6th ICARE 2020
Permanent URI for this collectionhttp://repository.kln.ac.lk/handle/123456789/21993
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Item The Impact of Individual Taxpayers' Attitude on Tax Compliance Behavior in Sri Lanka(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, 2020) Weerarathna, W.G.R.M.; Sujeewa, G.M.M.The Government of Sri Lanka imposes different types of taxes from citizens, corporations, or other legal entities for meeting all or part of its expenditure. The government uses the tax revenue for providing a variety of services and goods to the people. All individuals, corporates and other organizations are morally and legally bound to being compliant with tax legislations. A number of studies have been accomplished regarding tax compliance because there are different factors that influence the tax compliance behavior of taxpayers. The taxpayers' attitude is one of the factors which influence the tax compliance behavior. Accordingly, the study aims to find out the impact of individual taxpayers' attitude on tax compliance behavior. Perception of tax fairness (PTF), ethical beliefs towards tax (EBT) understandability of the tax law (UTL) and perception of the government accountability (PGA) used as independent variables to measure the relationship with tax compliance. The study uses a structured questionnaire to collect data from the individual taxpayer in Colombo and Gampaha District in Sri Lanka. Reliability analysis, descriptive analysis, correlation analysis, and regression analysis are used to analyze and interpret the data collected through the study. The findings of the study will provide useful insights to policymakers to implement suitable strategies and allow them to improve the government tax revenue collection. Taxpayers will also be benefited from this study because they can get an idea about how to change their attitudes and help them to pay taxes voluntarily without any reluctance.Item Value Relevance of Financial Information in Determining Stock Price in Colombo Stock Exchange(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, 2020) Srimal, E.A.P.S.; Sujeewa, G.M.M.Value relevance refers to the usefulness of financial information and ability to influence stock prices through information in financial statements. This study examines whether financial information is value relevant and the level of dilution over the time to the investors in Colombo Stock Exchange (CSE). Related prior studies have found mixed empirical evidences depending on research methodologies or research periods employed. Furthermore, most of the prior studies had focused on developed and emerging markets where dearth of empirical evidences available in relation to frontier market such as CSE. This study employs an extended model of (Ohlson,1995) price regression which is consistent with (Omran and Tahat, 2020), to investigate the value relevance of financial reporting information. It explains market price per share (MPPS), earnings per share (EPS), book value per share (BVPS), assets growth (AG) and changes in financial leverage (LEV). The sample period covers from the year 2015 to 2019 where all the listed companies in CSE. Moreover, study uses a panel regression model for estimation. The results of the study contribute to measure the impact of value relevance of financial information to the investors in Colombo Stock Exchange with recent changes to information disclosures by Sri Lanka Accounting Standards, Integrated Reporting and Sustainability Reporting practices etc. Findings of this study will provide insights to the regulators of capital markets, standard setters, accounting practitioners as well as the investors of emerging markets with similar market context.Item The Relationship between Internal and External Audit of Sri Lanka(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, 2020) Priyangani, S.N.; Sujeewa, G.M.M.At present, the internal and external auditing profession has grown predominantly in digitally driven, complex, and highly uncertain business environment. The internal and external audits are interrelated, served different benefits, functions, and objectives. Accordingly, the purpose of the study is to examine the relationship between internal and external audit with the emphasis of cooperation between internal audit and external audit and the reliance of external auditors on the internal audit function. Related prior studies have found mixed empirical evidence about the factors affecting the reliance on the internal audit function by the external auditors. There is dearth of empirical research in this area in terms of level of cooperation between internal audit and external audit and the reliance decision of the external auditors on the internal auditor’s work in local context. Data is gathered from external auditors who have audited the clients’ financial statements through the structured questionnaire. It is employed descriptive statistics and regression analysis. The findings of the study are important to internal & external auditors, business management, governing bodies and academics in enhancing the audit quality, effectiveness, and level of the reliance of the external auditors on internal auditors work.Item Impact of Sustainability Reporting Practices on Financial Performance in Listed Companies in Sri Lanka(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, 2020) Peiris, K.A.A.S.R.; Sujeewa, G.M.M.The changing global environment is challenging businesses to look beyond financial performance to drive business. Sustainability has potential to influence company performance and its reporting contribute organizations to measure, understand and communicate their economic, environmental, social and governance performance, and then set goals, and manage change more effectively. This study is investigated the impact of Sustainability Reporting Practices on Financial Performance of listed companies in Sri Lanka by using the Global Reporting Initiative (GRI) framework. Data is collected from annual reports of the listed companies in CSE for the years 2015-2019 by representing five sectors: Beverage & Tobacco, Construction & Engineering, Manufacturing, Plantation and Power & Energy. The study measures and analyzes economic, environmental and social performance parameters, as suggested in the GRI guidelines. Statistical analysis would discuss on Sustainability Reporting practices and the Financial Performance of listed companies in CSE. The findings of the study would be suggested that managers, practitioners, regulators and policy makers in emerging economies should adopt the GRI guidelines to report sustainability performance disclosures and focus on specific factors to improve the quality of sustainability disclosures. The main contribution of this study is that it aims to increase the visibility of organizations and there continue ethical business practices.Item Value Relevance of Accounting Information on Stock Prices in Finance Sector Companies listed in Colombo Stock Exchange(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, 2020) Madhuhansi, K.P.A.; Sujeewa, G.M.M.As an increasing number of business organizations around the world are engaged in the value relevance of accounting information. This study investigates the value relevance of accounting data