Greater co-innovation and innovation efficiency through greening

The study covered in this paper investigates the relationship between green orientation, co-innovation, and innovative efficiency. By employing non-parametric techniques, the joint role of green orientation and co-innovation in optimal innovation configurations of companies was examined. Efficiency comparisons were conducted using a sample of 734 firms from seven OECD countries, obtained from the Global Competitiveness Project for 2019. The findings revealed that companies following a green orientation demonstrated significantly higher levels of innovation output as well as greater co-innovation output compared to firms without a green strategy. Specifically, the study found that the amplifying impact of green orientation on innovative efficiency is consistently enhanced across all studied economies when co-innovation is involved. Institutional co-innovation was identified as a crucial factor contributing to these results.