Ciemb 2022

CONFERENCE PROCEEDINGS
5th International Conference on Contemporary Issues in
ECONOMICS, MANAGEMENT AND BUSINESS

November 25th – 26th, 2022, Hanoi - Vietnam
NATIONAL ECONOMICS UNIVERSITY PUBLISHING HOUSE

TABLE OF CONTENTS
SESSION 1: ACCOUNTING & AUDITING

EVALUATING THE IMPLEMENTATION OF REMOTE AUDITS TO
AUDIT QUALITY ......................................................................................................1
Luong Thi Hong Ngan, Tran Nguyen Bich Hien, Vu Thi Thu Huyen
Faculty of Accounting - Auditing, Thuongmai University
FACTORS AFFECTING THE EFFECTIVENESS OF INTERNAL AUDIT
WHEN CONDUCTING A REMOTE AUDIT ........................................................17
Tran Nguyen Bich Hien, Luong Thị Hong Ngan, Vu Thi Thu Huyen
Auditing - Accounting Major, Thuongmai University
THE ROLE OF MACROECONOMIC VARIABLES AND THEIR VOLATILITIES
IN VIETNAMESE STOCK MARKET VOLATILITY - AN EXTENDED
EGARCH MODEL ...................................................................................................41
Nguyen Thi Lien
National Economics University
EXECUTIVE COMPENSATION AND CORPORATE DEBT MATURITY
STRUCTURE: EVIDENCE FROM FAS 123R .......................................................55
Anh T. Nguyen, Dung (Judy) T.T. Tran
School of Banking and Finance, National Economics University
THE IMPACT OF FINANCIAL REPORTING QUALITY ON INVESTMENT
EFFICIENCY OF LISTED FOOD ENTERPRISES IN VIET NAM ......................87
Nguyen Phuong Linh, Nguyen Thi Bao Ngoc, Ha Le Thanh Tam
Tran Anh Thu, Pham Kim Huyen, Nguyen Thi Hau
RESEARCH ON RESPONSES AND DESIGN OF AUDIT PROCEDURES
TO THE ASSESSED RISKS OF MATERIAL MISSTATEMENTS DUE TO
FRAUD IN FINANCIAL STATEMENTS: CASE OF VIETNAM ......................103
Ta Thu Trang
DETERMINANTS INFLUENCING THE APPLICATION OF GREEN
ACCOUNTING IN VIETNAMESE CONSTRUCTION ENTERPRISES ...........121
Nguyen Thi Minh Phuong, Le Quynh Lien
SESSION 2: FINANCE & BANKING 1
THE IMPACT OF REVENUE FROM BALANCE OF STATE BUDGET ON
EXPORT AND IMPORT ON THE STATE BUDGET’S SUSTAINABILITY ... 141
Phan Huu Nghi, Nguyen Hong Trang, Pham Thi Minh Anh
CORRUPTION, CREDITOR RIGHTS AND CAPITAL STRUCTURE: EVIDENCE
FROM EMERGING MARKETS ........................................................................... 157
Mai Quynh Ha
Faculty of Banking and Finance,
University of Economics and Business, VNU, Vietnam
Long Phi Tran, Hoang Duc Le
School of Banking and Finance, National Economics University, Vietnam
Hang Thi Thuy Le
Faculty of Natural Resources and Environmental Economics, Hanoi
University of Natural Resources and Environment, Vietnam
Van Mai Trinh
Research Management Department, National Economics University, Vietnam
IMPACTS OF THE COVID-19 PANDEMIC ON BANK PROFITABILITY
IN VIETNAM ........................................................................................................ 178
Phạm Thu Trang, Đo Thuy Linh, Tran Thi Hai Yen
Department of Banking and Finance, Thuongmai University, Vietnam
FACTORS AFFECTING THE QUALITY OF INFORMATION ON
FINANCIAL STATEMENTS OF SEAFOOD PROCESSING FOR EXPORT
ENTERPRISES IN VIETNAM ............................................................................. 193
Le Thi Loan
Hong Duc University
FACTORS INFLUENCING VIETNAM COMMERCIAL BANKS'
DECISION TO OFFER GREEN CREDIT ............................................................ 213
Khuc The Anh, Do Hoai Linh Phung Thanh Quang, Bui Kien Trung
SESSION 3: FINANCE & BANKING 2
EMPIRICAL STUDY ON DOLLARIZATION IN VIETNAM ............................229
Vu Thanh Son
Central Committee of Organization and Personnel
Vu Viet Ha
Vietnam Bank for Foreign Trade
Le Duc Hoang, Le Thanh Tam
AN EMPIRICAL INVESTIGATION ON DETERMINANTS OF SAVING
INTENTION TOWARDS SAVING BEHAVIOR OF YOUNG PEOPLE ..........259
Ngo Thi Ngoc Anh, Le Thanh Tam
FINANCIAL DISTRESS PREDICTION AMING LISTED FIRMS IN
VIETNAMESE STOCK MARKET .......................................................................280
Vo Thi Hoang Vi
University of Finance - Marketing
Mai Thi Thanh Tra
University of Finance - Marketing
DETERMINANTS OF CORPORATE CASH HOLDINGS IN THE RETAIL
SECTOR - THE CASE OF VIETNAMESE LISTED FIRMS ..............................294
Nguyen Huong Linh
KPMG
Hoang Thi Lan Huong
FACTORS AFFECTING THE INVESTMENT DECISIONS OF
GENERATION Z ON THE VIETNAM STOCK MARKET ................................ 321
Nguyen Thi Bich Thuy, Duong Duc Anh, Thai Doan Dat
Nguyen Hai Ha, Nguyen Thi Ha Trang, Nguyen Thi Ngan
Vinh University, Nghe An province, Vietnam
SESSION 4: BUSINESS ADMINISTRATION

