Investment Behaviour of Nigerian Proposal

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1.1 Introduction
1.2 Literature Review
1.3 Statement of the Research Problem
1.4 Objectives of the Study
1.5 Scope of the Study
1.6 Significance of the Study
1.7 Hypothesis
1.8 Research Design
1.9 Sample and Sampling Techniques
2.0 Reference List

1.1 Introduction
Investment choice is often wide and as varied as the different strata of society itself. It ranges from short term to long term. It may be low risk and therefore have lower returns or carry higher risk and therefore higher returns. The issue of what constitutes a fruitful or profitable investment is therefore relative and often time subjective. However differences in personality traits and the concomitant interface with the nature of employment, environmental and situational factors along with quality and value of disposable income combine to influence or predispose an investor to make and sustain one investment choice or the other. Given the foregoing, this study is an attempt to profile the investment behavior of workers in public and private sector enterprises in Nigeria. 1.2 Literature Review

It is usual for a prudent investor to wish to know if a choice of investment can really take-off, be sustained throughout the projected period and whether it would be profitable. The investor would like to be informed about the likely constraints and general obstacles that would militate against the success of the project and the possible ways of circumventing the obstacles. In short, the investor wants to know the practicability and the profitability of the investment proposal. Accordingly, this definite purpose forms the basis for decision making in investments. Basically, it would suffice to say that the term investment arouses different meanings depending on the context within which it is discussed. The term “capital or investment” has several connotations. As a factor of production in the economic sense, capital connotes the resource at the disposal of an individual or enterprise with which it operates and interacts with other factors such as land, labour and entrepreneurship. It earns a return known as interest. Okafor (1983:59) contributes that an investment is an input meant to enhance the productivity of an existing stock of capital. However, Anyanwu and Oaikhenan (1995) assert that investment is simply the second component of the Keynesian Model of Income determination. All preceding definitions of investment seem to have been given purely from an economic point of view. From the accounting view point, capital denotes all available resources of the enterprise. It includes the lands as well as the wages used to pay labour (both of which are distinguished by economist as distinct factors of production). It also means capital investments which have great implications for returns both in the short-run and the long-run (Glautier, 1992). Van Home (1990) describes investment as a situation “when firms make current cash outlay for the benefit to be realized in the future”. Pandey (2004) defines capital investment as decision to invest a firm’s current fund in the most efficient way in long term activities, in anticipation of an expected flow of future benefits over a series of years. The accounting concept of capital dichotomizes it into two types – equity capital and debt capital. While equity capital relates to those resources provided by the entrepreneur or shareholders who are owners of the firm, the debt capital refers to those resources available to the firm for use, which are repayable to the providers at a specified future date with interest. In the language of finance, Osaze and Anao, (1999) posits that, investment simply means the use of funds for projects whose economic life extends beyond two or more years (but from an accounting standpoint, investment does not necessarily mean long-term anticipation of returns on capital finance). Irrespective...
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