Title: Drivers for eco-innovation in firms: an exploratory study in Spain

Authors: Pilar Portillo-Tarragona; Sabina Scarpellini; Luz María Marín-Vinuesa

Addresses: Department of Accounting and Finance, Faculty of Economics and Business, University of Zaragoza, Gran Vía 2, 50005, Zaragoza, Spain ' Department of Accounting and Finance, University of Zaragoza, and CIRCE Institute, University of Zaragoza, Circe Building Campus Río Ebro, Mariano Esquillor Gómez, 18, 50005, Zaragoza, Spain ' Department of Economics and Business, Faculty of Business, University of La Rioja, Cigüeña 60, 26006, La Rioja, Spain

Abstract: The authors study the determinants of the behaviour of protection of the innovations through green patents, as an approximation of eco-innovative profile in firms. To this end, a large sample of firms from three regions in Spain is analysed through a binomial logit model. The authors find that age, size and financial performance significantly affect the choice of having green patents as eco-innovative conduct in firms. They also find that the sector of activity and the legal structure of firms are related with the choice of having, or not having, green patents to protect the innovations. Implications are explored for policy makers promoting the green patents registration and for practitioners introducing environmental improvement in the innovation processes.

Keywords: eco-innovation; green patents; economic-financial characteristics; binomial logit model; corporate finance; Spain.

DOI: 10.1504/IJBG.2019.10021969

International Journal of Business and Globalisation, 2019 Vol.22 No.4, pp.618 - 637

Received: 19 Jun 2017
Accepted: 15 Sep 2017

Published online: 21 Jun 2019 *

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