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The Influence of Uncertainty on the Investment Activity of Companies in St.Petersburg and Leningrad Region

Student: Anna Zubova

Supervisor: Ivan V. Rozmainsky

Faculty: St.Petersburg School of Economics and Management

Educational Programme: Economics (Bachelor)

Year of Graduation: 2018

The main purpose of the work "The Impact of uncertainty on the investment activity of companies of St. Petersburg and the Leningrad region" is to analyze the impact of uncertainty on investment activities. The relevance of this study is that the lack of sufficient research, as well as the lack of methodologies, make the task of management extremely uncertain in conditions of uncertainty. In addition, the hypothesis is that investment activity depends on uncertainty can reveal the reasons for the decline in investment. This is quite an important problem, as it can lead, in particular, to the crisis. In the course of the study, sources were identified that give rise to uncertainty. All of them are related to information (lack, incompleteness, absence). Based on sources, factors that form uncertainty were identified. To conduct the analysis, a survey of entrepreneurs was conducted, during which a sample of 406 elements was formed. In the course of the statistical analysis it was found out that entrepreneurs feel uncertainty in the process of economic activity, and also prefer not to invest in long-term projects. This is caused by investor’s myopia. In the course of the regression analysis with the help of OLS, four variables were identified that affect the investment: the duration of the firm's activity, the sense of uncertainty, the firm's profit and the period of obtaining the return on investment. The model is explained by independent variables by more than 70%.

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