Mối quan hệ kết nối mạng lưới giữa vốn xã hội ngoài doanh nghiệp và tăng trưởng kinh doanh nghiên cứu các doanh nghiệp bất động sản nhà ở tại đồng bằng sông cửu long TT TIENG ANH

1 MINISTRY OF EDUCATION AND TRAINING UNIVERSITY OF ECONOMICS HO CHI MINH CITY THE NETWORK RELATIONSHIP BETWEEN EXTERNALORGANIZATIONAL SOCIAL CAPITAL AND BUSINESS GROWTH: THE STUDY ON HOUSING REAL ESTATE BUSINESSES IN THE MEKONG DELTA SUMMARY OF THE DOCTORAL THESIS III Maãu trang phụ bìa luận án: Ho Chi Minh City–Year of 2021 Tp HồChí Minh - Năm MINISTRY OF EDUCATION AND TRAINING UNIVERSITY OF ECONOMICS HO CHI MINH CITY THE NETWORK RELATIONSHIP BETWEEN EXTERNALORGANIZATIONAL SOCIAL CAPITAL AND BUSINESS GROWTH: THE STUDY ON HOUSING REAL ESTATE BUSINESSES IN THE MEKONG DELTA Speciality: Commercial business Code: 9.34.01.21 SUMMARY OF THE DOCTORAL THESIS THESIS INSTRUCTORS: Associate Professor Lê Tấn Bửu Associate Professor Bùi Thanh Tráng Tp Hồ Chí Minh – Năm… The objective of the doctoral thesis is to explore the impact of external-organizational relational social capital factors on business growth of residential real estate businesses in the Mekong Delta, it is a basis of reference for housing businesses in the Mekong Delta to manage external network relationships more effectively In addition, the research results will serve as the basis to propose policy suggestions to help the housing real estate businesses in the Mekong Delta to promote business growth The research methodology being used in this thesis is the mixed research method First, the author uses qualitative research methods to adjust the scales Specifically, from the theoretical review, the author has identified the actors in the external-organizational network relationships (including: banks, real estate brokers, real estate contractors, real estate valuation experts, and real estate consultants) and the scales related to the above groups of variables.Based on the theoretical review and related studies, the author has designed a depth-interview discussion guideline for qualitative research in order to adjust the scales The author has conductedthe interviews with 10 housing real estate directors or business-owners with convenient sampling methods combined with snowball sampling techniques in the provinces of Bac Lieu, Ca Mau, and Soc Trang, KienGiang, An Giang, Ben Tre, and Can Tho City Based on theoretical relationships and qualitative research, the adjusted scales will ensure the content value, but will not confirm the reliability, so they should be placed in a pilot quantitative assessment before being conducted in a official research The pilot quantitative assessment was conducted with a database of 150 housing real estate directors or business owners in the provinces of Bac Lieu, Ca Mau, Soc Trang, Kien Giang, and An Giang, who are selected by the convenient sampling method combined with snowball sampling technique The objective of this pilot quantitative assessment step is to screen the observed variables used to measure the research concepts which are mentioned in the analytical framework of the thesis The analytical tools being used in this step are Cronbach's Alpha coefficients, exploratory factor analysis (EFA), confirmatory factor analysis (CFA) to check the appropriateness of the model, as well as check for uniqueness, convergence value and discriminant value Next, the satisfactory observed variables are used to input into the questionnaires which is used for the official quantitative research for a typical case with 320 residential real estate directors or businessowners in the Mekong Delta with the convenient sampling method combined with snowball sampling technique The analytical tools being used in the official quantitative research are identically used in the pilot quantitative research Furthermore, to test the research hypothesis and model, the structure equation model (SEM) was used, and the Bootstrap sampling method with N = 1,000 to further evaluate the reliability of the estimates in theoretical models About the scientific significance of the research: first of all, with the research objective of the thesis is to explore and measure the relationship between relational social capital and business growth of housing real estate businesses in the Mekong Delta, the author has based on the theoretical foundation, combined with a qualitative research and a quantitative research for a typical case in the Mekong Delta, would expect to adjust (if necessary) the scales of relational social capital, the scale of network benefits, the scale of responsiveness to change, and the scale of business growth, but still to ensure the content value and reliability to confirm inheritance value for the relevant researches in the Mekong Delta in particular and in Vietnam in general Secondly, the previous studies only mentioned individual aspects of social capital (structural social capital, relational social capital, cognitive social capital), so the identification of social capital is not comprehensive With the research objective of the thesis is to assess the impact of the relationship between external social capital and business growth of the housing real estate businesses in the Mekong Delta, the author has pointed out the direct and indirect effects of relational social capital toward the business growth of the companies This is a scientific proof to confirm that the relational social capital is one of