THE RELATIONSHIP BETWEEN GREEN INNOVATION AND FINANCIAL PERFORMANCE: A STUDY ON EU FIRMS

Authors : Kubilay Düzgit, Aslı Aybars

Pages : 54-68

Doi:10.32951/mufider.1566320

View : 96 | Download : 115

Publication Date : 2025-04-01

Article Type : Research Paper

Abstract :This research aims to evaluate the impact of green innovation on the financial performance of firms operating in the EU. The dataset comprises 105 real sector firms over the period from 2016 to 2022. Panel data analysis, incorporating a total of 735 firm-year observations, is employed to investigate the influence of green innovation on the financial performance of the selected firms. The findings for the analysis period reveal a positive and significant correlation between green innovation and the financial performance of the chosen companies.The distinctive contribution of this study lies in its incorporation of green innovation intensity scores, a well-balanced panel data set, and the utilization of 8 models that consider the lag effect.
Keywords : Yeşil İnovasyon, Finansal Performans, Avrupa Birliği, Panel Veri Analizi