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Eco-efficiency, environmental and sustainable innovation in recycling energy and their effect on business performance: evidence from European SMEs

This paper examines the influence of adopting resource efficiency actions, saving water, saving energy, using renewable energy, saving materials, minimizing waste, selling scrap, recycling, using durable products, promoting environmental responsibility, and offering green marketing products and serv...

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Main Authors: Majid, Sara, Zhang, Xin, Khaskheli, Muhammad Bilawal, Hong, Feng, King, Patricia Jie Hung, Shamsi, Imran Haider
Format: Article
Language:English
Published: Multidisciplinary Digital Publishing Institute 2023
Online Access:http://psasir.upm.edu.my/id/eprint/107431/1/107431.pdf
http://psasir.upm.edu.my/id/eprint/107431/
https://www.mdpi.com/2071-1050/15/12/9465
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spelling my.upm.eprints.1074312024-11-04T02:39:07Z http://psasir.upm.edu.my/id/eprint/107431/ Eco-efficiency, environmental and sustainable innovation in recycling energy and their effect on business performance: evidence from European SMEs Majid, Sara Zhang, Xin Khaskheli, Muhammad Bilawal Hong, Feng King, Patricia Jie Hung Shamsi, Imran Haider This paper examines the influence of adopting resource efficiency actions, saving water, saving energy, using renewable energy, saving materials, minimizing waste, selling scrap, recycling, using durable products, promoting environmental responsibility, and offering green marketing products and services on the performance of small and medium-sized enterprises (SMEs). More specifically, we investigate specific resource efficiency actions and their impact on production costs, investment, the available support for product expansion, and the effect of encountered barriers on SME performance. We develop a theoretical framework based on stakeholder- and resource-based theories to serve as the foundation for this analysis. We use these theories to explain the link between eco-efficiency actions, firm performance, and ecological behavior, along with public policy and innovation. This study uses Flash Eurobarometer survey datasets FL342, FL381, FL426, and FL456, which cover SMEs across time and sectors in 28 EU countries. The data are analyzed through descriptive and ordered logit regression analysis, using the Statistical Package for the Social Sciences (SPSS) to test the relationship between the above variables and the parameters. In terms of practical implications, these findings are crucial in helping SMEs pursue sustainable development. According to the findings, SMEs lack information on how implementing eco-efficiency action affects their financial health and sustainable innovation. This study can provide valuable insights into how implementing eco-efficiency practices can positively impact a companys bottom line, good health, and employees well-being and how SMEs can use this information to make more informed decisions. Additionally, the findings can help inform policy makers about how to better support SMEs in pursuing sustainable development. Multidisciplinary Digital Publishing Institute 2023-06-13 Article PeerReviewed text en cc_by_4 http://psasir.upm.edu.my/id/eprint/107431/1/107431.pdf Majid, Sara and Zhang, Xin and Khaskheli, Muhammad Bilawal and Hong, Feng and King, Patricia Jie Hung and Shamsi, Imran Haider (2023) Eco-efficiency, environmental and sustainable innovation in recycling energy and their effect on business performance: evidence from European SMEs. Sustainability, 15 (12). art. no. 9465. pp. 1-30. ISSN 2071-1050 https://www.mdpi.com/2071-1050/15/12/9465 10.3390/su15129465
institution Universiti Putra Malaysia
building UPM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Putra Malaysia
content_source UPM Institutional Repository
url_provider http://psasir.upm.edu.my/
language English
description This paper examines the influence of adopting resource efficiency actions, saving water, saving energy, using renewable energy, saving materials, minimizing waste, selling scrap, recycling, using durable products, promoting environmental responsibility, and offering green marketing products and services on the performance of small and medium-sized enterprises (SMEs). More specifically, we investigate specific resource efficiency actions and their impact on production costs, investment, the available support for product expansion, and the effect of encountered barriers on SME performance. We develop a theoretical framework based on stakeholder- and resource-based theories to serve as the foundation for this analysis. We use these theories to explain the link between eco-efficiency actions, firm performance, and ecological behavior, along with public policy and innovation. This study uses Flash Eurobarometer survey datasets FL342, FL381, FL426, and FL456, which cover SMEs across time and sectors in 28 EU countries. The data are analyzed through descriptive and ordered logit regression analysis, using the Statistical Package for the Social Sciences (SPSS) to test the relationship between the above variables and the parameters. In terms of practical implications, these findings are crucial in helping SMEs pursue sustainable development. According to the findings, SMEs lack information on how implementing eco-efficiency action affects their financial health and sustainable innovation. This study can provide valuable insights into how implementing eco-efficiency practices can positively impact a companys bottom line, good health, and employees well-being and how SMEs can use this information to make more informed decisions. Additionally, the findings can help inform policy makers about how to better support SMEs in pursuing sustainable development.
format Article
author Majid, Sara
Zhang, Xin
Khaskheli, Muhammad Bilawal
Hong, Feng
King, Patricia Jie Hung
Shamsi, Imran Haider
spellingShingle Majid, Sara
Zhang, Xin
Khaskheli, Muhammad Bilawal
Hong, Feng
King, Patricia Jie Hung
Shamsi, Imran Haider
Eco-efficiency, environmental and sustainable innovation in recycling energy and their effect on business performance: evidence from European SMEs
author_facet Majid, Sara
Zhang, Xin
Khaskheli, Muhammad Bilawal
Hong, Feng
King, Patricia Jie Hung
Shamsi, Imran Haider
author_sort Majid, Sara
title Eco-efficiency, environmental and sustainable innovation in recycling energy and their effect on business performance: evidence from European SMEs
title_short Eco-efficiency, environmental and sustainable innovation in recycling energy and their effect on business performance: evidence from European SMEs
title_full Eco-efficiency, environmental and sustainable innovation in recycling energy and their effect on business performance: evidence from European SMEs
title_fullStr Eco-efficiency, environmental and sustainable innovation in recycling energy and their effect on business performance: evidence from European SMEs
title_full_unstemmed Eco-efficiency, environmental and sustainable innovation in recycling energy and their effect on business performance: evidence from European SMEs
title_sort eco-efficiency, environmental and sustainable innovation in recycling energy and their effect on business performance: evidence from european smes
publisher Multidisciplinary Digital Publishing Institute
publishDate 2023
url http://psasir.upm.edu.my/id/eprint/107431/1/107431.pdf
http://psasir.upm.edu.my/id/eprint/107431/
https://www.mdpi.com/2071-1050/15/12/9465
_version_ 1814936555953848320
score 13.211869

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