What Drives Market‐Oriented Trading of Resource and Environmental Elements: An Analysis Based on the Technology–Organization–Environment Framework

ABSTRACT The market‐oriented trading of resource and environmental elements is a key mechanism for optimizing the efficiency of environmental rights allocation. This study, based on the technology–organization–environment (TOE) framework, selects 30 resource and environmental element trading platforms in China as a research sample. Using the fuzzy‐set qualitative comparative analysis method, we explore the effective path combination driving resource and environmental element trading. The research results reveal five paths that can achieve high‐level resource and environmental element trading, which can be classified into three types: technology–organization, organization–environment, and rule‐based. Organizational regulatory factors play an indispensable role, regardless of path type. The conclusion of this study provides a useful reference for incentivizing resource and environmental elements transactions, helping improve the market operation efficiency of environmental rights and interests.