Commerce and Management
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Item Impact of Working Capital on the Liquidity and Profitability of the Listed Hotels and Travels Sector Companies of Colombo Stock Exchange in Sri Lanka.(8th International Conference on Business & Information ICBI – 2017, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2017) Haleem, H. M. M.; Aswer, A.A.This study focuses on the impact of working capital on the liquidity and profitability of the listed Hotels and Travels sector companies of Colombo stock exchange in Sri Lanka. In the case of competition among the business due to the globalization and rapid growth nature the working capital becomes vital important to operate the day to day function of the business and also working capital management is an important component of management of corporate finance since it directly influences firm’s profitability as well as liquidity in everyday activities. The purpose of this research is to contribute towards a very important aspects of Financial management known as working capital management with reference to Sri Lanka here the impact of working capital on the liquidity and profitability of listed hotel & travel sector in Colombo stock exchange for a period of five years from 2012-2016.20 hotels and travels sector companies listed in the CSE for a period of 5 years from the 2012 to 2016 including the total of 100 observations. As per the objectives the regression analysis has been performed which shows there is no significant impact of working capital on liquidity but it has a significant impact on profitability of hotels and travels sectors companies. Also the selected hotels and travels sectors’ firms are showing the negative relationship with the profitability therefore the firms in order to increase the profitability.Item The Impact of External Environmental Conditions on Corporate Capital Structure: Evidence from Hotels and Travels Sector in Sri Lanka(Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Perera, H.A.P.K.; Bandaranayake, S.In the modern financial era, companies adjust their capital structure to cope with the external and internal environmental conditions. The purpose of this study is to investigate the influence of external environment or in other words, institutional and macroeconomic conditions on capital structure decisions of firms listed under hotels and travels sector. The sample of the study comprised with 26 listed companies in hotels and travels sector of Colombo Stock Exchange over a period of 10 years from 2004 to 2013. The analysis is carried out by employing panel data econometric techniques. The empirical results demonstrate in overall institutional and macroeconomic conditions have significant influences on the capital structure decisions of firms listed in the hotels and travel sector. The findings of the study which is a featured departure from the previous studies which emphasize the role that prevailing institutional and macroeconomic conditions play in determining the capital structure decisions in the listed firms in Sri Lanka