Firm voluntary measures for environmental changes, eco-innovations and CSR: Empirical analysis based on data surveys.

There are still few studies that show firm voluntary measures create a primary determinant of environmental changes. We clarify the meaning of voluntary measures and CSR. We utilize a survey carried out in Luxemburg on firm CSR practices jointly with the Community Innovation Survey 2008. We show through the estimation of a probit model that CSR is an important factor explaining environmental innovation. We contribute to the literature by developing a new indicator measuring the scale of the positive impacts on the environment coming from the firm innovation capacity. There is significant and positive effect of CSR and firm value on this scale.