The circularity of the business model and the performance of bioeconomy firms: An interactionist business-environment model

References

• Adler, P., & Kwon, S. W. (2002). Social capital: prospects for a new concept. The Academy of Management Review, 27(1), 17–27. https://doi.org/10.2307/4134367
   Web of Science ®Google Scholar
• Agyemang, M., Kusi-Sarpong, S., Khan, S. A., Mani, V., Rehman, S. T., & Kusi-Sarpong, H. (2019). Drivers and barriers to circular economy implementation: An explorative study in Pakistan’s automobile industry. Management Decision, 57(4), 971–994. https://doi.org/10.1108/MD-11-2018-1178
   Web of Science ®Google Scholar
• Ahuja, G., & Lampert, C. (2001). Entrepreneurship in the large corporation: A longitudinal study of how established firms create breakthrough inventions. Strategic Management Journal, 22(6‐7), 521–543. https://doi.org/10.1002/smj.176
   Web of Science ®Google Scholar
• Alcalde-Calonge, A., Sáez-Martínez, F. J., & Ruiz-Palomino, P. (2022). Evolution of research on circular economy and related trends and topics. A thirteen-year review. Ecological Informatics, 70, 101716. https://doi.org/10.1016/j.ecoinf.2022.101716
   Web of Science ®Google Scholar
• Alexiev, A. S., Volberda, H. W., & Van den Bosch, F. A. (2016). Interorganizational collaboration and firm innovativeness: Unpacking the role of the organizational environment. Journal of Business Research, 69(2), 974–984. https://doi.org/10.1016/j.jbusres.2015.09.002
   Web of Science ®Google Scholar
• Ambec, S., & Lanoie, P. (2008). Does it pay to be green? A systematic overview. The Academy of Management Perspectives, 45–62. https://www.jstor.org/stable/27747478
   Web of Science ®Google Scholar
• Auriault, C., Aze, F., Morgan, J., Sopelana Gato, A., Fifer Bizjak, K., Mauko, A., Mladenovic, A., Feirrera, V., Canas Rojas, A., Costa Branco, P.M., de Oliveira Rodrigues, P., Cepria Pamplona, J.J. (2017). Comprehensive analysis of the existing and emerging approaches of circular economy models in pulp and paper industry. Paperchain. https://ec.europa.eu/research/participants/documents/downloadPublic?documentIds=080166e5b510caf8&appId=PPGMS
   Google Scholar
• Bansal, P., & Roth, K. (2000). Why companies go green: A model of ecological responsiveness. Academy of Management Journal, 43(4), 717–736. https://doi.org/10.5465/1556363
   Web of Science ®Google Scholar
• Bassens, D., De Boeck, S., Kębłowski, W., Lambert, D., & Reinhardt, H. (2020). Toward a circular economy scan: measuring circular practices among retailers in the Brussels Capital Region. Project: (Circity) Circular Economy and the City. https://www.researchgate.net/publication/348415963_Toward_a_Circular_Economy_Scan_Measuring_Circular_Practices_among_Retailers_in_the_Brussels_Capital_Region
   Google Scholar
• Bergmann, A., Stechemesser, K., & Guenther, E. (2016). Natural resource dependence theory: Impacts of extreme weather events on organizations. Journal of Business Research, 69(4), 1361–1366. https://doi.org/10.1016/j.jbusres.2015.10.108
   Web of Science ®Google Scholar
• Bhandari, H., & Yasunobu, K. (2009). What is social capital? A comprehensive review of the concept. Asian Journal of Social Science, 37(3), 480–510. https://doi.org/10.1163/156853109X436847
   Web of Science ®Google Scholar
• Bocigas, P. B., López, J. E. N., & Sáez, P. L. (2010). El efecto mediador del capital social sobre los beneficios de la empresa: Una aproximación teórica. Cuadernos de Estudios Empresariales, 20, 11. https://revistas.ucm.es/index.php/CESE/article/download/38959/37591/0
   Google Scholar
• Bocken, N. M., & Geradts, T. H. (2020). Barriers and drivers to sustainable business model innovation: Organization design and dynamic capabilities. Long Range Planning, 53(4), 101950. https://doi.org/10.1016/j.lrp.2019.101950
   Web of Science ®Google Scholar
• Caruana, R., & Crane, A. (2008). Constructing consumer responsibility: Exploring the role of corporate communications. Organization Studies, 29(12), 1495–1519. https://doi.org/10.1177/0170840607096387
   Web of Science ®Google Scholar
• Chege, S. M., & Wang, D. (2020). The influence of technology innovation on SME performance through environmental sustainability practices in Kenya. Technology in Society, 60, 101210. https://doi.org/10.1016/j.techsoc.2019.101210
   Web of Science ®Google Scholar
• Chiappetta Jabbour, C. J., Seuring, S., Lopes de Sousa Jabbour, A. B., Jugend, D., De Camargo Fiorini, P., Latan, H., & Izeppi, W. C. (2020). Stakeholders, innovative business models for the circular economy and sustainable performance of firms in an emerging economy facing institutional voids. Journal of Environmental Management, 264, 110416. https://doi.org/10.1016/j.jenvman.2020.110416
   PubMed Web of Science ®Google Scholar
• Cohen, W. M., & Levinthal, D. A. (1990). Absorptive capacity: A new perspective on learning and innovation. Administrative Science Quarterly, 35(1), 128–152. https://doi.org/10.2307/2393553
   Web of Science ®Google Scholar
• Coleman, J. S. (1988). Social capital in the creation of human capital. American Journal of Sociology, 94, S95–S120. https://doi.org/10.1086/228943
   Web of Science ®Google Scholar
• Conner, K. R. (1991). A historical comparison of resource-based theory and five schools of thought within industrial organization economics: Do we have a new theory of the firm? Journal of Management, 17(1), 121–154. https://doi.org/10.1177/014920639101700109
   Web of Science ®Google Scholar
• Corrêa, V. S., Queiroz, M. M., & Shigaki, H. B. (2021). Social capital and individual entrepreneurial orientation: Innovativeness, proactivity, and risk-taking in an emerging economy. Benchmarking: An International Journal, 28(7), 2280–2298. https://doi.org/10.1108/BIJ-11-2020-0602
   Web of Science ®Google Scholar
• Covin, J. G., Rigtering, J. C., Hughes, M., Kraus, S., Cheng, C. F., & Bouncken, R. B. (2020). Individual and team entrepreneurial orientation: Scale development and configurations for success. Journal of Business Research, 112, 1–12. https://doi.org/10.1016/j.jbusres.2020.02.023
   Web of Science ®Google Scholar
• Covin, J. G., & Slevin, D. P. (1989). Strategic management of small firms in hostile and benign environments. Strategic Management Journal, 10(1), 75–87. https://doi.org/10.1002/smj.4250100107
   Web of Science ®Google Scholar
• Criado-Gomis, A., Cervera-Taulet, A., & Iniesta-Bonillo, M. A. (2017). Sustainable entrepreneurial orientation: A business strategic approach for sustainable development. Sustainability, 9(9), 1667. https://doi.org/10.3390/su9091667
   Web of Science ®Google Scholar
• Dada, O., & Fogg, H. (2016). Organizational learning, entrepreneurial orientation, and the role of university engagement in SMEs. International Small Business Journal, 34(1), 86–104.
