This study investigated the effect of low‐carbon practices on business sustainability, delved into the underlying mechanisms that exist between them, and designed the recipes tailored toward promoting business sustainability in both high and low‐level. Based on a sample of 681 firms with 1376 observations from 2020 to 2022 that disclose the low‐carbon practices in MD&A, we employed a quasi‐replication method comprising regression analysis and fuzzy‐set qualitative comparative analysis (fsQCA) to test hypotheses and explore pathways. Regression analysis results demonstrate that low‐carbon practices significantly promote business sustainability and underscore the mediation effect of technological innovation capacity, alongside the moderating influence of R&D funding and government incentives and penalties. Additionally, fsQCA results reveal a pronounced synergistic impact emanating from multiple antecedent conditions, rather than a singular factor, in driving both high‐ and low‐level business sustainability. The findings on sustainable business operations management are invaluable for decision‐makers seeking to establish a low‐carbon strategic initiative that adeptly addresses the diverse opportunities and complexities posed by global environmental concerns.

中文翻译：

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推动企业可持续发展：来自低碳实践的经验证据


本研究调查了低碳实践对企业可持续发展的影响，深入研究了它们之间存在的潜在机制，并设计了旨在促进高水平和低水平企业可持续发展的配方。基于 681 家公司的样本，2020 年至 2022 年披露了 MD&A 中的低碳实践的 1376 个观察结果，我们采用了包括回归分析和模糊集定性比较分析（fsQCA）的准复制方法来检验假设并探索路径。回归分析结果表明，低碳实践显着促进企业可持续发展，并强调技术创新能力的中介作用，以及研发经费和政府激励和处罚的调节作用。此外，fsQCA 结果显示，在推动高水平和低水平业务可持续性方面，多种先决条件（而不是单一因素）产生了明显的协同影响。关于可持续业务运营管理的研究结果对于寻求建立低碳战略举措以巧妙应对全球环境问题带来的多样化机遇和复杂性的决策者来说非常宝贵。