Publication:
The Impact of Product Consumption Strategy and Financial Autonomy on Competitiveness of Vietnam Technology Firms
The Impact of Product Consumption Strategy and Financial Autonomy on Competitiveness of Vietnam Technology Firms
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Date
2021
Authors
Phạm Thị Hồng Vân
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Research Projects
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Abstract
This study aims to determine the impact of product consumption strategy and financial autonomy on the competitiveness of technology firms
in Vietnam. This study employs panel data of 27 technology firms collected from listed financial statements of the business for the period
(2010–2019). The study also uses some indicators reflecting the macroeconomic situation of the economy collected from the World Bank.
Instead of Exploratory Factor Analysis which has been used before, the study uses the feasible generalized least squares (FGLS) estimation
as the main method. The FGLS corrects the variance changes and autocorrelation on the dataset of these Vietnamese technology firms. The
results reveal that the strategy of product consumption and financial autonomy positively affect the competitiveness of technology firms.
These are also two core factors of the technology industry, which have a strong impact on the increase in the competitiveness of firms. The
findings of this study suggest that technology firms do not need to invest in many long-term assets, but mainly in short-term assets in order
to quickly respond to the strategies for consuming new technology products of the business. In addition, the increase in Gross Domestic
Product per capita also positively affects the increase in the competitiveness of technology firms.
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Keywords
Product Consumption Strategy,
Financial Autonomy,
Competitiveness,
Technology Firms