the resources that need to be considered for housing real estate businesses Moreover, the results of this research have contributed to form the foundation for further studies on the network relationship between social capital and business growth not only in the real estate industry but also in other economic sectors About the practical significance of the study: first of all, this thesis aims to explore the impact of the relational social capital between housing real estate businesses and business partners (banks, real estate brokers, real estate contractors, real estate appraisers, real estate consultants) on the business growth of residential real estate businesses in the Mekong Delta Thereby, real estate businesses in the Mekong Delta may identify the framework for creating, maintaining and effectively using external-organizational relational social capital Secondly, the thesis' research results help the housing real estate businesses in the Mekong Delta to identify the benefits that the network relationship of the relational social capital brings; From there, the housing real estate businesses in the Mekong Delta will pay more attention to their own policies to develop and maintain the relationship of a sustainable partnership network Finally, this thesis shows the level of direct and indirect impacts of the forms of the external-organizational relational social capital linkages of the housing real estate businesses in the Mekong Delta It is a scientific foundation that helps the state management agencies within the 13 provinces of the Mekong Delta to identify the movement of external relational social capital resources in the housing real estate market Since then, the recommendations on management solutions are promptly raised to help promote the forms of external relational social capital connection more actively in the housing real estate market in the Mekong Delta The structure of this thesis is divided into 05 chapters, as below: In chapter - Introduction, the author raises research problems, summarizes relevant researches to find out the research gaps, new points of the topic, as well as raises research objectives, research questions, research subject and scope, research methodology, and a thesis structure in order to help the council and readers clearly overall visualize the thesis In chapter - Theoretical basis and research model, the author clarifies the concepts, the theoretical foundations of the network relationships, business performance and business growth in the housing real estate industry; based on the basis, the author proposes the research model, the original scales in the research model and hypotheses In chapter - Research methodology, the author presents the research process, a qualitative research method to adjust the scales, a pilot quantitative research method to pilot assessment of the scales, and an official quantitative research method to test the scales, a method of hypothesis testing and research model, and a sample design In chapter - Research results, the author presents the content of the qualitative research, a pilot quantitative research and an official quantitative research, research results by Cronbach's Alpha reliability assessment method, exploratory factor analysis (EFA), confirmationary factor analysis (CFA), the analysis method of structural equation model (SEM); and the bootstrap method is used to re-evaluate the model parameters, to test the role of the intermediate variable “responsiveness to change” in the model Finally, the discussion of the research results is presented In chapter - Conclusions and implications of administration, the author presents conclusions summarizing the main results of the study and proposing the implications of administration Finally, the author raises the limitations of the study and proposes further research directions In chapter 2, the author has presented the relevant concepts in the proposed research model (such as: the concept of real estate, the concept of social capital, the concept of structured social capital, the concept of relational social capital, the concept of cognitive social capital, the concept of external-organizational social capital); based on that basis, the author has argued that the relationship between actors participating in the housing real estate market was the relational social capital network in the value chain of the housing real estate industry in Vietnam Specifically, the relationship between housing real estate investors and actors in the value chain of the housing real estate industry in Vietnam (including banks, contractors, real estate brokers, real estate valuators, real estate consultants) has formed “the network of external- enterprise social capital" and also " the network of relational social capital" However, in reality, there are many banks, contractors, real estate brokers, real estate valuators, and real estate consulting firms which are simultaneously operating in the market This creates the challenge of how to measure the relational social capital network, through "quality of relationships", "level of trust", "expectations in the relationships" Therefore, this research is based on 02 theoretical foundations (these are: the theory of social capital and the theory of supplier selection), based on that basis, the author argues the relevance of the two fundamental theories in the proposed research model In details, the application