Financial performance plays a central and decisive role in the survival, development, and competitiveness of a business. Factors affecting financial performance can be divided into internal and external groups. This article examines how internal factors affect business performance, based on an empirical study of a non-state-owned enterprise in Hanoi, Vietnam. The article was conducted to study the factors of enterprises affecting the performance of non-state enterprises in Hanoi, Vietnam. The article was conducted in the period from 2019 to 2023 using the quantile regression method according to the linear regression model. The research results on the model for ROE, ROA show that the factors of financial leverage, asset turnover, and net profit margin have a positive impact on the performance of non-state enterprises in Hanoi, Vietnam. Factors such as number of years of operation, enterprise size, growth rate, current ratio, have no statistical evidence of impact on the performance of non-stated enterprises in Hanoi, Vietnam in all quantiles. Therefore, to improve financial performance, the management board needs to accelerate asset turnover and make rational use of business leverage – these are the driving forces behind improved financial performance. The number of years in operation or the size of the enterprise are not indicators for investors about whether an enterprise will be successful.
| Published in | International Journal of Sustainable Development Research (Volume 12, Issue 1) |
| DOI | 10.11648/j.ijsdr.20261201.13 |
| Page(s) | 36-50 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2026. Published by Science Publishing Group |
Internal Factors, Non-State Enterprises, Performance, Vietnam
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APA Style
Ha, T. P. D. (2026). The Factors Affecting the Performance of Non-State Enterprises in Hanoi, Vietnam. International Journal of Sustainable Development Research, 12(1), 36-50. https://doi.org/10.11648/j.ijsdr.20261201.13
ACS Style
Ha, T. P. D. The Factors Affecting the Performance of Non-State Enterprises in Hanoi, Vietnam. Int. J. Sustain. Dev. Res. 2026, 12(1), 36-50. doi: 10.11648/j.ijsdr.20261201.13
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Download@article{10.11648/j.ijsdr.20261201.13,
author = {Thi Phuong Dung Ha},
title = {The Factors Affecting the Performance of Non-State Enterprises in Hanoi, Vietnam},
journal = {International Journal of Sustainable Development Research},
volume = {12},
number = {1},
pages = {36-50},
doi = {10.11648/j.ijsdr.20261201.13},
url = {https://doi.org/10.11648/j.ijsdr.20261201.13},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijsdr.20261201.13},
abstract = {Financial performance plays a central and decisive role in the survival, development, and competitiveness of a business. Factors affecting financial performance can be divided into internal and external groups. This article examines how internal factors affect business performance, based on an empirical study of a non-state-owned enterprise in Hanoi, Vietnam. The article was conducted to study the factors of enterprises affecting the performance of non-state enterprises in Hanoi, Vietnam. The article was conducted in the period from 2019 to 2023 using the quantile regression method according to the linear regression model. The research results on the model for ROE, ROA show that the factors of financial leverage, asset turnover, and net profit margin have a positive impact on the performance of non-state enterprises in Hanoi, Vietnam. Factors such as number of years of operation, enterprise size, growth rate, current ratio, have no statistical evidence of impact on the performance of non-stated enterprises in Hanoi, Vietnam in all quantiles. Therefore, to improve financial performance, the management board needs to accelerate asset turnover and make rational use of business leverage – these are the driving forces behind improved financial performance. The number of years in operation or the size of the enterprise are not indicators for investors about whether an enterprise will be successful.},
year = {2026}
}
TY - JOUR T1 - The Factors Affecting the Performance of Non-State Enterprises in Hanoi, Vietnam AU - Thi Phuong Dung Ha Y1 - 2026/02/20 PY - 2026 N1 - https://doi.org/10.11648/j.ijsdr.20261201.13 DO - 10.11648/j.ijsdr.20261201.13 T2 - International Journal of Sustainable Development Research JF - International Journal of Sustainable Development Research JO - International Journal of Sustainable Development Research SP - 36 EP - 50 PB - Science Publishing Group SN - 2575-1832 UR - https://doi.org/10.11648/j.ijsdr.20261201.13 AB - Financial performance plays a central and decisive role in the survival, development, and competitiveness of a business. Factors affecting financial performance can be divided into internal and external groups. This article examines how internal factors affect business performance, based on an empirical study of a non-state-owned enterprise in Hanoi, Vietnam. The article was conducted to study the factors of enterprises affecting the performance of non-state enterprises in Hanoi, Vietnam. The article was conducted in the period from 2019 to 2023 using the quantile regression method according to the linear regression model. The research results on the model for ROE, ROA show that the factors of financial leverage, asset turnover, and net profit margin have a positive impact on the performance of non-state enterprises in Hanoi, Vietnam. Factors such as number of years of operation, enterprise size, growth rate, current ratio, have no statistical evidence of impact on the performance of non-stated enterprises in Hanoi, Vietnam in all quantiles. Therefore, to improve financial performance, the management board needs to accelerate asset turnover and make rational use of business leverage – these are the driving forces behind improved financial performance. The number of years in operation or the size of the enterprise are not indicators for investors about whether an enterprise will be successful. VL - 12 IS - 1 ER -
School of Accounting and Auditing, National Economics University, Hanoi, Vietnam
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