   Web of Science ®Google Scholar
• Danneels, E. (2011). Trying to become a different type of company: Dynamic capability at Smith Corona. Strategic Management Journal, 32(1), 1–31. https://doi.org/10.1002/smj.863
   Web of Science ®Google Scholar
• Davidsson, P., & Honig, B. (2003). The role of social and human capital among nascent entrepreneurs. Journal of Business Venturing, 18(3), 301–331. https://doi.org/10.1016/S0883-90260200097-6
   Web of Science ®Google Scholar
• De Carolis, D. M., Litzky, B. E., & Eddleston, K. A. (2009). Why networks enhance the progress of new venture creation: The influence of social capital and cognition. Entrepreneurship Theory and Practice, 33(2), 527–545. https://doi.org/10.1111/j.1540-6520.2009.00302.x
   Web of Science ®Google Scholar
• De Clercq, D., Dimov, D., & Thongpapanl, N. (2013). Organizational social capital, formalization, and internal knowledge sharing in entrepreneurial orientation formation. Entrepreneurship Theory and Practice, 37(3), 505–537. https://doi.org/10.1111/etap.12021
   Web of Science ®Google Scholar
• de Jesus, A., Antunes, P., Santos, R., & Mendonça, S. (2018). Eco-innovation in the transition to a circular economy: An analytical literature review. Journal of Cleaner Production, 172, 2999–3018. https://doi.org/10.1016/j.jclepro.2017.11.111
   Web of Science ®Google Scholar
• Delmas, M. A., & Montes-Sancho, M. J. (2011). An institutional perspective on the diffusion of international management system standards: The case of the environmental management standard ISO 14001. Business Ethics Quarterly, 21(1), 103–132. https://doi.org/10.5840/beq20112115
   Web of Science ®Google Scholar
• Dess, G. G., & Lumpkin, G. T. (2005). The role of entrepreneurial orientation in stimulating effective corporate entrepreneurship. Academy of Management Perspectives, 19(1), 147–156. https://doi.org/10.5465/ame.2005.15841975
   Web of Science ®Google Scholar
• DiVito, L., & Bohnsack, R. (2017). Entrepreneurial orientation and its effect on sustainability decision tradeoffs: The case of sustainable fashion firms. Journal of Business Venturing, 32(5), 569–587. https://doi.org/10.1016/j.jbusvent.2017.05.002
   Web of Science ®Google Scholar
• Doran, J., & Ryan, G. (2016). The importance of the diverse drivers and types of environmental innovation for firm performance. Business Strategy and the Environment, 25(2), 102–119. https://doi.org/10.1002/bse.1860
   Web of Science ®Google Scholar
• Eisenhardt, K. M., & Martin, J. A. (2000). Dynamic capabilities: What are they? Strategic Management Journal, 21(10‐11), 1105–1121. https://doi.org/10.1002/1097-0266(200010/11)21:10/11/3C1105::AID-SMJ133%3E3.0.CO;2-E
   Web of Science ®Google Scholar
• Elkington, J. (2013). Triple Bottom Line. In E. Kessler (Ed.), Encyclopedia of management theory (Vol. 1, pp. 902–904). SAGE Publications, Ltd. https://doi.org/10.4135/9781452276090.n85
   Google Scholar
• Esken, B., Franco-García, M. L., & Fisscher, O. A. (2018). CSR perception as a signpost for circular economy. Management Research Review, 41(5), 586–604. https://doi.org/10.1108/MRR-02-2018-0054
   Web of Science ®Google Scholar
• Evans, P., Pucik, V., & Barsoux, J. (2002). The Global Challenge: Frameworks for International Human Resource Management. Mcgraw-Hill (Tx).
