VIETNAM NATIONAL UNIVERSITY – HO CHI MINH CITY

UNIVERSITY OF ECONOMICS AND LAW

FINAL REPORT

STUDENT SCIENTIFIC RESEARCH PROJECT

YEAR 2024

Research Topic

SUSTAINABLE BEAUTY INDUSTRY:

THE ROLE OF GREENWASHING PERCEPTION AND BLOCKCHAIN

Supervisor: Lê Thị Hải Yến, Ph.D.

Student research team
TT Full name Student ID Department Phone No Email
Assignment
1. Nguyễn Từ K214101938 Business Leader 0782642326 quyennt21410ca@
Quyên Administration st.uel.edu.vn
2. Phạm Nguyễn K224101334 Business Member 0978547391 nhupnu22410c@st
Uyên Như Administration .uel.edu.vn
3. Lê Quang K214111962 Information Member 0835200142 tailqt21411c@st.u
Thành Tài Systems el.edu.vn
4. Trần Diễm K214040332 Banking and Member 0376006512 quynhtd21404ca@
Quỳnh Finance st.uel.edu.vn

Ho Chi Minh City, March 2024

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Tóm tắt tiếng việt

Nghiên cứu này tập trung vào sự tác động của niềm tin thương hiệu đến ý định mua hàng
xanh, đồng thời khám phá ảnh hưởng của blockchain và Greenwashing Perception đối với
niềm tin và ý định mua hàng xanh của người tiêu dùng. Trước đây, việc mối quan tâm đối
với môi trường và sự chú ý đặt ra cho các thương hiệu xanh đã làm cho niềm tin thương
hiệu trở thành yếu tố quyết định trong quá trình quyết định mua hàng xanh. Phương pháp
nghiên cứu của chúng tôi kết hợp khảo sát trực tuyến để thư thập dữ liệu sơ cấp, phân tích
niềm tin với nhãn hàng, đánh giá chi tiết tác động của blockchain và Greenwashing
Perception đến quyết định mua hàng của người tiêu dùng thông qua việc khai phá dữ liệu
và đo lường mức độ ảnh hưởng của các yếu tố đến ý định mua hàng xanh.

Kết quả của nghiên cứu đã làm rõ tầm quan trọng của niềm tin thương hiệu trong quá
trình quyết định mua hàng xanh. Tuy nhiên, việc thực hiện Greenwashing Perception có
thể đảo ngược tình hình và làm giảm niềm tin, ảnh hưởng đến ý định mua hàng xanh của
người tiêu dùng.

Kết luận của chúng tôi là cần thiết phải xây dựng chiến lược tiếp thị xanh chân thực và
minh bạch, sử dụng blockchain để đảm bảo tính trung thực của thông tin môi trường.
Điều này sẽ giúp tăng cường niềm tin từ phía khách hàng và thúc đẩy ý định mua hàng
xanh, đồng thời giúp tránh xa khỏi tác động tiêu cực của Greenwashing Perception trong
môi trường kinh doanh ngày nay.
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TABLE OF CONTENTS
LIST OF TABLES .............................................................................................................. 5

TABLE OF FIGURES ........................................................................................................6

ABBREVIATIONS INDEX ............................................................................................... 7

Abstract ................................................................................................................................ 9

CHAPTER 1: INTRODUCTION ................................................................................... 10

1.1. Background .......................................................................................................... 10

1.2. Rationale ...............................................................................................................11

1.3. Reasons for Choosing the Research Topic .........................................................14

1.4. Research objectives and Scope. ........................................................................... 16

1.5. Research question. ................................................................................................. 17

CHAPTER 2: LITERATURE REVIEW ....................................................................... 18

2.1. Overview ................................................................................................................. 18

2.2. The importance of Green Brand Trust in the sustainable beauty industry ....21

2.2.1. Theoretical framework .......................................................................................21

2.3. Factors affecting green purchase intention .........................................................27

2.3.1. The impact of Greenwashing Perception ..................................................... 28

2.3.2. The role of blockchain dimensions ................................................................29

2.4. Conceptual framework ..........................................................................................30

CHAPTER 3: METHODOLOGY .................................................................................. 33

3.1. Research design ......................................................................................................33

3.1.1 Quantitative Method ....................................................................................... 33

3.1.2. Research design ..............................................................................................34

3.2. Formation of Measurement scale .........................................................................35

3.2.1. Research sample ..............................................................................................35

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3.2.2. Measurement scale ..........................................................................................36

3.3. Data collection and Questionnaires ..................................................................... 38

3.3.1. Questionnaires .................................................................................................38

3.4. Data analysis method .............................................................................................38

3.4.2. Cronbach's Alpha and EFA .......................................................................... 39

3.4.3. Moderating variable ....................................................................................... 41

CHAPTER 4: RESULTS ................................................................................................. 43

4.1. Descriptive statistic results ....................................................................................43

4.1.1. Descriptive statistics of the sample ..........................................................43

4.1.2. Descriptive Statistics of Likert Scale ...................................................... 45

4.2. Analysis of Cronbach's Alpha Coefficient .......................................................... 46

4.3. Exploratory Factor Analysis (EFA) .....................................................................47

4.3.1. Exploratory Factor Analysis (EFA) with Independent Variables ............ 47

4.3.2. Exploratory Factor Analysis (EFA) with Dependent Variables ............... 49

4.4. Multiple linear regression analysis ...................................................................... 50

4.4.1 Check the correlation coefficient between variables ................................... 50

4.4.2. Regression model selection ............................................................................ 51

4.4.3. Determining the importance of variables in the model .............................. 52

4.4.4. Evaluation and Testing Model Fit ................................................................ 53

4.5. Results of Moderating Variables Analysis .......................................................... 56

4.6 Discussions ............................................................................................................... 58

4.6.1 Contributions to Theoretical Field ................................................................ 58

4.6.2 Contributions to Practice ................................................................................59

CHAPTER 5: CONLUSION AND MANAGERICAL IMPLICATIONS ................. 61

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5.1. Theoretical implications ........................................................................................ 61

5.2. Managerial implications ........................................................................................63

5.3. Limitations and future research ...........................................................................64

5.4. Conclusion ...............................................................................................................65

REFERENCES ..................................................................................................................68

APPENDICES ................................................................................................................... 78

APPENDIX 1: OFFICIAL SURVEY QUESTIONNAIRE ......................................78

APPENDIX 2: FREQUENCY STATISTICS FOR DEMOGRAPHIC

VARIABLES ................................................................................................................. 83

APPENDIX 3: DESCRIPTIVE STATISTICS .......................................................... 87

APPENDIX 4: THE RESULT OF CRONBACH'S ALPHA TEST FOR SCALE

RELIABILITY .............................................................................................................. 88

APPENDIX 5: RESULTS OF EXPLORATORY FACTOR ANALYSIS (EFA)

FOR THE INDEPENDENT VARIABLE AND MODERATOR ............................91

APPENDIX 6: PEARSON CORRELATION ANALYSIS ...................................... 94

APPENDIX 7: REGRESSION ANALYSIS (BT -> PI) ............................................95

APPENDIX 8: MODERATION ANALYSIS (AMOS)Error! Bookmark not

defined.
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LIST OF TABLES

Table 1: The scale developed for the four main factors of the research model. ........ 36

Table 2: Descriptive statistics of the demographic characteristics of the study sample.

............................................................................................................................................. 43

Table 3. Official Results of the Proposed Research Model's Cronbach's Alpha

Coefficients. ........................................................................................................................47

Table 4. Results of the Exploratory Factor Analysis (EFA) for the Independent
Variables .............................................................................................................................48

Table 5: Results of the Exploratory Factor Analysis (EFA) for Dependent Variables
............................................................................................................................................. 49

Table 6: Correlation coefficient matrix between variables ..........................................50

Table 7: Results of Regression Analysis ......................................................................... 52

Table 8: Summary of factors that necessary in regression analysis ............................53

Table 9: F-test for Regression Analysis .......................................................................... 54

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TABLE OF FIGURES

Figure 1: Sustainability means different things to people (NIQ 2023 Sustainability

Report. Q) .......................................................................................................................... 18

Figure 2: The Theory of planned behavior (TPB) ........................................................ 24

Figure 3: Technology acceptance model (Partially adapted from Davis et al. (1989))
............................................................................................................................................. 25

Figure 4: How do environmental values impact green product purchase intention?

(The moderating role of green trust (Li et al., 2021)) ................................................... 26

Figure 5: Conceptual Framework ...................................................................................32

Figure 6: Research design ................................................................................................ 35

Figure 7: Model estimation results with Greenwashing as moderating variable ......56

Figure 8: Scatter Plot with Greenwashing as moderating variable ............................ 56

Figure 9: Results of model estimation with Blockchain Technology as the

moderating variable. .........................................................................................................57

Figure 10: Scatter Plot with Blockchain Technology as moderating variable ...........58
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ABBREVIATIONS INDEX

No Abbreviation Full form

1 TPB Theory of planned behavior

2 TAM Technology Acceptance Model

3 TRA Theory of Reasoned Action

4 PEOU Perceived ease of use

5 Att Attitudes toward using

6 EFA Exploratory factor analysis

7 BT Green Brand Trust

8 GW Greenwashing Perception

9 BC Blockchain

10 PI Green Purchasing Intention

11 KMO Kaiser-Meyer-Olin

12 MV Moderating variable

13 DV Dependent variable

14 IV Independent variable

15 OLS Ordinary Least Squares

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No Abbreviation Full form

17 PCA Principal Components Analysis

18 PU Perceived usefulness
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Abstract

In the context of contemporary concerns about sustainability in the beauty industry, the
phenomenon of Greenwashing Perception poses significant challenges for companies,
industries, and society at large. Grounded in the psychological contract theory, this
research investigates the impact of consumers' Green Brand Trust on their Green
Purchasing Intention, with a focal point on the regulatory roles played by consumers'
Greenwashing Perception and the application of blockchain technology.

Utilizing an online survey, 345 responses were collected, and upon data validation, 45
samples were excluded due to non-compliance with the set criteria. This research
employed SPSS for variable selection and categorization, while AMOS was utilized for
model adjustment. The findings underscore a significant positive association between
consumer Green Brand Trust and their inclination toward green purchasing. Moreover,
consumer awareness of Greenwashing Perception was identified as a moderating factor in
this relationship. Importantly, the study highlights the reinforcing impact of blockchain
implementation on the favorable influence of Green Brand Trust on green purchase
intention.

This research may contribute to the understanding of individual consumer psychological

dynamics following the perception of Green Brand Trust, offering valuable insights for
corporate performance and sustainable development. By illuminating the interplay of
Green Brand Trust, Greenwashing Perception, and blockchain technology, the study
provides a nuanced perspective on fostering sustainable practices in the beauty sector.
Furthermore, these insights are anticipated to inform strategic decisions for businesses,
promoting environmentally conscious practices and contributing to the overall resilience
and sustainability of the economic landscape.

Keywords: Greenwashing Perception; Green Purchasing Intention; Green Brand Trust;

blockchain technology; green consumption.
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CHAPTER 1: INTRODUCTION

1.1. Background
In recent years, the beauty industry has undergone significant development and
transformation, indicating positive changes in the global economy and society. The
increase in personal income has created conditions for people to desire more self-care,
leading to a rise in demand for beauty products. This industry has become a vibrant hub,
providing a wide range of products and services aimed at enhancing personal beauty.

According to Common Thread Co, the global value of the beauty industry currently
stands at $511 billion USD, and this comes as no surprise. This rapid growth is attributed
to the influence of social media and brand ambassadors, along with the continuously
increasing demand for beauty and personal care products. The Asia-Pacific region is
notably driving this growth, accounting for 46% of the global market share, as
emphasized by Common Thread Co. Renowned for its rich skincare traditions and
innovative beauty products, Asia has solidified its position as a strong force in the beauty
industry. The cultural importance of beauty in Asian society, especially for women,
continues to fuel this dominance.

Among them, Vietnam stands out with an impressive growth rate, reaching an average of
6.47% annually from 2000 to 2017, according to data from Trading Economics. The
cosmetics market reached a value of 2.3 billion USD in 2022 and is projected to reach 3.2
billion USD by 2027 (Euromonitor International). Despite having a small-scale cosmetics
market, Vietnam's high growth rate makes it a notable contender. Today, nearly 80% of
Vietnamese women use cosmetics and skincare products. The skincare sector accounts for
one-third of the cosmetics market in Vietnam (Nguyen & Sirikhoon 2008). Due to
Vietnam's humid tropical climate and increasing air pollution, the demand for skincare
products with functions such as sunscreen, whitening, and anti-aging is still rising. This
contributes to the expansion of beauty and personal care product diversity in the market.
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Looking ahead, the future of the global beauty industry looks promising. PR Newswire
forecasts an impressive value of $716.6 billion USD by 2025, with a compound annual
growth rate (CAGR) of 5.9%. This strong growth can be attributed to the increasing
inclusivity of the industry and the emergence of gender-diverse products. As beauty
brands adapt to changing social norms and consumer preferences, they will have the
opportunity to leverage this growing market in the years to come.

