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000047802 022__ $$a0960-6491 (Print)$$a1464-3650 (Online)
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000047802 24500 $$aGreen technologies and firms’ market value: a micro-econometric analysis of European firms.
000047802 264_1 $$aOxford, UK :$$bOxford University Press,$$c2020.
000047802 336__ $$atext$$2rdacontent
000047802 337__ $$acomputer$$2rdamedia
000047802 338__ $$aonline resource$$bcr$$2rdacarrier
000047802 4901_ $$aIndustrial and Corporate Change$$vVolume 29, Issue 3
000047802 5203_ $$aThis paper investigates the impact of the generation of green (environmental) technologies on the market value (MV) of a sample of listed companies. The analysis is grounded on the combination of two different theoretical approaches, that is the one focusing on the relationship between MV and innovation and the one pertaining to the economic effects of eco-innovation. Environmental regulation, based on the regulatory push–pull effect, induces firms to cope with more stringent rules through innovation efforts, and this eventually leads to the emergence of new markets for the suppliers of green technologies (GTs). Our main hypothesis is that firms able to generate GTs can be expected to show better stock market performances in this framework, because of the prospects of regulation-driven profitability gains. The empirical analysis has been carried out on a sample of listed firms from France, Germany, Italy, the Netherlands, and the UK observed over the 1985–2011 time span, and it is based on the implementation of the most recent version of the MV equation, corrected for selection bias. Results are consistent with those of previous literature and highlight the positive impact of innovation on MV. When narrowing the focus to firms operating in sectors with a high propensity to generate GTs, we have found that the stringency of the environmental regulatory framework also yields a positive a significant impact, as does the stock of GTs vis-à-vis non-GTs. Moreover, environmental regulatory framework positively moderates the positive effect of the stock of GTs. Lastly, the quality of firms’ own knowledge stocks is also found to positively influence firms’ MV.
000047802 542__ $$fhttps://academic.oup.com/pages/using-the-content/citation
000047802 590__ $$aPublished online: 2020
000047802 650_0 $$aGreen technology
000047802 650_0 $$aIntellectual property
000047802 650_0 $$aPatents
000047802 650_0 $$aEnvironmental policy
000047802 7001_ $$aColombelli, Alessandra,$$vauthor.
000047802 7001_ $$aGhisetti,  Claudia,$$eauthor.
000047802 7001_ $$aQuatraro, Francesco,$$eauthor.
000047802 7731_ $$tIndustrial and Corporate Change,$$wINCC
000047802 830_0 $$aIndustrial and Corporate Change$$vINCC 2020, 29(3), 855-875
000047802 85641 $$uhttps://doi.org/10.1093/icc/dtaa003$$yRead the Article
000047802 904__ $$aJournal article
000047802 980__ $$aINCC