Browsing by Author "Tilakasiri, K.K."

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Analyzing the impact of corporate social responsibility on corporate financial performance in covid-19 pandemic period: evidence from CSE listed companies in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Thenuwan, D.M.D.; Tilakasiri, K.K.
The concept of Corporate Social responsibility is an important area to discuss in Sri Lankan corporate sector. Therefore, this study is mainly focused to examine the impact of the Corporate Social Responsibility activities on firm performance on pre and during COVID-19 Pandemic period while considering the four types of CSR activities that will be considering by using the GRI discloser index. The study will develop a CSR scoring model to measure CSR with considering the lack of usage of the GRI guidelines of Listed companies in Sri Lanka. This research will use the return on equity (ROE) and Return on Assets (ROA) to measure the financial performance of the organization. The population of the study is all public listed companies in Colombo Stock Exchange and sample size was 50 companies. Since Sri Lanka had faced with covid 19 during the year 2020 onwards, the analysis will be divided into 2 phases whereby 1st phase will be named as “pre-covid period” from 2015 to 2019 and the 2nd phase will be named as “Post-covid Period” from 2020 and 2021. Data will be analyzed using Descriptive Statistics, Pearson Correlation and Panel Data Regression Analysis. Mean, standard deviation, variance graphs and tables will be used to discuss the findings, according to the descriptive analysis. Regression analysis used for testing the relationship between employee, environmental, social and market corporate social responsibility and firm financial performance. Findings of this research helps to take decisions of the stakeholders of companies in Sri Lanka. Finally, such information will help the investors, decision makers, regulators, policy makers and scholars to improve their knowledge about sustainable reporting practices.
Anti-Money Laundering and Countering of Terrorist Financing: Factors Affect to Prevent Money Laundering and Terrorist Financing in the Financial Institutions – Evidence from Sri Lanka (Western Province)
(5th International Conference for Accounting Researchers and Educators (ICARE – 2019), Department of Accountancy, Faculty of Commerce & Management Studies, University of Kelaniya, Sri Lanka, 2019) Manoj, S.D.; Tilakasiri, K.K.
Preventing money laundering and terrorist financing is a major national and international problem today. Several attempts have been made to prevent money laundering by national and international dimensions. These are often counteracted by the multi dynamic nature of the crimes. However, launders are often to use remittance systems to clean their ill-gotten money. This study presents the role of domestic financial institutions and the effective practices and actions that can be implement within domestic financial institutions to control and prevent financial crimes. This research highlights the progress that requires in Sri Lanka to prevent money laundering and terrorist financing, further it is an original contribution to the knowledge in an under researched field in Sri Lanka.
The Banking, Insurance and Finance Sector’s Contribution to Sustainable Growth: Evidence from Sri Lanka
(19th Conference on Postgraduate Research, International Postgraduate Research Conference 2018, Faculty of Graduate Studies,University of Kelaniya, Sri Lanka, 2018) Tilakasiri, K.K.
Many studies have defined the different way of sustainability development and sustainability terms. However, this study uses these terms for the environmental concerns. Sustainable development is development which meets the needs of current generations without compromising the ability of future generations to meet their own needs (Brundtland Commision 1987). The purpose of this study was to identify the organisations’ work with environmental issues more specifically when they work with the business objectives. Manufacturing, and other production organisations’ contribution to sustainable development is high level. Many authors describe their contribution is high because production process finally include by products that pollute the environment. Therefore, manufacturing firms were forced to formulate and implement the necessary actions to reduce the environmental pollution. Thus, banks insurance and finance sector work with many people and those work capacity is higher than the other activities of the other firms. So their contribution is needed to understand the triple bottom lines, economic, societal and environmental. This was a qualitative studies and sample selected from the banks insurance and finance industry’s fifteen companies. Those organisations top management were interviewed for understanding the present sustainable development activities and understand the limitations future of the sustainability development. The study concluded banks and insurance firms have sustainability strategies to go for the sustainability development. A majority of the insurance companies use these strategies for the sustainability development, but strategies apply to different aspects of sustainability development and go into varying degrees of detail. The rest of the organizations already have the strategies to develop the sustainability of their firms however, their major activities not only the sustainability development.
The causal relations among stock prices and the macro economic variables: Evidence from Sri Lanka
(Faculty of Graduate Studies, University of Kelaniya, Sri Lanka, 2002) Tilakasiri, K.K.
