ABOUT THE BOOK

Empirical evidence in literature supports the notion that managers listen to the market' since corporate events and changes in corporate payout policies are sensitive to market reactions. Historically, cash dividends have been considered as the most important form of payout. Of late, shares repurchases are emerging as an alternative mode of paying cash dividend. This monograph is perhaps the first of its kind that explores the impact of cash dividend changes (increase and decrease) and no change as well as shares repurchase announcements (frequent and infrequent) on the abnormal returns, changes in liquidity and risk profile of the sample firms both at an aggregate level and dis-aggregate level. The findings are further corroborated through the survey responses from senior executives of BSE 500 index firms.

ABOUT THE AUTHOR

Shveta Singh

Shveta Singh is an Associate Professor and the Area Chair of Finance at DMS, IIT Delhi, India. She has published over 100 research papers in journals of national and international repute and has co-authored two research monographs titled "Financial Management Practices: An Empirical Study of Indian Corporates" and "Equity Market in India: Returns, Risk and Price Multiples. She has been honored twice with the "Literati" award for outstanding research by Emerald Publishing Inc. She has contributed to various consulting assignments for the CIO Foundation, CISO Foundation, DGS&D, NBCC, ICSSR, Lok Sabha, NSE-IGIDR, Indian Navy, Indian Air Force, etc.

Dr. Sadaf Anwar

Dr. Sadaf Anwar is working as a Young Professional in Ministry of Finance, Delhi. She has done her Ph.D from Indian Institute of Technology (IIT Delhi). Shehas been honored by UGC-NET JRF fellowship and has experience of around 6 years including academia as well as industry. Her work is recognised in journals of national and international repute like Elsevier, Springer, Sage, Inderscience and ICWAL. She has presented papers in international and national conferences at IISE London, IIT Bombay, IIM Bangalore, Symbiosis International University, Pune and NISM, Bombay.

P.K. Jain

P.K. Jain is Emeritus Professor of Finance at Department of Management Studies, IIT Delhi. He has a teaching experience of more than 45 years including at AIT Bangkok, University of Paris I and Howe school, New Jersey. He has authored/co-authored near half a dozen text books and 15 research monographs. He has guided 27 Ph.D. students. He has been ranked 21 in the list of top 100 authors of IITs, in a book titled "Indian Citation Index" prepared by CII, 2017. He has contributed more than 200 research papers in journals of national and international repute.