   Google Scholar
• Ferris, S. P., Javakhadze, D., & Rajkovic, T. (2017). CEO social capital, risk-taking and corporate policies. Journal of Corporate Finance, 47, 46–71. https://doi.org/10.1016/j.jcorpfin.2017.09.003
   Web of Science ®Google Scholar
• Festing, M., & Eidems, J. (2011). A process perspective on transnational HRM systems—A dynamic capability-based analysis. Human Resource Management Review, 21(3), 162–173. https://doi.org/10.1016/j.hrmr.2011.02.002
   Web of Science ®Google Scholar
• Fischer, A., & Pascucci, S. (2017). Institutional incentives in circular economy transition: The case of material use in the Dutch textile industry. Journal of Cleaner Production, 155, 17–32. https://doi.org/10.1016/j.jclepro.2016.12.038
   Web of Science ®Google Scholar
• Fortunati, S., Martiniello, L., & Morea, D. (2020). The strategic role of the corporate social responsibility and circular economy in the cosmetic industry. Sustainability, 12(12), 5120. https://doi.org/10.3390/su12125120 https://doi.org/10.3390/su12125120
   Web of Science ®Google Scholar
• Franco, N. G., Almeida, M. F. L., & Calili, R. F. (2021). A strategic measurement framework to monitor and evaluate circularity performance in organizations from a transition perspective. Sustainable Production and Consumption, 27, 1165–1182. https://doi.org/10.1016/j.spc.2021.02.017
   Web of Science ®Google Scholar
• Frishammar, J., & Parida, V. (2019). Circular Business Model Transformation: A Roadmap for Incumbent Firms. California Management Review, 61(2), 5–29. https://doi.org/10.1177/0008125618811926
   Web of Science ®Google Scholar
• García‐Quevedo, J., Jové‐Llopis, E., & Martínez‐Ros, E. (2020). Barriers to the circular economy in European small and medium‐sized firms. Business Strategy and the Environment, 29(6), 2450–2464. https://doi.org/10.1002/bse.2513
   Web of Science ®Google Scholar
• García-Villaverde, P. M., Rodrigo-Alarcón, J., Ruiz-Ortega, M. J., & Parra-Requena, G. (2018). The role of knowledge absorptive capacity on the relationship between cognitive social capital and entrepreneurial orientation. Journal of Knowledge Management, 22(5), 1015–1036. https://doi.org/10.1108/JKM-07-2017-0304
   Web of Science ®Google Scholar
• Geissdoerfer, M., Savaget, P., Bocken, N. M., & Hultink, E. J. (2017). The Circular Economy–A new sustainability paradigm? Journal of Cleaner Production, 143, 757–768. https://doi.org/10.1016/j.jclepro.2016.12.048
   Web of Science ®Google Scholar
• Gong, Z., Guo, K., He, X., & Wang, W. (2021). Corporate social responsibility based on radial basis function neural network evaluation model of low-carbon circular economy coupled development. Complexity, 2021, 1–11. https://doi.org/10.1155/2021/5592569
   Web of Science ®Google Scholar
• Goyal, S., Chauhan, S., & Mishra, P. (2021). Circular economy research: A bibliometric analysis (2000–2019) and future research insights. Journal of Cleaner Production, 287, 125011. https://doi.org/10.1016/j.jclepro.2020.125011
   Web of Science ®Google Scholar
• Granovetter, M. (1992). Economic institutions as social constructions: A framework for analysis. Acta Sociologica, 35(1), 3–11. https://www.jstor.org/stable/4194749
   Web of Science ®Google Scholar
• Green, K. M., Covin, J. G., & Slevin, D. P. (2008). Exploring the relationship between strategic reactiveness and entrepreneurial orientation: The role of structure–style fit. Journal of Business Venturing, 23(3), 356–383. https://doi.org/10.1016/j.jbusvent.2007.01.002
   Web of Science ®Google Scholar
• Green, K. W., Zelbst, P. J., Meacham, J., & Bhadauria, V. S. (2012). Green supply chain management practices: Impact on performance. Supply Chain Management: An International Journal, 17(3), 290–305. https://doi.org/10.1108/13598541211227126
   Web of Science ®Google Scholar
• Hansen, M. T. (2002). Knowledge networks: Explaining effective knowledge sharing in multiunit companies. Organization Science, 13(3), 232–248. https://doi.org/10.1287/orsc.13.3.232.2771
   Web of Science ®Google Scholar
• Helfat, C. E., & Martin, J. A. (2015). Dynamic managerial capabilities: A perspective on the relationship between managers, creativity, and innovation. In P. E. Nathan (Ed.), The Oxford handbook of creativity, innovation, and entrepreneurship (pp. 421–432). Oxford University Press.
   Google Scholar
• Herrero, I. (2018). How familial is family social capital? Analyzing bonding social capital in family and nonfamily firms. Family Business Review, 31(4), 441–459. https://doi.org/10.1177/0894486518784475
   Web of Science ®Google Scholar
• Hina, M., Chauhan, C., Kaur, P., Kraus, S., & Dhir, A. (2022). Drivers and barriers of circular economy business models: Where we are now, and where we are heading. Journal of Cleaner Production, 333, 130049. https://doi.org/10.1016/j.jclepro.2021.130049
   Web of Science ®Google Scholar
• Hornsby, J. S., Kuratko, D. F., Shepherd, D. A., & Bott, J. P. (2009). Managers’ corporate entrepreneurial actions: Examining perception and position. Journal of Business Venturing, 24(3), 236–247. https://doi.org/10.1016/j.jbusvent.2008.03.002
   Web of Science ®Google Scholar
• Huber, F. (2009). Social capital of economic clusters: Towards a network‐based conception of social resources. Tijdschrift voor Economische En Sociale Geografie, 100(2), 160–170. https://doi.org/10.1111/j.1467-9663.2009.00526.x
   Web of Science ®Google Scholar
• Hughes, M., Morgan, R. E., Ireland, R. D., & Hughes, P. (2014). Social capital and learning advantages: A problem of absorptive capacity. Strategic Entrepreneurship Journal, 8(3), 214–233. https://doi.org/10.1002/sej.1162
   Web of Science ®Google Scholar
• Inkpen, A. C., & Tsang, E. W. (2005). Social capital, networks, and knowledge transfer. Academy of Management Review, 30(1), 146–165. https://doi.org/10.5465/amr.2005.15281445
