In e na ional Jou nal o Social Science and Educa ion Resea ch S udies
ISSN(p in ): 2770-2782, ISSN(online): 2770-2790
Volume 05 Issue 11 No embe 2025
DOI: h ps://doi.o g/10.55677/ijsse s/V05I11Y2025-04, Impac Fac o : 7.573
Page No : 1014-1026
1014 A ailable a : www.ijsse s.o g
De e minan s o Co po a e Accoun ing Sys em E ec i eness in Vie nam:
E idence on The Media ing Role o Fi m Size
An Pham Thi1, Phuong Ngoc Nguyen2, T ang Pham Thi Thu3*
1,2,3 Uni e si y o Hai Duong
ABSTRACT Published Online: No embe 25, 2025
In he con ex o global economic in eg a ion and he Fou h Indus ial Re olu ion, he e ec i e
implemen a ion o accoun ing sys ems is a c i ical ac o ha enhances inancial managemen capaci y
and compe i i eness among Vie namese en e p ises, pa icula ly du ing he adop ion o In e na ional
Financial Repo ing S anda ds (IFRS). This s udy employs a mixed-me hod app oach combining
quali a i e and quan i a i e echniques. A o al o 350 alid su ey esponses om en e p ises we e
analyzed using C onbach’s Alpha, Explo a o y Fac o Analysis (EFA), Con i ma o y Fac o Analysis
(CFA), and S uc u al Equa ion Modeling (SEM) o assess accoun ing sys em e ec i eness. The
indings e eal ha Accoun ing Technology, Accoun an Compe ence, and Compliance wi h
Accoun ing S anda ds exe signi ican posi i e e ec s on accoun ing sys em e ec i eness. In con as ,
Financial Resou ces and O ganiza ional Cul u e in luence sys em e ec i eness p ima ily h ough i m
size a he han di ec e ec s. These esul s highligh ha echnological capabili y, p o essional
compe ence, and egula o y compliance a e he mos decisi e ac o s in imp o ing accoun ing sys em
pe o mance. Based on he esul s, he s udy ecommends ha en e p ises s eng hen echnological
in es men and digi al ans o ma ion in accoun ing, enhance accoun an aining and in e na ional
ce i ica ion p og ams, and accele a e IFRS implemen a ion.
KEYWORDS:
accoun ing sys em,
SEM, i m size,
Vie nam
1. INTRODUCTION
In he con ex o globaliza ion and in e na ional
economic in eg a ion, inancial anspa ency and
accoun abili y ha e inc easingly become manda o y
equi emen s o en e p ises. The co po a e accoun ing
sys em (CAS), wi h i s unc ions o eco ding, p ocessing,
and p o iding inancial in o ma ion, is an in e nal
managemen ool and a condui connec ing i ms wi h
s akeholde s, including in es o s, egula o s, and business
pa ne s.
In Vie nam, co po a e accoun ing sys ems ace
oppo uni ies and challenges alongside he de elopmen o
he capi al ma ke and he demands o in eg a ion. The
eme gence o new echnologies such as en e p ise esou ce
planning (ERP), a i icial in elligence (AI), and blockchain
has been eshaping accoun ing ope a ions, imp o ing
accu acy, imeliness, and p ocessing e iciency.
Co esponding Au ho : An Pham Thi
*Ci e his A icle: An Pham Thi, Phuong Ngoc Nguyen, T ang
Pham Thi Thu (2025). De e minan s o Co po a e Accoun ing
Sys em E ec i eness in Vie nam: E idence on The Media ing
Role o Fi m Size. In e na ional Jou nal o Social Science and
Educa ion Resea ch S udies, 5(11), 1014-1026
A he same ime, he equi emen o implemen In e na ional
Financial Repo ing S anda ds (IFRS) in pa allel wi h
Vie namese Accoun ing S anda ds (VAS) poses signi ican
challenges, pa icula ly o small and medium-sized
en e p ises, in s anda dizing p ocesses and sus aining he
e ec i eness o he accoun ing sys em.
