Nam”. This is a necessary research topic for the context of Vietnam’s economy.
RESEARCH INTRODUCTION
I. Necessity of the research Research results will be the whole picture of the process to Entrepreneurial success of women entrepreneurs in Viet Nam. II. Research objectives, questions and tasks of the thesis 1. Research objectives The specific research objectives are: - To specify factors affecting Entrepreneurial success of women entrepreneurs in Viet Nam. - To specify impact level and impact direction of factors on Entrepreneurial success of women entrepreneurs in Viet Nam. - To specify the difference in Entrepreneurial success of women entrepreneurs Nowadays, women entrepreneurs are having an increasingly important role in creating, operating and developing business. Enterprises owned by women entrepreneurs tend to increase in the world (Davidson and Burke, 2004). Women entrepreneurs act as a basic driving force of economic growth. The number of women entrepreneurs tend to be relatively higher in developing countries. According to a report of GEM in 2005 "the ratio of women entrepreneurs in the early stage of entrepreneurship in middle-income countries is almost twice as high as in high-income countries” For example, research on Entrepreneurship of women entrepreneurs in Latin America and Caribbean, showed that the ratio of women entrepreneurs is very high in poorest countries in the area – up to 35% in Peru (Beatrice, 2012). according to the characteristics of entrepreneurs and business characteristics. - Propose recommendations to state management agencies, in developing
Viet Nam now has 95.906 enterprises that are operated and managed by women entrepreneurs, accounting for about 21% of total operating enterprises. The majority of them are SMEs. The percentage of large enterprises of women entrepreneurs only accounts for 1%, equivalent to 854 enterprises (General Statistical Office 2014).
Entrepreneurship of women entrepreneurs in order to create a premise for the country economics’ growth and development. The thesis also proposes recommendations to women entrepreneurs in equipping resources for themselves to achieve success in entrepreneurial process. 2. Research questions Enterprises of Vietnamese women entrepreneurs increasingly play an important role and contribute significantly to the development of the economy in creating jobs, using local resources to create momentum for growth. In order to achieve the research objectives, the thesis must answer the following the author realized Through research overview, that research questions: Question 1: What are factors affecting Entrepreneurial success of women entrepreneurs in Viet Nam? Question 2: How is the impact direction and level of factors affecting the concepts of Entrepreneurial success change with research context depending on the reason for entrepreneurial decisions of entrepreneurs. Measures to determine Entrepreneurial success are also not consistent between different researches on entrepreneurs, enterprise size and research context. Research results on Entrepreneurial success of women entrepreneurs in developed countries cannot explain for Entrepreneurial Entrepreneurial success of women entrepreneurs in Viet Nam?
Question 3: Is there any difference in Entrepreneurial success between women entrepreneurs’ groups according to the characteristics entrepreneurs and business success of women entrepreneurs in developing countries and transition countries. Theories applied to analysis in Entrepreneurial success research also have differences in different research results to different research context. characteristics? 3. Research tasks Through overview of researches on Entrepreneurial success of women entrepreneurs in Viet Nam, the author realized that there are some researches on To achieve the research objectives and answer the research questions set out above, the thesis must solve the following basic tasks: - Overview of research situation in our country and around the world about
factors affecting entrepreneurial success of entrepreneurs in general and women entrepreneurs in particular. Previous research along with qualitative research entrepreneurship with women entrepreneurs as research objects. However, researches have chosen narrow geographical research scope, mainly qualitative research. To get to know more about women entrepreneurs in Viet Nam and factors affecting Entrepreneurial success of women entrepreneurs, the author has chosen the research topic “Factors affecting Entrepreneurial success of women entrepreneurs in Viet
conducted in Viet Nam will be the basis to build official research model. the theory of entrepreneurial environment, the thesis has proposed adding factors - Investigate, collect, analyze evaluations and judgments of women entrepreneurs affecting Entrepreneurial success, including Continued Access to finance and Organizational structure. Details are as follows: in Viet Nam about factors affecting entrepreneurial success. - Test the research model on factors affecting Entrepreneurial success of women entrepreneurs in Viet Nam. - For the Factor of Access to Finance, the previous studies only confirm that women entrepreneurs are hindered by access to financial capital from commercial banks, not yet confirm the direction and importance of the Factor of Access to Finance - Propose recommendations in policy to state management agencies to create
favorable entrepreneurial environment. At the same time propose recommendations to entrepreneurs in preparing necessary resources for successful entrepreneurial process. to the entrepreneurial success of women entrepreneurs. The thesis has affirmed that easy access to finance plays an important role in the entrepreneurial success of women entrepreneurs. III. Scope and subjects of the research 1. Research subjects - The organizational structure factor is identified to be related to entrepreneurial success but has not been studied for women entrepreneurs. The thesis has affirmed the (1) Theoretical basis about Entrepreneurial success of entrepreneurs; (2)
impact of organizational structure on the entrepreneurial success of women entrepreneurs.
Researches on Entrepreneurial success of entrepreneurs and women entrepreneurs around the world and Viet Nam; (3) Factors affecting Entrepreneurial success of women entrepreneurs in Viet Nam. 2. Research scope - About the research contents: - The thesis has finalized the Entrepreneurial orientation element of the model with the entrepreneurial orientation factor with three aspects: innovation orientation, proactive orientation and adventure orientation. The results of this thesis has confirmed the role of entrepreneurial orientation and entrepreneurial orientation factor Resource factors of entrepreneurs such as human capital, financial capital, social is divided into three independent factors, namely (1) Innovation orientation; (2) Proactive orientation and (3) Risk orientation.
