Paper Title
THE ANNOUNCEMENT EFFECT OF CASH DIVIDEND: - A CASE STUDY OF RELIANCE INDUSTRIES LIMITED
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Registration ID: IJNRD_182257
Published ID: IJNRD2207150
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Keywords
Dividend announcement, Event study, Reliance Industries Limited, Paired-t test & Wilcoxon Signed Ranks Test.
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.
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How To Cite (APA)
Praveen Singh Chawahan (July-2022). THE ANNOUNCEMENT EFFECT OF CASH DIVIDEND: - A CASE STUDY OF RELIANCE INDUSTRIES LIMITED. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 7(7), 1348-1353. https://ijnrd.org/papers/IJNRD2207150.pdf
Issue
Volume 7 Issue 7, July-2022
Pages : 1348-1353
Other Publication Details
Paper Reg. ID: IJNRD_182257
Published Paper Id: IJNRD2207150
Research Area: Commerce
Author Type: Indian Author
Country: Gorakhpur, Uttar Pradesh, India
Published Paper PDF: https://ijnrd.org/papers/IJNRD2207150.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2207150
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