In e na ional s udies indica e ha he e ec i eness
o he co po a e accoun ing sys em is in luenced by se e al
de e minan s, including (1) he deg ee o echnology adop ion,
(2) he compe ence and skills o accoun ing pe sonnel, (3)
compliance wi h accoun ing s anda ds, (4) inancial esou ces,
and (5) o ganiza ional cul u e. The li e a u e also ecognizes
he ole o i m size; in his s udy, i m size is concep ualized
as a media ing a iable ha ansmi s he e ec s o hese
de e minan s o CAS e ec i eness. Howe e , in Vie nam,
he e emains a pauci y o esea ch ha simul aneously
e alua es hese ac o s using S uc u al Equa ion Modeling
(SEM). Building on his con ex , he p esen s udy ocuses on
assessing he e ec i eness o co po a e accoun ing sys ems
in Vie namese en e p ises wi h he ollowing speci ic
objec i es:
1. Assess he e ec i eness o co po a e accoun ing
sys ems in Vie nam.
An Pham Thi e al, De e minan s o Co po a e Accoun ing Sys em E ec i eness in Vie nam: E idence on The
Media ing Role o Fi m Size
1015 A ailable a : www.ijsse s.o g
2. Iden i y he p incipal de e minan s and es ima e he
magni ude o hei e ec s.
3. Tes he media ing ole o i m size in he
ela ionships be ween he de e minan s and sys em
e ec i eness using SEM.
2. THEORETICAL FRAMEWORK AND
HYPOTHESIS
2.1. Theo e ical amewo k
This s udy syn hesizes ou ounda ional heo e ical
pe spec i es: he Technology O ganiza ion En i onmen
amewo k (TOE F amewo k), he Resou ce-Based View
(RBV), Legi imacy Theo y, and Decision Use ulness Theo y.
Toge he , hese heo ies p o ide he concep ual ounda ion o
iden i ying and explaining he de e minan s ha in luence he
e ec i eness o co po a e accoun ing sys ems. They also
se e as he heo e ical basis o de eloping he S uc u al
Equa ion Model applied in his esea ch. In addi ion o he
co e ac o s o echnology adop ion, accoun an s’ compe ence,
and compliance wi h accoun ing s anda ds, he s udy
inco po a es inancial esou ces and o ganiza ional cul u e as
key independen a iables. Fi m size is posi ioned as a
media ing ac o ha con eys he e ec s o hese
de e minan s o sys em e ec i eness.
2.1.1. Technology o ganiza ion en i onmen (TOE)
amewo k
The Technology O ganiza ion En i onmen
amewo k, p oposed by To na zky and Fleische in 1990,
explains he adop ion and implemen a ion o echnology in
o ganiza ions h ough he in e ac ion o h ee con ex ual
dimensions: echnology eadiness, o ganiza ional
cha ac e is ics, and he ex e nal en i onmen . Wi hin he
scope o his esea ch, he TOE amewo k is used o explain
how accoun ing echnology enhances sys em e ec i eness.
Implemen ing mode n accoun ing echnologies such as
en e p ise esou ce planning sys ems, a i icial in elligence,
and blockchain is in luenced by he a ailabili y o
echnological in as uc u e, he o ganiza ional capaci y o
manage change, and ex e nal ins i u ional p essu es such as
egula o y and ma ke compe i ion. Fu he mo e,
o ganiza ional cul u e plays a i al ole in shaping he
accep ance o inno a ion, he discipline o da a managemen ,
and he consis ency o accoun ing p ocesses. Financial
esou ces a e equally c i ical, as hey de e mine an
en e p ise’s abili y o in es in mode n echnology, aining,
and sys em main enance, all o which di ec ly a ec he
ope a ional e ec i eness o he accoun ing sys em.
2.1.2. Resou ce-based iew (RBV)
Acco ding o he Resou ce-Based View, as p oposed
by Ba ney in 1991, a i m’s sus ainable compe i i e
ad an age is de i ed om i s abili y o acqui e and u ilize
aluable, a e, inimi able, and non-subs i u able esou ces.
F om his pe spec i e, accoun an s' compe ence and he
en e p ise's scale ep esen i al esou ces ha de e mine how
e ec i ely he accoun ing sys em ope a es. Financial
esou ces a e also essen ial o his ad an age because hey
enable i ms o in es in in as uc u e, aining, and
inno a ion. O ganiza ional cul u e is an in angible ye
s a egic asse ha p omo es sha ed alues, lea ning
o ien a ion, and adhe ence o accoun ing in eg i y. These
elemen s s eng hen he i m’s in e nal capaci y o ensu e
accu a e, eliable, and imely inancial epo ing. Fi m size
e lec s he le el o hese esou ces. I se es as a media ing
a iable h ough which echnology, human capabili y,
economic s eng h, and o ganiza ional cul u e in luence he
o e all e ec i eness o he co po a e accoun ing sys em.
