The Role of Green Finance and Government Support in Enhancing Sustainable Performance: The Mediating Effects of Green Innovation and Digital Transformation

Luan The Vuong (), Huan Tuong Vo (), Thao Thuy Le Vy and Zafar U. Ahmed
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Luan The Vuong: International University, Vietnam National University, Center for Public Administration
Huan Tuong Vo: International University, Vietnam National University, Department of Management, School of Business
Thao Thuy Le Vy: International University, Vietnam National University, Department of Economics, Finance and Accounting, School of Economics, Finance and Accounting
Zafar U. Ahmed: Professor of Marketing and International Business, President and CEO Academy for Global Business Advancement Washington DC

A chapter in Vietnamese Business and Sustainable Development in a Globalized and Digitalized Era, 2026, pp 505-530 from Springer

Abstract: Abstract This research explores the impact of green finance and government support on sustainable performance. The study also focuses on the mediating role of green innovation in these relationships, while examining the impact of digital transformation on sustainable performance and the role of government support in driving digital transformation. A questionnaire was used as part of a quantitative method to collect primary data from Vietnam Airlines Corporation. Partial least squares structural equation modelling was employed to analyse a dataset consisting of 268 responses and to test the research hypotheses. The findings show that green finance positively impacts sustainable performance and green innovation, and government support positively affects sustainable performance, green innovation, and digital transformation. Moreover, a significant positive correlation between green innovation and sustainable performance was identified, and green innovation was found to significantly enhance the relationships between green finance and sustainable performance, and between government support and sustainable performance. This study contributes to the literature by both exploring the interactions between these relationships in terms of the aviation industry and offering useful information for Vietnamese businesses to improve sustainable performance through the application of green finance, government support, green innovation, and digital transformation.

Keywords: Sustainable performance; green finance; green innovation; Government support; Digital transformation (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-032-24745-2_26

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DOI: 10.1007/978-3-032-24745-2_26

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