From Regeneration to Advantage: How Leadership Transforms Environmental Accounting Into Green Competitiveness
基于越南353家制造企业数据，研究发现环境会计实践通过提升循环经济绩效来增强绿色竞争力，而绿色转型领导力能强化这一过程。
ABSTRACT Environmental accounting practices (ENAP), circular economy performance (CIEP), and green competitive advantage are critical issues in the context of climate change and sustainable development. However, empirical evidence on how ENAP drives CIEP and translates into green competitiveness remains limited, and the moderating role of green transformational leadership on the effect of ENAP on CIEP is largely unexplored. Drawing on dynamic capability theory, this study develops a moderated mediation model linking ENAP, CIEP, green competitiveness, and green transformational leadership. Using survey data from 353 Vietnamese manufacturing firms, the results reveal the following: (1) ENAP significantly enhances CIEP; (2) CIEP strengthens green competitiveness; (3) CIEP mediates the relationship between ENAP and green competitiveness; and (4) green transformational leadership amplifies the positive effect of ENAP on CIEP. These findings position ENAP as a strategic dynamic capability, with CIEP as a subsequent capability that channels ENAP into competitive advantage. They also highlight the inspirational role of green transformational leadership in maximizing ENAP effectiveness. The study advances theory by explicating the capability chain from accounting and the circular economy domain to competitiveness. Practically, it underscores the need for policymakers and managers to institutionalize ENAP and leadership initiatives to accelerate green competitiveness in emerging economies.