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oai:figshare.com:article/32617704 2026-06-09T17:15:27Z portal_1132 item_type_8 month_year_06_2026

Eco Innovation and Firm Performance in OECD Countries: Moderating Effects of Firm Age and Firm Size Ali Mammadov (21041753) Eco Innovation OECD Countries This thesis examines the financial effects of technological eco-innovation (EI) in Organisation for Economic Co-operation and Development (OECD) firms, focusing on the boundary conditions shaping the EI-firm performance (FP) link. Although the Porter Hypothesis (PH) predicts a “win‑win” competitiveness gain from EI, evidence remains mixed. Using 158,880 OECD firm‑year observations (2010–2024), the study links ORBIS financial data with PATSTAT green patents (CPC Y02), applies Two‑Way Fixed Effect (FE) models, and uses forward citations to proxy innovation quality which is testing how firm age, firm size, and post‑Paris‑Agreement dynamics shape economic outcomes. The findings offer significant contributions to the body of knowledge by challenging the universality of the PH and validating the ‘Double Externality’ problem. Specifically, the thesis introduces the ‘Slow Giant Hypothesis,’ explaining a size paradox where large firms struggle with patent volume but excel in monetizing high-quality innovation through complementary assets. Furthermore, the study identifies a ‘Maturity Premium,’ demonstrating that older firms leverage established legitimacy and supply chains to outperform younger counterparts in the green transition. These findings counter the prevailing ‘liability of oldness’ narrative. The temporal analysis reveals a J-curve effect, where short term transition costs precede delayed financial benefits. The practical implications of this research are twofold. For policymakers, the results suggest a strategic pivot from ‘Technology Push’ subsidies toward ‘Market Pull’ mechanisms like carbon pricing and green procurement to support incumbent transitions. For managers and investors, the study emphasizes prioritizing innovation quality over ‘vanity patenting,’ suggesting that mature incumbents often provide more resilient pathways for sustainable investment. While limited to the OECD context and patentable technologies, this thesis establishes a novel framework for understanding the ‘twin transition’ and provides a foundation for future research into non-technological innovations and emerging markets.<p></p> 2026-06-08T00:00:00Z Text Thesis 10779/exe.32617704.v1 https://figshare.com/articles/thesis/Eco_Innovation_and_Firm_Performance_in_OECD_Countries_Moderating_Effects_of_Firm_Age_and_Firm_Size/32617704 CC BY-NC-ND Open Access after 2027-06-09