Corporate financial performance due to sustainable development in Vietnam

Abstract

AbstractSocial responsibility and environmental sustainability issues began to be paid attention in Vietnam due to the impressive economic development in recent years. However, corporate social responsibility (CSR) is still quite a new management concept, especially for small and medium enterprises. Managers are facing multiple obstacles in executing CSR programs in accordance with international standards. Regarding corporate environmental sustainability (CES), the idea of sustainable development is a rising trend in today's business reality. Essentially, CSR is regarded as a part of the overall sustainability issues. For the purpose of studying the impact of CSR and CES on corporate financial performance (CFP), quantitative method has been used to examine the relation between CSR and CFP. Qualitative method has been applied to verify the relation between CSR, CES, and CFP. On the basis of findings, several useful suggestions are made for managers to improve business performance and sustainable development in Vietnam.