New findings and proposals concluded from the research results of the thesis
capital. Resource factors of enterprises such as entrepreneurial orientation, organizational structure; Resource factors from entrepreneurial environment such as access to financial capital. The thesis also researches individual characteristics factors of entrepreneurs such From the research results, the thesis has identified new points compared to the previous studies as follows: as Age, family background, marital status, education level and business characteristics such as business areas, area of activity. - The thesis has identified the factors affecting the entrepreneurial success of - About the research objects: women entrepreneurs in Viet Nam. - About the research period: Ssecondary data was collected mainly in the period of 2010-2017. Primary data was collected in the period of 2017-2018. women entrepreneurs in Vietnam, and also indicated the direction and impact of each factor. The thesis has emphasized the financial capital and human capital of women entrepreneurs as the most important role. IV. Overview of research method - General analysis method - The results of the thesis have confirmed the factor of the Networking capability does not have a direct impact on the entrepreneurial success of women entrepreneurs in Vietnam. This result is different from the qualitative research results on the impact - Research at the table method of Networking capability on the entrepreneurial of women entrepreneurs. - Qualitative research method - The thesis has proposed proposals for women entrepreneurs to apply in the - Quantitative research method V. New contributions of the thesis Theoretical contributions process of entrepreneurial. At the same time, the thesis has also proposed some macro recommendations in creating a favorable entrepreneurial environment for the development of the women entrepreneurs. Based on the theory of basic resources combined with the theory of social capital,
- Further research directions can improve the model by adding other factors
CHAPTER 1. OVERVIEW OF RESEARCH ON ENTREPRENEURIAL SUCCESS OF WOMEN ENTREPRENEURS
1.1. Entrepreneurship of entrepreneurs impact from Networking capability indirect the 1.1.1. Entrepreneurship and entrepreneurs affecting the entrepreneurial success of women entrepreneurs in different business sectors, different geographical areas, and impacts of different entrepreneurial environments; highlight to entrepreneurial success through the impact on success factors. - Entrepreneurship is defined as an VI. Layout of the thesis innovative activity of humans. Entrepreneurship starts by finding resources and personal financial means to start up and Chapter 1. Overview of research on Entrepreneurial success of women entrepreneurs Chapter 2. Theoretical bases and the research model of factors affecting Entrepreneurial success of women entrepreneurs in Viet Nam operate a new business. Entrepreneurship is an innovative process that requires identifying and capturing business opportunities, organizing existing resources to transform those opportunities into products or services and market them. Over time, effort and finance, entrepreneurship increases the value, personal skills and benefits of society. Chapter 3. Research method Chapter 4. Research results
- Entrepreneurs are people who recognize opportunities, be creative and have practical skills to turn opportunities into business activities through establishing new successful businesses. Entrepreneurs have some characteristics: entrepreneurs are risk Chapter 5. Conclusion and recommendations
takers; entrepreneurs are creators; entrepreneurs are people with high achievement needs; entrepreneurs are individuals that make the difference and entrepreneurs are individuals connected together in a network. 1.1.2. Research directions about entrepreneurship of entrepreneurs
- Researches on entrepreneurs’ intention for entrepreneurship
- Researches on entrepreneurs’ entrepreneurial decisions
- Researches on Entrepreneurial success of entrepreneurs
Through learning documents about Entrepreneurial success, the author realized that there is not yet a common and consistent model used to research Entrepreneurial success of entrepreneurs. Moreover, many researches also focus on explaining factors affecting entrepreneurs’ entrepreneurial success also confirmed different results from
different entrepreneurs operating in different research context. This is the research gap on context to continue researching on Entrepreneurial success in different countries, different entrepreneurs.
1.2. Overview of research on Entrepreneurial success of entrepreneurs
1.2.1. Entrepreneurial success of entrepreneurs
- Entrepreneurial success is when entrepreneurs establish and maintain successful operations of a new enterprise; achieve their goal in business results and personal satisfaction. It means that Entrepreneurial success of entrepreneurs is considered in
two aspects: achieving the business results such as maintaining the operation of the - Entrepreneurial environment theory: Entrepreneurial environment includes institutions, government existing resources, universities and nearby research intervention and people's attitudes toward entrepreneurial activities. enterprise and achieving growth in profits, market share, customers, the number of employees ... and achieving personal satisfaction such as freedom and independence, autonomy, flexibility ... Each theory will explain some factors affecting entrepreneurs’ entrepreneurial
success. Explanation of the factors affecting entrepreneurial success from the research theories also encountered many disagreements about the research results in different research contexts and subjects. Research results in this research subject and context is not applicable for another research subject and context. - Method to measure Entrepreneurial success by the maintaining operation time of the enterprise: measure by the number of years of business existence. Indicators of maintaining operation time are often unstable, need to be measured by indicators of the enterprises' performance 1.3. Overview of research on Entrepreneurial success of women entrepreneurs - Method to measure Entrepreneurial success by performance of the enterprises 1.3.1. Entrepreneurship of women entrepreneurs Performance used in assessing the success of enterprises is usually different in researches on Entrepreneurial success. Performance can be defined as the ability of - Women entrepreneurs: Women who start business are called women
enterprises to create business results to achieve objectives. There are two measures to determine performance, they are measure of using financial - non-financial indicators or objective - subjective performance measure. Measure of using financial - non- financial indicators determines financial indicators related to the return on investment, entrepreneurs when they perform entrepreneurship, which means they establish and operates a new enterprise. Basically, these activities are related identify opportunities, mobilize resources to develop a new enterprise, continue activities to create growth and successful development of these enterprises.