Corporate Social Responsibility and Social, Economic and Environmental Development in Sri Lanka
(Department of Human Resource Management, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2013) Tilakasiri, K.K.
This study reports Corporate Social Responsibility (CSR) and its present contribution of Sri Lankan context. CSR is renowned and known concept however, it is a new concept in Sri Lanka and research into this area relatively scarce compared with other Asian developing countries like India, Pakistan, Bangladesh, Indonesia, Malaysia and China. Furthermore, this study reveals complete on the theoretical development and the current CSR practices in Sri Lankan organisations, based on the literature and the researcher’s CSR experience tried to achieve the research objectives which was to identify the basic activities of CSR that was implemented in the Sri Lanka’s organisations. Government and non-government organisations (NGO) have been implemented rules and regulations for community development, health and education development as well as environmental development, which are part of the CSR plans identified by international CSR standards. The government and the private sector both favour the adoption of CSR concepts, and are attempting to promote the implementation of CSR programmes in Sri Lanka.
The corporate social responsibility of Sri Lankan universities
(Faculty of Social Sciences, University of Kelaniya, 2009) Tilakasiri, K.K.; Glynn, J.; McCarthy, G.
Cultural relevance to sustainable reporting in Asian and European banking
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Dhananjaya, S.D.B.; Tilakasiri, K.K.
The foundation of creating a corporate sustainability environment is sustainability reporting. This research study mainly focuses on how does cultural relevance impact sustainability reporting in Asian and European banks? the sample consists of 25 banks from 20 banks in Asian countries and 10 banks in European countries. More specifically investigate whether Hofstede’s cultural dimensions are associated with a bank’s sustainable reporting and whether this association differs between banks from the Asian region and the European region. the GRI financial services sector supplement is used in this study to evaluate sustainability reporting. the dependent variable is sustainable reporting, which consists of economic indicators, environmental indicators, and social indicators. these variables are measured by the disclosure index of sustainability reporting guidelines from GRI g4. the result shows that sustainability reporting in European is higher than in Asian. the premise that there are major discrepancies in sustainability reporting between the two regions is further supported by different test results. according to the study, cultural values could have a big influence on sustainable behaviors. the current analysis offers insightful information about the sustainable reporting methods of public and commercial banks operating in Asia and Europe. in terms of data, Hofstede dimensions were established and developed more than 30 years ago, and dimensional scores have not changed over time. the study only examines the type and range of sustainability disclosure made by commercial banks doing business in Asia and Europe. the current analysis also ignored sustainability's economic indicators. future studies may address these problems. the banking industry and all other stakeholders should benefit from this study's insights on the challenges of implementing sustainable reporting in Europe and Asia.
Determinants of Tax Compliance among Small and Medium Sized Enterprises in Colombo District
(International Postgraduate Research Conference 2019, Faculty of Graduate Studies, University of Kelaniya, Sri Lanka, 2019) Weerawickrama, V.; Tilakasiri, K.K.
Tax compliance is imperative to any nation since it determine, slackens income tax administration and government tax revenue. This study is about the “Determinants of tax compliance among Small and Medium sized Enterprises (SMEs) in the Colombo district”. Taxation is a system of imposing financial charge or levy on an individual or a legal entity by a state. A sub-national entity could also impose taxes. Taxation is the most important source of revenues for any governments, typically accounting more than 90% of their income. (Central Bank report in Sri Lanka 2017). The remainder of government revenue comes from borrowing and from charging fees for services. Countries differ considerably in the amount of tax they collected. The SMEs are considered as the backbone of the any economy and it provides a significant contribution to the government tax revenue. Hence the main purpose of this research is to analyze the impact of demographic factors, tax payers understanding of the tax laws, government accountability and perception on tax system on the SME tax compliance. The current study has gathered the primary data from 120 SMEs in Colombo district to address the population of SMEs in Sri Lanka by using a questionnaire method. It has used descriptive measures, correlation and regression analysis to analyze the data. It has found that understanding of the tax law, perception on government accountability and perception on tax system are positively influenced to tax compliance in SMEs in Colombo district while gender of tax payers not influenced to the tax compliance. The findings of this study could help the organization to make suitable alteration or to take corrective actions in their tax practices. Furthermore, this study will help to identify the attitude of the SME about taxes. And also opinion from the individuals may lead to more practical solutions for the Department of Inland Revenue.