of the supplier selection theory through the specific partner selection criteria (such as: bank selection criteria, construction contractor selection criteria, real estate broker selection criteria, the criteria for choosing real estate valuators) will measure the relational social capital network through "quality of relationships", "level of trust", "expectations in relationships" In addition, the application of social capital theory which is built on the foundation of "the access opportunities", "creating and maintaining relationships" and "building credibility and trust" to get feedback benefits from partners will help measure the relational social capital network through the attribute of "level of trust" Based on the basis, the author has further studied the concepts, a scale of the determinant of bank selection, a scale of the selected attributes of real estate agency firms, a scale of the selection criteria of contractor, a scale of the selection criteria of real estate valuation service provider, a scale of the network creation with real estate consultants, a scale of network benefits, a concept of business performance, a scale of responsiveness to change and a scale of business growth; and based on that basis, the author proposes research model and 08 hypotheses In Chapter 3, this thesis is done according to a research process consisting of 04 steps, which are: (1) adjusting the scales; (2) a pilot quantitative research; (3) an official quantitative research; and (4) testing theoretical model The methods used to adjust the scales are the pilot qualitative research with the information collection tools which are face-to-face discussion and the processed data by methods of describing, classifying and linking to preliminarily adjust the scales Moreover, the adjusted scales from qualitative research is preliminarily tested by using Cronbach's Alpha, EFA, and CFA tools with a 150observed sample size to form the official scales In the stage of testing the scales and the research model for a typical case in the Mekong Delta provinces, the used tools are Cronbach's Alpha, EFA, and CFA with a sample size of 300 observations being used to evaluate the scales and adjust the research model to suit the data set; the SEM analysis method and the impact assessment 10 method of the intermediate variable are used to test the research model A summary of process, methods and sampling for the study is presented in Table 3.1 Table 3.1: Summary of research method Steps in research Research methods process Step 1: adjusting the - Face-to-face discussion: interviewee is scales director, deputy director or owner of a residential real estate business; Sample size n = 10; - Convenient sampling in combination with snowball sampling techniques in the provinces of Bac Lieu, Ca Mau, Soc Trang, Kien Giang, An Giang, Ben Tre and Can Tho city - Discussion guideline, techniques of description, classification and linkage are used to preliminarily adjust the scales Step 2: a pilot - Preliminarily evaluate the scales with a quantitative research sample size of 150 directors, deputy directors, deputy directors or owners of residential real estate businesses; - Convenient sampling in combination with snowball sampling techniques in the provinces of Ca Mau, Bac Lieu, Soc Trang, Kien Giang, and An Giang - Cronbach's variables Alpha: with remove corrected research item-total 15 new ideas, to run their business efficiently, to make business decisions, and they can easily acquire additional resources and information when needed The hypothesis H5 is accepted, that is, in the relationship of the relational social capital network, in which creating the network with the real estate consultants has a positive impact with the network benefits In other words, the housing real estate managers in the Mekong Delta perceive that the more they build up the network with the real estate consultants, the more sustainable and qualified their relationships with the real estate consultants are; As a result, the housing real estate managers in the Mekong Delta receive more benefits from connecting a network with the real estate consultants, such as: they can easily obtain the resources and information needed to support their new ideas, to run their business efficiently, to make business decisions, and they can easily acquire additional resources and information when needed The hypothesis H6 is accepted, meaning that the network benefits have a positive impact on the responsiveness to change of the housing real estate businesses In other words, the housing real estate managers in the Mekong Delta perceive that the more they receive the benefits from connecting a network, the more their products match what customers want, the more they respond to the changes happening in the business environment, the more quickly they respond to significant changes in the price structure of competitors, the more they can execute their marketing plan in a timely manner, they can take the immediate corrective actions when they discover that the customer is dissatisfied with the quality of the service, and 16 the relevant staff or department of the company may coordinate with the customers to modify the products or services when the company knows that a customer wishes to modify a product or service The hypothesis H7 is accepted, meaning that the network benefits have a positive impact on the business growth of the