Alongside changes in consumer preferences, there is a growing demand for organic and
natural beauty products. Formula Botanica predicts this market to reach $54 billion USD
by 2027, driven by increasing awareness of ingredient transparency and sustainability.
Therefore, brands must adopt environmentally friendly practices and provide ethically
sourced ingredients to meet the evolving expectations of consumers. Moreover, there is a
growing focus on environmentally conscious consumption, with 25% of consumers
prioritizing eco-friendly products, as emphasized by We Are Social. This sentiment is
particularly evident among younger demographic groups, with Gen Z, Gen X, and
millennial generations leading the promotion of sustainable beauty habits. As consumers
become more discerning, brands must prioritize sustainable development to maintain
competitiveness in an increasingly environmentally conscious market.

1.2. Rationale
In today's era, global interest in the beauty and healthcare industry is increasing, leading
to significant changes in consumer behavior. In 1989, 67% of Americans declared that
they were willing to pay an extra 5-10% for environmentally friendly products
(Coddington, 1990). By 1991, individuals with environmental consciousness were willing
to pay an extra 15-20% for green products (Suchard & Polonsky, 1991). The increasing
awareness of environmental issues and the evident impacts of human-induced disasters
have prompted individuals to reconsider their choices, particularly in the realm of
discussed products. This is known as "green purchase intention" in marketing, signifying
a shift towards environmentally friendly behavior. As defined by Aulina and Yuliati
(2017), Green Purchasing Intention refers to an individual's willingness to engage in
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environmentally friendly behavior by choosing green products over conventional ones,

demonstrating their concern for the environment.

Environmental concern has become one of the top priorities for customers and businesses
worldwide, leading to a significant increase in green products on the market. This drives
the development of products and services that have a positive impact on the environment
and society. In this context, advertisers are facing significant pressure to demonstrate that
green products are safe and sustainable for the environment. According to the World
Commission on Environment and Development (2010) defines "sustainability" as the
ability to meet present needs without compromising the ability of future generations to
meet their own needs. This involves the prudent use of resources, conservation of the
environment, and thoughtful consideration of social and economic factors to guarantee
lasting viability and resilience over time. This is not only a demand from consumers but
also a crucial factor in building and maintaining the Green Brand Trust. Delmas and
Burbano (2011) define "Green Brand Trust" as the level of trust and confidence that
consumers have in a brand's dedication to environmental sustainability and ethical
practices. This encompasses consumers' perceptions of a brand's efforts to minimize its
environmental footprint, utilize renewable resources, reduce carbon emissions, participate
in recycling programs, and adhere to ethical sourcing practices, among other
environmentally responsible initiatives. According to research conducted by Mostafa, a
leading researcher in this field, customers with a positive view of green products tend to
purchase them more often. They often mention their green brand and heavily rely on its
positioning in the green product sector.

This indicates that, to attract and retain customers in this increasingly competitive market,
brands need to invest in building and respecting the credibility of their green brand. This
can be achieved through effective advertising and communication strategies, ensuring that
green products are portrayed as reliable, safe, and environmentally sustainable.
Furthermore, positioning the green brand in the minds of customers is also crucial. Brands
need to clearly and consistently demonstrate their commitment to environmental
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protection and community welfare, from production processes to social and

environmental benefits. This helps create a strong and deep emotional connection
between the brand and customers, thereby influencing their decision to purchase green
products (Tan et al., 2022) . The journey towards sustainability in this industry is
evidence of collective efforts to reduce the impact of human-made disasters and create a
harmonious balance between personal care and global health.

Many companies have tried to market themselves as "green," often providing examples of
how they have reduced their environmental impact in their advertising materials
(Enarsson & Leif, 1998). However, as green products become increasingly popular in the
market, consumers are seeking more environmentally friendly alternatives, reflecting an
increased awareness of the environmental and social impacts of consumer behavior (Kim
& Chung, 2011; Nimse et al., 2007). This reflects the increasing awareness of the impact
of consumer behavior on the environment and society. But what about manufacturers?
Are the products they produce meeting sustainability standards? Today's consumers are
increasingly focused on choosing sustainable products, and suppliers also face the
challenge of ensuring that their products are truly sustainable as advertised.

A prominent issue in this context is the phenomenon of "Greenwashing Perception,"

where some businesses are accused of exaggerating the environmental friendliness of
their products (Hsu, 2011; Aji & Sutikno, 2015). As stated by Choice (2010),
"Greenwashing Perception" is defined as "the act of misleading consumers regarding the
environmental practices of a company or the environmental benefits of a product or
service”. While companies may advertise their products as sustainable and
environmentally friendly, they may not actually meet the necessary standards and criteria.
Greenwashing Perception confuses consumers and undermines efforts to promote
sustainability in the beauty and healthcare industry.

The key issue here is the need for robust assessment and certification mechanisms to
ensure that products advertised as sustainable truly meet the standards and commitments
of the suppliers. Independent certification organizations and supply chain monitoring
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systems can play a crucial role in preventing Greenwashing Perception and ensuring
transparency and honesty in the information provided to consumers. This is essential to
build trust and promote a more sustainable and transparent market in the beauty and
healthcare industry.

In this study, we propose an idea for a 4.0 tool to help suppliers implement necessary
measures to ensure transparency in their product supply chains. Specifically, we propose
deploying Blockchain technology, an increasingly popular technology in many fields, to
create a system to track the origin of raw materials, ensure transparency in the supply
chain, and minimize waste and environmental pollution from production processes to the
final stage of use. Meunier (2018) succinctly describes "Blockchain" or Distributed
Ledger Technology (DLT) as a mechanism enabling users to record and share a unified
view of a system's status across a decentralized network. This innovation unlocks
boundless opportunities for peer-to-peer value exchange, establishing shared trusted
registries as unchangeable sources of truth, and executing secure agreements via smart
contracts. In essence, Blockchain serves as a tool to foster trust, transparency, reliability,
speed, and efficiency in both peer-to-peer interactions and automated transactions. From
there, brands can use marketing strategies to create value and brand recognition for the
business. This research is expected to provide a deeper insight into how blockchain
technology can be applied to promote sustainability in the beauty and healthcare industry,
while exploring the potential and challenges of implementing these solutions. The results
from this study can help guide businesses and governments in developing policies and
strategies towards a more sustainable future in beauty and healthcare.

1.3. Reasons for Choosing the Research Topic

Prior research, as demonstrated by Li et al. (2021), has established that green trust has the
potential to bolster consumers' intentions to engage in environmentally friendly
purchasing behaviors. Notably, trust emerges as a crucial determinant shaping consumers'
future purchase intentions, as highlighted by Garbarino and Johnson (1999). By
investigating the factors that shape consumers' intentions to purchase green products
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through the lens of values, the research contributes to the theoretical understanding of
environmental values. Similarly, consumer purchase intention stands out as a vital tool for
forecasting consumer purchasing behaviors, as emphasized by Newberry et al. (2003).
The relationship between the sustainable characteristics of brands and how consumers
conceive them is still missing (Grubor & Milovanov, 2017). Therefore, further research is
necessary to investigate the causal relationships between Green Brand Trust,
Greenwashing Perception, blockchain and green purchase intention, considering cultural
and behavioral factors specific to the Vietnamese context. The research may provide
insights into how sustainable cosmetics and healthcare industry can improve the brand
equity over the transparency to increase customer purchase intention and loyalty.

Additionally, the target population for this study consists of people aged 18 to 27, who are
in group Generation Z. According to Uddin and Khan (2018), young generations typically
show interest in purchasing green products due to their heightened awareness of
environmental issues and understanding of the impact of their green consumer behavior.
Generation Z (Gen Z) is regarded as one of the most loyal and environmentally conscious
consumer groups (Gazzola et al., 2020). Compared to preceding generations, adopting
environmentally friendly practices has become more prevalent among these consumers
and has evolved into a lifestyle choice for many (Gazzola et al., 2020). Numerous studies
have explored the gap between consumer awareness and green purchase intention, along
with the underlying motivations and values driving consumers' actual behavior and
intentions when engaging in sustainable consumption. However, most of these studies
have focused on a single market segment based on the general population. Currently,
there is a lack of research providing insights into the green purchasing behavior of
Generation Z. Therefore, this area warrants further examination and promises to offer a
new perspective on green marketing research. Furthermore, thanks to their upbringing in
the digital age, accessing this demographic for research purposes is likely to be
considerably simpler compared to previous generations. Based on these considerations,
this demographic emerges as an ideal target group for this study.
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1.4. Research objectives and Scope.

The research project, "Sustainable Beauty Industry: The Role of Greenwashing

Perception and Blockchain" delves into the beauty sector with a specific focus on utilizing
data insights to strengthen customer trust in sustainable products. A central objective is to
unravel the intricate dynamics of consumer trust in environmentally friendly offerings by
examining the interplay between consumer behavior, ethical considerations, and the
credibility of green product claims. Through rigorous data collection and advanced
analytics, the research aims to construct a comprehensive model elucidating the
relationships between customer trust, challenges associated with Greenwashing
Perception practices, and the transformative potential of Blockchain in production
processes.

The methodological backbone of this endeavor lies in the construction of a robust

research model. By meticulously analyzing these elements, the research not only seeks to
address current complexities but also aims to lay the groundwork for future inquiries,
contributing valuable insights to the academic discourse on sustainability within the
beauty industry. Finally, the research endeavors to empower businesses with practical
insights, facilitating the adoption of sustainable practices, fostering consumer trust, and
navigating the evolving landscape of green products, thereby advancing the industry's
commitment to sustainability and responsible business practices.

Research Scope:

Space scope: Individuals aged 18 to 27 belonging to Generation Z residing in Ho Chi

Minh city.

Time scope: Limited to the month of December 2023.

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1.5. Research question.

Research Question: How can blockchain technology be leveraged to enhance

transparency, traceability, authenticity, and prevent Greenwashing Perception in the
production process of sustainable products within the beauty industry?

Sub-questions:

Q1: In what ways can blockchain ensure the transparency and traceability of the entire
production lifecycle of eco-friendly products, providing consumers with a verifiable
record of sourcing, manufacturing, and distribution?

Q2: How does the use of blockchain contribute to the prevention of Greenwashing
Perception by providing an immutable and auditable ledger of environmental and ethical
practices throughout the supply chain?

Q3: What role does blockchain play in verifying and certifying the authenticity of
sustainable materials used in the production of eco-friendly products, fostering consumer
confidence in the product's green attributes?
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CHAPTER 2: LITERATURE REVIEW

2.1. Overview

The global cosmetics and personal care industry, commonly known as the Beauty
Industry, reached an estimated value of $130.7 billion in 2016 and is projected to
experience a growth rate ranging from 4.7% to 5.3% CAGR during the period from 2017
to 2023. According to an NIQ survey, 61% of consumers associate sustainability with
benefiting the planet, 57% with preserving natural resources, and 54% with reducing
pollution. Only 33% associate it with better conditions for workers and 26% with societal
contributions.

Figure 1: Sustainability means different things to people (NIQ 2023 Sustainability

Report. Q)

The growing emphasis on sustainability has turned issues like health, environmental
degradation, and the ecological footprint of products into driving forces for the
industry. Initially focused on eliminating perceived “harmful” ingredients, consumers
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now seek products that not only meet clean beauty standards but also minimize
environmental impact. Sustainable segments across beauty, such as cruelty free, up
(+18.1%), compostable, up (+30.9%), and plastic free, up (+12.2%) are experiencing
substantial dollar growth Sustainable beauty now involves considerations such as eco-
friendly packaging, formulations that prioritize health and natural ingredients, and
efficient waste utilization (NIQ).

In the realm of skincare industries and product manufacturing, sustainable luxury has
become a significant catalyst. Customer consciousness towards environmental
friendliness and carbon neutrality has propelled the packaging industry towards eco-
friendly measures. Consumers are showing a growing preference for sustainable beauty
choices, which include vegan products made from natural ingredients and packaged using
eco-friendly materials (Varma, A., & Ray, S., 2023). Both businesses and consumers are
placing equal emphasis on this industry, given the gradual shift towards green products
becoming the standard rather than merely an alternative to conventional ones. (Vincent,
2012). Packaging materials like corn starch, seaweed, and bamboo are increasingly being
utilized to create visually appealing and environmentally friendly packaging for products.

In the skincare products market, the term 'natural' has transitioned into the new norm. The
cosmetics landscape is experiencing a significant shift towards the use of natural and
organic ingredients in cosmetic formulations. Traditional ingredients, such as phthalates,
parabens, and petroleum-based components, which can pose toxicity concerns for both
skin and the environment, are being reconsidered. The evident growth in the natural and
organic market for beauty products signals that innovation in sustainable beauty is
steering this sector. Terms like "Cruelty-free," "vegan," and "100% natural" have evolved
into commonplace expressions for cosmetics consumers. Organizations and
manufacturers are currently transitioning towards implementing environmentally friendly
standards and protocols in their production processes. They are also developing green
products that have minimal negative impacts on the environment throughout their entire
lifecycle (Sreen et al., 2018; Suki, 2016). Manufacturers worldwide are actively
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incorporating these terms into their product offerings. There is a heightened sensitivity
towards ingredients, driving innovation in the sustainable beauty industry. Products made
from vegan materials like honey beeswax and keratin are emerging as part of this
innovative wave.

