Knowledge sources as determinants of firm level innovation in vietnam: an empirical study

p between research institute, universities and enterprises. Collaborative relations between them are all forms of direct or indirect interaction, of a personal or organizational nature between universities and businesses in order to support each other for the benefit on both sides: Cooperation in research and development; Stimulate the dynamic movement of lecturers, students and professionals working in businesses; Commercialize research results; Construction training program; support creative and organizational governance efforts. The 109 cooperative relationship is understood as transactions between universities and production and business organizations for the benefit of both sides. Promoting this cooperation and exploiting its value can help the school solve financial difficulties, help businesses gain or maintain a competitive advantage in today's dynamic market. Moreover, this relationship also contributes to the nation's economic growth and meets the labor market's demands in this dynamic environment. Hence, the government could issue some policies to strengthen links between businesses and partners, especially universities in training human resources and cooperating technology innovation. Businesses need to be aware of the need to associate and coordinate with partners in product development. The role of research institutions and research universities need to be emphasized because this is a high concentration of scientific content. Firms should actively seek, contact these partners for agreement and cooperation; At the same time, building a good and long-term cooperative relationship between businesses and organizations. The coordination between the actors in the innovation system including universities and businesses play an important role, so it is necessary to have policies to promote cooperation between universities and firms together. Government levels play an intermediary role in connecting universities and businesses by regularly organizing technology fairs, conferences and seminars with the participation of universities and businesses to serve more effectively the demand for technology supply and demand. 6.2.2. Recommendation for firms From a practical perspective, it is useful to remind managers that investing in internal R&D might help them to increase the level of innovation in their firms. R&D is closely connected with the creation of new products and production technologies that have a direct effect on the nation's growth rate and the sustainable development of the business. The relation between internal R&D and innovative output has been proven in preceding research. It is well understood that firms that 110 spend in R&D broaden their scientific and/or technical knowledge ground, which grants them to construct and acquire new innovative products or services. This research has once again, confirmed this critical role of internal R&D. Firms need research and development activities and to find appropriate solutions to gain competitiveness and meet the practical requirements set out in the current integration and globalization environment. Hence, in every firm, they should have R&D department which is an indispensable part, they could be organized in hard form such as having technical department, technology department or R&D department or organized in the form of research projects and programs in the enterprise in collaboration with research institutes, technical universities, etc. No matter what form is organized, the number of people working in the R&D department of each firm is always the most skilled engineers and technicians so they could create something new or improved. R&D is closely connected with the creation of new products and production technologies that have a direct effect on the nation's growth rate and the sustainable development of the business. The sources of investment for R&D are from the State, businesses and external funding. In developed countries, the average ratio of R&D investment from the state budget to the non-state sector is about 1: 4, while in Vietnam, this ratio is estimated at 5: 1, meaning that R&D activities in Vietnam are still mainly invested by the state (Nguyen Thi Bich Lien & Nguyen Thanh Huong, 2017). Regarding the critical role of R&D, firms in Vietnam should also consider raising the organizational fund for these activities if they want to have fruitful outcomes. Moreover, collaborating with partners is also useful. The information prospective and innovative motivation companies can achieve via their supply chain have been highlighted in various studies (Bierly and Daly, 2007, Hsieh et al., 2010, Liker and Choi, 2004) , but this study found that managers should be aware that only collaborating within the supply chain seems to bring fruitful results. In addition, firms 111 should increase their interaction with customers and put their efforts on the development of customized solutions to develop new products. Previous research reveal that the extremely valuable foundations of outside learning are customers (primarily ranking) and suppliers (second ranking). The significance of receiving the ‘voice of the customer’ (Griffen & Hauser, 1993) and of clients' input in the innovation advancement process has been established long time ago (Chesbrough, 2003, Fang et al., 2008). Learning from customers is also proven to enhance the speed of innovation. Listening