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  • 學位論文

金融資訊服務商進軍越南證劵市場的策略研究

Strategic Planning for the Financial Information Providers in Vietnam Securities Market

指導教授 : 李存修
共同指導教授 : 郭瑞祥(Ruey-Shan Guo)

摘要


老一輩的台商曾說越南是『越來越難』可是現在這個魔咒終於被越南於2007年初加入WTO後徹底的顛覆了。突然之間好像全球的資金都奔往越南去似的,無論如何越南仍屬於淺碟型的證劵市場,熱錢湧入導致股市、地產全面狂漲,上世紀八十年代末發生在台灣的『熱錢淹腳目』,『全民瘋狂炒股』在這裡全都出現了。越南人頓時富裕了、瘋狂了,全球也跟著吹越南熱,各種名詞如VISTA,『越南是下個中國』等也瀰漫著全球的投資圈。但是好景不常,越南政府為了保八的經濟增長,沒有配套措施且經驗不足,漠視熱錢的湧入四竄,政策未能及時煞車,再加上全球糧食、石油持續飆漲有如火上澆油,通膨終至一發不可收拾;今年以來政府為了全力抗通膨,緊抽銀根,利率高漲,股市崩盤,股民血本無歸!此時『耳語投資法』應成為過去式,股民及尚未進場的價值投資者的選股策略應該回歸基本面,因此正確且即時的金融資訊就益發重要了。精誠公司以台灣的成功經驗,是否可以複製到新興市場呢?如果再以『乾隆』及『萬得』在大陸的實戰經驗加持,是否也就可以長驅直入越南市場呢?大的外在環境固然要衡量,危機就是轉機,因此一旦決定策略位移進入越南市場後,就必須有全新的戰略與戰術,同時謹記2P(people、price)及3C(contents、channels、competitions);掌握這個操之在我贏的策略,把握此時低點進場的有限的機會,在最短時間複製成功,架高其他競爭者的進入門檻,絕對是經營者最高的指導原則。越南自然也不例外,法令不健全,行政效率差,市場紊亂又不尊重智財權。因此如何在這樣的背景下建立一個成功的商業模式,是本論文主要探討的方向。

並列摘要


Vietnam has been accessed by WTO since January 2007 it seemed all of a sudden the door open to the free world. International capitals were flooding into this primitive country; invested in almost everything they can buy. Local stock index recorded at historical high during 2007. Unfortunately, Vietnam in 2008 encountered a double-digit inflation resulting for tightening of monetary policy, and raising the issue of foreign exchange policy, to cool down an overheating economy. It hurts local stock market and aggravates this rumor driven market even further hence changed it from the best to the worst performance in the world. This so-called financial crisis ruined many local investors’ dream as bubble burst. However, in this turmoil, the financial information providers should be able to showcase their value for investment decisions. SYSTEX as the benchmark financial information provider in Taiwan, how are we going to cash in on this opportunity which is key scrutiny and experiment; learning from past successful experience from self, and from Qianlong and Wind, current LOCAL KING in China. Adventure to Vietnam is full of challenges and numerous strategic plans we have to elaborate and re-adjust to reach that ultimate goal of LOCAL KING. Regardless the uncontrollable macro-economic environment, once decide to jump in, we should focus on 2Ps & 3Cs i.e. people, pricing, contents, channels, and competitions. It is recommended, FIPs should exploit this emerging market when in dip and skillfully utilize the suggested strategic plans to build up successful business model and put up higher entrance barrier in preventing competitions.

參考文獻


8. Le Viet Hung, A Vector Auto-regression (VAR) Analysis of the Monetary Transmission Mechanism in Vietnam, Le Viet Hung National Graduate Institute for Policy Studies (GRIPS)
5. Grinter, Lawrence E., January 1, 2007, Southeast Review of Asian Studies, “Vietnam’s security challenges: dilemmas of reform communism”
6. Grinter, Lawrence E, September 22, 2006, “Vietnam’s Thrust into Globalization: Doi Moi’s Long Road”
8. Mackay, Charles, 1841, “Extraordinary Popular Delusions and Madness of Crowds” Richard Bentley, London
9. Nguyen Vu Tung, December 1, 2007, “Vietnam’s membership of ASEAN: a constructivist interpretation”

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