On the other hand, the sustainable beauty industry has strong influences on nature as well
as the environment. According to recent Zero Waste Week reports, beauty packaging
amounts to 120 billion units annually, comprising plastic, paper, glass, and metals, all
destined for landfills. Recycling is hindered by mixed materials in cosmetic packaging,
and even when separable, it's often impractical for recycling workers. In the UK, 56% of
people don't recycle shampoo or shower gel bottles due to the perceived stress of the
process. The UN environmental program warns that without change, oceans could contain
more plastic than fish by 2050. While consumers are increasingly interested in
sustainability, many struggle to adopt sustainable lifestyles. They believe that
governments, retailers, and manufacturers bear the primary responsibility for fostering a
more sustainable economy. To address these changing consumer preferences, beauty
brands must prioritize transparency. This involves clearly communicating their sourcing
practices on product packaging and refraining from making unsubstantiated claims. For
instance, a significant proportion of consumers prioritize the use of responsibly sourced
ingredients. Additionally, another notable group of consumers express a desire for beauty
brands to increase their utilization of sustainably produced ingredients. The emergence of
sustainable beauty trends in 2023 and beyond will significantly impact the strategies of
beauty brands and their ability to engage with consumers on a deeper level (NielsenlIQ
Report 2023).

On the other side, the sustainable beauty industry encounters various challenges in its
pursuit of eco-friendly and ethical practices. The upfront costs of implementing
sustainability measures, supply chain complexities, and the need for consumer education
pose significant hurdles. Numerous companies are working to enhance their
environmental image by communicating their eco-friendly initiatives to the public. To
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achieve this, they are employing green marketing strategies to secure a competitive edge
and attract environmentally conscious consumers. Nevertheless, it's important to note that
not all claims made through green marketing accurately represent a company's actual
environmental practices, potentially leading to perceptions of 'Greenwashing Perception.'
Additionally the limited regulatory frameworks, and technological barriers in developing
sustainable alternatives contribute to the industry's challenges. Packaging waste,
consumer preferences, and the global variation in market awareness further complicate
efforts. Overcoming these obstacles requires collaborative efforts, research and
development investments, transparent communication with consumers, and the
establishment of industry-wide standards. Despite these challenges, the industry's
commitment to sustainability remains crucial for addressing environmental concerns and
meeting the evolving preferences of conscious consumers.

2.2. The importance of Green Brand Trust in the sustainable beauty industry

2.2.1. Theoretical framework

Theory of Reasoned Action (TRA)

Fishbein and Ajzen (1975) introduced the Theory of Reasoned Action (TRA) with the
aim of elucidating customer behavioral intentions. Building on this, Ajzen and Fishbein
(1980) posited that intentions serve as the primary predictor of human behavior,
underpinned by the notion that individuals are rational actors who systematically utilize
available information (Ding and Ng, 2009). Originally crafted to forecast intentions
towards reasoned actions in everyday scenarios like the use of birth control, TRA delves
into the cognitive aspects of decision-making (Guo et al., 2007). It particularly excels in
analyzing decisions that involve non-routine thinking and critical deliberation
(Oppermann, 1995), making it an effective tool for understanding consumers' contextual
decision-making processes (Han and Kim, 2010).
 22

At its core, TRA emphasizes individuals' intentions to engage in specific behaviors. Here,
"intention" denotes the willingness or readiness to partake in the behavior under
consideration (Han and Kim, 2010; Ajzen, 1985). Within this framework, the intention to
purchase green products reflects consumers' readiness or willingness to embrace
environmentally friendly options (Han and Kim, 2010). In particular, TRA has been
employed to forecast intentions within the realm of green marketing, encompassing
activities like energy conservation, recycling behaviors (Davies et al., 2002), and green
purchasing behaviors (Ha and Janda, 2012; Wahid et al., 2011; Sparks and Shepherd,
1992).

In the context of the research model, as per TRA theory, an individual's behavioral
intention (Behavior Intention) is shaped by their attitude (Attitude). According to Kotchen
and Reiling (2000), attitude stands out as the primary predictor of behavioral intention.
Additionally, attitude encompasses judgments regarding the perceived goodness or
badness of the behavior in question, as well as the individual's desire to engage in said
behavior (Leonard et al., 2004). Hence, it follows that when consumers possess awareness
and maintain a positive attitude towards the environment, they are more likely to
prioritize and prefer greener products.

Theory of planned behavior (TPB)

When consumer behavior constraints surpass the predictive capability of intentions alone,
integrating control factors can elucidate perceived constraints, thus bolstering the theory's
predictive capacity (Armitage and Conner, 2001). This integration of perceived
behavioral control, a non-volitional aspect, into the Theory of Planned Behavior (TPB)
broadens TRA's scope (Ajzen, 1985, 1991). TPB allows for the examination of personal
determinants, social contexts, and non-volitional factors influencing intention (Han et al.,
2010), enhancing predictability, particularly in green product purchase models
(Jebarajakirthy and Lobo, 2014).
 23

Beyond individual attitudes, perceived behavioral control is vital in the TPB model,
representing individuals' perceptions of potential barriers to behavior (Ajzen, 1991).
Research by Paul, J., Modi, A., & Patel, J. (2016) illustrates TPB's use in demonstrating
the positive relationship between environmental concern and green product purchase
intentions. Environmental concern plays a crucial role in prompting environmentally
friendly behavior changes, suggesting that environmentally aware customers are more
likely to prioritize green products or brands. Consequently, the perception of
Greenwashing Perception may hinder consumer purchase intentions.

In the last two decades, the application of the Theory of planned behavior (TPB) in
environmental science has increased, since it can provide valuable implications not only
for predicting and managing individual behavior, but also for increasing social and
environmental sustainability. With contributions to different fields, particularly in social
science, business, management, agriculture, and economics, the Theory of planned
behavior (TPB) is setting the way for new trends in environmental behavior research (Si
et al., 2019)
 24

Figure 2: The Theory of planned behavior (TPB)

The Technology Acceptance Model (TAM)

Technology Acceptance Model (TAM), introduced by Davis in 1989, is one of the most
cited frameworks to understand and predict the process of user acceptance or adoption of
information systems. The present study uses this model as the theoretical basis for the
development of a new model. TAM traditionally involves five constructs: ‘Perceived
Ease-of-Use (PEU)’, ‘Perceived Usefulness (PU)’, ‘Attitude Towards Using (ATU)’,
‘Behavioral Intention to Use (BIU)’, and ‘Actual System Usage (AU)’. It establishes that
the PEU and PU can predict ones’ attitude towards the use of a given technology. Then,
the ATU can, in turn, predict the behavioral intention to use and, finally, intention
predicts the AU of that technology. Furthermore, it proposes that external variables
intercede indirectly, thus impacting the intention to use. According to Davis et al. (1989),
the Technology Acceptance Model (TAM) offers a conceptual framework for studies on
green products. This model addresses two key questions: (1) Why do users accept or
reject information technology? (2) What is the impact of a system’s design feature on user
acceptance? According to TAM, perceived ease-of-use, perceived usefulness, attitude and
intention have been theorized to be the prime influencers for usage and acceptance
attitude (Hsu & Lin, 2008; Lai et al., 2010; Lim et al., 2008). In other words, TAM makes
use of the causal chain of belief, attitude, and intention behavior for predicting the
employees’ acceptance of technology (Nikkheslat et al., 2012).

A previous study by Melville (2010) crafted a research agenda concerning information

systems innovation for environmental sustainability, emphasizing the pivotal role of
information systems in shaping environmental beliefs, facilitating and altering sustainable
practices within organizations, and enhancing both environmental and economic
performance. Following a thorough review, Melville suggested that the Technology
Acceptance Model (TAM) should play a crucial role not only in modeling traditional
motivational factors but also in accounting for external influences shaping beliefs and
attitudes regarding outcomes. In this study, the TAM theory is utilized to assess the
 25

influence of blockchain technology on consumers' environmental beliefs and their

intentions to purchase green products.

Figure 3: Technology acceptance model (Partially adapted from Davis et al. (1989))

2.2.2. Prior research

In 2021, Li et al. conducted this research to classify environmental values into egoistic,
altruistic, and biospheric values. They discussed the influence mechanisms of
environmental values on green product purchase intention, based on environmental values
and green product trust. Green trust exerted a positive moderating effect on environmental
concern and green product purchase intention. When green trust was high, environmental
concern enhanced the promotion effect of green product purchase intention, and the
results supported the research hypothesis.
 26

Figure 4: How do environmental values impact green product purchase intention?

(The moderating role of green trust (Li et al., 2021))

The burgeoning significance of issues concerning the sustainable evolution of markets

and consumption is underscored by the robust research output and consequential impact
within this domain. Existing empirical inquiries have primarily concentrated on the
responses of key stakeholders (Mahoney et al., 2013), such as customers (Nyilasy et al.,
2014), employees (Ramus & Montiel, 2005), and investors (Xingqiang, 2015), towards
the menace of Greenwashing Perception. These investigations reveal diverse
repercussions attributed to Greenwashing Perception. Notably, they indicate a decline in a
firm's value or competitiveness (Xingqiang, 2015), depreciation of advertising or brand
value (Schmuck et al., 2018), and a cessation in consumer preference for purportedly
green products when suspicions of Greenwashing Perception arise (Rahman et al., 2015).
The comprehensive examination of prior influential research underscores the recognition
of Greenwashing Perception as a pertinent issue (Siano et al., 2017), delineating its
adverse ramifications (Parguel et al., 2011). However, despite the extensive focus on the
detrimental consequences of Greenwashing Perception evident in prominent literature,
numerous aspects of how enterprises can mitigate and regulate Greenwashing Perception
remain relatively unexplored. Additionally, the mechanisms through which information
dissemination and certifications safeguard consumers' selection of eco-friendly products
from perceived instances of Greenwashing Perception are still poorly understood
(Nygaard & Silkoset, 2023).

The extent of perceived Greenwashing Perception, which incurs significant costs (Jensen
& Meckling, 1976), underscores the intricacies and information disparities inherent in
consumer-supply chain interactions. These interactions are frequently characterized by
complexity and asymmetric information, necessitating vigilance in monitoring product
green credentials to alleviate consumer concerns regarding the prevalence of
Greenwashing Perception (Nygaard & Silkoset, 2023). Perceptions of Greenwashing
Perception may stem from entrenched norms of a linear economy, wherein supply entities
merely manipulate marketing strategies without substantially restructuring their
 27

unsustainable product portfolios to align with the principles of a circular green economy.
Rather than discontinuing the promotion of outdated, unsustainable products, these
entities actively endeavor to portray them as environmentally friendly (Armstrong Soule
& Reich, 2015).

Nygaard & Silkoset (2023) posit that this study should catalyze for supply chain
managers to recognize consumers' demand for transparent, traceable, and tamper-resistant
information to ensure the authenticity of transactions. They highlight that contemporary
blockchain technology stands poised to furnish consumers with such information, which
could also bolster green communication, brand integrity, and promotional activities in the
transition toward a circular economy. Their research advocates a managerial approach
wherein companies orchestrate efforts to meet consumers' intertwined requirements for
information, certifications, and oversight to mitigate perceptions of Greenwashing
Perception. Their findings suggest that the availability of information—transparent,
traceable, and tamper-resistant—substantially mitigates the perception of Greenwashing
Perception.

2.3. Factors affecting green purchase intention

According to a recent McKinsey and Company (2020) report, 66% of respondents,

including a staggering 75% of millennials, indicated that their purchasing decisions were
influenced by the perceived sustainability of a product. It's been demonstrated that
tangible green initiatives positively impact consumers' perceptions of environmentally
friendly products, especially among those with high environmental awareness (Nguyen et
al., 2019). However, an information gap between companies and consumers has led some
companies to resort to more cost-effective forms of "Greenwashing Perception" in order
to present themselves as environmentally friendly and gain consumer trust (Sun & Shi,
2022). This practice can negatively affect customers' intentions to purchase green
products.
 28

As a result, brands offering green products have taken steps to build consumer trust.
Previous research has shown that blockchain technology provides significantly more
assurance to consumers compared to certification systems in guarding against the threat of
Greenwashing Perception. Blockchain technology enables the creation of tamper-proof,
transparent, and traceable information from "farm to fork" (Nygaard & Silkoset, 2022).

2.3.1. The impact of Greenwashing Perception

With consumers increasingly prioritizing environmental concerns, companies face

significant incentives to portray themselves as environmentally friendly despite engaging
in non-sustainable practices (Callery & Perkins, 2021). However, recent research in 2021
has revealed the extent of Greenwashing Perception, where companies misrepresent their
operations as environmentally friendly. In over 50% of cases, their green claims were
found to be inaccurate and misleading, with 37% of companies making unsupported
assertions about their products being "conscious," "eco-friendly," or "sustainable" (EU,
2021). Furthermore, unfair and deceptive Greenwashing Perception practices were
identified in 42% of cases (EU, 2021).

Misleading communication by brands regarding the transparency of green products, often

referred to as "Greenwashing Perception", significantly influences consumers' Green
Purchasing Intention. Green claims primarily serve to generate empathy with
environmentally conscious customers, influencing their buying behavior. Research by
Szabo and Webster (2021) has demonstrated that Greenwashing Perception negatively
impacts consumer perceptions of products, environmental concerns, and overall
satisfaction. Additionally, Sun and Shi (2022) found that consumers with a strong sense
of environmental responsibility are less likely to purchase green products when they
detect Greenwashing Perception, indicating a complex relationship between
environmental awareness, perceived deception, and buying intentions. As consumers
become more knowledgeable about green products, they scrutinize companies'
environmental claims more closely, leading to negative perceptions and reduced purchase
intentions towards companies engaged in Greenwashing Perception practices (Nguyen et
 29

al., 2019). Over time, perceived Greenwashing Perception erodes consumer confidence in
the market for "green" products. Companies engaging in Greenwashing Perception risk
facing boycotts if their deceptive practices are exposed (Friedman, 1985).

