Master Program in Business Administration

The University of Danang – Shu-te University
Class: SD MBA1
THESIS PROPOSAL
Student: Tran Thu Huong
Advisor: Shyh-Hwang Lee
Co-Advisor: Nguyen Thanh Liem
Master Program in Business Administration
Graduate School of Business Administration
Shu-te University, Taiwan
August, 2012
Title: A study on investor’s behavioral factors affecting on
investment satisfaction in Danang industrial zones.
Key words:
- Investment satisfaction
- Investor’s behavioral factors
- Investment risk
- Industrial zone
Table of contents
1. Introduction:
1.1 Research background
1.2 Research motive
1.3 Research purpose
2. Liturature review:
2.1 Theoretical background on industrial investor’s behavioral
2.2 Theory of investment satifsaction
3. Research method:
3.1 Research model
3.2 Research hypotheses
3.3 Measurement of variable
3.4 Data collection
4. Concluding remark

5. References

1. Introduction
1.1 Research background
1.1.1 Vietnam Industrial zones overview
- Industrial zone is the area for industrial development.
- Industrial zone often be permitted by government
- With specific technical infrastructure and legal.
- 1957 year, Viet Nam government select Viet Tri city for
building first industrial zone.
Until the end of 2010:
- 255 industrial zones to be established.
- Total area nature land of 69,253 hectares.
- Land for lease about 45,000 ha.
- More than 3,900 foreign investment projects with
registered capital about USD 54 bilion.
- 4,664 domestic investment project with registered
capital about VND 310,000 bilion.
(Source: Planning and Investment Ministry, in Viet Nam)
1. Introduction
1.1Research background
1. Introduction
1.1 Research background
1.1.2 Danang Industrial zones:
At present, there are 6 industrial zones:
- An Don Industrial zone
- Hoa Khanh industrial zone
- Lien Chieu industrial zone
- Hoa Cam industrial zone
- Wide – Open Hoa Khanh industrial zone

- Danang Aquatic Sevice industrial zones
1. Introduction
1.1 Research background
At the end of 2010 year:
- 62 foreign investment project with registered
capital of USD 551.75 million.
- 251 domestic investment project with registered
capital of VND 9,820.04 billion.
(Source: Danang Industrial and Export Processing
zones Authority)
1. Introduction
1.2 Research motive
-There are infrastructure development company
that exploitate Danang Industial zones.
- Target of infrastructure development companies
are create income offset cost. This company have some
investment risk.
- In recent time, the attraction of investment in
Danang Industrial zones is not effective.
- I'm working at Danang Industrial zones
Infrastructure development and exploitation company.
1. Introduction
1.3 Research purpose
- Understand investor’s behavioral factors.
- Find out investor’s behavioral factors affect on
investment satisfaction.
- Study investment risk affect on investment
satisfaction of enterprise in Danang Industrial zones.
- Show suitable marketing strategy of investment
attraction in industrial zones.

2. Literature review
2.1 Theory of investor’s behavioral factors
- It is the subjective action supply economic benefit.
- Its as building and developed for rent assets with the
aim of recovery and security in earning benefit.
- The investor's behavioral factors are considered:
+ Investment profitability.
+ Regulation and restrictions.
+ Investment risk.
+ Investment location.
2. Literature review
2. 2 Theory of investment satisfaction
- The investment satisfaction have identified:
+The benefit that investor retention making to
group or organization.
+ The investor stays longer with organization
- The investment satisfaction was consider as key in
determining why investor leave or stay with
organization.
- The level of satisfaction is rather different, it depend
on better price, policies and especialy behavior of
investor.
3. Research method
3.1 Research model

Investment
Profitability
Investment risk
Investment
location

Regulation and
restriction
Investment
satisfaction
H1
H3H2
H4
3. Research method
3.2 Research hypothese
H1. Investment profitability have positive
affect in investment satisfaction.
H2. Regulation and restriction have negative
affect on investment risk.
H3. Investment risk have negative affect on
investment satisfaction.
H4. Investment location have positive affect on
investment satisfaction.
The investor’s behavioral factor is construct, it is
including 4 concept:
- Investment profitability
- Investment risk
- Regulation and restriction
- Investment location
3. Research method
3.3 Measurement of variable
Independent variable:
- Investment profitability
- Regulation and restriction
- Investment location
Mediating variable:

- Investment risk
Dependent variable:
- Investment satisfaction
3. Research method
3.3 Measurement of variable
3. Research method
3.3 Measurement of variable
Variables Measures
Investment profitability Guarantee income in inflation
Increase of capital
Earning rate level
Possibility of lease
Investment risk Ownership reputation
Maintaining capitial intact
Possibility of implication capital
Possibility of development capital
Regulation and restriction Various restriction
Development policy
Investment-related approval
Investment location Education level
Population and transportation
Location of public facilities
Location income
Investment satisfaction Land to invest
Investment decided
Experience of investment
3. Research method
3.4 Data collection
- Data collection method: mail survey by questionnaire
to 150 enterprises in Da Nang Industrial zones

- Measurement scale: five – point Likert scale
- Data collected will be 120 sample
4. Concluding remark
- Provide knowlegdes in investor’s behavioral
affecting on investment satisfaction in Danang industrial
zone.
- Making suitable strategic marketing of
investment in industrial zones for investors.
- Improving investment attractive into Danang
industrial zones.
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Seoul: Hyungsul Publishing Co.; 1998. P. 10-58
b. Gabrino E., Jonhson MS. The different roles
of satisfaction, trust, commitment in customer
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c. Shim G., Lee S. and Kim Y. (2008). Joural
of Business Research: How investors behavioral
factors influence investment satisfaction, trust in
investment company, and reinvestment intention.
Elsevier, 61(2008), p. 47-55
4. References
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Industrial park in Viet Nam: Twenty years of history. Hanoi
publishing house, p. 14-19
e. Reichheld, F.F (1996). Learning from customer
defections. Harvard Business review, march, p.56-69.
f. Chang YH. (1987) Study on the land value
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g. Ross SA., Westefield RW., and Jordan BD.,

(1995). Fundamentals of corporate finance. 3
rd
ed.
Homewood, IL: Richard D. Irwin, Inc., p. 36-42
4. References
Thank for your
attention