Determinants of Public Investment in Green Hospital Buildings in Vietnam: An Integrated Theoretical Approach

Abstract

Green Hospital Buildings (GHBs) are pivotal for achieving sustainable development goals in the construction sector, yet their adoption in developing economies, particularly in the public sector, remains modest. This study investigates the critical determinants of public investment decisions for GHBs in Vietnam. The research is grounded in an integrated Technology-Organization-Environment (TOE) framework, synthesized with the Resource-Based View (RBV), Resource Dependence Theory (RDT), and Diffusion of Innovation (DOI) theory. Data collected from 172 experts and managers in the Vietnamese healthcare and construction sectors were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results reveal that institutional drivers—specifically legal frameworks, supportive government policies, and institutional leadership/capacity—along with construction industry readiness and perceived advantages, are the primary propellants of GHB investment. Interestingly, perceived disadvantages and broad socio-economic conditions were not found to be statistically significant barriers. These findings suggest that fostering GHB development in emerging markets requires a strategic shift from mitigating perceived drawbacks to strengthening institutional mandates and supply chain capabilities.