Browsing by Author "Wanigasekara, W.A.D.K.J."

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Effect of Working Capital Management on Profitability: Evidence from Listed Manufacturing Companies in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Wanigasekara, W.A.D.K.J.; Nadeesha, D.L.D.R.
The problem address by this research study is; “What is the impact of working capital management on profitability of manufacturing companies in Sri Lanka?” The objective of this study was to identify the effect of working capital management on profitability of manufacturing companies listed on Colombo Stock Exchange in Sri Lanka. Data has been collected from a sample of 12 manufacturing firms during the period of five years from 2009 to 2013. Working capital management, which was measured using cash conversion cycle, inventory turnover period, accounts receivable period and accounts payable period was the independent variable while the profitability, which was measured in terms of net operating profit margin, was the dependent variable of this study. Correlation and panel data pool regression analysis were employed to identify the effects of working capital management on profitability. The results showed that there was a positive insignificant relationship with profitability and working capital management in listed manufacturing companies in Sri Lanka. This study will help the managers to handle the working capital efficiently to increase its profitability.
Issues in the Corporate Governance Model in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Edirisooriya, I.W.; Wanigasekara, W.A.D.K.J.
Over the past twenty years the system and the practices of corporate governance have become more powerful because of its reputation and it was a concept which has obtained the attention of the people around the world. Although, the Anglo-Saxon model has impressed some good corporate governance practices in the companies, various constraints have limited its successful application in Sri Lanka. The main objective of this research is to identify and evaluate the key issues which have the impact on current corporate governance model in Sri Lanka. Conceptual model identified the relationship between independent variables which are enforcement, Shareholder’s rights, Regulatory framework, Transparency & disclosures, Ownership concentration and Board of Directors (BOD) responsibilities and the dependent variable which was effective corporate governance system. A survey questionnaire was administered to a convenience sample of 100 professionally qualified personnel or people who have an academic qualification. Descriptive statistics, frequency analysis and regression analysis were used to analyze the data. Results indicated Enforcement, transparency and disclosures are the most challenging factors in general whereas BOD responsibilities and rules and regulations are the least challengers. Based on the regression analysis, it was found that all six variables significantly affected to effective corporate governance system in Sri Lanka and the explanation power of corporate governance model by those six variables was 76.6%. There is no literature found in Sri Lanka to support these findings, since the conceptual model in this study has been not employed in prior studies in Sri Lanka.
Measuring Value Creation: Financial Value Drivers vs. Non-Financial Value Drivers
(International Conference on Business and Information (ICBI – 2019), [Doctoral Colloquium], Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2019) Wanigasekara, W.A.D.K.J.; Weligamage, S.S.; Karunarathne, W.V.A.D.
Value creation of a business organization may perhaps be recognized as the strategic purpose of doing the business in the contemporary business domain. Identifying and quantifying what value is created and how much value is created become the foremost tasks in the value creation process of the business organizations. When identifying and quantifying value created by a business organization, the measurement tools of value creation play a pivotal role in the mechanism of measuring value creation of the business organization. The value creation literature provided number of evidences on the measurement tools of value creation or in other words, value drivers to identify and quantify the value creation of a business. Either financial and non-financial measurements or value drivers have been identified in that scenario by the scholars in the value creation arena. However, none of them has explored the possibility of merging both financial and non-financial value drivers in identifying and quantifying the value created by a business. Therefore, there is a problem to address that, whether both financial and non-financial value drivers of value creation can be linked together to identify and quantify the value creation of a business. Hence, the purpose of this study is to explore the possibility of merging financial and non-financial value drivers to identify and quantify the value creation of a business organization. To achieve the purpose, 83 number of research articles from 1998 to 2018, which mentioned the ‘value creation’ as a keyword in the article title, have been reviewed and different financial and non-financial value drivers have been identified. It has been suggested that, a model for identifying and quantifying the value creation by linking some financial and non-financial value drivers together.