Implications of circular economy practices for firms in the integrated waste sector
IntroductionThis study examined the effects of circular economy practices on the integrated waste management industry, drawing on the stakeholder theory. This study examined how the performance of Ghanaian waste management companies is affected by circular economy strategies, particularly upcycling...
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Frontiers Media S.A.
2025-01-01
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| Series: | Frontiers in Sustainability |
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| Online Access: | https://www.frontiersin.org/articles/10.3389/frsus.2024.1455335/full |
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| author | Daniel Agyapong Gloria K. Q. Agyapong Daniel Ofori Osman Light Stephanie Efua Frimpong |
| author_facet | Daniel Agyapong Gloria K. Q. Agyapong Daniel Ofori Osman Light Stephanie Efua Frimpong |
| author_sort | Daniel Agyapong |
| collection | DOAJ |
| description | IntroductionThis study examined the effects of circular economy practices on the integrated waste management industry, drawing on the stakeholder theory. This study examined how the performance of Ghanaian waste management companies is affected by circular economy strategies, particularly upcycling and was recovery.MethodsAbout 7,190 firms registered with the Environmental Service Providers Association (ESPA) formed the population of the study, out of which the sample yielded 524 valid responses, which was analysed using PLS-SEM and Partial Correlation Analysis. PLS was adopted because it integrates factor and route analyses into significantly more rigorous statistical processes. In addition, the Partial Correlation network structure was adopted to explain how the nodes or variables are related to one another.ResultsThe results demonstrate that upcycling has a favorable and considerable impact on the economic performance (β = 0.475, t = 4.495, p = 0.000), social performance (β = 0.403, t = 3.132, p = 0.002), and corporate governance performance (β = 0.455, t = 3.670, p = 0.000) of the firms. Furthermore, waste recovery improved the performance of waste management companies in terms of performance, specifically economic performance (β = 0.333, t = 3.183, p = 0.001), environmental performance (β = 0.583, t = 4.641, p = 0.000), social performance (β = 0.402, t = 3.157, p = 0.000), and corporate governance performance (β = 0.250, t = 2. 024, p = 0.048) indices.DiscussionFinally, circular economy practices have a substantial impact on firms’ financial stability and investment readiness. It was concluded that waste management companies that excel in undertaking circular economy activities such as remanufacturing, trash recycling, and refurbishing are more likely to draw clients who want green activities in addition to their current needs. Additionally, these actions increase efficiency, which lowers operational expenses and improves governance-related concerns, including management training on these procedures and implementation of policies in compliance with the law. |
| format | Article |
| id | doaj-art-829c7e359ac74a3c9ccc0b1a794c20ba |
| institution | Kabale University |
| issn | 2673-4524 |
| language | English |
| publishDate | 2025-01-01 |
| publisher | Frontiers Media S.A. |
| record_format | Article |
| series | Frontiers in Sustainability |
| spelling | doaj-art-829c7e359ac74a3c9ccc0b1a794c20ba2025-01-17T15:46:41ZengFrontiers Media S.A.Frontiers in Sustainability2673-45242025-01-01510.3389/frsus.2024.14553351455335Implications of circular economy practices for firms in the integrated waste sectorDaniel Agyapong0Gloria K. Q. Agyapong1Daniel Ofori2Osman Light3Stephanie Efua Frimpong4Wits Business School, University of the Witwatersrand, Johannesburg, South AfricaDepartment of Marketing and Supply Chain Management, University of Cape Coast, Cape Coast, GhanaDepartment of Marketing and Supply Chain Management, University of Cape Coast, Cape Coast, GhanaDepartment of Marketing and Supply Chain Management, University of Cape Coast, Cape Coast, GhanaDepartment of Finance, University of Cape Coast, Cape Coast, GhanaIntroductionThis study examined the effects of circular economy practices on the integrated waste management industry, drawing on the stakeholder theory. This study examined how the performance of Ghanaian waste management companies is affected by circular economy strategies, particularly upcycling and was recovery.MethodsAbout 7,190 firms registered with the Environmental Service Providers Association (ESPA) formed the population of the study, out of which the sample yielded 524 valid responses, which was analysed using PLS-SEM and Partial Correlation Analysis. PLS was adopted because it integrates factor and route analyses into significantly more rigorous statistical processes. In addition, the Partial Correlation network structure was adopted to explain how the nodes or variables are related to one another.ResultsThe results demonstrate that upcycling has a favorable and considerable impact on the economic performance (β = 0.475, t = 4.495, p = 0.000), social performance (β = 0.403, t = 3.132, p = 0.002), and corporate governance performance (β = 0.455, t = 3.670, p = 0.000) of the firms. Furthermore, waste recovery improved the performance of waste management companies in terms of performance, specifically economic performance (β = 0.333, t = 3.183, p = 0.001), environmental performance (β = 0.583, t = 4.641, p = 0.000), social performance (β = 0.402, t = 3.157, p = 0.000), and corporate governance performance (β = 0.250, t = 2. 024, p = 0.048) indices.DiscussionFinally, circular economy practices have a substantial impact on firms’ financial stability and investment readiness. It was concluded that waste management companies that excel in undertaking circular economy activities such as remanufacturing, trash recycling, and refurbishing are more likely to draw clients who want green activities in addition to their current needs. Additionally, these actions increase efficiency, which lowers operational expenses and improves governance-related concerns, including management training on these procedures and implementation of policies in compliance with the law.https://www.frontiersin.org/articles/10.3389/frsus.2024.1455335/fullcircular economywaste managementupcyclingrecoverysustainable performance |
| spellingShingle | Daniel Agyapong Gloria K. Q. Agyapong Daniel Ofori Osman Light Stephanie Efua Frimpong Implications of circular economy practices for firms in the integrated waste sector Frontiers in Sustainability circular economy waste management upcycling recovery sustainable performance |
| title | Implications of circular economy practices for firms in the integrated waste sector |
| title_full | Implications of circular economy practices for firms in the integrated waste sector |
| title_fullStr | Implications of circular economy practices for firms in the integrated waste sector |
| title_full_unstemmed | Implications of circular economy practices for firms in the integrated waste sector |
| title_short | Implications of circular economy practices for firms in the integrated waste sector |
| title_sort | implications of circular economy practices for firms in the integrated waste sector |
| topic | circular economy waste management upcycling recovery sustainable performance |
| url | https://www.frontiersin.org/articles/10.3389/frsus.2024.1455335/full |
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