indicators
- Reasons for Entrepreneurship of women entrepreneurs: A model by Orhan and Scott (2001) explained reasons for Entrepreneurship of women entrepreneurs are originated from from "push" and "pull" factors. According to this theory, the impact revenue growth, consistency of profits or personal income of entrepreneurs; and non- include marketing, production, research and development financial measures of enterprises. Objective performance will measure objective results related to financial and non-financial measurements. Subjective performance through personal success is measured by entrepreneurs' satisfaction or comparison with competitors. 1.2.2. Research theories on Entrepreneurial success of entrepreneurs from environmental circumstances and individual awareness creates factors that motivate women to become entrepreneurs on both positive and negative sides. The reason to motivate Entrepreneurship of women entrepreneurs are different, leading to - Psychological theory: Specify the personal characteristics of women
the business objectives and success viewpoint of women entrepreneurs will be different in each research context. From that, it leads to the results of the impact of factors on Entrepreneurial success also will be different in different research context.
entrepreneurs. The most mentioned characteristics are high demand for achievement, high demand for power or internal control position and high demand for connectivity. Research on personality characteristics is criticized by low interpretation. These characteristics are often used to predict an individual becoming an entrepreneur rather than a predictor of Entrepreneurial success. - Difference in entrepreneurship between women entrepreneurs and man entrepreneurs: Analysis showed that there are differences between man entrepreneurs and women entrepreneurs in terms of entrepreneurial behaviors, financial capital, differences in social situations and differences in confidence. Therefore, enterprises of - Basic resource theory: Basic resource theory is related to human capital and financial capital for entrepreneurial process and success. Human capital is related to women entrepreneurs are SMEs in traditional business areas. Women entrepreneurs are limited in accessing to and building business network. education level, previous work experience… Financial capital is related to financial capability and level of financial capital mobilization for entrepreneurship. - Entrepreneurship of women entrepreneurs for SMEs: From analyzing characteristics in Entrepreneurship of women entrepreneurs, enterprises of women - Social capital theory: Social capital of entrepreneurs is defined as the value attached to their social network or the relationship with other entrepreneurs. Social entrepreneurs are usually Small enterprises operating in the traditional field. Because this scale and business areas is suitable for the capacity of women entrepreneurs, capital includes social network and the mobilized resources from that.
bringing time flexibility, helping women entrepreneurs to achieve balance between researches entrepreneurial orientation have not interested in women entrepreneurs. Organizational structure is recorded to be not researched on women entrepreneurs.
work and family responsibilities. Research scope of the thesis will focus on research on Entrepreneurial success of women entrepreneurs for SMEs because this type of business is specific to Entrepreneurship of women entrepreneurs.
Research results on the impact of factors on Entrepreneurial success are not consistent, are different in each different research context. Therefore, researching these factors affecting women entrepreneurs is still the gap for next researches. Especially research in the context of countries with transitioning and developing economies. 1.3.3 Research on Entrepreneurial success of women entrepreneurs in Viet Nam
Research results on Entrepreneurship of women entrepreneurs in Viet Nam - The role of entrepreneurship of women entrepreneurs in developing economics: They use mainly locally available materials and simple tools, machines and equipment that use less capital, they create jobs and participate in vocational training. On the social side, the creation of SMEs can create a balance between work and family responsibilities for women entrepreneurs, therefore, contribute to the family and improve social cohesion.
identify the factors driving entrepreneurial decisions, success factors, and factors that hinder business of Vietnamese women entrepreneurs. Researches mainly use qualitative research method. Limitation of researches in Viet Nam is the small sample,
- The role of women entrepreneurs to Vietnam’s economy: Women entrepreneurs in Viet Nam are playing an increasingly important role for socio-economic development in Viet Nam. The contribution of Vietnamese women entrepreneurs is creating jobs, using many female laborers, contributing to the state budget. factors affecting Entrepreneurial success of women mainly study women entrepreneurs in rural areas, where it is identified that the motivation for women entrepreneurs’ Entrepreneurial success are “push” factors derived from the need to force women entrepreneurs to participate in the business. These research results are not representative of women entrepreneurs in Viet Nam. 1.3.2. Researching entrepreneurs
- Characteristics factors of women entrepreneurs: include demographic
Next researches need to focus on objects in both urban and rural areas. Factors from these research results also need to be reevaluated through quantitative researches to ensure solid base. 1.3.4. Research gap on Entrepreneurial success of women entrepreneurs in the characteristics and personality characteristics. Researches on individual characteristics are more appropriate to explain how an individual become an entrepreneur than a successful entrepreneur. context of Vietnam’s economy
- Research context
Researchers on entrepreneurship often observe the effects of processes in different research contexts. With context changing from developed countries to developing countries, the concept of Entrepreneurial success of women entrepreneurs’ changes (Bamberger, 2008; Calas et al., 2009) depending on reasons for the decision of Entrepreneurship of women entrepreneurs.
