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Abstract:
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The thesis revolves around the internationalization of Vietnamese firms - that is, how the
international competitiveness of these firms is enhanced in terms of both upstream and
downstream value chain activities and the export performance implications hereof. For
Vietnamese firms, as well as for other firms from emerging markets, internationalization
trajectories may differ considerably from the internationalization patterns portrayed in classical
theories (such as the Uppsala Model) based on observations of the internationalization of firms
from Western, developed market economies. Classical theories have primarily focused on firms’
marketing & sales and networking capabilities as levers of internationalization – and less on
upstream capabilities, such as manufacturing and auxiliary service competencies. Likewise the
situation in other emerging markets many Vietnamese firms are inserted in global value chains
(GVCs) governed by multinational buyers. For these firms, manufacturing skills may be of equal
- or greater - importance to export performance than the mastering of marketing & sales and
networking in foreign markets.
The thesis presents various theoretical perspectives on firms’ internationalization – perspectives
that vary in terms of their focus on either upstream or downstream activities (or, the
interrelationship of these two types of activities). The thesis tries to fill out the knowledge gap as
to which of these theoretical perspectives fit best the trajectories of Vietnamese manufacturing
firms involved in exports. In doing so, the thesis also draws on GVC models, entrepreneurial
literature, and studies of economic as well as strategic export performance.
Unique survey data covering 226 Vietnamese manufacturers involved in exporting was collected
through face-to-face interviews conducted in Hanoi and Ho Chi Minh City. On the basis of these
data a set of hypotheses is tested using structural equation modelling as a statistical tool. The
empirical study suggests that Vietnamese firms create international competitiveness in relation to
both upstream and downstream activities. Furthermore, the study suggests that upstream
competitiveness of the sample firms is significantly more attractive in terms of economic export
performance (export sales, profitability and growth) than downstream competitiveness. However,
when export performance is measured in more far-sighted, strategic terms, there are no significant
differences between the two dimensions of competitiveness. The study also reveals some interesting industry differences: for firms in the “low-tech” textiles & garments industry,
upstream competitiveness has greater impact on economic export performance than downstream
competitiveness. Conversely, downstream competitiveness results in a higher economic return
than upstream competitiveness for firms from the “high-tech” industries of electronics and
mechanical manufactures
In the last part of the thesis, theoretical, empirical, and managerial implications are discussed
along with conclusions and suggestions for future research. |
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