Retracted: Industry 4.0 and circular economy practices: A new era business strategies for environmental sustainability

Abstract

Amid rising environmental concerns, Industry 4.0 and blockchain technology (BCT) are transforming circular economy (CE) practices and prevailing business models. Recognize the same; this study examines the role of blockchain technology in circular CE practices and their impact on eco-environmental performance, which influences organizational performance. The study collects data from 404 enterprises located in Chinese and Pakistani territories, involved in cross-border supply chain operations. Both countries' sample has great relevance due to the China Pakistan Economic Corridor (CPEC), which possesses several positive fallouts in terms of technology spillovers across firms. Using the partial least squares structural equation modeling (PLS-SEM) modeling framework, this study provides three key findings. First, BCT significantly improves the circular economy practices (circular procurement, circular design, recycling, and remanufacturing). Second, CE practices help improve firms'environmental performance and stimulate their financial performance. Third, higher eco-environmental performance significantly boosts organizational performance. This study sets out the foundations for participating countries/firms that simultaneously achieve financial and sustainable goals by integrating blockchain technology in circular economy practices.

Antecedents for blockchain technology-enabled sustainable agriculture supply chain

“…Some authors have studied the impact of BLCT on SCP, firm performance, financial performance, or sustainable performance by using partial least squares (PLS-SEM) or SEM and found a significant positive impact (e.g., Paul et al, 2021 ; Masudin et al, 2021 ; Khan et al, 2021a , 2021b ; Wamba et al, 2020 ; Kim & Shin, 2019 ; Sheel & Nath, 2019 ).…”

“…Empirical studies based on SEM are performed in agriculture, manufacturing, service, multisector, warehousing, and logistics supply chains. More researchers have carried out their studies on multisector (e.g., Khan et al, 2021a , 2021b ; Li & Fang, 2021 ; Wamba & Queiroz, 2020 ; Queiroz et al, 2021 ; Kim & Shin, 2019 ), and few have carried out in agriculture sector (Paul et al, 2021 ; Masudin et al, 2021 ). Authors have used PLS-SEM, SEM, and PLS-ANN methodology in their research in available literature related to empirical studies of BLCT adoption in SC.…”

Does the interaction between the knowledge management process and sustainable development practices boost corporate green innovation?

“…However, green and SDPs are still in their infancy in developing countries (Abdul-Rashid et al, 2017;Gupta & Barua, 2018;Khan et al, 2021). There is a dire need for a comprehensive study that focuses on implementing SDPs for CGI in emerging nations.…”

The Impact of IR 4.0 on Circular Economy and Operational Performance to Spur Financial Performance: A Game Changer Strategy

“…Industry 4.0 and C.E. practices are most trending in academic research in the context of a firm's sustainability and operational productivity [3]. The IR 4.0, with the help of sensors throughout the system, gathers accurate real-time data with traceability to facilitate C.E.…”