This article aims at testing the relationship between owners’ human and social capital resources and firms’ financial performance, using the survey of 2,739 SMEs in Vietnam in 2004 conducted by Vietnam’s Institute of Labor Studies and Social Affairs (ILSSA) and The Faculty of Economics - Copenhagen University. The study then shows some significant results and opens future research directions. | VNU Journal of Science: Economics and Business, Vol. 32, No. 2 (2016) 1-13 RESEARCH The Contribution of Owners’ Human and Social Capital to Firm Performance in Vietnamese Small and Medium Enterprises Nguyen Ha Lien Chi* Sai Gon University, 273 An Duong Vuong, Ward 3, District 5, Ho Chi Minh City, Vietnam Abstract Small and medium enterprises (SMEs) have held an increasingly important position in Vietnam’s economy, contributing significantly to the economic growth of the country. Despite that vital role, research on this subject is very limited, scarce in quantity, and questionable in quality, particularly on owners’ human and social capital as a significant input for SME performance. Therefore, this article aims at testing the relationship between owners’ human and social capital resources and firms’ financial performance, using the survey of 2,739 SMEs in Vietnam in 2004 conducted by Vietnam’s Institute of Labor Studies and Social Affairs (ILSSA) and The Faculty of Economics - Copenhagen University. The study then shows some significant results and opens future research directions. Received 19 April 2015, revised 9 June 2016, accepted 28 June 2016 Keywords: Small and medium enterprises (SMEs), capital, resource, firm performance. 1. Introduction * social capital on SME performance [1]), inadequate attention has been paid to explain this impact in developing countries and transition economies. As a developing country in Southeast Asia, Vietnam has had an open economy since 1986 after the reform of the Communist Party which allowed the establishment of private sectors and enabled the privatization process of the stateowned sectors. Since then, SMEs in Vietnam have been increasingly demonstrating their role in the economic development of the country. The Government of Vietnam declares that, “in our country, SMEs hold an increasingly important position, contributing significantly to the economic growth of the country with an annual contribution of more than 40 per