residential real estate businesses In other words, the housing real estate managers in the Mekong Delta perceive that the more they receive benefits from connecting a network, the more they see the growth in their company’s revenues and profits over the past years; they can predict the business growth over the coming years despite the effects of market instability In addition, the company’s departments rely on resources and information received from the network benefits to plan how the business growth and the business penetration will take place in the housing real estate business environment, and to help them more understand that the company's growth depends on sales and profit growth The hypothesisH8 is accepted, meaning that the responsiveness to change has a positive impact on the business growth of residential real estate businesses In other words, the residential real estate managers in the Mekong Delta perceive that the more their products match what customers want, the more they respond to the changes happening in the business environment, the more quickly they respond to significant changes in the price structure of competitors, the more they can execute their marketing plan in a timely manner, they can take the immediate corrective actions when they discover that the customer is dissatisfied with the quality of the service, and the relevant staff or department of the company may coordinate with 17 the customers to modify the products or services when the company knows that a customer wishes to modify a product or service; the more they see the growth in their company’s revenues and profits over the past years; they can predict the business growth over the coming years despite the effects of market instability In addition, the company’s departments become more and more flexible, thus, they can plan how the business growth and the business penetration will take place in the housing real estate business environment; and to help them more understand that the company's growth depends on sales and profit growth Testing the intermediate variable shows that the presence of the intermediate variable "responsiveness to change" has reduced the impact of the independent variable "network benefits" on the dependent variable "business growth" In addition, the independent variable "network benefits" both directly and indirectly affects the variable "business growth" through the intermediate variable "responsiveness to change" with the overall impact level of βT= 0.50508 Besides the practical contribution is to explore the impact level of the relationships of relational social capital between the housing real estate businesses and business partners (banks, real estate brokers, real estate construction contractors, real estate valuator, real estate consultants) on the business growth of the residential real estate businesses in the Mekong Delta Furthermore, the research has shown the direct and indirect effects of the relational social capital on the firm’s business growth This is a scientific proof to confirm that the relational social capital is one of the resources that needs to 18 be paid more attention by the housing real estate businesses in the Mekong Delta Moreover, the results of this research will place the foundation for further studies on the network relationship between the social capital and the business growth not only in the real estate industry but also in other economic sectors The research results show that the managers of residential real estate companies in the Mekong Delta agree that their company's business growth is shown through the fact that they have witnessed their company’s growth in revenues and profits over the past years; they can predict the business growth over the coming years despite the effects of market instability; that the company’s departments rely on the resources and information received from the network benefits so that they can plan how the business growth and the business penetration will take place in the housing real estate business environment; and that they more understand that the company's growth depends on sales and profit growth Furthermore, in order to achieve such business growth, the managers of the residential real estate companies in the Mekong Delta also agree that there is a direct and indirect contribution from network benefits with the intermediary role of “responsiveness to change” And to acquire these network benefits, the managers of the residential real estate companies in the Mekong Delta must build up good relationships with the partner entities (banks, construction contractors, real estate brokers, real estate valuator, real estate consultants) to form a network that can generate benefits And such network relationships are the relational social capital However, since the resources of the housing real estate companies in the Mekong Delta are limited, the 19 managers of the residential real estate companies in the Mekong Delta should prioritize the following solutions in order to create a network that can generate benefits In details: - For building partnerships with banks, the directors of housing real estate companies in the Mekong Delta should make the "partnership building policy" transparent in order to select the best quality banks This policy includes the criteria on which the company will base in order to select banks, for example: the company which builds partnerships with