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A PROJECT REPORT ON A STUDY OF SURVEY OF TEN SHARE HOLDERS REGARDING UTILITY OFPUBLISHED ANNUAL REPORTSSUBMITTED BY VINAYAK PRAKASH PAWAR M. COM -II ROLL NO.8915 UNDER THE GUIDANCE OFDr. CHHAYA ABNAVE IN PARTIAL FULFILLMENT OF THE MASTER DEGREE OF COMMERCE TO THE UNIVERSITY OF PUNE THROUGH DEPT. OF COMMERCE SIR PARASHURAMBHAU COLLEGE OF ARTS, SCIENCE & COMMERCE TILAK ROAD, PUNE -411030

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2008-09S.P.MANDALI'S SIR PARASHURAMBHAU COLLEGE OF ARTS, SCIENCE & COMMERCE TILAK ROAD, PUNE -411030

CERTIFICATEDate13/04/09

This is to certify that Mr. Vinayak Prakash Pawar. A student of M.com-II has completed his project work titled as

SURVEY OF TEN SHARE HOLDERS REGARDING UTILITY OF PUBLISHED ANNUAL REPORTSA study has been completed as a part of requirement of the Pune university syllabus for the course. The work has been completed under my guidance & supervision.His work was found to be satisfactory & complete in all aspects.

DR. CHHAYA ABNAVE

PROF. ULHAS

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KIWALKAR (Project guide) principal)

(Vice

Internal Examiner Examiner

External

CERTIFICATE(To whom it may concern) This is to certify that Mr. vinayak prakash pawar, a student of M. com II course visited to milind sangoram (C.A. tax consultant) on 2nd sept 2009 in connection with his project on a survey of ten shareholders regarding utility of published annual reports and collected necessary information. During his project period his work and conduct found to be satisfactory. Wishing his all success

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Milind sangoram

ACKNOWLED GMENTI have felling of satisfaction because I could complete my project work successfully .But there are many people behind this success. I want to say thanks to allpeople. First, I want to say thanks to my vice principal prof. ulhas.n. kiwalkar and project guide Dr. chhaya abnave for giving me valuable time and supervisor'sexpertise. Only because of guidance given by

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Dr.chhaya abnave I could complete my project work. At any time my project guidewas ready to solve any query. Project guide gave me proper direction for completing project. I want to say thanks to Mr.milind sangoram [C.A] despite of his busy schedule he gave me proper direction for analyzing data. I am thankful to allmy respondents for providing me valuable, reliable, neat data, with the help ofdata provided by them I could complete my project work. I want to say thanks myfamily member for their active participation and financial help due to that onlyI could complete my project work. Last but not least I want to thanks sagar printer's for providing excellent and timely service relating to project typing and binding.

Vinayak parkask pawar

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INDEXSR.NO 1. CONTENTS INTRODUCTION - Introduction - Aims and Objectives - Justification of selection - Assumptions - Limitations - Definitions - Hypothesis - Organization of study REVIEW OF RELATED LITERATURE PAGE NO.

2. 3. 4.

.

ANALYSIS OF DATA - Analysis and interpretation of common shareholders [Group A]-Analysis and interpretation of experts/ Professional shareholders[Group B] 5 RESULTS -Findings -Hypothesis testing -Recommendations -Scope for further study 6BIBLIOGRAPHY 7 APPENDIX

. .

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RESULTS1) Findings 2) Hypothesis testing 3) Recommendations 4) Scope for further study

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FINDINGSOn the basis of analysis & interpretation researcher is in a position in pointing out important findings. FINDING OF GROUP A (NONPROFESSIONAL) 1)20% Shareholderare reading Annual report. 2)100% Shareholder are unawares about contents of annual report. 3No one is interested in attending annual general meeting. 4All shareholders are interested in only higher return on investment. 5 Shareholder arenot taking personal participating in investing procedure, all are depends upon share broker.

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FINDINGS OF GROUP B (PROFESSIONALS) 1)60% of Share Holder is reading annual report. 2)100%of Share Holder is aware of contents in annual report. 3)40% Share Holder are not interested in attending annual general meeting. 4) All share holderinterested in appreciation of capital. 5) All shareholders taking personal participation in investment procedure. Though all shareholders invest their money with the help of share broker, some time they are advising there friend in investment decision. HYPOTHESIS TESTING A research study may not be treated as completeunless hypothesis is put to test with known statistical producer & such test arecarried testing hypothesis is an essential part of study because it

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unable researcher to confidently examine the accuracy of their results. TESTINGTECHNIQUES Mathematical, experimental, electronic, verification In this projectresearcher has tested his hypothesis using by verification technique. HYPOTHESISTESTING 1)Common shareholders are interested in contents of annual report. Thishypotheses is rejected Because 80% common share holders are not reading annualreport. So they are not aware of content of it.

