DETERMINANTS OF FIRM-LEVEL INNOVATION PERFORMANCE: NEW EVIDENCES FROM ASEAN MANUFACTURING FIRMS

Lan Khanh Chu and Dung Phuong Hoang
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Lan Khanh Chu: Banking Research Institute, Vietnam Banking Academy, No. 12, Chua Boc Street, Dong Da District, Hanoi City, Vietnam
Dung Phuong Hoang: Faculty of International Business, Vietnam Banking Academy, No. 12, Chua Boc Street, Dong Da District, Hanoi City, Vietnam

The Singapore Economic Review (SER), 2022, vol. 67, issue 03, 953-983

Abstract: Based on the stakeholder theory, we posit that firms’ innovation, as a strategic choice, is determined by not only firms’ resources but also their pressures from different stakeholders and relationship with the government. Using a dataset of 3,444 firms in seven ASEAN countries, we find that firms’ innovative outputs are positively influenced by export orientation and fierce competition but restrained by the presence of foreign investment. In addition, while strengthening the relationship with government facilitates, the chance to create some types of innovation, could magnify or dampen the effects of those pressures on firms’ innovation. Our findings have useful implications for the firms’ managers to accumulate and spend resources to build up a strong capacity for innovation. For the governments in ASEAN region, they should focus on improving the institutional quality and providing incentives for foreign investments that only bring advanced technologies and spillover effects.

Keywords: Innovation; manufacturing; ASEAN; small and medium firms; institutional quality (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1142/S0217590821450016

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