2.1.3. Legi imacy heo y
Legi imacy Theo y emphasizes ha o ganiza ions
mus ac acco ding o social no ms, e hical alues, and public
expec a ions o main ain hei exis ence and achie e
sus ainable de elopmen , as no ed by Suchman in 1995. In
he accoun ing ield, compliance wi h bo h Vie namese
Accoun ing S anda ds and In e na ional Financial Repo ing
S anda ds is an essen ial mechanism o main aining
legi imacy. By adhe ing o ecognized accoun ing
amewo ks, en e p ises demons a e anspa ency and
esponsibili y, s eng hening us among in es o s, egula o s,
and he wide communi y. This p ocess also depends on
inancial capabili y, as adequa e esou ces a e equi ed o
suppo IFRS adop ion, employee aining, and echnology
upg ades. A he same ime, o ganiza ional cul u e ein o ces
legi ima e beha io by encou aging e hical compliance and
commi men o egula o y s anda ds. Th ough hese
mechanisms, i ms enhance hei epu a ion and imp o e
access o capi al and in e na ional ma ke s, suppo ing he
accoun ing sys em's highe e ec i eness.
2.1.4. Decision use ulness heo y
The Decision Use ulness Theo y, de eloped by
S aubus in 1961 and la e a icula ed by he Financial
Accoun ing S anda ds Boa d in 1978, s a es ha he p ima y
pu pose o accoun ing is o p o ide aluable in o ma ion o
economic decision making. The e o e, he e ec i eness o an
accoun ing sys em can be e alua ed h ough i s abili y o
p oduce in o ma ion ha suppo s manage ial planning,
pe o mance e alua ion, and s akeholde decisions. In his
esea ch, echnology adop ion, accoun an s’ compe ence,
compliance wi h s anda ds, inancial esou ces, and
o ganiza ional cul u e a e expec ed o enhance accoun ing
in o ma ion's ele ance, eliabili y, and imeliness. When
hese ac o s ope a e e icien ly wi hin an o ganiza ion o
app op ia e scale, he use ulness o inancial in o ma ion is
maximized, and he media ing ole o i m size becomes
e iden . A la ge i m, wi h mo e s uc u ed p ocesses and
di e si ied esou ces, can be e le e age hese de e minan s
o achie e high sys em pe o mance and in o ma ion quali y.
Hence, he co po a e accoun ing sys em no only ensu es
accu a e and anspa en epo ing bu also con ibu es o
An Pham Thi e al, De e minan s o Co po a e Accoun ing Sys em E ec i eness in Vie nam: E idence on The
Media ing Role o Fi m Size
1016 A ailable a : www.ijsse s.o g
s a egic decision-making and he sus ainable g ow h o he
en e p ise.
2.2. Hypo hesis
2.2.1. Co po a e accoun ing sys em
A co po a e accoun ing sys em comp ises a
s uc u ed se o policies, p ocedu es, me hods, and ools
designed o collec , p ocess, eco d, and p o ide inancial
in o ma ion o manage ial decision-making and epo ing o
s akeholde s such as sha eholde s, in es o s, egula o s, and
business pa ne s. An e ec i e accoun ing sys em mus mee
h ee key c i e ia: accu acy, imeliness, and anspa ency.
These dimensions de e mine accoun ing in o ma ion's
eliabili y and use ulness o in e nal and ex e nal use s. As
empi ical esea ch indica es, he quali y and e ec i eness o
accoun ing in o ma ion sys ems signi ican ly in luence
manage ial decision-making pe o mance and o e all
o ganiza ional success.
2.2.2. Accoun ing echnology
The s ong de elopmen o digi al echnology has
p o oundly in luenced accoun ing ope a ions. Technologies
such as En e p ise Resou ce Planning (ERP), A i icial
In elligence (AI), and Blockchain ha e ans o med
adi ional accoun ing p ocesses by au oma ing asks,
educing e o s, sho ening p ocessing ime, and enabling in-
dep h da a analysis ha imp o es managemen e iciency and
in e nal con ol. Acco ding o he Technology–O ganiza ion–
En i onmen amewo k, echnological adop ion ep esen s a
signi ican de e minan o o ganiza ional pe o mance and
compe i i eness. In he accoun ing con ex , s udies show ha
echnology adop ion signi ican ly enhances accoun ing da a
in eg i y, sys em e iciency, and eal- ime decision suppo
(Seshad ina han & Chand a, 2025).
