Sustainability in the wake of crisis: Transforming climate change-induced disasters into drivers of renewable energy innovation in business

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dc.citation.volume228
dc.contributor.authorRastegar H
dc.contributor.authorSajjad A
dc.contributor.authorEweje G
dc.contributor.authorKazunori K
dc.date.accessioned2024-11-13T22:18:27Z
dc.date.available2024-11-13T22:18:27Z
dc.date.issued2024-12
dc.description.abstractThis study examines how climate change-induced disasters affect renewable energy innovation in United States-based firms. To this end, we utilized the behavioral theory of the firm and the threat rigidity model to investigate strategic decision-making in the context of environmental crises. We employed a difference-in-differences approach combined with meta-analysis. Further, we analyzed data from 2013 to 2018 and found a significant increase in renewable energy innovation following climatological disasters, marked by an effect size of 0.74. However, firms exceeding their aspiration levels exhibit a smaller impact, reducing the effect on renewable energy innovation by 0.273 units. Additionally, firms with a frequent history of climatological disasters showed a decrease in renewable energy innovation, with an effect size of -0.349. Our research contributes to green innovation literature, particularly to renewable energy innovation discourse under climate challenges. It extends the behavioral theory of the firm to contexts of climatic uncertainty and applies the threat rigidity model to determine organizational adaptation. The study introduces a novel moderator: the firm's history of natural disasters, linking firm age with disaster frequency and severity. These insights are vital for enhancing strategic decision-making in the business and policy-making contexts, amidst the growing climate change challenges.
dc.description.confidentialfalse
dc.edition.editionDecember 2024
dc.identifier.citationRastegar H, Sajjad A, Eweje G, Kobayashi K. (2024). Sustainability in the wake of crisis: Transforming climate change-induced disasters into drivers of renewable energy innovation in business. Journal of Economic Behavior and Organization. 228.
dc.identifier.doi10.1016/j.jebo.2024.106777
dc.identifier.eissn1879-1751
dc.identifier.elements-typejournal-article
dc.identifier.issn0167-2681
dc.identifier.number106777
dc.identifier.piiS0167268124003913
dc.identifier.urihttps://mro.massey.ac.nz/handle/10179/71996
dc.languageEnglish
dc.publisherElsevier BV
dc.publisher.urihttps://www.sciencedirect.com/science/article/pii/S0167268124003913
dc.relation.isPartOfJournal of Economic Behavior and Organization
dc.rights(c) 2024 The Author/s
dc.rightsCC BY 4.0
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/
dc.subjectRenewable energy innovation
dc.subjectClimate change-induced disasters
dc.subjectBehavioral theory of the firm (BTOF)
dc.subjectThreat rigidity model
dc.subjectFirm's history of natural disasters
dc.titleSustainability in the wake of crisis: Transforming climate change-induced disasters into drivers of renewable energy innovation in business
dc.typeJournal article
pubs.elements-id491893
pubs.organisational-groupOther
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