Revisiting Italian Emigration Before the Great War: A Test of the Standard Economic Model
This paper investigates the determinants of innovative activities and the innovation-performance relationship for the firm population in Vietnam in three consecutive stages: decision – investment – outcome. Cragg’s two-tiered dynamic type-2 Tobit model and instrumental variable GMM method are applied to control for the selectivity and endogeneity of R&D and innovation. After controlling for ownership types, industry and regional fixed-effects, key findings include:(i) R&D and innovation activities not only stimulate firms’ profitability and growth of sales, but also increase their survival propensity; (ii) private innovative firms significantly outperform their peers whereas the combination of young, small, and innovative characteristics in young innovative companies (YICs) does not bring the expected higher entrepreneurial performance as how it works in advanced countries; (iii) highly-leveraged firms, exporting firms, and diversified firms are more likely to be innovative than their counterparts, but the ability to transform innovative efforts into higher profitability and growth can only be witnessed among diversified firms; and (iv) firms being endowed with larger asset pool have more favorable conditions to engage in innovation activities, but do not necessarily produce superior performance relatively to their smaller counterparts. However, firm labor size is positively associated with both R&D intensity and entrepreneurial performance of firms. The dataset of population of existing firms (from 2000 to 2005) extracted from the annual enterprise survey conducted by Vietnam General Statistics Organization (GSO) is used for the empirical analysis.
|Date of creation:||Oct 2013|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +39 051 209 8019 and 2600
Fax: +39 051 209 8040 and 2664
Web page: http://www.dse.unibo.it
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Rosenbusch, Nina & Brinckmann, Jan & Bausch, Andreas, 2011. "Is innovation always beneficial? A meta-analysis of the relationship between innovation and performance in SMEs," Journal of Business Venturing, Elsevier, vol. 26(4), pages 441-457, July.
- Opler, Tim C & Titman, Sheridan, 1994. " Financial Distress and Corporate Performance," Journal of Finance, American Finance Association, vol. 49(3), pages 1015-40, July.
- Cragg, John G, 1971. "Some Statistical Models for Limited Dependent Variables with Application to the Demand for Durable Goods," Econometrica, Econometric Society, vol. 39(5), pages 829-44, September.
- E. Santarelli & H. T. Tran, 2012.
"The Interplay of Human and Social Capital in Shaping Entrepreneurial Performance: The Case of Vietnam,"
wp803, Dipartimento Scienze Economiche, Universita' di Bologna.
- Enrico Santarelli & Hien Tran, 2013. "The interplay of human and social capital in shaping entrepreneurial performance: the case of Vietnam," Small Business Economics, Springer, vol. 40(2), pages 435-458, February.
- Romero, Isidoro & Martínez-Román, Juan A., 2012. "Self-employment and innovation. Exploring the determinants of innovative behavior in small businesses," Research Policy, Elsevier, vol. 41(1), pages 178-189.
- Audretsch, David B., 1995. "Innovation, growth and survival," International Journal of Industrial Organization, Elsevier, vol. 13(4), pages 441-457, December.
- Klepper, Steven, 1996. "Entry, Exit, Growth, and Innovation over the Product Life Cycle," American Economic Review, American Economic Association, vol. 86(3), pages 562-83, June.
- Anton, James J & Yao, Dennis A, 1994. "Expropriation and Inventions: Appropriable Rents in the Absence of Property Rights," American Economic Review, American Economic Association, vol. 84(1), pages 190-209, March.
- Arellano, Manuel & Bond, Stephen, 1991.
"Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations,"
Review of Economic Studies,
Wiley Blackwell, vol. 58(2), pages 277-97, April.
- Tom Doan, . "RATS program to replicate Arellano-Bond 1991 dynamic panel," Statistical Software Components RTZ00169, Boston College Department of Economics.
- Sofronis K. Clerides & Saul Lach & James R. Tybout, 1998.
"Is Learning By Exporting Important? Micro-Dynamic Evidence From Colombia, Mexico, And Morocco,"
The Quarterly Journal of Economics,
MIT Press, vol. 113(3), pages 903-947, August.
- Sofronis Clerides & Saul Lach & James Tybout, 1996. "Is "Learning-by-Exporting" Important? Micro-Dynamic Evidence from Colombia, Mexico and Morocco," NBER Working Papers 5715, National Bureau of Economic Research, Inc.
- Sofronis Clerides & Saul Lach & James Tybout, 1996. "Is "learning-by-exporting" important? Micro-dynamic evidence from Colombia, Mexico and Morocco," Finance and Economics Discussion Series 96-30, Board of Governors of the Federal Reserve System (U.S.).
- Lotti, Francesca & Santarelli, Enrico & Vivarelli, Marco, 2007.
