Browsing by Author "Anandasayanan, S."

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An Empirical Study on the Determinants of Dividend Policy of Listed Beverage Food and Tobacco Companies in Sri Lanka
(University of Kelaniya, 2012) Sivasubramaniam, S.; Anandasayanan, S.
Dividend policy is one of the most controversial and the most debatable issues in the corporate finance literature and still keeps its prominent place in developed and emerging markets. This research aims to examine the factors which affect dividend policy for listed Beverage food and Tobacco companies in Sri Lanka. In particular, the research examines the extent to which firm characteristics affect corporate dividend policy for the period from 2008 to 2011. This study explains the impact of Firm characteristics such as firm size, profitability, leverage and tangibility on dividend policy. Pearson’s correlation and multiple regression models are used to analyze the data. Based on the sample of 10 listed Beverage Food and Tobacco companies, it is found that some of the Firm characteristics have influenced more on the dividend policy decision among listed Beverage Food and Tobacco companies in Sri Lanka. The results reveal that firm size and profitability have a positive impact on dividend policy. Further, leverage has a negative impact on dividend policy.
Impact of Audit Committee characteristics on Financial Performance of companies listed under materials sector in CSE
(Faculty of Commerce and Management Studies University of Kelaniya, Sri Lanka., 2020) Kasthury, S.; Anandasayanan, S.
Audit committee functions as an indispensable mechanism by effectively communicating between internal and external auditors. This study aims to evaluate how the audit committee affects the entities’ financial performance using a sample of companies from the material industry, out of 20 GICS industries listed in CSE. Only 14 companies were chosen out of the 23 companies in the material sector using the random sampling method. This study was based on secondary data where the data was obtained for these 14 companies from annual reports for the period from 2012 to 2019. The statistical techniques of Descriptive Statistics and Regression Analysis were utilized for analyzing the data. Earnings Per Share as a dependent variable and the audit committee size, audit committee independence, audit committee financial expertise, audit committee meetings were considered as independent variables, furthermore firm size as control variables were utilized for undertaking the study. The findings revealed that the audit committee meetings had a significantly positive impact on earnings per share, whereas all the audit committee attributes excluding audit committee independence showed a positive influence over earnings per share.
The Impact of Corporate Governance on Firm Performance of Listed Banks in Sri Lanka
(University of Kelaniya, 2012) Anandasayanan, S.
The issue of Corporate Governance arises because of the separation of ownership from control in modern corporations. The separation of ownership and control has had profound consequences on the nature of Corporate Governance. In Sri Lanka, the Financial Services Industry also plays a considerable role in economic development and business improvement. This paper seeks to investigate the relationship between Corporate Governance and firm’s performance of twenty banks listed at the Colombo Stock Exchange. The two variables related to Corporate Governance are included in this study (Board, Audit Committee). The performance of Corporate Governance is analyzed through Tobin’s Q, while performance of the firms is measured by return on assets (ROA) and return on equity (ROE). The data set is obtained from the annual reports for the year 2008-2010. The multiple regression models are applied to test the significance of Corporate Governance and firm profitability. The result shows that the Board and Audit Committee have a significant relationship with Tobin’s Q, which confirms a significant effect in measuring performance of the firm. It means that firms with good Corporate Governance measures perform well as compared to the firms having no or fewer Corporate Governance practices.