Academic Journal of Business & Management, 2022, 4(19); doi: 10.25236/AJBM.2022.041909.
Pengpeng Yang1, Jingjing Cui1
1Business School, Xi’an International Studies University, Xi’an, China
A novel way to achieving sustainable development and an unavoidable option for enterprise transformation and upgrade— green innovation strategy. However, little research focuses on the formation mechanism between the implementation of green innovation strategy and enterprise performance. This research work constructs a dual-path model to test the effect of green innovation strategy on enterprise performance. This study puts forward hypotheses and tests them by hierarchical regression and bootstrap test. The findings show that a green innovation strategy has significantly stimulate enterprise performance, assist companies in establishing a positive green image, and enhance their competitive edge. When it comes to the correlation between green innovation strategy and enterprise performance (e.g. market success and financial performance), the mediating role in terms of image and competitive edge is credible, which provides significant enlightenment for enterprises’ green practices.
Green innovation strategy, market success, financial performance, green image, competitive edge
Pengpeng Yang, Jingjing Cui. Research on the dual-path between green innovation strategy and Enterprise Performance--The mediating role of green image and competitive edge. Academic Journal of Business & Management (2022) Vol. 4, Issue 19: 64-72. https://doi.org/10.25236/AJBM.2022.041909.
 Eiadat Y, Kelly A, Roche F, et al. Green and competitive? An empirical test of the mediating role of environ⁃mental innovation strategy [J]. Journal of World Business, 2008, 4(2): 131-145.
 Porter M E, Vanderlinde C. Green and competitive:Ending the stalemate[J]. Harvard Business Review, 1995, 73(5): 120-134.
 Albertini E. Does environmental management improve financial performance? A meta-analytical review [J]. Organization & Environment, 2013, 26(4): 431-457.
 Peng X R, Wei J. Eco-innovation and company performance: The mediating role of resource acquisition [J]. Studies In Dialectics Of Nature, 2014, 30(5): 60-65.
 Christmann P. Effects of “best practices” of environ⁃mental management on cost advantage: The role of complementary assets [J]. Academy of Management journal, 2000, 43(4): 663-680.
 Yang J, Liu Q H, Shi J J.The value of corporate green innovation strategy. [J]. Science Research Management, 2015, 36(1): 18-25.
 Henriques I, Sadorsky P. The relationship between environmental commitment and mangerial perceptions of stakeholder importance [J]. Academy of Management Journal, 1999, 42(1): 87-99.
 Buysse K, Verbeke A. Proactive environmental strategies:A stakeholder management perspective[J]. Strategic Management Journal, 2003, 24(5): 453-470.
 AMBEC S, LANOLE P. Does It Pay to Be Green? A Systematic Overview [J]. Academyof Management Perspectives, 2008, 22(4): 45-62.
 Hart S L, Dowell G. A natural-resource-based view of the firm:15 years after[J]. Journal of Management, 2011, 37(5): 1464-1479.
 Zhu Q H, Geng Y, et al.A comparison of regula⁃tory awareness and green supply chain management prac⁃tices among Chinese and Japanese manufacturers[J]. Strategy and the Environment, 2017, 26(1): 19-29.
 Jabbour C J, Paiva E L, et al. Environmental management in brazil: Is it a completely competitive priority? [J]. Journal of Cleaner Production, 2012, 21(2): 11-22.
 Miroshnychychenko I, Baronitini R, Teata F. Green practices and financial performance: A global outlook[J]. Journal of Cleaner Production, 2017, 147(8): 340-351.
 Phan T N, Baird K. The comprehensiveness of environ⁃mental management systems: The influence of institutional pressures and the impact on environmental performance[J]. Journal of Environmental Management, 2015, 160(7): 45-46.
 Chen Y S. The driver of green innovation and green image -green core competence [J]. Journal of Business Eth⁃ ics, 2008, 81(3): 531-543.
 Zhang X, Shen L Y, Wu Y Z. Green strategy for gaining competitive advantage in housing development: A China study[J]. Journal of Cleaner Production, 2011, 19(2/3): 157-167.
 Li Y N, Xu L. Competitive environment, green practices and performance. [J]. Science Of Science And Management Of S.& T, 2017, 38(2): 44-54.
 Tian H, Pan C L. The study of the impact of proactive environmental strategy on corporate green image [J]. Chinese Journal of Management, 2015, 12(7): 1064-1071.
 Li Y N, Ye F. Institutional environments, political connection and the usefulness of accounting information in debt contract ——Empirical evidences from chinese private listed companies [J]. Management Review, 2013, 25(1): 120-127.
 Chan R Y K. Does the natural-resource-based view of the firm apply in an emerging conomy? A survey of foreign invested enterprises in china [J]. Journal of Man⁃ agement Studies, 2005 42(3):625-672.
 Marinez E, Pina J M. Influence of corporate image on brand extensions: a model applied to the service secto[J]. Journal of Marketing Communications, 2005, 11(4): 264-281.
 Llach J, Perramon J. Joint effect of quality and environmental practices on firm performance in small service businesses: an empirical study of restaurants [J]. Journal of Cleaner Production, 2013(44).