IDEAS home Printed from
   My bibliography  Save this article

Behavioral Intentions of Bank Employees to Implement Green Finance


  • Hung-Yu Chen

    (Department of Finance, Chaoyang University of Technology, Taichung 413310, Taiwan)

  • Raofeng Guo

    (Faculty of Professional Finance and Accountancy, Shanghai Business School, Shanghai 200235, China)

  • Chin-Chao Hung

    (Department of Finance, Chang Jung Christian University, Tainan 711301, Taiwan)

  • Zong-Han Lin

    (Department of Finance, Chaoyang University of Technology, Taichung 413310, Taiwan)

  • Mengshan Wu

    (School of Finance, Central University of Finance and Economics, Beijing 102206, China)


To understand the behavioral intentions of bank employees to implement green finance, this study explores the impact of attitude, subjective norm, and perceived behavioral control on behavioral intention based on the theory of planned behavior. In addition, this study also examines whether internal measures have moderating effects on the relationship between attitude, subjective norm, perceived behavioral control, and behavioral intention. By collecting 123 questionnaires from 18 September 2022 to 18 October 2022, this study uses hierarchical regression to discuss the aforementioned issues. In order to avoid the possible bias of the regression model, the variance inflation factor (VIF) is applied to detect multicollinearity problems. The empirical results of this study find that bank employees’ attitudes, subjective norms, perceived behavioral control, and internal measures to implement green finance have a significant and positive impact on behavioral intention. In addition, the coefficients of VIF in all regression models are smaller than 10, indicating that the multicollinearity problems are not serious in this study. Therefore, our inferences are not affected by correlations between independent variables in the regression model. The research finding also shows that the interaction effects of internal measures and attitude, subjective norm, and perceived behavioral control do not have a positive moderating effect on behavioral intention. The implications of this study are that it can be provided as a reference for the banking industry to help them to improve the comprehensive thinking of employees in the implementation of green financial behavioral intentions.

Suggested Citation

  • Hung-Yu Chen & Raofeng Guo & Chin-Chao Hung & Zong-Han Lin & Mengshan Wu, 2023. "Behavioral Intentions of Bank Employees to Implement Green Finance," Sustainability, MDPI, vol. 15(15), pages 1-20, July.
  • Handle: RePEc:gam:jsusta:v:15:y:2023:i:15:p:11717-:d:1205799

