Abstract
Environmental concerns, as well as consumers’ awareness of buying green or environmentally-friendly products, has a positive impact on the emergence of the green market. The emerging green market brings many opportunities in different fields. Today, the issue of green entrepreneurship and sustainable development aim at producing environmentally-friendly products. This is indeed welcomed in the emerging green market. The publicly available research studies that investigate how green entrepreneurship, sustainable development, and emerging green markets are interconnected with each other are limited. More specifically, the impact of the green market on green entrepreneurship and sustainable development has not yet been studied completely. Therefore, a comprehensive research model has been developed in this paper based on the literature. The developed model is then tested using IBM SPSS Statistics for Windows, Version 19. IBM Corp.: Armonk, NY, USA and Smart-PLS Version 2 based on the data collected via a survey from a sample of knowledge-based companies in the Science & Technology Park of Tehran University. The results of the research indicate a positive and significant effect of the emergence of the green market on green entrepreneurship and sustainable development in knowledge-based companies. Moreover, the impact of the green entrepreneurship structure on sustainable development has been studied and the result presents that green entrepreneurship has a positive and significant effect on sustainable development.
Highlights
The environment has become a vital and crucial issue that affects all aspects of human life, leading to the emergence of the green market concept [1]
Issues related to environmental protection have become one of the first priorities in developing countries
Construct validity is verified by two criteria: (i) the measures of a construct should have the highest factor load on their construct [34] and (ii) the square average variance extraction (AVE) of a construct should be more than the correlation of that construct with other constructs, indicating that the correlation of that construct with its markers is more than its correlation with other constructs [35]
Summary
The environment has become a vital and crucial issue that affects all aspects of human life, leading to the emergence of the green market concept [1]. Issues related to environmental protection have become one of the first priorities in developing countries. In this regard, the need to produce ecological and environmentally-friendly products has forced companies to focus more on environmental issues in their businesses. The emergence of the green market has created a competitive advantage between responsible and non-responsible companies, in a way that has urged them to focus more on producing clean products. It seems that realizing this requires the emergence of entrepreneurs who discover and exploit the opportunities
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