   Web of Science ®Google Scholar
• Iturrioz, C., Aragón, C., & Narvaiza, L. (2015). How to foster shared innovation within SMEs’ networks: Social capital and the role of intermediaries. European Management Journal, 33(2), 104–115. https://doi.org/10.1016/j.emj.2014.09.003
   Web of Science ®Google Scholar
• Jakhar, S. K., Mangla, S. K., Luthra, S., & Kusi-Sarpong, S. (2018). When stakeholder pressure drives the circular economy: Measuring the mediating role of innovation capabilities. Management Decision, 57(4). https://doi.org/10.1108/MD-09-2018-0990
   Web of Science ®Google Scholar
• Jena, S. K., & Sarmah, S. P. (2015). Measurement of consumers’ return intention index towards returning the used products. Journal of Cleaner Production, 108, 818–829. https://doi.org/10.1016/j.jclepro.2015.05.115
   Web of Science ®Google Scholar
• Johnson, W. H., & Filippini, R. (2009). Internal vs. external collaboration: What works. Research-Technology Management, 52(3), 15–17. https://doi.org/10.1080/08956308.2009.11657564
   Web of Science ®Google Scholar
• Jones, P. T., Geysen, D., Tielemans, Y., Van Passel, S., Pontikes, Y., Blanpain, B., Hoekstra, N., & Hoekstra, N. (2013). Enhanced Landfill Mining in view of multiple resource recovery: A critical review. Journal of Cleaner Production, 55, 45–55. https://doi.org/10.1016/j.jclepro.2012.05.021
   Web of Science ®Google Scholar
• Joustra, D. J., Schuurman, M., van den Dungen, P., van den Beukel, J.W., van Raak, R., Loorbach, D., van Eijk, F. (2014). Ondernemen in de circulaire economie. Nieuwe Verdienmodellen voor Bedrijven en Ondernemers. Oneplanetarchitecture Institute. https://issuu.com/douwejanjoustra/docs/circulaire_eco_enkel_met_omslag_cor
   Google Scholar
• Juárez-Luis, G., Sánchez-Medina, P. S., & Díaz-Pichardo, R. (2018). Institutional pressures and green practices in small agricultural businesses in Mexico: The mediating effect of farmers’ environmental concern. Sustainability, 10(12), 4461. https://doi.org/10.3390/su10124461
   Web of Science ®Google Scholar
• Kaasa, A. (2009). Effects of different dimensions of social capital on innovative activity: Evidence from Europe at the regional level. Technovation, 29(3), 218–233. https://doi.org/10.1016/j.technovation.2008.01.003
   Web of Science ®Google Scholar
• Kanashiro, P., & Rivera, J. (2019). Do chief sustainability officers make companies greener? The moderating role of regulatory pressures. Journal of Business Ethics, 155(3), 687–701. https://doi.org/10.1007/s10551-017-3461-2
   Web of Science ®Google Scholar
• Kazancoglu, Y., Kazancoglu, I., & Sagnak, M. (2018). A new holistic conceptual framework for green supply chain management performance assessment based on circular economy. Journal of Cleaner Production, 195, 1282–1299. https://doi.org/10.1016/j.jclepro.2018.06.015
   Web of Science ®Google Scholar
• Keltner, D., Gruenfeld, D. H., & Anderson, C. (2003). Power, approach, and inhibition. Psychological Review, 110(2), 265 https://doi.org/10.1037/0033-295X.110.2.265.
   PubMed Web of Science ®Google Scholar
• Kemp, R., & Pearson, P. (2007). Final report MEI project about measuring eco-innovation. UM Merit, Maastricht, 10(2). https://lab.merit.unu.edu/wp-content/uploads/2021/05/Final-report-MEI-project-about-measuring-eco-innovation-1.pdf
   Google Scholar
• Khan, S. A. R., Ponce, P., Tanveer, M., Aguirre-Padilla, N., Mahmood, H., & Shah, S. A. A. (2021). Technological innovation and circular economy practices: Business strategies to mitigate the effects of COVID-19. Sustainability, 13(15), 8479. https://doi.org/10.3390/su13158479
   Web of Science ®Google Scholar
• Kim, Y. (2005). Board network characteristics and firm performance in Korea. Corporate Governance: An International Review, 13(6), 800–808. https://doi.org/10.1111/j.1467-8683.2005.00471.x
   Web of Science ®Google Scholar
• King, A. A., & Lenox, M. J. (2001). Does it really pay to be green? An empirical study of firm environmental and financial performance: An empirical study of firm environmental and financial performance. Journal of Industrial Ecology, 5(1), 105–116. https://doi.org/10.1162/108819801753358526
   Google Scholar
• Kirchherr, J., Piscicelli, L., Bour, R., Kostense-Smit, E., Muller, J., Huibrechtse-Truijens, A., & Hekkert, M. (2018). Barriers to the circular economy: Evidence from the European Union (EU). Ecological Economics, 150, 264–272. https://doi.org/10.1016/j.ecolecon.2018.04.028
   Web of Science ®Google Scholar
• Klassen, R. D., & Whybark, D. C. (1999). The impact of environmental technologies on manufacturing performance. Academy of Management Journal, 42(6), 599–615. https://doi.org/10.5465/256982
   Web of Science ®Google Scholar
• Korhonen, J., Honkasalo, A., & Seppälä, J. (2018). Circular economy: The concept and its limitations. Ecological Economics, 143, 37–46. https://doi.org/10.1016/j.ecolecon.2017.06.041
   Web of Science ®Google Scholar
• Kubo, I., Saka, A., & Pan, S. L. (2001). Behind the scenes of knowledge sharing in a Japanese bank. Human Resource Development International, 4(4), 465–485. https://doi.org/10.1080/13678860010025418
   Google Scholar
• Kuratko, D. F., Ireland, R. D., Covin, J. G., & Hornsby, J. S. (2005). A model of middle–level managers’ entrepreneurial behavior. Entrepreneurship Theory and Practice, 29(6), 699–716. https://doi.org/10.1111/j.1540-6520.2005.00104.x
   Web of Science ®Google Scholar
• Kusa, R., Marques, D. P., & Navarrete, B. R. (2019). External cooperation and entrepreneurial orientation in industrial clusters. Entrepreneurship & Regional Development, 31(1–2), 119–132. https://doi.org/10.1080/08985626.2018.1537151
   Web of Science ®Google Scholar
• Lacy, P., & Rutqvist, J. (2016). Waste to wealth: The circular economy advantage. Springer.
