Francesco Gangi, Lucia Michela Daniele, M. Tani, Ornella Papaluca
{"title":"绿色产品创新作为开放式创新的驱动因素与影响:来自科技型企业的证据","authors":"Francesco Gangi, Lucia Michela Daniele, M. Tani, Ornella Papaluca","doi":"10.1111/beer.12583","DOIUrl":null,"url":null,"abstract":"Open innovation (OI) has gained widespread attention in recent years as a catalyst for sustainable management. Through OI, companies can harness their environmental capabilities to develop sustainable innovations that provide mutual benefits for companies and society. We explore the impact of Corporate Governance (CG) on Green Product Innovation (GPI) as OI and the impacts of GPI on corporate financial performance (CFP). Adopting Heckman's two‐stage procedure to a panel of 622 science‐based firms over the study period of 2008–2021, in the first step, we test the link between boards of directors' characteristics and GPI engagement. In the second step, we test the relationship between GPI and CFP. The findings confirm that effective CG mechanisms positively impact GPI performance. Moreover, GPI is a positive predictor of reduced firm riskiness. Therefore, we provide new insights into the debate on the links among CG, GPI, and CFP that can help companies meet the new challenges of the ecological transition.","PeriodicalId":29886,"journal":{"name":"Business Ethics the Environment & Responsibility","volume":"12 1","pages":""},"PeriodicalIF":3.6000,"publicationDate":"2023-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Drivers and impacts of green product innovation as open innovation: Evidence from science‐based firms\",\"authors\":\"Francesco Gangi, Lucia Michela Daniele, M. Tani, Ornella Papaluca\",\"doi\":\"10.1111/beer.12583\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Open innovation (OI) has gained widespread attention in recent years as a catalyst for sustainable management. Through OI, companies can harness their environmental capabilities to develop sustainable innovations that provide mutual benefits for companies and society. We explore the impact of Corporate Governance (CG) on Green Product Innovation (GPI) as OI and the impacts of GPI on corporate financial performance (CFP). Adopting Heckman's two‐stage procedure to a panel of 622 science‐based firms over the study period of 2008–2021, in the first step, we test the link between boards of directors' characteristics and GPI engagement. In the second step, we test the relationship between GPI and CFP. The findings confirm that effective CG mechanisms positively impact GPI performance. Moreover, GPI is a positive predictor of reduced firm riskiness. Therefore, we provide new insights into the debate on the links among CG, GPI, and CFP that can help companies meet the new challenges of the ecological transition.\",\"PeriodicalId\":29886,\"journal\":{\"name\":\"Business Ethics the Environment & Responsibility\",\"volume\":\"12 1\",\"pages\":\"\"},\"PeriodicalIF\":3.6000,\"publicationDate\":\"2023-08-15\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Business Ethics the Environment & Responsibility\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://doi.org/10.1111/beer.12583\",\"RegionNum\":2,\"RegionCategory\":\"哲学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"BUSINESS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Business Ethics the Environment & Responsibility","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1111/beer.12583","RegionNum":2,"RegionCategory":"哲学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"BUSINESS","Score":null,"Total":0}
Drivers and impacts of green product innovation as open innovation: Evidence from science‐based firms
Open innovation (OI) has gained widespread attention in recent years as a catalyst for sustainable management. Through OI, companies can harness their environmental capabilities to develop sustainable innovations that provide mutual benefits for companies and society. We explore the impact of Corporate Governance (CG) on Green Product Innovation (GPI) as OI and the impacts of GPI on corporate financial performance (CFP). Adopting Heckman's two‐stage procedure to a panel of 622 science‐based firms over the study period of 2008–2021, in the first step, we test the link between boards of directors' characteristics and GPI engagement. In the second step, we test the relationship between GPI and CFP. The findings confirm that effective CG mechanisms positively impact GPI performance. Moreover, GPI is a positive predictor of reduced firm riskiness. Therefore, we provide new insights into the debate on the links among CG, GPI, and CFP that can help companies meet the new challenges of the ecological transition.
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