Browsing by Author "Nanayakkara, K.G.M."

Now showing 1 - 9 of 9

The External Auditor’s Opinions and the Stakeholders’ Purposes: An Empirical Analysis in Sri Lanka
(University of Kelaniya, 2015) Wickramasingha, S.R.M.; Nanayakkara, K.G.M.
This paper specially investigate the Sri Lankan audit opinions and its’ effect to the investors’ decision making. It has been conducted the market-based model with a sample of thirty one (31) listed manufacturing companies on the Colombo Stock Exchange; the dependent variable “Stock Return” serve as proxy for Investors’ Decisions and independent variables are “Audit Opinions” published in Sri Lanka. The study use Anova test for the study. This research study’s final consequence is robust the notion of the audit opinions are not informative value to the investors’ decisions.
The External Auditor’s Opinions and The Stakeholders’ Purposes; An Empirical Analysis in Sri Lanka
(University of Kelaniya, 2014) Wickramasingha, S.R.M.; Nanayakkara, K.G.M.
Our paper specially investigates the Sri Lankan audit opinions and its’ effect to the investors’ decision making. It has been conducted the market-based model with a sample of thirty one(31) listed manufacturing companies on the Colombo Stock Exchange; the dependent variable “Stock Return” serve as proxy for Investors’ Decisions and independent variables are “Audit Opinions” published in Sri Lanka. This research study’s final consequence is robust the notion of the audit opinions are not informative value to the investors’ decisions.
Financial Statement Informativeness and Intellectual Capital Disclosures: With Special Reference to the Listed Companies in Sri Lanka
(Journal of Business and Technology, 2022) Ariyawansa, H.D.G.R.; Nanayakkara, K.G.M.
Growing demand for financial and non-financial information by the users of financial reports leads to an emphasis on the informativeness of financial statements. Thus, reporting reliable and relevant financial and non-financial information becomes vital, and investments in intellectual capital, being highly demanding information by the users, hold an important place in providing informative financial reports despite the lack of proper accounting recognition criteria in financial statements. Thus, our study aims to analyze the relationship between financial statement informativeness and intellectual capital disclosure in Sri Lanka. Financial Statement Informativeness was measured using the explanatory power of financial information in explaining market value. Content analysis of annual reports followed by a quantity and quality index of Intellectual Capital Disclosure was used to measure the Intellectual Capital Disclosures. A sample of 48 companies listed on the Colombo Stock Exchange that disclose Intellectual Capital was used, and empirical analysis was carried out using the Poisson regression method. A significant relationship between Financial Statement Informativeness and Intellectual Capital Disclosures has been found, suggesting that Financial Statement Informativeness plays a substantial role in providing disclosure on intellectual capital in financial reports. This study confirms to make managers aware of its significant and positive effect on financial statement informativeness in financial reports, given the importance of Intellectual Capital Reporting in mitigating the disparity of financial information. An important implication of the findings is that policymakers and regulators need to establish a uniform methodology for reporting Intellectual Capital to establish consistent disclosure practices.
Green Bond: A new debt instrument for environmental resilient projects
(Environmental Monitoring and Management, University of Peradeniya, Sri Lanka, 2021, 2021) Nanayakkara, K.G.M.; Colombage, Sisira
Identification of Challenges to Attract Public Private Partnerships for Power Generation Infrastructures: A Review
(Kelaniya Journal of Management, 2020, 2020) Fernando, S.N; Nanayakkara, K.G.M.
Although the required capital investments for electricity generation infrastructure from 2018 to 2037 have been projected around USD 14,568 in Sri Lanka, Ceylon Electricity Board is not in a position to meet this requirement ...
The impact of types of ownership on small firm performance in Sri Lanka
(Research Symposium 2010 - Faculty of Graduate Studies, University of Kelaniya, 2010) Nanayakkara, K.G.M.; Wijetunge, W.A.D.S.
Over the past 2years new and small firms have been identified by most economies as significant components of economic strategies for job and wealth creation. This has paved the way for a large amount of innovators to start new ventures. In the Sri Lankan context, according to the recent (2003/2004) banking survey done by International Finance Corporation on the Sri Lankan SMEs, SMEs constitute 80-90% of total establishments, 70% of employment and 20% of industrial value added. However recent literature shows that percentage of collapse of these newly started ventures is substantially high due to various reasons. Birley and Westhead (1990) pointed out that types of ownership directly affect the performance of small businesses. Businesses with one owner have been performed well and they have survived long time. Accordingly with the objectives of identifying different types of ownership and testing it against performance of SMEs in the Sri Lankan context, this study has been carried out. The sample consisting of 5small business owners, which was selected from the Gampaha District. The study followed the inductive method of research and the data was collected through a structured questionnaire and interviews. Data analysis was carried out using SPSS software which includes both descriptive statistics and parametric tests. The results of the study showed that the ownership of small firms concentrated on sole proprietors, partnership, family members and private limited and 78% of the small businesses are run by sole proprietors. Further the study revealed that the different types of ownership will affect the performance of the small firms.
Predicting Corporate Financial Distress in Sri Lanka With Reference to Z-Score Model
(University of Kelaniya, 2014) Nanayakkara, K.G.M.; Azeez, A.A.
Financial Distress is a problem spread all over the world from the history. Even though there are ample research studies on this area, the empirical results on this area provide inconclusive results. The majority of the research works focused only on the bankruptcy and not on the financial distress. Hence, the main purpose of this study is to develop a better financial distress prediction model for Sri Lankan companies using the Z-score model. Multivariate Discriminate Analysis (MDA) was used as the analytical technique and simultaneous estimation method has used to enter the variables in the analysis. The study has examined four accounting ratios for 134 distressed and non-distressed companies from 2002 to 2011. The study has found that the derived model which consists of four accounting ratios is capable of predicting financial distress of quoted public companies in Sri Lanka with 76.9% accurate one year prior to distress. Further, the model has the financial distress predicting ability of 74.6% and 67.2% two years and three years prior to distress respectively. This model can be used to assist investors, creditors, managers, auditors and regulatory bodies in Sri Lanka to predict the financial distress
Predicting Corporate Financial Distress in Sri Lanka With Reference to Z-Score Model
(University of Kelaniya, 2014) Nanayakkara, K.G.M.; Azzez, A.A.
Predictions of Corporate Financial Distress of Loan Applicant Companies in Sri Lanka: with Special Reference to Altman’s z Score Model
(Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Wijesinghe, J.P.G.M.; Nanayakkara, K.G.M.
The quest of finding a simple and accurate bankruptcy prediction system or model is in high demand by Commercial Banks to detect the present and future financial health of companies. One of their main tasks is to reduce the Non - Performing Loan ratio as much as possible expeditiously. Many researchers depend on different kind of models to predict the financial distress, but Altman’s Z-score model is being used significantly all around the world in different kind of organizations, due to the level of accuracy and simplicity of calculations. The purpose of this research is to determine the accuracy and predictability of Altman’s Z”-score model for non-performing loans in Sri Lankan context. This Research examined 41 currently non-performing loans and performing loans granted for private limited companies by a Commercial Bank in Sri Lanka. The study identifies that the Altman’s Emerging Market Scoring model (Z’’) has the ability to predict non-performing loans accurately by 85.4% and 80.49% for the loan disbursement year and one year prior to the loan disbursement respectively. When comparing the Altman’s model results with the existing credit evaluation system of the selected bank, Altman’s model shows a better prediction accuracy. As a consequence of the high accuracy rate and simplicity, the respective bank can use the Altman’s Emerging Market Scoring model to predict the loan performance of the customers as a supporting tool to their main credit evaluation system.