   Google Scholar
• Leana, C. R., & Pil, F. K. (2006). Social capital and organizational performance: Evidence from urban public schools. Organization Science, 17(3), 353–366. https://doi.org/10.1287/orsc.1060.0191
   Web of Science ®Google Scholar
• Leigh, M., & Li, X. (2015). Industrial ecology, industrial symbiosis and supply chain environmental sustainability: A case study of a large UK distributor. Journal of Cleaner Production, 106, 632–643. https://doi.org/10.1016/j.jclepro.2014.09.022
   Web of Science ®Google Scholar
• Liao, J., Welsch, H., & Stoica, M. (2003). Organizational absorptive capacity and responsiveness: An empirical investigation of growth–oriented SMEs. Entrepreneurship Theory and Practice, 28(1), 63–86. https://doi.org/10.1111/1540-8520.00032
   Web of Science ®Google Scholar
• Lieder, M., & Rashid, A. (2016). Towards circular economy implementation: A comprehensive review in context of manufacturing industry. Journal of Cleaner Production, 115, 36–51. https://doi.org/10.1016/j.jclepro.2015.12.042
   Web of Science ®Google Scholar
• Linton, G. (2019). Innovativeness, risk-taking, and proactiveness in startups: A case study and conceptual development. Journal of Global Entrepreneurship Research, 9(1), 20. https://doi.org/10.1186/s40497-019-0147-5
   Web of Science ®Google Scholar
• Li, J., & Yu, K. (2011). A study on legislative and policy tools for promoting the circular economic model for waste management in China. Journal of Material Cycles and Waste Management, 13(2), 103–112. https://doi.org/10.1007/s10163-011-0010-4
   Web of Science ®Google Scholar
• Lockett, A., Wiklund, J., Davidsson, P., & Girma, S. (2011). Organic and acquisitive growth: Re‐examining, testing and extending Penrose’s growth theory. Journal of Management Studies, 48(1), 48–74. https://doi.org/10.1111/j.1467-6486.2009.00879.x
   Web of Science ®Google Scholar
• Lubin, D. A., & Esty, D. C. (2010). The sustainability imperative: Lessons for leaders from previous game-changing megatrends. Harvard Business Review, 88(5), 42–50. https://hbr.org/2010/05/the-sustainability-imperative
   Web of Science ®Google Scholar
• Lumpkin, G. T., & Dess, G. G. (1996). Clarifying the entrepreneurial orientation construct and linking it to performance. Academy of Management Review, 21(1), 135–172. https://doi.org/10.2307/258632
   Web of Science ®Google Scholar
• Lumpkin, G. T., & Dess, G. G. (2001). Linking two dimensions of entrepreneurial orientation to firm performance: The moderating role of environment and industry life cycle. Journal of Business Venturing, 16(5), 429–451. https://doi.org/10.1016/S0883-90260000048-3
   Web of Science ®Google Scholar
• Luna-Arocas, R., Danvila-Del Valle, I., & Lara, F. J. (2020). Talent management and organizational commitment: The partial mediating role of pay satisfaction. Employee Relations: The International Journal, 42(4), 863–881. https://doi.org/10.1108/ER-11–2019-0429
   Web of Science ®Google Scholar
• Luu, N., & Ngo, L. V. (2019). Entrepreneurial orientation and social ties in transitional economies. Long Range Planning, 52(1), 103–116. https://doi.org/10.1016/j.lrp.2018.04.001
   Web of Science ®Google Scholar
• MacArthur Foundation, E.(2012). Towards the circular economy, economic and business rationale for an accelerated transition, Ellen MacArthur Foundation. Cowes, UK, 21–34. https://www.ellenmacarthurfoundation.org/assets/downloads/publications/Ellen-MacArthur-Foundation-Towards-the-Circular-Economy-vol.1.pdf
   Google Scholar
• Markard, J., Raven, R., & Truffer, B. (2012). Sustainability transitions: An emerging field of research and its prospects. Research Policy, 41(6), 955–967. https://doi.org/10.1016/j.respol.2012.02.013
   Web of Science ®Google Scholar
• Martínez-Conesa, I., Soto-Acosta, P., & Palacios-Manzano, M. (2017). Corporate social responsibility and its effect on innovation and firm performance: An empirical research in SMEs. Journal of Cleaner Production, 142, 2374–2383. https://doi.org/10.1016/j.jclepro.2016.11.038
   Web of Science ®Google Scholar
• Mathews, J. A., & Tan, H. (2011). Progress toward a circular economy in China: The drivers (and inhibitors) of eco‐industrial initiative. Journal of Industrial Ecology, 15(3), 435–457. https://doi.org/10.1111/j.1530-9290.2011.00332.x
   Web of Science ®Google Scholar
• Matus, K. J., Xiao, X., & Zimmerman, J. B. (2012). Green chemistry and green engineering in China: Drivers, policies and barriers to innovation. Journal of Cleaner Production, 32, 193–203. https://doi.org/10.1016/j.jclepro.2012.03.033
   Web of Science ®Google Scholar
