| 0:00:08 | i took in international business course last fall management thirty forty |
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| 0:00:13 | and there were two subjects f on extremely interesting first was project finance in the |
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| 0:00:18 | second was political business cycle theory my research kind of questions something from that was |
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| 0:00:23 | how do developing democratic collections affect project finance capital structure |
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| 0:00:28 | first off i review a lot of the literature surrounding project finance what it is |
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| 0:00:33 | how it's been studied throughout history that i looked at vertical business cycle theory to |
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| 0:00:38 | really understand that the two threes that underlie which is opportunistic and part of simple |
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| 0:00:44 | is a political businesslike theory |
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| 0:00:46 | someone about looking at the two political "'cause" the psycho theories and use that and |
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| 0:00:50 | a series of macroeconomic institutional and project specific controls to really assess the impact of |
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| 0:00:58 | elections on the capital structure my research supervisor is actually my professed if not enough |
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| 0:01:03 | some of this class paul weller |
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| 0:01:04 | and he is done extensive research on the subject of both project finance employed a |
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| 0:01:09 | cup as a cycle theory |
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| 0:01:10 | but really never together and he was there to guide me through how to how |
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| 0:01:14 | to create this study the actually measured but we we're trying to seek hypothesis was |
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| 0:01:21 | elections in general increase investment risk in therefore increased amount of equity that has to |
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| 0:01:27 | be provided by multinational corporations and found this to be statistically significant where |
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| 0:01:32 | about a foreigner have percent increase in fact what he was necessary for products during |
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| 0:01:37 | election years and this is big because that can change the timing of the size |
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| 0:01:41 | the project that they want undertaken these developing democracies they're really trying to garner for |
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| 0:01:45 | direct investment |
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| 0:01:47 | and then on the other side with part of sandwiches looking at how political parties |
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| 0:01:51 | of the incumbent presidential candidate it played a role |
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| 0:01:56 | i did not find |
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| 0:01:58 | significant support for my hypotheses by did find some interesting aspects where it seems the |
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| 0:02:04 | left wing |
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| 0:02:05 | incumbents side increase investment risk as opposed to with the right wing |
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| 0:02:10 | but it will |
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| 0:02:12 | really be interesting to see future research done on partisanship |
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| 0:02:16 | there's not really |
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