This article evaluates the efficiency of existing dividend distribution tax in India from the perspective of investors’ preference pattern, as revealed in the market. It investigates the announcement effect of dividend in India in the presence of dividend distribution tax with specific...

Way back in 1934, Graham and Dodd observed the importance of earning power in investment theory. According to them, history of actual earning with a reasonable expectation should be approximated in future. The empirical study of Ball and Brown (1968) contends that - of all the sources of...

The inverse relationship between the diffused ownership structure and firm performance remains a debatable issue since the seminal thesis of Berle and Means (1932). Studies by Demsetz and Villalonga (2001) and others did not find any systematic relationship between ownership structure and firm...

Purpose – Based on the agency theory, the purpose of this paper is to theoretically argue and empirically investigate how ownership structure impacts the capital structure of the listed mid-cap companies in India and whether the capital structure as exogenous variable has a role in determining...

There are three major theories in the Corporate Finance literature, namely, Trade-off theory, Agency Cost theory and Pecking-Order theory that highlight different determinants of corporate capital structure. In an attempt to study the determinants of capital structure in Indian scenario and to...

The small business finance is characterized by the existence of formal and informal credit market. This paper looks at the operation of formal and informal credit market in terms of a model. It first considers the hierarchical structure of the formal lending sector and shows emergence of delay...

Two players are endowed with resources for setting up N locations on K identical circles, with N K= 1. The players alternately choose these locations (possibly in batches of more than one in each round) in order to secure the area closer to their locations than that of their rival's. They face...