The interplay of human and social capital in shaping entrepreneurial performance: the case of Vietnam

Santarelli, Enrico; Tran, Hien Thu

doi:10.1007/s11187-012-9427-y

Cited by 136 publications

(34 citation statements)

References 72 publications

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“…Researchers (Carree and Thurik 2005;Minniti 2007;Braunerhjelm 2008;Acs, Desai, and Hessels 2008;Acs and Virgill 2010;Wennekers and Thurik 1999) have identified the pivotal role of entrepreneurship in facilitating economic growth. While some attention has been directed towards the conditions for entrepreneurial growth in China (Zhou 2011), little attention, however, has been directed towards understanding the situation in Vietnam, except for some recent work (Santarelli and Tran 2012;Santarelli and Tran 2013;Tran and Santarelli 2014) addressing spillover effects and using a resource dependency framework. Vietnam, which has delivered substantial growth where other emerging transitional economies, including some in Europe, have continued to struggle, merits further attention.…”

Section: Introductionmentioning

confidence: 99%

Vietnam in transition: SMEs and the necessitating environment for entrepreneurship development

Nguyen

Mort

D’Souza

2015

Entrepreneurship & Regional Development

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A transitional economy has been characterized as experiencing a large amount of economic and social change. SMEs can be considered as the vehicle for entrepreneurship development in such a context. The purpose of this paper is to further the investigation of the favourability of the transitional environment on SMEs and entrepreneurship in Vietnam. Using a new approach, we analyse the transitional economy discourse via examining government policies, international organization reports and academic articles on Vietnam. Our findings suggest that, in Vietnam, compared to an overall normative framework developed from a wide literature review, the settings generally support a vibrant transitional entrepreneurship development and SMEs. However, more needs to be done to build up favourable sociocultural setting and effective business support systems in the country. Implications for the relevant stakeholders and suggestions for future research in the East Asian and Central and Eastern Europe regions are also provided.

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Section: Introductionmentioning

confidence: 99%

Vietnam in transition: SMEs and the necessitating environment for entrepreneurship development

Nguyen

Mort

D’Souza

2015

Entrepreneurship & Regional Development

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“…Harada, 2003;Millán et al, 2012). In Santarelli and Tran (2013), however, it has a negative relationship with generated profit. These people could be considered "opportunists" (Storey, 1994).…”

Section: Variablesmentioning

confidence: 98%

“…Research has verified a positive effect on new firm performance when the founder has prior work experience in the same sector (e.g. Cooper et al, 1994;Millán et al, 2012;Santarelli and Tran, 2013). These individuals have developed their expertise and experience, and they are able to bring such knowledge to their new firms.…”

Section: Variablesmentioning

confidence: 99%

“…Some studies suggest that firms run by mature entrepreneurs perform better (Van Praag, 2003). Others indicate that there may be a negative relationship between age and generated profit (Santarelli and Tran, 2013). Finally, Bosma et al (2004) find that age has no impact on firm performance.…”

Section: Variablesmentioning

confidence: 99%

“…According to many studies, a founder's education enhances performance (e.g. Baptista et al, 2012;Bosma et al, 2004;Santarelli and Tran, 2013). Better educated entrepreneurs may have a greater ability to solve problems and make decisions.…”

Section: Variablesmentioning

confidence: 99%

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Lender evaluations of start-up business prospects

Miettinen

Niskanen

2015

Managerial Finance

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If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. AbstractPurpose -The purpose of this paper is to investigate lender evaluations of start-up success in a sample of Finnish firms that are customers of a state-owned financial institution. The database allows the authors to examine how qualitative information, based on the personal history, firm-specific characteristics, subjective credit-analyst evaluations of business prospects, and market position impact firm performance. Design/methodology/approach -The data for this study was collected in 2003 and 2005 from the database of Finnvera, a state-owned financial institution. The authors employed logistic regression in the analyses, using t-test analyses to describe the sample before developing the different models. Findings -The results suggest that the lenders' evaluations of the business prospects at the start are suitable predictors of good performance. However, the determinants of the actual firm performance (at t5) and business prospects (at t0) are, to some extent, different. The results confirm previous findings indicating that humans display fallibility because they have a tendency to overestimate less relevant cues and, conversely, underestimate the more relevant ones.Research limitations/implications -The study data includes only the customers of a state-owned financial institution; therefore, the results cannot be generalized across other financiers. Another constraint relates to the pre-selection bias, since this data excludes information on loan applicants who were rejected, which was not recorded in the lender's files. Practical implications -The findings of this study provide lenders (especially state-owned financiers), policy makers, and entrepreneurs with clearer guidance regarding the important aspects of a firm's period of establishment. For lenders, this may provide a step toward improving the quality of judgments. Originality/value -This paper is one of the few that sheds light on lender evaluations using non-accounting variables in order to examine their ability to predict firm performance, not failure, and to compare it with lenders' evaluation. Another original contribution is that the data consists of the customers of a state-owned financial institution.

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Small business investment: The importance of financing strategies and social networks

Nguyen

2020

Int. J Fin Econ

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This study examines the association between financing strategies and firm investments. Employing theory of financing constraints and literature on formal/informal financing of small businesses to investigate a set of 15,851 observations of Vietnamese small businesses in 11 years, we suggest a pecking order of financing strategies in terms of firm investments, in ascending order as follows: (a) firms using no external finance, (b) firms using informal finance only, (c) firms using both formal and informal finance and (d) firms using formal finance only. In addition, we incorporate the theory of social capital to explore the moderating effect of networking on the relationship between financing and investment. Empirical results show that networks may enhance the relationship between informal finance and firm investments but not formal finance.

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The interplay of human and social capital in shaping entrepreneurial performance: the case of Vietnam

Cited by 136 publications

References 72 publications

Vietnam in transition: SMEs and the necessitating environment for entrepreneurship development

Vietnam in transition: SMEs and the necessitating environment for entrepreneurship development

Lender evaluations of start-up business prospects

Small business investment: The importance of financing strategies and social networks

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