AbsractInvestors have experienced superior gains from stock markets all around the world during the past one decade. Investors have two ways to make profits with stocks: capital appreciation and annual income in the form of dividend. Capital appreciation is possible in bullish trend. But in bearish market, capital appreciation is not possible; the other way to gain profit is dividend. Investors, it is assumed, consider dividend as a more important source of income, when there is no capital appreciation in stocks. Using an event study methodology, we find that despite the fact that investors do not gain significant value in the period preceding as well as on the dividend announcement day, yet, they can gain value in the postannouncement period. Investors do shift their security positions at the time of dividend announcement, which indicates that in post-announcement period, there is a possibility of information content in dividend announcement in National Stock Exchange (NSE). The dividend announcement conveys information to market traders; one would expect the impact of this event on the market's valuation of the company's share. It depends on the magnitude of the unexpected component of the dividends. The present study attempts to contribute information concerning the behaviour of Indian stock prices in relation to dividend announcement. KeywordsDividend announcements, semi-strong form of efficient market hypothesis, event studies, abnormal returns, pre and post-announcement periods, chart analysis

In a graph G = (V, E), a non-empty set S ⊆ V is said to be an open packing set if no two vertices of S have a common neighbour in G. An open packing set which is not a proper subset of any open packing set is called a maximal open packing set. The minimum and maximum cardinalities of a maximal open packing set are respectively called the lower open packing number and the open packing number and are denoted by ρ o L and ρ o .In this paper, we present some bounds on these parameters.

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Announcement of quarterly results is the course of communicating the performance of a company to its owners. Investors' long-term buying decisions

This paper empirically analyzes the determinants of dividend payment for the top 50 companies in terms of market capitalization, listed in the National Stock Exchange. An important aspect of the dividend policy of any corporate is the division of net current earnings after tax into dividend to be paid to shareholders and retaining the residual. Dividend declaration is a crucial decision; it influences the growth of the company through retained earnings as well as the market value of the equity shares where dividends appear to play an important role. This paper makes an attempt in this direction with the objective of analyzing dividend policy and practices in respect of selected Indian corporates. It seeks to determine the influence of the factors like net profits, liquidity and reserve position, share prices, investors' expectations, volume of sales, windfall gains etc. on the dividend decisions of corporates This study analyses that the relationship with the factors and dividend decisions of the corporates is existant or not.