PARTNERSHIP RELATIONSHIP IN PETROLIMEX: DATA COLLECTION,
ANALYSES, AND SOLUTIONS ..........................................................................337
Pham Van Thanh
Vietnam National Petroleum Corporation
APPLYING THE EU REGIONAL COMPETITIVENESS INDEX TO DO RESEARCH
ON THE COMPETITIVENESS OF THE RED RIVER DELTA REGION ........ 355
Nguyen Thi Phuong Thu, Le Thi Hang
Faculty of Development and Planning,
National Economics University, Hanoi, Vietnam
IMPACT OF TRANSFORMATIONAL LEADERSHIP ON JOB SATISFACTION
OF EMPLOYEES IN SMALL AND MEDIUM-SIZED ENTERPRISES IN
NORTH CENTRAL REGION............................................................................... 382
Tran Quang Bach, Thai Thi Kim Oanh
Nguyen Thi Bich Thuy, Duong Duc Anh
Tran Thi Thanh Thuy, Nguyen Thi Yen, Hoang Thi Cam Thuong
Vinh University
BOARD CHARACTERISTICS AND ASYMETRIC INFORMATION: NEW
EMPIRICAL EVIDENCE FROM LISTED FIRMS ON HOSE, VIETNAM ...... 401
Thuy Gia Phan Bui, Khanh Thuy Hong Thai
Nguyen Tat Thanh University, Ho Chi Minh City, Vietnam
Phuc Tran Nguyen
Banking University Ho Chi Minh City, Ho Chi Minh City, Vietnam
Trong Vi Ngoc
Ho Chi Minh City Open University, Ho Chi Minh City, Vietnam
THE INFLUENCES OF TEACHING COMPETENCE ON INNOVATIVE
WORKING BEHAVIOR OF SCHOOLTEACHERS IN VIETNAM ................. 423
Nguyen Van Thuy Anh, Ta Thi Minh Anh, Pham Huong Quynh
SESSION 5: ECONOMIC DEVELOPMENT & SOCIAL ISSUES
LEGITIMACY AND SUSTAINABLE INFORMATION AS A FORCE TO
EMERGE FROM DARK DAYS ........................................................................... 447
Danielle Silva Duarte, Selma Regina Martins Oliveira
Fluminense Federal University
PROFILING THE PATTERNS OF COVID-19 PHILANTHROPIC
CONTRIBUTORS IN MALAYSIA ...................................................................... 466
Amal Hayati Ishak, Muhamad Hasif Yahaya
Mardhiyyah Sahri, Shofiyyah Moidin
Academy of Contemporary Islamic Studies, Universiti Teknologi MARA Shah Alam
Salwa Amirah Awang
Politeknik Sultan Azlan Shah Perak MALAYSIA
CORRUPTION AND ANTI-CORRUPTION IN VIETNAM: PROBLEMS,
SOLUTION, AND FUTURE RESEARCH DIRECTION .....................................483
Phuong Anh Nguyen
Hanoi University of Science and Technology
Canh Quang Le
URBANIZATION AND INCOME INEQUALITY IN VIETNAM: AN
EMPIRICAL INVESTIGATION AT THE PROVINCIAL LEVEL .....................505
Do Quynh Anh, Nguyen Thi Vi Nguyen Thi Thanh Duong
Faculty of Economics,
ORCHESTRATING SUSTAINABILITY FOR PUBLIC-PRIVATE
PARTNERSHIPS: A SYSTEMATIC LITERATURE REVIEW ..........................527
Camila Rodrigues de Souza, Laís Faria de Oliveira
Selma Regina Martins Oliveira
Fluminense Federal University, Volta Redonda
QUANTILE TIME-FREQUENCY CONNECTEDNESS BETWEEN
CRYPTOCURRENCY VOLATILITY AND RENEWABLE ENERGY
VOLATILITY DURING THE COVID-19 PANDEMIC AND UNKRAINE-
RUSSIA CONFLICS ..............................................................................................548
Le Thanh Ha, To Trung Thanh
THE IMPACT OF FINANCIAL INTEGRATION ON POVERTY OF
DEVELOPING COUNTRIES IN ASIA ................................................................ 580
Nguyễn Thị Thanh Dương
School of Banking - Finance,
Đỗ Quỳnh Anh
Faculty of Economics, National Economics University
THE IMPACTS OF CREDIT ACCESS ON FARM HOUSEHOLD WELFARE
IN CENTRAL HIGHLANDS OF VIETNAM .......................................................597
Ta Nhat Linh
School of Banking and Finance,
SESSION 6: MACROECONOMICS 1
EXCHANGE RATE VOLATILITY AND ECONOMIC GROWTH: THE
ROLE OF GOVERNANCE ................................................................................... 617
Ho Thuy Tien
University of Finance Marketing
Nguyen Lam Son
Hong Bang International University
FAT TAILS AND NETWORK INTERLINKAGES OF THE CRUDE OIL,
GOLD, STOCK, AND CRYPTOCURRENCY MARKET DURING THE
COVID-19 HEALTH CRISIS ............................................................................... 637
Le Thanh Ha, Bui Huy Hoan
Bui Huy Minh Hoang
Hanoi Metropolitan University
DYNAMICS OF CONVERGENCE IN INDIAN STATES IN THE POST-
REFORMS PERIOD .............................................................................................. 664
Sakshi Bansal
University of Delhi
Pankaj Kumar Gupta
JMI University
ICT DIFFUSION, FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH:
EMPIRICAL RESULTS IN ASEAN AND LESSON LEARNT FOR VIETNAM ..... 681
Luong Thuy Linh
University of Technology Sydney, National Economics University
Nguyen Tien Dat, Tran Thi Hoa, Nguyen Thien Duc
Dao Thi Ngoc Khanh, Luong Thi Thu Hang
School of Banking and Finance,
SESSION 7: MACROECONOMICS 2
THE IMPACT OF PUBLIC INVESTMENT ON PRIVATE INVESTMENT IN
VIETNAM’S CENTRAL KEY ECONOMIC REGION AND THE MEKONG
DELTA KEY ECONOMIC REGION: A PMG APPROACH .............................. 701
Ho Thi Hoai Thuong, Nguyen Thi Thanh Huyen
Foreign Trade University
HISTORY OF ECONOMIC ANALYSIS OF CRISIS AND CURRENT
ORTHODOXY .......................................................................................................726
Arthur Bernardo C. Boquiren
Economics, Department of Economics and Political Science, College of Social
Sciences, University of the Philippines-Baguio, Republic of the Philippines
IS GOLD AN INFLATION HEDGE IN VIETNAM? ...........................................759
Do Minh Duc
DOJI Group
Tran Tho Dat, Nguyen Hong Nhung, Le Ngoc Mai and Ninh Duc Hieu
DECOMPOSED AND PARTIAL CONNECTEDNESS MEASURES FOR
ECONOMIC GLOBALIZATION, NONRENEWABLE AND RENEWABLE
ENERGY CONSUMPTION IN VIETNAM ..........................................................778
Bui Thi Minh Anh
SciEco
Pham Huy Du, Phan Tuong Vy and Nguyen Thi Khanh Ngoc
SciEco and National Economics University
Le Thanh Ha
SESSION 8: MARKETING 1
THE ROLE OF CONSUMERS’ TRUST AND COMMITMENT IN MOBILE
COMMERCE: AN APPLICATION OF COMMITMENT-TRUST THEORY ....803
Nguyen Phuong Lien, Tran Thi Thuy Dung
Faculty of Management and Tourism, Hanoi University
FACTORS AFFECTING THE INTENTION TO USE ONLINE SAVING DEPOSIT
SERVICE OF INDIVIDUAL CUSTOMES - THE CASE OF VIETNAM ...........833
Nguyen Thi Thuy Duong, Le My Hang Phuong
FACTORS AFFECTING CUSTOMERS’ INTENTION TO ACCEPT AND
USE ARTIFICIAL INTELLIGENCE TECHNOLOGY IN VIETNAM
BANKING SERVICE .............................................................................................855
Ha Van Duong
Saigon Institute of Economics and Technology
Nguyen Thi Thuy
Thang Long University
THE RELATIONSHIP BETWEEN INDIVIDUAL FACTOR, UNIVERSITY
CHARACTERISTICS, INTENTION AND DECISION TO CHOOSE A
UNIVERSITY ........................................................................................................ 886
Le Thi Thanh Thuy, Nguyen Thi Thanh Xuan
Faculty of Economics and Business Administration,
Hong Duc University, Vietnam
SOME FACTORS INFLUENCE THE WILLINGNESS TO BUY THAI
PRODUCTS - A CASE STUDY IN VIETNAM .................................................. 901
Viet Quoc Cao, Anh Ngoc Phan and Phat Thuan Doan
School of Management, College of Business,
University of Economics Ho Chi Minh City
SESSION 9: MARKETING 2
THE RELATIONSHIP BETWEEN INTERNAL MARKETING AND
ORGANIZATIONAL COMMITMENT WITH JOB INVOLVEMENT AND
JOB SATISFACTION ARE THE MEDIATORS - THE CASE OF NETNAM
IN THE IT INDUSTRY ......................................................................................... 931
Le Thi My Linh and Nguyen Hoang Thu Mai
IMPROVING BRAND VALUE THROUGH BRAND SECURITY AND
BRAND RISK MANAGEMENT STRATEGY: A CASE STUDY OF FOOD
AND BEVERAGES MANUFACTURING AND PROCESSING
ENTERPRISES IN VIETNAM ............................................................................. 961
Bui Thi Hai Yen
Hanoi School of Business and Management,
Vietnam National University, Hanoi, Vietnam
INVESTIGATION ON SHOPPERTAINMENT AND CUSTOMERS'
ONLINE SHOPPING BEHAVIOR: IMPLICATIONS FOR E-COMMERCE
BUSINESSES ........................................................................................................ 989
Thuy Thi Thu Nguyen, Hieu Minh Pham
School of Economics and Management,
Hanoi University of Science and Technology, Hanoi, Vietnam
IMPACTS OF EMPLOYER BRANDING ON SOCIAL MEDIA ON
PERCEIVED EMPLOYER ATTRACTIVENESS, ORGANIZATION'S
IMAGE AND REPUTATION AND EMPLOYEE'S APPLICATION
INTENTION .........................................................................................................1007
Pham Thu Trang, Nguyen Ngoc Thang
Hanoi School of Business and Management,
Vietnam National University, Vietnam
CUSTOMER ASSISTANCE IN ONLINE PURCHASING DECISIONS
BASED ON UNSTRUCTURED DATA CLASSIFICATION ............................1030
Le Trieu Tuan
Thai Nguyen University
Pham Minh Hoan
SESSION 10: TOURISM

