Browsing by Author "Munasinghe, M. A. T. K."

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Impact of Corporate Governance on Financial Distress: Evidence from Listed Financial Institutions in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2023) Perera, T. M. A. Y. M.; Munasinghe, M. A. T. K.
This study focuses on the role of corporate governance in predicting financial distress of companies in the finance sector in Sri Lanka. Over the past two decades, a few finance sector companies collapsed in Sri Lanka affecting numerous victims with no proper compensation payments. The study aims to unveil the impact of corporate governance on financial distress of companies in the financial sector. Several key variables included to measure the corporate governance such as board size, board gender diversification, frequency of board meetings, audit quality, board member remuneration, CEO duality, education level of the board members, and board independence. As control variables firm size, profitability, and financial leverage are considered. Financial distress is operationalized through the measures of institutions negative profit, cash flow, or worth for three consecutive years. Data from 54 listed financial institutions in Sri Lanka were collected from 2017 to 2022. Descriptive analysis, Pearson correlation analysis, corporate governance comparison model, and regression analysis were employed for data analysis. The findings indicate that board size, board gender diversification, frequency of board meetings, higher audit quality, education level of the board, board independence, and return on equity have a significant negative impact on financial distress. These findings can help identify atrisk financial institutions, support decision-making for investors and stakeholders, guide the implementation of corporate governance policies, and inform policymakers in developing new governance policies.
The Dilemma of Information Overload: A Review of Literature from Accounting and Finance Related Studies
(Department of Finance, University of Kelaniya., 2022) Regina, A. L. V.; Munasinghe, M. A. T. K.
Purpose: Advancements in information and communication technologies enable the production of a mass amount of data and information. Do more information support quality decision-making? It is a dilemma. The purpose of this study is to address the findings related to information overload and discover potential research gaps. Design/Methodology/Approach: This paper aims to analyze the nature and trends of literature on information overload in the field of accounting and finance from 2017 to 2021 by adopting a systematic literature review approach. As a result of bibliometric analysis from the selected peer-reviewed journals, this paper shed light on 83 research papers for the review process. Findings: The current study finds an increasing trend of studies focusing on information overload issues in corporate reporting. Results portray that since corporate reports are the critical communication bridge between entities and their stakeholders, disseminating unclouded, coherent and transparent information through the reports is very important to facilitate users and decision-makers. Stakeholder perception studies on content, length, and readability of financial and non-financial information disclosures in the annual reports are suggested for future research endeavors. Originality: This study originates the point where the causes of information overload literally become a burden for effective decision-making. Thus, the finding of this study will be useful for both preparers and users of information in managing both financial and noninformation and help future researchers to spot gaps for upcoming research.
The World Bank Grants for Improving Higher Education Quality in Sri Lanka: AHEAD Grant Implementation Issues & Lessons Learnt: A Case of University of Kelaniya
(Faculty of Commerce and Management Studies, University of Kelaniya., 2022) Munasinghe, M. A. T. K.; Surangi, H. A. K. N. S.
This paper examines ongoing implementation issues of World Bank Grants for the Higher Education sector: Accelerating Higher Education and Development (AHEAD) at the Faculty of Commerce and Management Studies of the University of Kelaniya. The qualitative research method, particularly a case study, was adopted to collect and analyze data through the lens of stakeholder theory. In-depth interviews were conducted with several key personnel involved in the project. The data was triangulated with additional project documents and observations. Specific critical issues were observed affecting the original implementation plans of the projects. Covid-19 has become the major unforeseen factor affecting volatilities in project targets, inclusive of changes in the expected level of ‘quality,’ particularly in student-related activities. Despite issues in procurements and constructions, several positive lessons were learnt. Findings should lead to a generation of benchmark data in addressing project implementation issues.