- Resource factors of entrepreneurs include human capital and financial capital and social capital: Human capital has an important role in Entrepreneurial success of women entrepreneurs. However, in different research context, the conclusion of each Human capital factor’s impact on Entrepreneurial success is different. Financial capital of women entrepreneurs is mainly from individuals, families and friends. Access to finance to women entrepreneurs is a big trouble. Research on social capital to Entrepreneurial success of entrepreneurs has not reached consistency. Researches have not clearly confirmed the impact trend from social capital factors to Entrepreneurial success of women entrepreneurs. This is also the gap in research on women entrepreneurs in developing countries. Measures to identify Entrepreneurial success also have no consistency in previous researches. The inconsistency is shown in different entrepreneurs, business size and different research context. - Enterprise factors include entrepreneurial orientation and organizational structure.
Research on the impact of entrepreneurial orientation on Entrepreneurial success The theory of applied analysis on Entrepreneurial success of entrepreneurs also is determined to have no consistency in previous researches. Explanation of the factors affecting entrepreneurial success from the research theories also encountered many disagreements about the research results in different research contexts and subjects. in different enterprises will have different results. To SMEs, generally agree on a trend to have a positive impact on Entrepreneurial success of entrepreneurs. However, - The research model about Entrepreneurship of women entrepreneurs
CHAPTER 2. THEORETICAL BASES, THE RESEARCH MODEL AND HYPOTHESES OF FACTORS AFFECTING ENTREPRENEURIAL SUCCESS OF WOMEN ENTREPRENEURS IN VIET NAM
2.1. Theoretical bases about Entrepreneurial success of women entrepreneurs
2.1.1. Concepts and definitions of Entrepreneurial success of women entrepreneurs Some researches specify that the research model about Entrepreneurial success of women entrepreneurs is different from the research model about man entrepreneurs (Bird and Brush, 2002). The research model about Entrepreneurial success of women entrepreneurs have no consistency between previous researches. Previous researches mainly focus on explaining characteristics factors of entrepreneurs. These factors are suitable to explain how an individual become an entrepreneur than a successful entrepreneur. - The practical gap in the context of Vietnam’s economy - SMEs concept: In the research scope of the thesis, SMEs is identified by the author according to Decree 56/2009/ND-CP supporting the development of SMEs. From
- SMEs of women entrepreneurs: Vietnamese women entrepreneurs’ enterprises are women-owned enterprises and have been established and operated from 3 to 7
years. The thesis determined the time period from 3 to 7. This is the determined time for women entrepreneurs’ enterprises to successfully survive in entrepreneurship period.
- Defining Entrepreneurial success of women entrepreneurs to SMEs: The
method of determining Entrepreneurial success of women entrepreneurs is determined to be a newly established enterprise in operations and achieve the performance goals of SMEs. The performance of SMEs is determined by financial and non-financial researches on Entrepreneurship and Entrepreneurial success of Vietnamese women entrepreneurs mainly focusing on small enterprises in rural areas of Viet Nam. The assumptions about the reason of Entrepreneurship of women entrepreneurs are quite similar from their desire for income and satisfaction - personal freedom. Participation in entrepreneurial social networks helps women entrepreneurs become more effective. In addition, studies also identify the support from knowledge training or financial support to help women entrepreneurs develop their business activities. However, Vietnamese women entrepreneurs face obstacles such as access to support programs from the government and training organizations, capital and opportunities to connect with business networks. Women entrepreneurs also face competitive pressure, unreliable employees.
indicators, focusing on basic growth indicators such as market share, sales, profits, customers, and employees. - Research theory about Entrepreneurial success of women entrepreneurs: Research objective is to focus on researching resource factors of women entrepreneurs
Researches on women entrepreneurs in Viet are incomplete, not representative of Vietnamese women entrepreneurs because they focus on researching mainly in rural areas. Research results are determined through qualitative research method. The above research results need to be verified by quantitative method in next researches. Therefore, research on Entrepreneurial success of Vietnamese women entrepreneurs still has the practical gap and comprehensive research is needed. Therefore, the thesis focuses on Entrepreneurial success of Vietnamese women entrepreneurs.
and enterprises to Entrepreneurial success of women entrepreneurs in Viet Nam. Therefore, the main research theory of the thesis is basic resource theory, combined with other research theories such as social capital theory, the theory of entrepreneurial environment to identify a set of factors affecting Entrepreneurial success of women entrepreneurs in Viet Nam.
Basic resource theory and entrepreneurial environment theory identified the factor Human capital, Financial capital and Access to finance. Basic resource theory
and social capital theory identified the factor Networking capability. Basic resource theory identify the resources of enterprises created by women entrepreneurs such as Entrepreneurial orientation and Organizational structure. These factors will be analyzed in more detail in the later sections of the thesis.
