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Publication Type : Journal Article
Publisher : Academy of Accounting and Financial Studies Journal
Source : Academy of Accounting and Financial Studies Journal , Volume 21, Issue 2, p.1-12 (2017)
Keywords : Dividend payout ratio; Firm fundamentals; Panel autoregressive distributed lag analysis
Campus : Coimbatore, Kochi
School : School of Business
Department : Business
Year : 2017
Abstract : Corporate dividend policy has been an area of concern in financial literature for quite a long time. Substantial research hasbeen carried out on dividend policy leading to the emergence of various theories. Majority of this research has been carriedout with respect to developed countries. There are only a limited number of empirical investigations on the dividend policy ofcompanies in emerging economies such as India. Identifying and understanding the key factors that motivate the managersto distribute dividends is important for investors. The study analyses the determinants of dividend policy of manufacturingcompanies in India using panel data. Financial leverage, profitability, and firm size determine the dividend policy of the firm.Growth of the firm has an effect on dividend policy in the short run. To best of the knowledge, no study has done on this topicusing Panel ARDL in Indian context.
Cite this Research Publication : Dr. P. Balasubramanian, Kannadhasan, M., Aramvalarthan, S., and Gopika, A., “Determinants of Dividend Policy of Indian Manufacturing Companies: Panel Autoregressive Distributed Lag Analysis”, Academy of Accounting and Financial Studies Journal , vol. 21, no. 2, pp. 1-12, 2017.