These research findings underscore the detrimental effects of Greenwashing Perception

and emphasize the importance of building brand reputation and educating consumers to
recognize and reject deceptive Greenwashing Perception practices.

2.3.2. The role of blockchain dimensions

One strategy aimed at mitigating the adverse effects of Greenwashing Perception on

consumer purchasing decisions involves the integration of Blockchain technology to
enhance the transparency and credibility of green products. By leveraging the
decentralized nature of the network, information stored on the blockchain becomes
resistant to alteration or deletion, thereby promoting transparency and security within the
system. Specifically, details regarding the sourcing of raw materials, manufacturing
processes, storage conditions, and transportation routes can be securely recorded and
stored on the blockchain in an immutable and transparent manner. Consumers can utilize
data retrieval tools on the blockchain to assess the transparency of brands and products.
As consumers place greater trust in traceable, transparent, and tamper-proof information,
their perception of Greenwashing Perception diminishes (Nygaard & Silkoset, 2022).

Furthermore, research by Boukis (2020) highlights how brands with an authentic identity
can enhance their corporate image by incorporating blockchain applications that embed
their brand identity and rich heritage into each product. This application of blockchain
technology effectively bridges the gap between brands and consumers, positively
impacting consumer trust. This holds true for businesses seeking to promote their green
products, as blockchain applications provide access to critical, trustworthy information,
thereby facilitating the transition towards a more environmentally friendly and sustainable
society.
 30

The utilization of blockchain technology enables consumers to access transparent,

traceable, and tamper-proof product information, ultimately reducing perceptions of
Greenwashing Perception and fostering trust in green products and initiatives (Nygaard &
Silkoset, 2022).

2.4. Conceptual framework

According to You-Kyung (2020), trust in the environmental performance of imported

goods is defined as a belief or expectation that is based on the credibility, compassion,
and capability of the individual or organization holding the belief or expectation. When
individuals place trust in a brand, they anticipate that the brand’s future actions will be
beneficial to them and not detrimental to the environment (Robinson, 1996). This trust in
a brand enhances confidence and influences consumer behavior. Hameed, Waris, et al.
(2018) posited that eco-labels, which provide information about green products, bolster
consumers’ trust in green brands and heighten their environmental concerns, thereby
promoting environmentally conscious behavior. Furthermore, a positive experience with a
seller’s credibility can amplify a customer’s purchase intent. Thus, consumer trust is
integral to a customer’s purchasing intent (Almoussawi et al., 2022). It is also worth
noting that trust is a key factor in the purchase of environmentally friendly products
(Wasaya et al., 2021).

H1. Green Brand Trust positively affects Green Purchasing Intention.

Consumer trust plays a pivotal role in the decision to purchase eco-friendly products
( Peattie, 2001). As education and awareness about environmental pollution rise,
consumers are increasingly recognizing the significance of environmental preservation,
leading to a greater propensity to opt for green products ( Chen & Chang, 2012; Hartmann
& Apaolaza-Ibáñez, 2012). Nevertheless, due to information asymmetry, consumers may
lack a complete understanding of a company’s eco-friendly practices. If a company does
not promptly disclose its specific environmental objectives and the particulars of its eco-
friendly actions, it can engender doubt and distrust ( Orazi & Chan, 2020).
 31

Drawing from the psychological contract theory, it is suggested that if consumers

perceive a company to be engaging in deceptive environmental practices, it can lead to
the rupture of the psychological contract that exists between the consumer and the
company ( Grégoire & Fisher, 2008). This can result in diminished satisfaction and even
lead to disengagement ( Hai-Ming et al., 2020). Consequently, consumers may exercise
increased caution in future green purchases, thereby influencing their Green Purchasing
Intention ( Wang et al., 2010).

This aligns with Wagner’s assertion that a company’s failure to fulfill its professed social
responsibilities can result in a breach of the psychological contract, causing consumers to
feel deceived and betrayed, and potentially leading to retaliation ( Wagner et al., 2009). In
the context of the impact of perceived Greenwashing Perception, it has been noted by
several researchers that consumer skepticism tends to increase upon the realization of a
company’s Greenwashing Perception activities. This skepticism, in turn, often results in a
decreased likelihood of purchasing products from such companies (Atkinson & Rosenthal,
2014; Chen, et al., 2020; Nyilasy et al., 2013; Zhang et al., 2018). Based on these
observations, this study puts forth the following hypothesis:

H2. The stronger the consumers’ Greenwashing Perception, the greater the negative
effect of consumers’ Green Brand Trust on their Green Purchasing Intention.

Organizations must exhibit flexibility and alignment with the fluctuating demands of
customers. Customer-oriented organizations must implement systems that collect
customer data from all available sources to comprehend customer needs. Given the
ubiquity of the internet, comprehensive product information, inclusive of its
manufacturers, is accessible to customers. Therefore, maintaining a customer-centric
approach is crucial for organizations (Chen and Popovich 2003). The integration of
blockchain technology into a Digital Supply Chain can substantially enhance operational
efficiency, thereby improving the customer experience. This advancement subsequently
enhances customer satisfaction levels and thereby augments brand trust (Yerpude et al.,
2022).
 32

As Green Brand Trust increases, the disparity between the company’s intended brand
image and the customer’s perception of the brand diminishes. This alignment fosters a
positive consumer response toward the brand (Jevons & Gabbott, 2000). The current
study anticipates that an increase in Green Brand Trust will correspondingly increase
consumers’ Green Purchasing Intention. Therefore, the researchers put forth the following
proposition:

H3. The stronger the application of blockchain, the greater the positive effect of
consumers’ Green Brand Trust on their Green Purchasing Intention.

Figure 5: Conceptual Framework

 33

CHAPTER 3: METHODOLOGY

3.1. Research design

3.1.1 Quantitative Method

Our research team has identified that existing gaps from prior studies fail to accurately
depict the market dynamics of Vietnam, particularly in the bustling city of Ho Chi Minh
City, due to economic and cultural disparities. To address this issue effectively, we opted
for a quantitative approach, employing a meticulously crafted questionnaire to gather
insights from a diverse range of consumers, with a particular focus on the youthful
demographic in Ho Chi Minh City.

Data collection involves a spectrum of methods, including multiple-choice inquiries and

5-point Likert scales, gauging respondents' alignment or divergence with statements
regarding their intent to purchase beauty products online. Subsequently, employing
statistical analyses, we intend to discern correlations among variables, thereby
formulating conclusive insights and actionable recommendations. Our paramount
objective is to refine, augment, and tailor measurement scales to precisely reflect the
nuanced Green Purchasing Intention of our target audience.

In alignment with the theoretical framework expounded in Chapter 2, our research team
has pinpointed five pivotal factors germane to product purchase intent in this domain.
These factors draw upon empirical observations gleaned from antecedent studies,
furnishing a robust groundwork for our quantitative inquiry and guiding the trajectory of
our subsequent research endeavors.

The scale that our research team uses in the research proposal is a 5-level Likert scale,
from 1 to 5, applied to all independent variables, dependent variables and moderating
variables. Specifically, the rating levels include: 1 “completely disagree”, 2 “disagree”, 3
“neutral”, 4 “agree” and 5 “completely agree”.
 34

The main participants in our study are generation Z, from 18 to 27 years old, residing,
studying and working in various areas within Ho Chi Minh City and other major cities.
These surveyees were selected based on their tendency to purchase green beauty products.
This selection process aims to ensure the diversity and representativeness of the sample,
facilitating the collection of high-quality data that accurately and comprehensively
reflects the Green Purchasing Intention of the target audience.

3.1.2. Research design

 35

Figure 6: Research design

3.2. Formation of Measurement scale

3.2.1. Research sample

Surveys are distributed to individuals residing in Ho Chi Minh City who have interactions
with beauty products and services. These individuals encompass various age groups and
income levels.

The authors selected a sample size for their research project that meets the requirements
of both exploratory factor analysis (EFA) and regression analysis, as determined by two
established formulas:

For EFA, Hair et al. (2010) recommend a minimum sample size of 50 (with a 5:1
observation-to-variable ratio) and ideally 100 (with a 10:1 observation-to-variable ratio).
The minimum sample size is defined as n ≥ 5x + 5 (where x represents the number of
observed variables). Based on the group's 17 observed variables (14 for 3 independent
variables and 3 for 1 dependent variable), the sample size must satisfy n ≥ 5.17 + 5 = 90
units.

For regression analysis, the required sample size is n ≥ 8p + 50 (where p is the number of
independent variables). Therefore, with 3 independent variables in the author's study, the
sample size must meet n ≥ 8.3 + 50 = 74 units.

According to these formulas, the authors need a minimum sample size of 90 units. After
conducting the survey, the team obtained a sample size of 345, exceeding the required 90
units. However, upon data verification, 45 samples were removed as they did not meet the
criteria.
 36

3.2.2. Measurement scale

The inheritance and enhancement group primarily relies on the analysis, evaluation, and
synthesis of research studies: (1) “The effect of a green brand story on perceived brand
authenticity and Green Brand Trust: the role of narrative rhetoric” by Chaohua Huang &
Rui Guo (2021), (2) “How does Greenwashing Perception affect green branding equity
and purchase intention? An empirical research” by Akturan and Ulun (2018), (3) “The
impact of blockchain technology on the online purchase behavior of green agricultural
products” by Hua Liu et al. (2023), (4) “Impact of Greenwashing Perception on
Consumers” Green Purchasing Intention: A Moderated Mediation Model" by Yongbo
Sun & Binbin Shi (2022). Users' level of agreement with the factors is measured using a
Likert 5-point scale. Specifically, 1 point means Strongly disagree, 2 points means
Disagree, 3 points means Neutral, 4 points means Agree, and 5 points means Strongly
agree.

The table below presents the scale developed for the four main factors of the research
model.

Table 1: The scale developed for the four main factors of the research model.

Variable Coding Statement Source

Green Brand BT1 I have faith in this brand. Chaohua

Trust Huang &
BT2 This brand ensures my contentment.
Rui Guo
BT3 This brand prioritizes environmental (2021)
responsibility.

BT4 This brand embodies sustainability.

BT5 This brand is genuine and earnest in

resolving my concerns.

Greenwashing GW1 This product misleads with words in its Akturan &
Perception environmental features. Ulun (2018)

Perception GW2 This product misleads with visuals or

 37

Variable Coding Statement Source

graphics in its environmental features.

GW3 This product possesses a green claim

that is vague or seemingly un-provable.

GW4 This product overstates or exaggerates

how its green functionality actually is.

GW5 This product leaves out or masks

important information, making the
green claim sound better than it is.

Blockchain BC1 I believe that community influence Hua Liu et

regarding the use of blockchain al. (2023)
technology to trace products positively
affects my purchase intention.

BC2 The sharing of others about using

blockchain to trace products is an
essential factor influencing my
purchasing decisions.

BC3 I feel comfortable and familiar when

using blockchain to check the origin of
a product before making a purchase.

BC4 I trust in the ability of blockchain

technology to provide accurate and
transparent information about the origin
of the product.

Green PI1 I am willing to buy other related Yongbo Sun

Purchasing products from this company because of & Binbin
Intention its environmental performance. Shi (2019)

PI2 I am happy to buy products from this

company because it cares about the
environment.

PI3 I would recommend others to buy

products from this company.
 38

3.3. Data collection and Questionnaires

3.3.1. Questionnaires

Based on the theoretical framework presented in Chapter 2, develop a test questionnaire

in Vietnamese to facilitate access to the target audience the research group is focusing on.
Then, the testing process in terms of academic rigor and practical applicability of the
questionnaire is carried out by the group. The final result is a comprehensive
questionnaire described specifically in Appendix 1.

3.3.2. Data collection

The research subjects are invited to participate in the survey via email and direct
messaging on the Google Form platform. They will complete the questionnaire, and the
results will be collected through an online form. Data will be gathered over a period of
one week, with a total of 300 valid observations. The author commits not to share any
personally identifiable information from the outset in the questionnaire. However, general
demographic information will be analyzed in the descriptive statistics section.

3.4. Data analysis method

Before proceeding to data analysis, the first step is to filter and clean the data to ensure
the accuracy and significance of the analysis results. This process typically begins by
using Microsoft Excel 2016 software to perform basic transformations such as data
cleaning, formatting, removing duplicate data, and converting data into suitable formats
for further statistical analysis.

Subsequently, the data is imported into IBM SPSS Statistics 26 software to conduct
descriptive statistical analyses and assess the reliability of scales using Cronbach’s Alpha
method. Additionally, exploratory factor analysis (EFA) is performed to identify latent
factors within the data and gain a better understanding of its structure.
 39

Finally, in this process, IBM AMOS 24 software is used to handle moderating variables.
Here, the relationships between variables are examined, and theoretical models are tested
to ensure their adequacy and reliability. All of these tools and software play a crucial role
in helping researchers gain a deeper insight into the data and draw meaningful
conclusions from it.

3.4.1. Descriptive statistic

The author uses descriptive statistics to illustrate the demographic characteristics of

respondents and the current status of the impact of blockchain, Greenwashing Perception
and Green Brand Trust on purchase intention.

