Dynamic entrepreneurship, planned innovation, and firm profitability: evidence from a Southeast Asian country
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11640%2F21%3A00544820" target="_blank" >RIV/00216208:11640/21:00544820 - isvavai.cz</a>
Result on the web
<a href="https://doi.org/10.1016/j.heliyon.2021.e07599" target="_blank" >https://doi.org/10.1016/j.heliyon.2021.e07599</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.heliyon.2021.e07599" target="_blank" >10.1016/j.heliyon.2021.e07599</a>
Alternative languages
Result language
angličtina
Original language name
Dynamic entrepreneurship, planned innovation, and firm profitability: evidence from a Southeast Asian country
Original language description
This study applies the theory of planned behaviors to evaluate economic outcomes resulting from planned innovation and dynamic entrepreneurship of Vietnamese firms. The analysis uses data on Vietnamese small and medium manufacturing firms from surveys conducted by United Nations University World Institute for Development Economics Research (UNU-WIDER) during 2005–2015. Employing various estimation techniques including normal standard one-side regressions (fixed effect models, panel robust model, and Pds-lasso) and two-side structural two-stage models (extended regression model, treatment effect model, and IV-Lasso), we analyze the impacts of innovation activities on firm profitability in connection to the role of dynamic entrepreneurship and planned innovation. We measure planned innovation by the interaction between intention to innovate and firm innovation activities. The study shows that planned innovation is associated with higher profitability for firms. This holds true for all three innovation activities including introduction of a new product, introduction of a new production process and improvements to existing products/processes. In light of the theory of planned behaviors, entrepreneurial intentions embedded in planned innovation can underlie a comprehensive plan and action that drives the innovation process. The findings suggest that for small and medium enterprises (SMEs) to thrive, willingness to pursue innovation by the firm owners is key to success as the intention to innovate will enable firms to gain a planning advantage. This advantage leads to a better resource allocation within the firms, shaping more effective strategies to implement a planned innovation. Overall, the study provides an important implication for the introduction of support schemes that promote innovation for SMEs in Vietnam. Any support schemes, introduced either by the public or private sector to target SMEs, should be engaged with the group of dynamic entrepreneurs who have intentions to innovate to warrant a higher chance of success.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50202 - Applied Economics, Econometrics
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach<br>I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2021
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Heliyon
ISSN
2405-8440
e-ISSN
2405-8440
Volume of the periodical
7
Issue of the periodical within the volume
7
Country of publishing house
GB - UNITED KINGDOM
Number of pages
9
Pages from-to
e07599
UT code for WoS article
000687266500005
EID of the result in the Scopus database
2-s2.0-85111003328