"Defending Gibrat’s Law as a Long-Run Regularity,"
IZA Discussion Papers
2744, Institute for the Study of Labor (IZA).
- Schneider, Cedric & Veugelers, Reinhilde, 2008. "On Young Innovative Companies: Why they matter and how (not) to policy support them," Working Papers 04-2008, Copenhagen Business School, Department of Economics.
- Cefis, Elena & Marsili, Orietta, 2006. "Survivor: The role of innovation in firms' survival," Research Policy, Elsevier, vol. 35(5), pages 626-641, June.
- Krugman, Paul, 1979. "A Model of Innovation, Technology Transfer, and the World Distribution of Income," Journal of Political Economy, University of Chicago Press, vol. 87(2), pages 253-66, April.
- Blundell, Richard & Griffith, Rachel & van Reenen, John, 1999. "Market Share, Market Value and Innovation in a Panel of British Manufacturing Firms," Review of Economic Studies, Wiley Blackwell, vol. 66(3), pages 529-54, July.
- Criscuolo, Paola & Nicolaou, Nicos & Salter, Ammon, 2012. "The elixir (or burden) of youth? Exploring differences in innovation between start-ups and established firms," Research Policy, Elsevier, vol. 41(2), pages 319-333.
- Mariacristina Piva & Marco Vivarelli, 2009. "The role of skills as a major driver of corporate R&D," International Journal of Manpower, Emerald Group Publishing, vol. 30(8), pages 835-852, November.
- Del Canto, Jesus Galende & Gonzalez, Isabel Suarez, 1999. "A resource-based analysis of the factors determining a firm's R&D activities," Research Policy, Elsevier, vol. 28(8), pages 891-905, November.
- Czarnitzki, Dirk & Delanote, Julie, 2012.
"Young innovative companies: The new high-growth firms?,"
ZEW Discussion Papers
12-030, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Dirk Czarnitzki & Julie Delanote, 2013. "Young Innovative Companies: the new high-growth firms?," Industrial and Corporate Change, Oxford University Press, vol. 22(5), pages 1315-1340, October.
- Artés, Joaquín, 2009. "Long-run versus short-run decisions: R&D and market structure in Spanish firms," Research Policy, Elsevier, vol. 38(1), pages 120-132, February.
- Patrick A.M. Vermeulen & Jeroen P.J. De Jong & K.C. O'shaughnessy, 2005. "Identifying key determinants for new product introductions and firm performance in small service firms," The Service Industries Journal, Taylor & Francis Journals, vol. 25(5), pages 625-640, July.
- Andrea Vaona & Mario Pianta, 2008.
"Firm Size and Innovation in European Manufacturing,"
Small Business Economics,
Springer, vol. 30(3), pages 283-299, March.
- Mario Pianta & Andrea Vaona, 2006. "Firm size and Innovation in European Manufacturing," Kiel Working Papers 1284, Kiel Institute for the World Economy.
- Dosi, Giovanni, 1988. "Sources, Procedures, and Microeconomic Effects of Innovation," Journal of Economic Literature, American Economic Association, vol. 26(3), pages 1120-71, September.
- Werner Hölzl, 2009.
"Is the R&D behaviour of fast-growing SMEs different? Evidence from CIS III data for 16 countries,"
Small Business Economics,
Springer, vol. 33(1), pages 59-75, June.
- Werner Hölzl, 2008. "Is the R&D Behaviour of Fast Growing SMEs Different? Evidence from CIS III Data for 16 Countries," WIFO Working Papers 327, WIFO.
- Raymond Wladimir & Mohnen Pierre & Palm Franz & Schim van der Loeff Sybrand, 2006.
"Persistence of Innovation in Dutch Manufacturing: Is it Spurious?,"
009, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
- Wladimir Raymond & Pierre Mohnen & Franz Palm & Sybrand Schim van der Loeff, 2010. "Persistence of Innovation in Dutch Manufacturing: Is It Spurious?," The Review of Economics and Statistics, MIT Press, vol. 92(3), pages 495-504, August.
- Wladimir Raymond & Pierre Mohnen & Franz Palm & Sybrand Schim van der Loeff, 2006. "Persistence of Innovation in Dutch Manufacturing: Is it Spurious?," CIRANO Working Papers 2006s-04, CIRANO.
- Mohnen, Pierre & Schim van der Loeff, S. & Palm, Franz & Raymond, Wladimir, 2006. "Persistence of Innovation in Dutch Manufacturing: Is it Spurious?," MERIT Working Papers 011, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
- Wladimir Raymond & Pierre Mohnen & Franz Palm & Sybrand Schim van der Loeff, 2006. "Persistence of Innovation in Dutch Manufacturing: Is it Spurious?," CESifo Working Paper Series 1681, CESifo Group Munich.
