Identifying Zimbabwean institutional investor's intentions to invest in ipps: evidence from the theory of planned behaviour
| dc.contributor.advisor | Alhassan, Latif | |
| dc.contributor.author | Ruwanika, Jonathan | |
| dc.date.accessioned | 2023-11-02T07:18:33Z | |
| dc.date.available | 2023-11-02T07:18:33Z | |
| dc.date.issued | 2022 | |
| dc.date.updated | 2023-11-02T07:15:18Z | |
| dc.description.abstract | There is a lack of capital to fund Zimbabwean energy infrastructure needs. An inability of Independent Power Producers (IPPs) that have obtained licenses to reach financial closure suggests a deficiency in Zimbabwe's long-term capital markets. This study proposes an innovative financing solution premised on Zimbabwean institutional investors. This study aims to examine the reasons for the lack of interest by institutional investors to invest in IPPs albeit appearing ideally suited to do so. The theory of planned behaviour was used as a theoretical framework to dissect factors that influence the intention to invest in IPPs and identify the determinants of the actual behaviour. Structural equation modelling was employed to analyse attitudes, subjective norms, and perceived behavioural control from a sample of 105 institutional investors in Zimbabwe. The findings suggests that attitude towards behaviour, subjective norms, and perceived behavioural control had a positive and significant influence on the intent by institutional investors to invest in IPPs in Zimbabwe. Perceived Behavioural Control had the most significant influence pointing to respondents' belief in Institutional investors' competency in investing in IPPs. Attitude Towards behaviour had the lowest influence meaning respondents were less confident in the fact that IPPs were good investments. However, there is a disconnect between the strong and positive intention to invest with the actual investment behaviour. The study concludes with an approach that the Zimbabwean government can take to address policy and provides recommendations for future research. This approach includes; mechanisms used to incentivize investment in energy infrastructure projects by local institutional investors, current tariff methodologies, and improving financial education about energy infrastructure as an asset class for local investors to improve investment attitudes | |
| dc.identifier.apacitation | Ruwanika, J. (2022). <i>Identifying Zimbabwean institutional investor's intentions to invest in ipps: evidence from the theory of planned behaviour</i>. (). ,Faculty of Commerce ,Graduate School of Business (GSB). Retrieved from http://hdl.handle.net/11427/39063 | en_ZA |
| dc.identifier.chicagocitation | Ruwanika, Jonathan. <i>"Identifying Zimbabwean institutional investor's intentions to invest in ipps: evidence from the theory of planned behaviour."</i> ., ,Faculty of Commerce ,Graduate School of Business (GSB), 2022. http://hdl.handle.net/11427/39063 | en_ZA |
| dc.identifier.citation | Ruwanika, J. 2022. Identifying Zimbabwean institutional investor's intentions to invest in ipps: evidence from the theory of planned behaviour. . ,Faculty of Commerce ,Graduate School of Business (GSB). http://hdl.handle.net/11427/39063 | en_ZA |
| dc.identifier.ris | TY - Thesis / Dissertation AU - Ruwanika, Jonathan AB - There is a lack of capital to fund Zimbabwean energy infrastructure needs. An inability of Independent Power Producers (IPPs) that have obtained licenses to reach financial closure suggests a deficiency in Zimbabwe's long-term capital markets. This study proposes an innovative financing solution premised on Zimbabwean institutional investors. This study aims to examine the reasons for the lack of interest by institutional investors to invest in IPPs albeit appearing ideally suited to do so. The theory of planned behaviour was used as a theoretical framework to dissect factors that influence the intention to invest in IPPs and identify the determinants of the actual behaviour. Structural equation modelling was employed to analyse attitudes, subjective norms, and perceived behavioural control from a sample of 105 institutional investors in Zimbabwe. The findings suggests that attitude towards behaviour, subjective norms, and perceived behavioural control had a positive and significant influence on the intent by institutional investors to invest in IPPs in Zimbabwe. Perceived Behavioural Control had the most significant influence pointing to respondents' belief in Institutional investors' competency in investing in IPPs. Attitude Towards behaviour had the lowest influence meaning respondents were less confident in the fact that IPPs were good investments. However, there is a disconnect between the strong and positive intention to invest with the actual investment behaviour. The study concludes with an approach that the Zimbabwean government can take to address policy and provides recommendations for future research. This approach includes; mechanisms used to incentivize investment in energy infrastructure projects by local institutional investors, current tariff methodologies, and improving financial education about energy infrastructure as an asset class for local investors to improve investment attitudes DA - 2022 DB - OpenUCT DP - University of Cape Town KW - development finance LK - https://open.uct.ac.za PY - 2022 T1 - Identifying Zimbabwean institutional investor's intentions to invest in ipps: evidence from the theory of planned behaviour TI - Identifying Zimbabwean institutional investor's intentions to invest in ipps: evidence from the theory of planned behaviour UR - http://hdl.handle.net/11427/39063 ER - | en_ZA |
| dc.identifier.uri | http://hdl.handle.net/11427/39063 | |
| dc.identifier.vancouvercitation | Ruwanika J. Identifying Zimbabwean institutional investor's intentions to invest in ipps: evidence from the theory of planned behaviour. []. ,Faculty of Commerce ,Graduate School of Business (GSB), 2022 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/39063 | en_ZA |
| dc.language.rfc3066 | Eng | |
| dc.publisher.department | Graduate School of Business (GSB) | |
| dc.publisher.faculty | Faculty of Commerce | |
| dc.subject | development finance | |
| dc.title | Identifying Zimbabwean institutional investor's intentions to invest in ipps: evidence from the theory of planned behaviour | |
| dc.type | Thesis / Dissertation | |
| dc.type.qualificationlevel | Masters | |
| dc.type.qualificationlevel | MCOM |