Publications

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The Mediating Effect of Profitability on The Relationship Between Working Capital Management and Shareholder Wealth: Evidence from Colombo Stock Exchange
(Department of Accountancy, University of Kelaniya, Sri Lanka., 2024) Abeysinghe, A. M. N. D.; Wanigasekara, W. A. D. K. J.
The management of working capital plays a crucial role in enterprises and has a substantial influence on the wealth of shareholders. Working capital management, profitability, and shareholder wealth have emerged as significant subjects of discussion in contemporary discourse, since they have been acknowledged as expansive areas of study. The primary aim of this research was to investigate the mediating role of profitability in the association between working capital management and shareholder wealth, focusing specifically on empirical data from the Colombo Stock Exchange. The working capital management was measured using Current Ratio, profitability was quantified by Return on Investment and shareholders’ wealth was measured through Tobin’s Q. Data for the research was collected by examining the annual reports of 100 non-financial firms listed on the Colombo Stock Exchange. Upon conclusion of the study, it yielded findings that addressed the research inquiries, so signifying the successful attainment of the research aims. This paper examines profitability, working capital management, and shareholder wealth in Sri Lankan businesses. A weak, but significant association between working capital management and all factors was found based on the correlation analysis. It was found a significant impact of working capital management on shareholders' wealth. Further, the findings revealed a significant impact of working capital management on profitability and a significant impact of profitability on shareholders’ wealth. Finally, it was evidenced that profitability plays a partial mediation role on the relationship between working capital management and shareholders’ wealth.
The Mediating Effect of Knowledge Management on Intellectual Capital and Value Creation: Evidence from Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya., 2023) Karunarathne, W. V. A. D.; Weligamage, S. S.; Wanigasekara, W. A. D. K. J.
This paper aims to investigate the impact of Intellectual Capital on Value Creation mediated through Knowledge Management in Sri Lankan companies. The ‘static’ and the ‘dynamic’ aspect of knowledge and the theoretical models, which are based on the relationship between Intellectual Capital and Knowledge Management forced the authors to address this research problem. The study was based on the top corporate personnel’s views collected through a self-administered questionnaire. Out of 297 Public Listed Companies listed on Colombo Stock Exchange and 517 private companies registered in Ceylon Chamber of Commerce, 263 companies were selected as the sample. Value creation was measured through both non-financial value drivers and financial value drivers, which was an innovative feature of this study. The data was analyzed using multivariate analysis through Partial Least Square Structural Equation Modeling. The findings confirmed a partial mediation of knowledge management. Further, findings revealed a significant and positive impact of intellectual capital on value creation and a significant positive impact of intellectual capital on knowledge management. The impact of knowledge management on value creation was also a significant positive one.
Impact of Quality of Work-life on Employee Productivity in Divisional Secretariats of The North-Western Province of Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya., 2022) Ekanayake, E. M. P. P.; Wanigasekara, W. A. D. K. J.
Public sector organizations in Sri Lanka are running through public funds, and it is vital to use those funds in an impactive manner. To measure whether public organizations are running effectively, productivity is an important concept to study. Previous scholars have analyzed and identified an ideaof work-life quality related to employee productivity. The majority of early researchers found a relationship between quality of work-life and employee productivity, but they do not focus on measuringthe impact of quality of work-life on employee productivity. This study fills the said gap by investigating the effects of quality of work-life on employee productivity. Employee productivity was measured using ACHIEVE model, and quality of work-life was measured using the Walton model. In the Walton model, there are eight quality indicators of work-life working conditions, social integration, adequate and fair compensation, occupied space by work in life, use of capacities at work, social relevance, opportunities at work, and constitutionalism. The population of this study was all employees working in divisional secretariat offices in Northwestern province; thesample size was 375 and useda random sampling technique. This research was a basic type of explanatory research, and primary data was used. Data were collected from employees covering all sections of divisional secretariats in the northwestern province. The result of this study indicated that there is a positive relationship between quality of work-life and employee productivity. At the same time, quality of work-life has a significant impact on employee productivity. Of eight indicators of quality of work-life, only four have influenced employee productivity. They are social integration, constitutionalism, social relevance, and occupied space by work. Concern about providing formal and informal integration among employees, freedom of expression, fair treatment,, and focus on social responsibility in divisional secretariat offices are vital aspects of employee productivity.

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