Browsing by Author "Wijerathne, A.G.S.H.K."

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Factors Affecting the Changes in Share Price in the Banking Sector of Sri Lanka
(Wedikkara, T.H.; Wijerathne, A.G.S.H.K. (2023), Public Debt and Economic Growth: Comparison among Sri Lanka, India and Bangladesh, 9th International Conference Accounting Researchers & Educators (ICARE 2023), Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka. 118, 2023) Wedikkara, T.H.; Wijerathne, A.G.S.H.K.
The banking sector in Sri Lanka is one of the most dynamic and vibrant sectors of the economy. It plays a crucial role in the country's financial system and economic development. The performance and changes in share prices within the banking sector are influenced by a multitude of internal and external factors. The purpose of this research is to identify the factors that affect the share prices in the banking sector of Sri Lanka and to determine the factor that mostly affects the share prices of the banking sector in Sri Lanka. A sample of 9 licensed commercial banks listed in the Colombo Stock Exchange were selected to conduct the study and the study covers the period from 2013 to 2022. As per the results of the study, the factors; of dividend yield, asset growth, debt-to-equity ratio and return on assets have a significant impact on the changes in the share price of commercial banks in Sri Lanka. Further, the liquidity coverage ratio and the capital adequacy ratio were identified to have an insignificant impact on the changes in the share prices of commercial banks in Sri Lanka. The findings of the study would help decision makers of the banks, potential investors, academics, and other stakeholders in making decisions including, profit allocation investment decisions, operating and strategic decisions. By understanding the factors that affect share prices, investors can better assess the risks and potential rewards of investing in Sri Lankan banks. The studies that have incorporated liquidity coverage ratio and capital adequacy ratio are rare to find. Therefore, this study provides a novel contribution to the literature.
The Impact of Corporate Governance on Internet Financial Reporting of Listed Companies in Sri Lanka
(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2023) Thilakarathne, H.G.Y.A.; Wijerathne, A.G.S.H.K.
Internet financial reporting represents a contemporary approach to disseminating financial information through the utilization of the internet and digital technologies. Corporate governance is the system of rules and practices by which a company is directed and controlled. Internet financial reporting plays a pivotal role in providing real-time and easily accessible financial information online, contributing to global transparency, cost reduction, and encouraging stakeholder trust. Corporate governance, in turn, ensures ethical conduct, accountability, and sustainable business practices, addressing legal compliance, risk management, and long-term success. This study’s objective is to examine the influence of corporate governance practices on Internet Financial Reporting among 75 listed companies in Sri Lanka. The study employs a thorough index consisting of 35 items that assess both content and presentation aspects of Internet financial reporting practices. The findings indicate that, on average, Sri Lankan companies disclose and present only 14 items, constituting 40% of the total Internet financial reporting index. Significant influences on Internet Financial Reporting practices include the presence of distinct chairman and CEO roles, board independence, external audits conducted by major firms, managerial ownership, and firm size. These results underscore the dominance of corporate governance practices in elucidating the impact on Internet Financial Reporting in Sri Lanka. However, an analysis of factors such as the number of board committee meetings, the board size, gender balance, company age, and liquidity indicate that these variables do not exhibit statistical significance in their association with Internet Financial Reporting practices. The findings of this study reveal a substantial impact of corporate governance on Internet Financial Reporting practices. They underscore the pivotal role that corporate governance plays in shaping IFR practices and emphasize the need for collaborative efforts among companies and regulators to improve transparency, accountability, and the adoption of strong IFR practices in Sri Lanka.
Relationship between Sustainability Reporting and Corporate Financial Performance with the Moderating Effect of Corporate Governance: Evidence from the Banking Sector of Sri Lanka
(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2023) Thilakarathna, P.M.R.M.; Wijerathne, A.G.S.H.K.
The increasing prevalence of sustainability reporting, especially about environmental, social, and governance aspects, has caused a paradigm shift in corporate assessment methods as it recognizes the necessity of ethical business operations. This study examines how environmental, social, and governance aspects, financial performance and corporate governance interact in Sri Lanka's banking industry. The sample of the study consists of 11 licensed commercial and specialized banks in Sri Lanka with the data collection period spanning from 2013 to 2022. The results indicate that there is no significant relationship between financial performance and environmental, social, and governance disclosures. However, as the results show, corporate governance moderates the insignificant relationship between environmental, social, and governance disclosures and financial performance. The study adds an intriguing new component by incorporating corporate governance as a moderating variable. The way that corporate governance and environmental, social, and governance interact has a significant moderating impact on financial performance, which highlights how important governance frameworks are in determining the impact of sustainability policies on profitability. This unique contribution of this study sheds light on the complex relationships that exist between sustainability reporting, financial performance, corporate governance, and, especially in the context of Sri Lanka's banking sector. By highlighting the moderating impact of corporate governance and illuminating the intricacy of these interactions, the research offers a novel viewpoint. The ramifications are worldwide in scope and provide valuable perspectives for banks that aim to improve their financial performance in tandem with sustainability objectives. When creating regulations and policies that support sustainable banking practices, legislators and regulators may discover helpful advice. The study's final goal vi is to support the development of a more ethically and sustainably conscious business climate in Sri Lanka by highlighting the relationships between sustainability, corporate governance, and financial performance.