| Title |
The influence of financial and non-financial factors on the adopting intentions of businesses towards circular business models: Evidence from Vietnam |
| ID_Doc |
8544 |
| Authors |
Tran, T; Nguyen-Thi-Phuong, A |
| Title |
The influence of financial and non-financial factors on the adopting intentions of businesses towards circular business models: Evidence from Vietnam |
| Year |
2024 |
| Published |
|
| DOI |
10.1002/csr.2878 |
| Abstract |
This study investigates the factors influencing intentions to adopt circular business models (CBMs) among businesses in Vietnam, a manufacturing hub in the region. To conduct the investigation, we developed a conceptual framework based on the behavioral theory of the firm and the resource-based view, categorizing factors into two dimensions: financial and non-financial. Through empirical analysis involving a survey of 291 businesses and employing partial least squares structural equation modeling (PLS-SEM), we found that financial factors, including capital availability, expected economic benefits, and cost management competence, exert a stronger influence on the adoption of CBMs compared to non-financial factors, such as stakeholder pressure, technology competence, and innovation competence. Furthermore, while several businesses are actively engaging in activities related to CBMs, managerial commitment towards full CBM adoption remains a prospective goal rather than an immediately actionable present reality. This study contributes in both theoretical and practical terms by addressing a critical research gap and quantifying the impact of financial and non-financial factors on CBM adoption. Our findings offer valuable insights for businesses and policymakers, facilitating the promotion of circular economy and sustainable development. |
| Author Keywords |
adopting intentions; behavioral theory of firm; circular business model; PLS-SEM; resource-based view theory; Vietnam |
| Index Keywords |
Index Keywords |
| Document Type |
Other |
| Open Access |
Open Access |
| Source |
Social Science Citation Index (SSCI) |
| EID |
WOS:001260056300001 |
| WoS Category |
Business; Environmental Studies; Management |
| Research Area |
Business & Economics; Environmental Sciences & Ecology |
| PDF |
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