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UNIVERSITY OF ECONOMICS HO CHI MINH CITY VIETNAM ERASMUS UNIVERSITY ROTTERDAM INSTITUTE OF SOCIAL STUDIES THE NETHERLANDS VIETNAM – THE NETHERLANDS PROGRAMME FOR M.A IN DEVELOPMENT ECONOMICS OUTSOURCING AND TOTAL FACTOR PRODUCTIVITY: EVIDENCE FROM VIETNAMESE SMALL AND MEDIUM-SIZED ENTERPRISES BY PHAM THI HOA TIEN MASTER OF ARTS IN DEVELOPMENT ECONOMICS HO CHI MINH CITY, December 2017 TIEU LUAN MOI download : skknchat@gmail.com UNIVERSITY OF ECONOMICS HO CHI MINH CITY VIETNAM INSTITUTE OF SOCIAL STUDIES THE HAGUE THE NETHERLANDS VIETNAM - NETHERLANDS PROGRAMME FOR M.A IN DEVELOPMENT ECONOMICS OUTSOURCING AND TOTAL FACTOR PRODUCTIVITY: EVIDENCE FROM VIETNAMESE SMALL AND MEDIUM-SIZED ENTERPRISES A thesis submitted in partial fulfilment of the requirements for the degree of MASTER OF ARTS IN DEVELOPMENT ECONOMICS By PHAM THI HOA TIEN Academic Supervisor: PHAM THI BICH NGOC HO CHI MINH CITY, December 2017 TIEU LUAN MOI download : skknchat@gmail.com DECLARATION This is to certify that this thesis titled “Outsourcing and total factor productivity: evidence from Vietnamese Small and Medium-sized Enterprises”, which is submitted in fulfillment of the requirements for the degree of Master of Arts in Development Economics to the Vietnam Netherlands Program (VNP) The thesis constitutes only my original work and due supervision and acknowledgement have been made in the text to all material used Page i TIEU LUAN MOI download : skknchat@gmail.com ACKNOWLEDGEMENT First, I would like to thank my supervisor - Dr Pham Thi Bich Ngoc for her support, advice, and valuable guidance during the thesis process Secondly, I would like to thank Dr Truong Dang Thuy who also gave me useful advice for my thesis I also would like to extend my thanks to the Vietnam – Netherlands program, professors, staffs, and classmates, for their help, encouragement and incredible knowledge Finally, I would like to thank my family and friends, who always unconditionally supported me in not only the thesis writing but also my whole life Pham Thi Hoa Tien Ho Chi Minh City, December 2017 Page ii TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises (LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises ABBREVIATIONS SMEs : Small and Medium-sized Enterprises R&D : Research and Development GDP : Gross Domestic Product ROE : Return on equity OECD : Organization for Economic Co-operation and Development ILSSA : Labor Studies and Social Affairs MOLISA : Ministry of Labor, Invalids and Social Affairs SSE : Stockholm School of Economics GSO : General Statistic Office TFP : Total Factor Productivity TCT : Transaction Cost Theory RBV : Resource-Based View RDT : Resource Dependency Theory GMM : Generalized Method of Moment 2SLS : Two Stages Least Square CDM : Crépon, Duguet and Mairesse IV : Instrument Variables OP : Olley and Parker LP : Levinsohn Petrin OLS : Ordinary Least Square FE : Fixed Effects RE : Random Effects FEM : Fixed Effects Model REM : Random Effects Model Page iii TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises (LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises ABSTRACT This study aims to examine the impacts of outsourcing activities on firms total factor productivity of 4,549 Vietnamese enterprises by using a panel dataset of Small and Mediumsized Enterprises during the period from 2005 to 2013 It is supposed to contribute to existing empirical, literature by employing the complementarity and substitutability test to investigate the effect of outsourcing on firms’ total factor productivity The total factor productivity in this study is calculated based on Levinsohn Petrin method Furthermore, the Fixed Effects with Driscoll Kraay standard error model, which has the advantage of correcting the problem of autocorrelation and heteroskedasticity is applying to get the better result of outsourcing and firms’ total factor productivity relationship estimation The finding proves a significant positive nexus between outsourcing and firms’ total factor productivity and confirms that firms spend more on outsourcing will get higher total factor productivity index These results are supported by a majority of empirical papers about relationship of outsourcing and total factor productivity and outsourcing’s theories From the findings, this study will give some discussion as well as some policy recommendations for firms to enhance their productivity Key words: Vietnamese SMEs, Total factor productivity, Driscoll Kraay Page iv TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises (LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises TABLE OF CONTENT ACKNOWLEDGEMENT i ABSTRACT iv TABLE OF CONTENT v LIST OF TABLES viii LIST OF FIGURES ix CHAPTER INTRODUCTION 1.1 Research problems 1.2 Research objectives and questions 1.2.1 Research objectives 1.2.2 Research questions 1.3 Data and methodology 1.4 Thesis structure CHAPTER LITERATURE REVIEW 2.1 Outsourcing 2.1.1 Definition of outsourcing 2.1.2 Theoretical background for outsourcing 2.1.2.1 Transaction Cost theory 2.1.2.2 Resource dependency theory 2.1.2.3 Resource-based view theory 2.2 Total factor productivity 10 2.2.1 Definition 10 2.2.2 Measurement of total factor productivity 10 Page v TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises Lovallo, D P., & Mendonca, L T (2007) 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(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises (LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises Winkler, D (2010) Services offshoring and its impact on productivity and employment: Evidence from Germany, 1995–2006 The World Economy, 33(12), 1672-1701 Wu, M.