• Mazzucchelli, A., Chierici, R., Del Giudice, M., & Bua, I. (2022). Do circular economy practices affect corporate performance? Evidence from Italian large‐sized manufacturing firms. Corporate Social Responsibility and Environmental Management. https://doi.org/10.1002/csr.2298
   Web of Science ®Google Scholar
• Mboli, J. S., Thakker, D., & Mishra, J. L. (2020). An Internet of Things‐enabled decision support system for circular economy business model. Software: Practice & Experience. https://doi.org/10.1002/spe.2825
   Web of Science ®Google Scholar
• McCormick, K., & Kautto, N. (2013). The bioeconomy in Europe: An overview. Sustainability, 5(6), 2589–2608. https://doi.org/10.3390/su5062589
   Web of Science ®Google Scholar
• Metta, H., & Badurdeen, F. (2012). Integrating sustainable product and supply chain design: Modeling issues and challenges. IEEE Transactions on Engineering Management, 60(2), 438–446. https://doi.org/10.1109/TEM.2012.2206392
   Web of Science ®Google Scholar
• Miller, D. (1983). The correlates of entrepreneurship in three types of firms. Management Science, 29(7), 770–791. https://doi.org/10.1287/mnsc.29.7.770
   Web of Science ®Google Scholar
• Mohr, D. C., Boudewyn, A. C., Goodkin, D. E., Bostrom, A., & Epstein, L. (2001). Comparative outcomes for individual cognitive-behavior therapy, supportive-expressive group psychotherapy, and sertraline for the treatment of depression in multiple sclerosis. Journal of Consulting and Clinical Psychology, 69(6), 942. https://psycnet.apa.org/doi/10 .1037/0022-006X.69.6.942
   PubMed Web of Science ®Google Scholar
• Monteiro, A. P., Soares, A. M., & Rua, O. L. (2017). Linking intangible resources and export performance: The role of entrepreneurial orientation and dynamic capabilities. Baltic Journal of Management, 12(3), 329–347. https://doi.org/10.1108/BJM-05-2016-0097
   Web of Science ®Google Scholar
• Nahapiet, J., & Ghoshal, S. (1998). Social capital, intellectual capital, and the organizational advantage. Academy of Management Review, 23(2), 242–266. https://doi.org/10.5465/amr.1998.533225
   Web of Science ®Google Scholar
• Oakey, R. P., & Cooper, S. Y. (1991). The relationship between product technology and innovation performance in high technology small firms. Technovation, 11(2), 79–92. https://doi.org/10.1016/0166-49729190039-7 https://doi.org/10.1016/0166-49729190039-7
   Web of Science ®Google Scholar
• Oghazi, P., & Mostaghel, R. (2018). Circular business model challenges and lessons learned—An industrial perspective. Sustainability, 10(3), 739. https://doi.org/10.3390/su10030739
   Web of Science ®Google Scholar
• Onn, A., & Razak, S. F. (2013). Linking Adaptive Capabilities, Absorptive Capabilities and Innovative Capabilities as Dynamic Capability Construct. Conference: National Simposium of Economics, Business and Accounting. Kajang, Malasia, Universiti Tenaga Nasional. https://www.researchgate.net/publication/298646114_Linking_Adaptive_Capabilities_Absorptive_Capabilities_and_Innovative_Capabilities_as_Dynamic_Capability_Construct
   Google Scholar
• Padilla-Rivera, A., Russo-Garrido, S., & Merveille, N. (2020). Addressing the Social Aspects of a Circular Economy: A Systematic Literature Review. Sustainability, 12(19), 7912. https://doi.org/10.3390/su12197912
   Web of Science ®Google Scholar
• Parida, V., Burström, T., Visnjic, I., & Wincent, J. (2019). Orchestrating industrial ecosystem in circular economy: A two-stage transformation model for large manufacturing companies. Journal of Business Research, 101, 715–725. https://doi.org/10.1016/j.jbusres.2019.01.006
   Web of Science ®Google Scholar
• Pastoriza, D., & Ariño, M. A. (2013). Does the ethical leadership of supervisors generate internal social capital? Journal of Business Ethics, 118(1), 1–12. https://doi.org/10.1007/s10551-012-1536-7
   Web of Science ®Google Scholar
• Paulraj, A. (2011). Understanding the relationships between internal resources and capabilities, sustainable supply management and organizational sustainability. Journal of Supply Chain Management, 47(1), 19–37. https://doi.org/10.1111/j.1745-493X.2010.03212.x
   Web of Science ®Google Scholar
• Piwowar-Sulej, K., Krzywonos, M., & Kwil, I. (2021). Environmental entrepreneurship–Bibliometric and content analysis of the subject literature based on H-Core. Journal of Cleaner Production, 295, 126277. https://doi.org/10.1016/j.jclepro.2021.126277
   Web of Science ®Google Scholar
• Potting, J., Hekkert, M. P., Worrell, E., & Hanemaaijer, A. 2017. Circular economy: Measuring innovation in the product chain. 2544. https://dspace.library.uu.nl/bitstream/handle/1874/358310/Circular.pdf?sequence=3&isAllowed=y
   Google Scholar
• Powell, W. W., & DiMaggio, P. J. (Eds.). (1991). The new institutionalism in organizational analysis. University of Chicago press.