in determining whether accounting information has the ability to capture data that affect stock prices of finance sector companies listed in Colombo Stock Exchange. The studies on value relevance of accounting information produce mixed result regarding which of the variables most affect share prices of different sectors of the economy. Therefore, this study examines the extent to which stock price of Sri Lankan listed financial companies are associated with accounting variables. This study adopts the aggregate stock market reaction method to evaluate the value relevance of accounting information. Study population consists of 71 listed financial companies in Colombo Stock Exchange and the study examines the impact of accounting information on a sample of 50 banks, insurance and diversified financial companies from the period 2014/2015 to 2018/2019. Based on the Ohlson’s model (1995) and other empirical studies, this study examines how firm specific factors such as earning per share (EPS), book value per share (BVPS), dividend per share (DPS), net operating cash flow per share (NOCFPS) and return on equity (ROE) affect to determine the stock price. Panel data regression method is adopted for this study. The findings of the study will provide useful insights to the investors to make investment decisions and the accounting standard setters to enhance the quality of the financial reporting in order to increase the value relevance of financial statements. This study will also be important to accounting practitioners, regulatory bodies, preparers of accounting information, government agencies and other emerging stock markets.Item Impact of Commitment to Business Ethics to Non-Financial Business Performance: Reference to Business Entities of Manufacturing & Service Sector in Sri Lanka(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, 2020) Jayasekara, A.I.A.; Sujeewa, G.M.M.Business ethics are the set of moral principles, values, and standards that need to be followed by both employees and employers in the organization. The main purpose of this study is to investigate the relationship between dimension of commitment to business ethics and non-financial business performance. Observed in the prior studies on a commitment to business ethics mainly focused on the overall financial and non-financial business performance. It is identified dimensions for business ethics that are motivation and rewarding policy, using ethical criteria in evaluation of employee’s behavior, and communicating ethical values in and out of the organization. The study is crosssectional in time, and primary data is collected by distributing structured questionnaire and the sample size of the study is 150 executives who are working in manufacturing and service sectors in Sri Lanka. Preliminary analysis is to be performed to test normality, validity and reliability using descriptive statistics and regression models. The findings of the study will contribute for better understanding of some ethical factors that may influence or affect employee’s behavior and performance at work. It will also ensure general improvement in employee work attitudes towards involvement in satisfaction with their jobs and commitment to the organizations. Also findings of the research will be valid motivation for further improvement of commitment to ethics in the business environment.Item Impact of Inventory Management on Financial Performance in Listed Manufacturing Companies(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, 2020) Gunasekara, J.B.C. L.; Sujeewa, G.M.M.The inventory of a business is one of its most important assets and its inputs and finished goods are at the heart of its businesses such as retail, manufacturing, and other inventory-intensive industries. The shortages in inventories are disrupted the production process of the business. Therefore, the inventory must be managed, and inventory management plays a vital role in manufacturing organizations. Proper inventory management is an effect on the overall performance of the manufacturing company. Therefore, this research discusses the problem of how to manage existing inventory and to suggest ways for reducing the inventory cost thereby improving the profitability of the firms. The main objective of this study is to find out the relationship between inventory management and financial performance and to measure the impact of inventory management on financial performance in Sri Lankan manufacturing firms. The study employed a quantitative method, and study is considered all Listed manufacturing companies in Colombo Stock Exchange (CSE) from 2015 to 2019. It is employed regression and correlation using EViews software. Findings of this study would be important in providing guidance to the management in manufacturing firms on inventory management and financial performance.Item Determinants of Financial Performance of Listed Companies of Financial Sector in Colombo Stock Exchange.(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, 2020) Chandrasekara, C.M.N.N.; Sujeewa, G.M.M.The bank and non-bank financial institutions are considered to be an important source of financing in any economy. Stability of earnings is one of the preconditions for survival and growth of any industry in the long run. Keeping the importance of financial performance in mind, this paper aims to find out the determinants of financial performance of financial sector listed companies in Colombo Stock Exchange during the period 2015 to 2019. Return on equity is defined as the dependent variable while Company size, Liquidity risk, Operating cost and Capital adequacy are identified as independent variables. The panel data is employed, and E-views software is used for data analysis. Descriptive statistics and inferential statistics, simple linear regression model, correlation matrix, Fixed Effect Model and Random Effect Model are used to analyze the data. The findings will be important to the management of listed companies in finance sector to manage their portfolios efficiently in order to protect the long run investments of profit-making.Item Impact of Liquidity Management on Financial Performance With Special Reference to Sri Lankan Commercial Banks(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, 2020) Bandara, K.M.N.; Sujeewa, G.M.M.Liquidity is considered as one of vital factor in any business. This study investigates the impact of liquidity management on financial performance with special reference to Sri Lankan commercial banks. There have been number of studies regarding liquidity management and profitability in developed countries but less number of studies found in Sri Lankan context on relationship between liquidity and financial performance of Sri Lankan commercial banks. This research is focused on identifying the relationship between liquidity management and performance of Sri Lankan commercial banks. The analysis is based on 12 commercial banks listed in the Colombo Stock Exchange over a period of past eight years from 2012 to 2019. Data are collected from secondary data in the annual reports. Multiple regression method is used to analyze data and used E-Views statistical software in this study. The findings of the study explain about liquidity management and financial performance of commercial banks in Sri Lanka.