Environmental corporate social responsibility, R&D and disclosure of “green” innovation knowledge

The literature on the environment has analyzed how firms carry out R&D to reduce their pollutant emissions, assuming that they maximize profits. However, empirical evidence shows that firms are increasingly concerned about Environmental Corporate Social Responsibility (ECSR). Following that evid...

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Autores: Bárcena Ruiz, Juan Carlos, Garzón San Felipe, María Begoña, Sagasta Elorza, Amagoia
Tipo de recurso: artículo
Fecha de publicación:2023
País:España
Institución:Universidad del País Vasco
Repositorio:Addi. Archivo Digital para la Docencia y la Investigación
OAI Identifier:oai:addi.ehu.eus:10810/61770
Acceso en línea:http://hdl.handle.net/10810/61770
Access Level:acceso abierto
Palabra clave:environmental corporate social responsibility
environmental tax
endogenous spillovers
R&D competition
research joint ventures
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spelling Environmental corporate social responsibility, R&D and disclosure of “green” innovation knowledgeBárcena Ruiz, Juan CarlosGarzón San Felipe, María BegoñaSagasta Elorza, Amagoiaenvironmental corporate social responsibilityenvironmental taxendogenous spilloversR&D competitionresearch joint venturesThe literature on the environment has analyzed how firms carry out R&D to reduce their pollutant emissions, assuming that they maximize profits. However, empirical evidence shows that firms are increasingly concerned about Environmental Corporate Social Responsibility (ECSR). Following that evidence, we consider that the objective function of firms incorporates the environmental damage they generate as part of their social concern. We find that how firms perform environmental R&D depends crucially on the degree to which they care about ECSR. If that degree is low enough, firms agree to set up an Environmental Research Joint Venture (ERJV) under which they coordinate their R&D investments and fully share their technological knowledge. This is the result obtained when firms maximize profits. If the degree is high enough, firms enter into an ERJV in which each fully shares its technological expertise but they do not coordinate their R&D investments. Finally, if the degree is intermediate, firms neither set up an ERJV nor disclose information. Social welfare is the highest and environmental damage the lowest if firms form an ERJV and coordinate their R&D investments. Therefore, the way in which firms organize their R&D activities is not always the most socially preferable.We thank an anonymous referee for helpful comments. The usual disclaimer applies. Financial support from Ministerio de Ciencia, Innovaci´on y Universidades (PID2019-108718GB-I00 and PID2019- 105291GB-I00), the Basque Government (IT1336-19 and IT1461-22) and Grupos UPV/EHU (GIU20/019) is gratefully acknowledged.Elsevier202320232023info:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10810/61770reponame:Addi. Archivo Digital para la Docencia y la Investigacióninstname:Universidad del País VascoInglésinfo:eu-repo/grantAgreement/MICINN/PID2019-108718GB-I00/info:eu-repo/grantAgreement/MICINN/PID2019-105291GB-I00/https://www.sciencedirect.com/science/article/pii/S0140988323001263info:eu-repo/semantics/openAccesshttp://creativecommons.org/licenses/by-nc-nd/3.0/es/© 2023 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by- nc-nd/4.0/).Atribución-NoComercial-SinDerivadas 3.0 Españaoai:addi.ehu.eus:10810/617702026-06-18T09:23:17Z
dc.title.none.fl_str_mv Environmental corporate social responsibility, R&D and disclosure of “green” innovation knowledge
title Environmental corporate social responsibility, R&D and disclosure of “green” innovation knowledge
spellingShingle Environmental corporate social responsibility, R&D and disclosure of “green” innovation knowledge
Bárcena Ruiz, Juan Carlos
environmental corporate social responsibility
environmental tax
endogenous spillovers
R&D competition
research joint ventures
title_short Environmental corporate social responsibility, R&D and disclosure of “green” innovation knowledge
title_full Environmental corporate social responsibility, R&D and disclosure of “green” innovation knowledge
title_fullStr Environmental corporate social responsibility, R&D and disclosure of “green” innovation knowledge
title_full_unstemmed Environmental corporate social responsibility, R&D and disclosure of “green” innovation knowledge
title_sort Environmental corporate social responsibility, R&D and disclosure of “green” innovation knowledge
dc.creator.none.fl_str_mv Bárcena Ruiz, Juan Carlos
Garzón San Felipe, María Begoña
Sagasta Elorza, Amagoia
author Bárcena Ruiz, Juan Carlos
author_facet Bárcena Ruiz, Juan Carlos
Garzón San Felipe, María Begoña
Sagasta Elorza, Amagoia
author_role author
author2 Garzón San Felipe, María Begoña
Sagasta Elorza, Amagoia
author2_role author
author
dc.subject.none.fl_str_mv environmental corporate social responsibility
environmental tax
endogenous spillovers
R&D competition
research joint ventures
topic environmental corporate social responsibility
environmental tax
endogenous spillovers
R&D competition
research joint ventures
description The literature on the environment has analyzed how firms carry out R&D to reduce their pollutant emissions, assuming that they maximize profits. However, empirical evidence shows that firms are increasingly concerned about Environmental Corporate Social Responsibility (ECSR). Following that evidence, we consider that the objective function of firms incorporates the environmental damage they generate as part of their social concern. We find that how firms perform environmental R&D depends crucially on the degree to which they care about ECSR. If that degree is low enough, firms agree to set up an Environmental Research Joint Venture (ERJV) under which they coordinate their R&D investments and fully share their technological knowledge. This is the result obtained when firms maximize profits. If the degree is high enough, firms enter into an ERJV in which each fully shares its technological expertise but they do not coordinate their R&D investments. Finally, if the degree is intermediate, firms neither set up an ERJV nor disclose information. Social welfare is the highest and environmental damage the lowest if firms form an ERJV and coordinate their R&D investments. Therefore, the way in which firms organize their R&D activities is not always the most socially preferable.
publishDate 2023
dc.date.none.fl_str_mv 2023
2023
2023
dc.type.none.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv http://hdl.handle.net/10810/61770
url http://hdl.handle.net/10810/61770
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv info:eu-repo/grantAgreement/MICINN/PID2019-108718GB-I00/
info:eu-repo/grantAgreement/MICINN/PID2019-105291GB-I00/
https://www.sciencedirect.com/science/article/pii/S0140988323001263
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
Atribución-NoComercial-SinDerivadas 3.0 España
eu_rights_str_mv openAccess
rights_invalid_str_mv http://creativecommons.org/licenses/by-nc-nd/3.0/es/
Atribución-NoComercial-SinDerivadas 3.0 España
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Elsevier
publisher.none.fl_str_mv Elsevier
dc.source.none.fl_str_mv reponame:Addi. Archivo Digital para la Docencia y la Investigación
instname:Universidad del País Vasco
instname_str Universidad del País Vasco
reponame_str Addi. Archivo Digital para la Docencia y la Investigación
collection Addi. Archivo Digital para la Docencia y la Investigación
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