Abstract
This study examines a theoretical model that explains how government policy, customer pressure, and green leadership influence sustainable development performance among agricultural SMEs in Vietnam. Circular economy practices are positioned as a mediating mechanism, while green innovation capability serves as a moderating factor, grounded in resource-based, dynamic capability, institutional, and leadership theories. Analyzing survey data from 292 firms using structural equation modeling, the results show that policy support, customer demands, and green leadership significantly enhance the adoption of circular economy practices, thereby subsequently improves sustainable performance. Green innovation capability strengthens these relationships, highlighting its role as a dynamic capability in enabling circular transformation. The study advances the literature by clarifying how institutional forces, leadership, and internal capabilities interact in the agricultural SMEs context, and offers policy implications for promoting sustainable development in emerging economies.
Keywords: Circular economy; Green innovation capability; Sustainable development performance; Agricultural economy; Emerging economy.
JEL classification: Q56, L26, Q13
DOI: 10.63767/TCKT.37.2026.19.25
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Ban biên tập Tạp chí Kinh tế & Quản trị Kinh doanh
Phòng 514, Nhà điều hành, trường Đại học Kinh tế & Quản trị Kinh doanh
Địa chỉ: Phường Tân Thịnh, thành phố Thái Nguyên
Email: tapchikt-qtkd@tueba.edu.vn; Điện thoại: 0208.3903373
