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The Effect of Phases of the Adoption of the Circular Economy on Firm Performance: Evidence from 28 EU Countries
[journal article]
Abstract Although a substantial body of literature has analysed the potential benefits of the circular economy, empirical evidence on the relationship between circular economy-related activities and firm performance is scarce. Rather than analysing only the effect of the circular economy on firm performance,... view more
Although a substantial body of literature has analysed the potential benefits of the circular economy, empirical evidence on the relationship between circular economy-related activities and firm performance is scarce. Rather than analysing only the effect of the circular economy on firm performance, we empirically examine the effects of the different phases of the adoption process of the circular economy on firm performance. Therefore, in this paper, a multiphase framework of circular economy adoption is developed. Employing a propensity-score-matching model on the sample of more than 4000 European SMEs, we show that the adoption of circular economy activities improves firm performance as measured by productivity. In addition, our findings reveal that the impact of circular economy activities on firm performance is dependent on the different phases of the adoption process. Taken together, this study enriches current research on the circular economy by contributing to a more nuanced understanding on the relationship between the different phases of the adoption process and firm performance.... view less
Keywords
EU; productivity; enterprise; recycling management; achievement
Classification
National Economy
Special areas of Departmental Policy
Free Keywords
ZA6779 v1.0.0: Flash Eurobarometer 441 (European SMEs and the Circular Economy); firm performance; multiphase adoption approach
Document language
English
Publication Year
2020
Page/Pages
p. 1-12
Journal
Sustainability, 12 (2020) 6
DOI
https://doi.org/10.3390/su12062557
ISSN
2071-1050
Status
Published Version; peer reviewed