2)Common shareholders are taking part in important affairs of company. This hypothesis is rejected Because 100% common shareholders are not attending annual general meeting & they are not interested in appointment of director's

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remuneration given to the auditors & directors. 3)Common shareholders have utility of published annual report. This hypothesis is rejected Because 80% common shareholders are not reading & aware of annual reports. EXPERT/PROFESSIONALS 1) Anexpert / professional shareholder are interested in content of annual report. This hypothesis is accepted. Because 100% share holders who are expert/ professional are reading annual report and know the content of annual reports. 2) Expert/ professional shareholders have utility of published annual report. This is accepted. Because 100% shareholders reading annual reports & aware about contents 3) Expert is taking part in important affairs of company. This hypothesis is rejected Because 60% shareholder are not attending annual general meeting and not interested in appointment

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and remuneration given to auditor ,directors. RECOMMENDATION Research recommendation 1) For increasing reliability of finding more then 10 share holders shouldbe surveyed. 2) Time period for completion of project work should be more. 3) University should provide more subjects for selection. 4) Stock exchange should arrange programmed for creating awareness within common shareholder. 5) Practicalknowledge relating share should be provided to student at under graduation level. CONCLUSION 1) Common shareholder is unaware about usefulness of annual report.

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2) Common shareholders are not taking personal participation in investment procedure. 3) Expert / professionals have the utility of published annual reports. 4)Irrespective of category of shareholder, all shareholders are not interested inimportant affairs of the company. SCOPE FOR FURTHER STUDY Research is never ending activity .In any branch & it s sub-branch of knowledge carrying out researchis possible .an individual can never cover all aspect of research in his selected subject of research due to various limitation. In some way there is ample scope for research in present subject selected for project work .scope of further study is pointed out. 1) Survey of 10 shareholders relating further opportunity available for making investment in company. 2) Survey of 10 shareholders regarding importance of annual general meeting & working of annual general meeting.

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3) Survey of 10 shareholders relating comparative study of performance of different companies in which they have invested money. 4) Survey of 10 preference shareholders regarding utility of published annual report of company. 5) Survey of 10 creditors regarding utility of published annual report of company. 6) Survey of 10 financial institution regarding utility of published annual report of company. 7) Survey of 10 debenture holder regarding utility of published annual report of companies.

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RESEARCH DESIGN Research design in simple words is plan of action ,A plan for collecting & analysing data in efficient ,economical & relevance manner .The purpose of preparing research design either to test a hypothesis or to establish relationship between two or more variables .If refers to the Methodology used for conducting the research . Research design indirectly makes it clear what observerhas to make? How to make them? And to analyse them? DEFINATION research design isthe catalogue of the various & facts relating to fermolation of the research efferts. research design is a process deliberate anticipation directed towards beginning an unexpected situation

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under control. Contents of research design 1) Title of investigation 2) Purpose of study 3) Critical of previous study 4) Survey & review of related literature 5) Statement of problem 6) Scope of research 7) Object of investigation 8) Indentification of variable 9) Formulation of hypothesis 10)Sampling 11)Data collection 12) Data processing 13) Analysis of defect 14) Drawing conclusion 15) Recommentaion 16) Summery of reports IMPORTANCE OF RESEARCH DESIGN 1)If help the investigation to obtain answer of question related to research . 12) If help researcherto control error of the particular problem under study . 3) If help in drawingpossible conclusion from statically analysis .

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4) It enables investigator in anticipation likely problem . 5) It provide rightdirection to investigation 6) It help in minimizing wastage of time & money . 7)It helps to achieve optimum reliability. There are four types of search design. 1) Explorating or formative research design This type of research design is used when there is no sufficient information available about to the subject understudy. 2) Descriptive Research Design The purpose of descriptive study is to describe accurately the characteristics of group, community or people. 3) Diagnosing Research Design This is concerned with testing of hypothesis & specifying interpretaory relationship of the variable

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ACKNOWLEDGMENTI have felling of satisfaction because I could complete my project work successfully .But there are many people behind this success.

