2015 |
Volume 5 |
Issue Issue 3
Capital Structure and Earnings per Share: An Empirical Analysis of Indian Corporate Sector
1.
Harvinder Singh Mand
– Punjabi University College, Ghudda, Bathinda, Punjab, India.
2.
Manjit Singh
– Punjabi University College, Ghudda, Bathinda, Punjab, India.
Received
26-Aug-2015
|
Accepted
-
|
Published
26-Aug-2015
|
Abstract
This paper intends to measure the impact of capital structure on EPS (earnings per share) in Indian corporate sector. Fifteen control
variables along with capital structure have been selected to know their impact on EPS. Panel data regression has been applied to establish the relationship among dependent and independent variables. It is found from the empirical analysis that the relation of capital structure with EPS has been statistically insignificant in Indian corporate sector among all specific industries except telecommunication industry. The results are consistent with Modigliani-Miller approach.
Keywords Capital Structure, Earnings per Share, Panel Data
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