Junior Research Symposia

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Corporate Governance and Profitability Evidence from Sri Lankan Banking Industry
(Department of Finance, Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Herath, H.M.S.L.
The objective of this research is to examine the impact of corporate governance mechanisms on firm performance of 13 banks in Sri Lankan banking industry over the period of 2005-2014. This is an exploratory study which addresses the research problem of does corporate governance affect the bank performance in Sri Lanka. Return on Equity (ROE) is used as dependent variable and, Firm Size, Firm Leverage, Audit committee composition, Board Independence, Board Size and CEO Duality used as independent variables. This research has used only secondary data and main source of data includes the annual report of the selected companies. Empirical research was conducted based on the 130 observations and findings are based on regression analysis. Researcher employed panel data methodology as a method of estimation. Descriptive statistics, ANOVA and t-test applied on data by using SPSS. Correlation techniques method has been used to test the hypotheses, to solve the research problem, and to achieve goals and objectives of the study. Accordingly, there is a significant impact of corporate governance on Performance of the banking industry in Sri Lanka. Moreover, there is a positive relationship between bank performance and board independence and firm size.
The Impact of Leverage on Real Earnings Management: Evidence from Listed Manufacturing Companies in Colombo Stock Exchange
(Department of Finance, Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Kavinda, D.D.C.
The amount of money that company has earned during a given period, usually a quarter or year, as reported based on appropriate accounting standards. Accounting earnings help to quantity the company's profitability, but investors should consider not just earnings quantity, but also earnings quality, in evaluating a company's accounting earnings. For recent years studies were done with regard to the accruals earnings management. Due to the high scrutiny of the lenders and the tendency to detect by the auditors, concepts have been changed to make economic sacrifices rather than manipulating accounting figures, by managing earnings through real activities such as practices that are less likely to draw auditor or regulatory scrutiny. The primary aim of this study is to examine the impact of Leverage on Real Earnings Management activities. The study was conducted using the sample of twenty five manufacturing companies’ listed in Colombo Stock Exchange with a firm-quarter observations for the period of 2009/2010 to 2014/2015 using a panel data analysis. The analysis is done based on the model developed by Roy Chowdhury in 2006.The results indicated that manufacturing companies are having abnormal cash flows and production cost in their operations and there is a significant positive association between the leverage and the real earnings management in the manufacturing companies listed in Colombo Stock Exchange, Which in turn could effects the earnings quality of the companies.
The effects of corporate governance on financial performance
(Department of Accountancy, University of Kelaniya, 2015) Perera, N.
Attention to corporate governance has quite a long history since the seminal paper on the subject of the “principal – agent problem” by Meckling (1976). They argued that the existence of the principal – agent problem as a consequence of the separation of ownership and control raises a conflict of interest between the interests of managers and shareholders. The financial crisis in 2008 and high sketch financial dishonours tends to have concentration of academic researches, policy makers, regulatory institutions and investors to study the level of corporate governance practices and its effect on firm’s financial performance. Mostly, the quality of corporate governance can be assessed on the basis of the principals of disclosures and transparency, relationship with stakeholders including shareholders, policies and compliance, structure and the characteristics of board of directors and the ownership and control structure. According to Black (2006) worthy corporate governance practices strengthen the firm financial performance. This research empirically examines the quality of corporate governance (CG) practices in Sri Lankan listed private banks and their impact on firm’s financial performance in the context of an emerging market such as Sri Lanka. To evaluate the level of corporate governance practices at an identified firm, this study construct a corporate governance index (CGI) which involves four scopes: disclosure and transparency, composition of the board of directors, shareholders’ rights and investor relations, ownership and control structure. Based on a sample of 10 private banks listed on the Colombo Stock Exchange (CSE) in Sri Lanka, the effects of corporate governance on financial performance are assessed. Tobin’s Q is used to evaluate the firm’s financial performance.
Impact of performance evaluation, compensation and promotional practices on employee performance: study in banking sector in Nuwara-Eliya district
(Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Ramani, V.
Corporate Governance and Earnings per Shares: A Study of Sri Lankan Manufacturing Companies
(Department of Commerce and Financial Management, Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Ayesha, P.V.; Chathurika, P.K.A.G.; Kumarihami, H.M.D.A.; Sagarika, D.B.T.; Senanayaka, C.; Sewwandi, R.M.S.
Good corporate governance practices are important in reducing risk for investors, attracting investment capital and improving the performance of companies. This study is initiated on “corporate governance and firm performance” with the samples of 26 listed manufacturing companies in CSE. Data was analyzed using the data representing the periods from 2009 to 2014. Board size, board meeting, executive directors, non-executive directors were used as the determinants of corporate governance whereas earnings per share (EPS) is used as a measure of firm performance. Hypotheses were tested using SPSS statistical software. According to the finding of the research corporate governance make a significant influence on companies EPS. Thus, study concludes that the determinants of corporate governance used in the study are correlated to the performance measures of the organization.
Effect of Emotional Labor on Emotional Exhaustion of Female Nurses in Sri Lankan Hospitals
(Department of Human Resource Management, Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Silva, D.P.A.K.H.; Thisera, T.J.R.
