Factors Affecting Firm Innovation: An Evidence from Vietnam

Khanh Hung Doan ()
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Khanh Hung Doan: Bucharest University of Economic Studies

A chapter in Fostering Recovery Through Metaverse Business Modelling, 2023, pp 197-210 from Springer

Abstract: Abstract Firm innovation plays an essential role in the development of enterprises. A firm with innovation can provide products that meet the ever-changing needs of the market and the demands of consumers. From there, it is possible to improve the competitiveness of enterprises in the market, especially in the current, constantly fierce competitive environment. Therefore, building a firm innovation is a significant task for enterprises and policy makers. However, firm innovation is influenced by many internal and external factors of the enterprise. Therefore, it is necessary to identify the factors that affect the firm innovation. From this, they can offer solutions that contribute to the development of firm innovation in a better way. This article focuses on determining the factors affecting firm innovation in the specific case of enterprises operating in Vietnam. Vietnam is a developing country and a young economy with many types of enterprises. The study was carried out based on a sample of 916 enterprises in Vietnam. These research data were provided through the World Bank's Enterprises Survey in 2015. The binary logistic regression method is used. The results show that factors such as the top manager's period work experience, the competition of the firm, the access to finance, corruption, the number of employees of enterprises, and trained workers are factors affecting the firm innovation in Vietnam. Through this article, stakeholders such as businesses, local managers, and policymakers in Vietnam will have solutions to improve the firm innovation. The paper ends with a discussion of the results and implications of the study.

Keywords: Innovation; Firm innovation; Binary logistic; Vietnam; Barriers (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-28255-3_15

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DOI: 10.1007/978-3-031-28255-3_15

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