Innovation strategies of energy firms

Investment by energy firms in innovation can have substantial economic and environmental impacts and benefits. Firms engage in innovation for different reasons. The main objective of this paper is to analyse the role that the different innovation objectives have on firms' decisions to invest in...

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Authors: Costa, M. Teresa (Maria Teresa), 1951-, Duch Brown, Néstor, Garcia-Quevedo, Jose
Format: article
Status:Versión aceptada para publicación
Publication Date:2019
Country:España
Institution:Universidad de Barcelona
Repository:Dipòsit Digital de la UB
OAI Identifier:oai:diposit.ub.edu:2445/139664
Online Access:https://hdl.handle.net/2445/139664
Access Level:Open access
Keyword:Energia
Recerca industrial
Innovacions tecnològiques
Energy
Industrial research
Technological innovations
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spelling Innovation strategies of energy firmsCosta, M. Teresa (Maria Teresa), 1951-Duch Brown, NéstorGarcia-Quevedo, JoseEnergiaRecerca industrialInnovacions tecnològiquesEnergyIndustrial researchTechnological innovationsInvestment by energy firms in innovation can have substantial economic and environmental impacts and benefits. Firms engage in innovation for different reasons. The main objective of this paper is to analyse the role that the different innovation objectives have on firms' decisions to invest in each of three types of innovation activity: namely, internal R&D, external R&D, and the acquisition of advanced machinery, equipment, or software. We consider four objectives: process innovation, product innovation, reducing environmental impact, and meeting regulatory requirements. With this approach, we examine how energy firms innovate to reduce their environmental impact in comparison with other innovation objectives. In carrying out the empirical analysis, we draw on data for private energy firms included in the Spanish Technological Innovation Panel for the period 2004-2016. In the empirical analysis, we take the potential persistence of innovation activities into account and we use multivariate probit models to control for possible complementarities between the different R&D and innovation investments. Our results show that internal and external R&D are undertaken to address environmental objectives and to meet regulatory requirements while the acquisition of advanced machinery has the purpose of developing process innovations.John Wiley & Sons2019info:eu-repo/semantics/articleinfo:eu-repo/semantics/acceptedVersionapplication/pdfhttps://hdl.handle.net/2445/139664Articles publicats en revistes (Economia)reponame:Dipòsit Digital de la UBinstname:Universidad de BarcelonaInglésVersió postprint del document publicat a: https://doi.org/10.1002/csr.1787Corporate Social Responsibility and Environmental Management , 2019, vol. 26, num. 5, p. 1073-1085https://doi.org/10.1002/csr.1787(c) ERP Environment, 2019info:eu-repo/semantics/openAccessoai:diposit.ub.edu:2445/1396642026-05-27T06:46:51Z
dc.title.none.fl_str_mv Innovation strategies of energy firms
title Innovation strategies of energy firms
spellingShingle Innovation strategies of energy firms
Costa, M. Teresa (Maria Teresa), 1951-
Energia
Recerca industrial
Innovacions tecnològiques
Energy
Industrial research
Technological innovations
title_short Innovation strategies of energy firms
title_full Innovation strategies of energy firms
title_fullStr Innovation strategies of energy firms
title_full_unstemmed Innovation strategies of energy firms
title_sort Innovation strategies of energy firms
dc.creator.none.fl_str_mv Costa, M. Teresa (Maria Teresa), 1951-
Duch Brown, Néstor
Garcia-Quevedo, Jose
author Costa, M. Teresa (Maria Teresa), 1951-
author_facet Costa, M. Teresa (Maria Teresa), 1951-
Duch Brown, Néstor
Garcia-Quevedo, Jose
author_role author
author2 Duch Brown, Néstor
Garcia-Quevedo, Jose
author2_role author
author
dc.subject.none.fl_str_mv Energia
Recerca industrial
Innovacions tecnològiques
Energy
Industrial research
Technological innovations
topic Energia
Recerca industrial
Innovacions tecnològiques
Energy
Industrial research
Technological innovations
description Investment by energy firms in innovation can have substantial economic and environmental impacts and benefits. Firms engage in innovation for different reasons. The main objective of this paper is to analyse the role that the different innovation objectives have on firms' decisions to invest in each of three types of innovation activity: namely, internal R&D, external R&D, and the acquisition of advanced machinery, equipment, or software. We consider four objectives: process innovation, product innovation, reducing environmental impact, and meeting regulatory requirements. With this approach, we examine how energy firms innovate to reduce their environmental impact in comparison with other innovation objectives. In carrying out the empirical analysis, we draw on data for private energy firms included in the Spanish Technological Innovation Panel for the period 2004-2016. In the empirical analysis, we take the potential persistence of innovation activities into account and we use multivariate probit models to control for possible complementarities between the different R&D and innovation investments. Our results show that internal and external R&D are undertaken to address environmental objectives and to meet regulatory requirements while the acquisition of advanced machinery has the purpose of developing process innovations.
publishDate 2019
dc.date.none.fl_str_mv 2019
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/acceptedVersion
format article
status_str acceptedVersion
dc.identifier.none.fl_str_mv https://hdl.handle.net/2445/139664
url https://hdl.handle.net/2445/139664
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Versió postprint del document publicat a: https://doi.org/10.1002/csr.1787
Corporate Social Responsibility and Environmental Management , 2019, vol. 26, num. 5, p. 1073-1085
https://doi.org/10.1002/csr.1787
dc.rights.none.fl_str_mv (c) ERP Environment, 2019
info:eu-repo/semantics/openAccess
rights_invalid_str_mv (c) ERP Environment, 2019
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv John Wiley & Sons
publisher.none.fl_str_mv John Wiley & Sons
dc.source.none.fl_str_mv Articles publicats en revistes (Economia)
reponame:Dipòsit Digital de la UB
instname:Universidad de Barcelona
instname_str Universidad de Barcelona
reponame_str Dipòsit Digital de la UB
collection Dipòsit Digital de la UB
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15.300719

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