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Sustainability
Volume 16
Issue 8
10.3390/su16083115
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Article

The Link between Sustainable Innovation and Industrial Performance: The Case of the United States

by
Isaac Adubofour
1,*,
Samuel Tabiri
2,
Bright Parker Quayson
3,
Jeffrey Appiagyei
4 and
Isaac Duah Boateng
5
1
Department of Finance, Iowa State University, Ames, IA 50011, USA
2
Department of Statistics, Iowa State University, Ames, IA 50011, USA
3
Department of Transportation, Logistics and Finance, North Dakota State University, Fargo, ND 58105, USA
4
College of Agriculture, Food and Natural Resources, University of Missouri, Columbia, MO 65211, USA
5
Certified Group, 199 W Rhapsody Dr, San Antonio, TX 78216, USA
*
Author to whom correspondence should be addressed.
Sustainability 2024, 16(8), 3115; https://doi.org/10.3390/su16083115
Submission received: 10 January 2024 / Revised: 30 March 2024 / Accepted: 6 April 2024 / Published: 9 April 2024
(This article belongs to the Section Sustainable Management)
Review Reports Versions Notes

Abstract

Notwithstanding the impact of sustainable innovation on environmental management, its bearing on industrial performance remains hypothetical. Our study seeks to empirically investigate the link between sustainable innovation and industry performance in the United States by employing the generalized method of moments on a nine-year panel spanning from 2014 to 2022. The sample consists of 94 U.S industries, which covers about 7300 companies. The results show that sustainable innovation is not significantly related to industrial performance in the United States. However, it has a moderating effect on industrial output. The Arellano–Bond test, AR (2), confirms the robustness of our findings given the endogeneity assumption and model specifications, and the Hansen test confirms the validity of the instruments. This study expands our knowledge of the link between sustainable innovation and industry performance. A study of this kind is relevant in current times as the United States seeks to attain Sustainable Development Goal 9 by 2030. Further, it provides theoretical guidance on successful environmental management practices to enhance social welfare and maximize output.
Keywords: sustainable innovation; industrial performance; environmental management; social welfare sustainable innovation; industrial performance; environmental management; social welfare

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MDPI and ACS Style

Adubofour, I.; Tabiri, S.; Quayson, B.P.; Appiagyei, J.; Boateng, I.D. The Link between Sustainable Innovation and Industrial Performance: The Case of the United States. Sustainability 2024, 16, 3115. https://doi.org/10.3390/su16083115

AMA Style

Adubofour I, Tabiri S, Quayson BP, Appiagyei J, Boateng ID. The Link between Sustainable Innovation and Industrial Performance: The Case of the United States. Sustainability. 2024; 16(8):3115. https://doi.org/10.3390/su16083115

Chicago/Turabian Style

Adubofour, Isaac, Samuel Tabiri, Bright Parker Quayson, Jeffrey Appiagyei, and Isaac Duah Boateng. 2024. "The Link between Sustainable Innovation and Industrial Performance: The Case of the United States" Sustainability 16, no. 8: 3115. https://doi.org/10.3390/su16083115

APA Style

Adubofour, I., Tabiri, S., Quayson, B. P., Appiagyei, J., & Boateng, I. D. (2024). The Link between Sustainable Innovation and Industrial Performance: The Case of the United States. Sustainability, 16(8), 3115. https://doi.org/10.3390/su16083115

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