IMPACT OF COVID-19 ON HOUSEHOLDS’ DOMESTIC TOURISM
SPENDING IN INDIA: A DIFFERENCE-IN-DIFFERENCE ANALYSIS .......1053
Rasmita Nayak, Bimal K. Sahoo, Mantu K. Mahalik
Department of Humanities and Social Sciences, Indian Institute of Technology
WHY DO CUSTOMERS TRUST AFFILIATE TRAVEL WEBSITE? HOW
VIETNAMESE TRAVEL COMPANIES CAN IMPROVE THEIR WEBSITES.......1081
Nguyen Dinh Toan, Truong Huy Thinh
Vu Thu Ha, Cao Ba Nghia, Tran Thu Ha
THE IMPACT OF INFORMATION TECHNOLOGY ON INTERNATIONAL
TOURISM DEMAND IN VIETNAM .................................................................1111
Pham Thi Thanh Huyen
Faculty of Tourism and Hospitality, National Economics University
Nguyen Viet Hung, Nguyen Khanh Linh
Faculty of Economics, National Economics University
LABOR PRODUCTIVITY IN THE TOURISM SECTOR - PILOT TESTING
FOR DANANG, VIETNAM ................................................................................1124
Nguyen Huyen Trang, Tran Thi Kim Thu
SESSION 11: MICROECONOMICS & SMES
SOME SOLUTIONS TO DEVELOP VIETNAM'S REAL ESTATE MARKET.... 1141
Phan Thi Thanh Huyen, Pham Phuong Nam, Nguyen Dinh Trung
Vietnam National University of Agriculture
Tran Thai Yen
Nghe An University of Economics
Nguyen Thi Hue
Hanoi University of Natural Resources and Environment
Nguyen Thi Tam
Thai Nguyen Department of Environment and Natural Resource
FACTORS AFFECTING SUSTAINABLE COMPETITIVE ADVANTAGE
AND PERFORMANCE OF REAL ESTATE BUSINESS IN THE NORTH
CENTRAL REGION OF VIETNAM .................................................................. 1158
Nguyen Ba Dong, Ha Son Tung
Faculty of Business Management, National Economics University
Luu Thanh Ha, Nguyen Thi My
FACTORS AFFECTING FIRM PRODUCTION EFFICIENCY: THE CASE
OF VIETNAM ..................................................................................................... 1172
Vu Ngoc Xuan
Nguyen Thanh Cong
Vietnam National Assembly
Nguyen Duy Thinh
Hanoi Stock Exchange
CREDIT CHOICES AND ITS EFFECT ON FIRM GROWTH: THE CASE OF
SMES IN VIETNAM ........................................................................................... 1188
Duong Thuy Linh
Chen Rui
Central University of Finance and Economics, Beijing
DIFFERENCES IN EFFICIENCY IN THE SUBCONTRACTING AND
NON-SUBCONTRACTING FIRMS: A STUDY OF INDIA’S
UNORGANISED MANUFACTURING SECTOR ............................................ 1221
Samar Kumar Mishra, Bimal Kishore Sahoo
HSS, IIT Kharagpur
SESSION 12: INTERNATIONAL ECONOMICS 1
INTERNATIONAL TRADE: A GLOBAL AND STRATIFIED ANALYSIS
OF THE COVID-19 PANDEMIC IMPACTS ON BRAZILIAN IMPORTS ......1237
Haydée Maria Correia da Silveira Batista, Nelson Francisco Favilla Ebecken
Federal University of Rio de Janeiro
Ana Claudia Dias, Annibal Scavarda
Celso Suckow da Fonseca Federal Center for Technological Education
Mirian Picinini Méxas
ASYMMETRIC EFFECT OF TRADE DEFICIT ON THE PERFORMANCE
OF MIDCAP 150 INDEX: NONLINEAR ARDL APPROACH ........................1273
Rakesh Kumar Verma and Rohit Bansal
Rajiv Gandhi Institute of Petroleum Technology, India
FINANCIAL LIBERALIZATION AND THE IMPACT ON ECONOMIC
GROWTH IN ASEAN COUNTRIES ..................................................................1287
Dang Ngoc Duc, Nguyen Thi Thanh Duong
ASSESSING THE ASYMMETRIC EFFECT OF LOCAL REALIZED
EXCHANGE RATE VOLATILITY AND IMPLIED VOLATILITIES IN THE
ENERGY MARKET ON EXCHANGE RATE RETURNS IN BRICS ..............1308
Thobekile Qabhobho
Department of Economics, Faculty of Business and Economic Sciences,
Nelson Mandela University, Port Elizabeth, South Africa
REAL EFFECTIVE EXCHANGE RATE MISALIGNMENT AND
ECONOMIC GROWTH IN VIETNAM ..............................................................1329
Nguyen Ngoc Dinh
IMPACT OF COVID-19 ON VIETNAM'S EXPORTS ......................................1344
Hoang Anh Tuan, Tran Kim Anh
Le Mai Trang, Dinh Thi Ha
Faculty of Economics, Thuongmai University
Nguyen Thi Hien
Faculty of Mathematics, Thuongmai University
SESSION 13: INTERNATIONAL ECONOMICS 2
INTERNATIONAL TRADE AND IMPACTS CAUSED BY THE COVID19
PANDEMIC ON BRAZILIAN EXPORTS: A GLOBAL AND STRATIFIED
VIEW.................................................................................................................... 1361
Haydée Maria Correia da Silveira Batista, Nelson Francisco Favilla Ebecken
Federal University of Rio de Janeiro
Ana Claudia Dias, Annibal Scavarda
Celso Suckow da Fonseca Federal Center for Technological Education
Mirian Picinini Méxas
THE CHALLENGES FOR VIETNAM’S AGRICULTURE EXPORT TO
THE EU MARKET IN THE CONTEXT OF GREEN TRADE BARRIERS .... 1392
Vu Thi Thanh Huyen, Nguyen Thị Thu Hien
Department of Economics, Thuongmai University, Vietnam
Q-BALANCE: A PRACTICAL TRUCK-CONTAINER TRANSPORT DUTY
ASSIGNMENT ALGORITHM FOR CONTAINER LOGISTIC BUSINESSES
IN VIETNAM ...................................................................................................... 1407
Dang Minh Quan
THE ECONOMIC PRESENCE OF THE UNITED STATES AND CHINA IN
SOUTHEAST ASIA: THE SITUATION AND PETITIONS FOR VIETNAM'S
FOREIGN ECONOMIC POLICY ....................................................................... 1416
Nguyen Quang Trung
Ho Chi Minh City University of Economics and Finance
INTERNATIONALSUPPLY CHAIN COOPERATION ANDEXPORT PERFORMANCE
OF VIETNAMESE SEAFOOD ENTERPRISES: A SYSTEMATIC
LITERATURE REVIEW AND DIRECTION FOR FUTURE RESEARCH ..... 1428
Xuan Hung Nguyen, Hoang Duong Nguyen, Ngoc Duong Tran
Thi Xuan Lan Mai, Duc Manh Nguyen, Thi Tuoi Bui
School of Trade and International Economics,
National Economics University, Vietnam
Thi Phuong Thao Ha
University of Labour and Social Affairs (ULSA), Vietnam
Thi Bac Dang
Hanoi University of Business and Technology, Vietnam
DO NON-TARIFF MEASURES IN THE COVID-19 PANDEMIC PROLONG
TO ACHIEVE SUSTAINABLE DEVELOPMENT GOALS? THE
PRELIMINARY LINKAGES BETWEEN NON-TARIFF MEASURES AND
SDGs IN VIETNAM .............................................................................................1455
Nguyen Bich Ngoc
SESSION 14: EDUCATION & HUMAN RESOURCES 1

THE IMPORTANCE OF A UNIVERSITY DEGREE: WHAT HAPPENS
WHEN UNIVERSITIES FAIL TO SUPPLY THE WOKRERS INDUSTRY
NEEDS ..................................................................................................................1479
John Andre
Thuy Le
Darwin Box, Hyderabad, India
DEMOGRAPHIC CHARACTERISTIC AND THE LEVEL OF PERCEIVED
STRESS AMONG VIETNAMESE GENERAL SCHOOL TEACHERS ...........1494
Pham Huong Quynh
THE INFLUENCE OF STUDENT ENGAGEMENT ON TEACHER JOB
SATISFACTION IN ONLINE EDUCATION DURING COVID-19
PANDEMIC IN HANOI .......................................................................................1517
Nguyen Van Thuy Anh
Faculty of Human Resource Management and Economics,
Nguyen My Khanh
International School of Management and Economics,
Cao Thi Hoang Anh
University of the West of England Bristol
WERE ONLINE COURSES ADVANTAGEOUS DURING THE COVID-19
PANDEMIC? AN EXPERIMENTAL ANALYSIS IN INDIA ...........................1543
Sidhartha Harichandan and Sanjay Kumar Kar
Rajiv Gandhi Institute of Petroleum Technology, India
THE IMPACT OF EDUCATION ON HEALTH AMONG THE VIETNAMESE
OLDER ADULTS: EVIDENCE FROM A NATIONAL SURVEY .................. 1565
Vu Duc Hieu
Thang Long University
Giang Thanh Long
SESSION 15: EDUCATION & HUMAN RESOURCES 2

