Corporate restructuring and the performance of manufacturing enterprises in Vietnam: The moderating role of digital transformation
Main Article Content
Abstract
This study examines the moderating role of digital transformation in the relationship between corporate restructuring and firm performance in manufacturing in Vietnam. The sample includes 68 listed manufacturing enterprises in Vietnam from 2011 to 2021 using the generalized method of moments (GMM). The results indicate that an increase in corporate restructuring, including financial, portfolio, and operational, reduces manufacturing enterprises' performance in Vietnam. Digital transformation also negatively affects firm performance in the sector. However, the joint effects of corporate restructuring and digital transformation contribute positively and significantly to the performance of listed manufacturing enterprises in Vietnam. These findings imply that listed firms in the manufacturing sector in Vietnam should implement their corporate restructuring and digital transformation concurrently to support firm performance.
Article Details
Keywords
Corporate restructuring, Digital transformation, Firm performance, GMM, Vietnam
References
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Khin, S., & Ho, T. C. (2020). Digital technology, digital capability and organizational performance: A mediating role of digital innovation. International Journal of Innovation Science, 11(2), 177-195. https://doi.org/10.1108/IJIS-08-2018-0083
Kinyua, F., & Kihara, A. (2021). Influence of organization restructuring on performance of selected media firms in Kenya. Journal of Business and Strategic Management, 6(3), 82–101. https://doi.org/10.47941/jbsm.714
Lanzolla, G., Lorenz, A., Miron-Spektor, E., Schilling, M. Solinas, G., & Tucci, C. L. (2018). Digital transformation: what is new if anything?. Academy of Management Discoveries, 4(3), 378-387.
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Liu, Q.-R., Liu, J.-M., & He, Z.-P. (2023). Digital transformation ambidexterity and business performance. Journal of Enterprise Information Management, 36(5), 1402-1420. https://doi.org/10.1108/JEIM-08-2022-0280
Lombardi, R., & Secundo, G. (2021). The digital transformation of corporate reporting – a systematic literature review and avenues for future research. Meditari Accountancy Research, 29(5), 1179-1208. https://doi.org/10.1108/MEDAR-04-2020-0870
Loonam, J., Eaves, S., Kumar, V., & Parry, G. (2018). Towards digital transformation: lessons learned from traditional organizations. Strategic Change, 27(2), 101-109. https://doi.org/10.1002/jsc.2185
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