Does green innovation affect the financial performance of Multilatinas? The moderating role of ISO 14001 and R&amp;D investment

Eduardo Duque‐Grisales; Javier Aguilera‐Caracuel; Jaime Guerrero‐Villegas; Encarnación García‐Sánchez

doi:10.1002/bse.2572

journal article Jul 08, 2020

Does green innovation affect the financial performance of Multilatinas? The moderating role of ISO 14001 and R&D investment

Eduardo Duque‐Grisales

Javier Aguilera‐Caracuel

Jaime Guerrero‐Villegas

Encarnación García‐Sánchez

Business Strategy and the Environment Vol. 29 No. 8 pp. 3286-3302 · Wiley

View at Publisher Save 10.1002/bse.2572

Abstract

AbstractThe purpose of this study is to explore the relationship between green innovation (GI) and financial performance (FP) in emerging markets multinationals from Latin America (Multilatinas). Aligned with the natural resource‐based view and institutional theory, and using moderated and hierarchical linear regression analyses with panel data from 86 listed firms during the period 2013–2017, we find that implementing effective GIs is not associated with greater FP. The paper also analyses the moderating effect of Environmental Management Systems (ISO 14001) and research and development (R&D) investment on the relationship between GI and FP. We find that Multilatinas' implementation of ISO 14001 does not affect the way they adopt GI and thus does not enhance their levels of FP, but a positive moderating effect is generated as companies increase their level of R&D investment. The paper expands knowledge of the way GI affects Multilatinas' FP, and these findings have policy implications for managers, policy makers, government and other institutions.

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References

Details

Published: Jul 08, 2020
Vol/Issue: 29(8)
Pages: 3286-3302
License: View

Authors

E

Eduardo Duque‐Grisales

Faculty of Business Studies Esumer University Medellín Colombia; Faculty of Engineering, Institución Universitaria Pascual Bravo Medellín Colombia

J

Javier Aguilera‐Caracuel

Department of Management II University of Granada Granada Spain

J

Jaime Guerrero‐Villegas

Department of Management University of Cádiz Cádiz Spain

E

Encarnación García‐Sánchez

Department of Management II University of Granada Granada Spain

Cite This Article

Eduardo Duque‐Grisales, Javier Aguilera‐Caracuel, Jaime Guerrero‐Villegas, et al. (2020). Does green innovation affect the financial performance of Multilatinas? The moderating role of ISO 14001 and R&D investment. Business Strategy and the Environment, 29(8), 3286-3302. https://doi.org/10.1002/bse.2572

Does green innovation affect the financial performance of Multilatinas? The moderating role of ISO 14001 and R&amp;D investment

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Does green innovation affect the financial performance of Multilatinas? The moderating role of ISO 14001 and R&D investment