INFORMAL LEARNING AND TEACHERS’ INNOVATIVE WORK
BEHAVIOR: EXPLORING THE MODERATING EFFECT OF
ORGANIZATIONAL INNOVATIVE CLIMATE ............................................. 1583
Pham Huong Quynh, Nguyen Thi Loan, Nguyen Van Ngoc
Tran Kim Anh, Nguyen Thi Lam Oanh and Le Thi Yen
SHARING KNOWLEDGE IN UNIVERSITIES: INTERNATIONAL
EXPERIENCE AND LESSONS FOR VIETNAM ............................................. 1611
Dam Thi Thanh Dung
University of Labour and Social Affairs
DO LEARNING CLIMATE AND GROWTH MINDSET FACILITATE
KNOWLEDGE-SHARING BEHAVIOR AMONG ACADEMICS IN UNIVERSITY?
A PERSPECTIVE OF CONSERVATION OF RESOURCES THEORY .......... 1619
Nguyen Thanh Phi Van
Nguyen Tat Thanh University
FINANCIAL SOCIALIZATION AGENTS AND FINANCIAL LITERACY
AMONG UNIVERSITY ...................................................................................... 1643
Hinh Le Van, Xuan Dang Thi Le
Faculty of Development Economics,
National Economics University, Ha Noi
FACTORS AFFECTING EDUCATIONAL INEQUALITY DURING THE
COVID-19 PANDEMIC: THE CASE OF SECONDARY SCHOOL PUPILS
IN HANOI, VIETNAM ....................................................................................... 1665
Nguyen Dang Nui, Le Thi Thu Huong
Do Quang Hung, Nguyen Nhu Ngoc, Duong Quang Minh
SESSION 16: TECHNOLOGY & INNOVATION
FACTORS INFLUENCING INNOVATIVE BEHAVIORS OF STUDENTS:
A STUDY OF UNDERGRADUATE STUDENTS WITH ECONOMICS AND
MANAGEMENT RELATED MAJORS IN HANOI ...........................................1681
Nguyen Phuong Mai
DRIVING FACTORS FOR GREEN INNOVATION IN VIETNAMESE
CONSTRUCTION ENTERPRISES .....................................................................1702
Xuan Hung Nguyen
Manh Dung Tran
Journal of Economics and Development,
Khanh Linh Nguyen, Thi Van Ha Nguyen, Thi Thanh Huyen Nguyen
Vu Hoang Pham
Ministry of Construction, Vietnam
THE IMPACT OF DIGITAL TRANSFORMATION IN HUMAN
RESOURCES ON CREATIVE INNOVATION, OPERATION EFFICIENCY,
AND SUSTAINABLE DEVELOPMENT IN VIETNAMESE FIRMS ..............1727
Dinh Thi Huong, Nguyen Hong Chau Linh
Thuongmai University
EMPLOYABILITY IN THE DIGITAL ECONOMY: DEVELOPING
ENTREPRENEURIAL AND CREATIVE SKILLS USING METACOGNITION
TO PROMOTE 21CL ...........................................................................................1752
Ray Webster and John Andre
International School of Management and Economics,
EMERGING FROM DARK DAYS: MANAGING IT PROJECTS AND
PERFORMANCE IN AN EMERGING ECONOMY ..........................................1772
Rafael Miranda Correia
Federal Institute of Tocantins
Selma Regina Martins Oliveira
DRIVING FACTORS FOR GREEN INNOVATION
IN VIETNAMESE CONSTRUCTION ENTERPRISES
Xuan Hung Nguyen
Manh Dung Tran
Journal of Economics and Development,
Khanh Linh Nguyen, Thi Van Ha Nguyen, Thi Thanh Huyen Nguyen
Vu Hoang Pham
Ministry of Construction, Vietnam
Abstract:
The objective of this paper is to evaluate the influences of different factors on green
innovation in Vietnamese construction enterprises by analyzing data from 450
employees and managers at all levels working in this field. After five months of
collecting data and using quantitative analysis with a linear regression model, findings
have shown positive impacts of all factors studied on green innovation: Green dynamic
capabilities, Green creativity, Green knowledge sharing, Corporate environmental
ethics, Pressure from industry competitors, and regulators. From those conclusions,
this paper proposes solutions for both enterprises and regulators - one of the external
stakeholders to develop green innovation in the construction sector.
Keywords: Green innovation, green dynamic capabilities, green creativity,
stakeholders, construction enterprises.
1. Introduction
Environmental pollution and climate change have led to serious consequences
all over the world. Enterprises - as the key driving force for economic development -
are identified as the factors making the most negative impacts on the ecology due to
energy consumption and carbon dioxide emissions. The global context forces
companies to change toward sustainable development when the limited natural
resources are depleting gradually day by day. As environmental issues are becoming
more and more necessary, green innovation has appeared and brought to enterprises
multiple benefits particularly and the whole society in general such as maintenance
the management of environmental activities in organizations (Chen, 2008; Yang et
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al., 2016). Besides, companies that pioneer in green innovation will receive first
mover advantages that allow them to assess higher prices for their green products as
well as improve their images in the eyes of authorities and consumers (Hart, 1995).
Green innovation has a positive effect upon competitive advantage for corporations
compared to their competitors in the same industry (Chen et al., 2006).
In today's world, green innovation is mainly researched in developed countries
such as the United States, China and Europe whereas unsustainable materials and
production activities mostly come from developing and industrializing countries like
Vietnam. In this developing country, there are very few researches on green issues
that has not been widespread to companies across Vietnam even though pollution is
getting more and more serious (Hung et al., 2022). From the view of Vietnamese
industrial structure, construction is one of the key industries creating the motivative
growth of the national economy. This sector accounts for 37.86% of GDP in 2021,
contributing 63.8% to the growth rate of the total added value of the whole economy
compared to 2020 (Vietnam GSO, 2021). However, the construction industry also
causes a huge impact on the environment, contributes about 23% to air pollution and
40% to drink water pollution (Vietnam GSO, 2021). How green innovation in this
sector is happening and what are the key factors that stimulate green innovation in
the industry requires more specific research.
This study focuses on analyzing and evaluating factors affecting green innovation
in construction companies in Vietnam. The main quantitative research methods used in
this paper are regression analysis, combining descriptive statistics, comparing and
synthesizing relevant documents. From the findings, we propose solutions to enhance
green innovation for construction companies in Vietnam in the near future.
The structure of this research paper consists of 5 parts: (i) Introduction, (ii)
Literature Review and Hypothesis Development, (iii) Methodology and
Measurement, (iv) Empirical results and (v) Discussions and Implications.
2. Literature Review and Hypothesis Development
2.1. Literature Review
Previous studies in the world have clarified the theory of green innovation as
well as the factors effected on green innovation through empirical research in different
fields and regions. Each studies has distinguish perspective of approaches and subjects.
Resources and capacity factors play key roles in company's green innovation.
For example, Chang (2011) claimed that environmental ethics, a part of corporate
culture positively influenced green product and process innovation through resource-
based view (Wernerfelt, 1984). In addition, knowledge sources, especially green
1703
knowlegde is considered as an important non-physical resources and have a
significant impact on the green innovation of enterprises. Therefore, enterprises
should enhance their ability to absorb, transfer and adapt new knowledge (green
knowledge sharing) to improve green innovation (Albort - Morant et al, 2018). For
instance, Wong (2013) show that there is a positive correlation between green
knowledge sharing and green innovation (both product & process dimensions) among
203 electronics manufacturers in China. Capability factor is also crucial for a
company to achieve innovation and competitive advantage. That's why some previous
researches have shown both direct and indirect influence on capability factors on
enterprise green innovation. Gluch et al. (2009) proposed the concept of green
absorptive capacity based on the theory of absorptive capacity (Zahra & George,
2002); affirms this factor could create a green innovation mechanism in the
construction sector. Meanwhile, (green) dynamic capabilities and (green) creativity
can significantly improve the attitude of enterprises towards green innovation (Chen
& Chang, 2013, Lin & Chen, 2017, Chen et al, 2016).
Having the same approach to stakeholder theory, previous studies have shown
different influences of each member of the stakeholder on corporate green innovation.
According to Qi et al. (2010) government regulations significantly affected the
adoption of green construction practices, but project stakeholder pressures do not.
Along with Pressure from the government, Weng et al. (2015) also showed that
Pressure from competitors has a positive and significant impact on green innovation
activities. Rui & Lu (2021) confirmed that stakeholders' regulatory pressure
normative pressure, and imitation pressure from three aspects: government,
customers, competitors can promote green innovation.
In Vietnam, green innovation has been studied very limitedly, although there
has been initial steps to mention the importance of innovation and environmental
protection in firm. Researching on innovation in the hotel, Ha (2020) focused on green
product and process innovation, show that current general development trend of green
innovation is to minimize negative impacts on the natural environment. Research
results confirmed the importance of accessible knowledge as well as the ability to find
and use knowledge to develop green innovation activities. Tinh (2020) researched
about the drivers of the success of green new products at plastic enterprises in Ho Chi
Minh . The result showed that green product innovation, green process innovation and
risktaking had positive effects on the success of green new products.
There are quite a few studies on the factors affecting green innovation, but the
research results in this field are not consistent and still controversial. In addition,
studies on green innovation in Vietnam remain very limited as many typical factors
(such as green dynamic capabilities, stakeholders pressure, green creativity,…) have
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not been considered yet. Green innovation in construction industries has been
examined, but has not been studied intensively and comprehensively on the
influencing factors in the context of Vietnam. The authors find that the above gaps
are the premise and directions that can be exploited most effectively in this topic.
2.2. Hypothesis Development
2.2.1. Green Innovation
According to Organization for Economic Co-operation and Development
(OECD), innovation includes two main aspects which are product innovation and
process innovation. It can be defined as the improvement or implementation one or
both aspects to create the differences compared to the previous products or processes,
which have been made available to potential users or brought into use by the unit
(Oslo Manual, 2018). Green innovation is different from other types of firm's
innovation that are neutral, focus on the changes and have potential to open in all
directions (Rennings, 2000). However, based on recent development, sustainable
innovation, in other words, environmental innovation pays attention to reduce the
environmental burdens, improve the situation for companies and the whole society as
well. One of the first definition about environmental innovation (Klemmer et. al.,
1999) regarded that it measures the development of new ideas, behaviors, products
and processes so as to apply or introduce them and which contribute to a reduction of
environmental burdens or to ecologically specified sustainability targets. These
activities could be done by any related stakeholders including companies, politicians,
unions, associations, religious units, private household. Environmental innovation
can be categorized into four aspects: technological, organizational, social and
institutional innovation (Rennings, 2000).
Considering at firm level, Chen et. al. (2006) initially proposed green innovation's
definition as hardware or software innovation that is related to green products or
processes, including the innovation in technologies that are involved in energy-saving,
pollution-prevention, waste recycling, green product designs, or corporate
environmental management. This is a popular definition which was used by plenty of
other research work such as (Chang, 2011; Huang & Li, 2015; Song & Yu, 2017).
Green innovation is considered strictly necessary for the whole society,
especially with the high-level competitive industry in the global market (Ar, 2012).
For businesses, green innovation can help increasing resources using effectiveness,
potentially have a positive effect on financial performance (Aguilera-Caracuel &
Ortiz-de-Mandojana, 2013) due to the reduction of unnecessary costs, time, money
and resources required. Not only does green innovation maintain the organizational
profit margin, but also it can provide more profit from improvement (Chang, 2011).
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Besides, green innovation develops green image, helps corporates gain advantages of
public judgement, increase firms' reputation (Weng et al., 2015) and reinforces green
advantages (Chen et al., 2006; Amores et al., 2014). Ghisetti & Rennings (2014)
emphasized the role of green innovation in establishing company protection for
improvement and long-term development through fundamental of irreproducible or
inflexible innovation such as continuously applying product differentiation. For the
whole society, green innovation gradually changes cognition and productive model
of nations toward clean and environmentally friendly technology, reduction on toxic
gases and pollutants. Carrion-Flores & Innes (2010) stated that green innovation
helps to decrease toxic chemicals releasing, put recyclable materials into real
products and consolidate the relationship between businesses and government,
consumers or non-governmental organizations which have the same targets of
environmental protection.
2.2.2. The relationship between corporate environmental ethics and green innovation
Guo & Yang (2020) explicated that corporate environmental ethics (CEE) as
an element of corporate culture that integrates environmental awareness into decision-
making and formalizes green beliefs and ethics through environmental policies. Based
on natural resources' perspective (Hart, 1995), CEE associates with innovation by
establishing environmental policies and practical activities, therefore, improves firm's
image and reputation, pave the way for financial position (Peng & Lin, 2008). Besides,
the greater concerns of executive broad are, the larger domain and faster speed at which
the company react to issue is (Eiadat et. al., 2008). Meanwhile, the explicit CEE
policies will trigger active environmental activities of company's members, facilitate
green innovation (Porter & van der Linde, 1995; Chen & et. al., 2006).
Previous researches showed resemble relationship between CEE and green
innovation in businesses. From resources-based view, Chang (2011) concluded that CEE
has positive influence on both green product innovation and green process innovation.
The same conclusion could be seen in studies of Chen & Chang (2013), El- Kassar et al.
(2018), Guo & Yang (2020) despite having been studied at different periods of time and
areas. Consequently, this research paper implies the following hypothesis:
Hypothesis 1 (H1): Corporate environmental ethics has positive effect on
green innovation.
2.2.3. The relationship between green creativity and green innovation
According to model of organizational creativity and innovation (Amabile,
1988), any ideas about products, services, processes or practices which have
difference from the previous ones, concurrently provide values and appropriate with
targets are creativity. Under the Pressure of innovation and sustainable requirements
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nowadays, definition of green creativity (GC) was proposed by Chen & Chang (2012)
as the development of new ideas about green products, green services, green
processes, or green practices that are judged to be original, novel, and useful. Also
deriving from this model, there will be not any innovation without creative ideas,
thus, this factor plays an essential role on innovation process (Amabile, 1988;
Anderson et. al., 2014). Ireland & Webb (2007) stated that ideas came from dynamic
environment should be considered carefully in order to put into practice. Therefore,
the impact of creativity on innovation will be even more considerable and apparent
in dynamic instead of static environment (Baron & Tang, 2011).
Amabile (1988) opined small group or individual creativity as the most crucial
factor for organizational innovation. Thus, green initiatives which were developed on
basis of green creativity are acknowledged to be vital fuels for environmental innovative
activities. Many researches had the identity result that green creativity positively affects
green innovation in organization and business such as Song & Yu (2017), Malik et al.
(2021). Consequently, this research paper implies the following hypothesis:
Hypothesis 2 (H2): Green creativity has positive effect on green innovation.
2.2.4. The relationship between green dynamic capabilities and green innovation
According to the resource-based view and the change of environment,
dynamic capabilities are firm's ability to integrate, build, and reconfigure internal and
external competences to address rapidly changing environments (Teece et. al., 1997).
With contemporary trend, dynamic capabilities can be used in order to develop and
promote green initiatives by seize the potential opportunities, integrate resources
depending on the changing environments. Chen & Chang (2013) clarified green
dynamic capabilities (GDC) as the ability of a company to exploit its existing
resources and knowledge to renew and develop its green organizational capabilities
to react to the dynamic market. The development of green innovation depends
majorly on whether the firm has ability to quickly adopt required changes related to
environmental management or not (Sun et al. 2020). The firm which has strong green
dynamic capabilities can recognize the opportunities to create green business
processes (Teece & et. al., 1997; Teece, 2007; Teece, 2018), innovate effectively
(Huang & Li, 2015; Lin & Chen, 2016); even can gain the successful product
development (Chen & Chang, 2013) and firm performance (Chen et. al., 2015).
In today's fluctuating business environment, firms need green dynamic
capabilities to innovate greenly through grabbing potential opportunities, market
quick adaption and the complete changes in not only products but also company's
process. Many previous research had the identity result when green dynamic
capabilities positively affect green innovation in business such as Huang & Li (2015),
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Lin & Chen (2016), Yousaf (2021), Singh et al. (2022). Consequently, this research
paper implies the following hypothesis:
Hypothesis 3 (H3): Green dynamic capabilities have positive effect on green
innovation.
2.2.5. The relationship between green knowledge sharing and green innovation
Green knowledge sharing (GKS) was originally proposed by (Lin & Chen,
2016) as synthesis and sharing environmental knowledge throughout by members in
the organization. According to the resource-based view, knowledge is regarded as a
vital non-material resource (Van der Hoof & Leeuw van Weenen, 2004), therefore,
green knowledge sharing is an effective way to utilize resources, supporting
innovation process and forming the core competence of corporate (Wong, 2013).
Sharing information about environment help to not only renovate product but also
build the foundation for effective and synchronic office working process innovation.
Because encouragement knowledge sharing is not expensive but can be the
inspiration for greening company's products and process (Lin & Chen, 2016).
Hou et al. (2017) studying about Chinese manufacturing industry from 2008
to 2014 declared significantly negative effect of knowledge sharing on the growth of
green innovation. However, Kamasak & Bulutlar (2010), Nonaka (1991), O'Neill &
Adya (2007) claimed that if a firm has professional standards for knowledge sharing,
it will have stronger capabilities to innovate products and processes. Having the same
perspective, Lin & Chen (2016), Abbas & Sagsan's (2019), Alzuod (2020), Zhou et
al. (2020) stated that green knowledge sharing influences firms' green innovation
positively. Consequently, this research paper implies the following hypothesis:
Hypothesis 4 (H4): Green knowledge sharing has positive effect on green innovation.
2.2.6. The relationship between external stakeholders and green innovation
Freeman (1984) defined stakeholders are any groups or individuals can
influence or be affected when the organization reaches its targets, including
shareholders, customers, employees, suppliers and regulators, competitors,
environmentalists, and critics. However, we need to base on domain and subjects of
the research to analyze a firm's stakeholders. We rely on Weng et. al. (2015) to clarify
five primary stakeholders including external stakeholders (competitors and
regulators) and internal stakeholders (customers, suppliers and employees).
Regulators can affect the firms' environmental management by laws and
policies (Huang et. al., 2009). These changes put pressures on firms to adjust
decisions and green innovation process (Huang et. al., 2009; Hsu et. al., 2013; Weng
et al, 2015; Zhang & Zhu, 2019; Rui & Lu, 2021). Moreover, Pressure from regulators
can have the biggest impact on green innovation (Rui & Lu, 2021).
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When industry competitors offer new green products or processes, corporate
may face the Pressure to reevaluate its innovative capabilities and compare itself to
the industry standards to make the adjusting decision (Weng et. al., 2015). This is
assumed as normative Pressure from competitors (Lin, 2014; Peng & Wei, 2015); so
that corprorates have to make decision to increase or promote green practices in their
companies if they do not want to lose their competitive advantages. Hence, Pressure
from competitors influences green innovation positively (Huang et. al., 2009; Hsu et.
al., 2013; Rui & Lu, 2021Weng et. al., 2015). Consequently, this research paper
implies the two following hypothesises:
Hypothesis 5 (H5) Pressure from regulators (PFR) has positive effect on green innovation.
Hypothesis 6 (H6) Pressure from industry competitors (PFIC) has positive
effect on green innovation.
2.2.7. Model
Based on the above theories and analysis, we propose a research model with
06 independent variables and 01 dependent variable. Besides, in order to examine
different level of green innovation in enterprises with different characteristics, we
decide to use size, age, type of firms as control variables.
Ficture 1: Conceptual model
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3. Research Methodology
3.1. Data collection
The authors use research data including both primary and secondary data.
Secondary data is collected through corporate reports or articles, scientific research topics.
Primary data was collected by means of online (Google forms) and offline
(paper survey) methods for those who belong to the business leadership such as
directors, deputy directors and employees fully grasp relevant information of
construction enterprises in Vietnam. Enterprises surveyd include: contractors;
construction consultants; enterprises producing technological equipment and
construction materials and enterprises investing in construction. The time to take
place is from November 20, 2021 to March 20, 2022.
3.2. Data analysis
The authors use SPSS 26.0 software to analyze the data. The steps of data
analysis include: (1) Checking the reliability of the scale by Cronbach's Alpha
coefficient, (2) EFA factor analysis to check convergence, and eliminate unsatisfactory
know-how, (3) Pearson correlation analysis, (4) Linear regression analysis to verify
the influence of factors on the dependent variable, (5) One - way ANOVA is used to
examine the difference in green innovation of construction enterprises with different
characteristics in terms of: size, operating time and business type.
4. Empirical results and Discussion
4.1. Empirical results
4.1.1. Sample description
The total questionaires collected was 472 . After removing 22 unqualified ones,
the number of valid questionaires included in the analysis was 450, equivalent to 95.3%.
About the types of construction enterprise where respondents are working, the
number of people coming from joint stock companies makes up the largest share
(60.2%), the rest are representatives from private enterprises and partnerships (21.8%),
limited liability company (18.0%). Regarding the age of companies, most managers
and employees participating in the survey come from enterprises with an average age
(10-30 years). The number of respondents from companies with less than 100
employees accounts for the majority with 49.8%, the rest are managers and employees
from businesses with 100 - 200 people (27.6%) and more than 200 people (22.7%).
4.1.2. Reliability and validity
Cronbach's Alpha test removes one item - GKS(3) because the total correlation
coefficient is less than 0.3. After removing this item, all constructs have Cronbach's
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Alpha coefficients > 0.7 and the remaining items all have the total correlation
coefficients greater than 0.3, suitable for next analyzing step.
Table 1: The Cronbach's a coefficients of the constructs
Constructs Numbers of items Cronbach Anpha
coefficient
Before After
Corporate environmental ethics 4 4 0.789
Green dynamic capabilities 5 5 0.810
Green creativity 5 5 0.788
Green knowledge sharing 7 6 0.822
Pressure from regulators 5 5 0.817
Pressure from industry 5 5 0.814
competitors
Green innovation 7 7 0.847
4.1.3. Exploratory Factor Analysis (EFA)

