Browse > Article
http://dx.doi.org/10.13106/jafeb.2020.vol7.no11.905

Success Factors Affecting Internationalization Process of Large Vietnamese Companies: A Conceptual Framework  

PHAM, Viet Quoc (Graduate School, University of Finance - Marketing)
NGUYEN, Bao Khac Quoc (School of Finance. University of Economics Ho Chi Minh City)
LE, Thanh Quoc (Graduate School, University of Finance - Marketing)
Publication Information
The Journal of Asian Finance, Economics and Business / v.7, no.11, 2020 , pp. 905-913 More about this Journal
Abstract
Internationalization of multinational companies in the globalized context is a popular topic in the academic world and it is also a strong concern of CEO/managers. However, this topic has not been well discussed in the academic community in Vietnam that can be contextualized in the typical transition economy. This paper is designed to explore critical success factors (CSF) of internationalization of large Vietnamese companies that have contributed major revenue from the international market. Through interviews with CEO/managers of successful companies geared toward world markets, the CSFs of internationalization have been identified and categorized into groups in which each CSF has interaction with each other, and together have combined impacts on the success of internationalization. The research results provide a conceptual framework to analyze factors affecting internationalization of large Vietnamese companies. Thank to this conceptual framework, further exploratory and/or confirmatory research can be developed to locate more success factors of internationalization. In addition, some particularly critical factors of internationalization success of Vietnamese companies are found to be useful to both CEO/managers and policymakers. CEO/managers can benefit from the research results by concentrate their limited efforts/resources in managing these CSFs, and policymaker may design CSF-based policies to boost the internationalization of domestic companies.
Keywords
Internationalization Process; Internationalization Model; Globalization; Success Factor; Conceptual Framework;
Citations & Related Records
Times Cited By KSCI : 6  (Citation Analysis)
연도 인용수 순위
1 Vernon, R. (1992). International investment and international trade in the product cycle. In: International economic policies and their theoretical foundations (pp. 415-435). New York, NY: Academic Press.
2 Welch, L. S., & Luostarinen, R. (1988). Internationalization: Evolution of a concept. Journal of General Management, 14(2), 34-55.   DOI
3 Yip, G. S., Biscarri, J. G., & Monti, J. A. (2000). The role of the internationalization process in the performance of newly internationalizing firms. Journal of International Marketing, 8(3), 10-35.   DOI
4 Hutchinson, K., Quinn, B., & Alexander, N. (2005). The internationalisation of small to medium-sized retail companies: towards a conceptual framework. Journal of Marketing Management, 21(1-2), 149-179.   DOI
5 Isard, W. (1954). Location Theory and Trade Theory: Short-Run Analysis. The Quarterly Journal of Economics, 68(2), 305-320. https://doi.org/10.2307/1884452   DOI
6 Javalgi, R. R. G., Griffith, D. A., & Steven White, D. (2003). An empirical examination of factors influencing the internationalization of service firms. Journal of Services Marketing, 17(2), 185-201. https://doi.org/10.1108/08876040310467934   DOI
7 Johanson, J., & Vahlne, J. E. (1977). The internationalization process of the firm-a model of knowledge development and increasing foreign market commitments. Journal of International Business Studies, 8(1), 23-32.   DOI
8 Kakabadse, A., Kakabadse, N. K., & Barratt, R. (2006). Chairman and chief executive officer (CEO): that sacred and secret relationship. Journal of Management Development, 25(2), 134-150. https://doi.org/10.1108/02621710610645126   DOI
9 Kokko, A., & Sjoholm, F. (2004). The Internationalization of Vietnamese SMEs. EIJS Working Paper Series 193, Stockholm School of Economics, The European Institute of Japanese Studies.
10 Kvale, S. (1995). The social construction of validity. Qualitative Inquiry, 1(1), 19-40.   DOI
11 Amal, M., Awuah, G. B., Raboch, H., & Andersson, S. (2013). Differences and similarities of the internationalization processes of multinational companies from developed and emerging countries. European Business Review, 25(5), 411-428. https://doi.org/10.1108/EBR-08-2012-0048   DOI
12 Andersen, O. (1993). On the internationalization process of firms: A critical analysis. Journal of International Business Studies, 24(2), 209-231.   DOI
13 Bell, J. (1995). The internationalization of small computer software firms. European Journal of Marketing, 38(9-10), 1236-1251.   DOI
14 Bettis, R. A. (1991). Strategic management and the straightjacket: An editorial essay. Organization Science, 2(3), 315-319.   DOI
15 Dana, L. P. (1994). A Marxist mini-dragon? Entrepreneurship in today's Vietnam. Journal of Small Business Management, 32(2), 95.