banks must base on the banks’ speed of service and decision-making, should base on the banks’ accuracy in their account or transaction management, should base on the banks’ effectiveness in correcting mistakes These are the three criteria that managers of the housing real estate companies in the Mekong Delta consider the most important In addition, the managers of the housing real estate companies in the Mekong Delta should also consider a few more criteria in the "partnership building policy" such as: the company which builds partnerships with banks should base on the bank staff’s friendliness and usefulness, should base on the availability of loans from the banks, should base on the competitive prices on the banks' service fees, should base on the competitive prices for the banks' loans, and should base on the high flexibility in the banks’ loan negotiations - For building partnerships with real estate brokers, the managers of the housing real estate companies in the Mekong Delta should make "the partnership building policy" transparent in order to choose the best quality real estate brokers This policy includes the criteria on which the company will base in order to select the real estate 20 brokers; for example: the company that builds partnerships with the real estate brokers should base on the professionalism of the real estate brokers in processing transactions, and should base on the overall dedication and commitment of their marketing team These are two criteria that the managers of the housing real estate companies in the Mekong Delta consider the most important In addition, the managers of the housing real estate companies in the Mekong Delta should also consider a few more criteria in the "partnership building policy" such as: the company which builds partnerships with the real estate brokers should rely on the real estate broker's ability to achieve the desired results, should base on the real estate broker's experience, and should base on the real estate brokers’ big database of clients - For building partnerships with the real estate valuators, the managers of the housing real estate companies in the Mekong Delta should make “the partnership building policy" transparent in order to choose the best quality real estate valuators This policy includes the criteria on which the company will base in order to select the real estate valuators; for example: the company which builds the partnerships with the real estate valuators must base on the quality of the real estate valuation agency’s employees, and should base on the reputation of the real estate appraisal companies These are two criteria that the managers of the housing real estate companies in the Mekong Delta consider the most important In addition, the managers of the housing real estate companies in the Mekong Delta should also consider a few more criteria in "the partnership building policy" such as: the company which builds the partnerships with the 21 real estate valuators should base on the relevant experience of the real estate valuators, and should base on the real estate valuators’ local expertise - For building partnerships with the construction contractors, the managers of the housing real estate companies in the Mekong Delta should make “the partnership building policy" transparent in order to choose the best quality construction contractors This policy includes the criteria on which the company will base in order to select the construction contractors; for example: the company which builds the partnerships with the construction contractors should base on the suitability of machinery and equipment, and should base on the construction contractors' reputation and image These are two criteria that the managers of the housing real estate companies in the Mekong Delta consider the most important In addition, the managers of the housing real estate companies in the Mekong Delta should also consider a few more criteria in "the partnership building policy" such as: the company which builds the partnerships with the construction contractors should base on the cost effectiveness in the previous similar projects, and should base on the time effectiveness in the previous similar projects - For building partnerships with the real estate consultant agencies, the managers of the housing real estate companies in the Mekong Delta should two things, these are: developing and making "the policy of maintaining cooperation with consultant agencies" transparent, and strengthening the diplomatic activities in order to make the good trust with the consultant agencies.These are two issues that the managers of the housing real estate companies in 22 the Mekong Delta consider the most important In addition, the managers of the housing real estate companies in the Mekong Delta should also consider some additional aspects of "the partnership building policy" with the real estate consultant agencies, such as: the company should frequently raise more opportunities as to access and exchange the job issues with the real estate consultant agencies This is an effective way to explore the professionalism and quality of the real estate consultant agencies - For receiving the network benefits: even though the managers of the housing real estate companies in the Mekong Delta have a wide range of relationship with the actors (banks, real estate brokers, real estate valuators, construction contractors, real