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Intangible Capital and Innovation: An Empirical Analysis of Vietnamese Enterprises

Qing Li and Long Vo ()
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Qing Li: Department of Economics and Finance, SILC Business School, Shanghai University.

No 21-02, Economics Discussion / Working Papers from The University of Western Australia, Department of Economics

Abstract: Intangible capital is an important growth driver in the modern knowledge-based and innovation-driven economy. While there seems to be sufficient support for the role of intangible capital from developed economies, evidence from fast-growing developing countries is much more limited. This paper explores the heterogeneous pattern and potential determinants of firm-level intangible capital investment in Vietnam. We found that firm size, human capital, and information and communication technology increase the likelihood to invest in intangible capital. Additionally, an inverted-U shaped relation is identified between market competition and intangible capital investment: Moderate levels of market competition induce firms in Vietnam to invest more in innovative activities, but the effect of stronger competition diminishes.

Keywords: Intangible capital investment; innovation; Vietnamese firms (search for similar items in EconPapers)
JEL-codes: O12 O34 R11 (search for similar items in EconPapers)
Pages: 32
Date: 2021
New Economics Papers: this item is included in nep-ict, nep-knm, nep-sbm, nep-sea, nep-tid and nep-tra
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