ORGANIZING COMMITTEE
5. DISCUSSION AND CONCLUSION
46 THE THIRD INTERNATIONAL CONFERENCE ON: “FINANCE AND ACCOUNTING FOR THE PROMOTION OF SUSTAINABLE...
and management capacity, the scale of operation is mainly small and micro, so the investment capacity and technological innovation in private enterprises are very limited. Even backward, the way of organization is also outdated, cannot keep up with the development of the market, so the competitiveness is low.
Dummy variable D_SMEs shows that institutional improvement promotes the activities of large private enterprises more than small and medium-sized private enterprises. Because large-scale enterprises have the advantages of large-scale, they can easily adapt to the innovation of the business environment and gain a better competitive advantage.
The control variables for brand and economic regions are statistically significant, showing that the impact of business environment institutions is different between industries and regions.
This result is supported by previous studies such as Anh and Phuong (2015); Tuyen et al (2016).
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APPENDIX
Description statistics of variables
Variable Mean Std. Dev. Min Max
TR 53851.28 438306 0.1 8.36E+07
VA 10035.78 113472.4 1.91E-06 2.22E+07
Average capital 47060.41 397400.3 3.7 8.18E+07
Average labor 52.34561 259.5607 1 51252
PCI 60.41639 3.632215 45.12 73.53
Entry cost 7.724701 0.85014 5.07 9.6
Access to land 5.54878 1.026279 3.04 8.84
Transparency 6.130792 0.432685 2.76 7.63
Cost of time 6.204264 0.794746 3.51 8.9
Informal charges 5.540741 0.962696 2.81 8.94
Leadership dynamics 4.50201 1.067201 1.39 9.38
Firm support 6.325681 1.20685 1.75 8.75
Labor training 6.408786 0.934537 2.96 8.17
Legal institutions 5.083614 0.926508 2 7.99
Firm’s age 12.22553 4.804775 0 72
Financial leverage 0.520778 0.259388 0 1
Average income of
employees 65.06049 142.2269 0 45660.17
Dummy_SMEs 0.938436 0.240363 0 1
Source: Authors’ calculations