A Study of Determinants of Dividend policy with special reference to Selected Automobiles Companies listed on BSE
Keywords:
Dividend Payouts, automobiles companies, BSE, Multiple Regression etcAbstract
The distribution of a portion of profit to shareholders is known as dividend. The dividend policy of a company is an important aspect as it affects many stakeholders of the company. The aim of the present study to examine the determinants of dividend policy of selected automobiles companies listed on Bombay Stock Exchange [BSE]. To achieve the purpose of the study, ten automobiles companies are selected and the data of last five years i.e. from 2014-15 to 2018-19 are analyzed by applying multiple regression analysis by using SPSS software. The study is based on secondary data. In this study Dividend per Share [DPS] and Dividend Payouts [DPO] are taken as dependent variables while financial factors like leverage, liquidity, ROE, EPS, PE and firm’s size are taken as independent variables. The study reveals that ROE, EPS, liquidity, leverage and EPS have significant impact on dividend payouts of the selected companies. The variables PE and firm’s size have no impact on dividend payouts of the selected companies.
Downloads
References
· B. Rajesh Kumar & K S Sujit (2018) Determinants of dividend among Indian firms: An empirical study, Cogent Economics & Finance, 6:1, DOI: 10.1080/23322039.2018.1423895
· Labhane, Nishant & Mahakud, Jitendra. (2016). Determinants of Dividend Policy of Indian Companies: A Panel Data Analysis. Paradigm. 20. 10.1177/0971890716637698.
· Hashim Zameer Shahid Rasool et al (2013) Determinants of Dividend Policy: A Case of Banking Sector in Pakistan, Middle-East Journal of Scientific Research 18 (3): 410-424, 2013, DOI: 10.5829/idosi.mejsr.2013.18.3.12200
· Uwuigbe Olubukunola Ranti (2013) Determinants of Dividend Policy: A study of selected listed Firms in Nigeria, Manager, change and leadership No. 17 2013
· Farman Ali Khan and Nawaz Ahmad (2017) Determinants of Dividend Payout: An Empirical Study of Pharmaceutical Companies of Pakistan Stock Exchange (PSX), Journal of Financial Studies & Research, Vol. 2017 (2017), Article ID 538214, DOI: 10.5171/2017.538214
· Manjunatha K and S B Akash (2019) An analytical study on determinants of dividend policy with special reference to selected BSE sensex companies, Journal of Management Research and Analysis , January – March, 2019;6(1): 36 – 41
· Bogna Kaźmierska-Jóźwiak (2014) Determinants of Dividend Policy: Evidence from Polish Listed Companies, Procedia Economics and Finance 23 ( 2015 ) 473 – 477, DOI: 10.1016/S2212-5671(15)00490-6
· Souvik Banerjee (2016) Determinants of Dividend Policy for Selected Information Technology Companies in India: An Empirical Analysis, Parikalpana – KIIT Journal of Management, Vol-12(I), Jan-June 2016
· Ayman I. F. Issa (2015) The Determinants of Dividend Policy: Evidence from Malaysian Firms, Research Journal of Finance and Accounting, ISSN 2222-1697 (Paper) ISSN 2222-2847
· Annual Reports of the Selected Companies · www.wikipedia.com · www.moneycontrol.com
