THE IMPACT OF CIRCULAR ECONOMY PRACTICES ON THE ENVIRONMENTAL PILLAR OF SUSTAINABLE DEVELOPMENT: EXPERIMENTAL EVIDENCES FROM VIETNAMESE MANUFACTURING SMALL AND MEDIUM-SIZED ENTERPRISES

Tóm tắt

This study employs a multiple linear regression model to examine the relationship between circular economy (CE) practices-based on a five-phase CE framework-and environmental performance (EP), a core pillar of sustainable development, among small and medium-sized enterprises in Vietnam. The results indicate that most CE stages have positive effects on EP, with the exception of the resource extraction stage, which shows no significant impact. Notably, sustainable consumption exerts a negative influence. Capital sufficiency, used as a control variable, also contributes positively. These findings highlight the uneven impact of CE implementation across stages and emphasize the need for more tailored, contextspecific policy strategies for small and medium-sized enterprises in Vietnam.