An examination of ecopreneurs’ incentives through a combination between institutional and resource-based approach

Abstract

Purpose The purpose of this paper is to address two research questions: which are the key factors that stimulate entrepreneurs to invest in ecopreneurship, and how ecopreneurhsip contributes to environmental sustainability. Design/methodology/approach To answer these questions, a framework has been developed to identify the incentives that lead entrepreneurs to invest in firms in the ecopreneurship through institutional and resource-based thinking. Findings From a survey of 91 Greek firms from the green service sector, it is shown that some specific institutional and resource-based view factors play a critical role in green entrepreneurs’ decisions, as well as some certain environmental practices that are frequently used by entrepreneurs to address environmental issues. Research limitations/implications First, the answer of the second research question through data collected by a questionnaire survey may be faced with skepticism by some authors, as it could be seen that entrepreneurs and managers of firms could have overstated their company's environmental activities. Second, although the sample selection of 91 firms is a representative sample (response rate 12.35 percent) of the total population of Greek green firms (761) and equal to other relative studies, a higher number of firms and a wider variety of green entrepreneurship ventures is necessary in future research. Practical implications The findings are useful for scholars, practitioners and policy makers since it provide information regarding the behavior of green entrepreneurs. Originality/value The paper analyze the types of green entrepreneurs in relation to the different features and strategies which are emerged from two theories, such as institutional and resource-based theory.