3.4.2. Cronbach's Alpha and EFA

Cronbach’s Alpha

Firstly, it is crucial to understand the concept of internal consistency of a factor. Internal

consistency means that the observed variables within a scale must have a strong positive
correlation, all explaining the same concept. Cronbach's Alpha is a measure of this
internal consistency. Therefore, if a scale's observed variables have a tighter positive
correlation, the scale will have higher internal consistency, and the Cronbach's Alpha
coefficient will be higher.

The Cronbach's Alpha coefficient ranges from 0 to 1. A value of 0 implies that the
observed variables in the group have virtually no correlation, while a value of 1 means
that the observed variables are perfectly correlated with each other. Values of 0 and 1
rarely occur in data analysis. Occasionally, Cronbach's Alpha coefficient may exceed the
boundaries of [0, 1], indicating that the scale lacks reliability, lacks unidimensionality,
and the observed variables within the scale are contradictory, opposing each other.

According to Nunnally (1978), a good scale should have a Cronbach's Alpha reliability
coefficient of 0.7 or higher. Hair et al. (2009) also suggest that a scale ensuring
 40

unidimensionality and achieving reliability should reach a Cronbach's Alpha threshold of

0.7 or higher. However, for exploratory studies, a Cronbach's Alpha threshold of 0.6 may
be acceptable. A higher Cronbach's Alpha coefficient indicates higher scale reliability.

Another important index is Corrected Item – Total Correlation, representing the

correlation between each observed variable and the other variables in the scale. If an
observed variable has a stronger positive correlation with other variables in the scale, the
Corrected Item – Total Correlation value will be higher, indicating better quality of that
observed variable. Cristobal et al. (2007) suggest that a good scale should have observed
variables with Corrected Item – Total Correlation values of 0.3 or higher. Therefore,
during the reliability testing with Cronbach's Alpha, observed variables with Corrected
Item – Total Correlation coefficients lower than 0.3 should be considered for removal.
The higher the Corrected Item – Total Correlation coefficient, the better the quality of the
observed variable.

EFA

Exploratory Factor Analysis (EFA) is a statistical method commonly used across various
disciplines, including economics, business, psychology, and behavioral sciences, to
evaluate the underlying structure of data. Its primary objective is to uncover relationships
among variables across different groups, known as factors, within the constructs being
measured. Through EFA, researchers can identify variables that load onto multiple factors
or those that are incorrectly assigned to factors initially, typically using Principal
Components Analysis (PCA) (Hair et al., 2010).

Initially, it is essential for the data to conform to a normal distribution and contain an
adequate number of observations for EFA analysis, along with a significant result from
Bartlett's test. Subsequently, scatterplots are utilized to visually represent the linear
relationships between variables. Following that, factor analysis is performed,
necessitating substantial correlations between measured variables (>0.3), Anti-image
values (>0.5), and confirmation of model adequacy (Model Sampling Adequacy - MSA).
 41

EFA demonstrates statistical significance when MSA is present, particularly when the
Kaiser-Meyer-Olin (KMO) coefficient falls within the range of 0.5 ≤ KMO ≤ 1. Moreover,
to determine the optimal number of representative factors aligning with the research
model, Promax rotation (non-orthogonal rotation) is preferred over Varimax rotation
(orthogonal rotation), owing to the involvement of intermediate variables in the research
topic, where variables serve both independent and dependent roles. The selection of
measurement variables involves setting a minimum factor loading threshold of 0.55,
based on the recommendations of Hair et al. (2010), considering sample sizes ranging
from 100 to 350 observations.

In this thesis, EFA is utilized to refine the data and transform observed variables into
latent factors. Consequently, all variables are included in the comprehensive analysis to
determine the structure of the latent factors.

Multiple linear regression analysis

We will rely on the results of factor analysis and examine the correlation between
independent and dependent variables to conduct multiple linear regression analysis.
Regression analysis is not merely describing the observed data. From the observed results
in the sample, we must extrapolate conclusions about the relationships between variables
in the population. The acceptance and interpretation of regression results cannot be
separated from the necessary assumptions and judgments about the violation of those
assumptions. If the assumptions are violated, the estimated results are not reliable (Hoang
Trong & Chu Nguyen Mong Ngoc, 2008).

3.4.3. Moderating variable

The moderation analysis aimed to explore how the interaction between the independent
variable and the moderating variable affects the dependent variable. This analysis utilized
the PROCESS macro by Hayes (2013) for SPSS. The results demonstrated a significant
interaction effect between the independent variable (IV) and the moderating variable (MV)
 42

on the dependent variable (DV) (p < 0.05). This suggests that the association between the
IV and DV is influenced by the level of the MV.

Further investigation of this interaction effect indicated that the relationship between the
IV and DV remained significant at both high and low levels of the MV. However, the
strength and direction of this relationship varied depending on the MV's level. These
findings underscore the moderating role of the MV in shaping the relationship between
the IV and DV. They emphasize the necessity of considering this moderating effect when
interpreting the relationship between these variables, indicating that the impact of the IV
on the DV may differ under different conditions or levels of the MV, necessitating a
nuanced understanding of their relationship.
 43

CHAPTER 4: RESULTS

4.1. Descriptive statistic results

4.1.1. Descriptive statistics of the sample

The author employs descriptive statistics to demonstrate the demographic characteristics
of the subjects regarding their level of interest in the sustainability of the Beauty industry
products. General demographic information will be analyzed in the reference statistics
section in Appendix 2.

Table 2: Descriptive statistics of the demographic characteristics of the study sample.

Frequency Percentage
Indicator
(people) (%)
Never 39 13.0
A few times 87 29.0
Awareness of
Occasionally 120 40.0
Blockchain
Frequently 54 18.0
Total 300 100%

Not interested at all 23 7.7

Not interested 20 6.7

Level of Neutral 88 29.3

Interest
Interested 90 30.0
Very interested 79 26.3
Total 300 100%
0 times/month 20 6.7

Purchase 1-3 times/month 126 42.0

Frequency 3-5 times/month 93 31.0
More than 5 times/month 61 20.3
 44

Frequency Percentage
Indicator
(people) (%)
Total 300 100%
Male 87 29.0
Gender Female 213 71.0
Total 300 100%
<18 years old 87 29.0
18-27 years old 193 64.3
Age
>27 years old 20 6.7
Total 300 100%
From 1 - 3 million VND 30 10.0
From 3 - 5 million VND 24 8.0
Income From 5 - 10 million VND 56 18.7
Over 10 million VND 190 63.3
Total 300 100%

Source: Compiled by the author from SPSS results.

From the data collection phase, a total of 345 surveys were conducted. Among these, 45
responses were deemed invalid due to incomplete information. Therefore, the valid
sample size used for the study was 300 survey responses.

The descriptive statistics of the demographic characteristics of the survey sample are
summarized in Table 2. Here, the author analyzes some demographic characteristics of
the survey sample:

- Gender: The survey sample comprised 87 males, 213 females, with males accounting
for 29.0% and females 71.0%. Thus, it can be observed that the number of consumers of
beauty products is higher among females compared to males.
 45

- Age: The age group of 18-27 years old had the highest proportion at 64.3%, followed
by the under 18 group at 29.0%, and the remaining were over 27 years old. This indicates
that the primary consumers of beauty products are younger individuals, typically
unmarried.

- Income: The highest proportion (190 responses) belonged to the income group over 10
million VND, followed by the group from 5 million to 10 million VND with 56 responses.
The remaining responses were distributed among the income groups from 1 to 3 million
VND and from 3 to 5 million VND. This aligns with the observation that the primary
consumers of these products are young and just beginning to purchase based on their
income.

- Awareness of Blockchain: The data showed that a significant portion of survey

participants had heard of Blockchain, particularly through regular sources of information.
This indicates the widespread familiarity with Blockchain within the community.

- Level of Interest: The majority of survey participants (approximately 56%) expressed

interest in Blockchain, with a certain number feeling very interested or completely
interested. This may reflect an increased awareness of the potential and applications of
this technology across various fields.

- Purchase Frequency: The results indicated a significant number of consumers

purchasing goods on Blockchain, with most of them making purchases at least several
times a month. This demonstrates the practical acceptance and utilization of Blockchain
in business and consumer transactions.

4.1.2. Descriptive Statistics of Likert Scale

The descriptive statistics results from the SPSS software (see Appendix 3) indicate that all
observed variables on the Likert scale range from 1 (Strongly Disagree) to 5 (Strongly
Agree). This suggests that customers purchasing beauty products in Vietnam have diverse
and varied opinions regarding Blockchain.
 46

Most independent variables exhibit mean values greater than 3.0, indicating that
customers hold high evaluations regarding the factors of broker service quality referenced
in the questionnaire table. Specifically, variables GW5 exhibit the highest mean values at
4.10, indicating high customer agreement regarding the Greenwashing Perception factor.

The observed variables of the dependent variable range in mean values from 3.45 to 4.10.
This suggests that, overall, customers purchasing beauty products hold relatively high
evaluations of Blockchain in general.

4.2. Analysis of Cronbach's Alpha Coefficient

The analysis outcomes of Cronbach's Alpha coefficient for the designated scale indicate
that the majority of factors satisfy the criteria as established in Chapter 3. Specifically, for
the dimensions encompassing Green Brand Trust (BT), Greenwashing Perception (GW),
Blockchain (BC), and the correlated variable of Green Purchasing Intention (PI), the
Cronbach's Alpha coefficients range from 0.722 to 0.937, all meeting the threshold of
greater than 0.7 (as depicted in Table 3). Furthermore, the inter-item correlation
coefficients among most variables within each dimension fulfill the prerequisite of being
above 0.3 (except for BT5). Consequently, these scales exhibit reliability, with all
observed variables within these scales deemed acceptable and applicable for the
subsequent exploratory factor analysis (EFA) stage.

Out of the 17 observed variables proposed in the research, one observed variable, BT5,
was deemed unfit for inclusion within the model. Therefore, the findings from Cronbach's
Alpha analysis for each dimension are illustrated in Table 3.
 47

Table 3. Official Results of the Proposed Research Model's Cronbach's Alpha

Coefficients.

Index Scale Cronbach's Alpha coefficient

0.722 (the first run)

1 Green Brand Trust (BT)
0.887 (the second run)
2 Greenwashing Perception (GW) 0.937
3 Blockchain (BC) 0.920
4 Green Purchasing Intention (PI) 0.899

Source: Aggregated based on results from SPSS

(Executed during the second analysis run after variable exclusion).

Note: The second run of the Green Brand Trust analysis is conducted subsequent to the
exclusion of BT5. Consequently, Cronbach's Alpha coefficients for BT, GW, BC, and PI
are 0.887, 0.937, 0.920, and 0.899, respectively. These coefficients all meet the
theoretical requirements.

4.3. Exploratory Factor Analysis (EFA)

4.3.1. Exploratory Factor Analysis (EFA) with Independent Variables

The results of the EFA analysis for the independent variables are presented in Appendix 8.
The findings indicate that Bartlett's test with a significance level of Sig. = 0.000 < 0.05
suggests that the observed variables in the factor analysis are correlated with each other
overall. The KMO measure of sampling adequacy is 0.896, exceeding the threshold of 0.5,
indicating that the factor analysis is suitable for the research data. All observed variables
have factor loading coefficients greater than 0.5 and are categorized into 3-factor groups.
The Eigenvalues for all 5 factors are greater than 1. The total variance extracted is
81.179%, exceeding the 50% threshold, indicating that these 5 factors explain 81.179% of
the data variance.
 48

Table 4. Results of the Exploratory Factor Analysis (EFA) for the Independent
Variables

1 2 3 4
Greenwashing
.885
Perception 4
Greenwashing
.882
Perception 5
Greenwashing
.851
Perception 3
Greenwashing
.834
Perception 2
Greenwashing
.830
Perception 1
Blockchain 4 .910
Blockchain 1 .866
Blockchain 3 .863
Blockchain 2 .858
Green Brand Trust 1 .861
Green Brand Trust 4 .834
Green Brand Trust 3 .826
Green Brand Trust 2 .790

Source: Compiled based on results from SPSS.

After obtaining 13 independent observed variables following the Cronbach’s Alpha test,
the researcher proceeded to conduct an exploratory factor analysis (EFA) on these
independent variables, resulting in the formation of 3 factors as follows:

The first factor consists of variables Greenwashing 4, Greenwashing 5, Greenwashing 3,

Greenwashing 2, and Greenwashing 1 from the Greenwashing Perception scale
converging into a single factor. Therefore, this factor group is collectively referred to as
“Greenwashing Perception”.
 49

The second factor comprises variables Blockchain 5, Blockchain 2, Blockchain 4, and

Blockchain 3 from the Blockchain Technology scale converging into one factor. Hence,
this factor group retains the name “Blockchain”.

The third factor includes variables Brand Trust 1, Brand Trust 4, Brand Trust 3, and
Brand Trust 2 from the Green Brand Trust scale converging into a single factor. Thus, this
factor group also retains the name “Green Brand Trust”.

4.3.2. Exploratory Factor Analysis (EFA) with Dependent Variables

Table 5: Results of the Exploratory Factor Analysis (EFA) for Dependent Variables

Eigenvalues
Factor Total Explained
Total Explained Variance (%)
Variance
1 2.503 83.446 83.446
2 .265 8.829 92.275
3 .232 7.725 100.000

KMO Measure 0,753

Sig. 0,000

Source: Compilation based on results from SPSS.

