Determinants of dividend policy in aluminium industry listed in Bombay Stock Exchange

Nandita Mohapatra, Devi Prasad Misra, Suman Kalyan Chaudhury and Biswajit Prasad Chhatoi

International Journal of Indian Culture and Business Management, 2024, vol. 31, issue 2, 243-259

Abstract: The prime objective of this study is to determine the effect of the growth rate of sales, liquidity, profitability, leverage, assets size and firm's age on the dividend policy of aluminium companies in India. The financial data collected from 19 aluminium companies listed on the Bombay Stock Exchange (BSE) have been put to analysis using fixed panel data and random effect regression model. The findings of the study infer that sales growth is the only significant determinant of the dividend policy. Besides, liquidity, asset size and firms' age are insignificantly negatively associated with the dividend payout. Similarly, profitability and leverage are insignificantly positively related to the dividend payout. The implication of the study is that it can be taken as a base for such research in the field of dividend policy in the Indian companies as very limited studies have been conducted in this regard.

Keywords: dividend policy; growth rate; profitability; aluminium industry; Bombay Stock Exchange; BSE. (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=136809 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijicbm:v:31:y:2024:i:2:p:243-259

Access Statistics for this article

More articles in International Journal of Indian Culture and Business Management from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().