- The research model on Entrepreneurial success of women entrepreneurs: The author used a model by Bosma to be the base for building a model about
H4 Entrepreneurial success of women entrepreneurs in Viet Nam in SMEs, choosing two factor groups belonging to entrepreneurs and enterprises in the research on of women entrepreneurs in Viet Nam Networking capability has a positive effect with Entrepreneurial success of women entrepreneurs in Viet Nam H5
H6 Entrepreneurial success of women entrepreneurs. Because the model by Bosma is suitable for the objectives of the thesis. However, based on research overview, the author will choose suitable research factors for present research context in Viet Nam. Entrepreneurial orientation has a positive effect with Entrepreneurial success of women entrepreneurs in Viet Nam Organizational structure has a positive effect with Entrepreneurial success of women entrepreneurs in Viet Nam
2.2. Propose the research model and research hypotheses on factors affecting Entrepreneurial success of women entrepreneurs in Viet Nam
2.2.1. Research model
Human capital
Financial capital
Entrepreneurial success
Access to finance
Networking capability
Entrepreneurial orientation
Control variables - Age - Family background - Marital status - Education level - Field of activity - Area of activity
Organizational structure
Figure 2.2. Research model of the thesis
(Source: The author’s recommendation)
2.2.2. Hypotheses
Table 2.2. Consolidation table of research hypotheses
Contents Hypothesis H1
H2
H3 Human capital has a positive effect with Entrepreneurial success of women entrepreneurs in Viet Nam Financial capital has a positive effect with Entrepreneurial success of women entrepreneurs in Viet Nam Easy access to finance has a positive effect with Entrepreneurial success
CHAPTER 3. RESEARCH METHOD
years) based on the Ministry of Planning and Investment's documents, then checked
3.1. Research design
3.1.1. Research method
Research process has three steps which are qualitative research, preliminary quantitative research and official quantitative research. Table 3.1. Research method operation status of these enterprises at local tax authorities. Areas with the number of people interviewed are: Hanoi 200 women entrepreneurs, Ho Chi Minh City 200, Hai Phong 100, Nam Dinh 30, Bac Ninh 20, Hung Yen 20, Hai Duong 30, Vinh Phuc 20, Hoa Binh 20, Da Nang 100, Can Tho 30, Binh Duong 30. To achieve a high success rate in collecting data, the author used relationships such as friends and relatives to directly distribute questionnaires. Some questionnaires will be distributed email for places without direct survey assistance. Step Method Technique Time 3.1.4 The scale of research variables 1 Qualitative research In-depth interview 3.1.4.1. Dependent variable – Entrepreneurial success or performance 02 months (October and December 2017) The scale of Entrepreneurial success includes 05 observed variables built from Preliminary Collect data via 02 months (January and 2 quantitative research questionnaire February 2018
reference of the research by Calontone et al., (2002), Keskin (2006); Lin et al. (2008), Suliynato and Rahab (2012). The author has adjusted these scales to be suitable with the research topic. 3 Official quantitative research Collect data via questionnaire 05 months (March to July 2018) 3.1.4.2 Independent variables – Factors affecting Entrepreneurial success
(1) Human capital 3.1.2 Process of building the questionnaire
- Define the theoretical concept of the variables and measurement of the variables in theoretical model based on previous research. The scale of human capital includes 04 observed variables built from reference of the research by Huang (2014). The author has adjusted these scales to be suitable with the research topic. - Build Vietnamese version of the questionnaire by translating the scales from English to Vietnamese. (2) Financial capital - Translate Vietnamese version back to English to compare and amend the Vietnamese version. The scale of financial capital includes 04 observed variables built from reference of the research by Winborg & Landstrom (2000), Chen et al. (2009). The author has adjusted these scales to be suitable with the research topic. (3) Access to finance - Vietnamese questionnaire was given to 10 subjects in which 10 are women entrepreneurs, 02 are experts in the field of research about Entrepreneurial success to assess, comment to ensure that there is no misunderstanding in words and contents of
The scale of access to finance includes 10 observed variables built from reference of the research by Claessens (2006); Beck et al. (2008), Ardic et al. (2011). The author questions. The results are used to adjust sentences, ideas in the questionnaire to be more clear and correct. has adjusted these scales to be suitable with the research. 3.1.3. Research sample
- Overall research sample: Overall research sample of the thesis are Vietnamese (4) Networking capability women entrepreneurs but limited to SMEs.
- Choosing research sample: Research samples are 230 or more observations. The author built an initial sample of 800 observations. The author made a list of operating SMEs of women entrepreneurs (women-owned SMEs operating from 3 to 7 The scale of Networking capability includes 07 observed variables built from reference of the research by Ostgaard and Birley (1994) Baron and Markman (2000), Lee et al. (2001), and Chen et al. (2009). The author has adjusted these scales to be suitable with the research.
(5) Entrepreneurial orientation (or Entrepreneurial strategy) research.
3.2.3. Qualitative research results * Research variables The scale of entrepreneurial orientation includes 09 observed variables built from reference of the research by Covin and Slevin (1988). The author has adjusted these scales to be suitable with the research topic. (6) Organizational structure Through qualitative research, independent variables have been screened and tested in its relationship with the dependent variable, independent variables are kept and continued to be studied. * Variables scale The scale of organizational structure includes 08 observed variables built from reference of the research by Covin and Slevin (1988). The author has adjusted these scales to be suitable with the research.
