01/02/2024 12:49

The Impact of Intellectual Capital on Service Firm Financial Performance in Emerging Countries: The Case of Vietnam

                                                                                                                                                          by Nguyet Thi Nguyen Abstract This paper evaluates the effect of intellectual capital (IC) on firm financial performance in the service sector in an emerging country, Vietnam. This research is dissimilar from earlier ones for the following reasons: (i) this is the first study of IC’s impact on service firms at different knowledge intensity levels, sizes, and ownerships in an emerging country, Vietnam; (ii) it expresses empirical evidence in details of service activities, particularly the research and development, financial, and technology services that play significant roles for the development of emerging countries; (iii) it examines the effects of the gender issue, firms’ responsiveness to the government and employees, and market concentration. Applying the two-step system GMM model for the period 2005–2014, the results express that IC components generally had significant impacts on firm performance. Human capital efficiency had the strongest positive impact while capital employed efficiency had the second strongest impact. The impact of structural capital efficiency was inconsistent, depending on the knowledge intensity levels and the types of service activities. IC is more efficient for knowledge-intensive sub-sectors than the less knowledge-intensive ones. IC efficiencies differ among knowledge intensity levels, sizes, and ownerships, suggesting that policy makers and firm leaders should implement corresponding solutions.

01/02/2024 12:17

SMES survival and knowledge in emerging economies: evidence from Vietnam

                                                                                                                                                                 Nguyet Nguyen Thi Abstract This paper evaluates how knowledge affecting the survival of new private small and medium sized enterprises (SMEs) in an emerging economy like Vietnam. The panel data extracted from the national surveys allow for comprehensive analysis during the period 2005–2011 with the semi-parametric Cox proportional hazard model. The study examines knowledge factors under controlling firm-specific and industrial factors. The findings express strong evidence that Vietnamese SMEs benefit strongly from knowledge development. The findings suggest firms to foster labor productivity, value added, and computerization. There is evidence of market selection, based on efficiency of investment. Besides, firms should improve return on sales, especially in growing market. Start-up SMEs should prepare sufficient total assets, not basing on leverage to enter the market. Start-up in industries with high growth, especially at the early stages of the life cycle will require more government support. These findings provide the evidence for policy improvement to help SMEs in the development of knowledge economy.

31/01/2024 16:51

Việt Nam - China cooperate in Belt and Road Initiative implementation

Over the past time, cooperation and connection between Việt Nam and China in general, and connection within the BRI framework in particular, have achieved some remarkable results, but some shortcomings need to be addressed.