International Conference on Business and Information (ICBI)
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Item Corporate Governance and Financial Performance: A Study of Sri Lankan Banking Industry.(8th International Conference on Business & Information ICBI – 2017, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2017) Perera, W. T. N. M.; Aruppala, W. D. N.Corporate governance has become an emerging area of research because of its significant implications throughout the world while baking industry undertakes the critical and vital roles in the financial system; the well-being of the economy and the mechanism of the banking system interconnected. The concept of corporate governance has become conspicuous in conjunction with the banking industry. The main objective of the study is to discover the relationship between internal corporate governance structure and firms’ financial performance in the Sri Lankan banking industry. The correlation analysis is used to test the relationship between corporate governance and financial performance. This study found that there is a positive relationship exists between financial performance, number of board meetings and education level of the board of directors. Besides that, the study concludes that a negative relationship exists between financial performance, board size, the gender composition of the board of directors, outside directors and CEO duality. Consequently, this study concludes that there is no equivalence in the disclosure of corporate governance practices made by banks operates in Sri Lanka.Item Corporate Governance and Voluntary Disclosure Level: Evidence from Banking and Finance Companies in Sri Lanka.(8th International Conference on Business & Information ICBI – 2017, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2017) Panditharathna, K. M.; Abeywardana, N. L. E.Drawing on the Agency Theory, the main objective of this research is to identify the relationship between corporate governance variables and voluntary disclosure level in banking and finance companies listed in the Colombo Stock Exchange (CSE). Sri Lanka. This study developed a voluntary disclosure index which includes 83 items under 9 sub categories. Through the content analysis for the period between 2012 and 2015 exhaust to gauging the levels of disclosures and panel data analysis used to measure the relationships. Moreover this study used size of the board, proportion of independent directors, and board with female directors and a large audit firm as independent variables and size of the firm, profitability, age and leverage are used as control variables. Empirical results show that independent directors and female directors on the board have significant positive relationships with voluntary disclosures whereas the board size has an insignificant positive relationship with voluntary disclosures and there is a significant negative relationship between voluntary disclosures and corporate governance.Item Corporate Governance and Firm Performance(Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Panditharathna, K.M.This study examines the relationships between corporate governance attributes on firm performance of listed financial sector companies in Sri Lanka. Empirical analysis focused on 56 companies registered in the Colombo Stock Exchange (CSE) covering the industries of banking, finance and insurance for the years 2012, 2013, 2014 and 2015. The study used Ordinary Least Squares (OLS) method to analyze the data. The study finds that relationship between corporate governance and firm performance are not strong. Board size, proportion of independent directors and the proportion of female directors have not significant relationship with performance measures. But board effectiveness has a significant positive relationship with ROE. This study enables to companies to evaluate and restructuring of their board to enhance the performance of the company while contributing to the economic development of the country. Findings of prior study are more focused to the developed countries. This study fills that research gap and contribute to the present literature on corporate governance in the industries of banking finance and insurance.Item The Relationship between Board Characteristics and Earnings Management: Evidence from Sri Lankan Listed Companies(Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Kankanamage, C.A.Purpose: This paper aims to examine the impact of board characteristics on earnings management in Sri Lanka during the period from 2012-2015. Design/methodology/approach: This paper uses ordinary least squares regression (OLS) to examine the effect of board on earnings management for a sample of 160 listed firms in Sri Lanka from 2012-2015. Kothari, Lenon and Wesley (2005) performance adjusted discretionary accrual model used to measure the earnings management by using the discretionary accruals. Findings: This paper finds a significant relationship between board size, board composition, board financial expertise and board meetings and earnings management of the firms. Thus effective board of a firm is contributing to enhance the financial reporting quality and transparency. Practical implications: The findings based on this study provide useful information for regulators and the practitioners in the country to understand the significance of board characteristics of firms to constrain the earnings management and enhance the financial reporting quality and transparency. Further results provide useful information to the investors and other stakeholders in evaluating the existence of effective board characteristics in advance to put the confidence of the financial reporting quality and make their decisions.Item Corporate Governance and Firm Performance: A Study of Sri Lankan Beverage, Food and Tobacco Companies(University of Kelaniya, 2014) Kawshalya, P.; Aruppala, D.Corporate governance is a highly discussed topic which received the attention of corporate world during the last decade due to the paramount importance embodied within it for the company performance and stability. Basically corporate governance means the set of rules by which management of the company is directed and controlled. It attempts to ensure that managers and other insiders of an organization take measures or adopt mechanisms to safeguard the interest of stakeholders. With the global financial crisis which affected many of the world business giants, companies are highly concerned to improve their corporate governance practices and therefore today researchers also have a great awareness to carry out researches in this area. However currently in Sri Lanka context less researches available on Corporate Governance. This study focuses on “Corporate Governance and Company Performance” considering all Beverage, Food and Tobacco companies listed in Colombo Stock Exchange as at December 2013. Data was analyzed using the data of financial year 2012/13. Data was analyzed using SPSS statistical software and hypothesis were tested performing descriptive statistics, correlation analysis and regression analysis for collected data. According to the findings of the research corporate governance does not make a significant influence on companies ROE, ROA and EPS. Thus, study concludes that the determinants of corporate governance used in the study are not correlated to the performance measures of the organization.