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@article{172694,
        author = {Ashit Das and Prof. Chinmoy Roy},
        title = {Interrelationship between Working Fund Allocation, Investment Strategies and Dividend Decisions in Indian PSEs: An Analytical Study},
        journal = {International Journal of Innovative Research in Technology},
        year = {2025},
        volume = {11},
        number = {9},
        pages = {973-986},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=172694},
        abstract = {This study fills critical research in understanding working capital management dynamics within Indian Public Sector Enterprises (PSEs), specifically examining the relationship between investment and dividend decisions. While existing literature recognizes the influence of cash flow on these financial choices, the direct impact of working capital allocation remains underexplored. Drawing on ten years of financial data from top-performing Maharatnas, this research employs descriptive statistics, correlation analysis, and multiple regressions to assess key financial metrics—including Capital Expenditure, Dividend per Share, and Net Working Capital. The findings indicate that while Total Assets and Net Income significantly shape dividend decisions, Net Working Capital has a limited role in influencing investment or dividend policies. Additionally, the study highlights the potential impact of high leverage ratios on investment strategies, underscoring the importance of prudent capital management. These insights provide valuable guidance for optimizing financial strategies in Indian PSEs, strengthening corporate governance, and promoting economic stability. The study concludes with recommendations for further research, advocating for more nuanced models to capture the complexities of working capital management and its broader implications for financial performance in the public sector.},
        keywords = {Working Capital Management, Indian Public Sector Enterprises (Maharatna), Investment Decisions, Dividend Decisions, Working Capital Allocation, Capital Expenditure, Dividend per Share, Net Income.},
        month = {February},
        }