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<p>We conducted a survey of 488 businesses in Bac Giang, Lao Cai, and Thai Nguyen to evaluate how formal and informal institutional policies impact on innovation performance through open innovation. Using the PLS-SEM method, our results reveal that both formal and informal institutions influence innovation performance through both direct and indirect channels. Specifically, the stability of formal institutions and the effective management of informal institutions encourage businesses to adopt open innovation practices, thereby boosting their overall innovation performance. This study emphasizes the importance of a well-defined legal framework and effective collaboration in fostering business innovation. Based on these findings, we recommend fostering a culture of innovation and establishing a transparent business environment to build trust, encourage open innovation, and ultimately drive higher levels of corporate innovation performance.</p>

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Formal institution, informal institution and innovation performance: the case of Northern Mountains, Vietnam

  • 期刊论文

  • 发表日期：

    2025年7月15日

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  • Pham Thi Anh Nguyet,
  • Duong Thi Tinh

摘要

We conducted a survey of 488 businesses in Bac Giang, Lao Cai, and Thai Nguyen to evaluate how formal and informal institutional policies impact on innovation performance through open innovation. Using the PLS-SEM method, our results reveal that both formal and informal institutions influence innovation performance through both direct and indirect channels. Specifically, the stability of formal institutions and the effective management of informal institutions encourage businesses to adopt open innovation practices, thereby boosting their overall innovation performance. This study emphasizes the importance of a well-defined legal framework and effective collaboration in fostering business innovation. Based on these findings, we recommend fostering a culture of innovation and establishing a transparent business environment to build trust, encourage open innovation, and ultimately drive higher levels of corporate innovation performance.