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Private Investment in electrical power generation will play a substantial role in South Africa’s massive capacity expansion programme over the next 20 years. Should this investment not materialise, South Africa’s security of electricity supply would be seriously compromised. The purpose of this research was to determine whether major factors that impact on the attractiveness of a country’s power sector to private investors are being catered for in South Africa and where the possible shortcomings are. The research was qualitative in nature and the methodology followed was to survey industry role players by way of a self-administered questionnaire. Response data were analysed using descriptive statistics as well as inferential statistics (hypothesis testing) where a one tailed, one sample t-Test was used. The findings of the research are that the South African legal system and the revenue generation potential of the power sector are advantages that the country can leverage off to attract power sector investors. Major stumbling blocks to private investor participation needing immediate attention, are the lack of responsiveness of Government to private sector needs and timeframes as well as the lack of independence of the Regulatory institutions and processes from Government interference whether perceived or real. / Dissertation (MBA)--University of Pretoria, 2010. / Gordon Institute of Business Science (GIBS) / unrestricted

0 / SPK / specialcollections@tulane.edu

The investment needs of the water and sanitation sector and the financing constraints facing many developing countries were important catalysts for the promotion of private investment during the 1990s. Towards the end of the decade however, the flow of private capital began to decline primarily due to the poor performance of some investments and difficulties encountered during these transactions. Regardless, private investment is still considered an important financial resource for the sector which has resulted in considerable attention in addressing governance, economic and socio-political factors which can discourage investment. The aim of the research is to develop a strategic framework for attracting private investment to the Caribbean water and sanitation sector. Using a multiple-case study approach, the research examines the phenomenon of private investment in the water and sanitation sectors in Jamaica, Barbados and Trinidad and Tobago by assessing the environment for private investment and determining the specific drivers and deterrents to this type of investment. The implications of small size in the Caribbean context for institutional requirements to support private investment in the sector are also examined. Primary data for the research are obtained from public officials involved in the management, operation and regulation of the sector, local and international private service providers and local financial institutions through interviews and survey questionnaires. Documents are used to contextualise, corroborate and augment the research. The research found that in addition to traditional strategic and financial criteria in terms of provisions of the operating environment and investment performance, behaviour-related factors such as interest in job security, recognition and comfort were also important to the investment decision in the sector. Investors' perceptions of the utility were also found to be a statistically significant determinant of investment. Besides emphasising the importance of creating a conducive environment for investment, the research highlighted a need to simultaneously focus on generating specific investment opportunities to build investor confidence. The most important consequence of small size to negatively impact on creating conducive conditions for investment was the effect of limited professional capacity on institutional arrangements in the sector. Accordingly, sharing professional expertise to address capacity constraints emerged as the most feasible opportunity for regional cooperation to improve the environment for private investment in the sector.

Social Impact Bonds (SIBs) have alternatively been portrayed as a promising tool to improve the functioning of welfare systems, or as an instrument of neoliberalism that threatens to undermine them. Recently, a more nuanced understanding of the promises as well as pitfalls of SIBs has developed, as both practical experiences and published empirical evidence about implemented SIBs have increased in number. We aim to contribute to the development of such an understanding by means of a combination of qualitative and quantitative text analysis. In doing so, we analyse a comprehensive sample of 51 practitioner reports on SIBs. We identify two key paradoxes of SIBs. These paradoxes centre on statements that cannot both hold true for the very same SIB: (1) flexible but evidence-based services and (2) cost-saving risk transfer to private investors. We conclude by discussing how those paradoxes have been resolved in existing SIBs so far, which strategies of de-paradoxification may turn out paramount in future, and how positive aspects of SIBs can be preserved while defusing their more problematic ones.

Целью работы является анализе и оценке значимых факторов развития частного инвестирования в инновационные проекты малого бизнеса. В работе предложен методический подход к анализу и оценке факторов частных инвестиций в инновационные проекты малого бизнеса, который позволяет разрабатывать меры, направленные на стимулирование роста частных инвестиций в инновационные проекты малого бизнеса. Также получена совокупность моделей, которые позволяют получать количественные оценки влияния экономических факторов на объем частного инвестирования в инновационные проекты малого бизнеса и строить прогнозы его развития. / The aim of the work is to analyze and evaluate significant factors in the development of private investment in innovative small business projects. The paper proposes a methodical approach to the analysis and evaluation of factors of private investment in innovative small business projects, which allows you to develop measures aimed at stimulating the growth of private investment in innovative small business projects. Also, a set of models that allow the aim is to obtain quantitative estimates of the impact of economic factors on the volume of private investment in innovative small business projects and to make forecasts of its development.

This paper explores private investments in public equity (PIPE) deals as a means of alternative firm financing. Poorly performing companies often look towards PIPEs to quickly raise capital when traditional means of financing are limited. This study provides an analysis on both the discount and premia that PIPEs are issued at, as well as the performance of firms after the deal announcement. Overall, this study finds that successful PIPEs from the investor’s perspective are issued at a discount of close to 17%, and unsuccessful PIPEs are issued at an average of a 15% premium. I find substantial cumulative abnormal returns of 9% over a three-day period due to positive information shocks. Overall, this thesis corroborates past research in the field.

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This article analyzes the need to adopt a strictly contractual vision of the concession contract, that limits the discretionary actions of the State, in order to allow legal framework permit the development of infraestructure for public use. / En el presente artículo se analiza la necesidad de adoptar una visión estrictamentecontractual del contrato de concesión, que limite las actuaciones discrecionales del Estado, a fin de que el marco legal aplicable permita el desarrollo de la infraestructura de uso público.

The present article seeks to show the aplication of the mutability principle in amendments on concession contracts that are made on the legal frame of public-private partnership, giving a doctrinaire vision and also the Peruvian normative treatment. / El presente artículo busca dar luces de la aplicación del principio de mutabilidad en la modificación de los contratos de concesión que se realizan bajo el marco jurídico de asociaciones público-privadas, dando una reflexión doctrinaria y su contraparte normativa en el sistema peruano.