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The role of banks in Viet Nam towards providing social venture capital for social entrepreneurship in Viet Nam: Facilitators and Limitations Limitations


Faculty of Business, Law and Social Sciences

Business School

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Student Name   Dai Hai Le Reasonable Adjustments  
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Course and Year   MSc Management scheme Level 7
Module Code   BUS7037
Module Title   Individual Dissertation – Proposal
Module Tutor Francis McGonigal
Personal Tutor  Cindy Millman


First Marker Name: Francis McGonigal First Marker Signature: Francis McGonigal


Date: 25/11/2016
Feedback: General comments on the quality of the work, its successes and where it could be improved
Good proposal.

Clearly define terms such as “Social Entrepreneur”.

State AIM and OBJECTIVES clearly (although these are covered in the Research questions).

Briefly summarize the Literature Review.

Briefly discuss ow you will ANALYZE the data after collecting it.

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Executive Summary

The importance of banks in providing social venture capital for social entrepreneurship is increasingly important. The role that social entrepreneurship plays in developing wider good for society needs to be established. However, research suggests that banks do not see social entrepreneurs as normal customers, and often unwilling to provide easy finance. This work proposes examining these limitations and possible solutions, using a mixed methods research.

Table of Contents

Executive Summary. 2

1       Background. 4

2       Literature Review.. 4

3       Research Questions. 5

4       Methodology. 6

4.1        Mixed methods approach. 6

4.2        Questionnaires. 6

4.2.1         Advantages and disadvantages of questionnaires. 6

4.3        In-depth interviews. 7

5       Project Plan. 7

References. 8


1      Background

The importance of banks in providing capital for social venture capital is instrumental in providing financial resources for the social entrepreneur (Cao et al., 2015, Choi and Majumdar, 2014, Dacin et al., 2011). The provision of capital for social entrepreneurship is often difficult as the level of return and the profitability are different as compared to normal enterprise, and therefore this can put on extra pressures on stakeholders (Dacin et al., 2010, Desa and Basu, 2013, Ellis, 2011). This work seeks to examine the factors which can have appositive influence on the relationship between banks and the social entrepreneur, in order to facilitate the social venture capital .

2      Literature Review

Social venture is increasingly important to consider, as the social entrepreneurship can lead to a positive change in the wider environment (Cao et al., 2015, Choi and Majumdar, 2014, Dacin et al., 2011). Research suggest that social entrepreneurship can be improved with the collaboration between the different organizational actors (Dacin et al., 2010, Desa and Basu, 2013, Ellis, 2011). The lack of confidence that bankers often have in social entrepreneur has been highlighted as one of the main factors which can continue to influence the financing of social venture capital (Choi and Majumdar, 2014, Dacin et al., 2011, Dacin et al., 2010). Banks often cannot examine the risks that they undertake as part of the social venture capital, and therefore it is difficult for the social entrepreneur to collect resources (Estrin et al., 2013, Felicio et al., 2013, Gedajlovic et al., 2013). One of the inhibiting factor is the lack of profitability which can be a major hindrance for the banks to provide the social entrepreneur with capital (Estrin et al., 2013, Felicio et al., 2013, Gedajlovic et al., 2013).

However, the literature highlights that the social entrepreneurs have many other ways of generating capital, and these can be used innovatively in order to ensure long term support for social entrepreneurs (Choi and Majumdar, 2014, Dacin et al., 2011, Dacin et al., 2010). The social entrepreneurs can ensure that venture capital firms are used in collaboration with banks in order to generate low cost financing (Griskevicius et al., 2012, Hall et al., 2012, Lepoutre et al., 2013). The use of innovative capital resources is also needed in order to have as positive impact on the wider community issues, leading to a long term support of the social entrepreneurship. The ability to deliver new changes is also an important issue for management, which leads to positive changes in the way that the new services can be improved (Ellis, 2011, Felicio et al., 2013).

The wider benefits that are facilitated due to the increase in social entrepreneurship needs to be facilitated in order to have a positive change in the way services are provided (Lumpkin et al., 2013, Maclean et al., 2013, Nga and Shamuganathan, 2010). The role of the government in providing these factors, and acting as a facilitator of low cost finance can also have significant positive change in the way finances are provided (Phillips et al., 2015, Ruebottom, 2013, Santos, 2012). This will be ensured in order to deliver a positive change, leading to different types of innovations (Griskevicius et al., 2012, Hall et al., 2012, Lepoutre et al., 2013). The role of the government is to ensure that the various types of services which can be understood, and can lead to a wider and positive change in the society (Choi and Majumdar, 2014, Dacin et al., 2011, Dacin et al., 2010). Companies must ensure that they have a better understanding of the wider benefits which social venture capital provides, and therefore examine not just profitability but also the benefits to members of the society (Shaw and de Bruin, 2013, Stam et al., 2014, Zahra et al., 2009).

