Browsing by Author "Rajapaksha, R.A.S."

Now showing 1 - 6 of 6

Corporate Governance and Financial Statement Frauds: Evidence from Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Rajapaksha, R.A.S.; Wijerathna, A.G.H.S.K.; Muthunayake, H.; Weerawickrama, V.L.
With the increased number of frauds taking place in the corporate world regulators and policymakers around the world have been making attempts avoid or reduce the frauds. Implementation of corporate governance code can be identified as one of the major mechanisms implemented against frauds. However, regardless of the implementation of such mechanisms still the frauds continued to be taking place. Accordingly, an attempt should be made to identify the extent of influence of Corporate Governance Code in the prevention and detection of frauds in the companies. The study was conducted based on 40 listed companies in Colombo Stock Exchange. The occurrence of the financial statement frauds was measured by incorporating Beneish M Score model. Corporate governance has been measured in terms of audit committee, CEO duality and Board Composition. As per the results of this study the corporate governance, board composition and CEO duality does not have a significant impact on the financial statement frauds. However, the results suggest that existence of audit committee has significant impact on the financial statements frauds. The existence of audit committee ensures the effective operation of internal controls which can prevent and detect frauds to a large extent.
The Impact of Green Marketing on Consumer Purchase Intention: Evidence from Sri Lanka
(International Postgraduate Research Conference 2019, Faculty of Graduate Studies, University of Kelaniya, Sri Lanka, 2019) Rajapaksha, R.A.S.; Tilakasiri, K.K.
The environmental issue is the common and major problem faced by every single country’s government. This situation leads to accept the concept of Green Marketing in most of firms. Due to the increasing of global warming and climate changing, the public concern about environmental problem is continuously increased over the past decades. Most consumers and businesses have begun to move to eco-friendly products as they pay more concern on the environment, health and wealth. The aim of this study is to identify the impact of Green Marketing on Consumer purchase intention toward personal care products. Based on the literature review, three Green Marketing tools were identified which are predicted Consumer’s purchase intention. They are Eco labeling, Eco brand and Environmental advertisements. The study is mainly based on the primary data. The primary data were collected through closed structured questionnaire from 397 respondents from Colombo district and used unilabiate and bivariate analysis techniques in order to analyze data and find the results of study objectives. The results show that Eco brand is having high level of contribution to determine the purchase intention of consumers and Green Marketing dimensions significantly and positively impact on Consumer’s purchase intention and among them Eco labeling and environmental advertisements having more impact on consumer purchase intention towards personal care products. Thus findings of the study are significant and practical implication in marketing
The Impact of IFRS Adoption on Financial Ratios
(4th International Conference for Accounting Researchers and Educators, Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2018) Rajapaksha, R.A.S.; Kawshalya, M.D.P.
Since the world economy is getting globalized, past practices of accounting may not be able to satisfy the information requirements of global stakeholders. Therefore the concept of harmonizing the accounting practices has been put forward and realized by the implementation of International Financial Reporting Standards (IFRS) issued by International Accounting Standard Board (IASB).The main purpose of this research is to examine the impact of IFRS adoption on financial ratios in Sri Lankan listed manufacturing sector companies. The data was collected for the period of eight years from 2008/2009 to 2015/2016 using annual reports published on listed manufacturing sector companies. The total sample period is divided to two parts as pre IFRS and post IFRS for comparison. The ratios which are selected for the analysis are current ratio, earning per share, debt to equity ratio & return on equity ratio. The findings of the study suggests that there is no significant difference between the ratios calculated as per previous accounting standards and after adopting IFRS except return on equity ratio. Through the impact was not found to be significant for debt equity ratio and current ratio. These findings would be useful since data used for the current study is more recent than most IAS or IFRS studies around the world and are stratified to allow for comparison between voluntary/early adopters and mandatory/late adopters
Impact of IFRS Adoption on Financial Ratios: Evidence from Listed Manufacturing Companies in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Rajapaksha, R.A.S.; Kaushalya, M.D.P.
With the emerging trend of developing global businesses around the world instead of setting up businesses restricted to one geographical boundary, the need of having a common set of financial reporting standards became much needed to enable the users of financial statements to make consistent decisions. In response to this, International Accounting Standard Board (IASB) introduced International Financial Reporting Standards (IFRS) which led Sri Lanka also to adopt IFRS compatible Sri Lanka Financial Reporting Standards in 2012. Accordingly. This study investigates the impact of IFRS adoption upon the key financial ratios of listed manufacturing sector companies in Sri Lanka. The data were collected for the period of eight years from 2008/2009 to 2015/2016 by using annual reports published on the Colombo Stock Exchange (CSE). The total sample period is divided into two-part as pre-IFRS & post IFRS adoption periods for comparison. The ratios which are selected for the analysis were current ratio, earning per share, debt to equity ratio & return on equity ratio. The findings of the study suggested that there is a significant difference between the ratios that were current and earning per share, calculated as per previous local accounting standards and as per IFRS. The impact was not found to be significant for the debt-equity ratio and return on equity ratio. The IFRS adoption is more likely to exhibit a favorable impact on financial statements. This study adds new knowledge to the existing literature of IFRS adoption since the data used are more recent than most IFRS studies around the world and the study focuses on the content of developing countries while most of the other studies have been carried out in the context of developed countries.
The Influence of Corporate Governance on Earnings Management in Listed Manufacturing Companies in Sri Lanka
(International Conference on Business and Information (ICBI – 2019), [Accounting, Finance and Economics], Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2019) Rajapaksha, R.A.S.; Tilakasiri, K.K.
The main objective of this paper is to investigate the influence of corporate governance on earnings management. Unlike most prior studies in the area, focused mainly on US firms, this study looks at the listed manufacturing companies in Sri Lanka. The study used secondary data of 30 manufacturing companies (2013-2017). The findings of the study reveal that board members with Finance expertise has a negative significant relationship with earnings management. This confirms that board members with finance expertise lead to reduce earnings management. Further, CEO duality has a negative significant relationship with earnings management. This means that firms which have two separate positions for chief Executive Officer and chairman are more effective in reducing earnings management. Moreover, it is revealed that board meeting has a positive significant relationship with earning management.
The Relationship between Fiscal Policy and Economic Growth in Sri Lanka
(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, 2020) Rajapaksha, R.A.S.; Tilakasiri, K.K.
Fiscal policy perform an important role to achieve macroeconomic objectives. Government revenue is mainly based on tax revenue. Capital Expenditure and Recurring expenditure are the parts of the Government Expenditure. The objective of the study is to identify the relationship between Fiscal Policy and Economic Growth in Sri Lanka for the period of 2000-2019. The dependent variable of the study is Economic Growth and it is determined by Fiscal policy components (Independent variables) such as government revenue (GR) and government expenditure (GE). Correlation and Regression analysis were used to identify the impact of fiscal policy on Economic Growth. The study results are showed that there is a strong positive relationship between Government expenditure and gross domestic product. Consequently, there is a strong negative relationship between Government revenue and gross domestic product. The study findings support the Keynesian theory.