This study examines how circular business models (CBMs) affect firm performance via the mediating role of green altruism (GA). Drawing on the resource-based view and stakeholder theory, data from 500 managerial respondents in India were analyzed using a dual-method approach that integrates partial least squares structural equation modeling (PLS-SEM) and fuzzy-set qualitative comparative analysis (fsQCA). The results indicate that green altruism mediates the relationship between circular business models and firm performance, emphasizing its role as a behavioral mechanism. Among the CBM dimensions, circular supply chain practices and waste reduction emerged as the strongest formative drivers. The fsQCA revealed five equifinal pathways to high performance, with GA present in four, confirming its configurational centrality. The study contributes by integrating behavioral and technical dimensions of circularity, offering actionable insights for firms striving for sustainable competitive advantage.
Agrawal et al. (Sun,) studied this question.
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