Dividend Smoothing and Business Groups: Evidence from Indian Companies (Record no. 50978)
[ view plain ]
| 000 -LEADER | |
|---|---|
| fixed length control field | 01987nam a22002177a 4500 |
| 003 - CONTROL NUMBER IDENTIFIER | |
| control field | OSt |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20190123162526.0 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 190123b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Labhane, Nishant B. |
| 9 (RLIN) | 32963 |
| 245 ## - TITLE STATEMENT | |
| Title | Dividend Smoothing and Business Groups: Evidence from Indian Companies |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 690–706 p. |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | This article examines the determinants of dividend smoothing behaviour of business group-affiliated firms relative to unaffiliated firms in India during the period from 1994–1995 to 2012–2013. The study is based on 240 sample firms listed on the National Stock Exchange (NSE) that has continuous dividend data for the entire period. The business group-affiliated firms tend to smooth their dividend payments more than that of standalone firms and the actual payout ratio as well as the target payout ratio of business group-affiliated firms is higher than that of standalone firms. For the determinants of dividend smoothing, the investment opportunities and the financial leverage are the significant factors influencing the dividend smoothing behaviour of business group-affiliated firms and standalone firms, respectively. For the entire sample, the firms with high investment opportunities, low leverage, high business risk and that are smaller in size tend to smooth their dividend payments more. As for the macroeconomic factors, the high dividend distribution tax (DDT) imposed by government tends the firms to smooth their dividend payments more. Overall, the results support the information asymmetry and agency-based explanation of dividend smoothing behaviour. |
| 653 ## - INDEX TERM--UNCONTROLLED | |
| Uncontrolled term | Dividend policy, |
| Uncontrolled term | dividend smoothing, |
| Uncontrolled term | target payout ratio |
| Uncontrolled term | partial adjustment model, |
| Uncontrolled term | business groups |
| 700 ## - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Mahakud, Jitendra |
| 9 (RLIN) | 28742 |
| 773 0# - HOST ITEM ENTRY | |
| Host Biblionumber | 29349 |
| Host Itemnumber | 70966 |
| Main entry heading | BANIK, ARINDAM |
| Place, publisher, and date of publication | NEW DELHI SAGE PUBLISHING PVT. LTD. |
| Other item identifier | 5558944 |
| Title | GLOBAL BUSINESS REVIEW |
| International Standard Serial Number | 0972-1509 |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Source of classification or shelving scheme | Dewey Decimal Classification |
| Koha item type | Journal Article |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Home library | Current library | Date acquired | Total Checkouts | Full call number | Barcode | Date last seen | Price effective from |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dewey Decimal Classification | Main Library | Main Library | 23/01/2019 | Vol 19, No 3/ 5558944JA11 | 5558944JA11 | 23/01/2019 | 23/01/2019 |