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Factors Affecting Firm Innovation: An Evidence from Vietnam

In: Fostering Recovery Through Metaverse Business Modelling

Author

Listed:
  • Khanh Hung Doan

    (Bucharest University of Economic Studies)

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.

Suggested Citation

  • Khanh Hung Doan, 2023. "Factors Affecting Firm Innovation: An Evidence from Vietnam," Springer Proceedings in Business and Economics, in: Alina Mihaela Dima & Elena Rodica Danescu (ed.), Fostering Recovery Through Metaverse Business Modelling, pages 197-210, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-28255-3_15
    DOI: 10.1007/978-3-031-28255-3_15
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