“…The ecological modernization theory emphasizes the need for firms to recognize ecological issues as one approach for promoting competitive advantage (Huang & Li, ). Therefore, focusing on the perception of environmental factors, a firm's green image is defined as a set of perceptions regarding corporate environmental commitments, environmental awareness, and environmental performance and achievements based on the thoughts and feelings of consumers (Wang, Wang, Xue, Wang, & Li, , p. 428). Generally, a firm's green image generally involves the environmental or green‐related features that the firm's stakeholders perceive (Amores‐Salvadó, Martín‐de Castro, & Navas‐López, ).…”