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Risk management implementation and its efficacy towards green innovation: a conceptual framework for Malaysian solar photovoltaic industry

Bilal Mukhtar (Department of Management and Humanities, Universiti Teknologi PETRONAS, Tronoh, Malaysia)
Muhammad Kashif Shad (Department of Management and Humanities, Universiti Teknologi PETRONAS, Tronoh, Malaysia)
Lai Fong Woon (Department of Management and Humanities, Universiti Teknologi PETRONAS, Tronoh, Malaysia)
Salaheldin Hamad (Accounting Department, Faculty of Commerce, Kafrelsheikh University, Kafr el-Sheikh, Egypt)

Journal of Economic and Administrative Sciences

ISSN: 1026-4116

Article publication date: 10 April 2023

340

Abstract

Purpose

This study aims to propose a conceptual framework to examine the impact of risk management implementation on green innovation in the Malaysian solar photovoltaic (PV) manufacturing industry.

Design/methodology/approach

The study is based on primary data to be collected from 30 Malaysian solar PV manufacturing companies through a questionnaire that incorporates the five-point Likert scale. The exploratory factor analysis (EFA) is proposed to be performed using SPSS 24.0 and confirmatory factor analysis (CFA) is suggested to be conducted using AMOS.21 software to explore the factors and reliability of the items and to confirm the factorial structure of risk management implementation and green innovation. Furthermore, partial least square-structural equation modeling (PLS-SEM) is proposed to investigate relationships between constructs and latent variables.

Findings

The proposed framework is based on the stakeholder's theory and suggests that the comprehensive implementation of risk management has a significant and positive impact on green innovation in the Malaysian solar PV manufacturing industry.

Practical implications

This study provides insight into formulating strategies for enhancing green innovation in the solar PV manufacturing sector and serves as a valuable resource for stakeholders.

Originality/value

The significance of the proposed conceptual framework lies in its ability to enhance the workability of the stakeholder's theory and to create value for stakeholders through the implementation of risk management to drive green innovation. This study adds to the existing literature by exploring the relationship between risk management and green innovation in the solar PV manufacturing industry.

Keywords

Acknowledgements

The authors are highly thankful to the Center of Social Innovation (CoSI) and Management and Humanities Department, Universiti Teknologi PETRONAS, Malaysia for providing research facilities. This research is financially supported by the Ministry of Higher Education (MOHE) Malaysia under Fundamental Research Grant Scheme (Grant reference code number: FRGS/1/2020/SS01/UTP/02/1); Cost Center: 015MA0-105.

Citation

Mukhtar, B., Shad, M.K., Woon, L.F. and Hamad, S. (2023), "Risk management implementation and its efficacy towards green innovation: a conceptual framework for Malaysian solar photovoltaic industry", Journal of Economic and Administrative Sciences, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/JEAS-12-2022-0260

Publisher

:

Emerald Publishing Limited

Copyright © 2023, Emerald Publishing Limited

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