This thought-provoking book introduces a financial economics perspective to the topic of eco-innovations and, more generally, sociotechnical transitions. It develops a model that illustrates how financial constraints can prevent the development of eco-innovations within companies and hinder the transition process towards a more sustainable regime.
Edgardo Sica presents a review of the state of the art, as well as new data from original surveys aimed at testing the impact of financial constraints on eco-innovative decisions at radical and niche levels. He proposes a definitive conceptualisation of eco-innovations while stressing the relevance of the environmental performance of innovations, rather than the environmental motivation of the innovators. Through the use of a unique multilevel perspective model, the book critically analyses the extent to which financial constraints can hinder eco-innovative decisions, thereby crucially filling a gap in the current literature on eco-innovations.
Firms, Finance and Sustainable Transitions will prove a stimulating read for academics, researchers and experts within the fields of eco-innovations, sustainable development, financial and environmental economics, and green finance.
'Few imperatives are more pressing than achieving sustainability. Innovation of many forms is central to this challenge. Yet too much research in this field is divided by disciplinary boundaries. Combining insights from innovation studies, finance, ecological economics and transition studies, Edgardo Sica's book offers a refreshing remedy – with important practical implications.'
– Andrew Stirling, University of Sussex, UK
'This book is a marvellous contribution to the eco-innovation literature through its strong application of socio-technical sustainability transitions theory. It is highly recommended for students and researchers of sustainability and innovation.'
– Pelin Demirel, University of Southampton, UK
'This is a timely book covering a much debated topic from a rather novel perspective. By analysing the role of the financial sector in promoting/hindering eco-innovations through the lens of the Multilevel Perspective, it adds to three contiguous strands of research in the finance, green technology and sustainability transitions literature. Researchers dealing with any of these areas should read this book!'
– Piergiuseppe Morone, Unitelma Sapienza, Rome, Italy
Edgardo Sica, Assistant Professor of Economics, Department of Economics, University of Foggia, Italy.