Green Hunter or Green Detractor? Strategic Orientations and Green Revenues

Abstract We bridge a research gap concerning whether varying strategic orientations can be aligned with the transition to greener business practices. Drawing on resource‐based theory and stakeholder theory, we investigate how growth‐ and profit‐oriented strategic orientations shape firms’ capacity to generate green revenues that integrate economic objectives with environmental responsibility. Using a panel dataset of all Chinese listed firms, we find that growth‐oriented firms are more likely to generate green revenues, whereas profit‐oriented firms are less inclined to do so, and that green innovation investment is an underlying mechanism. Our study advances sustainability research by demonstrating that distinct resource configurations associated with different strategic orientations shape firms’ adaptive capabilities to align economic value creation with responsiveness to stakeholder‐driven environmental pressures.