Intangible Capital and Innovation: An Empirical Analysis of Vietnamese Enterprises

Long Hai Vo, Qing Li

Research output: Working paperDiscussion paper


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.
Original languageEnglish
Place of PublicationAustralia
PublisherDepartment of Economics, UWA
Number of pages32
Publication statusUnpublished - Feb 2021

Publication series

Name Economics Discussion Papers Series
PublisherEconomics Department, UWA Business School


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