Corporate digital transformation and firm performance: Empirical evidence from Vietnamese listed companies

Abstract

Digital transformation has created significant influences on all over dimensions of social life. It is
considered one of the key tasks in the process of industrialization and modernization, and an important
tool for economic growth and national development. In recent years, the Vietnamese Government has
organized many activities to raise awareness and digital transformation capacity of businesses. Many
businesses have built a roadmap for digital transformation step by step, from data digitalization to
digital transformation. To clarify the role of digital transformation for businesses, the article examines
the relationship between in-breadth application and in-depth application of digital transformation to
operational efficiency. The research results on Vietnamese listed firms during 2017-2022 show that in
depth digital transformation brings positive effects to businesses while the digital transformation in
breadth has a negative impact on this measurement.
The research results suggest that businesses adopt a comprehensive digital transformation strategy, with a
focus on human resources to participate in the transformation process.