International Journal of Scientific Research and Engineering Development

This study examines financial decision-making practices across four countries India, Indonesia, Nigeria, and Italy. Evidence from India between 1980–81 and 2019–20 indicates that the impact of government expenditure on economic growth has been mixed, depending on whether spending was capitaloriented or revenue-based, while domestic private investment has consistently shown a positive effect.
Transparency through quantitative and qualitative disclosures contributes to improved governance and stakeholder confidence. During the COVID-19 pandemic, dividend policy and firm performance demonstrated a reciprocal relationship, with firms adjusting payout decisions in response to financial pressures. Traditional budgeting approaches, such as the payback period, continue to be used, while advanced methods, including real options analysis, have emerged to address uncertainty in financial planning.
In Indonesia, fiscal decentralization particularly through instruments such as the General Allocation Fund (DAU) and Regional Original Revenue (PAD)has played an important role in shaping regional capital expenditure, with PAD showing a more consistent positive impact. In Nigeria, dividend payout behavior is influenced by firm performance, ownership structure, and company size. Overall, the comparative review highlights how government policies, institutional structures, and financial management practices shape decision-making across diverse economic environments.