Impacts of geographical locations and sociocultural traits on the Vietnamese entrepreneurship

Abstract

This paper presents new results obtained from investigating the data from a 2015 Vietnamese entrepreneurs’ survey, containing 3071 observations. Evidence from the estimations using multinomial logits was found to support relationships between several sociocultural factors and entrepreneurship-related performance or traits. Specifically, those relationships include: (a) Active participation in entrepreneurs’ social networks and reported value of creativity; (b) CSR-willingness and reported entrepreneurs’ perseverance; (c) Transforming of sociocultural values and entrepreneurs’ decisiveness; and, (d) Lessons learned from others’ failures and perceived chance of success. Using geographical locations as the control variate, evaluations of the baseline-category logits models indicate their varying effects on the outcomes when combined with the sociocultural factors that are found to be statistically significant. Empirical probabilities that give further detail about behavioral patterns are provided; and toward the end, the paper offers some conclusions with some striking insights and useful explanations on the Vietnamese entrepreneurship processes.