Drivers of eco-innovation: the role of appropriability strategies and complementary assets
How do eco-innovators protect and profit from their innovations so they have the incentive to undertake an innovation in the first place? The double externality nature of environmental innovations intricates this appropriability problem, as competitors and society might also benefit from the value c...
| Autores principales: | , , |
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| Formato: | Journal Article |
| Lenguaje: | Inglés |
| Publicado: |
Oxford University Press
2024
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| Acceso en línea: | https://hdl.handle.net/10568/134852 |
| _version_ | 1855532493042614272 |
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| author | Orjuela-Ramirez, Guillermo Zuluaga Jimenez, Julio Cesar Urbano, David |
| author_browse | Orjuela-Ramirez, Guillermo Urbano, David Zuluaga Jimenez, Julio Cesar |
| author_facet | Orjuela-Ramirez, Guillermo Zuluaga Jimenez, Julio Cesar Urbano, David |
| author_sort | Orjuela-Ramirez, Guillermo |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | How do eco-innovators protect and profit from their innovations so they have the incentive to undertake an innovation in the first place? The double externality nature of environmental innovations intricates this appropriability problem, as competitors and society might also benefit from the value created by eco-innovation. Based on David Teece’s Profiting from innovation framework, we argue that firms combine appropriability strategies such as patents, industrial secrecy, and complex design with the development of complementary assets to incentivize and secure rent appropriation from eco-innovation. We estimate that formal appropriability mechanisms increase the probability of developing an eco-innovation by 6 per cent, while informal mechanisms increase it by about 15 per cent. Our panel data regression model demonstrates that marketing capability enhances the effect of appropriability mechanisms by differentiating eco-innovation from other technologies. However, this complementarity differs as a firm increases marketing investments, especially in small and Research and Development R&D publicly financed firms. |
| format | Journal Article |
| id | CGSpace134852 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2024 |
| publishDateRange | 2024 |
| publishDateSort | 2024 |
| publisher | Oxford University Press |
| publisherStr | Oxford University Press |
| record_format | dspace |
| spelling | CGSpace1348522025-12-02T10:59:51Z Drivers of eco-innovation: the role of appropriability strategies and complementary assets Orjuela-Ramirez, Guillermo Zuluaga Jimenez, Julio Cesar Urbano, David strategies finance innovation investment ecology marketing eco-innovation environmental innovation green innovation appropriability How do eco-innovators protect and profit from their innovations so they have the incentive to undertake an innovation in the first place? The double externality nature of environmental innovations intricates this appropriability problem, as competitors and society might also benefit from the value created by eco-innovation. Based on David Teece’s Profiting from innovation framework, we argue that firms combine appropriability strategies such as patents, industrial secrecy, and complex design with the development of complementary assets to incentivize and secure rent appropriation from eco-innovation. We estimate that formal appropriability mechanisms increase the probability of developing an eco-innovation by 6 per cent, while informal mechanisms increase it by about 15 per cent. Our panel data regression model demonstrates that marketing capability enhances the effect of appropriability mechanisms by differentiating eco-innovation from other technologies. However, this complementarity differs as a firm increases marketing investments, especially in small and Research and Development R&D publicly financed firms. 2024-04-05 2023-11-29T14:55:02Z 2023-11-29T14:55:02Z Journal Article https://hdl.handle.net/10568/134852 en Limited Access application/pdf Oxford University Press Orjuela-Ramirez, G.; Zuluaga-Jimenez, J.C.; Urbano, D. (2024) Drivers of eco-innovation: the role of appropriability strategies and complementary assets. Science and Public Policy 51 (2) p. 309–323. ISSN: 0302-3427 |
| spellingShingle | strategies finance innovation investment ecology marketing eco-innovation environmental innovation green innovation appropriability Orjuela-Ramirez, Guillermo Zuluaga Jimenez, Julio Cesar Urbano, David Drivers of eco-innovation: the role of appropriability strategies and complementary assets |
| title | Drivers of eco-innovation: the role of appropriability strategies and complementary assets |
| title_full | Drivers of eco-innovation: the role of appropriability strategies and complementary assets |
| title_fullStr | Drivers of eco-innovation: the role of appropriability strategies and complementary assets |
| title_full_unstemmed | Drivers of eco-innovation: the role of appropriability strategies and complementary assets |
| title_short | Drivers of eco-innovation: the role of appropriability strategies and complementary assets |
| title_sort | drivers of eco innovation the role of appropriability strategies and complementary assets |
| topic | strategies finance innovation investment ecology marketing eco-innovation environmental innovation green innovation appropriability |
| url | https://hdl.handle.net/10568/134852 |
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