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Dividend Policy Decision:Panel Data Analysis for Selected Cement Companies in India


Affiliations
1 Professor and Head, Former Dean, Department of Business Management, M.B.A. Programme, Saurashtra University, Rajkot, Gujarat, India
2 Associate Professor, Department of Commerce, M.K. Bhavnagar University, Gujarat, India
     

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In this paper researcher has tried to study the dividend policy decision of selected cement companies in India. Secondary data have been used. Study period was of five year from 2014 -2015to 2018-2019. Researcher identified important variables like DPR, EPS, DPS, CR, QR and Firm size for dividend policy. Multiple correlation matrix and penal data analysis techniques have been used to study determinates of dividend policy. Hausman test has also been used to select between random effect model and fixed effect model. Hausman test suggested that random effect mode is appropriate. Result of correlation matrix suggested that DPR is insignificantly correlated with CR, QR and firm size. Result of Pooled Ordinary Least Square Model indicates that EPS, DPS, CR, QR and Firm size are insignificant to DPR. The result of Random effect model shows that EPS, DPS, CR, QR and Firm size have also been insignificant to DPR.

Keywords

Dividend Policy, Earning, Liquidity and Firm Size.
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  • Dividend Policy Decision:Panel Data Analysis for Selected Cement Companies in India

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Authors

Sanjay Bhayani
Professor and Head, Former Dean, Department of Business Management, M.B.A. Programme, Saurashtra University, Rajkot, Gujarat, India
Butalal Ajmera
Associate Professor, Department of Commerce, M.K. Bhavnagar University, Gujarat, India

Abstract


In this paper researcher has tried to study the dividend policy decision of selected cement companies in India. Secondary data have been used. Study period was of five year from 2014 -2015to 2018-2019. Researcher identified important variables like DPR, EPS, DPS, CR, QR and Firm size for dividend policy. Multiple correlation matrix and penal data analysis techniques have been used to study determinates of dividend policy. Hausman test has also been used to select between random effect model and fixed effect model. Hausman test suggested that random effect mode is appropriate. Result of correlation matrix suggested that DPR is insignificantly correlated with CR, QR and firm size. Result of Pooled Ordinary Least Square Model indicates that EPS, DPS, CR, QR and Firm size are insignificant to DPR. The result of Random effect model shows that EPS, DPS, CR, QR and Firm size have also been insignificant to DPR.

Keywords


Dividend Policy, Earning, Liquidity and Firm Size.

References