Impact of financial constraints on the development of Vietnam’s firms

Autor:	Hung Nguyen Viet, Hoa Ha Quynh
Jazyk:	angličtina
Rok vydání:	2020
Předmět:	financial constraints productivity growth dynamic panel data model ordered probit and logit models tfp and tfp growth vietnam Business records management HF5735-5746
Zdroj:	Management Science Letters, Vol 10, Iss 8, Pp 1683-1692 (2020)
Druh dokumentu:	article
ISSN:	1923-9335 1923-9343
DOI:	10.5267/j.msl.2020.1.012
Popis:	This paper examines the impact of financial constraints on the development of Vietnamese firms driven by Total Factor Productivity (TFP) growth at the firm level. The effects of financial constraints by FCIf index on TFP growth of 97,860 firms are estimated by applying Dynamic Panel Data model over the period 2012-2017. The results show that there was a negative correlation between FCIf and labor productivity growth and TFP growth in all industries. While FCIf index is increased by 0.1, TFP growth of firms is reduced by 3.71%. The results also show that there was an inverse relationship between FCIf index, and the size of value added and assets of firms. Firms operating in manufacturing, wholesale and retail trade, and private firms face the biggest financial constraints.
Databáze:	Directory of Open Access Journals
Externí odkaz:	https://doaj.org/article/40e0bb72761f42a793c6bfd774bf325e Zobrazit plný text záznamu View record in DOAJ