Breaking Through Path Dependence in Corporate Green Transformation: A Case Study From China's Expressways

ABSTRACT In the context of stringent global environmental governance and the transformation of energy structures, green innovation within highway enterprises has emerged as a crucial practical consideration for achieving sustainable development in the infrastructure sector. This study addresses the core question of whether there are new pathways for the green transformation of Chinese highway enterprises. By integrating the resource‐based view and dynamic capabilities theory, we construct a configurational explanatory framework for the mechanisms driving green innovation. Utilizing multi‐source data from 20 publicly listed highway enterprises in China, we employ fuzzy‐set qualitative comparative analysis (fsQCA) to systematically deconstruct the synergistic effects of variables such as environmental complexity, absorptive capacity (ABC), innovative capability (INC), adaptive capacity (ADC) and the rate of green strategic transformation. We identify four pathways for highway green innovation performance: the green development change‐seeking type (policy‐led), the green blind change‐seeking type (technology trial‐and‐error), the green stable change‐seeking type (resource reconstruction) and the green passive change‐seeking type (compliance‐driven). Empirical evidence indicates that enterprises must possess dual support from INC and ABC (INC > ABC > ADC) to surpass the threshold of green transformation and deviate from existing pathways. Conversely, low‐performance configurations exhibit a dual deficiency in ‘motivation‐capability’. The study further reveals the unique ‘policy‐technology‐resource’ dynamic adaptation mechanism inherent in the infrastructure industry, confirming that the effectiveness of green innovation relies on the synergy of multiple factors rather than a singular capability advantage. Theoretically, this research bridges the theoretical gap between traditional dynamic capabilities theory and the study of green transformation in capital‐intensive industries. Practically, it provides a decision‐making basis for government departments to formulate differentiated industrial policies and for enterprises to select transformation pathways.