3.2. Qualitative research Through qualitative research, some observed variables of the scale Access to finance and networking capability have similar meanings to other observed variables. With observed variables that have a similar meaning to other observed variables, the 3.2.1. In-depth interview objectives
The objectives of in-depth interview are to test and screen independent variables
author will consider, and do preliminary quantitative research before removing from the scale. If in preliminary quantitative research they do not guarantee reliability, the author will remove observed variables from the scale.
3.2.4. Express and encode the scales and initially specify the relationship between independent variables and the dependent variable. The next step after in-depth interview is to test the rationality of the scale to see if it is suitable for Vietnamese conditions. 3.3. Quantitative research 3.2.2. In-depth interview method 3.3.1. Preliminary quantitative research 3.2.2.1. In-depth interview subjects 3.3.1.1. Preliminary research objectives and methods In-depth interview subjects are:
- Preliminary research objectives: Preliminary research are to assess the
- 10 women entrepreneurs in SMEs in Ha Noi area selected by non-probability reliability of the scale and eliminate inappropriate observed variables. method.
- 02 Reputable experts in the field of research and training about Entrepreneurial success.
3.2.2.2. Data collection and processing - Methods of preliminary quantitative research implementation: Trial survey was done on 100 survey subjects selected by random sampling method. Preliminary research results will be used as a data to assess the reliability of observed variables of the factors affecting Entrepreneurial success of women entrepreneurs. Based on qualitative research objectives, the author designed a discussion layout 3.3.1.2. Preliminary quantitative research results including many open questions related to the research model and scales.
Interviews are conducted at home or in the enterprises of the interview subjects. Each interview lasts for an average time of 45 minutes for all questions in the questionnaire. The technique is observed and direct discussed. Of the 100 questionnaires collected, 84 were usable, reaching 84%. The remaining 16 questionnaires are unusable due to lack of information. Preliminary assessment results of scales have Cronbach's alpha coefficient greater than 0.6, which means there is reliability and are used in official quantitative research.
The observed variables of the scale Access to Finance such as AF3, AF4, and AF5 have a correlation variable of components - the total variable is less than 0.3. The The contents of the interviews are recorded, stored and encrypted in computers. This content is removed and analyzed to draw conclusions. The conclusion is based on a general opinion of the interviewees with similar views. The results found will be compared with the original theoretical model to determine the official model for the scale Networking Capability with observed variable CN6 has a correlation variable of components - the total variable is less than 0.3. Therefore, this observed variable does
not guarantee the reliability of the scale. In qualitative research, this observed variable with components of the structure model to find meaningful differences of some specific groups. also overlaps with other observed variables. So the author removes this observation variable from the scale. 3.3.2.3. Questionnaire statistics
The scale Access to Finance was verified for reliability after the removal of AF3, AF4 and AF5 variables and the scale Networking Capability was tested again for reliability after the CN6 variable was removed. The testing results show that the Cronbach Alpha coefficient of the scale is increased compared to the scale before eliminating variables. Thus, after preliminary testing, all scales of the model have The author has implemented the data collection process through questionnaire following the method described in the previous section. The result from collecting the questionnaire is shown in the table 3.16. In total distribution of 800 copies, the author collected 425 copies accounting for 53,1%. Of total 425 collected questionnaires, after testing, the author has removed 61 copies that cannot be used, the rest of 364 copies are put to process (accounting for 85.6%). 3.3.2.4 Descriptive statistics of research sample by control variables Cronbach Alpha coefficient greater than 0.7 and the correlation coefficients of variables are greater than 0.3. It can be concluded that the selected scale is sufficiently reliable.
3.3.2. Official quantitative research
3.3.2.1. Official research objectives
- Testing the value of the scale by exploratory factor analysis EFA.
- The reliability of the scale is assessed through Cronbach Alpha's coefficient.
- Multiple regression analysis to test research hypotheses and assess the impact of independent variables on the dependent variable.
- Testing group comparison by Anova and T test 3.3.2.2. Official research method
After collecting questionnaire answers, the author started to screen questionnaire, clean the data, encode the necessary information in the questionnaire, input data and analyze data by SPSS software version 22. Next, the data that has been cleaned and input into the software will be analyzed according to the following steps: (1) Descriptive statistics of collected data by comparing frequencies between different groups by control variables (2) Testing the value of the scale by exploratory factor analysis EFA (3) Assess the reliability of the scale (4) Analysis of multiple regression models The multiple regression equation for the original proposed research is as follows:
ES = β0 + β1*HC + β2*FC + β3*AF + β4*CN + β5*EO + β6*OS + (cid:1)
(5) Implement group comparison by Anova and T test between different groups
CHAPTER 4. RESEARCH RESULTS meet the requirements and can be used in subsequent analysis. 4.1. Scale assessment 4.1.4 Quality testing of scales for constituent factors
4.1.1 Descriptive statistics of independent variable and testing the distribution format of the scales the independent variable
Evaluation results of scale value through exploratory factor analysis EFA show that the factors in previous model are kept. However, EFA results also show that previous factor called Entrepreneurial orientation actually contains three separate components corresponding to three factors: Innovative orientation, Proactive orientation and Risk-oriented orientation. On this basis, the research model is adjusted as follows: The statistical results describing the independent variables show that the responses to the statements of the scale of independent variables are quite diverse. The Minimum and Maximum values of the scale are from 1 to 5, indicating that there is no limit on the fluctuations for the scales used.
