“…In response to Porter's hypothesis, Butt et al (2022) argued that compliance with environmental regulations will always be costly driving firms to face a trade‐off between social benefits and private costs. Impacted by the above writing, the framework of the business, spoken to along these lines, is viewed as controlled by four key factors: The business climate (Farashahi & Hafsi, 2009; Lam & Yeung, 2010), the size of the business (Baker & Cullen, 1993; Chu, 2011; Bai et al, 2022; Liu et al 2022; Jun et al, 2021; Wang et al, 2022; Josefy et al, 2015; Schlevogt, 2001), technology (Keller, 1994; Smith & Cordina, 2015; Yang et al, 2012), and strategy (Colpan, 2008; Hambrick & Lei, 1985; Lu et al, 2013).…”