tailieunhanh - An empirical study of dividend effect through two fold impact on share price

There is abundant study available which studied impact of dividend announcement on share price but this paper is modeled in different manner as dividend announcement is not one time process but any company takes several procedural checks to ensure announcement of dividend from conception to declaration and declaration to distribution which is segregated into two-fold study in the present paper. | An empirical study of dividend effect through two fold impact on share price International Journal of Management IJM Volume 9 Issue 2 March April 2018 pp. 64 74 Article ID IJM_09_02_007 Available online at http ijm JType IJM amp VType 9 amp IType 2 Journal Impact Factor 2016 Calculated by GISI ISSN Print 0976-6502 and ISSN Online 0976-6510 IAEME Publication AN EMPIRICAL STUDY OF DIVIDEND EFFECT THROUGH TWO FOLD IMPACT ON SHARE PRICE Dr. A. Shanker Prakash Assistant Professor Amity Business School Amity University Gwalior Madhya Pradesh ABSTRACT There is abundant study available which studied impact of dividend announcement on share price but this paper is modeled in different manner as dividend announcement is not one time process but any company takes several procedural checks to ensure announcement of dividend from conception to declaration and declaration to distribution which is segregated into two-fold study in the present paper. The ASRV and CAAR tests applied on five sample companies which declared final dividend during 2017. The conclusion suggested that dividend announcement is regular practice of any company which could not change the leading trend amp fashion to market. Key words Two-Fold Study Dividend Effect ASRV CAAR Final Dividend. Cite this Article Dr. A. Shanker Prakash An Empirical Study of Dividend Effect Through Two Fold Impact On Share Price International Journal of Management 9 2 2018 pp. 64 74. http IJM JType IJM amp VType 9 amp IType 2 1. INTRODUCTION Observing the stock price movement is an area of research that had pulled the attention of various academicians and scholars time to time. Many economic and non-economic factors affect the movement of the share price which incorporation is studied through event-study analysis. A company s liquidity in the present market can be determined by the dividend announcements made by the company. One of the most meaningful .