Environmental management accounting strategy: A case of cement companies

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Abstract

Environmental management accounting (EMA) involves using financial and non-financial data to improve environmental and economic performance for sustainable business (Bennett et al., 2003). It helps managers address environmental pressures, enhance reputation, and control costs (Ngoc, 2017). Despite its benefits, EMA adoption in Vietnamese cement companies is limited. This study identifies factors influencing EMA implementation, revealing that managerial awareness has the greatest impact, while accountants’ qualifications play a smaller role. To collect data, a survey was conducted involving 265 managers, accountants, and staffs from Vietnamese cement companies. Using both qualitative and quantitative approaches, the study employed Cronbach’s alpha, exploratory factor analysis (EFA), and regression analysis. The findings reveal five key factors influencing the adoption of EMA in these companies: managers’ awareness, company size, stakeholder pressure, financial resources, and the qualifications of accountants. Based on these findings, the authors propose solutions to enhance the practicality of implementing EMA in Vietnamese cement companies, aiming to improve their image and reputation while boosting operational efficiency in alignment with sustainable development goals.

Keywords: Management Strategy, Environmental, Cement Companies, Environmental Management Accounting, Vietnam

Authors’ individual contribution: Conceptualization — H.T.L.T. and H.T.N.; Methodology — H.T.L.T.; Software — H.T.L.T.; Validation — H.T.L.T. and H.T.N.; Formal Analysis — H.T.L.T.; Investigation — H.T.L.T.; Resources — H.T.L.T. and H.T.N.; Data Curation — H.T.L.T. and H.T.N.; Writing — Original Draft — H.T.L.T. and H.T.N.; Writing — Review & Editing — H.T.L.T.; Visualization — H.T.L.T. and H.T.N.; Supervision — H.T.L.T.; Project Administration — H.T.L.T.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: M40, M41, M14

Received: 11.12.2024
Revised: 01.12.2024, 11.12.2024; 28.06.2025
Accepted: 23.07.2025
Published online: 28.07.2025

How to cite this paper: Tran, H. T. L., & Nguyen, H. T. (2025). Environmental management accounting strategy: A case of cement companies. Corporate & Business Strategy Review, 6(3), 193–201. https://doi.org/10.22495/cbsrv6i3art18