We investigate the impacts of state shareholding, corporate culture and employee commitment on corporate performance of privatized firms in the Vietnamese context. Using data collected from a structured questionnaire as well as companies’ annual reports, we show that only organizational integration significantly affects the performance of privatized firms. Furthermore, employee and customer satisfactions are among the most important drivers of corporate performance. Finally, there is evidence to suggest that privatized firms with less state ownership perform better than those with more state ownership.
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