2.2.3. Accoun an compe ency
Accoun an compe ency in eg a es p o essional
knowledge, p ac ical skills, echnological abili y, wo k
expe ience, and e hical s anda ds. Wi hin he knowledge-
based iew o he i m, human capi al is ega ded as he
undamen al esou ce de e mining he ope a ional success o
accoun ing sys ems. In he con ex o globaliza ion and digi al
ans o ma ion, accoun an s a e inc easingly equi ed o mee
in e na ional p o essional quali ica ions (ACCA, CPA) and
adap o new accoun ing echnologies and s anda ds. Recen
esea ch emphasizes ha s ong p o essional and
echnological compe encies enable accoun an s o ope a e
digi al accoun ing sys ems mo e e ec i ely, ensu ing
in o ma ion accu acy and eliabili y (ACCA, 2020; No ak,
2025).
2.2.4. Compliance wi h accoun ing s anda ds
Compliance wi h accoun ing s anda ds e lec s how
en e p ises apply and adhe e o Vie namese Accoun ing
S anda ds (VAS) and In e na ional Financial Repo ing
S anda ds (IFRS). Based on Legi imacy Theo y, compliance
enhances anspa ency, accoun abili y, and c edibili y o
inancial epo ing, he eby ein o cing us among in es o s,
egula o s, and o he s akeholde s. Fo Vie namese
en e p ises, aligning wi h IFRS p omo es in e na ional
compa abili y and acili a es capi al access in global ma ke s.
Recen empi ical s udies in eme ging economies con i m ha
IFRS adop ion leads o highe inancial epo ing
anspa ency and quali y (Mo shed, 2024).
2.2.5. Financial esou ces
Financial esou ces deno e an en e p ise’s abili y o
mobilize and alloca e unds o echnological in es men ,
s a aining, and main enance o accoun ing sys ems. They
ep esen a c i ical o ganiza ional capabili y suppo ing
sus ainabili y and inno a ion. In digi al ans o ma ion, i ms
wi h mo e subs an ial inancial esou ces can adop cloud
accoun ing and ad anced echnologies mo e e ec i ely,
he eby imp o ing p oduc i i y and decision quali y.
Empi ical s udies on small and medium-sized en e p ises
con i m ha inancial capabili y is a key de e minan o
digi al accoun ing adop ion and sys em pe o mance (Mujalli,
Wani, & Almg ashi, 2024; Salih e al., 2021).
2.2.6. O ganiza ional cul u e
O ganiza ional cul u e is he sys em o sha ed alues,
belie s, and p ac ices ha go e ns how employees in e ac
and pe o m hei du ies. I s ongly in luences adop ing and
using accoun ing sys ems by shaping a i udes owa d
lea ning, inno a ion, compliance, and e hical conduc . A
cul u e ha emphasizes in eg i y, collabo a ion, and
anspa ency acili a es echnological adap a ion and
enhances in o ma ion quali y. Empi ical esea ch
demons a es ha suppo i e o ganiza ional cul u es
posi i ely a ec accoun ing in o ma ion sys em quali y and
use sa is ac ion, pa icula ly du ing digi al ans o ma ion
p ocesses (Qa awneh, 2023).
2.2.7. Fi m size
Fi m size can be measu ed by o al asse s, e enue,
numbe o employees, o sha eholde s’ equi y. I de e mines
he le el o o ganiza ional esou ces, s uc u al o maliza ion,
and capaci y o implemen and main ain ad anced accoun ing
sys ems. La ge i ms gene ally ha e g ea e po en ial o
in es in echnology, a ac skilled pe sonnel, and ensu e
s ic compliance wi h epo ing s anda ds, whe eas small and
medium-sized i ms o en ace esou ce cons ain s. In
acco dance wi h he Resou ce-Based View, i m size is
conside ed a de e minan o sus ainable compe i i e
ad an age and sys em pe o mance. P e ious esea ch
con i ms ha i m size signi ican ly mode a es he
ela ionship be ween echnology adop ion and accoun ing
sys em e ec i eness (Salih e al., 2021).
