Retention of Profits and Stock Markets-A Comment

Retention of Profits and Stock Markets A Comment L M Bhole IN his reply (December 27, 1980) to my comment ( July 19, 1980) and Patil's Rejoinder (June 21), Chitalc has attempted to defend his earlier proposal of lowering the retention ratio and increasing the dividend payout ratio by Indian joint-stock companies as a means of activising and developing stock markets.