First factor analysis results: GKS(6) is excluded because this item is uploaded
in both factor groups 1 and 3. At the same time, the test also removed item PFIC(5)
because this item has loading coefficient less than 0.5. The remaining items meet the
requirements of separation and convergence between groups; also, all items have
factor loading coefficients greater than 0.5, showing that these observed variables are
statistically significant for inclusion in the next analysis steps.
Second factor analysis results
Table 2: Results of exploratory factor analysis (EFA)
Accumulation
KMO & Number of Number of
Sig percentage of
Bartlett factors items
explained variance (%)
Independent 0.916 0.000 6 28 58.214%
variables
Dependent 0.894 0.000 1 7 52.275%
variable
Independent variables: The second EFA analysis results remains 28 items of
6 independent variables. The KMO coefficient of Barlett's Test is 0.916 > 0.5 with
significance level sig = 0.000 < 0.5, so the data used for factor analysis is appropriate.
Eigenvalues of the first 6 constructs > 1, so only 6 groups of construct are created,
completely consistent with the original model of 6 factor groups. The total variance
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extracted was 58.214%,, which means that 6 independent variables extracting
58.214% from 28 observed variables. The model after EFA analysis with the
independent variable is evaluated as suitable.
Dependent variable: The KMO coefficient of Barlett's test is 0.894 > 0.5
with the significance level sig = 0.000 < 0.5, the items are correlated with each
other, so the data used for factor analysis is appropriate. The analysis results only
have one Eigenvalues > 1, so only one dependent variable is created, which
coincides with the Green innovation variable in the proposed model. The
cumulative explained variation is 52.275%, indicating that the above factor explains
52.275% of the variation of 7 items.
4.1.4. Correlation analysis

