The Intervention of Corporate Social Responsibility to Corporate Sustainable Development: Green Innovation and Environment Strategy’s Mediation Role

Abstract

As the economy is advancing by leaps and bounds, the top priority has been given to managing a green-oriented enterprise due to its significance in the lasting ability and sustainability of the organization. This study examines the relationship between corporate sustainable development and corporate social responsibility by finding out the mediating role of environment strategy and green innovation in the food sector of Vietnamese SMEs contexts. This research applied quantitative methods to check the research hypotheses by utilizing a questionnaire to gather data. The valid results are 458 surveys. The data was analyzed using PLS-SEM version 3.3.9. To investigate the connections between the model's latent variables in the model, Structural Equation Modeling (SEM) is applied to this study. Our findings reveal significant and positive relationships between corporate sustainable development and corporate social responsibility by finding out the intermediary role of environment strategy and green innovation, adding value to the current knowledge by exploring the mediating effect of environment strategy and green innovation between CSR and corporate sustainable development in the emerging market. The result shows that corporate social responsibility has a direct impact on corporate sustainable development but it is affected through environmental strategy, and green innovation depending on the size of the data. This demonstrates that corporate social responsibility has an impact and can make managers change their environmental strategies. Our research provides a reference model for managers to help them have appropriate and correct environmental strategies to assist companies in growing more sustainably in the marketplace.