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Financial performances, entrepreneurial factors and coping strategy to survive in the COVID-19 pandemic: case of Vietnam

Author

Listed:
  • Nguyen, Huan Huu
  • Ngo, Vu Minh
  • Tran, Anh Nguyen Tram

Abstract

Vietnam has been one of a few countries that successfully contained the COVID-19 pandemic. However, aggressive measurements against the pandemic were at the expense of economic activities and companies’ financial performances. This cross-sectional study uses a survey of 672 companies in Vietnam and the logistic regression model to explore companies’ coping strategy choices based on their degree of financial distress, companies’ profiles, entrepreneurial factors, and the interactions between them. The results suggest that companies predominantly selected cost-cutting strategies to deal with the economic shutdown. However, the interactions between financial and entrepreneurial factors could significantly increase the likelihood of selecting growth-focused strategies. Besides, when facing a global pandemic such as COVID-19, managers’ perceptions about the spillover effects of global risks were much more impactful than local risks on companies’ coping strategy selections. This paper can help to inform managers to better deal with the aftermath of the COVID-19 outbreak.

Suggested Citation

  • Nguyen, Huan Huu & Ngo, Vu Minh & Tran, Anh Nguyen Tram, 2021. "Financial performances, entrepreneurial factors and coping strategy to survive in the COVID-19 pandemic: case of Vietnam," Research in International Business and Finance, Elsevier, vol. 56(C).
    • Handle: RePEc:eee:riibaf:v:56:y:2021:i:c:s0275531921000015
    DOI: 10.1016/j.ribaf.2021.101380
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    Citations

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    Cited by:

    1. Anna Spoz & Ilona Skibinska-Fabrowska & Grzegorz Kotlinski & Helena Zukowska, 2021. "The Impact of the Covid-19 Pandemic on the Financial Performance of Public Companies in Poland," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 955-976.
    2. Liridon Kryeziu & Mehmet Bağış & Mehmet Nurullah Kurutkan & Besnik A. Krasniqi & Artan Haziri, 2022. "COVID-19 impact and firm reactions towards crisis: Evidence from a transition economy," Journal of Entrepreneurship, Management and Innovation, Fundacja Upowszechniająca Wiedzę i Naukę "Cognitione", vol. 18(1), pages 169-196.
    3. Vu Minh Ngo & Huan Huu Nguyen & Hiep Cong Pham & Hung Manh Nguyen & Phuc Vinh Dang Truong, 2023. "Digital supply chain transformation: effect of firm’s knowledge creation capabilities under COVID-19 supply chain disruption risk," Operations Management Research, Springer, vol. 16(2), pages 1003-1018, June.
    4. Wioletta Czemiel-Grzybowska, 2022. "Conceptualization and Mapping of Predictors of Technological Entrepreneurship Growth in a Changing Economic Environment (COVID-19) from the Polish Energy Sector," Energies, MDPI, vol. 15(18), pages 1-14, September.

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