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I want to say thanks to all people. First, I want to say thanks to my vice principal prof. ulhas.n. kiwalkar and project guide Dr. chhaya abnave for giving me valuable time and supervisor's expertise. Only because of guidance given by Dr.chhaya abnave I could complete my project work. At any time my project guide was ready to solve any query. Project guide gave me proper direction for completing project. I want to say thanks to Mr.milind sangoram [C.A] despite of his busy schedule he gave me proper direction for analyzing data. I am thankful to all my respondents for providing me valuable, reliable, neat data, with the help of data provided by them I could complete my project work. I want to say thanks my familymember for their active participation and financial help due to that only I could complete my project work. Last but not least I want to thanks sagar printer's for providing excellent and timely service relating to project typing and binding.

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Vinayak prakash pawar

CERTIFICATE(To whom it may concern) This is to certify that Mr. vinayak prakash pawar, a student of M. com II course visited to milind sangoram (C.A. tax consultant) on 2nd sept 2009 in connection with his project on a survey of ten shareholders regarding utility of published annual reports and collected necessary information. During his project period his work and conduct found to be satisfactory. Wishing his all success

Milind sangoram

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SR.NO 1.

CONTENTS INTRODUCTION - Introduction - Aims and Objectives - Justification of selection - Assumptions - Limitations - Definitions - Hypothesis - Organization ofstudy REVIEW OF RELATED LITERATURE RESEARCH DESIGN - Sample selection - Data collection - Administration of instrument used ANALYSIS OF DATA - Analysis and interpretation of common shareholders [Group A] -Analysis and interpretation of experts/ Professional shareholders[Group B] 5 RESULTS -Findings -Hypothesis testing-Recommendations -Scope for further study 6 BIBLIOGRAPHY 7 APPENDIX

PAGE NO.

2. 3.

4.

.

. .

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INDEXIMPORTANT (MAIN TYPES OF SAMPLING) PROBABILITY SAMPLING In this sampling it is possible to state in advance the probability that any given unit will be includedin the sample. In this method this size of universe must be known to researcher.Important sub types of probability samplings are, 1) simple random sampling 2)cluster sampling NON-PROBABILITY SAMPLING In this sampling there is no assurance that each element has some specifiable chance of being included. Important andfrequently used sub-types of nonprobability sampling are 1) Purpose sampling 2)Quota sampling 3) Convenience sampling In this project work researcher has selected samples by using convenience method of sampling.

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CONVENIENCE METHOD In such sampling researcher selects respondents or cases thatare easily accessible to researcher .this method of sampling is quick and economical. 30 SAMPLE Sample means a portion selected from population of specimen. Population means those people or things with the characteristics which researcherwants to study. In this project all shareholder population but due to limited time and convenience researcher has selected ten shareholder .ten shareholder aresample for project work .the selection of sample is done according to some scientific rule and not according to rule of thumb, sampling units are such units ormember which constitute population .elements or objects to be sampled are calledas sampling unit. In this project ten shareholder are sampling units. Researcher has made two categories of sampling units, i.e. ten shareholders. Category A common shareholder Category B expert/ professional shareholder Each category includes five shareholders these

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categories are made to find out whether the attitude of shareholder changes towards annual report because of having knowledge of commerce and share market. After selecting the sample data which is required for project work was collected from them. DATA COLLECTION Data means facts, data are those things which are certainly known and from which conclusion may be drawn. Collection of data is an essential part of research .the task of the study and the research design has been decided .in order to measure properties a researcher must collect the units of analysis. The units of analysis so collected for observations and stud are known asthe research data, there are two types of data following chart shows type of data and methods of collection of data 0100090000037800000002001c00000000000400000003010800050000000b0200000000050000000c02 3c0f900f040000002e0118001c000000fb021000070 000000000bc02000000000102022253797374656d0

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32 SECONDARY DATA The secondary data are those which have already been collectedby some agency and which have already been proceed .secondary data are information which has been collected by same organization to satisfy its own need but itis used by the department under reference for an entirely different reason ,secondary data either be published or unpublished. But secondary data related to his subject is not available so secondary data is not collected. PRIMARY DATA These data are collected for first time, such data is fresh and original in character .such data are

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published by authorities who themselves are responsible for their collection. METHOD OF COLLECTION OF PRIMARY DATA 1) OBSERVATION METHOD In this method the investigator collect the requisite information personally through observation .thisis most primitive technique .data collected by this method is fair reliable andvalid . 2) INTERVIEW METHOD It means meeting for discussion or conference between researcher and sample selected .the important objective of this method is to collect information about unknown facts through face to face contact. 3) CASE STUDY METHOD It is method of comprehensive study of social units .the purpose of this method is to find out the determinants of behaviors pattern of given units survey method. It means taking general view of specific objectives for specific purpose survey method deals with a

