TY - JOUR
T1 - Green tangible investment strategies and export performance: A firm-level investigation
AU - Antonietti, Roberto
AU - Marzucchi, Alberto
PY - 2014
Y1 - 2014
N2 - In this paper we empirically investigate the relationship between investments in environmentally oriented equipment and firms' export performance. We adopt a two-stage model where we first estimate the impact of green tangible investment strategies (GTIS) on the level of productive efficiency (TFP), and then assess whether induced productivity influences the propensity and the intensity of exports. We rely on a rich firm-level dataset on Italian manufacturing. Our results show that firms with higher productivity, induced among other factors by green investments combining environmental and increased revenue objectives, achieve a higher export performance. In particular, GTIS-enhanced TFP affects the probability of exporting in foreign markets characterized by more stringent environmental regulation. Our evidence supports a ‘green-based’ firm heterogeneity argument.
AB - In this paper we empirically investigate the relationship between investments in environmentally oriented equipment and firms' export performance. We adopt a two-stage model where we first estimate the impact of green tangible investment strategies (GTIS) on the level of productive efficiency (TFP), and then assess whether induced productivity influences the propensity and the intensity of exports. We rely on a rich firm-level dataset on Italian manufacturing. Our results show that firms with higher productivity, induced among other factors by green investments combining environmental and increased revenue objectives, achieve a higher export performance. In particular, GTIS-enhanced TFP affects the probability of exporting in foreign markets characterized by more stringent environmental regulation. Our evidence supports a ‘green-based’ firm heterogeneity argument.
KW - Green tangible investment strategy
KW - Total factor productivity
KW - Green tangible investment strategy
KW - Total factor productivity
UR - http://hdl.handle.net/10807/70711
U2 - 10.1016/j.ecolecon.2014.10.017
DO - 10.1016/j.ecolecon.2014.10.017
M3 - Article
SN - 0921-8009
VL - 108
SP - 150
EP - 161
JO - Ecological Economics
JF - Ecological Economics
ER -