Human capital
The average value of the observed variables has a rather large difference (2.67 - 4.05) proving that there is a different evaluation of the importance of the independent variables.
Financial capital
4.1.2 Descriptive statistics of the dependent variable
Access to finance
Statistical results with min, max value of each observed variable in the above table show that there is a great difference between women entrepreneurs’ assessments to statements in the scale. The average value of observed variables in
Entrepreneurial success
Networking capability
Organizational structure
the scale of Entrepreneurial success is even (mean = 3,45; 3,54; 3,65; 3,43; 3,46). Therefore, Entrepreneurial success of women entrepreneurs is higher than average. 4.1.3 Testing value of the scales
Results show that KMO = 0.704 satisfies the conditions KMO > 0,5 (Kaiser, 1974). Therefore, it can be concluded that factor analysis is consistent with the
Innovative orientation
Proactive orientation
existing data. Similarly, test result Barlett showed that p = 0.000 < 5%, which means that the variables have relationship with each other and are eligible for factor analysis by EFA testing.
Exploratory factor analysis EFA: The factors Human capital, Financial capital,
Control variables - Age - Family background - Marital status - Education level - Field of activity - Area of activity
Risk-oriented orientation
Access to finance, Networking capability and Organizational structure all have observed variables loading an independent factor whose Factor loading value meets the requirements (> 0.3). The factor Entrepreneurial orientation is divided into three
Figure 4.1. Adjusted research model
Whereby hypotheses are adjusted as follows:
Table 4.5. Hypotheses small factors due to the transmission of observed variables into three groups, Factor loading value meets the requirements (>0.3). Three factors are respectively named Innovative orientation (EOI) including scales from EO1 – EO3 measuring innovation in enterprises, Proactive orientation (EOP) including scales from EO4-EO6 measuring Contents Hypothesis
business initiatives and Risk-oriented orientation (EOR) including scales from EO7- EO9 measuring business risks. All the scales selected for the variables in the model
H1
Testing the suitability of the model: value F = 20,227, value sig = 0,000. Human capital has a positive effect with Entrepreneurial success of women entrepreneurs in Viet Nam.
H2
Financial capital has a positive effect with Entrepreneurial success of women entrepreneurs in Viet Nam. Therefore, this relationship guarantees reliability with the permissible level of 5%. For that reason, it can be concluded that control variables have an impact on Entrepreneurial success of women entrepreneurs, and multiple linear regression models is suitable with the data set and can be used.
H3
4.2.2.2 Regression analysis results of the second model Easy access to finance has a positive effect with Entrepreneurial success of women entrepreneurs in Viet Nam.
H4
The coefficient value R2 after adjusted of the second model is 0,406. This shows that the compatibility of the model with control variables is reasonable. So we can Networking capability has a positive effect with Entrepreneurial success of women entrepreneurs in Viet Nam.
H5
conclude, independent variables and control variables in the research model can explain 40,6% of the fluctuation of Entrepreneurial success of women entrepreneurs. Innovative orientation has a positive effect with Entrepreneurial success of women entrepreneurs in Viet Nam. Value F = 23,582 value sig = 0,000. Therefore, this relationship guarantees
H6
H7
Proactive orientation has a positive effect with Entrepreneurial success of women entrepreneurs in Viet Nam. Risk-oriented orientation has a positive effect with Entrepreneurial success of women entrepreneurs in Viet Nam. reliability with the permissible level of 5%. It can be concluded that independent variables and control variables have impact on Entrepreneurial success of women entrepreneurs and multiple linear regression model is suitable for the dataset and can be used. The VIF magnification coefficient is < 10. Therefore, it can be concluded that
H8
there is no multi-collinear phenomenon in the second model. Organizational structure has a positive effect with Entrepreneurial success of women entrepreneurs in Viet Nam.
Source: The author’s consolidation The impact level of some factors on Entrepreneurial success of women entrepreneurs is determined through standardized regression coefficient (Beta). Specifically, as follows: 4.2. Testing research hypotheses Table 4.7. Regression analysis results 4.2.1 Testing correlation coefficient Model 1 Beta 2 Beta After testing reliability and value of the scale, factors are put in the model test. Correlation coefficient value between independent variables and dependent variable
-0.083* -0.178* 0.267** 0.210*** -0.114* 0.118* 0.146** 0.124* are significant at 99%. Correlation coefficient between dependent variable (Entrepreneurial success) and other independent variables is relatively high. Therefore, we can originally conclude that these independent variables are suitable to put into explanation model for Entrepreneurial success of women entrepreneurs.