    Download full text from publisher

    File URL:
    Download Restriction: no

    File URL:
    Download Restriction: no

    References listed on IDEAS

    1. Md. Mahiuddin Sabbir & Khan Md Raziuddin Taufique, 2022. "Sustainable employee green behavior in the workplace: Integrating cognitive and non‐cognitive factors in corporate environmental policy," Business Strategy and the Environment, Wiley Blackwell, vol. 31(1), pages 110-128, January.
    2. Parvez Alam Khan & Satirenjit Kaur Johl & Shakeb Akhtar, 2021. "Firm Sustainable Development Goals and Firm Financial Performance through the Lens of Green Innovation Practices and Reporting: A Proactive Approach," JRFM, MDPI, vol. 14(12), pages 1-23, December.
    3. Faiq Aziz & Ahmad Aizuddin Md Rami & Zeinab Zaremohzzabieh & Seyedali Ahrari, 2021. "Effects of Emotions and Ethics on Pro-Environmental Behavior of University Employees: A Model Based on the Theory of Planned Behavior," Sustainability, MDPI, vol. 13(13), pages 1-17, June.
    4. Bouarar, Ahmed Chemseddine & Mouloudj, kamel, 2021. "Using the Theory of Planned Behavior to Explore Employees Intentions to Implement Green Practices," MPRA Paper 106195, University Library of Munich, Germany.
    5. Chen, Shih-Chih & Hung, Chung-Wen, 2016. "Elucidating the factors influencing the acceptance of green products: An extension of theory of planned behavior," Technological Forecasting and Social Change, Elsevier, vol. 112(C), pages 155-163.
    6. Ali Saleh Alshebami, 2021. "Evaluating the relevance of green banking practices on Saudi Banks’ green image: The mediating effect of employees’ green behaviour," Journal of Banking Regulation, Palgrave Macmillan, vol. 22(4), pages 275-286, December.
    7. Ajzen, Icek, 1991. "The theory of planned behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 50(2), pages 179-211, December.
    8. Gamel, Johannes & Bauer, Andreas & Decker, Thomas & Menrad, Klaus, 2022. "Financing wind energy projects: An extended theory of planned behavior approach to explain private households’ wind energy investment intentions in Germany," Renewable Energy, Elsevier, vol. 182(C), pages 592-601.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hsu, Chia-Lin & Chang, Chi-Ya & Yansritakul, Chutinart, 2017. "Exploring purchase intention of green skincare products using the theory of planned behavior: Testing the moderating effects of country of origin and price sensitivity," Journal of Retailing and Consumer Services, Elsevier, vol. 34(C), pages 145-152.
    2. Joachim P. Hasebrook & Leonie Michalak & Anna Wessels & Sabine Koenig & Stefan Spierling & Stefan Kirmsse, 2022. "Green Behavior: Factors Influencing Behavioral Intention and Actual Environmental Behavior of Employees in the Financial Service Sector," Sustainability, MDPI, vol. 14(17), pages 1-35, August.
    3. Taneja, Shilpa & Ali, Liaqat, 2021. "Determinants of customers’ intentions towards environmentally sustainable banking: Testing the structural model," Journal of Retailing and Consumer Services, Elsevier, vol. 59(C).
    4. Mashaal A. M. Saif & Nazimah Hussin & Maizaitulaidawati Md Husin & Ayed Alwadain & Ayon Chakraborty, 2022. "Determinants of the Intention to Adopt Digital-Only Banks in Malaysia: The Extension of Environmental Concern," Sustainability, MDPI, vol. 14(17), pages 1-32, September.
    5. Ali Saleh Alshebami, 2023. "Green Innovation, Self-Efficacy, Entrepreneurial Orientation and Economic Performance: Interactions among Saudi Small Enterprises," Sustainability, MDPI, vol. 15(3), pages 1-18, January.
    6. Ruben van der Sluijs & Gilbert Silvius, 2023. "Exploring the Values of a Sustainable Project Manager," Sustainability, MDPI, vol. 15(10), pages 1-22, May.
    7. Diana Puspita Sari & Nur Aini Masruroh & Anna Maria Sri Asih, 2021. "Consumer Intention to Participate in E-Waste Collection Programs: A Study of Smartphone Waste in Indonesia," Sustainability, MDPI, vol. 13(5), pages 1-28, March.
    8. Alvino, Letizia & Dangelico, Rosa Maria, 2022. "Investigating the antecedents of consumer behavioral intention for sustainable fashion products: Evidence from a large survey of Italian consumers," Other publications TiSEM ed6b6a75-2a9f-4b6e-8076-9, Tilburg University, School of Economics and Management.
    9. Wenqing Zhang & Liangliang Liu, 2022. "How consumers’ adopting intentions towards eco-friendly smart home services are shaped? An extended technology acceptance model," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 68(2), pages 307-330, April.
    10. Nekmahmud, Md. & Naz, Farheen & Ramkissoon, Haywantee & Fekete-Farkas, Maria, 2022. "Transforming consumers' intention to purchase green products: Role of social media," Technological Forecasting and Social Change, Elsevier, vol. 185(C).
    11. Xu, Zeshui & Ge, Zijing & Wang, Xinxin & Skare, Marinko, 2021. "Bibliometric analysis of technology adoption literature published from 1997 to 2020," Technological Forecasting and Social Change, Elsevier, vol. 170(C).
    12. Carl Marnewick & Gilbert Silvius & Ron Schipper, 2019. "Exploring Patterns of Sustainability Stimuli of Project Managers," Sustainability, MDPI, vol. 11(18), pages 1-17, September.
    13. Fraccascia, Luca & Ceccarelli, Gaia & Dangelico, Rosa Maria, 2023. "Green products from industrial symbiosis: Are consumers ready for them?," Technological Forecasting and Social Change, Elsevier, vol. 189(C).
    14. Leibao Zhang & Yanli Fan & Wenyu Zhang & Shuai Zhang, 2019. "Extending the Theory of Planned Behavior to Explain the Effects of Cognitive Factors across Different Kinds of Green Products," Sustainability, MDPI, vol. 11(15), pages 1-17, August.
    15. Rakesh Kumar & Kishore Kumar & Rubee Singh & José Carlos Sá & Sandro Carvalho & Gilberto Santos, 2023. "Modeling Environmentally Conscious Purchase Behavior: Examining the Role of Ethical Obligation and Green Self-Identity," Sustainability, MDPI, vol. 15(8), pages 1-16, April.
    16. Verma, Vivek Kumar & Chandra, Bibhas & Kumar, Sumit, 2019. "Values and ascribed responsibility to predict consumers' attitude and concern towards green hotel visit intention," Journal of Business Research, Elsevier, vol. 96(C), pages 206-216.
    17. Yu Wang & Shanyong Wang & Jing Wang & Jiuchang Wei & Chenglin Wang, 2020. "An empirical study of consumers’ intention to use ride-sharing services: using an extended technology acceptance model," Transportation, Springer, vol. 47(1), pages 397-415, February.
    18. Wei Zheng & Hongliang Qiu & Alastair M. Morrison & Wei Wei & Xihua Zhang, 2022. "Landscape and Unique Fascination: A Dual-Case Study on the Antecedents of Tourist Pro-Environmental Behavioral Intentions," Land, MDPI, vol. 11(4), pages 1-20, March.
    19. Tuğba Yeğin & Muhammad Ikram, 2022. "Analysis of Consumers’ Electric Vehicle Purchase Intentions: An Expansion of the Theory of Planned Behavior," Sustainability, MDPI, vol. 14(19), pages 1-27, September.
    20. Jana Hojnik & Mitja Ruzzier & Tatiana S. Manolova, 2020. "Sustainable development: Predictors of green consumerism in Slovenia," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(4), pages 1695-1708, July.


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:15:y:2023:i:15:p:11717-:d:1205799. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.