The literature also highlights that governments and other stakeholders need to work collaboratively with social venture capitalists as well as banking institutions to bring reform for the social entrepreneurs (Choi and Majumdar, 2014, Dacin et al., 2011, Dacin et al., 2010). This is especially needed in order to facilities low cost finance, and to bring in wider benefits for the social sector which is needed for the financing of the social goods in the society (Ellis, 2011, Felicio et al., 2013). Society needs to evolve over a period of time, and the positive role that social entrepreneurs have in the society needs to be highlighted (Shaw and de Bruin, 2013, Stam et al., 2014, Zahra et al., 2009). The literature is widely not clear about the role which governments and other stakeholders can play in facilitating this process, especially in the case of Viet Nam. There is a need to understand these issues which can be undertaken in the most robust manner (Choi and Majumdar, 2014, Dacin et al., 2011, Dacin et al., 2010). The research also needs to understand the perspectives of the social entrepreneur, and the ways in which they are able to develop the sustainability of their operations in collaboration with other stakeholders .

3      Research Questions

The following research questions have been identified as part of this research:

  • What factors influence the banks to provide social venture capital to social entrepreneurs?
  • How can the relationship between social entrepreneurs and banks be improved to facilitate social entrepreneurship?
  • What should be the role of government in improving availability financing for social entrepreneurship in Viet Nam?


4      Methodology

4.1     Mixed methods approach

This research attempts to address the ways in which banks provide social venture capital for social entrepreneurs. In order to do so a mixed methods will be deployed by the researcher (John, 2008). Mixed methods technique is a technique where researcher deploys two or more research methods synonymously (Johnson et al., 2007, Sale et al., 2002), in order to investigate the issue at hand. This research will use both quantitative and qualitative methods. In-depth interviews will be used as part of qualitative research, whereas questionnaires will be used as part of quantitative methods (Lingard et al., 2008, Curry et al., 2009). The advantage of using mixed methods is that researcher can triangulate research results. This can be done by comparing the interview results with questionnaire results (Tashakkori and Creswell, 2007, Sharlene, 2010).

4.2     Questionnaires

Questionnaires are data gathering tools that allow the researcher to gain knowledge with help of a list of questions that is prepares by the researcher (John, 2008, Yang et al., 2008). These list of questions contain a list of answers, for the respondent to choose from. Questionnaires are of different type, depending on their open or close ended nature (Robson, 2011, Bennett and Elman, 2006). Close ended questionnaires are the ones that does not allow respondents to state their opinion and hence such questionnaires are criticized for their authenticity (Patton, 2002, Lingard et al., 2008). Open ended questionnaires allow researcher to give their opinion and hence can be considered more reliable and authentic. This research will use semi-structured questionnaires, which have both close and open ended questions, so that respondents view is taken into account (Denzin and Lincoln, 2005, Curry et al., 2009). This research will distribute a total of 100 questionnaires among the bank managers for gaining insight on the topic area.

4.2.1      Advantages and disadvantages of questionnaires

The data which is gathered with the help of questionnaires is very quick as compared to other methods. The number of audience that is covered with the help of questionnaires is huge in terms of sample size. (Jones et al., 2008) Data gathered with the help of questionnaires is considered to be much logical (Guldenmund, 2007). Questionnaires are tools that have been criticized for gathering in-depth data and therefore it has been argued that no matter how well structured questionnaires are they still lack an element of in-depth knowledge (Walsh et al., 2010, Yin et al., 2006). The language that is used in questionnaires should be simple so that the intent and scope of a question is easily understood by respondents. Response rate for questionnaires is usually low and is not in the hands of researchers (Martinez-Gomez et al., 2010, Orosa et al., 2008).

4.3     In-depth interviews

These are data gathering tools which allow the researcher to collect in-depth knowledge on the topic area. Interview gather useful information with the help of question and answer session held between researcher and respondent (Plesner, 2011, Oatey, 1999). Interviews are also of many types such as structured, unstructured and semi-structured (McClemont, 2011, Kvale and Brinkmann, 2009). This research will use open ended interviews, where the most important themes are identified by respondents themselves, which will contribute towards results (Gleadle, 2011, Verweij et al., 2011). One of the most important elements of in-depth interviews is element of tryst, so that honest and unbiased exchange of information takes place between both the parties (Bourquin et al., 2011, Frey and Oishi, 1995). In-depth interviews will be carried out both with social entrepreneurs and bank managers. 5 interviews will be conducted with social entrepreneurs and 5 with bank managers (Foddy, 1993, Atkin, 2001).

5      Project Plan

This table shows a dissertation project schedule that extends from 1st December 2016 to 30th March 2017. There are 4 major planned tasks as shown in this table above.


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Choi, N. & Majumdar, S. 2014. Social entrepreneurship as an essentially contested concept: Opening a new avenue for systematic future research. Journal of Business Venturing, 29, 363-376.

Dacin, M. T., Dacin, P. A. & Tracey, P. 2011. Social entrepreneurship: A critique and future directions. Organization Science, 22, 1203-1213.

Dacin, P. A., Dacin, M. T. & Matear, M. 2010. Social entrepreneurship: Why we don’t need a new theory and how we move forward from here. Academy of Management Perspectives, 24, 37-57.

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Stam, W., Arzlanian, S. & Elfring, T. 2014. Social capital of entrepreneurs and small firm performance: A meta-analysis of contextual and methodological moderators. Journal of Business Venturing, 29, 152-173.

Zahra, S. A., Gedajlovic, E., Neubaum, D. O. & Shulman, J. M. 2009. A typology of social entrepreneurs: Motives, search processes and ethical challenges. Journal of Business Venturing, 24, 519-532.




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