Accountancy
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Item The Impact of Ageing Population on Economic Growth in South Asia(Asian Social Science, 2019) Abeywardhana, D.K.Y.The share of working age population has declined all over the world. It is forecasted that this will continue for the coming years in all countries in South Asia. Low growth in working age population in South Asia will be effecting negatively for the economic growth. This paper studies whether the South Asia 2050 employment targets would be sufficient to compensate for the downward impact of demographic burden and whether the impact of demography on economic growth differs between South Asian countries. The results show that degreasing working age population is the main challenge the South Asian region faces. Further it shows that growth in GDP mainly depend on the demographic change. Population who contributed the economic development become maturing and dependents of their children. The consumption of the ageing population is very high as of higher spending on healthcare facilities. This effect badly on the economic growth in the region and cause lots of challenges to the nations.Item Capital Structure and Profitability: An Empirical Analysis of SMEs in the UK(2015) Abeywardhana, D.K.Y.This study examines the relationship between capital structure and the profitability of non- financial SMEs in the UK for the period of 1998-2008. Using the Two Stage Least Squares, (2SLS) the results show a significant relationship with capital structure and profitability which is negatively related. The size of the firm appears a more important factor that determines the profitability in SMEs in the UK. There is consistent evidence for positive size- profitability relationship. The results of this study have shown that the capital structure of the firm has a significant influence on the profitability of SMEs in the UK. Especially, long-term debt to total assets ratio is negatively related with the profitability and this is an indication that SMEs are averse to use more equity because of the fear of losing the control.Item Impact of Capital Structure on Firm Performance: Evidence from Manufacturing Sector SMEs in UK(2015) Abeywardhana, D.K.Y.The purpose of this study is to investigate empirically the impact of capital structure on firm performance. This study examined the impact of capital structure on firm performance of manufacturing sector SMEs in UK for the period of 1998-2008. The authors hypothesize that there is a negative relationship between capital structure and firm performance. To examine the association, the authors run a Pearson correlation and multiple regression analysis. Results of this study reveals that there is a significant negative relationship between leverage and firm performance (ROA, ROCE), strong negative relationship between liquidity and firm performance and highly significant positive relationship between size and the firm performance. This study concluded that firms which perform well do not rely on debt capital and they finance their operations from retained earnings and specially SMEs have less access to external finance and face difficulties in borrowing funds. It is recommended that firm should establish the point at which the weighted average cost of capital is minimized and to maintain the optimal capital structure and thereby maximize the shareholders wealthItem Social Economic and Environmental Development and Corporate Social Responsibility in Sri Lanka(2015) Tilakasiri, K.K.This study reports Corporate Social Responsibility (CSR) and its present contribution of Sri Lankan context. CSR is renowned and known concept however, it is a new concept in Sri Lanka and research into this area relatively scarce compared with other Asian developing countries like India, Pakistan, Bangladesh, Indonesia, Malaysia and China. Furthermore, this study reveals complete on the theoretical development and the current CSR practices in Sri Lankan organisations, based on the literature and the researcher’s CSR experience tried to achieve the research objectives which was to identify the basic activities of CSR that was implemented in the Sri Lanka’s organisations. This study concluded that government and non-government organisations (NGO) have been implemented rules and regulations for community development, health and education development as well as environmental development, which are part of the CSR plans identified by international CSR standards. The government and the private sector both favour the adoption of CSR concepts, and are attempting to promote the implementation of CSR programmes in Sri Lanka.Item Whether Regional Disparity Affect the Efficiency of Universities in Sri Lanka?(2015) Dharmathilaka, K.K.K.; Jayamaha, A.In Sri Lanka annually millions of funds allocate from the Government budget to the universities in Sri Lanka to ensure quality higher education system. There are 15 universities were established and functioned under the apex body of University Grants Commission (UGC). The general concern that university’s prestige depends on their teaching and research activates rather than the other facilities. However, in Sri Lanka there is an ongoing debate that efficiency of some universities are affected by regional disparity, location or size. In this study we focus on measuring efficiency of all state universities in Sri Lanka using Data Envelpment Analysis (DEA). Further analysis focused on the degree of efficiency by regional disparity or the size of the university.Item Information and communication technology facilitated education in national universities of Sri Lanka(2013) Godamanna, E.H.; Jayamaha, A.The global adoption of Information and Communication Technology (ICT) has majorly captured the area of education, as it is the foremost important