In this work, the density, viscosity, and electrical conductance of the ternary solution of {nicotinic acid polyethanol + water} were determined experimentally; polyethanol is commonly known as poly(vinyl alcohol) given the acronym PVA. The degree of dissociation, the partial molar volume of nicotinic acid in PVA aqueous solution, and the B-coefficient of viscous flow were evaluated. The effect of PVA on these parameters was discussed. Using Eyring's transition state treatment, the activation parameters of viscous flow, which reflects the effect of the concentration of PVA on the motion of nicotinic acid, have been obtained. The result shows that PVA increases the viscosity, decreases the degree of dissociation, and impedes the motion of nicotinic acid at lower concentrations but promotes the solubility and molecular diffusion of nicotinic acid at higher concentrations.