Chapter 3: Eco-innovations and finance theory
The Financial Constraints of Eco-Innovation Companies
Restricted access

Although the importance of finance for innovations has been recognised by Schumpeter since 1912, literature on EIs does not take into account the role of financial resources as a possible driver/barrier to the companies’ eco-innovative decisions. In this framework, this chapter discusses the relevance of finance for EIs. The chapter starts by analysing the capital structure of companies with particular reference to the financial options provided by the green finance to the eco-innovative enterprises. Then, it moves towards the analysis of the finance theory and the corresponding empirical findings, by focusing on two main bodies of literature. The first includes literature on capital structure and the theory of hierarchy of finance. The second focuses upon the determinants of companies’ financial constraints, with particular reference to the role of different financial systems.

You are not authenticated to view the full text of this chapter or article.

Access options

Get access to the full article by using one of the access options below.

Other access options

Redeem Token

Institutional Login

Log in with Open Athens, Shibboleth, or your institutional credentials

Login via Institutional Access

Personal login

Log in with your Elgar Online account

Login with you Elgar account