A Study On Impact Of Dividend Policy On Shareholders’ Wealth Pre And Post Financial Meltdown-An Empirical Analysis Of Selected Pharmaceutical Companies In India

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Dr. P. SURESH , ASSISTANT PROFESSOR

Abstract

Dividend Policy of corporate organizations is broadly explored point in finance however; it stays an arguable issue to choose what elements decide the DP. The target of this paper is to investigate the dividend dispersion of chose drug organizations and discover the effect of Dividend Policy on investors' abundance of drug organizations in India before and after monetary emergency. The scientist has taken 13 organizations who were enlisted before 1998 out of 143 organizations recorded on National Stock Exchange (NSE). In the light of the earlier writing, key indicator factors such as Dividend per share (DPS), Market value share (MPS), Price income proportion (PER), Earnings per share (EPS), Earnings after income and Lagged value profit proportion (LAGPER) are considered for examining the effect of DP on SW. This examination paper utilized factual devices, for example, augmented dickey more full test, Karl Pearson's Correlation and Regression. The examination found that high relationship exists between the factors by and large and higher DP empowers increment in the market estimation of value per offer and the other way around. The aftereffects of the measurable instruments demonstrate that the Pharmaceuticals organizations have huge move in design (positive improvement) in regard of SW after worldwide monetary emergency. Investors favored current profit to future pay in this way, profit is viewed as a significant variable, which decides the SW.

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