Export performance of Vietnamese manufacturing SMEs: A PLS-SEM test of resource-based determinants, absorptive capacity, and international competition

Type of the article: Research ArticleAbstractExport performance has become crucial for Vietnamese manufacturing SMEs as they face digital transformation and stronger global competition. This study investigates how resource-based determinants affect the export performance of Vietnamese manufacturing SMEs, with absorptive capacity (mediation) and international competition (moderation). Cross-sectional survey data from 420 manufacturing SMEs in Vietnam were collected during February–August 2025 and completed by authorized firm representatives (owners/directors/senior managers). Partial least squares structural equation modeling (SmartPLS 4.1) with 5,000 bootstraps was employed. Digital transformation (β = 0.304, p < 0.01), logistics infrastructure (β = 0.289, p < 0.01), and human capital (β = 0.284, p < 0.001) are the strongest predictors; marketing capability (β = 0.124, p < 0.01) and access to finance (β = 0.108, p < 0.01) are positive. Absorptive capacity positively affects exports (β = 0.161, p < 0.01) and mediates four determinants (the most significant for human capital, indirect β = 0.046, p < 0.01). International competition strengthens the effect of human capital (β = 0.115, p < 0.01) but weakens marketing capability (β = –0.102, p < 0.01). The model explains 57.3% of the variance in export performance. These findings highlight the need for policies promoting digital adoption, logistics upgrades, and human-capital development, while firms should enhance learning capabilities and recalibrate marketing strategies under increasing competitive pressure.