Factors affecting the adoption extent of the balanced scorecard by Vietnamese small- and medium-sized enterprises Dieu Thuong Ha Faculty of Accounting and Finance, Hue University of Economics, Hue University, Hue, Vietnam Thanh Le School of Business, Faculty of Business and Law, University of Wollongong, Wollongong, Australia Greg Fisher College of Business, Government, and Law, Flinders University, Adelaide, Australia, and Thanh Truc Nguyen Faculty of Economics, Tay Nguyen University, Buon Ma Thuot, Vietnam Abstract Purpose – This study empirically examines factors affecting the extent of balanced scorecard (BSC) adoption in Vietnamese small- and medium-sized enterprises (SMEs) such as top management involvement, an innovative culture, a product innovation strategy, organisational resources, a competitive environment and business network support. This study aims to gain an improved understanding and draw important lessons on BSC adoption for SMEs. Design/methodology/approach – Using primary data obtained from a survey of top managers of SMEs that have experienced some forms of BSC adoption, the authors conduct their analysis using exploratory factor analysis and regression analysis methods. Findings – The authors find that top management involvement, an innovative culture, organisational resources and business network support are essential factors impacting the extent of BSC adoption in Vietnamese SMEs. Besides confirming literature findings on these variables, the authors identify support of business networks as another important factor affecting the extent of BSC adoption, alongside location and business owners’ experience. However, the impacts of a product innovation strategy and a competitive environment are not significant. Research limitations/implications – This study adapts scales previously designed for large enterprises in developed countries to fit into the context of Vietnamese SMEs. Future research can take advantage of this new set of scales and data to obtain further research results. Practical implications – This study will serve as guidance for SMEs considering BSC adoption to have a clear vision of what factors are likely to affect BSC adoption, how they affect it and in what direction. Social implications – Lessons learned can be extended not only to Vietnamese SMEs that have not yet adopted the BSC but also to firms in other countries with similar economic conditions. Originality/value – This study is among pioneering studies on BSC in SMEs and within the context of Vietnam. Keywords Vietnam, Impact factors, Balanced scorecard, Adoption, Contingency variables, Small- and medium-sized enterprises, SMEs Paper type Research paper Balanced scorecard Received 4 August 2020 Revised 28 November 2020 27 March 2021 27 June 2021 19 August 2021 3 November 2021 Accepted 10 November 2021 Accounting Research Journal © Emerald Publishing Limited 1030-9616 DOI 10.1108/ARJ-08-2020-0221 The current issue and full text archive of this journal is available on Emerald Insight at: https://www.emerald.com/insight/1030-9616.htm