IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/125326.html
   My bibliography  Save this paper

Linking Sustainability Practices to Financial Success: Insights from Bangladesh

Author

Listed:
  • Chowdhury, Emon

Abstract

The rapid industrialization and economic growth of Bangladesh, particularly in the ready-made garment sector, have raised significant concerns about sustainability. This study investigates how businesses and consumers in Bangladesh are incorporating sustainability into their practices and decision-making. By exploring factors influencing the adoption of these practices, their impact on financial performance, and consumer attitudes toward sustainability, the research contributes to understanding the sustainability scenario of Bangladesh. Data from 225 businesses and 639 consumers were analyzed. Findings reveal a growing emphasis on these factors among businesses, linked to improved financial outcomes. However, challenges such as consumer price sensitivity and limited knowledge about sustainability persist. While consumer awareness of sustainability is increasing, a significant segment remains willing to pay a premium for sustainable products. The study highlights the importance of businesses embracing these practices and the need for supportive policies to foster a sustainable future.

Suggested Citation

  • Chowdhury, Emon, 2025. "Linking Sustainability Practices to Financial Success: Insights from Bangladesh," MPRA Paper 125326, University Library of Munich, Germany, revised 2025.
    • Handle: RePEc:pra:mprapa:125326
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/125326/1/MPRA_paper_125326.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Waseem Akhter & Arshad Hassan, 2024. "Does corporate social responsibility mediate the relationship between corporate governance and firm performance? Empirical evidence from BRICS countries," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(1), pages 566-578, January.
    2. Nikolaos Kavadis & Niels Hermes & Jana Oehmichen & Alessandro Zattoni & Stav Fainshmidt, 2024. "Sustainable value creation in multinational enterprises: The role of corporate governance actors," Post-Print hal-04694393, HAL.
    3. Emon Kalyan Chowdhury & Shafaitun Nahar, 2017. "Perceptions of Accountants toward Sustainability Development Practices in Bangladesh," Journal of Management and Sustainability, Canadian Center of Science and Education, vol. 7(3), pages 112-119, September.
    4. Emon Kalyan Chowdhury & Umme Humaira, 2023. "The Russia–Ukraine conflict and investor psychology in financial markets," Economic Affairs, Wiley Blackwell, vol. 43(3), pages 388-405, October.
    5. Edward Freeman, R. & Phillips, Robert A., 2002. "Stakeholder Theory: A Libertarian Defense," Business Ethics Quarterly, Cambridge University Press, vol. 12(3), pages 331-349, July.
    6. Yihua Wu & Muhammad Farrukh & Ali Raza & Fanchen Meng & Imtiaz Alam, 2021. "Framing the evolution of the corporate social responsibility and environmental management journal," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(4), pages 1397-1411, July.
    7. Qamar Farooq & Peihua Fu & Xuan Liu & Yunhong Hao, 2021. "Basics of macro to microlevel corporate social responsibility and advancement in triple bottom line theory," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(3), pages 969-979, May.
    8. Rahman, Md. Hasanur & Tanchangya, Tipon & Rahman, Junaid & Aktar, Most. Asikha & Majumder, Shapan Chandra, 2024. "Corporate social responsibility and green financing behavior in Bangladesh: Towards sustainable tourism," Innovation and Green Development, Elsevier, vol. 3(3).
    9. Muhammad Azizuddin & Ahm Shamsuzzoha & Sujan Piya, 2021. "Influence of Circular Economy Phenomenon to Fulfil Global Sustainable Development Goal: Perspective from Bangladesh," Sustainability, MDPI, vol. 13(20), pages 1-16, October.
    10. Barbara Sypniewska & Małgorzata Baran & Monika Kłos, 2023. "Work engagement and employee satisfaction in the practice of sustainable human resource management – based on the study of Polish employees," International Entrepreneurship and Management Journal, Springer, vol. 19(3), pages 1069-1100, September.
    11. Kavadis, Nikolaos & Hermes, Niels & Oehmichen, Jana & Zattoni, Alessandro & Fainshmidt, Stav, 2024. "Sustainable value creation in multinational enterprises: The role of corporate governance actors," Journal of World Business, Elsevier, vol. 59(1).
    12. Sheehan, Norman T. & Vaidyanathan, Ganesh & Fox, Kenneth A. & Klassen, Mark, 2023. "Making the invisible, visible: Overcoming barriers to ESG performance with an ESG mindset," Business Horizons, Elsevier, vol. 66(2), pages 265-276.
    13. O'Dwyer, Brendan & Humphrey, Chris & Rowbottom, Nick, 2024. "From institutional integration to institutional demise: The disintegration of the International Integrated Reporting Council (IIRC)," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 99(C).
    14. Rhodes, Ekaterina & Scott, William A. & Jaccard, Mark, 2021. "Designing flexible regulations to mitigate climate change: A cross-country comparative policy analysis," Energy Policy, Elsevier, vol. 156(C).
