Page 250 - Hojnik, Jana. 2017. In Persuit of Eco-innovation. Drivers and Consequences of Eco-innovation at Firm Level. Koper: University of Primorska Press
P. 250
In Pursuit of Eco-innovation
When testing our hypotheses, as indicated in Figure 27 and focus-
ing on consequences of process eco-innovation, we have to add that Hy-
pothesis 6 was tested separately, as it was divided into two dimensions –
company growth and company profitability – in order to obtain greater
insights regarding how process eco-innovation affects company growth
and company profitability. However, Hypothesis 6 predicted a positive
and significant association between process eco-innovation and company
performance. In more detail, Hypothesis 6a posits a positive and signifi-
cant relationship between process eco-innovation and company growth,
while Hypothesis 6b posits a positive and significant association between
process eco-innovation and company profitability. When testing the re-
lationships between process eco-innovation and indicators of company
performance (company growth and company profitability), significant
250 influences were detected. We can see (Figure 27) that process eco-inno-
vation was found to be quite substantially (standardized coefficient -0.15)
related to company growth, but in a negative direction, which is the op-
posite of what we predicted. Therefore, Hypothesis 6a is not supported.
Meanwhile, the standardized coefficient measuring the influence of pro-
cess eco-innovation on company profitability was significant and posi-
tive, although that the association was weak (standardized coefficient
0.04). The relationship was expected to be positive and significant; thus,
these findings indicate that Hypothesis 6b is supported.
In our model, we also used soft measures to measure economic per-
formance of eco-innovation. Hypothesis 7 predicted a positive and sig-
nificant relationship between process eco-innovation and economic ben-
efits. In addition, the results further indicate that process eco-innovation
was found to be highly, positively and significantly related to economic
benefits (standardized coefficient 0.48). Therefore, Hypothesis 7 is sup-
ported.
Moreover, the relationship between process eco-innovation and com-
petitive benefits was found to be highly positive and significant (stand-
ardized coefficient 0.49), offering support for Hypothesis 8.
Finally, Hypothesis 9 examined the relationship between process
eco-innovation and internationalization and postulated that process
eco-innovation has a positive impact on internationalization. The stand-
ardized coefficient for this relationship is quite substantial, positive and
significant (0.17), indicating support for Hypothesis 9. This means that
more eco-innovative companies (in the sense of introducing more pro-
cess eco-innovations) are also more internationalized (in terms of scale
and scope).
When testing our hypotheses, as indicated in Figure 27 and focus-
ing on consequences of process eco-innovation, we have to add that Hy-
pothesis 6 was tested separately, as it was divided into two dimensions –
company growth and company profitability – in order to obtain greater
insights regarding how process eco-innovation affects company growth
and company profitability. However, Hypothesis 6 predicted a positive
and significant association between process eco-innovation and company
performance. In more detail, Hypothesis 6a posits a positive and signifi-
cant relationship between process eco-innovation and company growth,
while Hypothesis 6b posits a positive and significant association between
process eco-innovation and company profitability. When testing the re-
lationships between process eco-innovation and indicators of company
performance (company growth and company profitability), significant
250 influences were detected. We can see (Figure 27) that process eco-inno-
vation was found to be quite substantially (standardized coefficient -0.15)
related to company growth, but in a negative direction, which is the op-
posite of what we predicted. Therefore, Hypothesis 6a is not supported.
Meanwhile, the standardized coefficient measuring the influence of pro-
cess eco-innovation on company profitability was significant and posi-
tive, although that the association was weak (standardized coefficient
0.04). The relationship was expected to be positive and significant; thus,
these findings indicate that Hypothesis 6b is supported.
In our model, we also used soft measures to measure economic per-
formance of eco-innovation. Hypothesis 7 predicted a positive and sig-
nificant relationship between process eco-innovation and economic ben-
efits. In addition, the results further indicate that process eco-innovation
was found to be highly, positively and significantly related to economic
benefits (standardized coefficient 0.48). Therefore, Hypothesis 7 is sup-
ported.
Moreover, the relationship between process eco-innovation and com-
petitive benefits was found to be highly positive and significant (stand-
ardized coefficient 0.49), offering support for Hypothesis 8.
Finally, Hypothesis 9 examined the relationship between process
eco-innovation and internationalization and postulated that process
eco-innovation has a positive impact on internationalization. The stand-
ardized coefficient for this relationship is quite substantial, positive and
significant (0.17), indicating support for Hypothesis 9. This means that
more eco-innovative companies (in the sense of introducing more pro-
cess eco-innovations) are also more internationalized (in terms of scale
and scope).