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representative sample of population. It seeks responses from the respondents. Types of survey 1) primary survey 2) personal survey 3) official survey 4) repetitive survey 5) secondary survey 6) regular survey 7) non official survey 8) comprehensive survey Advantages of survey method 1) it help to study the problem deeply 2) it is considerably free from subject and bias 3) information collected through survey method is reliable 4) it is helpful in comparative study 4) QUESTIONNAIRES METHOD In this method information is collected with the help of questionnaires which is prepared exclusively for the specific purpose. Questionnaires consist of number of question printed in definite order. The question should be

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accurate and clearly understood by the respondents so that the responses are accurate. VARIOUS TYPES OF QUESTIONNAIRES 1) Structured questionnaires It is pre determined for specific purpose .question in it are definite and concrete questionare presented with exactly the same wording and in the same order to all respondents .it is prepared in advance and not on the spot during questioning method.2) unstructured questionnaires It contents a set of question which aren't structure in advance question in it permit a free response from respondents. 3) open endquestion it is used when attempts are made to search out new facts . In this respondents can write descriptive essay to express his view. 4) close end questionit is used when categorized data are required .here, the respondent has to choose the answer from set of given answer. Researcher has adopted survey method

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with the help of questionnaires for collecting data which is required for analysis. ADMINISTRATION OF INSTRUMENT USED RESEARCHER HAS made structured question with the help of project guide there are 23 question and question is divided into2 parts .1 part includes general question which helpful in collecting information regarding profile of shareholder. Second part included question which are required for collecting actual information required for project work. There are 15 question in second part of questionnaire .out of 15 question 4 question are openend question and remaining are closed end out of 11 question 3 question are binary question and 8 question are multiple choice question. Out of8 multiple question, 1 question is 5point question and remaining 7question are 3point question. This questionnaire is given to each respondent through personal visit. Time period of 8 days was given to each respondent for completing the question. All respondents gave question with in prescribe time limit. In this way researcher kept

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information collected through all respondents ready for further analysis and interpretation.

RESEARCH DESIGN

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- Sample selection - Data collection -Administration of instrument used

ANALYSIS OF

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DATA-Analysis and interpretation of common shareholders (Group A) -Analysis and interpretation of experts/ professional shareholders ( Group B)

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RESULTS-Findings -Hyothesis testing -Recommendations -Scope for futher study

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BIBLIOGRAPHY

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APPENDIX

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A QUESTIONNAIRE ON Survey of ten shareholders regarding the utility of publishedannual report. Instructions 1.Read all question 2.Give answer of all question 3.Write answer neatly 4.Tick out appropriate option PART .1 1.Name

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2.Occupation 3.Address 4.Phone no 5.E-mail address

6 Name of company in which money is invested 7. Why do you invest your money inshare? a)For earning dividend. b) For getting advantage of capital appreciation.8. Do you take investment decision on your own or with help of profession? c)Yes d) No

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If you are taking help of profession tick out the correct option from following.a)Share broker b)C.A

PART B 1.Do you get copy of published annual report of company in which you haveinvested your money? a)Yes b) No 2.Do you read annual report? a) Always b) Frequently

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c) Occasionally d) Rarely e) Never 3.Tick out important content of annual reportfrom your point of view? a) Director report b) Auditors report c) Financial report e) Notice of annual general meeting 4.Important items in balance sheet fromyour point of view?

5.Give reason why above items are important?

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6.Which are important parts from director's reports from your point of view?

7.Why you think above parts are important?

8.In auditors reports if there are remarks of auditors , do you take such remarks seriously? a) Always b) Sometime c) Never 9.Do you read ratios? A) Yes

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b) No If yes which 10.Do you read notice and agenda of annual general meeting? a) Always b) Sometime c) Never 11.Do you attend annual meeting? a) Always b) Sometime c) Never

12.Are you interested in appointment of and remuneration given to the directors,auditors? a) Always

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b) Sometime c) Never 13.Do you think that annual publish report are helpful in taking investment decision in that company? a) Always b) Sometime c) Never 14.Doyou make comparison of performance of company on the basis of previous years andcurrent years figures? a) Always b) Sometime c) Never 15.Do you suggest to yourfriends to invest in certain company in which you have invested? a) Always b) Sometime

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c) Never

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