2.2.8. Accoun ing sys em e ec i eness
The e ec i eness o an accoun ing sys em e e s o
i s abili y o gene a e inancial in o ma ion ha is accu a e,
imely, and anspa en o decision-making and epo ing
pu poses. D awing upon he Decision Use ulness Theo y,
sys em e ec i eness is measu ed by how well accoun ing
An Pham Thi e al, De e minan s o Co po a e Accoun ing Sys em E ec i eness in Vie nam: E idence on The
Media ing Role o Fi m Size
1017 A ailable a : www.ijsse s.o g
in o ma ion suppo s s a egic planning, manage ial con ol,
and ex e nal accoun abili y. When accoun ing in o ma ion is
eliable and ele an , i ms can enhance ope a ional
e iciency, educe cos s, and imp o e o e all pe o mance.
Recen empi ical esea ch demons a es a posi i e
ela ionship be ween sys em quali y, in o ma ion quali y, and
o ganiza ional pe o mance in bo h inancial and non inancial
dimensions (Mon ei o e al., 2022).
3. METHODOLOGY
3.1. Resea ch model
Based on he li e a u e e iew esul s and ele an heo e ical ounda ions, he au ho p oposes he esea ch model
illus a ed in Figu e 1 below.
Figu e 1. Resea ch model
(Sou ce: De eloped by he au ho s, 2025)
The p oposed esea ch model consis s o i e
independen a iables, one media ing a iable, and one
dependen a iable, as ollows:
- Independen Va iables
Accoun ing Technology (CN): This a iable
ep esen s he deg ee o adop ion o mode n accoun ing
echnologies such as En e p ise Resou ce Planning (ERP),
A i icial In elligence (AI), Robo ic P ocess Au oma ion
(RPA), and Blockchain in accoun ing ac i i ies. These
echnologies aim o imp o e accu acy, anspa ency, and
e iciency in inancial da a p ocessing.
Accoun an Compe ency (NL): This cons uc
e lec s he p o essional quali ica ions, knowledge, skills,
expe ience, e hical s anda ds, and echnological adap abili y
o accoun an s. Highe compe ency enables accoun an s o
ope a e accoun ing sys ems e ec i ely and main ain
in o ma ion eliabili y.
Compliance wi h Accoun ing S anda ds (TT):
This a iable assesses he ex en o which en e p ises comply
wi h he Vie namese Accoun ing S anda ds (VAS) and
implemen he oadmap o In e na ional Financial Repo ing
S anda ds (IFRS). S ong compliance enhances anspa ency,
eliabili y, and compa abili y o inancial epo ing.
Financial Resou ces (TC): Financial esou ces
exp ess he inancial capaci y o en e p ises o in es in
accoun ing echnology, s a de elopmen , and sys em
main enance. Adequa e esou ces ensu e he con inuous
imp o emen and sus ainabili y o accoun ing sys ems.
O ganiza ional Cul u e (VH): O ganiza ional
cul u e ep esen s he se o sha ed alues, no ms, and
beha io s ha shape e hical p ac ices, lea ning a i udes, and
echnology accep ance wi hin he accoun ing unc ion. A
suppo i e cul u e enhances inno a ion and s eng hens
sys em pe o mance.
Media ing Va iable
Fi m Size (QM): Fi m size is he media ing a iable
ha e lec s he scale o o ganiza ional ope a ions and
a ailable esou ces. I is measu ed by indica o s such as o al
asse s, e enue, and numbe o employees, which can
Accoun ing
Technology
Fi m Size
Accoun an
Compe ency
Compliance wi h
Accoun ing
Accoun ing
Sys em
E ec i eness
Financial Resou ces
O ganiza ional
Cul u e
An Pham Thi e al, De e minan s o Co po a e Accoun ing Sys em E ec i eness in Vie nam: E idence on The
Media ing Role o Fi m Size
1018 A ailable a : www.ijsse s.o g
dis inguish among small and medium-sized en e p ises
(SMEs), la ge en e p ises, and o eign-in es ed i ms (FDIs).
