Institutional environment, human capital, and firm growth: Evidence from Vietnam

Thomas Gries and van Dung Ha ()
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van Dung Ha: University of Paderborn

No 83, Working Papers CIE from Paderborn University, CIE Center for International Economics

Abstract: In this paper, we investigate the impacts of the institutional environment and the entrepreneur’s education on firm growth in Vietnam. Using a firm-level dataset, we obtain a balanced panel data from 2006 to 2009 for 37,788 registered enterprises from a unique data set. We analyze the effects of the institutional factors on the growth of firms using the system GMM analysis. We find that in accordance to recent theoretical literature, higher level of institutional factors such as business support service, land access, time costs, and informal charges will promote firm growth in both employment and capital. Furthermore the impacts of institutional factors are more significant in capital growth of firms. In addition to the insight, we look at the impacts of entrepreneur’s education on firm growth. We use the fixed effects estimation method and obtain the results supporting the hypothesis that higher level of entrepreneur’s education will associate with a higher growth of firms.

Keywords: firm growth; institutional factors; human capital; entrepreneurship; capital structure. (search for similar items in EconPapers)
JEL-codes: O12 O16 (search for similar items in EconPapers)
Pages: 45 pages
Date: 2014-06
New Economics Papers: this item is included in nep-cse, nep-ent, nep-sbm, nep-sea and nep-tra
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Persistent link: https://EconPapers.repec.org/RePEc:pdn:ciepap:83

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