Page 289 - Hojnik, Jana. 2017. In Persuit of Eco-innovation. Drivers and Consequences of Eco-innovation at Firm Level. Koper: University of Primorska Press
P. 289
Conclusion 289
el model of eco-innovation. In our study, we examined drivers and out-
comes of different eco-innovation types separately (product, process and
organizational eco-innovation), which have led us to more detailed and
profound insights regarding drivers and outcomes of different eco-inno-
vation types. As aforementioned, the construct-level model of eco-inno-
vation (measured and tested as a second-order latent factor comprising
three dimensions: product, process and organizational eco-innovation)
has also been tested. In more detail, we have explored the relative strengths
of each driver on different eco-innovation types; likewise, the same has
been done for the eco-innovation outcomes. This leads us to conclusions
regarding which eco-innovation type leads to greater competitive and
economic benefits, higher company profitability or increased interna-
tionalization, as well as which drivers are more relevant and effective in
triggering certain eco-innovation types. The most important insight is
that all the tested drivers significantly positively affect all three eco-in-
novation types (with the exception of expected benefits, which demon-
strated a significantly negative association with process eco-innovation).
The strongest influence on product eco-innovation is exerted by competi-
tive pressure, followed by customer demand. Meanwhile, process and or-
ganizational eco-innovation are largely driven by competitive pressure.
Regarding the eco-innovation outcomes, relationships between all three
eco-innovation types (product, process and organizational eco-innova-
tion) and three of the outcomes (internationalization, competitive and
economic benefits) are significantly positive, whereas all three eco-inno-
vation types are significantly negatively associated with company growth
(however, while the values of standardized coefficients were significant,
they were low; thus, this finding should be interpreted with care, and the
analysis should be repeated after a one-year lag). Moreover, process and
organizational eco-innovation exert a significantly positive influence on
company profitability, while the association between product eco-inno-
vation and company profitability is significant but negative (again this
finding should be interpreted with caution, because the standardized co-
efficient was close to zero despite being statistically significant).
The fifth contribution pertains to the eco-innovation drivers, as we
have tested many factors (both internal and external to the company)
that may influence the implementation of eco-innovation in companies.
Before the quantitative research, these factors were also verified through
qualitative research, to explore whether the Slovenian companies iden-
tify them as driving forces of eco-innovation implementation. Their rel-
evance was thus identified/verified by a prior qualitative study (i.e., in-
el model of eco-innovation. In our study, we examined drivers and out-
comes of different eco-innovation types separately (product, process and
organizational eco-innovation), which have led us to more detailed and
profound insights regarding drivers and outcomes of different eco-inno-
vation types. As aforementioned, the construct-level model of eco-inno-
vation (measured and tested as a second-order latent factor comprising
three dimensions: product, process and organizational eco-innovation)
has also been tested. In more detail, we have explored the relative strengths
of each driver on different eco-innovation types; likewise, the same has
been done for the eco-innovation outcomes. This leads us to conclusions
regarding which eco-innovation type leads to greater competitive and
economic benefits, higher company profitability or increased interna-
tionalization, as well as which drivers are more relevant and effective in
triggering certain eco-innovation types. The most important insight is
that all the tested drivers significantly positively affect all three eco-in-
novation types (with the exception of expected benefits, which demon-
strated a significantly negative association with process eco-innovation).
The strongest influence on product eco-innovation is exerted by competi-
tive pressure, followed by customer demand. Meanwhile, process and or-
ganizational eco-innovation are largely driven by competitive pressure.
Regarding the eco-innovation outcomes, relationships between all three
eco-innovation types (product, process and organizational eco-innova-
tion) and three of the outcomes (internationalization, competitive and
economic benefits) are significantly positive, whereas all three eco-inno-
vation types are significantly negatively associated with company growth
(however, while the values of standardized coefficients were significant,
they were low; thus, this finding should be interpreted with care, and the
analysis should be repeated after a one-year lag). Moreover, process and
organizational eco-innovation exert a significantly positive influence on
company profitability, while the association between product eco-inno-
vation and company profitability is significant but negative (again this
finding should be interpreted with caution, because the standardized co-
efficient was close to zero despite being statistically significant).
The fifth contribution pertains to the eco-innovation drivers, as we
have tested many factors (both internal and external to the company)
that may influence the implementation of eco-innovation in companies.
Before the quantitative research, these factors were also verified through
qualitative research, to explore whether the Slovenian companies iden-
tify them as driving forces of eco-innovation implementation. Their rel-
evance was thus identified/verified by a prior qualitative study (i.e., in-
