*Assistant Professor (Selection Grade), Department of Commerce, Kanchi Mamunivar Centre for Post Graduate Studies (Autonomous-Term II) NAAC Re-accredited “A” Grade (Centre with Potential for Excellence by UGC Phase-II) (Affiliated to Pondicherry Central University) Puducherry, Puducherry-605 008. India
**Doctoral Research Scholar, P.G & Research, Department of Commerce, Kanchi Mamunivar Centre for Post Graduate Studies (Autonomous-Term II) NAAC Re-accredited “A” Grade (Centre with Potential for Excellence by UGC Phase-II) (Affiliated to Pondicherry Central University) Puducherry, Puducherry-605 008. India
JEL Classification Codes: G10, G 32, G 35
This present study has examined the impact of dividend policyon the share price volatility of the Oil and Gas industries(OGI)in India which are listed at National Stock Exchange(NSE). Entirely 14 firms are listed in NSE 9 firms have been paying dividend consecutively for the recent 5 years. Therefore 9 firms have beenincluded as sample for the study. The period of the study has been considered from the year 2012–2016. The study is based on secondary data in nature. Share price volatility(SPV) has considered as the depended variable. The independent variables are dividend payout ratio (DPR), Dividend yield (DY), Assets growth (AG), Firm size (FS), Earning volatility (EV), and Earning per share (EPS). These variables are gauge for evaluating the effect of dividend payout on the share price changes. Descriptive Statistics, Pearson Correlation and Multiple Regressions have been employed, and SPSS 22 Version software Package was used for the analysis. The empirical estimations found that the dividend policy is not correlated with the share price volatility of the firm. Further it was negatively correlated with the firm size (FS).
Dividend Policy, Dividend Payout Ratio, Dividend Yield, Earning Volatility Share Price Volatility and Firm Size
