Sustainable development and environmental policy: The engagement of stakeholders in green products in Vietnam

Facing the challenge of environmental degradation in Vietnam, a growing number of firms have begun to integrate environmental management systems into their business strategies and develop green product diversification strategies. On the basis of the stakeholder theory, this paper attempts to explore...

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Bibliographic Details
Published in:Business strategy and the environment 2019-07, Vol.28 (5), p.675-687
Main Authors: Le Van, Quang, Viet Nguyen, Thanh, Nguyen, Manh Hung
Format: Article
Language:English
Subjects:
Customers
Development policy
Diversification
Economics and Finance
Environmental degradation
Environmental management
Environmental management systems
Environmental policy
Green marketing
Green products
Humanities and Social Sciences
Interest groups
Resource management
SMEs
Stakeholders
Strength
Sustainable development
Transparency
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Summary:Facing the challenge of environmental degradation in Vietnam, a growing number of firms have begun to integrate environmental management systems into their business strategies and develop green product diversification strategies. On the basis of the stakeholder theory, this paper attempts to explore the influences of stakeholders on the implementation of horizontal and vertical green product diversification. Empirical results show that foreign customers play a significant role in driving companies to adopt strategy of green product diversification. For foreign‐invested enterprises, the effect is limited to the adoption of horizontal green product diversification. It further reveals that institutional weakness, lack of transparency, community stakeholders, and regulatory stakeholders have no significant effect on the corporate green product strategy.
ISSN:0964-4733
1099-0836
DOI:10.1002/bse.2272