Dependen Va iable
Accoun ing Sys em E ec i eness (HQ): This
dependen a iable measu es he e ec i eness o he
accoun ing sys em in p o iding accu a e, imely, anspa en ,
and aluable inancial in o ma ion o in e nal managemen
and ex e nal epo ing.
Table 1. Summa y o Measu emen Cons uc s
No.
Va iable
No. o Indica o s
Theo e ical Basis
1
Accoun ing Technology (CN)
5
To na zky & Fleische (1990)
2
Accoun an Compe ency (NL)
5
Ba ney (1991)
3
Compliance wi h Accoun ing S anda ds (TT)
4
Suchman (1995)
4
Financial Resou ces (TC)
5
Ba ney (1991)
5
O ganiza ional Cul u e (VH)
5
Schein (2010)
6
Fi m Size (QM)
4
Ba ney (1991)
7
Accoun ing Sys em E ec i eness (HQ)
5
S aubus (1961)
Sou ce: Compiled by he au ho , 2025
Based on p io s udies and heo e ical easoning, he
ollowing hypo heses a e p oposed:
• H1: Accoun ing Technology (CN) has a posi i e
indi ec e ec on Accoun ing Sys em E ec i eness
(HQ) h ough Fi m Size (QM).
• H2: Accoun an Compe ency (NL) has a posi i e
indi ec e ec on Accoun ing Sys em E ec i eness
(HQ) h ough Fi m Size (QM).
• H3: Compliance wi h Accoun ing S anda ds (TT)
has a posi i e indi ec e ec on Accoun ing Sys em
E ec i eness (HQ) h ough Fi m Size (QM).
• H4: Financial Resou ces (TC) ha e a posi i e
indi ec e ec on Accoun ing Sys em E ec i eness
(HQ) h ough Fi m Size (QM).
• H5: O ganiza ional Cul u e (VH) has a posi i e
indi ec e ec on Accoun ing Sys em E ec i eness
(HQ) h ough Fi m Size (QM).
• H6: Accoun ing Technology (CN) di ec ly and
posi i ely a ec s Accoun ing Sys em E ec i eness
(HQ).
• H7: Accoun an Compe ency (NL) di ec ly and
posi i ely a ec s Accoun ing Sys em E ec i eness
(HQ).
• H8: Compliance wi h Accoun ing S anda ds (TT)
di ec ly and posi i ely a ec s Accoun ing Sys em
E ec i eness (HQ).
• H9: Financial Resou ces (TC) di ec ly and
posi i ely a ec Accoun ing Sys em E ec i eness
(HQ).
• H10: O ganiza ional Cul u e (VH) di ec ly and
posi i ely a ec s Accoun ing Sys em E ec i eness
(HQ).
3.2. Me hodology
This s udy adop s a mixed-me hod esea ch design,
in eg a ing bo h quali a i e and quan i a i e app oaches o
enhance me hodological obus ness. The quali a i e phase
was conduc ed i s , ocusing on expe in e iews wi h chie
accoun an s, accoun ing manage s, and p o essional
accoun an s om en e p ises lis ed on he Ho Chi Minh Ci y
S ock Exchange (HOSE) and he Hanoi S ock Exchange
(HNX). Insigh s om hese in e iews we e used o adjus ,
e ine, and supplemen he measu emen scales o ensu e
concep ual cla i y and con ex ual app op ia eness o he
Vie namese business en i onmen . The e ised scales we e
hen used in he subsequen quan i a i e phase.
The quan i a i e phase consis ed o a pilo s udy and
a main su ey. The pilo s udy was implemen ed wi h a small
sample o e i y he ques ionnai e's cla i y, eliabili y, and
alidi y, allowing o necessa y e isions be o e o icial
deploymen . The main quan i a i e s udy was conduc ed on a
la ge scale o enable ad anced s a is ical analysis and
hypo hesis es ing. Da a we e collec ed using a i e-poin
Like scale anging om 1 (“S ongly Disag ee”) o 5
(“S ongly Ag ee”). The inal measu emen model included
se en la en a iables and hi y- h ee obse ed indica o s:
i e indica o s o each o he i e independen and one
dependen a iable, and ou indica o s o bo h Compliance
wi h Accoun ing S anda ds (TT) and Fi m Size (QM).
