Impact of Product Market Competitiveness on Performance of Listed Enterprises in Vietnam

Abstract

Purpose: This study examines the impact of product market competitiveness (PMC) on firm performance (FP) of manufacturing enterprises in Vietnam, grounded in the Structure–Conduct–Performance (SCP) theoretical framework.
Design/methodology/approach: The paper analyzes panel data from 275 listed firms on the Vietnamese stock market, comprising 3,575 firm-year observations over the period 2011–2023. Panel data estimation techniques are employed, including the Random Effects Model (REM), Fixed Effects Model (FEM), and the System Generalized Method of Moments (SGMM).
Findings: The results consistently indicate that firms with higher levels of product market competitiveness tend to achieve superior performance compared to firms with lower competitiveness.
Originality/value: The study provides robust empirical evidence supporting the SCP framework in the Vietnamese context and offers policy implications aimed at enhancing firm performance through strengthening firms’ product market competitiveness.