Junior Research Symposia
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Item Impact of Liquidity on Profitability: With Special Reference to Listed Manufacturing Companies in Sri Lanka(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Hirantha, P.A.N.; Rajapakse, R.M.D.A.P.The ultimate goal of the companies is to enhance the wealth of the shareholders. For that purpose, the liquidity and profitability plays the vital and crucial role. That brings the problem that provided the basis for his research “how liquidity effects on profitability of listed manufacturing companies in Sri Lanka?” Especially the liquidity and its management affects to a great extent to the growth and profitability of a firm. The liquidity management becomes most important one as the inadequate liquidity may injurious to the smooth operations of the firm as well as the excess liquidity can be disturbed to achieve the greater profits. In this way, the present study is aimed to investigate the relationship between liquidity and profitability. The analysis is based on quarterly data of 20 manufacturing companies listed in the Colombo Stock Exchange over a period of past six years from 2010 to 2015. Return on equity and Return on assets were used as the dependent variables while Quick ratio, Current ratio and Liquid ratio were used as independent variable. Correlation and regression analysis as well as the descriptive statistics were applied in the analysis and findings suggest that there is a significant relationship exists between liquidity and profitability listed manufacturing companies in Sri Lanka. According to this study there has an influence in liquidity on the profitability of manufacturing companies.Item Performance Measurement and Employee Incentive of Manufacturing Companies in Sri Lanka(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Hearth, H.M.D.M.; Rajapakse, R.M.D.A.P.Performance measurement system would play a key role in communicating, evaluating and rewarding the achievement of strategic objectives. Many manufacturers have instituted programs to reduce costs and improve their operations but frequently fail to evaluate whether their operational changes achieved their desired results. An active performance measurement system can help to determine areas to improve before invest or money. Organizations adopt performance measurement systems typically classified as financial and non-financial measurements. Some manufacturers even use performance measurements to determine compensation and incentive bonuses. This research attempt to assess the performance measurement in manufacturing companies and plan the employee incentives like the adding the short term cash benefits for basic salary of their. The findings were that company performance has significant relationship with employee incentive in manufacturing companies in Sri Lanka. The findings have shown significant relationship EVA, ROA and ROI with employee incentive. This paper recommends that management must identify the both financial and nonfinancial performance measurement to determinate the employee incentive. This method is important to achieving of business objectives and whether the main purpose of that maximizes their own utility instead the interest of shareholder.Item The Impact of Foreign Direct Investment on Economic Growth in Sri Lanka(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Gunarathna, T.M.S.; Rajapakse, R.M.D.A.P.The growth of international production is driven by economic and technological forces. It is also driven by the on-going liberalization of Foreign Direct Investment (FDI) and trade policies. The growth of FDI has been focused in several studies examining the channels of transmission between FDI and growth. Economic models of endogenous growth were combined with studies of diffusion of technology in an attempt to show the effect of FDI on the economic growth of several economies The FDI is assumed to benefit to underprivileged country like Sri Lanka, not only by adding internal investment, but also in terms of employment creation, transfer of technology, increased domestic competition and other positive externalities. According to the Sri Lankan context Sri Lanka follow the attractive policies to accept FDI in to the country. As the result of this FDI has increased last year’s gradually. This paper seeks to identify that is there any relationship between foreign direct investment and economic growth in Sri Lanka. Data is collected by using secondary evidence. Data get from central bank report in Sri Lanka. Data is analysed using regression method. According to the data analysis there is positive relationship between FDI and Economic growth in Sri Lanka however the relationship is not significant.Item The Effect of Disclosure of Corporate Social Responsibility on Financial Performance in Manufacturing Companies: from Manufacturing Companies in Sri Lanka(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Farook, T.N.; Rajapakse, R.M.D.A.P.Today’s competitive and dynamic market environment has formed new set of tasks for any business which are not only connected to economics. To survive and grow, firms must connect the gaps in economic as well as social systems. Maximizing shareholder wealth is every time important, but satisfying that condition alone is no more valid in computing the financial success. Corporate Social Responsibility is significant and fundamental to the sustainable functioning of businesses. Similarly, financial performance is undoubtedly fundamental to the continued functioning of any company. The purpose of this Research is to study the relationship between corporate social responsibility disclosure percentage and the financial performance of manufacturing companies in Sri Lanka. Sample of study is the highest share volume of 20 companies listed in the Colombo Stock Exchange (CSE) in the manufacturing sector and data were collected over a five-year period from 2011 to 2015, this study explores and tests the significant of the relationship between corporate social responsibility disclosure percentage and financial performance. According to the result of the significant relationship between corporate social responsibility (CSR) disclosure percentage and financial performance. According to that that Sri Lankan listed manufacturing firms should step up their Corporate Social Responsibility programs and disclosures most especially environment, community, employee, and consumer responsibilities. Because of Corporate Social Responsibility is impact to the Corporate Performance as significantly.Item Relevance of Financial Indicators on Investor’s Decisions in Banking Sector in Sri Lanka(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Bandula, M.G.V.M.; Rajapakse, R.M.D.A.P.Shareholders use financial indicators as their main source of obtaining the information regarding the performance of a business. Business entities do have to prepare and present their financial information in a way that can be useful to investors and attract them. Accounting Information contained in financial statements should be accurate and transparent enough to provide an indication of a business performance and financial condition to the decision makers including investors. According to the previous studies related with this topic, investors tend to focus on information contained in financial statements. The main objective of this is to study the validity of Accounting Indicators (AI) for investor‘s decision in Banks registered under Colombo Stock Exchange (CSE) in Sri Lanka. The validity of Accounting Indicators was measured by correlation coefficient between Market Price Per share (MPS) and selected Accounting Indicators as Earning Per Share (EPS), Return On Equity (ROE) and Earnings Yield (EY). The sample was based on the Accounting Indicators derived from the published financial statements of the Commercial Banks listed under CSE. It covers a period of 5 years from 2011 to 2015. According to the results there is a significant relationship between Accounting Indicators and Market Price Per Share. Further it concluded that the investors still tend to consider Accounting Indicators obtained through published financial statements of Commercial Banks in Sri Lanka for investment decisions. Therefore the companies when preparing their financial statements have consider this in to fact an present them in a way that is easily understandable to the investors.