The Impact Of Digital Transformation, Corporate Social Responsibility And Market Orientation On Firm Performance: Evidence From Vietnamese Commercial Banks

Danh Luu-Xuan and Nguyen Long
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Danh Luu-Xuan: Industrial University
Nguyen Long: Industrial University

Business Management, 2025, issue 1 Year 2025, 25-49

Abstract: Digital Transformation (DT) has become a critical factor for maintaining competitiveness in the financial sector. However, the interplay between Market Orientation (MO), Corporate Social Responsibility (CSR), DT, and their combined impact on Firm Performance (FP) remains underexplored, particularly in emerging markets such as Vietnam. This study addresses this gap by examining the relationships in Vietnam's financial industry. The structural equation modeling (SEM) approach was applied to analyze 250 valid responses collected from 2,411 commercial bank branches in Southeast Vietnam. Stratified sampling and snowball sampling methods ensured regional representation. The findings reveal that DT directly enhances FP and acts as a key mediator, strengthening the effects of MO and CSR. DT facilitates real-time responsiveness, enhances transparency, and integrates technological advances with market and social strategies. The study highlights the strategic importance of embedding DT into CSR and MO frameworks to optimize efficiency, achieve sustainable development, and create competitive advantages in an increasingly digitized financial sector.

Keywords: CSR; market orientation; digital transformation; firm performance; banking in Vietnam (search for similar items in EconPapers)
JEL-codes: C38 M14 M15 M21 (search for similar items in EconPapers)
Date: 2025
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