Constructing a resilience measurement model for small and medium-sized enterprises in Vietnam: A PLS-SEM approach

Authors

DOI:

https://doi.org/10.15549/jeecar.v11i3.1590

Keywords:

Small and Medium- Sized Enterprises (SMEs), Resilience, PLS-SEM, Vietnam

Abstract

Small and medium-sized enterprises (SMEs) constitute around 97% of the total number of businesses in Vietnam, which contributes to 60% of the national growth. In a dynamic and uncertain business environment, both domestically and internationally, the resilience of SMEs has become a topic of significant interest among researchers and practitioners. Resilience, however, is a multifaceted concept that depends on the specific context in which it is applied. Therefore, this study aims to construct a measurement model for assessing the resilience of SMEs in Vietnam. Drawing from a dataset collected from 500 SMEs and employing the PLS-SEM technique. the findings of this research indicate that the resilience index is a combination of reflective and formative models. Resilience at level three is a formative construct comprising four prioritized components: agility, anticipatory capability, flexibility, and adaptability. The reflective measurement model of agility, anticipation, flexibility, and adaptability confirms its reliability and validity. These findings form the basis for the effective allocation of resources to enhance resilience within SMEs. Understanding the nuanced aspects of resilience can benefit in developing targeted strategies to bolster SMEs against the challenges posed by an ever-changing business landscape.

Author Biographies

Hien Thi Thu Dinh, Ho Chi Minh City Open University, Ho Chi Minh City, Vietnam

Ms. Hien Dinh Thi Thu is currently working as a Ph.D. candidate and a lecturer in the Accounting – Auditing Department at Ho Chi Minh City Open University, Vietnam. Her research interests include business accounting and audit & assurance.

Quyen Le Hoang Thuy To Nguyen, Public Governance and Developmental Issues Research Group (PGDI), School of Government, University of Economics Ho Chi Minh City (UEH), Ho Chi Minh City, Vietnam

Dr. Quyen Le Hoang Thuy To Nguyen is a senior researcher and lecturer at the Public Governance and Developmental Issues Research Group (PGDI), School of Government, University of Economics Ho Chi Minh City, Ho Chi Minh City. Her teaching and research interests include economics and society, public management, public health, and sustainable development.

Phong Thanh Nguyen, Ho Chi Minh City Open University, Vietnam

Dr. Phong Thanh Nguyen is a researcher of the Professional Knowledge & Project Management Interdisciplinary Research Team (K2P) at Ho Chi Minh City Open University, Vietnam. He is also a lecturer at Ho Chi Minh City Open University and editor of Springer. His teaching and research interests include mathematics education, PPP project management, construction economics & management, behavioral sciences, interdisciplinary research, quantitative analysis, business industry, and risk management.

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Published

2024-06-04

How to Cite

Dinh, H. T. T., Nguyen, Q. L. H. T. T., & Thanh Nguyen, P. (2024). Constructing a resilience measurement model for small and medium-sized enterprises in Vietnam: A PLS-SEM approach. Journal of Eastern European and Central Asian Research (JEECAR), 11(3), 526–536. https://doi.org/10.15549/jeecar.v11i3.1590