Does being “greener” pay? Bridging the gap between “green” technology orientation and firms’ growth

This paper analyses the impact of “green” technology orientation (GTO) on the firm’s growth. Mediation effect of environmental performance and moderation effect of environmental competitive strategies are also considered. Data from a unique sample of 177 wineries (over a 9 years long panel) and a focus group with three wine managers and a journalist were collected and analysed. Results are threefold. First, firms may pursue two different environmental performances (“Land and Ecosystem” and/or “Energy and Emission”). Second, there is no a direct relationship between the firm’s GTO and the firm’s growth, but this relationship is mediated by the environmental performances of a company. Finally, multiple combinations between environmental performances and environmental competitive strategies are able to explain firms’ growth.