Open Access
Subscription Access
Determinants of Dividend Policy for Select Information Technology Companies in India:An Empirical Analysis
Determinants of Dividend Distribution are one of the hotly debated topics in corporate finance. In this research paper top 4 Information Technology (IT) companies in India are analysed over a span of 5 financial years. Three factors namely Leverage, PE Ratio, and Return on Equity are found to be statistically significant, as far as Dividend Distribution Decisions are concerned. This is a significant addition to the theory on Determinants of Dividend Distribution, especially in the Indian context.
Keywords
Dividend Distribution, Leverage, PE Ratio, Return on Equity.
User
Font Size
Information
- Al-Twaijry, A.A. (2007).Dividend policy and Payout Ratio: Evidence from the Kuala Lumpur Stock Exchange. The Journal of Risk Finance, Vol. 8, No. 4, pp. 349-363.
- Al-Kuwari, D. (2009).Determinants of the Dividend Payout Ratio of Companies Listed on Emerging Stock Exchanges: The Case of the Gulf Cooperation Council (GCC) Countries. Global Economy & Finance Journal, Vol. 2, No. 2, pp. 38-63.
- Al-Malkawi, H. (2007). Determinants of Corporate Dividend Policy in Jordan: An Application of the Tobit Model. Journal of Economics and Administrative Sciences, Vol.23, No.2, pp.44-70.
- Asif, Rasool and Kamal (2011).Impact of Financial Leverage on Dividend Policy: Empirical Evidence from Karachi Stock Exchange-Listed Companies. African Journal of Business Management, Vol. 5, No.4, pp.1312- 1324.
- Amidu, M. and Abor, J. (2006). Determinants of Dividend Payout Ratios in Ghana. Journal of Risk Finance, Vol 7, pp.136-145.
- Brittain, J. A. (1966). The Tax Structure and Corporate Dividend Policy. American Economic Review, Vol. 54, No.3,pp.1-10,
- Husam – A. N. and Al- Malkawi(2007). Determinants of Corporate Dividend Policy in Jordon: An Application of the Tobit Model. Journal of Economic and Administrative Sciences Vol.23,No.2, pp.44-70.
- Kania, S.L. and Bacon, F.W.(2005).What factors motivate the corporate dividend decision? American Society of Business and Behavioral Sciences E-Journal, Vol. 1, No. 1,pp.97- 107.
- Kanwal, A. and Kapoor, S. (2008).Determinants of Dividend Payout Ratios-A Study of Indian Information Technology Sector. International Research Journal of Finance and Economics, Issue 15, pp.63-71.
- Mehta, A. (2012). An Empirical Analysis of Determinants of Dividend Policy- Evidence from the UAE Companies. Global Review of Accounting and Finance, Vol.3,No.1,pp.18-31
- Miller, M. H. and Modigliani, F. (1961). Dividend Policy, Growth and the Valuation of Shares.The Journal of Business, Vol.34, No.4, pp.411-433.
- Naceur, S.B., Goaied, M. and Belanes, A.(2006).In the Determinants and Dynamics of Dividend Policy. International Review of Finance, Vol.6, No.1-2, pp.1-23.
- Naeem, S., and Nasr, M. (2007). Dividend Policy of Pakistani Firms: Trends and Determinants. International Review of Business Research Papers, Vol. 3, No.3, pp.242-254.
- Pandey, M. (2004) Financial Management . Vikas publishing house Private Limited.
- Ross, S.A., Westerfield, RW and Jaffe, J.F. (2009). Corporate Finance Fundamentals, Eighth. Edition, McGraw Hill.
Abstract Views: 451
PDF Views: 22