Do circular economy practices matter for financial growth? An empirical study in China

被引：14
|
作者：
Yu, Yubing [1 ]
Xu, Jiawei [1 ]
Zhang, Justin Zuopeng [2 ]
Wu, Ye [3 ]
Liao, Zhongju [4 ]
机构：
[1] Zhejiang Wanli Univ, Logist & E Commerce Coll, Ningbo, Peoples R China
[2] Univ North Florida, Coggin Coll Business, Dept Management, Jacksonville, FL USA
[3] Shanghai Customs Coll, Sch Business Adm & Customs Affairs, Shanghai, Peoples R China
[4] Zhejiang Sci Tech Univ, Sch Econ & Management, Hangzhou, Peoples R China
来源：
JOURNAL OF CLEANER PRODUCTION | 2022年 / 370卷
关键词：
Circular economy practices; Ecological design; Investment recovery; Environmental performance; Innovation performance; Financial performance; CORPORATE SOCIAL-RESPONSIBILITY; CHAIN MANAGEMENT-PRACTICES; GREEN PRODUCT DEVELOPMENT; ORGANIZATIONAL CAPABILITY; PERFORMANCE IMPROVEMENT; IMPROPER SOLUTIONS; FIRM PERFORMANCE; ECO-INNOVATION; MEDIATING ROLE; FIT INDEXES;
D O I：
10.1016/j.jclepro.2022.133255
中图分类号：
X [环境科学、安全科学];
学科分类号：
08 ; 0830 ;
摘要：
The aggravation of environmental pollution and resource depletion has urged the international community to seek viable solutions. As the damage caused by the manufacturing industry is particularly destructive to the environment, finding an effective governance model is imperative. This study draws upon the organizational capability view to investigate the impact of circular economy practices (ecological design and investment recovery) on financial performance through environmental and innovation performance. Using structural equation modeling analyzing the data from 308 manufacturers in China by AMOS 21.0 software, we find that ecological design and investment recovery can directly enhance companies' performance. Also, environmental and innovation performances mediate the positive effects of circular economy practices on financial performance. Meanwhile, implementing ecological design contributes to investment recovery. Our study identifies the new path of circular economy practices in promoting financial performance through environmental and innovation improvement. The findings also guide managers to effectively implement ecological design and investment recovery to maximize company benefits.
引用
收藏
页数：12
相关论文
共 50 条
  • [1] An Empirical Study of Financial Efficiency and Economic Growth of China
    Xu, Jian
    He, Jianyan
    Wang, Lijuan
    [J]. PROCEEDINGS OF THE INTERNATIONAL CONFERENCE ON MANAGEMENT AND ENGINEERING (CME 2014), 2014, : 1744 - 1756
  • [2] An Empirical Study on the Relationship between Services Economy and Economy Growth in China
    Yang, Renfa
    Huang, Qiong
    [J]. 2009 THIRD INTERNATIONAL SYMPOSIUM ON INTELLIGENT INFORMATION TECHNOLOGY APPLICATION, VOL 1, PROCEEDINGS, 2009, : 477 - 480
  • [3] Complementarity of circular economy practices: an empirical analysis of Chinese manufacturers
    Yang, Yang
    Chen, Lujie
    Jia, Fu
    Xu, Zhiduan
    [J]. INTERNATIONAL JOURNAL OF PRODUCTION RESEARCH, 2019, 57 (20) : 6369 - 6384
  • [4] Financial integration and renewable energy consumption in China: do education and digital economy development matter?
    Tan, Chao
    Xu, Yunbao
    Dai, Chengbo
    Li, Bo
    Ullah, Sana
    [J]. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH, 2023, 30 (05) : 12944 - 12952
  • [5] Financial integration and renewable energy consumption in China: do education and digital economy development matter?
    Tan Chao
    Xu Yunbao
    Dai Chengbo
    Li Bo
    Sana Ullah
    [J]. Environmental Science and Pollution Research, 2023, 30 (5) : 12944 - 12952
  • [6] Innovation Strategies and Implementation of Various Circular Economy Practices: Findings from an Empirical Study in France
    Arfaoui, Nabila
    Le Bas, Christian
    Vernier, Marie-France
    Vo, Linh-Chi
    [J]. JOURNAL OF INNOVATION ECONOMICS & MANAGEMENT, 2023, (42): : 149 - 183
  • [7] The empirical study on the relativity between financial development and economic growth in China
    Yao, FG
    Chen, LQ
    [J]. PROCEEDINGS OF THE 2004 INTERNATIONAL CONFERENCE ON MANAGEMENT SCIENCE & ENGINEERING, VOLS 1 AND 2, 2004, : 1594 - 1601
  • [8] THE IMPACT OF FINANCIAL DEVELOPMENT ON CHINA's ECONOMIC GROWTH - AN EMPIRICAL STUDY
    Zhu, Xiaolong
    Zhu, Weidong
    Ding, Shuai
    Shu, Wencun
    [J]. PAKISTAN JOURNAL OF STATISTICS, 2013, 29 (06): : 1141 - 1152
  • [9] TOWARDS A CIRCULAR ECONOMY IN MALAYSIA: DO ENERGY SUBSIDIES MATTER?
    Husaini, Dzul hadzwan
    Lean, Hooi hooi
    [J]. SINGAPORE ECONOMIC REVIEW, 2024,
  • [10] Empirical Study on Circular Economy Accounting Information Disclosure in China's Listed Companies
    Shen, Hanting
    Lu, Cui
    [J]. 2015 4TH INTERNATIONAL CONFERENCE ON ENERGY AND ENVIRONMENTAL PROTECTION (ICEEP 2015), 2015, : 602 - 605
12345