Learning statement

Running Head : REFLECTIVE OVERVIEW OF THE REPORT WRITING PROCESS Reflective overview of the report writing process

The report writing process was an eye opener to me in many ways . First I was able to understand with unprecedented clarity the IPO process . In this respect , an appreciation of the processes leading to , during and after the IPO was gained . The nature , scope , and importance of the IPO process in the UK , Vietnam and other parts of the world were understood It was observed that IPO 's in Vietnam have been beset by remarkable

failure , principally due to the frequent nature of overpriced shares offered

Additionally , it was surmised that Vietnam has a clear problem with reporting standards and allusions were cast on the integrity of the management in the issuing companies . These factors were observed to hinder success of IPO 's in Vietnam , together with the long period between listing and trading

The different valuation practices together with their utilities were learnt . Insight was gained on the underwriting process as well , and the different dividend policies understood . Important also was the understanding gained on the share pricing methods specifically book building , auctions , and the fixed pricing method . The mise vente and Dutch auction methods were especially revealing examples of how localized solutions can succeed even with relative unpopularity elsewhere . In this regard , it was proposed that some successful strategies be borrowed from UK with amendments that will make them suit the Vietnam environment

Problems encountered and Limitations

Several problems were encountered when conducting the study . First of all , the time available for the study was somewhat limited . As a result the number of Delphi groups constituted for the study was limited to only two , each with 3 experts . Additionally , the accessible group available for the in-depth interviews was reduced in to remain with a small number of respondents who could be interviewed within the time frame given . As the design was grounded theory and employed a judgmental sampling technique with heterogeneous sampling , it was initially hoped that a wide variety of opinions would be sought including the outlier ones . However , the limited time did not allow this to be entirely possible

Apart from the time constraints , financial limitations also played a limiting role in this study . As a result , study subjects were limited to a certain geographical radius in a bid to contain the costs . Of course this had the undesired effect of precluding important information from other knowledgeable sources located in far off areas . Whereas validity and reliability were reasonably assured using stringent exclusion and inclusion criteria and post-test pre-test and triangulation , some doubts lingered on the Additionally , cultural bias could have been unwittingly introduced in the Delphi

Recommendations for future improvements

Future studies should define the appropriate dependent variables with the share prices of IPO stocks in Vietnam as the independent variable and tests of causality carried out . It would thus be interesting to know , for instance , if the overpricing of shares during IPO 's is definitively attributable...