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INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2456-4184 | Impact factor: 8.76 | ESTD Year: 2016 Scholarly open access journals, Peer-reviewed, and Refereed Journals, Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool) , Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI) |
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| Paper Title: | THE ANNOUNCEMENT EFFECT OF CASH DIVIDEND: - A CASE STUDY OF RELIANCE INDUSTRIES LIMITED |
| Authors Name: | Praveen Singh Chawahan |
| Download E-Certificate: | Download |
| Author Reg. ID: |
IJNRD_182257
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| Published Paper Id: | IJNRD2207150 |
| Published In: | Volume 7 Issue 7, July-2022 |
| DOI: | |
| Abstract: | Dividend decision is very important decision for finance manager to take action between Investment decision and Financing decision. There is a gap of research on Reliance Industries Limited being no sufficient research has been done in recent decade to seek the relationship between dividend policy and shareholders wealth in short run. This draws my attention to study the short-term effect of dividend announcement on shareholders wealth of Reliance Industries Limited. My research is based on secondary data collected either from RIL’s annual report or moneycontrol.com/BSE Sensex. I have analyzed only data for 10 years from 2011-12 to 2020-21. I have applied paired-t test & Wilcoxon Signed Ranks Test, to check whether significant positive difference in stock prices of RIL listed on BSE exist or not after dividend announcement date of RIL till ex-dividend date (say window period) as compared to before announcement date (equal no. of window period as between dividend announcement date till ex-dividend date) during studied period. Result shows that there is statistically significant positive difference existed in stock price of RIL listed on BSE after dividend announcement date till ex-dividend date which means wealth of shareholders of RIL increase after dividend announcement till ex-dividend date in window period from 2011-12 to 2020-21. I have tested only short-term effect of dividend announcement thus there is scope of long-term study of dividend policy of Reliance Industries Limited. |
| Keywords: | Dividend announcement, Event study, Reliance Industries Limited, Paired-t test & Wilcoxon Signed Ranks Test. |
| Cite Article: | "THE ANNOUNCEMENT EFFECT OF CASH DIVIDEND: - A CASE STUDY OF RELIANCE INDUSTRIES LIMITED", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.7, Issue 7, page no.1348-1353, July-2022, Available :http://www.ijnrd.org/papers/IJNRD2207150.pdf |
| Downloads: | 000118755 |
| ISSN: |
2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID:IJNRD2207150 Registration ID: 182257 Published In: Volume 7 Issue 7, July-2022 DOI (Digital Object Identifier): Page No: 1348-1353 Country: Gorakhpur, Uttar Pradesh, India Research Area: Commerce Publisher : IJ Publication Published Paper URL : https://www.ijnrd.org/viewpaperforall?paper=IJNRD2207150 Published Paper PDF: https://www.ijnrd.org/papers/IJNRD2207150 |
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ISSN: 2456-4184
Impact Factor: 8.76 and ISSN APPROVED
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