Challenges in green accounting: Sustainable development for companies listed on the Vietnam stock exchange

Abstract

This research investigates the influence of various determinants on the adoption of green accounting (GA) practices and examines how these practices affect the performance of 283 enterprises listed on the Vietnam Stock Exchange. Despite mandatory environmental regulations set by the government, a limited number of businesses integrate GA into their sustainable development strategies. Employing a mixed-methods approach, this study combines qualitative and quantitative research methodologies, utilizing a multivariable linear regression model for the analysis of primary data through SPSS and AMOS software. The findings reveal that factors such as the potential for business expansion, state regulatory bodies, and corporate attributes positively influence the implementation of GA. Additionally, the research demonstrates the beneficial impact of GA on the operational efficiency of enterprises. Drawing from these findings, the study proposes strategic recommendations and solutions for listed companies and relevant stakeholders in Vietnam. These strategies aim to enhance corporate prestige and positioning, thereby contributing to the sustainable development of the national economy.