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Survival of new private enterprises in transition economies: The case of Vietnam

Author

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  • Nguyen Thi Nguyet

    (Central Institute for Economic Management, Hanoi, Vietnam)

Abstract

This paper focuses on determinants of survival of new private firms in the manufacturing sector in a transition economy, Vietnam, during the period 2000–2007. A semi-parametric Cox proportional hazard model is applied with a comprehensive specification of firm-specific, industrial and macroeconomic factors. There is strong evidence in market selection that labour productivity is the most important internal factor supporting firm survival. Other evidence is that firms with higher profitability in terms of profit per employee will have higher survival probability. For private firms, in terms of start-up factors, although total assets increase the probability of survival, total sales decrease it. Besides, industries which have increasing numbers of employees open favourable opportunities for new private firms. Furthermore, the macroeconomic factor, GDP, significantly supports the development of private firms.

Suggested Citation

  • Nguyen Thi Nguyet, 2016. "Survival of new private enterprises in transition economies: The case of Vietnam," Society and Economy, Akadémiai Kiadó, Hungary, vol. 38(1), pages 47-67, March.
    • Handle: RePEc:aka:soceco:v:38:y:2016:i:1:p:47-67
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    File URL: http://www.akademiai.com/doi/pdf/10.1556/204.2016.38.1.4
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    Cited by:

    1. Nguyet Thi Nguyen, 2023. "The Impact of Intellectual Capital on Service Firm Financial Performance in Emerging Countries: The Case of Vietnam," Sustainability, MDPI, vol. 15(9), pages 1-19, April.

    More about this item

    Keywords

    firm survival; determinants; new firms; private firms; manufacturing sector; transition economy; Cox proportional hazard model;
    All these keywords.

    JEL classification:

    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General

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