Abstract
This article introduces two important changes regarding the substantial literature on the determinants of firms’ innovations in clean energy. Firstly, we consider not firms’ innovation performance in clean technology, but their specialization in these new technologies, through the index of revealed technological advantages. Secondly, we test the effects of a variable of path dependence (the past level of specialization) and an indicator of technological diversification. Our empirical analysis is based on a sample of 946 large globalized firms, which have a very high level of R&D expenditure. The results of the different estimations show that: 1) there is a path dependence effect, i.e., past specialization in research in clean energy technologies explains current specialization; 2) the path dependence effect is stronger with more recent technological specialization than it is with older specialization; 3) past technological diversification explains (but only weakly) current specialization in clean energy innovation. Otherwise, some determinants highlighted for firms’ innovation performance also play a role, in particular firms’ intellectual capital in clean technology.JEL classification: D22, O32, O33, Q54, Q55.
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