What are Eco-Innovations?


Due to the challenges associated with measuring eco-innovations from patent information and surveys, the literature-based innovation output (LBIO) indicator, built from a data base of new product announcements in technical and trade journals, has emerged as a feasible alternative. Eco-innovation is a fuzzy concept because it is often synonymously used with green, sustainable and environmental innovations. Therefore, researchers face difficulty in creating a database for eco-innovations. Also, business practitioners may not be able to clearly define or revise their vision/mission statement(s) with respect to what constitutes an eco-innovation especially during the times of business dilemma. Thus, it becomes imperative to develop an exhaustive and objective definition of eco-innovations that can be used by all. This paper tries to do this in three steps. In the first step, the authors examine the nuanced differences between the four concepts. In the second step based on the nuanced relationship, the authors develop lexicographic definition of eco-innovations in relation to the other concepts. The definition is imputed from the abstracts of academic journal papers extracted from the EBSCO database using the ā€�tmā€™ package in R software. In the final step, the authors validate the imputed definition to demarcate the boundaries of eco-innovations that will facilitate the creation of databases through LBIO using the descriptors as identifiers.

Author Information
Deepika Verma, Indian Institute of Management Calcutta, India
Runa Sarkar, Indian Institute of Management Calcutta, India

Paper Information
Conference: ECSS2017
Stream: Economics and Management

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Posted by James Alexander Gordon