*PhD Research Scholar, Commerce Department, The University of Burdwan, Burdwan-713104, West Bengal, India
**Supervisor, Department of Economics, The University of Burdwan, Burdwan-713104, West Bengal, India
***Supervisor, Department of Commerce, The University of Burdwan, Burdwan-713104, West Bengal, India
Online published on 18 October, 2019.
The paper investigates the interrelationship between capital structure and dividend policies using data from 40 BSE listed companies by choosing 4 sample companies from each of 10 industries, namely, automobile, cement, engineering, fertilizer, oil exploration, pharmaceutical, refineries, tea, textile and tyre during the study period 1999–2000 to 2013–14. For analysing the said interrelationship, the study has applied Akaike's Information Criterion (AIC), Granger Causality Test and Panel Data Regression Methodology. From the estimated results of Granger Causality Test, we observe that F-Statistic value using Dividend Payout Ratio as independent variable is significant for 5 sample
Capital Structure, Dividend Policy, Interrelationship, Granger Causality Test, Panel Data Regression Technique