to customers is the only way to help businesses ensure they can create a product or service that customers really want to buy. In today's tough competitive business world, companies can build a competitive edge as well as gain customers' trust, loyalty and support in the long run by developing their links between service products and customer feedback. Furthermore, firms could consider relocating to a region with higher numbers of other firms, as it is likely that they could increase their product innovation activities as a result. The reason behinds maybe because innovation is a knowledge-based activity for which external knowledge is valuable. It has been said that openness springs a firm access to external actors and sources that provide a firm with new knowledge (Laursen and Salter, 2006). This suggests that openness is only relevant if there is knowledge available to which a firm can open up. Roper, Vahter and Love (2013) have already studied whether spillovers of openness have a positive effect on innovative performance. Located in a region with various firms could enhance innovation spillers and the firms can take advantages from that. In the case of Vietnam, the government has operated some high-tech industrial zone such as Lang Hoa Lac hi-tech zone or Ho Chi Minh hi-tech zone. Those hi-tech zones and parks are mentioned in the master plan on development of hi-tech parks till 2020 and orientations to 2030 signed by Vice Prime Minister Vu Duc Dam in 2015 and have been emphasized as the places to attract and gather science and technology intellectual forces throughout the country, overseas Vietnamese intellectuals and foreign scientists in researching, creating and transferring technologies directly for 112 production and incubation. BBGV (2018) reported that in Vietnam, Industrial Parks and Export Processing Zones have performed a key role in attracting foreign investments and the growth of the country. Businesses in these zones gain from preferential administration policies concerning land lease and tax inducements. In the first six months of 2017, a 39 per cent year-on-year increase to 384.3 million USD was observed in Investment in industrial parks and export processing zones. Hence, Firms come to those hi-tech parks to be able to develop and collaborate each other for innovation outcome to boost Vietnam economy. Therefore, in Vietnam if firms looking for innovation could consider to relocated in those hi-tech zones. 6.3. Limitations of the research The open innovation literature suggests that over-search might have a negative effect on innovation (Bayona-Saez et al., 2017; Hung & Chou, 2013; Laursen & Salter, 2006). Indeed, although the author did not formally hypothesize about this possible effect, she was surprised to learn that even in a low-tech environment too much openness had a negative correlation with product innovation. This negative correlation of over-search might be related to the fact that the firms in the sample operate in environments where external knowledge availability is at a relatively low level. This means that the costs associated with finding more partners do not outweigh the benefits. Hence, especially in the context of developing countries, collaborating more intensely with partners could be more useful than finding additional partners. Several limitations to the study suggest avenues for future research. One of the possible future research topics is to analyze the effect of knowledge sources over a longer period. As the author could only access the data base from 2013 to 2017, the future study could be for 10 or even 15 years. Future research could also use panel data to examine the causal effects of different knowledge sources on innovation output. Another possible topic could be to analyze the impact of knowledge sources on state owned firms and compare these findings with private firms. What could be 113 the different between private enterprises and stated owned firms? That might not only the size but also other conditions such as the ability to access knowledge sources. Finally, this research data size finally come up with only 300 firms then the author could not access the subsets hence she also encourages large-scale studies to provide more detail on the nature of innovation, the various types of knowledge sources and increase the number of observations to be able to test with various subsets of populations (regions, age or size). LIST OF RESEARCH BY THE AUTHOR 1. Phung Minh Thu Thuy (2017), ‘The effects of internal, collaboration and regional knowledge sources on product innovation in Vietnamese firms’, Business & Management: Framing compliance and dynamics, 3rd November 2017, Hanoi. 2. Phung Minh Thu Thuy., Joris Knoben., Patrick Vermeulen & Tran Tho Dat (2018), ‘Made in Vietnam: Internal, collaborative, and regional knowledge sources and product innovation in Vietnamese firms’, European Journal of Innovation Management, Vol. 21 No. 4, pp. 581-600. 3. Phùng Minh Thu Thủy & Trần Thọ Đạt (2019), ‘Ảnh hưởng của các yếu tố nội sinh tới năng lực đổi mới sáng tạo của doanh nghiệp vừa và nhỏ ở Việt Nam’, Tạp chí Kinh tế Phát triển, số 269 tháng 11 năm 2019, tr.10-20. 4. Phung Minh Thu Thuy (2019), ‘The effects of internal and external innovation strategy on process innovation in Vietnamese Firms’, 2nd International Conference on Contemporary Issues in Economics: Management and Business, 26th, November 2019, Hanoi. 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