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Fostering green innovation performance through open innovation strategies: do green subsidies work?
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Journal Article
Fostering green innovation performance through open innovation strategies: do green subsidies work?
2024
Overview
In today’s competitive market, the importance of open innovation with external involvement has been recognized. However, with the increasing number of manufacturers pursuing environmentally sustainable production, existing studies have failed to fully elaborate on the mechanism of how open innovation could foster its impact on green innovation performance. To address this research gap, this study investigates the role of open innovation as a driver of firms’ green product innovation performance and process innovation performance, as well as the moderating effect of green subsidies on these relationships. We empirically examine the research hypotheses employing survey data collected from 254 Vietnamese manufacturers analyzed by structural equation modeling (SEM). The data support all four hypotheses in our study (
β
= 0.251,
β
= 0.177,
β
= − 0.499,
β
= − 0.557 for 4 hypotheses respectively). In addition, we found that the different sources of external knowledge (market sources, institutional sources, specialized sources, and other sources) firms acquired convey different effects on green product and process innovation performance. Based on the evidence, policymakers and firm practitioners can also incorporate the findings and insights of this study while devising their policies to foster green innovation performance.
Publisher
Springer Netherlands,Springer Nature B.V
Subject
