Human capital, digital transformation, and firm performance of startups in Vietnam
Tran Nha Ghi, Nguyen Quang Thu, Ngo Quang Huan, Nguyen Tan Trung
Abstract
Based on social capital theory, the study explained the digital transformation process of startups in Vietnam. The primary object of this study is to examine the relationship between human capital, digital transformation, and firm performance of startups in Vietnam. The study applied Partial Least Squares Structural Model (PLS-SEM) with a sample size of 230 managers. The results demonstrated the positive relationships between human capital, digital transformation, and firm performance. The study explored digital transformation as a mediation mechanism between human capital and firm performance. The results provided some managerial implications for managers to focus on improving human capital in order to promote digital transfo<bold>rmation and firm performance. This is an important strategy to help startups escape the crisis of Covid</bold>-19 pandemic. Finally, the study presented some limitations and directions for further research.