   Google Scholar
• Prieto-Sandoval, V., Jaca, C., & Ormazabal, M. (2018). Towards a consensus on the circular economy. Journal of Cleaner Production, 179, 605–615. https://doi.org/10.1016/j.jclepro.2017.12.224
   Web of Science ®Google Scholar
• Puhakka, V. (2006). Effects of social capital on the opportunity recognition process. Journal of Enterprising Culture, 14(2), 105–124. https://doi.org/10.1142/S0218495806000088
   Google Scholar
• Pullman, M. E., Maloni, M. J., & Carter, C. R. (2009). Food for thought: Social versus environmental sustainability practices and performance outcomes. Journal of Supply Chain Management, 45(4), 38–54. https://doi.org/10.1111/j.1745-493X.2009.03175.x
   Web of Science ®Google Scholar
• Reike, D., Vermeulen, W. J., & Witjes, S. (2018). The circular economy: New or refurbished as CE 3.0?—exploring controversies in the conceptualization of the circular economy through a focus on history and resource value retention options. Resources, Conservation and Recycling, 135, 246–264. https://doi.org/10.1016/j.resconrec.2017.08.027
   Web of Science ®Google Scholar
• Rennings, K. (2000). Redefining innovation—eco-innovation research and the contribution from ecological economics. Ecological Economics, 32(2), 319–332. https://doi.org/10.1016/S0921-80099900112-3
   Web of Science ®Google Scholar
• Retolaza, J. L., Roqueñi, M. R., de Aguirre, L. S. J. R., & Guenaga, J. B. (2014). Cuantificación del valor social: Propuesta metodológica y aplicación al caso de Lantegi Batuak. Zerbitzuan: Gizarte zerbitzuetarako aldizkaria= Revista de Servicios Sociales, 55(55), 17–33. http://dx.doi.org/10.5569/1134-7147.55.02
   Google Scholar
• Reverte, C., Gomez-Melero, E., & Cegarra-Navarro, J. G. (2016). The influence of corporate social responsibility practices on organizational performance: Evidence from Eco-Responsible Spanish firms. Journal of Cleaner Production, 112, 2870–2884. https://doi.org/10.1016/j.jclepro.2015.09.128
   Web of Science ®Google Scholar
• Rizos, V., Behrens, A., Kafyeke, T., Hirschnitz-Garbers, M., & Ioannou, A. (2015). The circular economy: Barriers and opportunities for SMEs. CEPS Working Documents. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2664489
   Google Scholar
• Rodrigo-Alarcón, J., García-Villaverde, P. M., Ruiz-Ortega, M. J., & Parra-Requena, G. (2018). From social capital to entrepreneurial orientation: The mediating role of dynamic capabilities. European Management Journal, 36(2), 195–209. https://doi.org/10.1016/j.emj.2017.02.006
   Web of Science ®Google Scholar
• Rodrigo-Alarcón, J., Parra-Requena, G., & Ruiz-Ortega, M. J. (2020). Cognitive social capital and absorptive capacity as antecedents of entrepreneurial orientation: A configurational approach. Eurasian Business Review, 10(4), 493–517. https://doi.org/10.1007/s40821-020-00169-3
   Web of Science ®Google Scholar
• Ruiz-Ortega, M. J., Parra-Requena, G., & García-Villaverde, P. M. (2021). From entrepreneurial orientation to sustainability orientation: The role of cognitive proximity in companies in tourist destinations. Tourism Management, 84, 104265. https://doi.org/10.1016/j.tourman.2020.104265
   Web of Science ®Google Scholar
• Saarinen, A. (2021). Financial drivers and inhibitors of circular economy business [Doctorate Thesis, Tampere University]. https://cicat2025.turkuamk.fi/uploads/2021/03/fd36fae7-saarinenarttu.pdf
   Google Scholar
• Saeed, A., Jun, Y., Nubuor, S. A., Priyankara, H. P. R., & Jayasuriya, M. P. F. (2018). Institutional pressures, green supply chain management practices on environmental and economic performance: A two theory view. Sustainability, 10(5), 1517. https://doi.org/10.3390/su10051517
   Web of Science ®Google Scholar
• Salvioni, D. M., & Almici, A. (2020). Transitioning toward a circular economy: The impact of stakeholder engagement on sustainability culture. Sustainability, 12(20), 8641. https://doi.org/10.3390/su12208641
   Web of Science ®Google Scholar
• Scarpellini, S., Marín-Vinuesa, L. M., Portillo-Tarragona, P., & Moneva, J. M. (2018). Defining and measuring different dimensions of financial resources for business eco-innovation and the influence of the firms’ capabilities. Journal of Cleaner Production, 204, 258–269. https://doi.org/10.1016/j.jclepro.2018.08.320
   Web of Science ®Google Scholar
• Schuurman, F. J. (2003). Social capital: The politico-emancipatory potential of a disputed concept. Third World Quarterly, 24(6), 991–1010. https://doi.org/10.1080/01436590310001630035
   Web of Science ®Google Scholar
• Seitz, M. A. (2007). A critical assessment of motives for product recovery: The case of engine remanufacturing. Journal of Cleaner Production, 15(11–12), 1147–1157. https://doi.org/10.1016/j.jclepro.2006.05.029
   Web of Science ®Google Scholar
• Selznick, P. (1949). TVA and the grass roots. University of California Press.
   Google Scholar
• Semrau, T., Ambos, T., & Kraus, S. (2016). Entrepreneurial orientation and SME performance across societal cultures: An international study. Journal of Business Research, 69(5), 1928–1932. https://doi.org/10.1016/j.jbusres.2015.10.082
   Web of Science ®Google Scholar
• Shaher, A., & Ali, K. (2020). The effect of entrepreneurial orientation on innovation performance: The mediation role of learning orientation on Kuwait SME. Management Science Letters, 10(16), 3811–3820. http://dx.doi.org/10.5267/j.msl.2020.7.030
   Google Scholar
• Shane, S., & Venkataraman, S. (2000). The promise of entrepreneurship as a field of research. Academy of Management Review, 25(1), 217–226. https://doi.org/10.5465/amr.2000.2791611
   Web of Science ®Google Scholar
• Singh, J., & Ordoñez, I. (2016). Resource recovery from post-consumer waste: Important lessons for the upcoming circular economy. Journal of Cleaner Production, 134, 342–353. https://doi.org/10.1016/j.jclepro.2015.12.020
   Web of Science ®Google Scholar
