Evaluating pro-environmental activity premium at different levels of innovation propensity

Meng, Fankun and Li, Qian ORCID: https://orcid.org/0000-0003-0827-2134 2024. Evaluating pro-environmental activity premium at different levels of innovation propensity. Academy of Management Proceedings 2024 (1) , 20661. 10.5465/AMPROC.2024.20661abstract

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Abstract

In the contemporary business landscape, successful innovation is increasingly defined not just by the development and synthesis of novel knowledge, but also by a steadfast commitment to environmental stewardship. This study aims to bridge the gap between environmental responsibility and corporate innovation by quantifying the returns of pro-environmental activities on new product sales and internal R&D investments. Utilising matched firm-level data from the Community Innovation Survey (CIS) and the Business Survey Database (BSD) spanning 2002 to 2020 in the United Kingdom, our research offers an empirical evaluation of the impact of environmental orientation on corporate innovation. Our findings reveal a significant positive correlation between eco-conscious practices and the sales of environmentally friendly products, corroborated across both large and small businesses. Additionally, a notable increase in internal R&D investment is observed in innovators prioritising reduced environmental impact. These findings extend the discourse in innovation theories, suggesting a synergistic relationship between environmental responsibility and innovation performance. The study not only advances theoretical models in this realm but also offers pragmatic insights for businesses striving to harmonise innovation with environmental sustainability.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Schools > Business (Including Economics)
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences > HC Economic History and Conditions
Publisher:	Academy of Management
ISSN:	0065-0668
Last Modified:	27 Feb 2025 13:01
URI:	https://orca.cardiff.ac.uk/id/eprint/171066

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