Thesis (M.S.)--University of Wisconsin--Madison, 1961. / Typescript. eContent provider-neutral record in process. Description based on print version record. Includes bibliographical references (leaves 126-130).

Doctorat en sciences sociales, politiques et économiques / info:eu-repo/semantics/nonPublished

Cost of debt is a key cognitive anchor for managerial decisions and an important determinant of firm profitability. We extend international management research by analyzing the effects of institutional distance, institutional quality, and their dynamics on the cost of debt in the context of foreign direct investments (FDI). We test our conceptual model on a sample of companies making 3,764 greenfield foreign direct investments from developed into less developed markets. Using hierarchical linear modelling, we show that the financial consequences of internationalizing into countries with weak institutions depend on both the institutional distance between countries, as well as their institutional quality. Furthermore, we find that recent changes in institutional quality form expectations about future development and ultimately influence post investment financing costs.

Master's thesis. / Format: PDF. Bibl.

Background: Acquiring capital is a crucial component for developing countries to strengthen their economies and gathering it solely through national channels is challenging. Public-private partnerships allows for foreign capital to fund projects aimed at developing infrastructure through private investors. Yet, the topic of how to attract investors to public-private partnerships is largely unexplored.   Purpose: The purpose of this study is to investigate how investors with different levels of experience perceive attributes of public-private partnerships in developing countries. Furthermore, to add to the current body of knowledge of the topic, as it is limited to investors with extensive experience. Thus, we investigate investors with a range of previous knowledge and their observed preferences regarding investment opportunities.  Method: This bachelor thesis is written in accordance with a positivist approach where quantitative data was extracted through a questionnaire from 31 individuals with different investments experience. The results are later analysed in terms of mean value, standard deviation, multivariate multiple regression analysis and p-value approach. The data is later discussed in terms of relevance, connection to literature and in context to the frame of reference.    Conclusion: The results gathered in this thesis showcased that 3 out of 14 factors indicated a statistical significance. Which refers to that the level of investor experience influence how the individual investor perceives adequate local expertise, political support and acceptance of PPPs and capabilities of the developing country. This on the other hand also represents the overall homogenous perception and assumption regarding various factors of PPPs in developing countries from an experienced and inexperienced investors perspective. Moreover, this study provides additional knowledge and literature background regarding how investor experience influence perception on various factors associated with PPP markets in developing countries.

Thesis (M. Com. (Economics)) -- University of Limpopo, 2021 / Investment as one of the main macroeconomic variables can ensure development of infrastructure and economic growth through increasing productivity and attracting investors. This study examined key determinants of investment activities by means of a comparative analysis between the SADC and BRICS groups during the period 2004- 2019. The key variables were the real exchange rate, real interest rate and trade openness. The analysis began by reporting unit roots tests, which paved way for employing Panel Autoregressive Distributive Lag (PARDL) methodology in the existence of different orders of integration. To estimate the long run relationship between the variables, we made use of the panel Johansen cointegration test, Pedroni test, Kao test and the Johansen Fisher cointegration test. Through the PARDL, the exchange rate and trade openness were found to be positive and statistically significant determinants of investment in SADC although statistically insignificant in the BRICS group. In addition, interest rates yielded insignificant results in the SADC region while, on the contrary, yielded a negative and statistically significant relationship in the BRICS group. The Granger causality test indicated a bi-directional causality in the exchange rate-investment and trade openness investment nexus for the SADC group while there was no causality in the BRICS group. It can be concluded that trade openness and exchange rate are key determinants of investment in the SADC region while interest rates are key in the BRICS group. It is therefore recommended that in order to attract investors and boost investment activities the SADC group need to focus more on exchange rate stability and trade openness while the BRICS group need to pay more attention to the flexibility of interest rates. This is beneficial on trading patterns, more for South Africa as it can be found in both groups.