Commerce and Management

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    Impact of Financial Literacy Levels among Sri Lankan Investors on Investment Choices
    (Department of Finance, University of Kelaniya., 2021) Tennekoon, S. T. M. S.; Liyanage, C.
    Purpose: The purpose of this study is to investigate the level of financial literacy among Sri Lankan investors and its impact on investment choices. Design/methodology/approach: The population of this study consisted of the individual investors of Sri Lanka. Accordingly, a sample of 352 responses were obtained through a survey which was conducted using structured self-administered questionnaire. The independent variable of the research is financial literacy with the dependent variable being the investment choice. Multinomial logistic regression was used to test the hypothesis. Findings: The results of the study revealed that the majority of investors in Sri Lanka are having low objective and subjective financial literacy. Further, the results revealed that financial literacy has a statistically significant impact on the current and future choice of different investment products as the main source of investment. Originality: Financial literacy level of individual investors was assessed by using the mean value of the financial literacy score, which has not been commonly used in the Sri Lankan context. This study further contributed to the local body of literature by analyzing the investors’ current main and secondary holdings of seven different
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    AN EMPIRICAL STUDY OF THE RELEVANCE OF ACCOUNTING INFORMATION ON INVESTOR?S DECISIONS
    (2010) Perera, R.A.A.S.; Thrikawala, S.S.
    Recent empirical work has suggested that Accounting Information (AI) have lost their relevance to investors significantly over the past few decades. AI contained in financial statements to be accurate and transparent enough to provide an indication of a business performance and financial condition to decision makers including investors. According to the present empirical evidence, investors tend to focus on information other than the published accounting information such as non financial information, short term capital gains and tend to be speculative or irrational for unusual events. Therefore, this study attempts to addresses the relevance of AI on investor?s stock market decisions in Commercial Banks registered under Colombo Stock Exchange (CSE) in Sri Lanka. The relevance of accounting data was measured by correlation coefficient between Market Price per Share (MPS) and selected accounting information such as Earning per Share (EPS), Return on Equity (ROE) and Earning Yield (EY). The data analysis was based on the AI in the published financial statements of Commercial banks registered under CSE. It covers a period of 5 years from 2006 to 2009. According to the findings there is a relationship between Accounting Information and Market Price per Share. Further it revealed that investors still consider Accounting Information which contain in the published financial statements of Commercial Banks registered under CSE for the stock market decisions in Sri Lanka.