The Determinants of Portfolio Investment in Zimbabwe from 1994 to 2003
School of Business and Management Sciences
Department of Financial Engineering
Research Title:
The determinants of Portfolio investment in Zimbabwe from 1994 to 2003
Contents chapter 1 7
1.0 INTRODUCTION………………………………………………………………………...………………….7 1.1Background 8 1.3 Problem statement 10 1.4 Research objectives 10 1.5 Research questions 10 1.6 Research hypothesis 11 1.7 Significance of the research 11 1.8 Scope of the research 12 1.9 Assumptions of the research 12 1.10 Limitations of the study 12 1.11 Delimitation of the study 12 Chapter 2 13 2 Literature review 13 2.1Theoretical evidence on the determinants of portfolio investment 16 2.2 Empirical evidence on the determinants of portfolio flows 16 CHAPTER 3…………………………………………………………………………………………………………………………………21
3.0 INTRODUCTION……………………………………………………………………………………………………………………..21
3.1 RESEARCH DESIGN…………………………………………………………………………………………………………………21
3.2 RESEARCH METHODOLOGY……………………………………………………………………………………………………23
3.3 MEASUREMENT………………………………………………………………………………………………………………….…24
3.4 DATA COLLECTION METHODS………………………………………………………………………………………………..26
3.5 DATA PRESENTATION AND ANALYSIS…………………………………………………………………………………….27
3.5.1 DIAGNOSTIC TESTS……………………………………………………………………………………… …………… …… 27
3.5.2 MULTICOLLINEARITY………………………………………………………………………………………………………… .29
3.5.3 GENERAL MODEL STUDY………………………………………………………………………………………………… …29
3.5.4 T-STATISTICS……………………………………………………………………………………………………………………….30
3.5.5 R-SQUARED……………………………………………………………………………………………………………………… 30
3.5.6 ADJUSTED R-SQUARED…………………………………………………………………………. ……….. ……………….30
CHAPTER 4……………………………………………………………………………………………………………. ………………….31
4.0 INTODUCTION…………………………………………………………………………………………………………………… …31
4.1 STATIONARITY TESTS …………………………………………………………………………………………………………….31
4.2 MULTI-COLLINEARITY TESTS……………………………………………………………………………………………… …33
4.3 REGRESSION RESULTS…………………………………………………………………………………………………………… 34
4.4 INTERPRETATION OF
Department of Financial Engineering
Research Title:
The determinants of Portfolio investment in Zimbabwe from 1994 to 2003
Contents chapter 1 7
1.0 INTRODUCTION………………………………………………………………………...………………….7 1.1Background 8 1.3 Problem statement 10 1.4 Research objectives 10 1.5 Research questions 10 1.6 Research hypothesis 11 1.7 Significance of the research 11 1.8 Scope of the research 12 1.9 Assumptions of the research 12 1.10 Limitations of the study 12 1.11 Delimitation of the study 12 Chapter 2 13 2 Literature review 13 2.1Theoretical evidence on the determinants of portfolio investment 16 2.2 Empirical evidence on the determinants of portfolio flows 16 CHAPTER 3…………………………………………………………………………………………………………………………………21
3.0 INTRODUCTION……………………………………………………………………………………………………………………..21
3.1 RESEARCH DESIGN…………………………………………………………………………………………………………………21
3.2 RESEARCH METHODOLOGY……………………………………………………………………………………………………23
3.3 MEASUREMENT………………………………………………………………………………………………………………….…24
3.4 DATA COLLECTION METHODS………………………………………………………………………………………………..26
3.5 DATA PRESENTATION AND ANALYSIS…………………………………………………………………………………….27
3.5.1 DIAGNOSTIC TESTS……………………………………………………………………………………… …………… …… 27
3.5.2 MULTICOLLINEARITY………………………………………………………………………………………………………… .29
3.5.3 GENERAL MODEL STUDY………………………………………………………………………………………………… …29
3.5.4 T-STATISTICS……………………………………………………………………………………………………………………….30
3.5.5 R-SQUARED……………………………………………………………………………………………………………………… 30
3.5.6 ADJUSTED R-SQUARED…………………………………………………………………………. ……….. ……………….30
CHAPTER 4……………………………………………………………………………………………………………. ………………….31
4.0 INTODUCTION…………………………………………………………………………………………………………………… …31
4.1 STATIONARITY TESTS …………………………………………………………………………………………………………….31
4.2 MULTI-COLLINEARITY TESTS……………………………………………………………………………………………… …33
4.3 REGRESSION RESULTS…………………………………………………………………………………………………………… 34
4.4 INTERPRETATION OF
References: Determinants of portfolio investment in Zimbabwe. (From 1993 to 2004) 1.0 Introduction According to literature, Christian Wildmann (2010), the various possible determinants of portfolio investments are: * Macroeconomic variables which are political risk, tax rates, inflation, real GDP growth rates, interest rates and exchange rate risk.