Financial Statements Content and Investment Decisions-A study of Selected Firms

This work empirically investigates the effect of information content of financial statements on shareholders’ investment decisions. The study is vital as it portrays the extent to which shareholders of firms listed on the Nigerian Stock Exchanged (NSE) are influenced by the contents of published accounts in their investment decisions.In order to determine the relationship between information contents of financial statements and shareholders’ investment decisions, some of the key contents of financial statement were used to derive theproxy variables used in thestudy, namely profitability, dividend per share, earnings per share, leverage, and liquidity; while shareholders’ investment decisions is represented by change in number of shares. Data for the study were obtained from the published annual financial report of the selected firms. Regression model was employed to establish the relationship between the variables.The findings generally indicate that shareholders in the Nigerian capital market do not rely much on financial statements as a major determining factor for their investment decisions. It was observed that other factors or variables outside firms’ annual reports such as regularity of dividend payment and market price of shares are vital to shareholderstheir investment decisions. The study recommends proper awareness creation by the appropriate agencies to enhance shareholders’ understanding of the relevance of published accounts to enable them to know the financial states of the companies of their interest before making investment decisions. Besides, shareholdersshould seek the advice of financial analysts so as to be properly guided in their investment decisions.Keywords:Financial statements, shareholders, investments, published account

Improving Livestock Production Through Alley Farming Practice In Anambra State

Alley Farming is a system where food crops are planted in the alleys between hedgerows of leguminous trees. An appraisal study was undertaken to review the importance and need to combine alley farming with livestock production in fragile soil of Anambra State using structured questionnaire and oral interview method. Results showed that the system offered a means of integrating livestock with crop production. When practiced on sloppy lands, the trees help to check erosion and conserve the soil. The trees chosen for the system were capable of maintaining and improving soil fertility, remain productive under pruning, allow improved crop production and provide nutritious and palatable livestock feed. Leucaena Leucocephala (Leucenia), Cajanus Cajan (pigeon pea), Diallium guineense (Icheku) found to be most suitable under Anambra environment. The system was found to have increased crop yield and animal productivity in the area of study. It is therefore recommended to cash-strapped poor farmers and government agencies in Anambra state. Journal of Research in National Development Vol. 4 (1) 2006: pp. 35-3

Impact Of Land Degradation On Farming Communities In Ughelli North Local Government Area Of Delta State

The study was conducted to access the impact of land degradation on farming communities in Ughelli north Local Government Area of Delta state. Results of data analysis using descriptive statistics and multiple regression showed that land acquisition was largely through inheritance (51.5%) followed by lease (27.9%) and outright purchase (20.6%). A range of 1 -4 hectares of land belonged to 58.2% of the farmers, 11.4% owned above 6 hectares and 24.1% below 1 hectare. Low farm income was traced to land degradation activities of oil spillage, oil exploration, erosion devastation and construction works. Some farmers who practiced continous cropping had their income because they properly used fertilizers, lime and adopted anti-land degradation measures. It is recommended that farmers should adopt intensive farming systems as found in mixed cropping, livestock and fishries using modern techniques. Government should prevail on oil companies to pay compensation for farm lands lost to oil spillage and exploration in addition to enforcing mopping up of the spills. Proper implementation of the land use Act of 1978 should serve as guide against indiscriminate use of land that lead to land degradation and low income. JORIND Vol. 4 (2) 2006: pp. 133-13