DISCUSSION ON THE IMPACT OF THE GREEN INNOVATION STRATEGY ON CORPORATE FINANCIAL PERFORMANCE IN THE AUTOMOTIVE SECTOR
DOI:
https://doi.org/10.29121/shodhkosh.v5.i1.2024.2922Keywords:
Sustainability, Green Technology, Production Cost, Pollution Level, Renewable EnergyAbstract [English]
Introduction: In the modern world of globalization increasing presence of technical aspect have opened the path for improved social development chances. These have also proved detrimental to the ecology and long-term growth in the automotive sectors. The goal of this research is to identify the mediating factors of developing the strategy that helps the industries to sustain the environment as well as earn maximum benefits.
Literature Review: This research highlights the convenient approaches of the green innovative strategy of automotive industrial sectors. The impact of greener strategy on the link between sustainable culture and environmental aspects is discussed with critical analysis in terms of quality production of life and business improvement.
Methodology: Primary quantitative approach of data collection helps to analyze the responses to 13 questions by 85 participants. This methodology part ensures the research analyzes primary data for solving all topic-related objectives and questions with positive positivism philosophy through SPSS software.
Findings: Findings section includes the results of three hypotheses based on the survey results. The demographical analysis along with descriptive analysis is discussed with the relational value of the variables.
Discussion: This green technology innovates the finance along with environmental regulation system in automotive sectors. Nature-focused development enabled critical ideas to connect, promoting sustainability and social conscience with industrial sectors.
Conclusion: The conclusion part states that this study ensures the approach of the development approach of green policies of technology in the areas of budget management and production development.
References
Chouaibi, S., Chouaibi, J., & Rossi, M. (2022). ESG and corporate financial performance: the mediating role of green innovation: UK common law versus Germany civil law. EuroMed Journal of Business, 17(1), 46-71. DOI: https://doi.org/10.1108/EMJB-09-2020-0101
García-Machado, J. J., & Martínez-Ávila, M. (2019). Environmental performance and green culture: The mediating effect of green innovation. An application to the automotive industry. Sustainability, 11(18), 4874. DOI: https://doi.org/10.3390/su11184874
Hsu, C. C., Quang-Thanh, N., Chien, F., Li, L., & Mohsin, M. (2021). Evaluating green innovation and performance of financial development: mediating concerns of environmental regulation. Environmental Science and Pollution Research, 28(40), 57386-57397. DOI: https://doi.org/10.1007/s11356-021-14499-w
Jacknjillscute (2019), Retrieved from https://www.jacknjillscute.com/2019/08/5-benefits-of-green-technology.html
Kraus, S., Rehman, S. U., & García, F. J. S. (2020). Corporate social responsibility and environmental performance: The mediating role of environmental strategy and green innovation. Technological Forecasting and Social Change, 160, 120262. DOI: https://doi.org/10.1016/j.techfore.2020.120262
Li, L., Msaad, H., Sun, H., Tan, M. X., Lu, Y., & Lau, A. K. (2020). Green innovation and business sustainability: New evidence from energy intensive industry in China. International Journal of Environmental Research and Public Health, 17(21), 7826. DOI: https://doi.org/10.3390/ijerph17217826
Lin, W. L., Cheah, J. H., Azali, M., Ho, J. A., & Yip, N. (2019). Does firm size matter? Evidence on the impact of the green innovation strategy on corporate financial performance in the automotive sector. Journal of Cleaner Production, 229, 974-988. DOI: https://doi.org/10.1016/j.jclepro.2019.04.214
Muangmee, C., Dacko-Pikiewicz, Z., Meekaewkunchorn, N., Kassakorn, N., & Khalid, B. (2021). Green entrepreneurial orientation and green innovation in small and medium-sized enterprises (SMEs). Social Sciences, 10(4), 136. DOI: https://doi.org/10.3390/socsci10040136
Okafor, A., Adeleye, B. N., & Adusei, M. (2021). Corporate social responsibility and financial performance: Evidence from US tech firms. Journal of Cleaner Production, 292, 126078. DOI: https://doi.org/10.1016/j.jclepro.2021.126078
Precedenceresearch (2022),
Przychodzen, W., Leyva‐de la Hiz, D. I., & Przychodzen, J. (2020). First‐mover advantages in green innovation—Opportunities and threats for financial performance: A longitudinal analysis. Corporate Social Responsibility and Environmental Management, 27(1), 339-357. DOI: https://doi.org/10.1002/csr.1809
Qing, L., Chun, D., Dagestani, A. A., & Li, P. (2022). Does proactive green technology innovation improve financial performance? Evidence from listed companies with semiconductor concepts stock in China. Sustainability, 14(8), 4600. DOI: https://doi.org/10.3390/su14084600
Seman, N. A. A., Govindan, K., Mardani, A., Zakuan, N., Saman, M. Z. M., Hooker, R. E., & Ozkul, S. (2019). The mediating effect of green innovation on the relationship between green supply chain management and environmental performance. Journal of cleaner production, 229, 115-127. DOI: https://doi.org/10.1016/j.jclepro.2019.03.211
Slideteam (2023), Retrieved from: https://www.slideteam.net/green-technology-positive-impact-and-advantages.html
Soewarno, N., Tjahjadi, B., & Fithrianti, F. (2019). Green innovation strategy and green innovation: The roles of green organizational identity and environmental organizational legitimacy. Management Decision, 57(11), 3061-3078. DOI: https://doi.org/10.1108/MD-05-2018-0563
Sun, Y., & Razzaq, A. (2022). Composite fiscal decentralisation and green innovation: Imperative strategy for institutional reforms and sustainable development in OECD countries. Sustainable Development, 30(5), 944-957. DOI: https://doi.org/10.1002/sd.2292
Tu, Y., & Wu, W. (2021). How does green innovation improve enterprises’ competitive advantage? The role of organizational learning. Sustainable Production and Consumption, 26, 504-516. DOI: https://doi.org/10.1016/j.spc.2020.12.031
Wang, C. H. (2019). How organizational green culture influences green performance and competitive advantage: The mediating role of green innovation. Journal of Manufacturing Technology Management. DOI: https://doi.org/10.1108/JMTM-09-2018-0314
/publication/332666409_How_organizational_green_culture_influences_green_performance_and_competitive_advantage_The_mediating_role_of_green_innovation/links/5e789847299bf1892c0227e3/How-organizational-green-culture-influences-green-performance-and-competitive-advantage-The-mediating-role-of-green-innovation.pdf
Wicki, S., & Hansen, E. G. (2019). Green technology innovation: Anatomy of exploration processes from a learning perspective. Business Strategy and the Environment, 28(6), 970-988. DOI: https://doi.org/10.1002/bse.2295
Xie, X., Huo, J., & Zou, H. (2019). Green process innovation, green product innovation, and corporate financial performance: A content analysis method. Journal of business research, 101, 697-706. DOI: https://doi.org/10.1016/j.jbusres.2019.01.010
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Dr. K. Devi, Dr. Devadutta Indoria
This work is licensed under a Creative Commons Attribution 4.0 International License.
With the licence CC-BY, authors retain the copyright, allowing anyone to download, reuse, re-print, modify, distribute, and/or copy their contribution. The work must be properly attributed to its author.
It is not necessary to ask for further permission from the author or journal board.
This journal provides immediate open access to its content on the principle that making research freely available to the public supports a greater global exchange of knowledge.
