Which Factors Help SMES’ Performance Recover Post-Pandemic? The Role of Learning Capability, Intellectual Capital, and Technological Innovation

SMEs are significantly affected by the COVID-19 pandemic. This study examines how these variables interact to help SMEs recover and develop sustainably. The quantitative method is adopted in this paper. The research data was acquired from 450 SMEs in several industries in Vietnam. Research results show that learning capability improves intellectual capital and SMEs’ performance. Next, technological innovation moderated the link between learning capability, intellectual capital, and SMEs performance, suggesting that integration can improve SMEs’ recovery and resilience. Driven by research findings, SMEs should develop a learning culture and technological innovation to leverage performance during the turbulent circumstances of COVID-19. Furthermore, managers should invest in intellectual capital to support innovation during recovery and growth. Policymakers may help SMEs by encouraging learning organization, information sharing, and technology adoption. These measures can help SMEs thrive post-pandemic and revitalize local and global economies.