Page 242 - Hojnik, Jana. 2017. In Persuit of Eco-innovation. Drivers and Consequences of Eco-innovation at Firm Level. Koper: University of Primorska Press
P. 242
In Pursuit of Eco-innovation
ardized coefficient measuring the influence of eco-innovation on compa-
ny profitability was significant, negative, and close to zero (standardized
coefficient -0.00). The relationship was expected to be positive and sig-
nificant, but, as aforementioned, we can see that the standardized coef-
ficient estimating the relationship between product eco-innovation and
company profitability is low (approximately zero) and statistically signif-
icant; thus, these findings indicate that Hypothesis 6b is not supported.
In our model, we also used soft measures to measure economic per-
formance of eco-innovation. Hypothesis 7 predicted a positive and signif-
icant relationship between product eco-innovation and economic bene-
fits. In addition, the results further indicate that product eco-innovation
was found to be highly, positively and significantly related to economic
benefits (standardized coefficient 0.49). Therefore, Hypothesis 7 is sup-
242 ported.
Moreover, the relationship between product eco-innovation and com-
petitive benefits was found to be highly positive and significant (stand-
ardized coefficient 0.43), offering support for the Hypothesis 8, which is
confirmed.
Finally, Hypothesis 9 examined the relationship between product
eco-innovation and internationalization and postulated that product
eco-innovation has a positive impact on internationalization. The stand-
ardized coefficient for this relationship is high, positive and significant
(0.24), indicating support for Hypothesis 9. This means that more eco-in-
novative companies (in the sense of introducing more product eco-inno-
vations) are also more internationalized (in terms of scale and scope).
Process eco-innovation model
In the process eco-innovation model, the influence of various determi-
nants on process eco-innovation was tested, and the influence of process
eco-innovation on its outcomes was also analyzed. Eco-innovation deter-
minants were measured by six elements: the command-and-control in-
strument, the economic incentive instrument, managerial environmental
concern, customer demand, expected benefits and competitive pressure.
Eco-innovation outcomes were measured by five elements: company
growth and company profitability (objective measures obtained from the
GVIN database), economic benefits, competitive benefits and interna-
tionalization.
ardized coefficient measuring the influence of eco-innovation on compa-
ny profitability was significant, negative, and close to zero (standardized
coefficient -0.00). The relationship was expected to be positive and sig-
nificant, but, as aforementioned, we can see that the standardized coef-
ficient estimating the relationship between product eco-innovation and
company profitability is low (approximately zero) and statistically signif-
icant; thus, these findings indicate that Hypothesis 6b is not supported.
In our model, we also used soft measures to measure economic per-
formance of eco-innovation. Hypothesis 7 predicted a positive and signif-
icant relationship between product eco-innovation and economic bene-
fits. In addition, the results further indicate that product eco-innovation
was found to be highly, positively and significantly related to economic
benefits (standardized coefficient 0.49). Therefore, Hypothesis 7 is sup-
242 ported.
Moreover, the relationship between product eco-innovation and com-
petitive benefits was found to be highly positive and significant (stand-
ardized coefficient 0.43), offering support for the Hypothesis 8, which is
confirmed.
Finally, Hypothesis 9 examined the relationship between product
eco-innovation and internationalization and postulated that product
eco-innovation has a positive impact on internationalization. The stand-
ardized coefficient for this relationship is high, positive and significant
(0.24), indicating support for Hypothesis 9. This means that more eco-in-
novative companies (in the sense of introducing more product eco-inno-
vations) are also more internationalized (in terms of scale and scope).
Process eco-innovation model
In the process eco-innovation model, the influence of various determi-
nants on process eco-innovation was tested, and the influence of process
eco-innovation on its outcomes was also analyzed. Eco-innovation deter-
minants were measured by six elements: the command-and-control in-
strument, the economic incentive instrument, managerial environmental
concern, customer demand, expected benefits and competitive pressure.
Eco-innovation outcomes were measured by five elements: company
growth and company profitability (objective measures obtained from the
GVIN database), economic benefits, competitive benefits and interna-
tionalization.
