EXPLORING THE IMPLEMENTATION AND OBSTACLES OF SUSTAINABILITY ACCOUNTING PRACTICES IN VIETNAMESE SMEs
DOI:
https://doi.org/10.15282/ijim.18.3.2024.11193Keywords:
Environmental, Social, and Governance (ESG), Sustainability Accounting, Sustainability Accounting Practices, SMEsAbstract
Sustainability accounting has gained global prominence as more businesses are recognising the need to integrate environmental, social, and economic considerations into their decision-making processes. In the context of Vietnam where small and medium-sized enterprises (SMEs) form the backbone of the economy, understanding how these enterprises adopt and grapple with sustainability accounting practices is crucial for advancing sustainable development goals. This study examines the implementation of sustainability accounting practices in Vietnamese SMEs. The Archival method was employed involving a literature review and case studies, shedding light on the current state, drivers, barriers, and potential solutions of sustainability accounting among Vietnamese SMEs. The results contribute to keywords related to sustainability accounting practices in research, motivate SMEs to adopt and implement environmental, social, and governance (ESG) factors, and call for regulatory and policy measures by relevant stakeholders.
References
Adams, C. A. (2015). The international integrated reporting council: a call to action. Critical Perspectives on Accounting, 27, 23-28.
Ahmad, H., Yaqub, M., & Lee, S. H. (2024). Environmental-, social-, and governance-related factors for business investment and sustainability: A scientometric review of global trends. Environment, Development and Sustainability, 26(2), 2965-2987.
Ascani, I., Ciccola, R., & Chiucchi, M. S. (2021). A structured literature review about the role of management accountants in sustainability accounting and reporting. Sustainability, 13(4), 2357.
Bakos, J., Siu, M., Orengo, A., & Kasiri, N. (2020). An analysis of environmental sustainability in small & medium‐sized enterprises: Patterns and trends. Business Strategy and the Environment, 29(3), 1285-1296.
Burritt, R. L., & Schaltegger, S. (2010). Sustainability accounting and reporting: fad or trend? Accounting, Auditing & Accountability Journal, 23(7), 829-846.
Ceglia, I., Battaglia, M., & Annesi, N. (2022). Sinergie-SIMA 2022 Management Conference Boosting knowledge & trust for a sustainable business. Sinergie, 491-497.
Centobelli, P., Cerchione, R., Esposito, E., & Passaro, R. (2021). Determinants of the transition towards circular economy in SMEs: A sustainable supply chain management perspective. International Journal of Production Economics, 242, 108297.
Chen, J., & Liu, L. (2018). Profiting from Green Innovation: The Moderating Effect of Competitive Strategy. Sustainability, 11(1), 15. https://doi.org/10.3390/su11010015
Costa, A. J., Curi, D., Bandeira, A. M., Ferreira, A., Tomé, B., Joaquim, C., Santos, C., Góis, C., Meira, D., & Azevedo, G. (2022). Literature review and theoretical framework of the evolution and interconnectedness of corporate sustainability constructs. Sustainability, 14(8), 4413.
Das, M., Rangarajan, K., & Dutta, G. (2020). Corporate sustainability in SMEs: an Asian perspective. Journal of Asia Business Studies, 14(1), 109-138.
Datar, V., Emm, E. E., & Han, B. (2024). Performance of ESG SPACs. Managerial Finance, 50(1), 198-227.
De, D., Chowdhury, S., Dey, P. K., & Ghosh, S. K. (2020). Impact of lean and sustainability oriented innovation on sustainability performance of small and medium sized enterprises: a data envelopment analysis-based framework. International Journal of Production Economics, 219, 416-430.
Ekaterina, L. (2022). Do CEO Behavior Biases and Personal Traits Influence ESG Performance? The Evidence from Emerging Capital Market of Russia. Корпоративные финансы, 16(4), 72-92.
Garde Sanchez, R., Flórez-Parra, J. M., López-Pérez, M. V., & López-Hernández, A. M. (2020). Corporate governance and disclosure of information on corporate social responsibility: An analysis of the top 200 universities in the shanghai ranking. Sustainability, 12(4), 1549.
Ghardallou, W., & Alessa, N. (2022). Corporate social responsibility and firm performance in GCC countries: A panel smooth transition regression model. Sustainability, 14(13), 7908.
Giunipero, L. C., Hooker, R. E., & Denslow, D. (2012). Purchasing and supply management sustainability: Drivers and barriers. Journal of purchasing and supply management, 18(4), 258-269.
