Dual-Edged Sustainability: Navigating the Complex Nexus of Green Innovation and Corporate Value in Global Markets

The interplay between green innovation and corporate value is critical in contemporary business research, due to environmental challenges and market shifts toward sustainability. A review of 10 years of studies across industries identifies three dimensions: green innovation's dual role, ESG integration, and regional/stakeholder factors. Key findings show green innovation enhances competitive advantage, but overinvestment risks exist. Hybrid innovation portfolios balance value creation. The review reconciles Porter Hypothesis with resource-based critiques, suggesting future research on longitudinal analyses and digital technologies.