11th Students' Research Symposium 2022

Permanent URI for this collectionhttp://repository.kln.ac.lk/handle/123456789/26042

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The Impact of Board Composition and Ownership Structure on Dividend Policy: Evidence from Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Pramodya, L.A.D.K.; Chathurika, H.L.D.J.
Purpose: The Impact of Board composition and Ownership structure on Dividend policy is one of the major concerns in Sri Lanka. The main objective of the study is to examine the impact of Board composition and ownership structure on firm’s Dividend policy of 41 listed companies on the Colombo Stock Exchange of Sri Lanka, over the period from 2016 to 2021. Design/Methodology/Approach: This study is used three indicators under the Board composition such as Board size, Board meetings and Board independence and used three indicators under the Ownership structure such as Managerial ownership, Institutional ownership, and foreign ownership. Furthermore, this study considers three control variables such as Firm size, Firm leverage, and Firm profitability. This study employed the Descriptive statistics analysis, Ordinal Logistic regression method and Multinomial Logistic regression method to estimate the regression models. Findings: The major contribution of this study is exploring the impact of Board composition and Ownership structure on the main three dividend policies such as Zero dividend policy, Irregular Dividend policy and Stable Dividend policy. Considering the overall model, the results revealed that Board size, Board meetings and Managerial ownership have a significant impact on the Firm’s Dividend policy. Then the parameter Estimates results are relative to the reference category of the Multinomial logistic regression. Under that Board Size, Managerial ownership and foreign ownership indicated a positive impact and Board meetings, Board independence and Institutional ownership indicated a negative impact on the Irregular dividend policy relative to the Zero dividend policy. On the other hand, Board size, Board Independence, Managerial ownership, and Institutional ownership indicated a positive impact and Board meetings, and foreign ownership indicated a negative impact on the Stable dividend policy relative to the Zero dividend policy. Originality: From the results of this study, practitioners can enhance their ability to make dividend decisions under the main three dividend policies.
The Impact of Corporate Social Responsibility on Firm’s Performance: Evidence from Textile and Apparel Manufacturing Companies in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Nuwarapaksha, N.E.D.; Chathurika, H.L.D.J.
Purpose: The purpose of this study is to determine the impact of Corporate Social Responsibility on firm’s performance of Apparel manufacturing companies in Sri Lanka. Design/Methodology/Approach: This study focused on how Corporate Social Responsibility like Economic Responsibility, Legal Responsibility, Ethical Responsibility, Philanthropic Responsibility are effect on the firm’s performance of apparel manufacturing companies in Sri Lanka. The research has used the quantitative approach to investigate the research and gathered data from 150 apparel manufacturing companies in Sri Lanka in order to achieve the research objectives. This research used a simple random sampling technique. In this study, the main source of data gathering approach is questionnaires. For data analysis, descriptive statistics, multicollinearity test, independent sample T-test, ANOVA test, and multiple regression were used, and SPSS statistical software has been to analyze the survey data. Findings: Based on the study's findings the hypotheses test demonstrates that the Economic Responsibility, Legal Responsibility, Ethical Responsibility, Philanthropic Responsibility are significantly impact to the firm’s performance of the apparel manufacturing companies in Sri Lanka. The study's adjusted R square is 51.9 percent, according to the multiple regression model, which indicates that the Corporate Social Responsibility elements in this study explain 51.9 percent of Corporate Social Responsibility on firm’s performance of apparel manufacturing companies in Sri Lanka. Apparel Manufacturing Companies are the major income source to the economy. Originality: According to the research findings, Corporate Social Responsibility has a bigger impact on performance of apparel manufacturing companies in Sri Lanka.