Glaveli, N. (2020). Corporate social responsibility toward stakeholders and customer loyalty: Investigating the roles of trust and customer identification with the company. Social Responsibility Journal, 17(3), 367-383.
Habib, A. M. (2022). Does the efficiency of working capital management and environmental, social, and governance performance affect a firm’s value? Evidence from the United States. Financial Markets, Institutions and Risks (FMIR), 6(3), 18-25.
Hogan, B., & Reid, C. (2022). The impact of stakeholder management on restatement disclosure transparency. Review of Accounting and Finance, 21(3), 174-203.
Hu, M. K., & Kee, D. M. H. (2022). Fostering sustainability: reinventing SME strategy in the new normal. Foresight, 24(3/4), 301-318.
Kaur, A., & Lodhia, S. K. (2019). Sustainability accounting, accountability and reporting in the public sector: An overview and suggestions for future research. Meditari Accountancy Research, 27(4), 498-504.
Manzoor, F., Wei, L., Nurunnabi, M., & Abdul Subhan, Q. (2019). Role of SME in poverty alleviation in SAARC region via panel data analysis. Sustainability, 11(22), 6480.
Mathur, S., & Khanna, K. (2017). Sustainability practices as a competitive edge in five star hotels of Delhi: a study on manager’s perception. International Research Journal of Management, IT and Social Sciences (IRJMIS), 1(1), 1-8.
Munoz, E., Zhao, L., & Yang, D. C. (2017). Issues in sustainability accounting reporting. Accounting and Finance Research, 6(3), 1-64.
Navarro López, V. (2021). A sustainability overview of the supply chain management in textile industry. International Journal of Trade, Economics and Finance, 11(5), 92-97.
Nguyen, H. T., Ramayah, T., Kweh, Q. L., Tran, P. T. K., & Minh, H. T. D. (2024). Determinants of accounting information system effectiveness and moderating role of external consultants: Empirical research in the Ben Tre Province of Vietnam. Heliyon, 10(7).
Nguyen, N. T. T., Nguyen, N. P., & Hoai, T. T. (2021). Ethical leadership, corporate social responsibility, firm reputation, and firm performance: A serial mediation model. Heliyon, 7(4).
Nguyen, Q. C. (2018). Improving efficiency and productivity growth of manufacturing SMEs: Evidence from Vietnam. (Doctoral dissertation).
Olazo, D. B. (2023). Marketing competency, marketing innovation and sustainable competitive advantage of small and medium enterprises (SMEs): a mixed-method analysis. Asia Pacific Journal of Marketing and Logistics, 35(4), 890-907.
Ozili, P. K. (2022). Green finance research around the world: a review of literature. International Journal of Green Economics, 16(1), 56-75.
Pelsa, I., Pelsa, I., & Balina, S. (2020). Sustainability Theory: A Review of Key Ideas for Sustainability and green procurement context. Global Conference on Business and Social Sciences Proceeding, 11(1), 135-135.
Pereira, C., Monteiro, A. P., Barbosa, F., & Coutinho, C. (2021). Environmental sustainability disclosure and accounting conservatism. International Journal of Advanced and Applied Sciences, 8(9), 63-74.
Saudelli, M. G., & Niemczyk, E. (2022). Education for sustainable development: Insights from Canadian and South African universities. Perspectives in Education, 40(3), 47-61.
Schaltegger, S., Etxeberria, I. Á., & Ortas, E. (2017). Innovating corporate accounting and reporting for sustainability–attributes and challenges. Sustainable Development, 25(2), 113-122.
Slager, R., Gond, J.-P., & Moon, J. (2012). Standardization as institutional work: The regulatory power of a responsible investment standard. Organization Studies, 33(5-6), 763-790.
Suarez, B., & Vargas, A. (2021). Innovation Management, from Materiality Assessment to Sustainability Reporting, opening the Social Impact Black Box. SocioEconomic Challenges, 5(1), 13–27.
Ventresca, M. J., & Mohr, J. W. (2017). Archival research methods. The Blackwell companion to organizations, 805-828.
Wang, S., & Huang, L. (2022). A study of the relationship between corporate culture and corporate sustainable performance: evidence from Chinese SMEs. Sustainability, 14(13), 7527.
Yang, X., & Han, Q. (2024). Nonlinear effects of enterprise digital transformation on environmental, social and governance (ESG) performance: evidence from China. Sustainability Accounting, Management and Policy Journal, 15(2), 355-381.
Zaccone, M. C., Santhià, C., & Bosone, M. (2022). How hybrid organizations adopt circular economy models to foster sustainable development. Sustainability, 14(5), 2679.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 The Author(s)
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
