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Impact of financial distress on the dividend policy of banks in India: evidence using panel data

Future business journal, 2024-12, Vol.10 (1), p.27-11 [Peer Reviewed Journal]

The Author(s) 2024 ;The Author(s) 2024. This work is published under http://creativecommons.org/licenses/by/4.0/ (the “License”). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License. ;ISSN: 2314-7202 ;EISSN: 2314-7210 ;DOI: 10.1186/s43093-024-00310-y

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  • Title:
    Impact of financial distress on the dividend policy of banks in India: evidence using panel data
  • Author: Rawal, Aashi ; Gopalkrishnan, Santosh
  • Subjects: Banking industry ; Banks ; Business and Management ; Capital structure ; Debt/equity ratio ; Decision making ; Dividend distributions ; Dividend payout ; Dividend policy ; Economic crisis ; Economic growth ; Emerging markets ; Equity ; Financial distress ; Financial institutions ; Influence ; International finance ; Panel data analysis ; Stockholders
  • Is Part Of: Future business journal, 2024-12, Vol.10 (1), p.27-11
  • Description: The study primarily aims to examine the impact of financial distress on the dividend distribution policy of banks operating in India. Panel data analysis was performed using a static model to investigate the impact of distress on the bank’s dividend policy. The Z-score developed by Altman measures a bank’s financial distress (a high Z-score indicates the absence of financial distress). Data from 31 out of 34 banks operating in India between 2016 and 2020 has been used. The debt/equity ratio is used as the moderator. The sales log is used as the control variable. A linear connection exists between financial distress and dividends. Furthermore, debt/equity ratio significantly moderates the association of financial distress with dividend policy. The findings contribute to formulating a long-term dividend policy by drawing attention to the distressing situation in the banking sector, focusing on ensuring the banks’ financial viability. Thereby, the findings are novel and hold significant worth in improving the current understanding of the subject.
  • Publisher: Berlin/Heidelberg: Springer Berlin Heidelberg
  • Language: English
  • Identifier: ISSN: 2314-7202
    EISSN: 2314-7210
    DOI: 10.1186/s43093-024-00310-y
  • Source: DOAJ Directory of Open Access Journals
    Coronavirus Research Database
    ProQuest Central
    Springer Nature OA Free Journals
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