The Effect of Corporate Governance Mechanisms on the Degree of Integrated Reporting in the Listed Companies on CSE
(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2023) Chiranthana, U.H.; Tilakasiri, K.K.
This study aimed to evaluate the effect of corporate governance mechanisms on integrated reporting in the listed companies on CSE. The sample of this study includes annual reports of 40 listed non-financial companies in Sri Lanka under market capitalization that reported IR disclosure information for five years during 2018-2022. This research used secondary data, data taken from the annual reports issued by the companies. The study considered four corporate governance mechanisms as independent variables that are board composition, board size, board diversity and ownership structure. The dependent variable is IR which is measured by using the Integrated Reporting Disclosure Index. Qualitative descriptive panel data analyses were used to analyze the information contained in the reports to recognize the impact of Corporate Governance Mechanisms on IR. Research results suggest that there is a positive significant impact of board composition, board size and ownership structure on disclosure of integrated reporting. However, there is no impact of board diversity on the disclosure of IR. Therefore, this study contributes to the current literature on IR in the Sri Lankan context. In order to avoid agency conflict, minimise the information asymmetry among stakeholders and maintain long-term relationships with their stakeholders, disclosure of integrated reporting information can be favourable for a company. The findings of this study also provide insights for policymakers and practitioners with regard to IR disclosures in companies that prepare integrated reports and need to establish specific guidelines in this respect.
Effect of Corporate Governance on Firm Capital Structure; Evidence from Sri Lankan Context
(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, 2020) Manawadu, J.C.; Tilakasiri, K.K.
This study explores the effect of corporate governance on firm capital structure in Sri Lanka. Though the governance on financial decisions has much researched in developed country context, scarcely any local studies have been found. Moreover, prior empirical studies have presented mixed results and have failed to identify most significant governing attributes affecting capital structure. This study fills this gap by taking into consideration significant attributes. Therein study aims to explore the effect of governance mechanisms such as board independence, CEO duality, board committees and board independence on capital structure decisions in Sri Lanka. Multiple regression analysis is employed to identify the association between corporate governance attributes and capital structures of Sri Lankan firms. This study employs a representative sample of all non-financial sector companies for a 5 years of latest period from 2014 to 2019. The sample comprises of 50 non-financial firms and 250 firm-year observations. Thereby, the paper will be of much value for leading Sri Lankan corporates to successfully compete by understanding importance of corporate governance on firm decisions. Educators are expected to gain knowledge and potential researchers will also be beneficiaries.
Estimation of Utility and Weight of Factors of Bus Transit’s Service Quality
(Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Sharic, A.H.M.S.; Tilakasiri, K.K.
Service quality plays a major role in the bus transit operation and lack of service quality is one of the prime reasons for the dissatisfaction of the passengers towards bus transit. This paper investigates five elements of service quality attributes such as walking time to bus halt, waiting time at bus halt, travel time, in bus environment and station environment using conjoint analysis using certain values for those elements. Through data analysis, utility estimate for walking time to bus halt shows a greater significance on the passengers evaluation which is followed by in bus environment, waiting time, station environment and travel time. Then the weight of the factors are obtained through utility estimate which finds that passengers' value time spent on reaching bus halt the most followed by waiting time at bus halts, in bus environment. But in the station environment passengers show little interest on the travel time.
Exploring the nexus: macroeconomic factors and reported money laundering cases – a cross-sectional analysis in Sri Lanka
(The Library, University of Kelaniya, Sri Lanka, 2023) Tilakasiri, K.K.; Sivaguru, Dinesh
In today's global landscape, money laundering and terrorist financing present formidable challenges. This study investigates potential correlations between Sri Lanka's macroeconomic factors—specifically GDP, Foreign Direct Investment (FDI)—and reported money laundering cases. Leveraging qualitative data from the Central Bank of Sri Lanka (CBSL) and employing linear regression analysis, the research adopts a qualitative approach to unravel the nuanced connections between economic conditions and financial crimes. The primary purpose of this research is to identify and understand the relationships between Macroeconomic Factors and Reported Money Laundering Cases. The findings hold the potential to provide valuable insights for policymakers, financial institutions, and law enforcement, contributing to the development of more effective anti-money laundering strategies and policies tailored to Sri Lanka's unique context. The anticipated findings aim to shed light on the intricate interplay between GDP, FDI, and money laundering instances, offering a deeper understanding of the challenges faced by Sri Lanka. Such insights could pave the way for more informed decision-making in combating financial crimes. The implications of this study extend beyond academia, with practical applications for shaping policies and strategies that address the specific dynamics of money laundering in Sri Lanka.
