Commerce and Management

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    The Impact of firm specific and macroeconomic factors on financial performance: Evidence from listed material companies in Sri Lanka
    (Department of Finance, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2025) Shashini, K. L. A.; Tennekoon, S. T. M. S.
    Introduction: The material sector consists of a range of industries such as manufacturing and distribution of raw materials and finished products for infrastructure development and construction. And material companies contribute significantly to the country's GDP. In this study aim to investigate firm specific and macroeconomic factors on financial performance, based on the listed material companies in Sri Lanka. Methodology: The independent variables in this study include firm-specific factors such as firm size, leverage, and liquidity, as well as macroeconomic factors such as the inflation rate, interest rate, and GDP growth rate, while the dependent variable is financial performance. There are 18 material companies listed on CSE. The total population as a sample. The panel data regression analysis was employed for analysis purposes and using the STATA software. Findings: According to the results Firm size, Leverage and inflation rate have significant impact on financial performance of listed material companies in Sri Lanka, while liquidity, Interest rate and GDP growth rate do not have significant impact on financial performance of listed material companies in Sri Lanka. Conclusion: The analyses indicate that firm size and inflation rate positively and significantly affect financial performance, suggesting that larger firms and periods of inflation positively influence ROA. Conversely, leverage has a significant negative impact on ROA, indicating that higher debt levels reduce profitability.
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    Impact of Firm Specific Factors on Stock Market Prices: A Study of Listed Hotel & Travels Companies in Sri Lanka
    (Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Manoji, L.P.; Karunarathne, W.V.A.D.
    The impact of firm specific factors on stock market prices is one of a popular area in Accounting Based Capital Market Research. Investors desire to buy shares of listed companies in Colombo Stock exchange (CSE) to maximize their wealth. Therefor share prices are very important one to investors and other related parties. The objective of present study is to provide empirical evidence on the impact of firm specific factors on the stock market price in listed hotels and travels companies in Sri Lanka. The study sought to examine by using the selected listed hotel & travels companies in the CSE during 2010 to 2015. Secondary data were collected from the annual reports of the hotel & travels companies and used random sampling method by selected the sample for the study. These data were analyzed using SPSS software through descriptive and inferential statistics such as measuring central tendency & dispersion, Correlation analysis and Regression analysis. The findings are indicated that a significant positive impact of dividend per share and book value per share on stock market prices. There is a significant negative impact of return on equity and dividend yield on stock market prices. Hence the study will be concluded that firm specific factors are important and also affecting on companies’ stock market price.