“…Andersen (2010) asserted that through eco‐innovation firms can enjoy the green rents that refer to gaining both reputation in the market and achieving resource efficiency. However, some research efforts pointed out the social, innovative, financial, market, and operational gains of these eco‐innovative practices (Burki, Ersoy, & Dahlstrom, 2018; Chu, Xu, Lai, & Collins, 2018; Ghisetti & Rennings, 2014; Huang & Li, 2018). Therefore, green innovations not only play a role in reducing the environmental burdens but also improve the resource productivity and operational efficiency (Chen, Lai, & Wen, 2006).…”