How Corporate Social Responsibility (CSR) Concept is Practiced by Sri Lankan Universities? Comparison Study between 2008 and 2017.
(In: Proceedings of the International Postgraduate Research Conference 2017 (IPRC – 2017), Faculty of Graduate Studies, University of Kelaniya, Sri Lanka., 2017) Tilakasiri, K.K.
Researcher has identified in 2008 corporate social responsibility (CSR) activities in universities in Sri Lanka. Accordingly, he concludes that lecturers, students and non-academics in universities do CSR activities to some extent. At that time CSR concept was a newly introduced concept and few research studies were done relating to Asia, Africa and Latin America. Specifically, Sri Lankan CSR studies were very few; not the government organisations many private companies and public limited companies about 50% implemented the CSR activities as a voluntary activity. However, still this concept has engendered considerable interest in Sri Lanka and other countries in recent years. However, many research articles have been performed in the education sector. Aim of this study was when comparing the period of 2008, how far the concept being accepted by the universities in Sri Lanka. If they were accepted those, what limitations could be identified for the sustainability purposes. Also, if not what are the reasons for not applying this valuable concept. Using criteria based on international and national research this paper explores the understanding in CSR in Sri Lankan universities and highlights the CSR activities currently undertaken. Initial findings support the view that CSR in developing countries primarily focus on economic and philanthropic dimensions. The study gathered information from 8 national universities out of 15. Students and lecturers engaging in the CSR activities are considered for the study. As the sample of the study that was taken 50 university lecturers. Out of 50, twenty-five lecturers selected from the senior treasurers of the student‘s associations, and other twenty-five lecturers from various academic departments who have engaged in CSR activities based on the IRQUE project which already granted departments in the universities since 2006. Content analysis research techniques were used for analysing preliminary data. The students' CSR activities and lecturers' CSR activities considered for identifying the qualitative coding schemes. The paper concludes with suggestions for further research. It identifies the social responsibility activities conducted by Sri Lankan universities at present and draws conclusions. The study brings to a close that the students are interested to implement CSR activities as a team and contribution with lecturers and the society. Furthermore, lecturers now reluctant to do those CSR activities because of non- supporting activities from UGC, less financial ability, overtaxed from teaching staff, country political instability and their work load. In conclusion, comparing with 2008 CSR activities and present scenario of universities, students work with CSR activities have been increased in many ways of student‘s organizations. Lecturers engage in CSR activities are considerably decreased than the period of 2008.
How Delphi Method adopts to collect the Data for Identifying Corporate Social Responsibility Activities in Sri Lanka?
(University of Kelaniya, 2014) Tilakasiri, K.K.
Researcher has developed a CSR framework in 2012 from the developing countries point of view. Current study also based on that CSR framework and identified the main activities relating to the three bottom lines, people, profit and planet. Although there is no mandatory requirement for CSR in Sri Lanka, the firms are running with the several CSR activities. Basically, the firms do not consider the CSR frameworks when they implement the CSR activities (Fernando 2010). The different firms activate their own activities as CSR, firms like to disclose those activities. Moreover, the new business organisations and existing non-CSR organisations wishes to identify the most popular CSR activities for their potential responsibilities. However, there is no accepted theory or a mandatory requirement of CSR activities to understand the above wishes. Therefore, this study fills this gap summarising the most popular CSR activities are being implemented by the public listed companies in Sri Lanka. Many Corporate Social Responsibility (CSR) researchers have described their CSR studies as two ways. First, the development studies such as CSR concepts, standards, and frameworks. Second, the relationship studies such as relationship between CSR and Company performances and Stock Markets. The latter studies have been expanded up to the identification of the advantages from implementing CSR activities in their business organisations. While discussing CSR on developing world, it can see that (Lantos 2007; Fernando 2010; Tilakasiri 2012) no accepted frameworks, standards and indices, but the companies are tried to organize CSR activities, looking at the developed world CSR frameworks, standards and techniques. However, this study’s aim was to recognize CSR activities relates to Sri Lankan context. Delphi method was used for refining the data and the content analysis research technique was used to classify the qualitative CSR activities according to the stakeholder theory. Looking at the developed countries’ CSR organisations, it cannot be identified the real feedback of CSR or benefits to the developing countries. Therefore, this study tried to develop the CSR activities in developing countries which they own such as Sri Lanka, it is good to identify the benefit and advantages from the CSR concept for the particular country. Research problem of the study was, How CSR activities are categorised by the existing firms? What are the popular CSR activities in Sri Lanka? Are there similar CSR activities in the firms in Sri Lanka? If so what are those? 5 point Likert scale used for analysing the significance of the activity and content analysis research technique used for analysing the data. On conclusion, the study identified 28th CSR activities as major activities in Sri Lanka.
