EFFECT OF GREEN INNOVATION AND GREEN PROCESS INNOVATION ON FIRM PERFORMANCE
Keywords:
Green Innovation; Firm Performance; Green Product Innovation; Green Process Innovation.
Abstract
This research aims to obtain empirical evidence on the effect of green process innovation on firm performance and provides empirical evidence that green innovation products have a positive effect on firm performance. This research conducted manufacture firm registered on Indonesia Stock Exchange (IDX) in 2016-2020. The sample in this study was obtained using a purposive sampling technique and based on predetermined criteria, a sample of 103 firm-years was obtained. The analytical method used is multiple linear analysis method with the E-views version 12. The independent variables in this study are green product innovation and green process innovation. Firm performance is the dependent variable in this study, while firm size and firm age is the control variable in this study. The results of this study indicate green product innovation have affect to firm performance at t+1 and t+2 and green process innovation has no affect to firm performance. This research contributes in terms of provide empirical evidence for researchers about the concept of green innovation and how it affects firm performance.
References
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Chen, Y. S., Lai, S. B., & Wen, C. T. (2006). The influence of green innovation performance on corporate advantage in Taiwan. Journal of Business Ethics, 67(4), 331–339. https://doi.org/10.1007/s10551-006-9025-5
Chiou, T. Y., Chan, H. K., Lettice, F., & Chung, S. H. (2011). The influence of greening the suppliers and green innovation on environmental performance and competitive advantage in Taiwan. Transportation Research Part E: Logistics and Transportation Review, 47(6), 822–836. https://doi.org/10.1016/j.tre.2011.05.016
Christoffersen, S., Frampton, G. C., & Granitz, E. (2013). Environmental Sustainability’s Impact On Earnings. In Journal of Business & Economics Research (Vol. 11, Issue 7).
Dangelico, R. M., & Pujari, D. (2010). Mainstreaming green product innovation: Why and how companies integrate environmental sustainability. Journal of Business Ethics, 95(3), 471–486. https://doi.org/10.1007/s10551-010-0434-0
De Roeck, Kenneth & Delobbe, Nathalie. (2012). Do Environmental CSR Initiatives Serve Organizations’ Legitimacy in the Oil Industry? Exploring Employees’ Reactions Through Organizational Identification Theory. Journal of Business Ethics. 110. 10.1007/s10551-012-1489-x.
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Dowling, J., & Pfeffer, J. (1975). Pacific Sociological Association Organizational Legitimacy: Social Values and Organizational Behavior. In Source: The Pacific Sociological Review (Vol. 18, Issue 1).
Durif, Fabien & Boivin, Caroline & Julien, Charles. (2010). In Search of a Green Product Definition. Innovative Marketing. 6. 25-33.
Faisal, A., Samben, R., & Pattisahusiwa, S. (2017). Analisis kinerja keuangan. 14(1), 6–15.
Fitriani, L. K. (2015). Keunggulan Bersaing Produk Dan Kinerja Pemasaran ( Studi Empirik Pada Ukm Batik Ciwaringin Kabupaten Cirebon ). Journal of Management and Business Review, 12(2), 105–125.
Freeman, R. E., & Mcvea, J. (2006). 6 A Stakeholder Approach to Strategic Management.
Ghozali, imam dan anis chairiri. (2007). teori akuntansi. In universitas diponegoro.
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Kammerer, D. (2009). The effects of customer benefit and regulation on environmental product innovation. Empirical evidence from appliance manufacturers in Germany. Ecological Economics, 68(8–9), 2285–2295. https://doi.org/10.1016/j.ecolecon.2009.02.016
Küçükoğlu, M. T., & Pınar, R. İ. (2015). Positive Influences of Green Innovation on Company Performance. Procedia - Social and Behavioral Sciences, 195, 1232–1237. https://doi.org/10.1016/j.sbspro.2015.06.261
Le, T. T. , & F. M. (2022). How green investment drives sustainable business performance for food manufacturing small- and medium-sized enterprises? Evidence from an emerging economy. Corporate Social Responsibility and Environmental Management, 29( 4), 1034– 1049.
Lin, R. J., Chen, R. H., & Huang, F. H. (2014). Green innovation in the automobile industry. Industrial Management and Data Systems, 114(6), 886–903. https://doi.org/10.1108/IMDS-11-2013-0482
Lindblom, C. K. (1993). The Implications of Organisational Legitimacy for Corporate Social Performance and Disclosure. Paper Presented at the Critical Perspectives on Accounting Conference.
O’Donovan, G. (2002). Environmental disclosures in the annual report: Extending the applicability and predictive power of legitimacy theory. In Accounting, Auditing & Accountability Journal (Vol. 15, Issue 3, pp. 344–371). https://doi.org/10.1108/09513570210435870
Pemayun1, A. A. I. C. D., & Suprapti2, N. W. S. (2016). Pengaruh Etika Lingkungan Perusahaan Terhadap Keunggulan Kompetitif: Peran Mediasi Inovasi Produk Hijau. E-Jurnal Manajemen Unud, 5(9), 5895–5922.
