The Operation & Risk In Project Management For Overseas Investment & Acquisition Of Commercial Real Estate

This research uses an institution based view to explore how Chinese enterprises engage in real estate capital buyout in Vietnam and their strategy of choice in the recent years. The main focus is the process of real estate capital buyout, which includes land acquisition, design and construction; and how the Chinese enterprises strive under the limitations imposed by the local Chinese government to remain competitive and successful.The first part of the research process consists of applying institutional theory on six real world cases to examine the strategy of choice of Chinese enterprises when engaging in real estate capital buyout under the limitations of the Vietnamese government. The analysis will cover four different aspects, which include( 1) the environmental limitations imposed by the Vietnamese government such as laws, policies, politics and people, and how these limitations vary throughout time;(2) the strategic objectives Chinese enterprises aim for, such as Networks and Capabilities, and how these objectives vary according to the changing environmental limitations;(3) the ownership types when entering the Vietnamese market under different environmental limitations; and(4) the five most suitable strategic responses for real estate capital buyout, referenced from fifteen real world cases listed in the literature, to address formal institutions and informal institutions and how these responses, namely comply, conceal, co-op, influence, and control, vary throughout time.The second part of the research process states the following three propositions based on the strategy of choice framework:(1) the combination of environmental limitations and strategic objectives;(2) the combination of environmental limitations and ownership types;( 3) the combination of environmental limitations and strategic responses. These propositions use the environmental limitations as a basis to examine the strategic objectives, ownership types, and strategic responses of the Chinese enterprises, to propose how Chinese enterprises should engage in real estate capital buyout in countries with environmental limitations similar to Vietnam.The contributions of this research are(1) believe the institution based can be used to explain that strategic choice of companies engaged in real estate capital buyout; and(2) evidence of strategic choices made by Chinese enterprises when engaging in real estate capital buyout in Vietnam in the recent 20 years and forecast of possible strategic choices; and(3) a reference for other enterprises when planning to engage in real estate capital buyout in unfamiliar environments.