Impact of accounting information system on business performance of listed manufacturing companies in sri lanka
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Nimali, N.G.A.; Tilakasiri, K.K.
This study’s main goal is to examine how accounting software affects the financial performance of listed industrial companies in Sri Lanka. In order to determine the advantages resulting from the integration of accounting information systems in their operations, manufacturing companies as well as other financial enterprises operating in the same industry should take seriously the findings of the study. The study is beneficial to other academics who are interested in the issue because it has established a framework for future research on the topic. The employees of listed manufacturing companies were the study's target groups. The sample included 50 accountants and finance officers from manufacturing companies in Sri Lanka. Since surveys guaranteed respondents' confidentiality, they were able to react freely and without fear of being exposed. Tables and pie charts were used to illustrate the quantitative data, while language was used to explain it. The results of the study demonstrated a significant correlation between AIS and financial performance. Therefore, it may be said that AIS affect financial performance. The difficulty in determining the level of financial performance effectiveness was one of the restrictions. Finally, a similar study concentrating on the impact of AIS on financial performance might be conducted.
Impact of Cash Conversion Cycle on Company Profitability: Evidence from Listed Manufacturing Companies in CSE in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2021) Apsara, W.J.K.V.T; Tilakasiri, K.K.
Cash conversion cycle is the most important and significant of working capital management (WCM). Companies always pay their attention improve their profitability and keep becoming liquidity in a firm. Every organization is extremely concerned about how to sustain and improve profitability hence they have to keep the focus on the factors affecting profitability. Therefore, this study is going to reconnoiter the impact of cash conversion cycle (CCC) on company profitability. It has selected 50 listed manufacturing companies among all manufacturing companies that listed in Colombo Stock Exchange as the sample and data were collected for the period from 2016 to 2021. In this research, profitability is used as the dependent variable which is measured by the Return on Assets (ROA) and Return on Equity (ROE). Independent variable is Cash conversion cycle and that was determined by calculating Inventory Conversion period (ICP), Payable Conversion Cycle (PCP) and Receivable Conversion Period (RCP). Regression and correlation statistical techniques used to analyze the impact of cash conversion cycle to profitability. Finally, study concludes that there has positive relationship among ICP and profitability and negative relationship between RCP, PCP and company profitability (ROA and ROE). As well, the impact of Cash Conversion Cycle for the profitability is negatively correlated with profitability. Thus, cash conversion cycle has significant on profitability of the companies, because those are statistically significant. Company managers can create value for the business by controlling these cash Conversion Cycle under working capital management.
The Impact of Corporate Governance on Financial Distress: Evidence from Listed Non-financial Companies in Sri Lanka.
(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2023) Ranasinghe, R.A.L.N.; Tilakasiri, K.K.
The study's goal is to investigate the impact of corporate governance on the financial distress of Sri Lankan listed non-financial companies. The three years straight negative cash flow and negative profit measures financial distress, while board size, board gender diversification, Frequency of board meetings, Education level of the board CEO duality and audit quality are proxies for corporate governance. The effect of corporate governance practices on financial distress is evaluated using 30 individual observations of non-financial firms listed in Sri Lanka from 2018 to 2023 and a fixed effects model. Additionally, Firm size, profitability are incorporated into the study as control variables to enhance the study's findings. And financial distress is measured based on an institute having a negative profit, cash flow or worth for three years as the unique nature of financial institutions prevents traditional methods of measuring financial distress, such as the Altman Z score model. In this study, descriptive analysis, corporate governance comparison model and regression analysis are used to analyze the data. The analysis results indicated that the following corporate governance variables, board size (BS), board gender diversification (BGD), frequency of board meetings (FBM), higher audit quality (HAQ), education level of the board (ELB), and the control variable of Firm size to have a significant negative impact on financial distress. Accordingly, these findings of the study can provide a framework to identify non-financial firms that are at risk of being financially distressed.
