The Impact of Green Entrepreneurial Orientation on the Business Performance of New Ventures

With the rapid development of the economy, new ventures have been continuously established and grown, which has exacerbated the problems of ecological deterioration and resource shortage.As a core framework integrating environmental strategies and innovation capabilities, green entrepreneurial orientation (GEO) has become the key for enterprises to achieve sustainable development (Zhang & Li 2021).However, in the current society with rapid economic development, the implementation of GEO is faced with challenges such as insufficient institutional incentives and weak organizational learning capabilities.In addition, existing studies lack a systematic discussion on the driving factors of GEO and its relationship with business performance (BP).Therefore, this study aims to explore the impacts of institutional pressure (IP), competitive intensity (CI), green absorption capacity (GAC), business model innovation (BMI) and managers' environmental cognition (MEC) on green entrepreneurial orientation (GEO), and to test the mediating role of green entrepreneurial orientation (GEO) in the process through which its driving factors affect business performance (BP).Based on multiple theoretical frameworks including the absorptive capacity theory, the triple bottom line theory and the natural resource-based view, this study designed a structured questionnaire, and adopted SPSS and AMOS software to conduct the analysis and test of the covariance-based structural equation model (CB-SEM) (Zhu & Qi 2015).