The analysis results indicate that Bartlett's test with a significance level of Sig. = 0.000 <
0.05 suggests that the data used for factor analysis is entirely suitable. The KMO measure
is 0.753, satisfying the condition of 0.5 < 0.753 < 1, indicating appropriateness for factor
analysis usage. One factor is extracted from the EFA analysis. The Eigenvalues are
greater than 1, meeting the condition for factor extraction. The total explained variance is
83.446%, exceeding 50%, indicating that the factor explains 83.446% of the data
variability. All observed variables have factor loading coefficients exceeding the
requirement of 0.5.
 50

The EFA analysis is completed, and four proposed factors are included for validation.

4.4. Linear regression analysis

4.4.1 Check the correlation coefficient between variables

Table 6: Correlation coefficient matrix between variables

Green Green
Greenwashing
Purchasing Brand Blockchain
Perception
Intention Trust

Green Correlation 1 .650** .668** .490**

Purchasing coefficients
Intention Sig. .000 .000 .000
Correlation .650** 1 .474** .333**
Green Brand coefficients
Trust
Sig. .000 .000 .000
Correlation .668** .474** 1 .371**
Greenwashing coefficients
Perception
Sig. .000 .000 .000
Correlation .490** .333** .371** 1
Blockchain coefficients
Sig. .000 .000 .000
Significance level:

*: Correlation significant at the 5% level (2-tailed).

**: Correlation significant at the 1% level (2-tailed).

Source: Compiled from SPSS results.

The findings from the correlation analysis presented in Table 6 reveal noteworthy insights
regarding the relationship between the independent variables and the dependent variable
Green Purchasing Intention. There is a discernibly robust Pearson correlation coefficient
 51

observed between the independent variables and Green Purchasing Intention. Despite this,
the significance values (Sig.) associated with these correlation coefficients are all below
the conventional threshold of 0.05, indicating statistical significance. This underscores a
significant and tight correlation between the independent variables and the dependent
variable within the model framework.

Given the statistically significant correlations, it is evident that the independent variables
possess a strong explanatory power in relation to the dependent variable Green
Purchasing Intention. Consequently, all independent variables are deemed suitable
candidates for inclusion in the subsequent regression analysis, aimed at elucidating the
factors influencing the dependent variable Green Purchasing Intention.

Furthermore, it is noteworthy to observe the emergence of strong correlations among

pairs of independent variables. The Pearson correlation coefficients exceeding 0.3,
coupled with significance values less than 0.05, underscore the presence of pronounced
associations between these independent variables. This highlights the necessity for a
cautious approach when conducting the regression analysis, necessitating a thorough
examination for potential issues of multicollinearity among the variables. Such scrutiny
ensures the robustness and validity of the regression model's findings and interpretations.

4.4.2. Regression model selection

The selection of the multiple regression model employing the Ordinary Least Squares
(OLS) technique was made to explore the intricate factors influencing consumers'
decisions regarding the purchase of beauty care products. This model, widely utilized in
prior research endeavors, offers a robust framework to delve into the impact of one or
more independent variables on a dependent outcome. Specifically, in dissecting the
determinants of consumers' intentions to purchase beauty items, the model takes the form:

PI = β0 + β1.BT + ε, Where:
 52

- PI (Green Purchasing Intention) represents the dependent variable, denoting the

intention of consumers to procure beauty products. The independent variable BT (Green
Brand Trust) stands alone in the analysis.

- β0 signifies the intercept coefficient, reflecting the average value of the dependent
variable when all independent variables are zero.

- βi (i=11) denotes the regression coefficient corresponding to the variable Green Brand
Trust. It quantifies the change in the dependent variable by βi units when the independent
variable Green Brand Trust varies by 1 unit, holding other factors constant.

- ε embodies the random error term, adhering to a normal distribution with a mean of 0
and a variance of σ. This term encapsulates the influence of unaccounted factors on the
model's outcome.

Additionally, the study employed multiple regression analysis with the dependent variable
"Green Purchasing Intention" and one independent variable. Utilizing the simultaneous
method (Enter), all variables were simultaneously included in the analysis, providing a
comprehensive examination of their collective influence on consumers' Green Purchasing
Intention.

4.4.3. Determining the importance of variables in the model

Table 7: Results of Regression Analysis

Unstandardized Standardized
Coefficients Coefficients
Independent
Variable t Sig.
B Std. Error Beta

Constant 1.137 .167 6.829 .000

Green Brand
.658 .045 .650 14.769 .000
Trust
 53

Note: a. Dependent Variable: Green Purchasing Intention

Source: Compiled based on results from SPSS

The significance level (Sig.) of all independent variables in the regression model is found
to be less than 0.05. This indicates that the probability of observing the obtained
regression coefficients if the true coefficients were actually zero is very low. Hence, we
can confidently reject the null hypothesis that the regression coefficients are equal to zero,
suggesting that the independent variable Green Brand Trust plays a significant role in
explaining the variation in the dependent variable, the intention to purchase "green"
products.

In simpler terms, the independent variable Green Brand Trust has a meaningful impact on
the intention to purchase environmentally friendly products. This implies that changes in
the variable Green Brand Trust are associated with changes in the intention to purchase
"green" products, as indicated by its regression coefficient.

Therefore, based on the regression analysis, the standardized linear regression equation of
the model can be interpreted as follows: for every one-unit increase in the independent
variable BT, we can expect a 0.658-unit increase in the intention to purchase "green"
products, holding all other variables constant.

Overall, these findings provide valuable insights into the factors influencing consumers'
intentions to purchase environmentally friendly products, with Green Brand Trust being a
particularly significant predictor in this context.

4.4.4. Evaluation and Testing Model Fit

Table 8: Summary of factors that necessary in regression analysis

R Adjusted R Std. Error of the Durbin -

R
Square Square Estimate Watson
 54

0.650 0.423 0.421 0.5108 2.081

Note: a. Predictors: (Constant), Green Brand Trust; b. Dependent Variable: Green
Purchasing Intention

Source: Compiled based on results from SPSS.

The coefficient of determination, often denoted as R2, serves as a crucial metric in

gauging the extent to which the independent variables explain the variance observed in
the dependent variable (Nguyen Dinh Tho, 2012). In the context of Ordinary Least
Squares (OLS) regression, our analysis unveiled an R2 value of 0.42. However, to
provide a more accurate assessment of the model's adequacy in the realm of multiple
linear regression, we turn to the adjusted R2.

The adjusted R2 serves as a refined measure of the model's fitness, particularly in

scenarios involving multiple predictors, as it adjusts for the potential bias introduced by
the magnification effect of R2. With an adjusted R2 of 0.42, our findings suggest that the
independent variables collectively elucidate 42% of the variability witnessed in the
dependent variable. Conversely, the remaining 58% of variance can be attributed to
residual satisfaction, encapsulating nuances such as measurement inaccuracies and
unaccounted-for factors that have not been integrated into the regression model.

Table 9: F-test for Regression Analysis

Sum of Squares df Mean Square F Sig.

Regression 56.914 1 56.914 218.133 .000

Residual 77.752 298 .261

Total 134.665 299

Source: Compiled from SPSS results

The F-test is a statistical evaluation of the collective suitability of the linear regression
model, with the objective of determining the statistical significance of the R2 coefficient.
 55

This assessment aims to ascertain whether the dependent variable is effectively accounted
for by the independent variables within the model through a linear association, from a
statistical standpoint.

The hypothesis framework for evaluating the model's adequacy is delineated as follows:

H0: β1 = 0

H1: At least one βi ≠ 0 (where i ranges from 1 to 1)

To assess the validity of the null hypothesis H0, the F-statistic is brought into play.
Should the significance level (Sig.) associated with the F-statistic fall below 0.05, it
signals the rejection of the null hypothesis H0. The F-value, essential for this test, is
extracted from the ANOVA variance analysis table incorporated within the SPSS-derived
multiple regression outcomes, as depicted in Table 9.

Upon scrutiny, the computed F-statistic registers at 218.133, accompanied by a Sig. value
of 0.000, which is less than the conventional significance threshold of 0.05. Consequently,
the null hypothesis H0 is firmly dismissed. This outcome underscores that the multiple
linear regression model established manifests a commendable fit with the dataset under
consideration. Furthermore, it emphasizes that the independent variables encapsulated
within the model wield a substantial influence on the dependent variable. Thus, it is
judicious to conclude that the model under scrutiny exhibits a commendable level of
appropriateness.
 56

4.5. Results of Moderating Variables Analysis

Figure 7: Model estimation results with Greenwashing as moderating variable

Figure 8: Scatter Plot with Greenwashing as moderating variable

The research findings demonstrate significant impacts from Green Brand Trust and
Greenwashing Perception on Purchasing Intention. Additionally, the moderating effect of
the Greenwashing variable still does not greatly influence the impact of Brand Trust on
Purchasing Intention, although present, it is not significant. However, this still indicates
the presence of Greenwashing's impact within the model.
 57

Furthermore, with assurance regarding the absence of greenwashing, an individual's

purchasing intention is also higher compared to when they suspect a brand engages in
greenwashing. This can be observed through Figure 8. However, the growth in customer
purchasing intention does not increase significantly even with assurance, indicating that
apart from the greenwashing issue, customers are also concerned about other factors.

Figure 9: Results of model estimation with Blockchain Technology as the moderating

variable.
 58

Figure 10: Scatter Plot with Blockchain Technology as moderating variable

The research findings indicate significant effects from Green Brand Trust and Blockchain
on Purchasing Intention. Furthermore, although the moderating influence of the
Blockchain variable on the impact of Brand Trust on Purchasing Intention is present, it is
not substantial. Nonetheless, this suggests that Blockchain still plays a role within the
model.

Moreover, when individuals are assured of the absence of Blockchain, their purchasing
intention is higher compared to when they suspect a brand engages in Blockchain. This
observation is evident in Figure 8. However, the growth in customer purchasing intention
does not see a significant increase even with assurance, indicating that besides the
Blockchain concern, customers also consider other factors.

4.6 Discussions

4.6.1 Contributions to Theoretical Field

Firstly, the results confirm the positive impact of trust in green brands on consumers'
Green Purchasing Intention, which is consistent with previous studies (Li et al., 2021).
Specifically, regression analysis reveals a regression coefficient B = 0.658 between trust
in green brands and Green Purchasing Intention, with statistical significance at p < 0.001.
Additionally, the Adjusted R Square coefficient = 0.421, indicating that the trust variable
explains 42.1% of the variance in purchase intention. This demonstrates the significant
role of trust in green brands in promoting green consumer behavior, as noted by Li et al.
(2021).

Brands' intentional adoption of Greenwashing Perception strategies to gain customer trust

inadvertently leads to negative impacts on consumers' Green Purchasing Intention.
Greenwashing Perception also fosters consumer skepticism towards green product
choices. Consequently, brands need to implement appropriate measures to mitigate
consumer perceptions of Greenwashing Perception and distrust. In this context,
 59

Blockchain technology positively influences consumers' Green Purchasing Intention by

providing transparency and traceability in supply chains, thereby enhancing consumer
trust in product origins and manufacturing processes. However, the application of
Blockchain to reinforce trust and Green Purchasing Intention still faces limitations. This
could stem from brands' ineffective deployment of the technology, leading consumers to
lack trust in its efficacy. Additionally, for target audiences such as students, which this
study aims to address, Blockchain technology remains relatively unfamiliar, and its
application is still in its nascent stages, thus not significantly impacting consumer Green
Purchasing Intention.

By directly utilizing numerical findings, this study provides experimental validation for
theoretical propositions concerning the interaction of key psychological factors
influencing green consumption, such as Green Brand Trust, Greenwashing Perception,
and emerging technologies like blockchain. Overall, this research contributes novel
insights into theoretical frameworks, drawing upon the works of Li et al. (2021), Delmas
& Burbano (2011), and Haws et al. (2014).

4.6.2 Contributions to Practice

Research also holds practical significance. Emphasizing the importance of fostering trust
in sustainable-oriented beauty businesses, a positive relationship is established between
trust in green brands and purchase intention. Green brands must effectively convey their
commitments and engage in transparent activities to build reputable trustworthiness.

Identifying Greenwashing Perception as detrimental to trust-intention relationships warns

against misleading claims that damage credibility. Brands should ensure marketing
messages are supported by standardized certifications and avoid superficial or
exaggerated environmental descriptions.

Notably, findings indicate that the application of blockchain enhances the influence of
trust on consumers' willingness to purchase green products. This underscores the strategic
 60

potential of leveraging emerging technologies to promote sustainable value propositions.

Cosmetic enterprises can explore implementing blockchain solutions to digitally track raw
materials, authenticate sustainable attributes, and achieve end-to-end supply chain
visibility.

By attracting more trust through accountable explanations on the blockchain, brands can
strengthen their positions as reliable green choices. Looking forward, industries and
regulatory bodies can collaborate to develop blockchain frameworks and standards to
optimize origin-tracing systems.

Regarding Blockchain, the need for an impact on regulating the relationship between trust
and Green Purchasing Intention may partly stem from businesses' failure to establish
comprehensive blockchain systems.