387 esponses we e collec ed h ough bo h online
and ace- o- ace su eys, and a e da a cleaning, 350 alid
samples we e e ained o analysis. Da a we e ga he ed
be ween Ma ch and May 2025, co e ing a ious ypes o
en e p ises, including small and medium-sized en e p ises
(SMEs), la ge domes ic i ms, and o eign-in es ed
companies (FDIs). The da a we e analyzed using desc ip i e
s a is ics o summa ize sample cha ac e is ics and a iable
dis ibu ions. Scale eliabili y was assessed using C onbach’s
Alpha, and i ems wi h co ec ed i em- o al co ela ions below
0.3 o C onbach’s Alpha below 0.7 we e elimina ed.
Explo a o y Fac o Analysis (EFA) was employed o iden i y
ac o s uc u es and ensu e con e gen alidi y.
Following he explo a o y s age, Con i ma o y
Fac o Analysis (CFA) and S uc u al Equa ion Modeling
An Pham Thi e al, De e minan s o Co po a e Accoun ing Sys em E ec i eness in Vie nam: E idence on The
Media ing Role o Fi m Size
1019 A ailable a : www.ijsse s.o g
(SEM) we e applied o e alua e bo h he measu emen and
s uc u al models. SEM was chosen because i allows
simul aneous es ima ion o di ec , indi ec , and media ing
e ec s, p o iding a comp ehensi e iew o he ela ionships
among a iables. The model examined he in luence o i e
independen a iables: Accoun ing Technology (CN),
Accoun an Compe ency (NL), Compliance wi h Accoun ing
S anda ds (TT), Financial Resou ces (TC), and
O ganiza ional Cul u e (VH) on he dependen a iable,
Accoun ing Sys em E ec i eness (HQ), h ough he
media ing ole o Fi m Size (QM). The o e all model i was
e alua ed using indices such as χ²/d , CFI, TLI, RMSEA, and
SRMR. Acco ding o he ecommenda ions o Hai e al.
(2019), a sample size be ween 200 and 300 is gene ally
adequa e o models o mode a e complexi y; hence, he inal
da ase o 350 obse a ions sa is ies he s a is ical
equi emen s o SEM analysis.
4. RESULT AND DISCUSSION
Among he o al o 350 su eyed en e p ises, 46% ope a e in manu ac u ing, 34% in ade and se ices, and 20% in o he
sec o s. In e ms o business size, 42% a e small and medium-sized en e p ises, while 58% a e la ge i ms (Figu e 1; Figu e 2).
Figu e 2. Business Size
Sou ce: Compiled by he au ho , 2025
Figu e 1. Indus y
Sou ce: Compiled by he au ho , 2025
42%
58%
Small and Medium La ge
46%
34%
20%
Manu ac u ing T ade and Se ices O he s
An Pham Thi e al, De e minan s o Co po a e Accoun ing Sys em E ec i eness in Vie nam: E idence on The
Media ing Role o Fi m Size
1020 A ailable a : www.ijsse s.o g
4.1. Reliabili y es ing o measu emen scales
To assess in e nal consis ency, C onbach’s Alpha
eliabili y analysis was pe o med independen ly o each
cons uc . The esul s showed ha all ac o s achie ed
accep able eliabili y le els, wi h C onbach’s Alpha alues
exceeding 0.7, mee ing he ecommended h eshold
(Nunnally & Be ns ein, 1994). Du ing his p ocess, wo i ems:
NL1 and VH1 we e emo ed due o low i em- o al
co ela ions (< 0.3). Thei exclusion imp o ed he in e nal
consis ency o hei espec i e cons uc s. A e his
e inemen , all emaining i ems demons a ed sa is ac o y
eliabili y, indica ing ha he scales we e in e nally consis en
and sui able o subsequen analyses. Following his s ep, he
measu emen sys em con ained 31 obse ed indica o s ac oss
se en la en a iables.
4.2. Explo a o y ac o analysis (EFA)
A e con i ming in e nal eliabili y, Explo a o y
Fac o Analysis (EFA) was conduc ed o e i y he
con e gen and disc iminan alidi y o he obse ed
indica o s. The Kaise –Meye –Olkin (KMO) measu e o
sampling adequacy eached 0.782, which is conside ed “good”
acco ding o Kaise (1974). Ba le ’s Tes o Sphe ici y was
signi ican (χ² = 6846.265, p < 0.001), con i ming ha he
co ela ion ma ix was sui able o ac o ex ac ion. The EFA
esul s ex ac ed eigh ac o s wi h Eigen alues g ea e han
1, consis en wi h he heo e ical model. The cumula i e
a iance explained was 65.896%, indica ing ha he ac o s
collec i ely accoun ed o mo e han 65% o he o al
a iance, demons a ing s ong explana o y powe .
