R&D, training and accessibility to finance for innovation: a case of Vietnam, the country in transition

ABSTRACT

Innovation is consulted a very important activity for any firm and organization especially for business units in a transitional country. By using a binary logistic regression with Vietnam Enterprise Surveys data from World Bank project, this research finds that R&D played a vital role in encouraging innovative activities. Moreover, formal training within businesses has very strong and significant effects on all four different measures of innovation. What's more is that if a manager has experience of 5 or 15 in years in comparison with longer years of experience, marginal effects to probability of occurrence for organizational innovation likely come into being higher. Interestingly, higher obstacles for accessing to financial resources do not reduce innovative level but it does get business units have higher propensity to marketing innovation.

KEYWORDS:

• Vietnam
• innovation
• R&D
• training
• accessibility to finance

JEL CLASSIFICATION CODES:

• C50
• M21
• M31
• O32
• O31

Disclosure statement

No potential conflict of interest was reported by the authors.

Notes on contributors

Won Joong Kim is a professor at the Department of Economics, Konkuk University. He has been an Associate Professor at Kangwon National University (2008–2013), Research Fellow at Korea Information Society Development Institute (2007–2008) and Research Fellow at POSCO Research Institute (2006–2007). His research fields include international economics, macroeconomics and resource economics. His recent publications are in Journal of Innovation Management, Social Indicators Research and International Review of Economics and Finance.

Tran Viet Hoi is a lecturer at Hanoi University of Industry. He is currently a Ph.D. student in the field of engineering. His research trends are on engineering, data interpretation, training, manufacturing and innovation.

La Ngoc Tuan is a lecturer and vice headmaster at Thanh Hoa Vocational College of Industry. His research focuses on coaching in industry, knowledge sharing and creativity.

Nguyen Ngoc Trung is a researcher at Institute of Human Studies, Vietnam Academy of Social Sciences (VASS). He obtained doctoral degree from Kangwon National University, South Korea. His research interests are human resources, training, creativity and innovation.

ORCID

Won Joong Kim http://orcid.org/0000-0001-9630-3054

Nguyen Ngoc Trung http://orcid.org/0000-0001-9369-5283

Additional information

Funding

This work was supported by Korea Foundation: [Grant Number Korea Foundation’s 2016 Fellowship].