Table 3: Descriptives and correlation coefficients between the constructs
Mean SD GI CEE DC GDC GKS GFS
GI 3.812 0.638
CEE 3.833 0.862 0.449**
GC 4.051 0.780 0.584** 0.357**
GDC 4.058 0.738 0.577** 0.407** 0.387**
GKS 4.033 0.764 0.518** 0.349** 0.433** 0.394**
PFR 4.062 0.773 0.527** 0.386** 0.533** 0.445** 0.456**
PFIC 4.096 0.764 0.443** 0.325** 0.395** 0.297** 0.480** 0.457**
Note: * p < 0.05, ** p < 0.01
The results show that the sig of Pearson correlation between the independent
variables (CEE, GC, GDC, GKS, PFR, PFIC) and the dependent variable (GI) are
all < 0.05, which shows that 6 independent variables are correlated with the
dependent variable. The correlation between Green creativity and Green innovation
is the strongest (r = 0.584) and with Pressure from industry competitors is the
weakest (r = 0.443). It can be seen that between the variables, correlation
coefficients are not exceeding 0.8. We conclude that there is no multicollinearity
between the independent variables and the dependent variable as well as between
the independent variables.
4.1.5. Regression analysis
The linear regression analysis by the one-pass method (Enter) with 6
independent variables, namely CEE, GC, GDC, GKS, PFR, PFIC and the dependent
variable Green Innovation shows the result in Table 4.
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Table 4: Empirical results of regression analysis
Coefficientsa
Unstandardized Standardized Collinearity
t Sig.
Model Coefficients Coefficients Statistics
B Std. Error Beta Tolerance VIF
Constant 0.398 0.151 2.645 0.008
CEE 0.081 0.027 0.109 2.965 0.003 0.745 1.341
GC 0.226 0.033 0.277 6.952 0.000 0.639 1.565
GDC 0.254 0.033 0.294 7.742 0.000 0.701 1.427
GKS 0.132 0.033 0.158 3.975 0.000 0.643 1.556
PFR 0.076 0.035 0.092 2.199 0.028 0.577 1.734
PRIC 0.078 0.032 0.093 2.413 0.016 0.680 1.471
The sample regression equation is rewritten with the normalized regression