In general, this research illuminates actionable strategies to nurture brand values,

minimize trust-diminishing behaviors, and reinforce trust relationships for the future
through innovative technologies. These profound insights guide sustainable beauty brands
to promote appropriate green consumer behaviors and develop robust long-term
relationships within the community.
 61

CHAPTER 5: CONLUSION AND MANAGERICAL IMPLICATIONS

5.1. Theoretical implications

The study "Sustainable Beauty Industry: The Role of Greenwashing Perception and
Blockchain" aims to explore the influence of Greenwashing Perception on consumer
perception and the potential role of Blockchain technology in this context. Drawing upon
existing research on consumers' inclination towards purchasing eco-friendly products, the
research team developed a theoretical model. This model elucidates the relationship
between the independent variable, Green Brand Trust, and the dependent variable,
consumers' intention to purchase green products in Ho Chi Minh City. Additionally, the
study investigates the moderating effects of two variables, namely Greenwashing
Perception and blockchain technology, on this relationship.

The positive impact of Green Brand Trust and Green Purchasing Intention.

This study establishes a direct correlation and highlights the favorable impact of Green
Brand Trust on Green Purchasing Intention. This finding aligns with prior research
conducted by Huang et al. (2014), Mostafa (2007), Situmorang et al. (2021), and Suki
(2016), which delve into the role of green brand positioning in promoting Green
Purchasing Intention. Within this context, Amoako et al. (2020) and Situmorang et al.
(2021) found a positive attitude towards green products increases green purchase
intentions. Yu-Shan (2010) suggests trust in a product's sustainable development, based
on reliability, friendliness, and competence, enhances consumer confidence. Consumers'
trust in a company's environmental performance reflects credibility, reliability, and
adherence to industry standards.

The stronger the consumers’ Greenwashing Perception, the greater the negative effect of
consumers’ Green Brand Trust on their Green Purchasing Intention.

Based on the findings from Chapter 4, which included linear regression analysis and
analysis of demographic factors, alongside examining the interaction effect of the
 62

standardized weight of the moderator variable between Greenwashing Perception and

Trust, it is evident that the level of customer awareness regarding Greenwashing
Perception significantly impacts the relationship between trust and purchase intention.
When customers have lower awareness of Greenwashing Perception, trust positively
influences purchase intention. Conversely, higher awareness of Greenwashing Perception
diminishes purchase intention. These outcomes are consistent with the discoveries made
by Nguyen et al. (2019), which highlight the mediating function of green skepticism in
linking Greenwashing Perception with green purchase intention, as well as with the
observations of Akturan, U. (2018) and Newton et al. (2015), indicating that
Greenwashing Perception influences consumer perceptions and attitudes, fostering
suspicion and distrust toward corporate green advertising practices, consequently
diminishing consumers' inclination towards green purchases (Jahdi and Acikdilli, 2009).
This consistency highlights the validity of the hypothesis. It suggests that as customers
become more informed and cautious about Greenwashing Perception practices by brands,
they tend to exhibit greater scrutiny and demand regarding green products.

The more extensively blockchain is implemented, the more significant the positive impact
of consumers' trust in green brands on their intention to make environmentally friendly
purchases.

Blockchain, emerging as a technology, offers a secure, trusted, and decentralized solution

within the digital realm. By facilitating a stronger trust bond between consumers and
producers, it enhances brand perception and competitiveness (Fleischmann et al., 2020).
Consulting firms, including McKinsey, validate blockchain's added layer of credibility
(Galea-Pace, 2020). Furthermore, Treiblmaier and Garaus (2023) found that blockchain-
based traceability labels positively impact purchase intentions.

Yet, as outlined in Chapter 4 of the article regarding the analysis of indicators reveals the
interaction effect of the moderating variable between Blockchain Technology and Trust.
Specifically, there is no moderating effect of Blockchain Technology between Trust and
Purchase Intention. The variance in study results compared to previous research could
 63

stem from certain limitations inherent in blockchain technology. This study focuses on
Gen Z individuals residing and working in Ho Chi Minh City. Consequently, variations in
sample size and demographic characteristics might contribute to differing conclusions
compared to prior studies. In Vietnam, blockchain technology remains novel to most
consumers, resulting in limited experience with it. Moreover, implementing blockchain
poses challenges, including the computational costs associated with processing and
storing transaction history across all nodes can be prohibitive for larger networks,
resulting in latency issues. Furthermore, the distributed nature of blockchain architecture
can limit centralized governance, which may pose challenges for oversight-based
organizations. Alternatively, the reasons could stem from customers' apprehension about
adopting technology or the ineffective communication strategies employed by brands
utilizing blockchain technology to enhance consumer trust. Consequently, the hypothesis
regarding the positive impact of blockchain technology on customers' Green Brand Trust
and Green Purchasing Intention remains unverified.

5.2. Managerial implications

Even though numerous studies have highlighted the positive impacts of blockchain
technology, the research findings indicate that Blockchain has not significantly influenced
building customer trust in purchasing. This may stem from the existing limitations and
technological risks that need thorough resolution. Therefore, businesses should carefully
consider how to integrate Blockchain features with their current brand positioning and
market presence to effectively implement a Blockchain business model.

The study also reveals a negative correlation between consumer perception of

Greenwashing Perception and their intention to make purchases. As a result, brands
should develop a targeted green brand strategy accompanied by a robust plan to enhance
trust and demonstrate transparency in their environmentally friendly products. This
involves constructing a promotional strategy and communicating the environmental goals
of their products clearly and sincerely.
 64

5.3. Limitations and further research

Although this research highlights the beneficial impact of blockchain technology in

enhancing customer trust and reducing Greenwashing Perception, consequently
increasing customer purchase intention, the broader adoption of Blockchain-based
solutions in the relationship between brands and consumers is not yet apparent. This is
largely due to several significant technological limitations and barriers that still need to be
addressed.

About the technology restriction, firstly, the immutability of blockchain data can pose
challenges for use cases requiring privacy or flexibility in transaction changes. Secondly,
the computational costs associated with processing and storing transaction history across
all nodes can be prohibitive for larger networks, resulting in latency issues.Thirdly, the
distributed nature of blockchain architecture can limit centralized governance, which may
pose challenges for oversight-based organizations. Although blockchain offers significant
benefits in certain contexts, its limitations must be carefully considered for optimal
application in various use cases (Axios, 2018; Böhme et al., 2015; Coyne & McMickle,
2017; Drescher, 2017; Forester, 2018). Therefore, future research can focus more deeply
on solutions to limit the disadvantages of blockchain technology in its application to the
beauty and health care industries.

About limitations in the process of conducting research, firstly, it's important to note that
this study solely examines the beauty sectors. Secondly, the study focuses on Generation
Z with the ages between 18 and 27, whereas the beauty industry encompasses a diverse
range of age demographics. Thirdly, sample collection limitations have resulted in a
skewed gender distribution among subjects, with 70% being female and 30% male. This
disparity may stem from the research's focus on beauty care - a domain typically
associated with women's interests. Additionally, women have shown greater willingness
to participate in surveys compared to men during the sampling process, contributing
further to gender imbalance in the sample. Another constraint of the study is its failure to
elucidate the influence of blockchain on consumer intentions and behavior. This shortfall
 65

is attributed to the novelty of blockchain technology in the surveyed locale. Many

sampled individuals are unfamiliar with blockchain, thus impacting the research outcomes
in unexpected ways. Moreover, the study's reliance on questionnaires distributed to
purchasers and the simultaneous measurement of all variables during a single timeframe
presents certain limitations in establishing causality and regulating each variable.
Therefore, future research initiatives might consider widening their sampling range to
examine the determinants of purchase intent among diverse demographic groups.
Furthermore, upcoming studies could explore alternative experimental approaches for
measurement. Also, broadening the research scope to encompass cross-cultural contrasts
across multiple nations and categorizing participants into distinct groups could yield a
more nuanced comprehension of the subject matter.

5.4. Conclusion

This study aims to explore the impact of blockchain technology on enhancing

transparency and sustainability within the beauty industry, alongside examining the
effects of Greenwashing Perception on consumer trust and purchase intentions. Research
findings indicate a negative relationship between awareness of Greenwashing Perception
and consumer purchase intentions. Based on these findings, brands are urged to develop
targeted green brand strategies and robust plans to bolster trust and demonstrate
transparency in their eco-friendly product offerings. However, in today's intricate global
market, enforcing and regulating certifications has become increasingly challenging and
costly. To address this issue, a combination of legally enforced certifications and
blockchain technology, providing access to transparent information, can empower
consumers and foster competitiveness for genuinely sustainable products. Yet, while
research suggests blockchain's potential, its specific role in enhancing consumer green
trust remains unconfirmed. Hence, brands should carefully consider the alignment of
blockchain features with their existing brand positioning and market presence to
effectively integrate blockchain into their business models. We encourage further research
 66

in this domain to advance the understanding about application of blockchain technology

in fostering sustainability within industries.
 67

ACKNOWLEDGEMENT

The team would like to express sincere and profound gratitude to the Board of Directors
and faculty members of the University of Economics and Law (UEL) for their steadfast
support and guidance throughout our study and research period.

We extend special thanks to Ms. Lê Thị Hải Yến, who provided direct instruction and
assistance to our group regarding knowledge, materials, and methodologies necessary for
the successful completion of this scientific research project.

Despite our utmost efforts during the research process, the study still possesses certain
deficiencies due to our limited knowledge base. Therefore, we earnestly seek constructive
feedback and guidance from our esteemed professors to refine our research work.

Finally, the group hopes that the outcomes of this research will prove beneficial to the
community and find application in relevant fields.

Thank you very much!

 68

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 78

APPENDICES

APPENDIX 1: OFFICIAL SURVEY QUESTIONNAIRE

“Xin chào mọi người,

Lời đầu tiên nhóm mình xin cảm ơn Mọi người đã dành thời gian quan tâm và tham gia
hỗ trợ khảo sát giúp nhóm chúng mình.
Hiện nay nhóm mình đang trong giai đoạn làm nghiên cứu sơ khảo cho đề tài " TÍNH
BỀN VỮNG TRONG NGÀNH LÀM ĐẸP VÀ CHĂM SÓC SỨC KHỎE: VAI TRÒ
CỦA BLOCKCHAIN "
Nhóm chúng mình thật sự rất biết ơn thời gian mọi người đã bỏ ra để tham gia bài khảo
sát này. Những ý kiến của mọi người có ý nghĩa vô cùng to lớn và quý báu đối với sự
thành công của đề tài. Chúng mình xin cam kết sẽ bảo mật mọi thông tin được cung cấp
trong khảo sát và chỉ sử dụng nhằm mục đích phục vụ cho việc nghiên cứu đề tài.
Nhóm nghiên cứu xin chân thành cảm ơn mọi người vì đã dành thời gian hoàn thành
phần khảo sát này!”

Phần 1: Thông tin chung

“Greenwashing Perception là cụm từ để chỉ khi các công ty sử dụng chiến lược tiếp thị
để tạo ra ấn tượng rằng sản phẩm của họ là thân thiện với môi trường hơn so với các sản
phẩm khác, nhưng thực tế không phải vậy. Các công ty có thể sử dụng các từ ngữ như
"hữu cơ", "tự nhiên" một cách mơ hồ hoặc làm cho bao bì và quảng cáo của họ có vẻ
"xanh" để thu hút người tiêu dùng, mặc dù sản phẩm đó có thể vẫn chứa các hóa chất độc
hại hoặc không đáp ứng đúng các tiêu chuẩn môi trường

Công nghệ Blockchain là một hệ thống lưu trữ thông tin và không thể thay đổi, giúp
đảm bảo tính minh bạch và an toàn của dữ liệu. Blockchain được ứng dụng trong việc tạo
ra hệ thống theo dõi nguồn gốc và quy trình sản xuất của các sản phẩm làm đẹp và chăm
sóc sức khỏe, đảm bảo cho thông tin xuất xứ của sản phẩm, quy trình sản xuất và
vận chuyển có thể được ghi lại một cách chính xác và rõ ràng.
 79

Ví dụ về Greenwashing Perception và Blockchain: Công ty mỹ phẩm LUSH

Lush, một công ty mỹ phẩm nổi tiếng với việc sử dụng nguyên liệu tự nhiên và bảo vệ
môi trường, đã tiên phong trong việc sử dụng Blockchain để theo dõi nguồn gốc của các
thành phần trong sản phẩm của họ. Họ đã triển khai một dự án gọi là "Open Sourcing
to All" (OSA) dựa trên Blockchain, cho phép người tiêu dùng truy cập thông tin về
nguồn gốc và hành trình của các thành phần từ khi chúng được thu mua cho đến khi
được sử dụng trong sản phẩm cuối cùng.”

Vui lòng chọn phương án phù hợp nhất

Bạn đã bao giờ nghe đến Blockchain hay chưa?

____ Chưa từng ____ Vài lần ____ Thỉnh thoảng ____ Thường xuyên

Mức độ quan tâm của bạn đến tính minh bạch của sản phẩm khi mua sản phẩm
thuộc ngành hàng làm đẹp và chăm sóc sức khỏe?

____ Hoàn toàn không quan tâm ____ Không quan tâm

____ Quan tâm ____ Hoàn toàn quan tâm

Bạn có hay mua sản phẩm làm đẹp và chăm sóc sức khỏe có nguồn gốc thiên
nhiên/thuần chay hay không?

