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Abstract It is a crucial issue for enterprises to resolve environmental protection‐related institutional pressure along with the implementation of strict environmental policies and the enhancement of public environmental awareness. Thus, in this study, we surveyed 312 firms in the Yangtze River Delta of China to investigate the relationship among institutional pressure, green value co‐creation, and firm performance by applying a moderated mediation model. Results indicate that institutional pressure positively affects both green value co‐creation and firm performance, whereas green value co‐creation also has a positive effect on firm performance. Furthermore, green value co‐creation mediates the relationship between institutional pressure and firm performance. However, organizational inertia moderates the mediating effect of green value co‐creation on the correlation between institutional pressure and firm performance. These findings enhance our understanding of the relationship among institutional pressure, green value co‐creation, and firm performance, as well as providing implications for further research and practice.
Tian et al. (Sat,) studied this question.