coefficient as follow:
GI = 0.109*CEE +0.277*GC + 0.294*GDC + 0.158*GKS + 0.092*GFR + 0.093*GFIC
Regression result shows that the adjusted R2 value is 0.546, meaning 54.6%
the change of green innovation is explained by 6 independent variables, the remaining
45.4% is due to out-of-model variables and random error. The model does not have
autocorrelation (DW = 1,710) and multicollinearity (VIF < 2). At the same time, the
sig of t-test of 6 constructs are all < 0.05, which means that the factors included in the
model are appropriate and statistically significant at the 5% level of significance.
Thus, hypotheses H1, H2, H3, H4, H5, H6 are accepted with 95% confidence level,
meaning that 6 factors: Corporate environmental ethics, Green creativity, Green
dynamic capabilities, Green knowledge sharing, Pressure from regulators, Pressure
from industry competitors have positive impacts on Green Innovation in Vietnamese
construction enterprises.
4.1.6. Difference analysis
To examine the influence of characteristics including size, age, type of
business on green innovation of construction enterprises in Vietnam, firstky we use
Levene test to check if the variances of the groups are equal, then use the results of
Welch test or the F test to draw conclusions about the differences.
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Table 5: Results of One - way ANOVA test
Sig. Sig.
Complementary hypothesis Conclusion
(Levene test) (Welch test)
There are differences in green

innovation between types of 0.161 > 0.05 0.087 > 0.05 Rejected
construction enterprises

innovation between sizes of 0.035 < 0.05 0.000 < 0.05 Accepted

Accepted
innovation between ages of 0.0 2< 0.05 0.000 < 0.05
About types of enterprises: The results in Table 5 show that the Sig value of
the Levene test is 0.161 > 0.05, indicating the variance between types of enterprises
is not different. Besides, the Sig value of Welch test is 0.087, also > 0.05. Therefore,
at the 95% confidence level, there is no statistically significant difference in the level
of green innovation between construction enterprises of different types.
About sizes of enterprises: Based on the results of Table 5, the Sig value of the
Levene test is 0.035<0.05, showing that there are differences in variance between
groups in terms of size of enterprises. Next, the result of Welch's Sig test is 0.000 <
0.05, showing that there are statistically significant differences in green innovation of
enterprises based on different enterprise sizes. The larger size, the higher green
innovation level of the enterprise: Under 100 employees (3.49), from 100 to less than
200 employees (3.86), over 200 employees (4.46).
About the ages of enterprises: According to Table 5, the Sig value of Levene
test is 0.02 < 0.05, showing that there are differences in variance between groups in
terms of ages of enterprises. Next, the Welch test gives Sig = 0.000 < 0.05, which
proves that there is a statistically significant difference in green innovation of
enterprises based on the ages of different enterprises. The more years of operation,
the higher green innovation level of the enterprise: under 10 years is the lowest (3.39)
and the highest is over 50 years old (4.44).
4.2. Discussion
Green Dynamic Capabilities: When the green dynamic capabilities of
enterprises increase, they respond and adapt faster, so green innovation will rise in
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both size and quality. In details, Green dynamic capabilities enhances green
innovation of enterprises by promoting green strategic goals, green management,
R&D and applying green technologies, knowledge and techniques. In addition, green
innovation is gradually becoming an urgent requirement but often associated with
high risks. This requires businesses to flexibly seize green business opportunities and
quickly adapt to reduce risks. At this time, green dynamic capabilities helps
businesses effectively manage resources and knowledge, becoming an important
factor to promote green innovation and determining the success of the innovation.
Many reseachers also share the same results, such as: Eriksson (2014), Huang & Li
(2015), Chen et al (2015), Lin & Chen (2016), Yousaf (2021), Singh et al (2022). Lin
& Chen (2016) pointed out that thanks to green dynamic capabilities, enterprises
effectively exploit and restructure not only internal but also external resources in
order to develope green innovation.
Green creativity: Creativity brings unique ideas which are different from
previous products and processes. Also, these suggestions are useful with many
outstanding advantages which overcome limitations of old products. In particular,
Green creativity is also associated with making proposals to minimize negative
environmental impacts of products and operating processes; becoming a driving
force, resource for green innovation. When green creativity is enhanced, new ideas
which increase in both quantity and quality are considered and selected by businesses
before turned into specific inventions and actions. Since then, this stimulates a
process that can enhance green innovation. This result is similar to the research of
Song & Yu (2017), Malik et al (2021).
Green knowledge sharing: Green innovation includes the process of
improving and developing product. These activities require lots of specialized
knowledge as well as general knowledge related to the environment. Sharing green
knowledge will help spread, communicate, improve understanding,and build
common knowledge of whole enterprises. In addition, this factor promotes sharing
and cooperation between stages and departments, transforming knowledge into
representative knowledge for organization to apply, helping managers with decision
making. Therefore, sharing green knowledge will create necessary resources to help
businesses innovate greenly. This is consistent with previous research results of Lin
& Chen (2016), Abbas & Sagsan's (2019), Alzoud (2020), Zhou et al (2020).
Corporate environmental ethics: Corporate environmental ethics expresses
through the environmental policies of enterprise. Especially, in the fields which have
significant impacts on the environment as construction, requirements of choosing
green materials, ensuring pollution reduction during construction, are the
fundamentals of specific and particular actions to protect the environment and
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businesses can make green innovation become reality easier. In addition, businesses
that have a long-term plan and vision, placing the environment in a priority position
in their operations also tend to innovate greener. The studies of Chang (2011), Chen
& Chang (2013), El-Kassar et al. (2018), Guo & Yang (2020) all show similar results
that environmental ethics has a positive impact on green innovation despite having
being studied at different times and areas.
Pressure from industry competitors: Firstly, the construction market in
Vietnam is still not fully developed and diversified, leading to a relatively large value
dependence among small and medium-sized construction enterprises which do not
have enough resources to innovate. This creates little incentive for process innovation
for businesses that hold less important positions in value chains and supply chains. In
addition, the market trend of sustainable development has opened more niche markets
for construction enterprises such as specializing in research and development of green
materials, green buildings,... Projects which have international certification of green
buildings are interested by many businesses because of their prestige and scale. That
means the levels of competition in these new markets are also very high, however,
most Vietnamese construction enterprises still do not have enough resources to
compete with foreign competitors with strong resources - abundant capital, advanced
technology, large scale and long operating years. This result is similar to researches
of Huang et al (2009), Hsu et al (2013), Rui & Lu (2021), Weng et al (2015).
Pressure from regulators: Although the influence of laws and regulations on
business activities is highly judged, they do not have much impact on green
innovation activities. It shows that Vietnamese construction enterprises are not aware
of the long-term benefits in green innovation, but only focus on short-term profits.
This phenomenon shows that it is difficult to encourage green innovation in
organizations because they only passively change to meet the requirements of the
States management agency. From the perspective of the relationship between
enterprises and the States, great Pressure can also appear due to the overlapping and
inadequate policy systems, which only put administrative Pressure on enterprises, not
closely promote innovation by taking action in positive and proactive manners. This
result is consistent with the studies of previous studies such as Huang et al. (2009),
Hsu et al. (2013), Weng et al (2015), Zhang & Zhu (2019), Rui & Lu (2021).
5. Conclusion and Implications
From the results of quantitative analysis, the study has shown the factors
affecting green innovation in Vietnamese construction enterprises, including 6 factors
arranged in descending order of impact: Green dynamic capabilities, Green creativity,
Green knowledge sharing, Corporate environmental ethics, Pressure from industry
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competitors and Pressure from regulators. This is the basis for us to propose
recommendations for construction enterprises as well as State management agencies
to promote green innovation activities in the construction field in the coming time.
5.1. For construction businesses
Green dynamic capabilities are the factor that has the strongest influence on
green innovation. Therefore, construction businesses need to be aware of the role of
green dynamic capabilities, prioritizing in selecting managers with long - term vision
to help businesses take advantage of green business opportunities. Empowering,
establishing quick response teams who specialize in collecting information about the
green construction market to flexibly assess the certainty of each opportunity, support
managers' decisions in green innovation. Improving the qualifications of employees
on green technology through training and practice, strengthening cooperation with
large construction enterprises with advanced technology.
To enhance the green creativity, businesses need to invest resources to develop
R&D activities, orient employees and all company in particular on developing and
using green products and green technology to position the differences of company.
Developing policies and reward mechanisms such as: prioritizing in recruiting
candidates with environmental knowledge, creating contests about environmental
design, rewarding green ideas for effective application into buildings,… to encourage
employees on implementing green innovation.
Green knowledge sharing is considered as the most easily impacted factor to
stimulate green innovation in construction enterprises. Companies need to have
regular meetings between departments to discuss major topics in green construction:
green architecture, green building, green materials,… to balance financial capacity
with ability to implement green innovation. Managers need to specify the level of
information about the environment that each department needs to know, in order to
improve the general knowledge base of whole organization, turn tacit knowledge into
representative knowledge, and build a strong brand toward sustainable development.
Sending representatives to attend in-depth seminars related to green construction to
learn new expriences.
To increase corporate environmental ethics, businesses need to actively
approach and realize this factor by specific items in the policy at work which are
integrated into daily activities departments. Regularly organizing training programs
to improve environmental awareness and behavioral capacity of employees.
Reasonably allocating annual budget and other related resources for environmental.
To turn Pressure from regulators into a driving force for green innovation, firstly,
it is essential to get rid of the short-term thinking that spending on the environment is an
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unnecessary investment; stop just wanting to deal with directives and environmental law.
Proactively propos recommendations related to environmental management, policies
and regulations for the Government, local authorities.
In the context of increasingly fierce competitive environment, in order to
transform this Pressure into a driving force for green innovation, enterprises need to
continuously observe the improvement of competitors and analyze their strategic
orientations in the field of green innovation, then integrate what can be learned from
competitors into the company's environmental strategy. Setting the goal of achieving
green building certification or ISO 14001 as a signal to increase competitive
advantage. Increasing research and cooperation with successful FDI construction
enterprises in green innovation in Singapore, Korea, European countries,... to transfer
technology and improve quality of human resources which can compete with foreign
construction companies. Enhancing exchanges between members in their supply
chain, setting the goal of comprehensively greening the supply chain from production
to design and construction.
5.2. For authority
The government should subsidize green initiatives and provide financial
support to businesses who volunteer to join in environmental programs. State
management agencies need to coordinate with banks to promote the implementation
of green credit packages, giving incentives to green construction projects. Deploying
more seminars on green innovation in the construction industry, sharing experiences
and green innovation methods with businesses. Building forums, promoting learning
exchange between domestic and international businesses, between businesses and
experts. The State needs to continue improving the system of policies that is not strict
enough , reduce regulations and overlap so that businesses have clear references and
instructions. At the local level, the authorities need to pay attention to the actual
environmental performance of companies, also need to regularly check the
environmental commitments that businesses accept to comply.
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______________________
Corresponding author can be contacted at: hungnx@neu.edu.vn
1723
Appendix 1: Measurement scales used in the study
Configuration for all measurement scales

