Do the ecoinnovation and ecodesign strategies generate value added in munificent environments?
研究了生态创新和生态设计策略对企业盈利能力和市场价值的影响，发现这些策略虽不直接提升利润，但在资源丰裕的行业中能获得资本市场更高估值。
Abstract Within innovation strategies, ecodesign and ecoinnovation are becoming very relevant in recent years as they seek to reduce the environmental impact of both products and production processes by using new technologies and ways of working that contribute to sustainable development and at the same time help to promote the competitiveness of companies. In this framework, the objective of this paper is to analyze the impact that the strategies of environmental innovation in products and processes have on the profitability and the market value of the companies, considering the moderating role that the munificence of the industry has in this relationship. Using the generalized method of moments, the results obtained from a sample of 6,454 international companies during the period 2002–2017 show that although environmental innovation strategies do not entail higher returns, they are well valued by the capital market. This was especially true in environments with greater economic growth and availability of resources, that is, in munificent environments.