Anh Nguyen-Thi-Phuong

This study investigates the factors influencing intentions to adopt circular business models (CBMs) among businesses in Vietnam, a manufacturing hub in the region. To conduct the investigation, we developed a conceptual framework based on the behavioral theory of the firm and the resource‐based view, categorizing factors into two dimensions: financial and non‐financial. Through empirical analysis involving a survey of 291 businesses and employing partial least squares structural equation modeling (PLS‐SEM), we found that financial factors, including capital availability, expected economic benefits, and cost management competence, exert a stronger influence on the adoption of CBMs compared to non‐financial factors, such as stakeholder pressure, technology competence, and innovation competence. Furthermore, while several businesses are actively engaging in activities related to CBMs, managerial commitment towards full CBM adoption remains a prospective goal rather than an immediately actionable present reality. This study contributes in both theoretical and practical terms by addressing a critical research gap and quantifying the impact of financial and non‐financial factors on CBM adoption. Our findings offer valuable insights for businesses and policymakers, facilitating the promotion of circular economy and sustainable development.

Firms play a vital role in the transition towards a circular economy (CE). However, the number of firms implementing CE initiatives, or circular business models (CBMs—economic models based on CE principles), is currently small. In light of this, this study quantitatively assesses the critical factors that influence firms' intentions to adopt CBMs, with the theories of Planned Behavior and the Resource-based View providing the theoretical background. We applied the PLS-SEM to 321 firms and found that attitude and perceived behavioral control of firm owners/managers, as well as long-term orientation and social pressure of firms, significantly influence the intention to adopt CBMs, with perceived behavioral control emerging as the most influential factor. The findings also confirm that finance and knowledge have a crucial influence on firm owners'/managers' perceptions of the conditions necessary to undertake CBMs. Overall, then, the study provides sound policy implications and scholarly evidence to fill the relevant research gap, and in so doing contributes to ensuring a better transition towards a CE.

The extraordinary COVID‐19 outbreak has heightened the existential dangers to the informal sector. This study explores the informal sector's tactics in Vietnam for mitigating the pandemic's effects and better adapting to the new normal. Using a sustainable livelihood approach (SLA) and multivariate model for ordered choices (MVOC) to conduct surveys on 513 subjects from the informal labor, our findings indicate that financial management is the most prevalent technique for mitigating the effects of COVID‐19. Notably, the perception of the COVID‐19 pandemic's impact on income and health is crucial to the adoption of mitigation efforts. The Vietnamese government, State Bank, and financial institutions should provide more help to the informal sector, particularly those operating in remote locations so that they can increase their resilience through mitigating measures. In parallel, the informal sector should participate in more deliberate forward mitigation planning in the anticipation of inevitable future shocks.