The competition within the service sector made the organizations to think not only about satisfying their consumers but also about going beyond that and delighting their customers. The revolutionary concept of “emotional labor” has emerged as a result of this concept “quality of service”. The present study examines the concepts emotional labor, its two dimensions: surface acting and deep acing and emotional exhaustion. This exploratory study selected hundred nurses under convenience sampling method and used a 43 item survey to collect data. Correlation and regression analyses were conducted to test the proposed hypotheses. In the results of the study it has been determined that there is a relationship between emotional labor and emotional exhaustion, surface acting has a positive relationship with emotional exhaustion while deep acting has a negative relationship with emotional exhaustion which was consistent with previous research findings. In addition it is found that surface acting is the more dominant variable that effect emotional exhaustion. The study has implications for the ways by which nurses manage their emotional exhaustion at their employment. The issue of generalizing the findings over the population, time availability and access restrictions to the hospitals has been identified as limitations of the study.
The effect of leadership style on employee satisfaction
(Department of Accountancy, University of Kelaniya, 2015) Chamika, M.W.
Leadership style is one of the most important factors for organization and employee performance. Therefore very important to find the impact of leadership style on employee job satisfaction and as well as on firm financial performance. There are three types of leadership styles. Transformational leadership style was seen to have a positive effect on various facets of employee job satisfaction. Transactional leadership also turned out to be perceived as having a positive effect on different facets of employee job satisfaction. So did laissez-faire leadership Sanders (2007). Objective of this research is to found the influence of Leadership style to the employee job satisfaction. According to this research the dependent variable is employee job satisfaction and Independent Variables are Leadership Styles. Relating to this research topic other researchers use the primary sources to collect evidence of dependent variables and secondary data to collect evidence of independent variables. Given the presence of multiple dependent variables, this research uses ANOVA to analyze the effect of leadership styles on employee satisfaction and employee performance. Employee job satisfaction was seen to have a positive effect on the various aspects of employee job performance analyzed (Turner & Muller, 2005).
Influence of corporate social responsibility on firms’ profitability
(Department of Accountancy, University of Kelaniya, 2015) Koshila, T.G.S.
Now-a-days Corporate Social Responsibility is gaining prominence among the organizations of various fields. Organizations now are emphasizing on CSR initiatives by integrating their business operations with the CSR activities to sustain in this competitive world. This study is based on secondary data collected through the company annual reports and company guides. In some cases, some data and information was collected from the websites of the sampled firms, different articles and papers. Data were collected for last Six year periods. To measure the profitability data were obtained through annual reports of selected Five Banks. The main purpose of this study was identifying the relationship between Corporate Social Responsibility and firms‟ performance. The relation between CSR activities and Firm value .more important is, perhaps, the lack of understanding about the channels through which CSR affects Firm value. There is a direct link between CSR and Firm value in this show, impact of CSR on Firm value depends on the ability of CSR to influence stakeholders in the Firm. In order to answer these research questions, quantitative method will be used. Furthermore qualitative analysis also conducted to find out what are fields banks invested as CSR. Bank wise analysis was conducted and finally goes for a conclusion of sector.
The performance of value verses growth stocks in Sri Lankan capital market: with special reference to post war era
(Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Herath, H.M.N.P.; Weligamage, S.
Comparative analysis of the impact of merges and acquisitions on financial efficiency of listed telecommunication companies in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Sountharalingam, S.
Determinants of Retention of Psychological Contract of IT Professionals in Sri Lanka
(Department of Human Resource Management, Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Silva, S.A.I.; Weerasinghe, T.D.
Job hopping of employees has become a tremendous issue in IT firms across the world. Literature reveals that the average period of an IT professional remains in a company is around two years. Further, Literature stated that this issue has arisen because many of the IT firms have failed to retain the psychological contract of IT professionals which is formed at the recruitment and the socialization stages successfully. Building a positive psychological contract at the recruitment stage is not enough to retain the talent in the current business environment. It is vital to retain the psychological contract. The purpose of this study was to identify the determinants of psychological contract retention in the domain of IT professionals in Sri Lanka. This is a cross sectional field study which was carried out among a sample of 80 IT professionals. Convenience sampling was applied to select the sample. A self-administered, standard questionnaire was used to collect data. Exploratory Factor Analysis (EFA) was performed to identify the determinants of psychological contract retention with the aid of SPSS. KMO statistics was used to determine the sampling adequacy while factor loading values and extraction sums of squared loadings (cumulative) values were used to draw the conclusion about significant determinants. The results of the current exploratory study revealed that work atmosphere is the most prominent factor which contributes to retain the psychological contract of IT professionals. Further, stimulating job, task description, autonomy, salary satisfaction were found to be significant determinants of psychological contract retention. Job security, intra-organizational mobility, and work life balance & career development were found to be insignificant in retaining the psychological contract of IT professionals in the Sri Lanka. Thus, it is recommended to pay a serious attention to create and maintain a proper work atmosphere through possible policies, procedures and systems in IT firms to retain a sound psychological contract within employees which is to be created at the beginning of once employment.