estate consultant agencies) in the market, but if the relationship just stops at the level of social acquaintances, the managers of the housing real estate companies in the Mekong Delta cannot effectively exploit the benefits from the network Therefore, the solution for the managers of the housing real estate companies in the Mekong Delta to exploit the benefits from connecting a network is: first of all, the managers of the housing real estate companies in the Mekong Delta must have or propose an attractive housing real estate project in terms of profit or creating the benefits that partner entities (banks, real estate brokers, real estate appraisers, construction contractors, real estate consultant agencies) are interested in On that basis, the managers of the housing real estate companies in the Mekong Delta should rely on the above-presented partner selection criteria in order to choose the best quality strategic partners (banks, real estate brokers, real estate valuators, construction contractors, real estate consultant 23 agencies) Next, the managers of the housing real estate companies in the Mekong Delta should frequently actively and openly exchange the information about their housing real estate projects and negotiate the profitability or benefits that these strategic partners will receive when they cooperate to implement a housing real estate project Once these strategic partners perceive that the profits or benefits which they will receive are commensurate with what they will contribute to the residential real estate project, they will enthusiastically share their own information and resources with the managers of the housing real estate companies At this time, the directors of the housing real estate companies in the Mekong Delta really receive the benefits from the network connection; These are: exploiting resources and information from strategic partners (banks, real estate brokers, real estate appraisers, construction contractors, real estate consultant agencies) in order to support new ideas, to run their business efficiently, to make business decisions, and to supplement them when needed - For the intermediate role of the variable "responsiveness to change": the research results show that the business growth of the housing real estate companies in the Mekong Delta has an intermediate contribution of the housing real estate companies’ responsiveness to change Specifically, after the directors of the housing real estate companies in the Mekong Delta receive benefits from the network connection (which are the resources and information from partner entities), the directors of the housing real estate companies in the Mekong Delta should regularly and periodically consider their housing product development in order to 24 ensure that their housing product is suitable for what the customer wants Moreover, the directors of the housing real estate companies in the Mekong Delta need to regularly share the resources and information received from partner entities towards the employees or relevant departments in the company as to coordinate with the customers for modifying the residential products or services when the company knows that a customer wishes to modify the residential products or services In addition, the directors of the housing real estate companies in the Mekong Delta need to regularly and proactively plan to exploit the resources and information from the partner entities in order to adapt to the changes happening in the business environment, as to respond quickly to the significant changes in the competitors' pricing structures, as to implement the marketing plans in a timely manner, and as to take immediate corrective actions when the company discovers the customer dissatisfaction with the company’s service quality On the other hand, the housing real estate companies in the Mekong Delta also need to implement a few additional sub-solutions to create networks that can generate benefits Specifically, to effectively develop the relational social capital, the housing real estate companies in the Mekong Delta should focus on the following contents: Firstly, the housing real estate companies in the Mekong Delta should actively create more interaction channels as to facilitate the connection of entities participating in the housing real estate market These interaction channels will contribute to diversifying and filtering the social capital for the housing real estate market 25 Secondly, the housing real estate companies in the Mekong Delta should proactively create the social networking tools (for example: creating the online forums, creating a group of real estate entrepreneurs (later upgrading into the association of real estate entrepreneurs), ).It is important to regularly maintain this connection activities so that partner entities (banks, construction contractors, real estate appraisers, real estate brokers, and real estate consultants) can regularly participate in the connection activities, exchange and capture information mutually To this, the housing real estate companies in the Mekong Delta need to regularly rank the prestige, level of contribution, and the members’ participation in the general activities Thirdly, the housing real estate companies in the Mekong Delta need to regularly participate in the fairs and exhibitions, which will create conditions for the housing real estate companies to develop the social