1 = strongly disagree; 2 = disagree; 3 = undecided; 4 = agree; 5 = strongly agree.
Green innovation (GI)
(1) The company chooses the materials of the product that produce the least
amount of pollution for conducting the product development or design.
(2) The company uses the fewest amounts of materials to comprise the product
for conducting the product development or design.
(3) When develop or design product, the company would circumspectly
deliberate whether the product is easy to recycle, reuse, and decompose for
conducting the product development or design.
(4) The manufacturing process of the company effectively reduces the
emission of hazardous substances or waste.
(5) The manufacturing process of the company reduces the consumption of
water, electricity, coal, or oil.
(6) The manufacturing process of the company reduces the use of raw
materials (sand, stone, cement, wood, etc.).
(7) The manufacturing process of the company uses renewable energy.
Corporate environmental ethics (CEE)
(1) The company has concrete environmental policies.
(2) The company has a budget to spend on purchases and investments that
consider environmental factors.
(3) The company has integrated its environmental plan, vision, or mission to
its marketing events.
(4) The company has integrated its environmental plan, vision, or mission to
company's culture.
Green creativity (GC)
(1) Company employees suggest new ways to achieve environmental goals.
(2) Company employees propose new green ideas to improve environmental performance.
(3) Company employees promote and champion new green ideas to colleague.
(4) Company employees implement green ideas into a comprehensive plan.
(5) Company employees would find out creative solutions to environmental problems.
1724
Green dynamic capabilities (GDC)
(1) The company has the ability that can fast monitor the environment to
identify new green opportunities.
(2) The company has the ability to develop green technology.
(3) The company has the ability to assimilate, learn, generate, combine, share,
transform, and apply new green knowledge.
(4) The company has the ability to successfully integrate and manage
specialized green knowledge within the company.
(5) The company has the ability to successfully allocate resources to develop
green innovation.
Green knowledge sharing (GKS)
(1) Employees in the company know exactly who to ask when they need
information about issues in the market.
(2) The company usually have meetings between departments to discuss
market trends and developments.
(3) The company's workspace is designed to help people easily communicate
with each other.
(4) The Company actively encourages mentoring and consultation among employees.
(5) Employees in the company often use electronic means (video, phone,
internal software, ...) to communicate with each other in the company.
(6) Company employees are expected to discuss with each other after going to
seminars, symposiums or exhibitions.
(7) Company employees share environmental knowledge read from
newspapers, magazines, television, ... with colleagues.
Pressure from regulators (PFR)
(1) Environmental protection regulations in Vietnam are very strict.
(2) Environmental protection regulations have a considerable impact on company.
(3) Environmental protection regulations can effectively deal with issues
regarding the greening of construction process.
(4) Local governments are very concerned about enterprises’ environmental practices.
(5) Local governments regard environmental performance as an important
indicator to evaluate the reputation of enterprises.
1725
Pressure from industry competitors (PFIC)
(1) The company's direct competitors set environmental standards for their
products and operations.
(2) The company's direct competitors set environmental standards for their
business strategies.
(3) Most of our competitors regard environmental performance as an
important indicator to compare with other enterprises.
(4) The company's direct competitors consider green innovation as a criterion
to improve the company's image.
(5) The company's direct competitors consider green innovation beneficial.
significant benefit compared to the cost.
1726
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CONFERENCE PROCEEDINGS

5th International Conference on Contemporary Issues in

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SESSION 1: ACCOUNTING & AUDITING

SESSION 4: BUSINESS ADMINISTRATION

SESSION 10: TOURISM

SESSION 14: EDUCATION & HUMAN RESOURCES 1

SESSION 15: EDUCATION & HUMAN RESOURCES 2

4.1.3. Exploratory Factor Analysis (EFA)

4.1.4. Correlation analysis

The sample regression equation is rewritten with the normalized regression

There are differences in green

There are differences in green

There are differences in green

Configuration for all measurement scales

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