Browsing by Author "Wijesinghe, K.D.G.N."

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Capital Structure and Firm Performance: Evidence from Listed Food and Beverage Companies in Sri Lanka
(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Rajapaksha, R.M.P.W.M.; Wijesinghe, K.D.G.N.
Capital structure refers to the percentage of money at work in a company. There are two forms of capital: equity capital and debt capital. The firm’s capability of accomplish the needs of its stakeholders is closely related to the firm’s Capital Structure decisions. Capital Structure decision is to find out the best mix of debts and equity that a company uses to finance its business. This analysis performs to identify the relationship between Capital Structure and performance of the food and beverage companies in Sri Lanka, The examination performs using 15 companies listed on the Colombo Stock Exchange covering the years 2010-2015. The review utilizes Return on assets as dependent variable as well as the three capital structure measure Short Term Debt to Total Assets, Long Term Debt to Total Assets & Total Debt To Equity as autonomous variable. Descriptive, Regression and correlation analysis use as a techniques for measure the variables. The outcome reveals a positive relationship between the Short-Term Debt to Total Assets and Return on Assets. However there is a negative relationship between the Long-Term Debt to Total Assets and Return on Assets. The relationship between Total Debt and Return on Assets show a positive association as these findings analysis discovered that there is significant relationship between capital structure and performance of the listed food and beverage industry in Sri Lanka. Furthermore increasing short term debt within an organization will lead to enhance the performance of the food and beverage industry in Sri Lanka nevertheless keeping more long term debt will lead to decrease the performance of the listed food and beverage industry in Sri Lanka.
Credit Risk Management and Financial Performance in Listed Financial Institutions in Sri Lanka
(4th International Conference for Accounting Researchers and Educators, Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2018) Kumudumali, H.H.E.; Wijesinghe, K.D.G.N.
Financial Institutions are exposed to different types of risks, which effect the performance and activity of these financial institutions. Credit risk is one of the most significant risks that financial institutions face, considering that granting credit is one of the main sources of income in financial institutions. The main purpose of this study is to investigate the impact of credit risk management on financial performance in finance institutions. The study considered ROA (Return on Asset) as profitability indicator while Non- Performing Loan Ratio (NPLR), Total Loans to the Asset ratio, Capital Adequacy Ratio (CAR) are considered as credit risk management indicators. The study used secondary data of 30 financial institutions covering the period of 2012 to 2017. Data were analyzed using panel data analysis through E-Views packages. The result reveals that overall credit risk has significant impact on profitability of listed financial institutions
Impact between Dividend Policy & Share Price Volatility; Evidence from Manufacturing Firms Listed in Sri Lanka
(4th International Conference for Accounting Researchers and Educators, Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2018) Jayamanna, K.D.A.P.; Wijesinghe, K.D.G.N.
Dividend policy is one of the main indicators of any organization and especially all investors are concerning about the dividend policy. This study aims to identify how dividend policy affects to the share price. Research is focused on manufacturing sectors as it a fast growing industry sector. Data collected on 20 listed manufacturing companies for the period of 8 years from 2011-2018. Dividend policy measured through Dividend yield, Earnings volatility, Dividend Payout ratio. Growth in asset, Firm size were used as control variables. In order to measure relationship between dividend policy and stock prices, data were analyzed using regression analysis. The result reveals that Dividend payout has significant positive impact on share price volatility and dividend yield has negative impact on share price volatility and Firm size, earning volatility, asset growth explain the stock price volatility.
Impact of Capital Structure on Performance of Listed Manufacturing Companies in Sri Lanka
(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Perera, M.A.K.C.; Wijesinghe, K.D.G.N.
This research investigates the impact of capital structure on performance of manufacturing companies’ listed Colombo stock exchange (CSE). Capital structure is the combination of debt and owners’ equity. Objective of this study is to find out relationship between capital structure and firm performance while searching factors which are significantly affect performance of listed manufacturing companies. This study uses panel data of 16 manufacturing sector companies listed in CSE for the period of 8 years (2009 to 2016). The researcher is use descriptive statistics, correlation and multiple regressions for analysis purpose. The researcher develops five models by considering five different performance measurements as dependent variable. Namely; Net profit ratio (NPR), Gross profit ratio (GPR), Return on asset (ROA), Return on equity (ROE) and Return on capital employed (ROCE). Further researcher is uses Debt to equity ratio (DTE), Debt to asset ratio (DTA), Long term debt ratio (LTDR) and Short term debt ratio (STDR) as explanatory variables for the study. Results reveals except long term debt ratio, other explanatory variables have negative relationship with firm performance and all five regression models accept long term debt ratio as significantly effects to firm performance.
Impact of Macroeconomic Variables on Profitability of Manufacturing Companies in Colombo Stock Exchange
(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Dhanapala, S.G.L.M.; Wijesinghe, K.D.G.N.
