The mechanism of constructing marine ranching industrial ecosystem based on grounded theory: A case study of Yantai, China

Marine ranching industrial ecosystem is an innovative practice for high-quality construction of marine ranching. Exploring its construction mechanism can provide insight into the sustainable development path of marine ranching, but existing studies have not yet explored it in depth. This study uses the grounded theory research method to investigate the construction mechanism of the marine ranching industrial ecosystem based on the value creation perspective. First, the study found that building the marine ranching industrial ecosystem comprised three stages: industrial selection, industrial integration, and industrial ecosystem construction. In each stage, marine ranching enterprises put forward practical value propositions around the needs of each stakeholder, actively promote value creation, and realize value sharing with stakeholders. Second, upgrading the value proposition is the root driver for the dynamic evolution of the three stages of industrial selection, industrial integration, and industrial ecosystem construction. Third, the marine ranching industrial ecosystem can combine the resources of different stakeholders, coordinate the power of all parties, and support the development of the modern marine fisheries industrial system. Fourth, regarding marine ranching enterprises, taking social responsibility is not at the expense of economic benefits. The efficient operation of the marine ranching industrial ecosystem can balance economic, social, and environmental benefits. This study provides practical ideas for the construction and efficiency improvement of the marine ranching industrial ecosystem.