Impact Evaluation of Training on Firms’ Performance: The Case of the Small and Medium Enterprises in Vietnam

This paper aims to evaluate the impact of investment in human capital (off-the-job training) on performance of the small and medium enterprises (SMEs) using Propensity Score Matching (PSM) method with dynamic approach by analyzing the data from two surveys on the SMEs in Vietnam in 2009 and 2011. The results found that training has significantly positive impact on ROA in short term, but no impact on revenue and profit of the firms in short term and in the near future (one-or-two-year after training)