- Alpaslan Akay, 2012. "Finite‐sample comparison of alternative methods for estimating dynamic panel data models," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 27(7), pages 1189-1204, November.
- Martin Carree & Antonio Malva & Enrico Santarelli, 2014.
"The contribution of universities to growth: empirical evidence for Italy,"
The Journal of Technology Transfer,
Springer, vol. 39(3), pages 393-414, June.
- M. Carree & A. Della Malva & E. Santarelli, 2011. "The Contribution of Universities to Growth: Empirical Evidence for Italy," Working Papers wp793, Dipartimento Scienze Economiche, Universita' di Bologna.
- Zoltan Acs & David Audretsch, 1990. "Innovation and Small Firms," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011131, June.
- Krammer, Sorin M.S., 2009. "Drivers of national innovation in transition: Evidence from a panel of Eastern European countries," Research Policy, Elsevier, vol. 38(5), pages 845-860, June.
- Czarnitzki, Dirk & Kraft, Kornelius, 2000.
"Management Control and Innovative Activity,"
ZEW Discussion Papers
00-68, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Jeffrey M Wooldridge, 2002.
"Simple solutions to the initial conditions problem in dynamic, nonlinear panel data models with unobserved heterogeneity,"
CeMMAP working papers
CWP18/02, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
- Jeffrey M. Wooldridge, 2005. "Simple solutions to the initial conditions problem in dynamic, nonlinear panel data models with unobserved heterogeneity," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 20(1), pages 39-54.
- Mitali Das & Whitney K. Newey & Francis Vella, 2003.
"Nonparametric Estimation of Sample Selection Models,"
Review of Economic Studies,
Oxford University Press, vol. 70(1), pages 33-58.
- Mitali Das & Whitney K. Newey & Francis Vella, 2003. "Nonparametric Estimation of Sample Selection Models," Review of Economic Studies, Wiley Blackwell, vol. 70(1), pages 33-58, January.
- Kleinknecht, Alfred, 1987. "Measuring R&D in Small Firms: How Much Are We Missing?," Journal of Industrial Economics, Wiley Blackwell, vol. 36(2), pages 253-56, December.
- Joshua S. Gans & David H. Hsu & Scott Stern, 2000.
"When Does Start-Up Innovation Spur the Gale of Creative Destruction?,"
NBER Working Papers
7851, National Bureau of Economic Research, Inc.
- Joshua S. Gans & David H. Hsu & Scott Stern, 2002. "When Does Start-Up Innovation Spur the Gale of Creative Destruction?," RAND Journal of Economics, The RAND Corporation, vol. 33(4), pages 571-586, Winter.
- Hien Thu Tran & Enrico Santarelli, 2013. "Capital Constraints and the Performance of Entrepreneurial Firms in Vietnam," Working Paper Series 32_13, The Rimini Centre for Economic Analysis.
- Kumar, Nagesh & Saqib, Mohammed, 1996. "Firm size, opportunities for adaptation and in-house R & D activity in developing countries: the case of Indian manufacturing," Research Policy, Elsevier, vol. 25(5), pages 713-722, August.
- Yih-Chyi Chuang & Chi-Mei Lin, 1999. "Foreign direct investment, R&D and spillover efficiency: Evidence from Taiwan's manufacturing firms," Journal of Development Studies, Taylor & Francis Journals, vol. 35(4), pages 117-137.
- Joze P. Damijan & Mark Knell & Boris Majcen & Matija Rojec, 2003. "Technology Transfer through FDI in Top-10 Transition Countries: How Important are Direct Effects, Horizontal and Vertical Spillovers?," William Davidson Institute Working Papers Series 549, William Davidson Institute at the University of Michigan.
- Re-Jin Guo & Baruch Lev & Charles Shi, 2006. "Explaining the Short- and Long-Term IPO Anomalies in the US by R&D," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 33(3-4), pages 550-579.
- Sheng‐Kai Chang, 2011. "Simulation estimation of two‐tiered dynamic panel Tobit models with an application to the labor supply of married women," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 26(5), pages 854-871, 08.
- Francesca Lotti & Enrico Santarelli & Marco Vivarelli, 2003. "Does Gibrat's Law hold among young, small firms?," Journal of Evolutionary Economics, Springer, vol. 13(3), pages 213-235, August.
- Albert G. Z. Hu & Gary H. Jefferson & Qian Jinchang, 2005. "R&D and Technology Transfer: Firm-Level Evidence from Chinese Industry," The Review of Economics and Statistics, MIT Press, vol. 87(4), pages 780-786, November.
When requesting a correction, please mention this item's handle: RePEc:bol:bodewp:wp909. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Luca Miselli)The email address of this maintainer does not seem to be valid anymore. Please ask Luca Miselli to update the entry or send us the correct address
If references are entirely missing, you can add them using this form.