Dr. Manoj Subhash KamatDr. Manasvi M. Kamat2025-02-282025-02-282025-02-28http://mescollege.ndl.gov.in/handle/123456789/53This paper aimed to test applicability of dividend stability hypothesis and add to the relatively limited literature on aspects of dividend decision by examining the dynamics of relationship between dividend payouts and a host of other explanatory variables. We model the dynamic panel data using Partial Adjustment Model (PAM) within the framework of Generalized Methods of Moments (GMM) using Instrumental Variable (IV) approach to advance the knowledge of dividend and uncover the macro-economic determinants of dividend along the variability of dividend policy practices in India for a longer time window, 1971-2007.enArticle