Objective of this study is how macroeconomic variables have been affected for the profitability of the listed manufacturing company and also, it is considered how the interest rate, US$ exchange rate, GDP growth rate, and inflation rate have been affected for the ROA and ROE of listed manufacturing companies. There are 15 CSE listed manufacturing companies are used as the target sample. Secondary data from 15 companies have been collected from 2010 to 2015, as quarterly. Macroeconomic data is collected from the central bank of Sri Lanka and Colombo consumer price index for period of 2010 to 2015. Data is analyzed using multiple regression model. From the findings are there significant negative relationship between inflation rate, US$ exchange rate with ROA and ROE. Interest rate has positive relationship between profitability but not significance as well as GDP growth rate has negative relationship between profitability but it is also not significant. Listed manufacturing company must pay more attention for the inflation rate and exchange rate because negative relationship of inflation rate and exchange rate is affected for the ROA and ROE of the company. If inflation rate and US $ exchange rate increase the profitability of manufacturing companies decrease other hand decrease in inflation rate exchange rate increase the profitability of listed manufacturing companies.
Recognition of Non-Current Assets
(Department of Accountancy, University of Kelaniya, 2016) Nawaneliya, M.M.A.E.; Wijesinghe, K.D.G.N.
ABC (Pvt) Ltd. is a member of PQR Group which can be categorized under Service industry. ABC (Pvt) Ltd. offers civil construction, mechanical engineering, electrical engineering and other specialized engineering services. Company has a separate section which is called as CNC Mold section. It has a large CNC Mold Machine with the special Steel floor and high power supply Transformer. The company considered steel floor and transformer are components of the CNC machine and the company Statement of Financial Position has shown the cost of machine with the cost of steel floor and high power supply Transformer.
Risk Disclosures: A Study on Risk Management Disclosure in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Wijesinghe, K.D.G.N.; Rajapakshe, R.M.D.A.P.
Concentration on risk and the importance of risk management is highly increased in the past decades due to the dynamic and highly volatile economic conditions. By definition risk management is important to every organization despite the industry sector. Study focuses on identification differences in risk management disclosures among industry sectors. Four different industry sectors namely manufacturing, plantation, hotel and healthcare were used for the study. Three base documents namely COSO model, ISO 31000, and FERMA- risk management standard were used to develop a common checklist of disclosure requirements. The Study reveals that all companies provide separate disclosures on risk management in their annual reports and attempt to incorporate risk management practices to their strategy and observes that there are differences in risk management disclosures and practices among industry sectors.
Risk Management and Internal Controls: FRC’s Risk Guidance
(Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Wijesinghe, K.D.G.N.
The Turnbull Report was first published in 1999 and set out best practice on internal control for listed companies. In October 2005 the Financial Reporting Council (FRC) issued an updated version of the guidance with the title 'Internal Control: Guidance for Directors on the Combined Code. This was superseded by the FRC's Risk Guidance 2014. In this article board responsibilities for risk management and internal controls, exercising the risk management and internal controls, monitoring and review of the risk management and internal controls, related financial and business reporting under new FRC guidance are examined. As a conclusion it is emphasized that integrating risk management and internal controls may benefits to the organization by creating competitive advantage.
Service Quality and Its Impacts on Customer Satisfaction in Ceylon Electricity Board (Colombo South Area)
(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Eshwara, I.D.K.; Wijesinghe, K.D.G.N.
Service quality and customer satisfaction are very important concepts that companies must understand in order to remain competitive and survive in the business. Therefore it is vital for businesses to understand how to measure service quality from the consumers’ perspective. Delivering a quality service will leads to higher customer satisfaction and profitability, reduction cost, enhance customer loyalty and retention. The main purpose of this study is to identify Service Quality and Its Impacts on Customer Satisfaction in Colombo South Area of Ceylon Electricity Board. SERVQUAL model is used to measure the quality of the service offered by Ceylon Electricity Board. The model consists of five dimensions such as tangibility, reliability, responsiveness assurance and empathy. Data was collected from customers in Colombo South Area in order to assess their expectations and perceptions of services received through structured questionnaire. Findings indicate there are relationships between service quality and service quality dimensions, all the SERVQUAL dimensions have a significant relationship with service quality and customer satisfaction. Tangibility, Reliability, Responsiveness, Assurance and empathy are all equally important for customer satisfaction. The management should not only focus for achieving objectives of the government and making profits, but must also look into the needs of the customers as well. Management should take responsibilities for implementing service quality improvement programmes and such programmes to be strictly followed effectively.
Valuation of Inventory at Selling Price
(Department of Accountancy, University of Kelaniya, 2016) Priyanganie, K.A.I.; Wijesinghe, K.D.G.N.
PQR limited is limited liability Company which is engaging a retail business as a super market with more than 300 Outlets Island wide. It imports and locally purchases groceries, provisions, liquor, house hold items and fruits & vegetables, and distribute to the outlets using 5 warehouses. Normally they conduct a physical stock verification at the end of every financial year of assessment. On that time of stock count, the company value the stock at selling price.