EFFECT OF FINANCIAL STATEMENT INFORMATION IN MAKING INVESTMENT DECISION
Abstract
ABSTRACT
This study investigated the of effect financial statements in investment decision making: a case of First Bank Nig. Plc. This study used primary and secondary data from ten years financial statements of the bank. Descriptive statistics and percentage analysis was used for the presentation of the data collected via survey method;. Chi-square statistical method was adopted to test the hypotheses. The result of the analysis revealed that, the transparency of financial statements of the bank has significant influence on investment decisions. The results of the analysis also indicated that investors depend heavily on credibility of auditors/financial expert approval of financial statement in making investment decisions and as such published financial statement is very important to investors’ decision making. We therefore, recommend that adequate care and due diligence should be maintained in preparation of financial statements to avoid faulty investment decisions which could lead to loss of funds and possible litigations.
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