-W., & Shen, C.-H (2013) Corporate social responsibility in the banking industry: Motives and financial performance Journal of Banking & Finance, 37(9), 3529-3547 Yuchtman, E., & Seashore, S E (1967) A system resource approach to organizational effectiveness American sociological review, 891-903 Page 51 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises (LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises APPENDIX APPENDIX 1: EMPERICAL STUDIES ON FIRM’S PRODUCTIVITY Productivity measurement Authors Period & Sample Methodology Cucculelli et al.(2014) Xth Capitali- Unicredit Italian firms database (2004 – 2006) Levinsohn and Petrin (2003) OLS De Kok et al (2006) Dutch manufacturing firms database (1994-1999) Huergo and Jaumandreu (2004) Spanish manufacturing firms database ( 1990 – 1998) Dhawan (2001) US COMPUSTAT data (19701989) Margaritis and Psillaki (2010) France firms database of Chemicals, Computers and Textiles industries ( 2002 -2005) OLS Ratio of debt and total asset Kim(2006) Korean manufacturing firms ( 1991 -1998) Pooled OLS TFP profitability (profit/total assets), asset structure (fixed tangible assets/total assets), growth opportunities (intangible assets/total assets), size firm age, capital stock, wages, international term, Keller and Yeaple (2009) COMPUSTAT data (1987 – 1996) Olley and Pakes OLS TFP FDI , international trade TFP Independent variable firm age, family-owned status and control variables (firm size, human capital, dummy firm in stock market, dummy sector, capital intensity and ownership status) firm age and control variable (firm size is log of total wage), dummy: organizational structure and dummy sectors in manufacturing industry) OLS Firm’s growth rate Semiparametric regression firm age , innovation, control variable (firm size , dummy sectors in manufacturing Productivity growth industry, dummy merge/acquisition , capacity utilization) OLS Ratio of output and labor capital and labor ratio, labor, capital Page 52 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises (LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises APPENDIX 2: EMPERICAL STUDIES ON RELATIONSHIP BETWEEN OUTSOURCING AND FIRM’S PRODUCTIVITY Authors Martin Falk (2012) Jan Mưhlmann Alberto López (2004) Peter et al (2003) Antonioli et al (2015) Lin, S., & Period and sample Methodol Outsourcing ogy measurement EUK-LEMS data OLS Imported material 1995-2000 and purchased services from abroad Eurostat data OLS Dummy for Statistics domestic Netherlands (CBS) outsourcing, international outsourcing Spanish manufacturing Firms ESEE (1990–1999) German dataset of the European Manufacturing Survey 2003 MSE and LSE database (1998–2001) OLS, GMM World Bank’s 2SLS Dummy subcontract, substop, substart Firm’s productivity measurement Result Quality adjust total factor productivity Outsourcing of material is not significant on TFP Positive relationship between purchased services on TFP Negative relationship between international core function outsourcing and TFP Positive relationship between domestic support function and TFP Labor productivity (output per unit labor) TFP This includes total output (Q), capital costs (K), Labor costs (L), energy costs (E), costs of materials (M) and costs of services (S) VAit Ait K it Lit Output: sale Outsourcing intensity has a positive effect on productivity Outsourcing is measured as the ratio of total input to total turnover Production inputs the firm’s outsourcing (OUT) Labor productivity : “value added (total turnover minus total inputs) per employee Outsourcing has a strong negative impact on a firm’s labor productivity Growth of (labor) productivity of firm i Material/ services Real output Outsourcing and productivity turns out positive only if considering the externalization of high valueadded activities It is negative in the case of low value-added activities Positive productivity gains from Page 53 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises (LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises Ma, A C (2012) Trade, Production and Protection database (1985– 2001) outsourcing material outsourcing Page 54 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises (LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises APPENDIX 3: TESTING RESULTS Model specification and diagnostic test: * Hausman testing hausman fe re hausman FEDout REDout Coefficients -| (b) (B) (b-B) sqrt(diag(V_b-V_B)) | FEDout REDout Difference S.E -+ D_outsourc~g | 016349 -.0066872 0230362 0059376 firm_age | 0015694 0003812 0011883 0002936 firm_size | 011458 0019834 0094746 0022002 capital_st~e | 0341882 0319271 0022611 0054208 D_inovation | 006221 0111153 -.0048943 0030827 b = consistent under Ho and Ha; obtained from xtreg B = inconsistent under Ha, efficient under Ho; obtained from xtreg Test: Ho: difference in coefficients not systematic chi2(5) = (b-B)'[(V_b-V_B)^(-1)](b-B) = 59.84 Prob>chi2 = 0.0000 * Autocorrelation test xtserial TFP D_outsourcing outsourcing_exp_intensity firm_age firm_size capital_structure D_inovation Wooldridge test for autocorrelation in panel data H0: no first-order autocorrelation F( 1, 2337) = Prob > F = 9.820 0.0017 P< 0.05 Reject Ho * Heterokedasticity test xttest3 Modified Wald test for groupwise heteroskedasticity in fixed effect regression model H0: sigma(i)^2 = sigma^2 for all i chi2 (584) = Prob>chi2 = 1.3e+34 0.0000 Page 55 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises (LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises(LUAN.van.THAC.si).outsoursing.and.total.factor.productivity.evidence.from.vietnamese.small.and.medium.sized.enterprises