networks with banks, construction contractors, real estate appraisers, real estate brokers, real estate consultants and other actors who are outside the real estate industry Through that, it helps the housing real estate companies in the Mekong Delta to access to the information in order to make the business decisions reasonable; and at the same time, it is also a place to mutually exchange the information and technology among the enterprises However, this thesis also has a few limitations First of all, the current research model is not comprehensive There are still many other entities that have not been identified in the housing real estate network Some of these factors are the relationship with the local authorities, the relationship with the real estate associations, etc The 26 omission of these actors is a limitation of the current theoretical model In addition, although this study has found out a significant impact of the relational social capital factors (the relationships between the housing real estate managers with banks, real estate brokers, construction contractors, real estate brokers, and real estate consultant firms) having influenced the business growth of the residential real estate companies However, if only using the theory of relational social capital, it is still simple in the research Therefore, the author proposes future research to consider expanding to incorporate more aspects of structural social capital and cognitive social capital In addition, the future studies should incorporate the human capital, intellectual capital, and social capital in order to assess the impact of these types of capital on the business growth Moreover, this thesis only focuses on the housing real estate businesses in the Mekong Delta to develop the social capital theory, therefore, there may be the bias towards the industry and potential locations This has exposed the problems of generality in the different contexts and industries Therefore, the further studies should base on the samples which are taken from other regions, such as the Red River Delta or major cities (Hanoi, Ho Chi Minh City, Da Nang, etc), this will provide the degree of geographical and economic diversity, and broaden the generality of the research findings Finally, this thesis is based on the convenient sampling method combined with the snowball sampling methos, and the collected research data is based on a single respondent (01 director from 01 27 housing real estate company in the provinces of Mekong Delta), However, getting multiple responses from many respondents in each housing real estate company in the Mekong Delta provinces (deputy director and department heads in the each company) shows the plentifulness of the research findings Therefore, the future studies should implement the multi-interviewee method to collect data, in order to satisfactorily solve the bias problem due to the unique type of respondents 28 LIST OF THE AUTHOR’S PUBLISHED RESEARCH WORKS BEING RELATED TO THE THESIS Scientific research works Le Thanh Tung, 2017 The impact of external social capital on the business activities of the real estate companies in Bac Lieu province School-level scientific research work Bac Lieu University Articles Le Tan Buu, Bui Thanh Trang, Le Thanh Tung & Nguyen The Hung, 2020 The social capital network relationship in the value chain: a theoritical approach with the case study of Vietnam’s real estate industry Journal ofIndustry and Trade, No 17-July/2020, pp 116-122 Bui Thanh Trang & Le Thanh Tung, 2020 The relationship between social capital and business performance: a theoretical approach Journal ofIndustry and Trade, No 8-April/2020, pp 280-287 Le Thanh Tung, 2019 The impacts of external social capital on the business growth of enterprises: preliminary research results of housing and real estate enterprises in the Mekong Delta Journal ofIndustry and Trade, No 6-April/2019, pp 244-255 Le Thanh Tung, 2018 The impact of the 2008 global financial crisis on attracting FDI capital into the real estate sector in Vietnam: predictions and recommendations Journal ofIndustry and Trade, No 3-March/2018, pp 127-133 Le Thanh Tung, 2017 Building and Testing the product scale impacting on house-buyers’ satisfaction – study on the housing 29 projects in Bac Lieu province Journal ofIndustry and Trade, No 10-September/2017, pp 186-194 Le Thanh Tung, 2016 The practice of FDI capital attraction in the real estate sector in Ho Chi Minh City since the accession into WTO – predictions and recommendations.Science & Technology Development Journal, Vol 19, No Q4/2016, pp 127-142 Le Thanh Tung, 2016 The impact of corporate culture factors on business performance – study on the real estate companies in the three provinces of Soc Trang, Bac Lieu and Ca Mau Journal ofIndustry and Trade, No 9-September/2016, pp 103111 ... Bui Thanh Trang & Le Thanh Tung, 2020 The relationship between social capital and business performance: a theoretical approach Journal ofIndustry and Trade, No 8-April/2020, pp 280-287 Le Thanh... sampling technique The analytical tools being used in the official quantitative research are identically used in the pilot quantitative research Furthermore, to test the research hypothesis and... qualitative research method to adjust the scales, a pilot quantitative research method to pilot assessment of the scales, and an official quantitative research method to test the scales, a method