Le, Danh Vinh
[Verfasser:in]
;
Le, Huong T. T.
[Sonstige Person, Familie und Körperschaft];
Pham, Thanh
[Sonstige Person, Familie und Körperschaft];
Vo, Lai Van
[Sonstige Person, Familie und Körperschaft]
Access to Financing and Innovation in Small and Medium Enterprises in Vietnam
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 5, 2019 erstellt
Beschreibung:
In this paper, we examine the relation between small and medium-sized (SMEs) capacity to access external capital and innovation in Vietnam. We find that SMEs with a high debt ratio tend to be more innovative. After controlling for several firm characteristics, long-term debt remains significantly and positively correlated with innovation. We further show that both bank loans and loans from family and friends help SMEs innovate, especially in developing new products or technologies. Overall, our paper shows that external financing plays an important role in enhancing innovation in SMEs