Business and Governance Strategies for Circular Economy Valorization of Construction Timber: A Systematic Review
系统综述建筑木材循环利用的商业与治理策略，基于动态能力理论构建多层级模型，揭示企业感知、把握和重构能力如何受网络治理和制度压力影响，为行业从业者和政策制定者提供战略指导。
ABSTRACT The valorization of construction and demolition timber is essential to advancing circular economy objectives but remains constrained by fragmented organizational, network, and institutional practices. For firms in the construction sector, this represents a critical strategic adaptation challenge. This study synthesizes evidence from academic and industry sources to construct a multi‐level model anchored in dynamic capabilities theory, explaining how firm‐level sensing, seizing, and reconfiguring capabilities are enabled or constrained by network governance and institutional pressures. The model integrates ecosystem orchestration, institutional mechanisms, and transaction‐cost reasoning to explain how firm routines, network coordination, and policy environments interact through enablers such as digital infrastructure, market maturity, and stakeholder salience. Findings reveal that while firms increasingly demonstrate sensing and seizing capabilities, strategic reconfiguration and coordinated governance remain weak. Digital transparency and transaction‐cost reduction emerge as critical mediators linking coordination, legitimacy, and environmental performance. The study extends dynamic capabilities theory to circular economy transitions in project‐based industries and offers strategic guidance for aligning regulatory, digital, and market mechanisms to scale timber reuse.