____ 0 lần/ tháng ____ 1-3 lần/ tháng

____ 3-5 lần/ tháng ____ Trên 5 lần/ tháng

Phần 2: Khảo sát chính

 80

“Phần khảo sát này dựa trên những trải nghiệm mua hàng trước đây của anh/chị về
Mua sắm Mỹ phẩm làm đẹp và Chăm sóc sức khỏe. Anh/Chị cho biết mức độ đồng ý
của mình đối với các phát biểu dưới đây qua 5 mức độ từ thấp đến cao.”
(1 = "Hoàn toàn không đồng ý" đến 5 = "Hoàn toàn đồng ý")

Nội dung

Ý ĐỊNH MUA HÀNG “XANH” : khi tôi biết rằng đây là một nhãn thân thiện với
môi trường, tôi sẽ…

Sẵn sàng mua các sản phẩm khác từ công ty này. 1 2 3 4 5

Cảm thấy hài lòng khi mua sản phẩm của công ty này.
1 2 3 4 5

Sẽ giới thiệu với người khác về sản phẩm của công ty này.
1 2 3 4 5

TÁC ĐỘNG CỦA "GREENWASHING PERCEPTION": Tôi sẽ không mua sản

phẩm này nếu như...

Sản phẩm này lừa dối bằng những TỪ NGỮ về tính năng “xanh” của
1 2 3 4 5
nó.

Sản phẩm này lừa dối bằng những HÌNH ẢNH MINH HỌA về tính
1 2 3 4 5
năng “xanh” của nó.
 81

Sản phẩm này có những tuyên bố “xanh” mơ hồ, không chứng minh
1 2 3 4 5
được.

Sản phẩm này phóng đại, cường điệu về tính năng “xanh” của nó.
1 2 3 4 5

Sản phẩm này che giấu, giả mạo thông tin, khiến cho tuyên bố
1 2 3 4 5
“xanh” của hãng tốt đẹp hơn thực tế.

NIỀM TIN THƯƠNG HIỆU: Tôi có xu hướng mua hàng của thương hiệu này vì...

Tôi cảm thấy tin tưởng vào thương hiệu này

1 2 3 4 5

Thương hiệu này đảm bảo sự hài lòng của tôi

1 2 3 4 5

Thương hiệu này có trách nhiệm với môi trường

1 2 3 4 5

Thương hiệu này có tính bền vững

1 2 3 4 5

Thương hiệu này trung thực và chân thành giải quyết những lo lắng
1 2 3 4 5
của tôi

CÔNG NGHỆ BLOCKCHAIN: Khi tôi biết thương hiệu này có sử dụng
blockchain,
 82

Tôi tin rằng ảnh hưởng của cộng đồng đối với việc sử dụng công
1 2 3 4 5
nghệ blockchain để theo dõi sản phẩm ảnh hưởng tích cực đến ý định
mua của tôi.

Việc chia sẻ của người khác về việc sử dụng blockchain để theo dõi
1 2 3 4 5
sản phẩm là yếu tố quan trọng ảnh hưởng đến quyết định mua sắm
của tôi.

Tôi cảm thấy thoải mái và quen thuộc khi sử dụng blockchain để
1 2 3 4 5
kiểm tra nguồn gốc của sản phẩm trước khi thực hiện mua sắm.

Tôi tin tưởng vào khả năng của công nghệ blockchain cung cấp thông
1 2 3 4 5
tin chính xác và minh bạch về nguồn gốc của sản phẩm.

Phần 3: Thông tin cá nhân

Bạn thuộc giới tính nào?

____ Nam ____ Nữ ____ Khác

Bạn thuộc lứa tuổi nào?

____ <18 tuổi ____ 18-25 tuổi ____ >27 tuổi

Thu nhập bình quân hàng tháng của bạn là bao nhiêu? (Bao gồm thu nhập cá
nhân và phụ cấp từ gia đình)

____ Từ 1 - 3 triệu ____ Từ 3 - 5 triệu

____ Từ 5 - 10 triệu ____ Trên 10 triệu

 83

APPENDIX 2: FREQUENCY STATISTICS FOR DEMOGRAPHIC VARIABLES

2.1 Gender

Frequenc Percent Valid Cumulative

y Percent Percent

Male 38 29.0 29.0 29.0

Fenal 193 64.3 64.3 93.3

e
Valid

Othe
20 6.7 6.7 100.0
r

Total 300 100.0 100.0

2.2 Awareness of Blockchain

Frequenc Percent Valid Cumulative

y Percent Percent

Never 39 13.0 13.0 13.0

A few times 87 29.0 29.0 42.0

Vali
d
Occasionally 120 40.0 40.0 82.0

Frequently 54 18.0 18.0 100.0

 84

Total 300 100.0 100.0

2.3 Level of Interest

Frequenc Percent Valid Cumulative

y Percent Percent

Not 23 7.7 7.7 7.7

interested at
all

Not 20 6.7 6.7 14.3

interested
Vali
Neutral 88 29.3 29.3 43.7
d

Interested 90 30.0 30.0 73.7

Very 79 26.3 26.3 100.0

interested

Total 300 100.0 100.0

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2.4 Purchase Frequency

Frequenc Percent Valid Cumulati

y Percen ve
t Percent

0 times/month 20 6.7 6.7 6.7

1-3 times/month 126 42.0 42.0 48.7

3-5 times/month 93 31.0 31.0 79.7

Vali
d More than 5 61 20.3 20.3 100.0
times/month

0 times/month 300 100.0 100.0

Total 20 6.7 6.7 6.7

2.5 Age

Frequenc Perce Valid Cumulative

y nt Percent Percent

<18 years old 38 12.7 12.7 12.7

Vali
d 18-27 years 199 66.3 66.3 79.0
old
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>27 years old 63 21.0 21.0 100.0

Total 300 100.0 100.0

2.6 Income

Frequenc Percent Valid Cumulative

y Percent Percent

From 1 - 3 30 10.0 10.0 10.0

million VND
From 3 - 5 24 8.0 8.0 18.0

Vali million VND

d From 5 - 10 56 18.7 18.7 36.7
million VND
Over 10 190 63.3 63.3 100.0
million VND
Total 300 100.0 100.0
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APPENDIX 3: DESCRIPTIVE STATISTICS

Descriptive Statistics

Std.
N Minimum Maximum Mean Deviation

BT1 300 1 5 3.69 .775

BT2 300 1 5 3.65 .742

BT3 300 1 5 3.68 .766

BT4 300 1 5 3.69 .784

BT5 300 1 5 3.45 .892

GW1 300 1 5 4.09 .928

GW2 300 1 5 4.09 .967

GW3 300 1 5 3.98 1.010

GW4 300 1 5 4.03 .981

GW5 300 1 5 4.10 .949

BC1 300 1 5 3.65 .919

BC2 300 1 5 3.61 .902

BC3 300 1 5 3.64 .886

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BC4 300 1 5 3.63 .922

PI1 300 1 5 3.55 .704

PI2 300 1 5 3.53 .710

PI3 300 1 5 3.60 .789

Valid N 300
(listwise)

APPENDIX 4: THE RESULT OF CRONBACH'S ALPHA TEST FOR SCALE

RELIABILITY

Appendix 4.1: Independent Variable BT

Trial 1
Reliability Statistics
Cronbach's Alpha N of Items
.722 5

Item-Total Statistics
Scale Mean if Scale Variance if Corrected Item-Total Cronbach's Alpha if
Item Deleted Item Deleted Correlation Item Deleted
BT1 14.46 4.557 .696 .588
BT2 14.51 4.779 .658 .608
BT3 14.48 4.605 .690 .591
BT4 14.46 4.571 .680 .594
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BT5 14.71 7.029 -.077 .887

Trial 2 (Excluding BT5)

Reliability Statistics
Cronbach's Alpha N of Items
.887 4

Item-Total Statistics
Scale Mean if Scale Variance if Corrected Item-Total Cronbach's Alpha if
Item Deleted Item Deleted Correlation Item Deleted
BT1 11.02 4.037 .768 .849
BT2 11.06 4.240 .733 .862
BT3 11.03 4.099 .755 .854
BT4 11.02 4.037 .755 .854

Appendix 4.2: Moderator Variable GW

Reliability Statistics
Cronbach's Alpha N of Items
.937 5

Item-Total Statistics
Scale Mean if Scale Variance if Corrected Item-Total Cronbach's Alpha if
Item Deleted Item Deleted Correlation Item Deleted
GW1 16.20 12.684 .775 .932
GW2 16.20 12.159 .828 .923
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GW3 16.31 11.886 .829 .923

GW4 16.26 11.947 .850 .919
GW5 16.19 12.027 .874 .914

Appendix 4.3: Moderator Variable BC

Reliability Statistics
Cronbach's Alpha N of Items
.920 4

Item-Total Statistics
Scale Mean if Scale Variance if Corrected Item-Total Cronbach's Alpha if
Item Deleted Item Deleted Correlation Item Deleted
BC1 10.89 6.121 .805 .900
BC2 10.92 6.234 .794 .903
BC3 10.89 6.286 .800 .902
BC4 10.90 5.900 .865 .879

Appendix 4.4: Dependent Variable PI

Reliability Statistics
Cronbach's Alpha N of Items
.899 3

Item-Total Statistics
Scale Mean if Scale Variance if Corrected Item-Total Cronbach's Alpha if
Item Deleted Item Deleted Correlation Item Deleted
 91

PI1 7.12 1.988 .790 .866

PI2 7.15 1.945 .810 .850
PI3 7.08 1.743 .810 .853

APPENDIX 5: RESULTS OF EXPLORATORY FACTOR ANALYSIS (EFA) FOR

THE INDEPENDENT VARIABLE AND MODERATOR

Appendix 5.1: KMO and Bartlett's Test of Sphericity

KMO and Bartlett's Test

Kaiser-Meyer-Olkin Measure of Sampling Adequacy. .896
Bartlett's Test of Sphericity Approx. Chi-Square 2990.842
df 78
Sig. .000

Appendix 5.2: Total Variance Explained

Total Variance Explained

Compon Extraction Sums of Rotation Sums of
ent Initial Eigenvalues Squared Loadings Squared Loadings
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% of % of % of
Tot Varian Cumulativ Tot Varian Cumulativ Tot Varian Cumulativ
al ce e% al ce e% al ce e%
1 6.1 47.515 47.515 6.1 47.515 47.515 3.9 30.398 30.398
77 77 52
2 2.2 17.424 64.938 2.2 17.424 64.938 3.2 25.005 55.404
65 65 51
3 1.7 13.785 78.723 1.7 13.785 78.723 3.0 23.319 78.723
92 92 32
4 .41 3.161 81.884
1
5 .38 2.965 84.849
5
6 .34 2.655 87.504
5
7 .34 2.617 90.121
0
8 .29 2.245 92.366
2
9 .26 2.019 94.384
2
10 .20 1.566 95.951
4
11 .20 1.564 97.515
3
12 .18 1.398 98.913
2
13 .14 1.087 100.000
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1
Extraction Method: Principal Component Analysis.

Appendix 5.3: Factor Rotation Matrix

Rotated Component Matrixa

Component
1 2 3
GW4 .885
GW5 .882
GW3 .851
GW2 .834
GW1 .830
BC5 .910
BC2 .866
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BC4 .863
BC3 .858
BT1 .861
BT4 .834
BT3 .826
BT2 .790
Extraction Method: Principal Component Analysis.
Rotation Method: Varimax with Kaiser Normalization.
a. Rotation converged in 4 iterations.

APPENDIX 6: PEARSON CORRELATION ANALYSIS

Correlations

PI BT GW BC

PI Pearson Correlation 1 .650** .668** .490**

Sig. (2-tailed) .000 .000 .000

N 300 300 300 300

BT Pearson Correlation .650** 1 .474** .333**

Sig. (2-tailed) .000 .000 .000

N 300 300 300 300

 95

GW Pearson Correlation .668** .474** 1 .371**

Sig. (2-tailed) .000 .000 .000

N 300 300 300 300

BC Pearson Correlation .490** .333** .371** 1

Sig. (2-tailed) .000 .000 .000

N 300 300 300 300

**. Correlation is significant at the 0.01 level (2-tailed).

APPENDIX 7: REGRESSION ANALYSIS (BT -> PI)

Model Summaryb
Model R R Square Adjusted R Square Std. Error of the Estimate Durbin-Watson
1 .650a .423 .421 .510795077406808 2.081
a. Predictors: (Constant), BT
b. Dependent Variable: PI

ANOVAa
Model Sum of Squares df Mean Square F Sig.
1 Regression 56.914 1 56.914 218.133 .000b
Residual 77.752 298 .261
Total 134.665 299
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a. Dependent Variable: PI
b. Predictors: (Constant), BT

Coefficientsa
Unstandardized Coefficients Standardized Coefficients
Model B Std. Error Beta t Sig.
1 (Constant) 1.137 .167 6.829 .000
BT .658 .045 .650 14.769 .000
a. Dependent Variable: PI

Residuals Statisticsa
Minimum Maximum Mean Std. Deviation N
Predict 1.795377254486 4.428281784057 3.557777777777 .4362868754776 30
ed 084 617 776 31 0
Value
Residua - 2.204622745513 .0000000000000 .5099401896488 30
l 1.428281903266 916 00 16 0
907
Std. -4.040 1.995 .000 1.000 30
Predict 0
ed
Value
Std. -2.796 4.316 .000 .998 30
Residua 0
l
a. Dependent Variable: PI
 97

Charts
Histogram
Dependent variable: PI

Normal P-P of regression Standardized Residual

Dependent Variable: PI
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Scatter plot
Dependent Variable: PI

--END--
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Sincerely thank you, teachers, for taking the time to review!