Impact Of Technological Innovation On The Performance Of Vietnamese Firms

Document Type : Research Paper

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207 Giai Phong Road, Hanoi, Vietnam

Abstract

Technology innovation on production processes, product quality, and new product expansion contributes to changing firm performance. Thus, this study is conducted to investigate the impact level of technological innovation on financial performance of Vietnamese firms. Data were collected from 8,960 firms for the period from 2015 to 2018. Pooled OLS, FEM and REM were employed for processing data. The results show that there is not enough evidence to state technological innovation influences firm performance of small and medium firms but significantly impacts on firm performance of medium and large firms. The findings also illustrate that regional determinants affect technological innovation of firms in emerging countries and Vietnamese firms as the case study. The results of this research implyies that successful firms are constantly creating and distributing new technological innovation and rapidly applying it to new technologies and products for having a better performance.

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