Energy Efficiency Determinants: An Empirical Analysis of Spanish Innovative Firms

IEB Working Paper N. 2014/10

28 Pages Posted: 20 Mar 2014

See all articles by M. Costa-Campi

M. Costa-Campi

University of Barcelona

Jose Garcia-Quevedo

Barcelona Institute of Economics (IEB); University of Barcelona - Faculty of Economic Science and Business Studies

Agusti Segarra Blasco

Rovira i Virgili University

Date Written: March 7, 2014

Abstract

This paper examines the extent to which innovative Spanish firms pursue improvements in energy efficiency (EE) within their innovation objectives. The increase in energy consumption and its impact on greenhouse gas emissions justifies the greater attention being paid to energy efficiency and especially to industrial EE. The ability of manufacturing companies to innovate and improve their EE has a substantial influence on reaching the objectives regarding climate change mitigation. Despite the effort to design more efficient energy policies, the EE determinants in manufacturing firms have been little studied in the empirical literature. From an exhaustive sample of Spanish manufacturing firms and using a probit model, we examine the energy efficiency determinants to those firms that have innovated. To carry out the econometric analysis, we use a panel data coming from CIS (Community Innovation Survey) for the period 2008-2011 that includes 4,458 manufacturing firms. Among firm characteristics, the empirical results underline the importance of size in facilitating the adoption of technology that improves energy efficiency; while among the factors related to companies’ behavior, the favorable influence of organizational innovations and innovations related with the reduction of environmental impacts stand out as the main factors in carrying out innovations with the objective of increasing energy efficiency.

Keywords: Energy efficiency, corporate targets, innovation, Community Innovation Survey

JEL Classification: Q40, Q55, O31

Suggested Citation

Costa-Campi, M. and Garcia-Quevedo, Jose and Blasco, Agusti Segarra, Energy Efficiency Determinants: An Empirical Analysis of Spanish Innovative Firms (March 7, 2014). IEB Working Paper N. 2014/10, Available at SSRN: https://ssrn.com/abstract=2410928 or http://dx.doi.org/10.2139/ssrn.2410928

M. Costa-Campi

University of Barcelona ( email )

Gran Via de les Corts Catalanes, 585
Barcelona, 08007
Spain

Jose Garcia-Quevedo (Contact Author)

Barcelona Institute of Economics (IEB) ( email )

Av. Diagonal 690
Barcelona, E-08034
Spain

University of Barcelona - Faculty of Economic Science and Business Studies ( email )

Barcelona
Spain

Agusti Segarra Blasco

Rovira i Virgili University ( email )

Av. Universitat 1
Tarragona, Tarragona 43204
Spain

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