The Government of Vietnam is making efforts to rearrange state-owned enterprises (SOEs)
there are many studies on restructuring and equitization of SOEs to form state-capital enterprises (SCEs)
However, there is little research on combining two intangible resources such as social capital and resilience capability. This study presents a structure model describing (i) the impact of social capital and resilience capability on SCE performance (ii) social capital has indirectly affecting performance through resilience capability. After adjusting the scale through in-depth interviews with experts
conduct quantitative research with a sample of 568 SCEs in operation (overall sampling) to test Cronbach’s Alpha reliability, EFA, CFA, and SEM
the research results show that (i) social capital, resilience capability have a positive impact on the performance of SCEs and (ii) social capital indirectly positively affects performance through resilience capability. The study also suggests practical implications for managers to use effective resources in SCEs.