Motivation of Chinese investment in Vietnam

China attracted a record of US$52.7×109 in foreign direct investment (FDI) in the year 2002, surpassing the United States to become the world’s largest FDI recipient. China’s success in attracting FDI has received significant attention from academics. Several theoretical approaches have been developed to explain the determinants of FDI in China. However, it seems to be ignored that China has also become a growing provider of significant FDI to the rest the world. According to United Nations Conference on Trade and Development (UNCTAD)’s 2004 report, as a developing country, replacing Japan, China has made the list of the expected top five home countries worldwide for the first time in terms of geographical coverage (2004–2005). Vietnam is second largest market and another emerging transition tiger in Southeast Asia. Both China and Vietnam were and are experiencing transitions from centrally planned economy to free market economy. This paper, therefore, attempts to explore the development of Chinese investment in Vietnam, analysing the main motives for, and characteristics of, Chinese Multinational Enterprises’ (MNEs) investment in Vietnam.

Positioning terrorism in management and marketing: Research propositions

Terrorism poses both direct and indirect threats to the operations of the firm. It represents a market imperfection that increases transaction costs and creates barriers to the free flow of goods, affecting potential gains that would occur in the presence of unhindered exchange. Terrorism reflects the risk or actual encounter of violent acts, whose goal is to engender fear, coercion, or intimidation. We investigate terrorism and its association with marketing strategy and operations. Key concepts on terrorism are reviewed and a collection of propositions is offered. We highlight the pivotal roles of sourcing, production, distribution, pricing, communications, and general business strategy as functions influenced by, or capable of influencing, terrorism. Lastly, we offer managerial implications, as well as directions and guidelines for future research.

Relative accuracy and predictive ability of direct valuation methods, price to aggregate earnings method and a hybrid approach

In this paper, we assess the relative performance of the direct valuation method and industry multiplier models using 41 435 firm-quarter Value Line observations over an 11 year (1990–2000) period. Results from both pricingerror and return-prediction analyses indicate that direct valuation yields lower percentage pricing errors and greater return prediction ability than the forward price to aggregated forecasted earnings multiplier model. However, a simple hybrid combination of these two methods leads to more accurate intrinsic value estimates, compared to either method used in isolation. It would appear that fundamental analysis could benefit from using one approach as a check on the other.