Theoretical and Empirical Foundations of Energy Production Efficiency Activity

The objective of this paper is to explore the energy production efficiency activity of large R&D-intensive firms. Research methodology follows two steps: first, we describe the theoretical background through a firm level model and, second, we develop econometric techniques that explore spatial spillovers and deal with the endogeneity of the explanatory variables. The findings show a significant effect of energy innovation externalities on firms’environmental performance