Eco Innovation and Firm Performance: A Meta Analysis

The objective of the meta-analysis is to develop a comprehensive knowledge of the relationship between eco-innovation and firm performance. Total 21 articles, published in different academic journals, were selected for the meta-analysis following a systematic literature search on the web of science and Scopus. The result of the meta-analysis suggests that there is a positive relationship between eco-innovation and firm ́s financial performance. The correlation between the variables is moderate (r > .20). However, findings suggest a heterogeneity among the reported effect size. It is found that study regions and sample company size have moderating effect on the heterogeneity score, suggesting these factors affects the result of an individual study. Moreover, the funnel plots suggest there might be the presence of publication bias.