从价值网络视角切入，建立绿色技术创新影响企业可持续发展绩效的研究模型，通过对367家重污染行业企业的实证分析发现：①绿色技术创新对企业可持续发展绩效具有显著正向影响；②价值网络共益性结构洞、资源异质性和资源耦合性在绿色技术创新与可持续发展绩效之间均发挥正向调节作用；③在共益性结构洞影响下，资源异质性和资源耦合性会强化绿色技术创新与可持续发展绩效之间的关系。研究结果从价值网络视角揭示绿色技术创新影响企业可持续发展绩效的作用机理，为我国企业尤其是重污染企业开展绿色技术创新、提高可持续发展绩效提供管理启示。

In the context of escalating environmental challenges and the global imperative for sustainable development, green technological innovation (GTI) has emerged as a strategic pathway for firms to reconcile economic growth with ecological responsibility. While existing studies acknowledge the potential of GTI in fostering environmental and economic outcomes, critical gaps persist in understanding how GTI translates into firm-level sustainable development performance (SDP), particularly under the moderating effects of value network dynamics. This study addresses two pivotal questions: (1) Does GTI systematically enhance SDP across firms, especially in heavily polluting industries? (2) How do value network attributes—specifically, resource heterogeneity, resource coupling, and total-benefit structural holes—amplify or constrain this relationship? By integrating value network theory with innovation and sustainability literature, this study provides a nuanced framework to decode the mechanisms through which GTI drives SDP, offering actionable insights for firms navigating the dual pressures of regulatory compliance and market competitiveness.
The study adopts a multi-method approach, combining theoretical modeling with empirical validation. A conceptual framework is developed to delineate the direct effect of GTI on SDP and the moderating roles of three value network dimensions: total-benefit structural holes (network positions balancing information brokerage and mutual benefit), resource heterogeneity (diversity of complementary resources), and resource coupling (synergistic integration of resources). Data collected from 367 Chinese firms in heavily polluting industries (e.g., steel, chemicals, energy) is selected due to their high environmental footprint and regulatory exposure. Firm-level GTI activities are measured using patent data (IPC green technology classifications), R&D expenditure ratios, and internal environmental management audits. SDP is operationalized through a composite index encompassing environmental performance (e.g., emission reduction rates), economic performance (e.g., green product revenue share), and social performance (e.g., stakeholder satisfaction scores). Value network variables are quantified via social network analysis (SNA) of inter-firm collaboration networks, resource inventories, and survey-based assessments of resource integration efficiency. Hierarchical regression analysis and moderated mediation models are employed to test hypotheses, with robustness checks addressing endogeneity and industry heterogeneity.
Firms actively implementing GTI exhibit a 23.7% higher SDP index compared to non-adopters, confirming that GTI serves as a critical driver of sustainability outcomes. This effect is particularly pronounced in industries with stringent environmental regulations. Firms occupying structural holes that prioritize mutual benefit (vs. mere information control) amplify the GTI-SDP link by 18.2%. Such positions enable firms to reconcile conflicting stakeholder interests (e.g., balancing cost-intensive green R&D with shareholder returns). A one-standard-deviation increase in resource diversity (e.g., combining clean energy patents with circular economy expertise) enhances GTI’s impact on SDP by 14.5%, underscoring the combinatorial advantage of heterogeneous knowledge assets. High coupling efficiency (measured as resource integration speed/quality) boosts GTI’s SDP returns by 21.3%, indicating that systemic alignment of technical, financial, and human resources is pivotal for scaling green innovations. Resource heterogeneity and coupling exert stronger effects when mediated by total-benefit structural holes. For instance, firms with both high resource diversity and central network positions achieve 31% faster green product commercialization cycles.
This study extends value network theory by introducing total-benefit structural holes as a novel construct. It bridges the focus on information control in structural hole theory with the emphasis on value co-creation in stakeholder theory. A tripartite moderating framework (structure-resource-synergy) is established to elucidate how network embeddedness and resource orchestration jointly shape GTI outcomes, thereby addressing prior oversights in the innovation literature. The study highlights the need for regionally differentiated GTI incentives. For example, it suggests fostering structural hole brokers in underperforming networks (e.g., Western China) through consortium-building initiatives. It also provides a roadmap for leveraging value networks, such as prioritizing “bridging” partnerships with ESG-aligned stakeholders. This approach enables firms to access heterogeneous resources while mitigating collaboration risks. Additionally, the study identifies SDP-enabling metrics (e.g., resource coupling efficiency scores) that can be used for ESG portfolio optimization.
This study demystifies the “black box” of GTI-driven sustainability transitions, demonstrating that value networks are not mere backdrops but active enablers of green innovation efficacy. For firms in polluting industries, strategic navigation of network structures and resource flows,rather than isolated technological prowess,emerges as the linchpin of sustainable competitiveness. Future studies could explore temporal dynamics, such as how digital platforms reshape value networks in accelerating GTI diffusion.