The Impact of Corporate Governance on Intellectual Capital Efficiency in Sri Lankan Listed Companies
(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, 2020) Thilakarathne, L.N.; Tilakasiri, K.K.
Corporate governance is practices, systems, and controls used to govern the organization's behavior also affects the long-term sustainability of the organization. Intellectual capital (IC) is one of the wealth generator resources and provides information on organization capability. This study investigates the impact of corporate governance on intellectual capital efficiency in Sri Lankan listed companies. The prior studies used different corporate governance mechanisms to evaluate the impact of corporate governance on IC efficiency. Each of the corporate governance mechanisms shows various relationships between each IC component. Besides, the studies related to this field are limited in the Sri Lankan context, and the findings of this study contribute to existing knowledge in the area of corporate governance and IC in listed companies in Sri Lanka. This study employs Value Added Intellectual Capital regression model (VAIC) to examine the efficiency of intellectual capital components. The selected corporate governance mechanism is used as independent variables. The data collection is based on annual reports for the years 2015 to 2019 of 100 listed companies at the Colombo Stock Exchange. Multiple linear regression analysis is used to investigate the impact of corporate governance on IC efficiency using the E-views package. The findings of this study contribute to the existing knowledge of stakeholders to evaluate businesses. Moreover, these findings will assist managers to make more accurate technical decisions on the organization. Also, this study will help investors to get detailed insights into a way to classify companies based on efficiency with different types of corporate governance mechanism.
The Impact of Corporate Governance on Intellectual Capital Efficiency: Evidence from Sri Lankan Banking Sector
(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2023) Weerasinghe, I.K.H.N.; Tilakasiri, K.K.
Corporate Governance (CG) and Intellectual Capital (IC) have emerged as critical considerations in contemporary entities, addressing challenges such as dispersed investor collective action and conflicts among corporate owners. This study aimed to evaluate the impact of Corporate Governance (CG) factors and Intellectual Capital (IC) efficiency in the Sri Lankan banking sector. According to the study, Board Size (BSIZE), Board Activity (BACT), Board Independence Composition (BIND), Audit Committee Size (AUDS), and Frequency of Audit Committee Meetings (AUDM) were used as independent variables in terms of Corporate Governance. Consequently, Intellectual Capital was taken as the dependent variable. For this purpose, all populations of banking sector companies except three banks are selected as samples for this study during the period 2018 – 2022. This research used secondary data, data taken from the financial reports, annual reports, and banking websites over the mentioned years. The relationship between Corporate Governance factors and Intellectual Capital efficiency is calculated under descriptive statistics and regression model. Research results suggest that there is a positive significant impact of corporate governance on intellectual capital efficiency.
The Impact of Corporate Social Responsibilities on Financial Performance of Listed Companies in CSE
(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2023) Sewvandi, R.W.V.C.; Tilakasiri, K.K.
The key objective of research is to find out the impact of corporate social responsibility on financial performance. To examine the adoption of corporate social responsibility practices in each industry and to examine the significant association between corporate social responsibility and financial performance are other specific objectives. When comparing Sri Lanka with other countries there are considerable differences in economic, political, and ethical background. Thus, it is difficult to get a clear idea or a conclusion of the relationship between CSR and financial performance. Hence, this paper focused on examining the association between corporate social responsibility and the financial performance of publicly quoted companies listed in CSE to bridge the knowledge gap in the Sri Lankan context. This study mainly focuses on identifying the Effect of CSR on profitability. To analyze the relationship, this study mainly gets information from companies listed on the Colombo Stock Exchange. Public quoted companies are the companies that practice corporate social responsibility practices. That is the reason for selecting listed companies for this study The Colombo Stock Exchange (CSE) is the main Sri Lankan stock exchange; it has 295 listed companies representing 20 GICS industries as of 30th June 2022, with a market capitalization of 3,184.16 billion rupees.