method to create a technology equipped generation. Uses of ICTs in education are widespread and are continually growing worldwide. However in many cases, the adoption has not kept its promises up to the expected standard. The main purpose of the study is to investigate the related factors that have a significant influence on the use of ICT facilitated education in National Universities of Sri Lanka. These factors contain the Organizational Factors, Individual Factors, Educator Factors, Technological Factors and Social/Cultural Factors. Further the study also aims at assessing whether ICT facilitated education in National Universities would improve the Digital Literacy of the students. The study uses a quantitative method to collect data on the population of graduates of national Universities of Sri Lanka. Questionnaire responses are analyzed for the findings and 176 graduates selected from the three national universities. The results of the study confirms that Organizational, Educator and Technological Factors act as barriers for effective implementation of ICT facilitated education in national universities of Sri Lanka. At the same time the expected outcome of ICT facilitated education which is improving the Digital Literacy has not achieved. Based on the findings, it is recommended that policy-makers should attempt to alleviate the concerns of barriers found and try to take steps to convert the barriers in a favorable manner.Item Efficiency of small financial institutions in Sri Lanka using data envelopment analysis(2012) Jayamaha, A.In Sri Lanka, the formal rural financial sector comprises a large number of small financial institutions (SFIs). Among SFIs, cooperative rural banks (CRBs) play an important role in meeting the rural credit needs in rural sector in Sri Lanka. CRBs have gained an increasing share of financial assets, which has been particularly helpful for satisfying the growing demand for loans and advances in poor people in the country. However, performance of SFIs in Sri Lanka is less than satisfactory and highly criticised today. Poor performance has been attributed to poor management of assets and consequently, the sustainability of these institutions is uncertain. Moreover, an attention to the efficiency of SFIs in Sri Lanka is more concern to the general public given collapses of several formal and informal SFIs. Hence, aim of this study is to evaluate the overall efficiency of SFIs in Sri Lanka by taking all CRBs operate in Sri Lanka. CRBs established in 1964 and end of 2010 there are 1,933 branches operate in all 25 districts of the country. Data envelopment analysis (DEA) is used to measure efficiency. The study found that the efficiency of CRBs in Sri Lanka have declined during the study period of 2005 to 2010. Further found that there were significant differences in the efficiency of CRBs by geographical locations and the efficient banks are closely associated with size of the Banks. The findings of this study may convince industry decision makers to establish more comprehensive policy settings for promoting particularly, CRBs activities, and overall all SFIs in Sri Lanka’s rural financial sector.Item Budgetary process and organizational performance of apparel industry in Sri Lanka(2012) Silva, L.M.D.; Jayamaha, A.The budgetary process has been a part of management control system of the organization. This process encourages managers to plan, consider the stakeholders involved, provides information for improved decision making, increases and enhances communication and coordination among departments, and for evaluation. This paper seeks to evaluate budgetary process of apparel industry in Sri Lanka (BPA) and see whether budgetary process has significant impact on performance of such industry. The budgetary process of apparel industry was assessed by using variables such as planning, coordination, control, communication and evaluation. The performance of apparel industry in Sri Lanka was examined by using Return on Assets. Based on the data extracted from apparel industry’s financial statements, correlation coefficients and regression analysis showed that budgetary process have significant associations with the organizational performance of apparel industry in Sri Lanka. This confirms that efficient apparel companies maintain sound budgetary process which contributes to higher levels of organizational performance.Item Best financial practices analysis and efficiency of small financial institutions: Evidence from cooperative rural banks in Sri Lanka(2011) Jayamaha, A.; Mula, J.M.Many small financial institutions (SFIs) in developing countries make great effort to provide efficient services to poor house holders. It is generally accepted that maintaining the best financial practices which are of importance in corporate governance mechanism of institutions, has a close relationship with the efficiency of financial institutions, although they are small. This paper seeks to test best financial practices of cooperative rural banks in Sri Lanka (CRBs) and whether these practices have a significant impact on the efficiency of these institutions. The financial practices of CRBs was assessed using ratios of capital adequacy, liquidity, asset quality, loan to deposit, profitability, loan portfolio yield, operational efficiency, and operational self-sufficiency. The efficiency of CRBs in Sri Lanka was examined by using Data Envelopment Analysis (DEA). Based on the data extracted from CRBs’ financial statements, correlation coefficients showed that several ratios have significant associations with the efficiency of CRBs. This confirms that efficient CRBs maintain best financial practices which contribute to their higher levels of efficiency.Item Virtual Teams in Sri Lankan Business Process Outsourcing Companies(2015) Gunasekare, U.L.T.P.