FINANCIAL LITERACY PLANNING AS CORRELATES OF BUSINESS EDUCATION STUDENTS INVESTMENT DECISIONS IN SOUTH-SOUTH, NIGERIA

Chidinma Helen Okocha, A. N. Umezulike, PhD, C. S. Oguejiofor, PhD

Abstract


This study investigated financial literacy planning, as correlates of business education students' investment decisions in South-South, Nigeria. The study was motivated by concerns over students' poor investment behaviour despite their exposure to business and financial education. Two research questions and two null hypotheses guided the study. A correlational research design was adopted. The population comprised 1,610 third-year Business Education students in 23 public tertiary institutions in South-South Nigeria, from which a sample of 310 students was selected using the Krejcie and Morgan sample size table. A total of 301 correctly completed questionnaires were retrieved and used for analysis. Data were collected using two structured questionnaires validated by 3 experts, while the reliability of the instruments was established using Cronbach Alpha coefficients which yielded 0.81- 0.86 respectively. Data were analysed using Pearson Product Moment Correlation (PPMC) at the 0.05 level of significance. The findings revealed a high positive and significant relationship between financial planning and students' investment decisions (r = 0.727, p < 0.05) financial literacy. The study concluded that financial planning and financial literacy, are significant predictors of business education students' investment decisions in South-South, Nigeria. It was recommended, that Business Education curricula should incorporate practical financial planning and investment education, while lecturers should promote financial literacy through practical financial management activities to improve students' investment decision-making.


Keywords


Financial planning, financial literacy, investment decisions, Business Education

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