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Firms, Finance and Sustainable Transitions

The Financial Constraints of Eco-Innovation Companies

Edgardo Sica

This thought-provoking book introduces a financial economics perspective to the topic of eco-innovations and, more generally, sociotechnical transitions. It develops a model that illustrates how financial constraints can prevent the development of eco-innovations within companies and hinder the transition process towards a more sustainable regime. Edgardo Sica presents a review of the state of the art, as well as new data from original surveys aimed at testing the impact of financial constraints on eco-innovative decisions at radical and niche levels.
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Chapter 2: The drivers of eco-innovations

The Financial Constraints of Eco-Innovation Companies

Edgardo Sica

Extract

The main incentive for innovation activities in companies is generally given by the possibility of achieving higher market shares and more profits. In turn, this is affected by a number of internal-to-company drivers (for example, company size, cost-savings associated with the implementation of innovations and so on) and external-to-company drivers (for example, market characteristics and competitiveness level and so on). However, in the case of EIs, further eco-related external factors should be taken into account, such as the type and effectiveness of environmental policy adopted, the environmental consciousness of consumers and their related preference for environmentally friendly goods and services. This chapter reviews all these aspects discussing the existing theoretical and empirical knowledge about the main drivers of EIs.

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