Effect of green value capture on the manufacturing firm performance considering green dynamic capabilities and profitability models

Ensuring and improving the green value acquisition of manufacturing enterprises is one of the critical issues to be solved for manufacturing enterprises to achieve green value and high-quality development. Based on the theory of enterprise value acquisition and dynamic capability theory, we explain the "black box" of the relationship between green value creation and enterprise performance of manufacturing enterprises. The logical thread of "green value creation—profit model—enterprise performance" is constructed, and a green value acquisition mechanism model is proposed. Based on 263 questionnaires from Chinese manufacturing enterprises, the model is empirically tested using multiple regression analysis. The results show that green value creation has a positive impact on corporate performance, while the profit model plays a mediating role between green value creation and corporate performance. Green dynamic capability plays a positive moderating role between green value creation and corporate performance, while green active ability plays a positive moderating role between value creation and profit model.