Abstract
The high economic development in Vietnam contributes much momentum to boost the estate industry in this country. However, competition in this market is also increased. To survive better in this industry, the estate companies in the Vietnam estate industry can apply strategic alliance which, however, depends heavily on forming the right partnership. For this purpose, a hybrid approach combining Grey Theory with Data Envelopment Analysis (DEA) has been proposed in this research to assess and predict the performance of some Vietnamese estate companies, in addition to helping to form the right partnership. For empirical study, 16 companies in the Vietnam estate industry have been selected as Decision Making Units (DMUs). After collecting these DMUs’ historical data in the time period 2012-2017, the grey model GM (1,1) was first used to forecast the performance of these DMUs in 2018-2020. Then, the slacks-based measure (SBM) super efficiency (super SBM) model was used to assess their performance. To initiate partnerships, Becamex Infrastructure Development Joint Stock Company (IJC) has been selected as a target company and it can develop 15 different strategic alliance scenarios. The experimental results show that only some of the scenarios are beneficial. Thus, prudence is a necessity when using strategic alliance.
Highlights
Vietnam has achieved high economic development in recent years
The data of Decision Making Units (DMUs) were collected from the General Statistics Office of Vietnam, and some financial reports were collected from VietStock and CafeF, which are two famous stock markets in Vietnam
The bad and right partnerships have been identified, from which a target company can find the right partner for a strategic alliance
Summary
Vietnam has achieved high economic development in recent years. The GDP growth of Vietnam hit 7.08% in 2018, which is the highest since 2008. The high economic development has helped sustain the growth of Vietnam asset market. In the M&A market, real estate, consumer goods, banking, and finance are main subjects to acquires Those properties in big cities or new urban areas with high population and resorts and hotels in the city center are popular products to investors [2]. Das and Teng [9] defined strategic alliance as “brings together otherwise independent firms to share resources in product design, production, marketing, or distribution.”. This means that strategic alliance is sometimes just regarded as a “partnership” that offers businesses a chance to join efforts for a mutually beneficial opportunity and sustained competitive advantage. The joint effort can offer a better achievement for all allied members
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