Du ing ac o o a ion, h ee obse ed indica o s,
CN3, TC1, and TC3, we e elimina ed due o ac o loadings
below 0.5, which did no mee he c i e ion o con e gen
alidi y. A e emo ing hese i ems, he inal da ase
included 28 obse ed indica o s ha loaded signi ican ly on
hei espec i e cons uc s, wi h all loadings abo e 0.5. The
esul s con i m ha he emaining i ems exhibi ed good
in e nal cohe ence and dis inc i eness ac oss cons uc s.
Table 1. Ro a ed componen ma ix
Componen
1
2
3
4
5
6
7
HQ4
,867
HQ3
,865
HQ2
,814
HQ1
,800
HQ5
,749
QM3
,910
QM2
,869
QM4
,840
QM1
,771
TT3
,787
TT2
,787
TT1
,763
TT4
,725
VH4
,846
VH3
,790
VH5
,763
VH2
,646
An Pham Thi e al, De e minan s o Co po a e Accoun ing Sys em E ec i eness in Vie nam: E idence on The
Media ing Role o Fi m Size
1021 A ailable a : www.ijsse s.o g
CN4
,748
CN2
,737
CN1
,733
CN5
,672
NL2
,731
NL3
,709
NL5
,626
NL4
,619
TC5
,756
TC4
,709
TC2
,673
Sou ce: Compiled by he au ho s, 2025
4.3. Con i ma o y ac o analysis
A e comple ing he explo a o y ac o analysis, he
s udy p oceeded wi h Con i ma o y Fac o Analysis (CFA) o
alida e he measu emen model and assess he e ained
indica o s' unidimensionali y, eliabili y, and cons uc
alidi y. The CFA esul s showed ha he measu emen
model achie ed a good o e all i wi h he collec ed da a.
Speci ically, he i indices we e as ollows: Chi-squa e (χ²) =
636.655, d = 384, χ²/d = 1.658, GFI = 0.934, CFI = 0.925,
TLI = 0.925, and RMSEA = 0.043 wi h PCLOSE = 0.967.
These esul s sa is y he ecommended h esholds p oposed
by Hai e al. (2019), and B owne & Cudeck (1993), whe e
χ²/d < 3, CFI and TLI > 0.9, and RMSEA < 0.06.
The s anda dized ac o loadings o all 28 obse ed
indica o s we e g ea e han 0.6, con i ming ha each i em
con ibu es signi ican ly o i s co esponding la en cons uc .
No c oss-loading o mul icollinea i y issues we e de ec ed,
indica ing sa is ac o y disc iminan alidi y. Mo eo e , he
high in e nal consis ency o he cons uc s was suppo ed by
Composi e Reliabili y (CR) alues exceeding 0.7 and
A e age Va iance Ex ac ed (AVE) alues g ea e han 0.5.
These indings collec i ely con i m ha he measu emen
model possesses adequa e eliabili y, con e gen alidi y, and
disc iminan alidi y, mee ing he s a is ical assump ions
equi ed o SEM analysis.
An Pham Thi e al, De e minan s o Co po a e Accoun ing Sys em E ec i eness in Vie nam: E idence on The
Media ing Role o Fi m Size
1022 A ailable a : www.ijsse s.o g
Figu e 3. Con i ma o y Fac o Analysis
Sou ce: Compiled by he au ho s, 2025
4.4. S uc u al equa ion modeling
A e alida ing he measu emen model, S uc u al
Equa ion Modeling (SEM) was employed o es he causal
ela ionships among he cons uc s and o e alua e he
p oposed hypo heses. The SEM esul s, p esen ed in Figu e 2,
con i m ha he model demons a es excellen goodness-o -
i indices: χ² = 636.655, d = 384, χ²/d = 1.658, GFI = 0.934,
CFI = 0.925, TLI = 0.925, and RMSEA = 0.043 wi h
PCLOSE = 0.967. All alues a e wi hin accep able anges,