• Slevin, D. P., & Covin, J. G. (1997). Strategy formation patterns, performance, and the significance of context. Journal of Management, 23(2), 189–209. https://doi.org/10.1016/S0149-20639790043-X
   Web of Science ®Google Scholar
• Smol, M., Kulczycka, J., & Avdiushchenko, A. (2017). Circular economy indicators in relation to eco-innovation in European regions. Clean Technologies and Environmental Policy, 19(3), 669–678. https://doi.org/10.1007/s10098-016-1323-8
   Web of Science ®Google Scholar
• Stumpf, L., Schöggl, J. P., & Baumgartner, R. J. (2021). Climbing up the circularity ladder?–A mixed-methods analysis of circular economy in business practice. Journal of Cleaner Production, 316, 128158. https://doi.org/10.1016/j.jclepro.2021.128158
   Web of Science ®Google Scholar
• Subramaniam, M., & Youndt, M. A. (2005). The influence of intellectual capital on the types of innovative capabilities. Academy of Management Journal, 48(3), 450–463. https://doi.org/10.5465/amj.2005.17407911
   Web of Science ®Google Scholar
• Sung, C. S., & Park, J. Y. (2018). Sustainability orientation and entrepreneurship orientation: Is there a tradeoff relationship between them? Sustainability, 10(2), 379. https://doi.org/10.3390/su10020379
   Web of Science ®Google Scholar
• Teece, D. J., Pisano, G., & Shuen, A. (1997). Dynamic capabilities and strategic management. Strategic Management Journal, 18(7), 509–533. https://doi.org/10.1002/SICI1097-026619970818:7<509::AID-SMJ882>3.0.CO;2-Z
   Web of Science ®Google Scholar
• Tsai, W., & Ghoshal, S. (1998). Social capital and value creation: The role of intrafirm networks. Academy of Management Journal, 41(4), 464–476. https://doi.org/10.5465/257085
   Web of Science ®Google Scholar
• Tura, N., Hanski, J., Ahola, T., Ståhle, M., Piiparinen, S., & Valkokari, P. (2019). Unlocking circular business: A framework of barriers and drivers. Journal of Cleaner Production, 212, 90–98. https://doi.org/10.1016/j.jclepro.2018.11.202
   Web of Science ®Google Scholar
• United Nations. (2020a). Population. United Nations. https://www.un.org/en/global-issues/population
   Google Scholar
• United Nations. (2020b). Take Action for the Sustainable Development Goals. United Nations. https://www.un.org/sustainabledevelopment/sustainable-development-goals/
   Google Scholar
• Urbinati, A., Chiaroni, D., & Chiesa, V. (2017). Towards a new taxonomy of circular economy business models. Journal of Cleaner Production, 168, 487–498. https://doi.org/10.1016/j.jclepro.2017.09.047
   Web of Science ®Google Scholar
• Urbinati, A., Franzò, S., & Chiaroni, D. (2021). Enablers and Barriers for Circular Business Models: An empirical analysis in the Italian automotive industry. Sustainable Production and Consumption, 27, 551–566. https://doi.org/10.1016/j.spc.2021.01.022
   Web of Science ®Google Scholar
• Vilchez, V. F., Darnall, N., & Correa, J. A. A. (2017). Stakeholder influences on the design of firms’ environmental practices. Journal of Cleaner Production, 142, 3370–3381. https://doi.org/10.1016/j.jclepro.2016.10.129
   Web of Science ®Google Scholar
• Wang, C. L., & Ahmed, P. K. (2007). Dynamic capabilities: A review and research agenda. International Journal of Management Reviews, 9(1), 31–51. https://doi.org/10.1111/j.1468-2370.2007.00201.x
   Web of Science ®Google Scholar
• Welbourne, T. M., & Pardo-del-Val, M. (2009). Relational capital: Strategic advantage for small and medium-size enterprises (SMEs) through negotiation and collaboration. Group Decision and Negotiation, 18(5), 483–497. https://doi.org/10.1007/s10726-008-9138-6
   Web of Science ®Google Scholar
• Wong, S. K. S. (2012). The influences of entrepreneurial orientation on product advantage and new product success. Journal of Chinese Entrepreneurship. https://doi.org/10.1108/17561391211262175
   Google Scholar
• Wrålsen, B., Prieto-Sandoval, V., Mejia-Villa, A., O’Born, R., Hellström, M., & Faessler, B. (2021). Circular business models for lithium-ion batteries-Stakeholders, barriers, and drivers. Journal of Cleaner Production, 317, 128393. https://doi.org/10.1016/j.jclepro.2021.128393
   Web of Science ®Google Scholar
• Xie, G. H., Wang, L. P., & Lee, B. F. (2021). Understanding the Impact of Social Capital on Entrepreneurship Performance: The Moderation Effects of Opportunity Recognition and Operational Competency. Frontiers in Psychology, 12, 2026. https://doi.org/10.3389/fpsyg.2021.687205
   Web of Science ®Google Scholar
• Yates, L. S. (2011). Critical consumption: Boycotting and buycotting in Europe. European Soceties, 13(2), 191–217. https://doi.org/10.1080/14616696.2010.514352
   Web of Science ®Google Scholar
• Zaato, S. G., Ismail, M., Uthamaputhran, S., Saufi, R. A., Thoti, K. K., Owusu-Ansah, W., & Owusu, J. (2022). How social capital activates entrepreneurial orientation, access to government support policies, and SMEs performance in an emerging market amidst covid-19. Specialusis Ugdymas, 1(43), 553–574. https://www.sumc.lt/index.php/se/article/view/53/45
   Google Scholar
• Zara, C. (2020). Circular economy and finance: opportunities for the financial services industry. In A. Pettiranoli (Ed.), From the circular economy to the green new deal. Fondazione Giacomo Feltrinelli (pp. 8–21). https://iris.unibocconi.it/retrieve/e31e10d4-60a7-31fb-e053-1705fe0a5b99/Transformative_Economies_-2.pdf
   Google Scholar
• Zheng, W., Yang, B., & McLean, G. N. (2010). Linking organizational culture, structure, strategy, and organizational effectiveness: Mediating role of knowledge management. Journal of Business Research, 63(7), 763–771. https://doi.org/10.1016/j.jbusres.2009.06.005
   Web of Science ®Google Scholar
• Zhu, Q., Sarkis, J., & Lai, K. H. (2007). Green supply chain management: Pressures, practices and performance within the Chinese automobile industry. Journal of Cleaner Production, 15(11–12), 1041–1052. https://doi.org/10.1016/j.jclepro.2006.05.021
   Web of Science ®Google Scholar