Peters, B. (n.d.). The Relationship between Product and Process Innovations and Firm Performance: Microeconometric Evidence.
Przychodzen, J., & Przychodzen, W. (2015). Relationships between eco-innovation and financial performance - Evidence from publicly traded companies in Poland and Hungary. Journal of Cleaner Production, 90, 253–263. https://doi.org/10.1016/j.jclepro.2014.11.034
Purwanto, A. (2011). Pengaruh Tipe Industri, Ukuran Perusahaan, Profitabilitas Terhadap Corporate Social Responsibility. Akuntansi & Auditing.
Qi, G., Zeng, S., Li, X., & Tam, C. (2012). Role of Internalization Process in Defining the Relationship between ISO 14001 Certification and Corporate Environmental Performance. Corporate Social Responsibility and Environmental Management, 19(3), 129–140. https://doi.org/10.1002/csr.258
Rahardjo, B. (2007). Keuangan dan akuntansi untuk manajer non keuangan (1st ed.). Graha Ilmu.
Ramanathan, R., Black, A., Nath, P., & Muyldermans, L. (2010). Impact of environmental regulations on innovation and performance in the UK industrial sector. Management Decision, 48(10), 1493–1513. https://doi.org/10.1108/00251741011090298
Rave, T., & Goetzke, F. (2017). Environmental innovation activities and patenting: Germany reconsidered. Journal of Environmental Planning and Management, 60(7), 1214–1234. https://doi.org/10.1080/09640568.2016.1213706
Reverte, C. (2009). Determinants of corporate social responsibility disclosure ratings by Spanish listed firms. Journal of Business Ethics, 88(2), 351–366. https://doi.org/10.1007/s10551-008-9968-9
Rezende, L. de A., Bansi, A. C., Alves, M. F. R., & Galina, S. V. R. (2019). Take your time: Examining when green innovation affects financial performance in multinationals. Journal of Cleaner Production, 233, 993–1003. https://doi.org/10.1016/j.jclepro.2019.06.135
Sari, N. P., Handayani, S., Akuntansi, J., & Ekonomi, F. (2020). AKUNESA: Jurnal Akuntansi Unesa (Vol. 09, Issue 01). http://journal.unesa.ac.id/index.php/akunesa
Sekaran, U. (2013). Metodologi Penelitian Untuk Bisnis (4th ed.). Salemba Empat.
Sezen, B., & Çankaya, S. Y. (2013). Effects of Green Manufacturing and Eco-innovation on Sustainability Performance. Procedia - Social and Behavioral Sciences, 99, 154–163. https://doi.org/10.1016/j.sbspro.2013.10.481
Simeth, M., & Cincera, M. (2014). “Corporate Science, Innovation and Firm Value.” Academy of Management Proceedings, 2014(1), 13328. https://doi.org/10.5465/ambpp.2014.308
Singh, K., & Misra, M. (2022). The evolving path of CSR: toward business and society relationship. Journal of Economic and Administrative Sciences, 38(2), 304–332. https://doi.org/10.1108/jeas-04-2020-0052
Sucipto. (2003). Penilaian Kinerja Keuangan. Jurnal Akuntansi, (Fakultas Ekonomi Universitas Sumatera Utara).
Sujarweni, V. W. (2015). Metodologi Penelitian Bisnis Dan Ekonomi (Vol. 33). Pustaka Baru Press.
Suta, I. P. G. A. (2006). Kinerja pasar perusahaan publik di Indonesia : suatu analilis reputasi perusahaan. Yayasan SAD SATRIA BHAKTI.
Weng, H. H. R., Chen, J. S., & Chen, P. C. (2015). Effects of green innovation on environmental and corporate performance: A stakeholder perspective. Sustainability (Switzerland), 7(5), 4997–5026. https://doi.org/10.3390/su7054997
Wong, S. K. S. (2012). The influence of green product competitiveness on the success of green product innovation: Empirical evidence from the Chinese electrical and electronics industry. European Journal of Innovation Management, 15(4), 468–490. https://doi.org/10.1108/14601061211272385
Zhang, D., Rong, Z., & Ji, Q. (2019). Green innovation and firm performance: Evidence from listed companies in China. Resources, Conservation and Recycling, 144, 48–55. https://doi.org/10.1016/j.resconrec.2019.01.023
Glass, G. V. (1976). Primary, Secondary, and Meta-Analysis of Research. Educational Researcher, 5(10). https://doi.org/10.2307/1174772
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Published
2023-06-12
How to Cite
Muwaffaq Helmi, W., & Erna Widiastuty. (2023). EFFECT OF GREEN INNOVATION AND GREEN PROCESS INNOVATION ON FIRM PERFORMANCE. Jurnal Riset Akuntansi Aksioma, 22(1), 55-69. https://doi.org/10.29303/aksioma.v22i1.203
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Articles
Copyright (c) 2023 Erna Widiastuty -, Wafiq Muwaffaq Helmi
This work is licensed under a Creative Commons Attribution 4.0 International License.