    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. Hasan, Amena & Nahar, Kamrun & Akhter, Suraiya, 2024. "Cryptocurrency Scams: A Multi-Pronged Approach to Mitigating Risks Through Regulation, Enforcement, and Consumer Education," MPRA Paper 121215, University Library of Munich, Germany, revised 31 Jan 2024.
    2. Chowdhury, Emon, 2023. "The Impact of Commodity Market on the Economy of Developing Countries," MPRA Paper 119462, University Library of Munich, Germany, revised 05 Dec 2023.
    3. Joise, Topu & Goenka, Narsimha & Wangyel, Sangay & Shaturaev, Jakhongir, 2023. "Transforming Mobility Exploring the Impact and Challenges of Intelligent Transportation Systems in Asia," MPRA Paper 118994, University Library of Munich, Germany, revised 11 Sep 2023.
    4. Patel, Rajesh & Khan, Fatima & Silva, Buddhika & Shaturaev, Jakhongir, 2023. "Unleashing the Potential of Artificial Intelligence in Auditing: A Comprehensive Exploration of its Multifaceted Impact," MPRA Paper 119616, University Library of Munich, Germany, revised 05 Dec 2023.
    5. Chowdhury, Emon Kalyan, 2024. "Role of Stock Exchanges in Regional Economic Progress: A South Asia Perspective," MPRA Paper 123002, University Library of Munich, Germany, revised 08 Dec 2024.
    6. Chowdhury, Emon Kalyan, 2024. "Dual Disruptions: An Evaluation of the Economic Fallout from the COVID-19 Pandemic and Russia-Ukraine Conflict on Bangladesh's Economy and Stock Market," MPRA Paper 120762, University Library of Munich, Germany, revised 18 Apr 2024.
    7. Chowdhury, Emon Kalyan, 2024. "Capital Market Governance in Bangladesh: A Cornerstone for Growth," MPRA Paper 121664, University Library of Munich, Germany, revised 04 May 2024.
    8. Chowdhury, Emon, 2024. "Overcoming Traditional Constraints: Strategies for Fostering an Inclusive Entrepreneurial Ecosystem in Bangladesh," MPRA Paper 124873, University Library of Munich, Germany, revised 27 Apr 2025.
    9. Uluyol, Burhan & Hui Pu, Suan & Shaturaev, Jakhongir & Kanaparan, Geetha, 2023. "Cracking the Code of Market Secrets: A Deep Dive into Financial Anomalies," MPRA Paper 119039, University Library of Munich, Germany, revised 05 Oct 2023.
    10. Silva, Buddhika & Hasan, Amena, 2023. "Beyond the Glass Ceiling: How Women Leaders Drive Innovation and Performance in Top Management," MPRA Paper 120388, University Library of Munich, Germany, revised 13 Oct 2023.
    11. Hasan, Amena, 2023. "Amalgamation of Commercial Banks in Bangladesh: A Study on its Impact and Implications," MPRA Paper 120830, University Library of Munich, Germany, revised 10 Mar 2024.
    12. Hasan, Amena & Dowla, Asif-Ud & Tarannum, Ramisa, 2024. "Financial Inclusion and Economic Growth in Developing Nations: A Case Study of Bangladesh," MPRA Paper 120213, University Library of Munich, Germany, revised 08 Feb 2024.
    13. Khanam, Rifat Binte & Rabeya, Jannatul Ferdous & Hasan, Amena, 2024. "Building Trust, Fueling Growth: The Cornerstone Role of Capital Market Governance in Bangladesh," MPRA Paper 121449, University Library of Munich, Germany, revised 08 May 2024.
    14. Hoang, Nga & Zhen, Zhao & Shaturaev, Jakhongir, 2023. "Decolonizing Development: Unpacking Post-Colonialism in South Asia," MPRA Paper 119245, University Library of Munich, Germany, revised 21 Nov 2023.
    15. Nahar, Kamrun & Akhter, Suraiya & Shaturaev, Jakhongir, 2024. "Impact of Artificial Intelligence on the Human Resources Management," MPRA Paper 120579, University Library of Munich, Germany, revised 08 Feb 2024.
    16. Hasan, Amena & Hasan, Kamrul & Haque, Sumaia, 2025. "Evaluating Environmental Sustainability in Manufacturing: A Multi-Criteria Analysis of Chittagong's Industrial Sector," MPRA Paper 123414, University Library of Munich, Germany, revised 20 Jan 2025.
    17. Carrilho-Nunes, Inês & Catalão-Lopes, Margarida, 2022. "The effects of environmental policy and technology transfer on GHG emissions: The case of Portugal," Structural Change and Economic Dynamics, Elsevier, vol. 61(C), pages 255-264.
    18. Pies, Ingo & Hielscher, Stefan & Beckmann, Markus, 2008. "Corporate citizenship as stakeholder management: An ordonomic approach to business ethics," Discussion Papers 2008-4, Martin Luther University of Halle-Wittenberg, Chair of Economic Ethics.
    19. Wang, Xiaoteng & Zhou, Bole & Li, Xiaoling, 2025. "Qualified foreign institutional investors and corporate ESG performance: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 101(C).
    20. Danny Zhao‐Xiang Huang, 2022. "An integrated theory of the firm approach to environmental, social and governance performance," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(S1), pages 1567-1598, April.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • F0 - International Economics - - General
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics
    • P4 - Political Economy and Comparative Economic Systems - - Other Economic Systems

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    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:pra:mprapa:125326. 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: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    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.