Firm age and financial performance: Evidence from Vietnamese listed firms
Published: June 28, 2026
doi:10.62831/nckh.2026.167.v1
Abstract
This study examines the impact of firm age on the financial performance of listed companies in Vietnam. Using a dataset of 644 companies listed on the Ho Chi Minh City Stock Exchange and the Hanoi Stock Exchange during the 2011–2024 period, the study employs feasible generalized least squares (FGLS) and generalized method of moments (GMM) estimations. The regression results indicate that firm age has a positive effect on the financial performance of listed companies. This finding supports organizational learning theory and resource dependence theory, suggesting that firms accumulate experience and gradually develop stable customer networks over time, thereby enhancing their financial performance through a cumulative learning and resource-building process.
Keywords
listed companiesfinancial performancecompany age
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