The Study Of The Influence Mechanism Of Green Innovation Strategy On Corporate Sustainable Competitive Advantage

For the past few years,China pays high attention to green development,and repeatedly emphasizes the significance and urgency of green development for China’s economic and social development in many momentous conferences and documents such as the ecological civilization construction in the "Five-sphere Integrated Plan",the green development connotation,the battle against pollution,the "Lucid waters and lush mountains are invaluable assets" and the carbon-neutral peak carbon dioxide emissions.All these fully reflect our country’s profound understanding of the human ecological civilization construction,and our strong belief to thoroughly solve ecological environment issues.As the micro-main body of economic development,enterprises shoulder an important mission in the process of national green transformation.As the basis of the modern industrial system,the manufacturing industry is an important starting point to achieve the goal of double carbon.Therefore,in the guiding opinions on accelerating the transformation and upgrading of traditional manufacturing industry,it is pointed out that it is necessary to strengthen green and low-carbon development and in-depth implementation of energy saving and carbon reduction transformation.In this case,manufacturing enterprises are faced with the important decision of green transformation,and green innovation strategy becomes the key to guide enterprises to sustainable development.Therefore,as well as helping to coordinate the economic and environmental performance of companies,encouraging manufacturing companies to formulate and implement green innovation strategies can also help,and improve the green manufacturing and service system to promote the lowcarbon industrial chain and finally achieve high-quality development.As a result,an increasing number of enterprises have begun to adopt green innovation strategies,which is not only a response to national policies,but also an active exploration of the coordinated development of environment and economy.Green innovation strategy is the most important kind of enterprise strategy,which refers to guiding enterprises’ green processes,products or improve management methods,thus achieving enterprises’ sustainable development goals.With this strategy,the products or services can not only meet consumers’ needs and improve people’s quality of life,but also minimize the negative impact on the environment.Through literature review,at present,academics have studied green innovation strategy from the perspectives of economic theory,organization theory,and operational management.Although scholars are more and more interested in green innovation strategy,and the research results are more and more fruitful,our understanding of green innovation strategy is not very profound.On the one hand,the influence of green innovation strategy on a company’s sustainable competitive advantage is controversial among scholars.On the other hand,the mechanism is not explored.In particular,the interaction between green intellectual capital and green dynamic capability is ignored in the process of exploring the effect of green innovation strategy.And it is often limited to theoretical research.There are relatively few studies to explain and verify the impact and process of green innovation strategy to sustainable competitive advantage from the perspective of empirical research.Based on this,whether and how enterprises can obtain sustainable competitive advantage through green innovation strategy needs further clarification.In order to solve the above research problems,this study explores the bridge for enterprises to build sustainable competitive advantage through green innovation strategy through theoretical analysis and exploratory multi-case research methods.This study takes natural resource-based theory as the leading theory to discuss.Based on knowledge-based theory and dynamic capability theory,from the perspective of knowledge resources and dynamic capability,green intellectual capital and green dynamic capability are introduced as mediators.Therefore,it can not give enterprises comprehensive and effective strategic management enlightenment in green innovation.Based on contingency theory,environmental regulation and environmental dynamics are introduced as moderators to analyze the internal mechanism,which enriches the theoretical research of green innovation strategy and expands the research on the formation path of corporate sustainable competitive advantage.Through the regression analysis and Bootstrap test of 252 valid questionnaires from South China,East China and Northeast China,the following conclusions are drawn:(1)Green innovation strategy positively affects sustainable competitive advantage;(2)green intellectual capital plays mediating g role;(3)green dynamic capability also plays mediating role;(4)green intellectual capital and green dynamic capability play a chain intermediary role;(5)environmental regulation and its two sub-dimensions(incentive environmental regulation and control environmental regulation)have a positive moderation on the main effect,and also have a positive moderation on the relationship between green innovation strategy and green intellectual capital;In addition,incentive environmental regulation has no significant regulating effect,while control environment regulation positively adjusts the mediating role of green intellectual capital;(6)environmental dynamics up-regulated effects the main connection,as well as the connection between green innovation strategy and green knowledge capital.In addition,environmental dynamics actively moderates the mediating role of green intellectual capital between main effect.In this study,we use case studies and empirical methods to make thorough investigation about how green innovation strategy affects sustainable competitive advantage.Our research has the following important theoretical values: Firstly,this study enriches natural resource-based theory by verifying the impact of green innovation strategy on sustainable competitive advantage,and provides a new theoretical perspective for understanding the main relationship.Secondly,testing the mediating roles of green intellectual capital and green dynamic capability,and further verifying the chain intermediary role of green intellectual capital and green dynamic capability between main relationship will help to expand the channels for green innovation strategy to play its value,make up for the shortcomings of existing internal mechanism and path research,and uncover the "theoretical black box" between them.In addition,based on contingency theory,from the perspective of government environmental regulation and overall environmental dynamics,the influence of it is also deeply analyzed,and the boundary conditions are expanded.The research results provide inspiration for managers of manufacturing enterprises to effectively formulate and implement green innovation strategies,provide specific decision-making reference for enterprises to implement the concept of sustainable development,and provide practical basis for promoting the high-quality development of manufacturing industry and realizing China’s dual-carbon goal.