ICBI 2019
Permanent URI for this collectionhttp://repository.kln.ac.lk/handle/123456789/21310
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Item Does Corporate Governance Moderates the Effect of Firm Size on Capital Structure Choices? A Study Based on 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) Perera, K.M.P.; Dissanayake, T.D.S.H.The purpose of this study is to investigate the effect of firm size on capital structure choices and whether corporate governance moderates the impact of firm size on capital structure choices. This study collects data from 28 manufacturing companies in the Colombo Stock Exchange (CSE) for the period 2013 to 2017. Descriptive statistics, correlation analysis, and panel regression analysis was used for data analysis to examine the proposed hypotheses. It was found that there is a significant (<0.01) positive association between firm size and capital structure choices. Further, findings reveal that corporate governance does not moderate the effect of firm size on capital structure choices of manufacturing companies in Sri Lanka. These findings are expected to have significant policy implications.Item Association between Working Capital Management and Financial Performance: Moderating Effect of Management Policies(International Conference on Business and Information (ICBI – 2019), [Accounting, Finance and Economics], Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2019) Madushan, A.M.T.; Dissanayake, T.D.S.H.Many studies have recognized different types of associations between working capital management and firms’ financial performance while a very few studies had identified the moderating effect on the association between working capital management and firms’ financial performance. Thus, this study aims to investigate the association between working capital management and firms’ financial performance and the moderating effect management policies. Data were gathered from manufacturing companies listed in the Colombo Stock Exchange for the period of five years from 2014 to 2018. Sample consist of 28 manufacturing companies. This study uses correlation, multivariate regression and panel regression to obtain the results. The results show that the working capital management in terms of cash conversion cycle is negatively associated with the firms’ financial performance in terms of return on assets and net profit margin while the effectiveness of management policies in terms of average age of inventory, average collection period and average payment period strengthens the association between working capital management and firms’ financial performance. This study is useful for the future studies, analysts, financial managers in achieving their goals and objectives.