Application of Exploratory Factor Analysis To Assessing The Impact of Local Support Factors on The Sustainable Development of Small and Medium-Sized Industrial Enterprises In Vietnam
Sustainable development (SD) of enterprises in recent years has always been of special interest to domestic and foreign researchers, including small and medium-sized enterprises (SMEs). The study conducted a survey of 155 SMEs in three regions of the North, Central and South of Vietnam with the main survey subjects being managers in enterprises. The main purpose of the study is to assess the impact of local support policies compared to other factors developed in the research model affecting the sustainable development of small and medium-sized industrial enterprises (industrial SMEs) in Vietnam. The observations that the research team developed and included in the scale of the local support policy variable are: production premises; local social activities; administrative procedures; support from the SME association; supporting environmental policies and supporting credit activities for businesses. In this research, the authors employed exploratory factor analysis to identify 4 factors affecting the sustainable development of industrial SMEs. The research results show that support policies from localities have an important role and more strongly influence human resource factors and social responsibility (SR) policies of enterprises in their sustainable development for industrial SMEs in Vietnam.