Innovation and Ownership Structure as Drivers of Export Strategy: Evidence from Vietnamese Firms

This study investigates the factors driving export decisions in Vietnam, a crucial aspect of the country's economic resilience in a volatile global landscape. Employing a pooled dataset of 3,045 firms observed over three years (2009, 2015, and 2023), the paper examines the influence of innovation and ownership structure on firm-level export performance. The result findings reveal that innovation is a significant driver of export success, particularly for firms operating in knowledge-intensive industries. Moreover, foreign ownership emerges as a key determinant of export strategy, as foreign firms often bring advanced technologies, management practices, and global market access. However, the impact of ownership structure may vary across different industries and market contexts. The findings offer valuable insights for policymakers and businesses in Vietnam. In the context of global economic instability, innovation emerges as a crucial resilience mechanism, enabling firms to adapt to changing market dynamics, mitigate risks, and seize new opportunities. Foreign-owned enterprises, with their access to global markets and advanced technologies, may be better positioned to navigate turbulent times. By understanding the interplay between innovation, ownership structure, and export performance, policymakers can formulate effective strategies to enhance the resilience of emerging economies in the face of global challenges.