Intangible capital is an important growth driver in the modern knowledge-based and innovation-driven economy. While there seems to be sufficient support for the role of intangible capital from developed economies, evidence from fast-growing developing countries is much more limited. This paper explores the heterogeneous pattern and potential determinants of firm-level intangible capital investment in Vietnam. We found that firm size, human capital, and information and communication technology increase the likelihood to invest in intangible capital. Additionally, an inverted-U shaped relation is identified between market competition and intangible capital investment: Moderate levels of market competition induce firms in Vietnam to invest more in innovative activities, but the effect of stronger competition diminishes.
|Place of Publication||Australia|
|Publisher||Department of Economics, UWA|
|Number of pages||32|
|Publication status||Unpublished - Feb 2021|
|Name|| Economics Discussion Papers Series|
|Publisher||Economics Department, UWA Business School|