i took in international business course last fall management thirty forty

and there were two subjects f on extremely interesting first was project finance in the

second was political business cycle theory my research kind of questions something from that was

how do developing democratic collections affect project finance capital structure

first off i review a lot of the literature surrounding project finance what it is

how it's been studied throughout history that i looked at vertical business cycle theory to

really understand that the two threes that underlie which is opportunistic and part of simple

is a political businesslike theory

someone about looking at the two political "'cause" the psycho theories and use that and

a series of macroeconomic institutional and project specific controls to really assess the impact of

elections on the capital structure my research supervisor is actually my professed if not enough

some of this class paul weller

and he is done extensive research on the subject of both project finance employed a

cup as a cycle theory

but really never together and he was there to guide me through how to how

to create this study the actually measured but we we're trying to seek hypothesis was

elections in general increase investment risk in therefore increased amount of equity that has to

be provided by multinational corporations and found this to be statistically significant where

about a foreigner have percent increase in fact what he was necessary for products during

election years and this is big because that can change the timing of the size

the project that they want undertaken these developing democracies they're really trying to garner for

direct investment

and then on the other side with part of sandwiches looking at how political parties

of the incumbent presidential candidate it played a role

i did not find

significant support for my hypotheses by did find some interesting aspects where it seems the

left wing

incumbents side increase investment risk as opposed to with the right wing

but it will

really be interesting to see future research done on partisanship

there's not really