000			03903nam a22003497a 4500
003			KOHA
005			20231106095912.0
008			231106d2023 cy ||||| m||| 00| 0 eng d
040			_aCY-NiCIU _beng _cCY-NiCIU _erda
041			_aeng
090			_aYL 3123 _bO94 2023
100	1		_aOyewande, Toyin
245	1	4	_aTHE IMPACT OF ECONOMIC UNCERTAINTY ON CORPORATE INVESTMENT IN AFRICA / _cTOYIN OYEWANDE; SUPERVISOR: ASSOC. PROF. DR. ASIL AZIMLI
264			_c2023
300			_aviii, 63 sheets; _c31 cm _e1 CD-ROM
336			_2rdacontent _atext _btxt
337			_2rdamedia _aunmediated _bn
338			_2rdacarrier _avolume _bnc
502			_aThesis (MSc) - Cyprus International University. Institute of Graduate Studies and Research Accounting and Finance Department
504			_aIncludes bibliography (sheets 55-63)
520			_aABSTRACT The level of uncertainty in African country economies has been a matter of concern in the market and business world. Most countries and firms report the detrimental effect of uncertainty on their investment, employment, and business decisions. Some firms and countries consider the option to wait when there is a high uncertainty rate and restrategize on the best option and time to make investments. This challenge has become a norm in most economies and has been ascertained by different scholars. These scholars found that uncertainty possesses a detrimental effect on investments and investment decisions both domestic and foreign. To add to this body of knowledge, this study conducted research to ascertain the impact of economic uncertainty on corporate investments in Africa. The study also aims to find out how inflation rate and GDP per capita moderates the relationship amongst economic uncertainty and corporate investment. The study used economic uncertainty (calculated by the annual % GDP growth rate) as the independent variable and corporate investment (measured by the gross fixed capital formation – %GDP and LOG_CAP) as the dependent variable. The control variables were inflation rate and GDP per capita of each of the sample countries. Data was collected using secondary source, using the WUI (created by Ahir et al., 2018) of 2 African countries (Nigeria and South Africa). The study also collected the financial report of 269 firms within the period 2003 to 2021 as a sample, the study conducted a panel data regression analysis with fixed effect model to measure the relationship between the variables. Findings from the panel data regression result revealed that inflation rate and GDP per capita are negative moderators of the connection amongst dependent and the independent variable. The study generally found that economic uncertainty has a negative impact on corporate investments. It was concluded based on results and reviewed literatures that when there is high inflation rate, political uncertainty, economic policy uncertainty, exchange rate uncertainty, the investment decisions are affected thereby discouraging investors from making any future investment. From findings, the study recommended that investors should wait and study the trend of uncertainty to make proper investment decisions. Keywords: Africa, Corporate Investment, Economic Uncertainty, Exchange Rate, Inflation, Macroeconomics, Political Uncertainty, Uncertainty Shock, Unemployment
650		0	_aInvestments _vDissertations, Academic
650		0	_aUncertainty _vDissertations, Academic
650		0	_aExchange _vDissertations, Academic
650		0	_aInflation (Finance) _vDissertations, Academic
650		0	_aMacroeconomics _vDissertations, Academic
650		0	_aUncertainty _vDissertations, Academic
650		0	_aUnemployment _vDissertations, Academic
700	1		_aAzimli, Asil _esupervisor
942			_2ddc _cTS
999			_c291654 _d291654