ICARE 2017
Permanent URI for this collectionhttp://repository.kln.ac.lk/handle/123456789/18861
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Item Money Laundering and Terrorist Financing: Evidence from Sri Lanka(3rd International Conference for Accounting Researchers and Educators - 2017, 2017) Sivaguru, M.This study investigates the effectiveness of the procedures have been taken by domestic financial institutions to combat money laundering and terrorist financing. It examines the domestic legislation acts against money laundering and regulations pertaining to inwards remittances. This research consist with mixed methods approach for data collecting, analysis and to evaluate interviewed data from respective individuals. The population of the study consist with 25 selected licensed banks, 20 financial institutions and 100 retailers who have been engaged with money transfer businesses. The expected conclusion out of the findings in this study is that the financial institutions are complying with rules and regulations assigned by regulators, still there are limitations from both regulatory bodies and financial institutions to combat money laundering and terrorist financing in Sri Lanka.Item Business Ethics and Women Entrepreneurs, Sri Lanka(3rd International Conference for Accounting Researchers and Educators - 2017, 2017) Jayawardane, V.P.T.Women owned businesses in Sri Lanka, has increased significantly, creating a new generation of women entrepreneurs. This paper aims to outline the research connecting business ethics displayed by Sri Lankan women entrepreneurs when they are running successful businesses. Women entrepreneurs as decision makers come across ethical issues when managing their businesses. It has been identified that entrepreneurs come across ethical issues when they carry out their management responsibilities. Therefore, ethics and ethical perspectives in management are crucial for the success of women entrepreneurs. The focus of this paper is to encourage women entrepreneurs to maintain ethical practices that are essential for their business survival. This research was undertaken using data which was obtained using both primary and secondary sources. A structured questionnaire was used to obtain the primary data whilst secondary data was extracted from literature. Qualitative methodology was used for analysis and the total number of questionnaires distributed was 30 in a chosen sample of established women entrepreneurs of Sri Lanka. The study identified that there was a significant relationship between the ethical practices of the women entrepreneurs and the performance of their business. These findings contribute to a better understanding of how women entrepreneurs think and integrate business ethics into their decision-making. In conclusion, suggestions are made with essential business ethics which should be adopted by the women entrepreneurs in Sri Lanka as well as recommendations for future research.Item Are We on Track? A Theoretical Inquiry into Integrated Reporting Regulations in Sri Lanka(3rd International Conference for Accounting Researchers and Educators - 2017, 2017) Abeysinghe, A.A.C.Traditional corporate reporting focuses on financial outcome and is criticized against its less attention on non-financial aspects, which have implications on sustainability of a business firm. As a result of continued studies and debates an integrated reporting framework has been issued by the International Integrated Reporting Council by 2013. Sri Lanka has adopted it. However, practitioners of integrated reporting are still vague on this. This paper attempts to understand the possible reasons for this situation. The research is carried out by with not fieldwork, but analyzing the current version of integrated reporting framework in the context of a theoretical framework. This benefits from Stakeholder theory and stakeholder-agency theory. The analysis reveals that the current practice of integrated reporting based on IIRC’s integrated reporting framework, including initiatives suggested by the Integrated Reporting Council of SrI Lanka are not in the direction of satisfying intentions of reporting on sustainability of a business firm. The paper suggests a path for improving integrated reporting practice.Item The Value Relevance of Integrated Reporting: A Quantitative Study of Listed Companies in the Colombo Stock Exchange,Sri Lanka(3rd International Conference for Accounting Researchers and Educators - 2017, 2017) Deen, F.F.This paper investigates the value-relevance of information disclosures, particularly non-financial information presented in Colombo Stock Exchange (CSE) listed company integrated reports, under a voluntary setting. To draw meaningful comparisons, the sample size for this study contains 103 companies (cross-sector) “adopting” and “not adopting” integrated reporting for the period 2016. The research is based on the linear regression analysis. A modified Ohlson (1995) valuation model was used to test the value relevance of accounting information (i.e., book value of equity and net income) and nonfinancial information. To quantify non-financial information a self-constructed disclosure index was developed, and measured using the partial compliance approach. The empirical results implicate both book value of equity and net income are positively and significantly related to market value. However, in contrast to many findings, voluntary non-financial information disclosures of integrated reporting show positive yet insignificant association with market value. On the basis of these results, it is presumed to be due in parts to the large portion of ill-informed investors in the CSE incapable of incorporating disclosure of non-financial information when screening firm performance. Hence, it is recommended integrated reporting be made mandatory, on a “comply or explain” basis to alter investor perceptions in paying more attention to the materiality of non-financials, and influencing moral corporate behaviour to create value in the short, medium and long term.Item Impact of logistics processes on supply chain facilitative role in dairy industry in Sri Lanka: A Thematic Analysis(3rd International Conference for Accounting Researchers and Educators - 2017, 2017) Silva, S.S.S.; Ratnajeewa, D.R.Globally, supply chain and logistics have become main indicators to achieve performance developments. The dairy industry plays a key role in agro business as it provides significant contribution towards the economy of Sri Lanka. The industry is spread over a wide range, starting from