Business Model Innovation of Entrepreneurial Firms in Vietnam: The Moderating Role of Information Exchange and Market Dynamism

Abstract This study examines the impact of managerial ties (government ties, social ties, and business partner ties) on entrepreneurial performance through the mediating role of business model innovation (BMI) and the moderating roles of information exchange and market dynamism. The study employed the PLS-SEM method to evaluate the research hypotheses using data from 425 entrepreneurs in Vietnam. The results of the study show that managerial ties positively impact BMI and entrepreneurial performance. Additionally, BMI is positively related to entrepreneurial performance. Information exchange and market dynamism play a positive moderating role in the relationships between managerial ties and BMI, as well as between BMI and entrepreneurial performance. The findings provide valuable insights for managers of entrepreneurial firms, emphasizing the importance of building networking and implementing BMI to enhance entrepreneurial performance. Additionally, managers should actively engage in information exchange within their networks and capitalize on market dynamism to further improve entrepreneurial performance.