Institutional Drivers of Environmental Innovation: Evidence from French Industrial Firms

Boutry, Ornella; Nadel, Simon

doi:10.3917/jie.034.0135

Cited by 9 publications

(4 citation statements)

References 65 publications

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“…The world has experienced extreme environmental degradation over recent decades; the extensive mode of growth has resulted in serious environmental pollution and ecological devastation, which have profoundly affected the normal life of the population. Companies are generally considered the main cause of environmental problems and are subject to the enormous pressure of environmental legitimacy from various stakeholders (Boutry and Nadel, 2020). Pressures from the media, consumers and other stakeholders are pushing companies to adopt innovative measures to improve their environmental performance.…”

Section: Prior Literature and Hypotheses Developmentmentioning

confidence: 99%

Social and ethical practices and firm value: the moderating effect of green innovation: evidence from international ESG data

Chouaibi

2021

IJOES

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Purpose This study aims to examine the potential effect of integrating social and ethical practices into strategy on the market valuation of environmental, social and governance (ESG) businesses using the moderating effect of green innovation. Design/methodology/approach The sample used consisted of 523 international firms listed on the ESG index and headquartered in North America and Western Europe, forming an unbalanced panel of 7,845 observations spanning the period 2005–2019. The authors run a fixed-effects panel regression model using the Thomson Reuters ASSET4 to test the relationship between societal and ethical practices and the stock market value creation. Similarly, as an extension of the research, this paper exploits two robustness analyzes. The authors tested the dynamic dimension of the data set through the generalized moment method and the effect of the legal system. Findings Evidence reveals a significant positive relationship between societal and ethical practices and businesses’ market valuation. The empirical results indicate that societal and ethical strengths increase firm value with the moderating effect of green innovation and weaknesses reduce it. The results found with the dynamic dimension of the data set indicate the existence of continuity between firm values over time. Research limitations/implications Given the long study period, many firms with missing data were eliminated. To avoid the small sample size, countries with few observations were included, which led to an uneven distribution between observations per country. Practical implications Findings from this paper can help ESG firms to consider their future growth opportunities in a context where the approach of business ethics occupies a central position in business valuation. Originality/value This study is the only study that provides ESG companies with seven different nationalities with evidence for the effect of social and ethical practices regarding market valuation. This paper is also relevant as it addresses the relationship between social effectiveness and financial efficiency, as well as the dynamic effect of this relationship.

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Section: Prior Literature and Hypotheses Developmentmentioning

confidence: 99%

Social and ethical practices and firm value: the moderating effect of green innovation: evidence from international ESG data

Chouaibi

2021

IJOES

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“…Moreover, specialization implies a normative isomorphism based on specific sectoral mechanisms (professional journals and associations, etc.) or more broadly the adoption of codes of good environmental practices (Berrone et al 2017;Galliano and Nadel 2015;Boutry and Nadel 2021).…”

Section: Spatial Externalities and Eco-innovationmentioning

confidence: 99%

The geography of environmental innovation: a rural/urban comparison

2022

Self Cite

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This paper aims to contribute to enlarge a geography of eco-innovation. The objective is to study what kind of spatial externalities (specialization, related and unrelated variety) has the most positive impact on eco-innovation, according to firm's location (rural, peri-urban, urban). We empirically test this framework using a hurdle negative binomial model on firmlevel data drawn from the French Community Innovation Survey (CIS for 2014). The results show that spatial externalities have different effects depending on the firm's engagement and breadth of eco-innovation as well as on its location. Marshallian specialization has a positive effect both on engagement and breadth of eco-innovations unlike unrelated variety, which negatively impacts breadth of eco-innovation. As regard to the firm's location, related variety is particularly correlated to the eco-innovation breadth of rural firms, whereas specialization is positively correlated to the breadth of eco-innovations of peri-urban firms. As for urban firms, spatial externalities seem to have less impact on their eco-innovation related behavior.

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“…Other researchers have analysed the determinants of eco-innovation by using other theories, such as stakeholder theory, theory of planned behaviour or institutional theory. These theories are not the subject of this study (for more details, seeHazarika and Zhang, 2019;Munodawafa and Johl, 2019;Boutry and Nadel, 2021).R.Abdesselam et al …”

mentioning

confidence: 97%

What are the drivers of eco-innovation? Empirical evidence from French start-ups

Abdesselam,

Kedjar,

Renou-Maissant

2024

Technological Forecasting and Social Change

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Institutional Drivers of Environmental Innovation: Evidence from French Industrial Firms

Cited by 9 publications

References 65 publications

Social and ethical practices and firm value: the moderating effect of green innovation: evidence from international ESG data

Social and ethical practices and firm value: the moderating effect of green innovation: evidence from international ESG data

The geography of environmental innovation: a rural/urban comparison

What are the drivers of eco-innovation? Empirical evidence from French start-ups

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