Impact of green innovation on environmental performance and financial performance

Nguyen Minh Ha (), Pham Anh Nguyen, Nguyen Vinh Luan and Nguyen Minh Tam
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Nguyen Minh Ha: Ho Chi Minh City Open University
Pham Anh Nguyen: Ho Chi Minh City Open University
Nguyen Vinh Luan: Ho Chi Minh City Open University
Nguyen Minh Tam: Duc Hoa District People’s Committee
Authors registered in the RePEc Author Service: Nguyen Minh Ha

Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, 2024, vol. 26, issue 7, No 29, 17083-17104

Abstract: Abstract In today’s world, businesses and organizations should behave appropriately for the environment in order to make a contribution to welfare benefits while also gaining business opportunities and economic development. Green practice’s adoption could assist businesses to start saving mineral wealth, and power, avoid environmental damage and even result in the long development of businesses. This study examined the correlation between external environmental factors and green product innovation, as well as the impact of green product innovation on the environmental and financial performance of 400 manufacturing SMEs in Vietnam's primary industrial units. Customer pressure, government pressure, government support, and market changes all had a beneficial effect on green product innovation, according to the findings. Furthermore, this study found a strong positive relationship between green product innovation and environmental and financial performance. Based on the research findings of this research, SME administrators can effectively adapt their business strategies to attain greater financial results and a comparative position in the market while utilizing green initiatives to grow their businesses and preserve the natural environment in a sustainable manner.

Keywords: Governmental pressure; Market changes; Government support; Customer pressure Environmental performance; Green innovation; SMEs; Vietnam (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s10668-023-03328-4

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