16 Eisenhardt, K. M. (1989). Building theories from case study research. Academy of Management Review, 14(4), 532-550.   DOI
17 Filatotchev, I., Strange, R., Piesse, J., & Lien, Y. C. (2007). FDI by firms from newly industrialised economies in emerging markets: corporate governance, entry mode and location. Journal of International Business Studies, 38(4), 556-572.   DOI
18 Ghauri, P. N. & Cateora, P. (2010). International Marketing (3rd ed.). London, UK: McGraw Hill Education.
19 Heckscher, E. F., & Ohlin, B. G. (1991). Heckscher-Ohlin trade theory. Cambridge, MA: The MIT Press.
20 Lincoln, Y., & Guba, E. (1985). Naturalistic Inquiry (Vol. 75). Beverly Hills, CA: Sage Publications.
21 Lyles, M. A. (1990). A research agenda for strategic management in the 1990s. Journal of Management Studies, 27(4), 363-375.   DOI
22 Marschan-Piekkari, R., & Welch, C. (Eds.). (2004). Qualitative research methods in international business: The state of the art. Handbook of qualitative research methods for international business (5-24). Cheltenham, UK: Edward Elgar.
23 Melin, L. (1992). Internationalization as a strategy process. Strategic Management Journal, 13(S2), 99-118.   DOI
24 Okoli, C., & Pawlowski, S. D. (2004). The Delphi method as a research tool: an example, design considerations and applications. Information & Management, 42(1), 15-29.   DOI
25 Oviatt, B. M., & McDougall, P. P. (1994). Toward a theory of international new ventures. Journal of International Business Studies, 25(1), 45-64.   DOI
26 Ricardo, D. (1817). On the Principles of Political Economy and Taxation. London, UK: George Bell and Sons.
27 Rogers, E. M. (1962). Diffusion of innovations (1st ed.). New York: Free Press of Glencoe
28 Sanyal, S., Hisam, M. W., & Baawain, A. M. S. (2020b). Entrepreneurial Orientation, Network Competence and Human Capital: The Internationalization of SMEs in Oman. The Journal of Asian Finance, Economics and Business, 7(8), 473-483. https://doi.org/10.13106/jafeb.2020.vol7.no8.473   DOI
29 Sanyal, S., Hisam, M. W., & Baawain, A. M. S. (2020a). Challenges Facing Internationalization of SMEs in Emerging Economies: A Study on OECD Model. Journal of Asian Finance, Economics, and Business, 7(2), 281-289. https://doi.org/10.13106/jafeb.2020.vol7.no2.281   DOI
30 Ali, H., Hao, Y., & Aijuan, C. (2020). Dynamic Capabilities, Environmental Dynamism and Small and Medium Enterprises' Internationalization Level. Journal of Asian Finance, Economics and Business, 7(9), 527-536. https://doi.org/10.13106/jafeb.2020.vol7.no9.527   DOI
31 Seidman, I. (2013). Interviewing as qualitative research: A guide for researchers in education and the social sciences. New York, NY: Teachers College Press.
32 Smith, A. (1776). The Wealth of Nations. Oxford, UK: Oxford University Press.
33 Sullivan, D. (1994). Measuring the degree of internationalization of a firm. Journal of International Business Studies, 25(2), 325-342.   DOI
34 Thai, M. T. T., & Chong, L. C. (2008). Born-global: The case of four Vietnamese SMEs. Journal of International Entrepreneurship, 6(2), 72.   DOI
35 Thanasuta, K., Patoomsuwan, T., Chaimahawong, V., & Chiaravutthi, Y. (2009). Brand and country of origin valuations of automobiles. Asia Pacific Journal of Marketing and Logistics, 21(3), 355-375.   DOI