4.2.2 Testing hypothesis and regression analysis 4.2.2.1 Regression analysis results of the first model
Assess the suitability of the first multiple linear regression model: the coefficient value R2 after adjusted is 0,298. Therefore, the control variables Age, Family background, Marital status, Education level, Field of activity and Area of activity can explain 29.8% of the fluctuation of Entrepreneurial success of women entrepreneurs. Variables Control variables Age Intermediate, vocational, college University Area of activity Main independent variables Human capital Financial capital Access to financial capital Innovative orientation Proactive orientation Risk-oriented orientation Organizational structure 0.255*** 0.257*** 0.247** 0.201* 0.179** 0.174* 0.147*
CHAPTER 5: CONCLUSION AND RECOMMENDATIONS
5.1. Summary of research results 0.333 0.298 20.227*** 0.424 0.406 23.582*** 5.2. Research conclusion R2 Adjusted R2 F N= 364, *p ≤ 0.05; **p ≤ 0.01; ***p ≤ 0.001 All correlation coefficients have been standardized Research results showed that the factor Entrepreneurial orientation is divided The relationship between the dependent variable and independent variables is represented as a standardized regression equation as follows: ES = 0.255 HC + 0.257 FC + 0.247 AF + 0.201 EOI + 0.179 EOP + 0.174 EOR + into three independent factors (innovative orientation, proactive orientation and Risk-oriented orientation) therefore, the research model includes 8 factors. In these eight factors there are seven factors affecting Entrepreneurial success of women 0.147 OS Table 4.8. The importance of independent variables in the regression model
entrepreneurs in Viet Nam. There is a factor not affecting, which is the factor Networking capability. Among factors, Financial capital has the strongest impact on Entrepreneurial success of women entrepreneurs (Beta = 0.257) and Organizational structure has the weakest impact (0,174). The difference in impact
No.
Independent variables
Ratio (%)
Order of influence
Absolute value of the standardized regression coefficient Beta
1
Human capital
0.255
17.46
2
level between factors is not much. This showed that, factors in the research model are determined to be important factors bringing Entrepreneurial success to women entrepreneurs.
2
Financial capital
0.257
17.60
1
5.3. New contributions of the thesis
3
Access to finance
0.247
16.92
3
5.4. Some recommendations
4
Innovative orientation
0.201
13.77
4
5
Proactive orientation
0.179
12.26
5
5.4.1. Limitations of women entrepreneurs in Viet Nam
6
Risk-oriented orientation
0.174
11.92
6
5.4.2. Some policy recommendations to the Government
7
Organizational structure
0.147
10.07
7
Total
1.46
100
- Policy on training and fostering knowledge to develop human capital for women entrepreneurs 4.3. Testing the difference of control variables to Entrepreneurial success of women entrepreneurs in Viet Nam. - Having capital support policy for women entrepreneurs
- Provide information on resources, policies and markets and conduct trade the age group of above 50 will have more difficulty promotion. Regarding age, women entrepreneurs of the age group from 31 – 40 have in highest success, entrepreneurship than other age groups. Regarding family background, women - Enhance the role of women entrepreneur’s associations / women entrepreneurs’ clubs.
entrepreneurs who have relatives doing business will have higher chance of Entrepreneurial success than women entrepreneurs who do not have relatives doing business. Regarding marital status, married women entrepreneurs will have higher chance of Entrepreneurial success than unmarried women entrepreneurs. Regarding - In addition to the specific policies to support SMEs of women entrepreneurs, the government needs to synchronize economic policies and laws to create favorable business environment for enterprises to develop.
5.4.3. Some recommendations to women entrepreneurs education level, women entrepreneurs with higher education level will have higher chance of Entrepreneurial success. Regarding field of activity, women entrepreneurs in commercial business KD have higher Entrepreneurial success than others. And 5.5 Limitations of the research and suggestions for next research Limitations of the research regarding area of activity, urban women entrepreneurs are more successful than women entrepreneurs in rural areas.
- Theoretically, there are many models and many schools of research about impact on Entrepreneurial success of women entrepreneurs through factors such as
Entrepreneurial success of entrepreneurs. However, this thesis cannot research specifically on all models and schools. human capital, financial capital, entrepreneurial orientation or organizational structure.
- Observed variables of the independent variable Human capital in the scale of independent variables are simply determined. In fact, the independent variable Human capital is approached differently by many researchers and will define different scales.
- The thesis has only researched on the impact of 8 factors on Entrepreneurial success of women entrepreneurs. In fact, there are many other factors that can affect
Entrepreneurship of women entrepreneurs. Researches in the future should further study other factors to supplement and complete the research model.
- The scope of the research has only been conducted in some provinces and
cities which have active economic activities, and have not studied in places with difficult conditions in terms of economic, social and cultural conditions. The author has not research to compare the difference of the impact of 8 these factors between urban areas and rural areas. Basically these two groups have big differences on business conditions, business environment, access to resources and social prejudices.
- These research results are only correct to women entrepreneurs in SMEs and can be wrong to self-employment type or large enterprises. Suggestions for next research
- To completed this research, next researches can put in more of other factors to the research of impact on Entrepreneurial success of women entrepreneurs. For example, many documents refer to social prejudice as a major barrier to decisions on Entrepreneurship of women entrepreneurs but the author has not considered this impact on Entrepreneurial success of women entrepreneurs.
- Compare the difference of the impact of these influencing factors on Entrepreneurial success of women entrepreneurs in rural areas and urban areas, or between entrepreneurs in different business areas.
- From this research model, next researches can study the impact of these factors on Entrepreneurial success of women entrepreneurs under uncertain business environment conditions and review the impact of each factor.
- This research confirmed the factor Networking capability will not have direct impact on Entrepreneurial success of women entrepreneurs. Further research directions, can study the relationship between Networking capability will have indirect