small dairy farmers in rural areas through supply chain flow including collecting, processing, transporting and storing. Many difficulties can arise in different situations in the supply chain of the dairy industry, especially milk collection, transport of milk from farms to operational stations or plants. Therefore, this research was conducted on issues of operational performance in dairy industry. The main purpose of the research was to identify the impact of logistics process towards the supply chain facilitative role in dairy Industry in Sri Lanka. Additionally, this focuses on identifying the effective process in collection, processing system and supplier connectivity. This study was conducted with ten companies in Colombo and sub areas, selected using the purposive sampling method. The research was done as a qualitative study; a thematic analysis. Ten dairy companies were selected in different scale, opportunities and environments. Through the analysis it can be concluded that key logistics functions have a greater impact on supply chain facilitative role while optimizing the operational performance. While the majority of the participants interviewed expressed certain negative comments about problems in dairy industry, almost all considered in this study have taken steps to reduce the negative aspects and issues as much as possible, but with more strategies to be implemented further.Item Legal Protection for the Plant Varieties in Sri Lanka: A Comparative Study(3rd International Conference for Accounting Researchers and Educators - 2017, 2017) Pathiraja, P.M.A.S.Sri Lanka has been identified as a rich biodiversity hotspot of species among flora and fauna in the world. Currently, its biodiversity is under threat due to the bio piracy. Sri Lanka has enacted some legislations to protect plant verities, which provide only the physical protection of the plant resources and the lack of proper legal protection for the genetic resources of plants is a great weakness of the existing legal framework in Sri Lanka. The importance of protecting plant varieties through intellectual property rights are addressed by the Agreement on Trade Related Aspects of Intellectual property rights, 1994 (TRIPS).Furthermore, the International Convention for the Protection of New Varieties of Plants, 1991 (UPOV) aims to encourage the development of new varieties of plants and provides some standards and guidelines for such protection. Accordingly, Sri Lanka has opted for a sui generis system for the protection of plant varieties and taken steps by introducing a Bill on Plant Variety Protection (Breeder’s Rights) which was drafted in 2001. Sixteen years later, there is still no progress regarding it. Therefore, the main purpose of this research is to make suggestions to strengthen the draft Bill on Plant Variety Protection (Breeder’s Rights), 2001 in Sri Lanka and set a policy framework for establishing a legal, institutional and social infrastructure by analyzing the effectiveness of existing laws and regulations. The methodology adopted for this research is purely a qualitative approach and it is generally and specifically categorized. The comparative analysis of successful legal position in India has been used in order to strengthen the recommendations.Item Entrepreneurial Orientation and Total Quality Management: Evidence from an Automobile Sensor Manufacturing Organization(3rd International Conference for Accounting Researchers and Educators - 2017, 2017) Soysa, R.; Wijethilake, N.W.M.U.C.B.Entrepreneurship plays an important role in today’s dynamic business world. One of the key factors of achieving organizational success is the application of Total Quality Management (TQM). In particular, this study examines; (i) what entrepreneurial characteristics support the implementation of TQM best practices and (ii) how entrepreneurs implement TQM best practices. The study examines the proposed research objectives by referring to the case organization of Lanka Harness Limited, an automobile seatbelt sensor switches and harness manufacturing organization for world’s leading automobile brands. Training, inculcating a quality culture, trust culture coupled with Toyota Production Quality Management System resulting a unique Lanka Harness System, adopting lean manufacturing techniques developed by Japanese quality systems were recognized as how entrepreneurs implement TQM best practices. Therefore, this study contributes to expand the organization adheres to strict quality standards where the defect tolerance rate is one part per million (1 ppm) outputs. The case organization has no competitors thus making it a unique organization that has achieved the highest quality standards. The boundaries of knowledge pertaining to entrepreneurial orientation and TQM especially in the Sri Lankan context. The study concludes with a discussion of the insights generated by the findings linking with theoretical knowledge and directions for future research.Item Analysis of Dependence of Capital Efficiency on Company Size: Evidence from CEE Countries(3rd International Conference for Accounting Researchers and Educators - 2017, 2017) Fashchuk, Y.; Lace, N.; Bistrova, J.Large businesses have certain inherent advantages over smaller companies. Larger companies enjoy the benefits associated with economies of scale and higher penetration into the market and thus experience higher return on their capital. Stronger negotiating power provides larger companies with a competitive advantage in attractive capital and more favorable financial conditions. This research examines the effect of firm size on capital efficiency based on the analysis of companies in Central and Eastern Europe over the period from 2007 to 2014. The size of firms in the study is measured as annual market capitalization and ranges from the largest to small ones. Capital efficiency is measured as return on equity (ROE), return on assets (ROA), return on capital employed (ROCE) and cash flow return on investment (CFROI). Descriptive statistics, correlation analysis and regression analysis were carried out in relation to the objectives of the study. Findings from descriptive statistics indicated that large CEE companies have more equity in their capital structure than small ones that rely mostly on debt financing. Correlation analysis revealed the presence of weak positive relationship between ROA and ROCE and company size. However, regression results suggest that for companies located in Central and Eastern Europe firm size does not provide information in explaining capital efficiency.