Inflationary Impact on Capital Structure: An Analysis of Listed Manufacturing Companies in Sri Lanka
(Department of Commerce and Financial Management, Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Chandrasena, M.R.I.N.; de Silva, G.V.G.; Maushani, B.V.N.; Samarakoon, S.M.N.S.; Samarathunga, B.H.A.I.; Fernando, K.S.R.; Samarakoon, K.M.C.; Mapitigama, K.K.P.R.
The capital structure reflects all of the firm’s equity and debt obligations. Firm’s capital structure is determined on several factors and it is very important to lead the firm towards better and performance. Therefore determinants of capital structure obviously play an economically important role in a firm. Hence it is necessary to identify that what factors contribute to the capital structure composition. The current research is conducted to identify the relationship between determinants of the capital structure and the firm’s leverage. As identifications through literature reviews, determinants to the capital leverage (Dependent variables) are profitability, tangibility, firm size and capital intensity & Inflation. In Sri Lanka there is no any study was conducted to identify the relationship between Inflation (Independent Variable) and the capital Leverage (Dependent Variable).According to that the main objective of the present study is to identify the relationship between capital structure and its determinants with the predictor of inflation. To obtain a final conclusion, analyzed 25 manufacturing companies (Sample) listed in Colombo Stock Exchange from the population of 37 manufacturing companies listed in Colombo Stock Exchange during the period of 2010/2011 year of assessment to 2013/2014 year of assessment. Findings showed that capital intensity is a significant predictor of short term leverage, firm size is a significant variable of long term leverage and final model was rejected statistically.
Attitude of Health & Safety Management and Turnover Intention of Industry Level Employees in Colombo Dockyard PLC
(Department of Human Resource Management, Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Gunathileka, S.N.; Pieris, M.D.P.
Human resource is important asset for a firm to gain a competitive advantage. However, it is very difficult to maintain health and satisfy of a firm’s employees. Therefore it is very important to investigate employee’s attitude on health and safety management on their turnover intention. Health and safety management is an important point to retain employees of a company. Thus, this study will examine the relationship between employee attitude on health and safety management and their turnover intention of industry level employees on Colombo Dockyard PLC. To accomplish objectives quantitative research method and questionnaire are used in order to collect primary data. The sample consists of 40 industry level employees. SPSS was used to analyze the data. Research results can be used as a guideline for the organization to have better understand the significance of health and safety management of their employees. Furthermore, it will help design and implement health and safety management strategically to retain employees. In addition to that, results of this research can be used by other companies to implement health and safety management measures for the benefits of their employees.
Impact of Rewards Satisfaction on Employee Performance: A Study of Ceylon Pencil Company (Pvt) Limited
(Department of Human Resource Management, Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Anuradha, W.A.C.; Mohan, D.U.
Human resource is most valuable asset in order to achieve competitive advantage and therefore it is very important to investigate the performance and related factors deeply. Mainly two types of the factors will impact to the performance of the organization and such as extrinsic rewards satisfaction and intrinsic rewards satisfaction. Hence, the main focus of this study is to identify what is the highly influencing factor for employee’s performance among extrinsic rewards satisfaction and intrinsic rewards satisfaction. As well as this study will examine the relationship between extrinsic rewards satisfaction and intrinsic rewards satisfaction and employee performance in Ceylon Pencil Company (Pvt) Limited. The study was conducted among the sample of 60 operational level employees who are working in Ceylon Pencil Company (Pvt) Limited at Peliyagoda. The response rate was 100%. Respondents were asked to indicate their preference on five point Likert scale. Data analysis was conducted by using Statistical Package for Social Sciences (SPSS) with the aid of statistical techniques such as mean, correlation and regression analysis. Findings revealed that there is a positive relationship between rewards satisfaction and employee performance. Intrinsic rewards satisfaction was found to be the most influential. Hence, ways and means to improve employees' intrinsic satisfaction are recommended to HR practitioners and policy makers.
Determinants of Share Price in Hotels and Travels Industry, Sri Lanka
(Department of Finance, Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Silva, P.V.A.M.F.
This study tries to identify the relationship between share price and the determinants of share price in hotel and travel industry of Sri Lanka. Furthermore the relationship is analysed under the periods during war and after war. To achieve the objectives of this study, a sample of 16 companies in hotels and travel industry, Sri Lanka has been selected based on the highest market capitalization. Ratio analysis, unit root test, correlation and linear multiple regression models have been used to analyse the data which was collected through the Colombo stock exchange corporate annual reports for the period from 2005 to 2013. The results reveals that dividend per share, earnings per share and net asset value per share have a significant positive relationship with market price per share. Net asset value per share, earnings per share and dividend per share can be considered as the determinants of market price of the share because those variables are significant using the multiple regression model. According to the findings from the regression analysis between the time periods it indicates that net asset value per share, earnings per share and gross domestic product affect market price of the share during the war period whereas dividend per share, net asset value per share and earnings per share affect market price of the share after the war.
Impact of fair value disclosure of financial instruments in a bank for the fair presentation
(Department of Accountancy, University of Kelaniya, 2015) de Silva, U.
This research is based on the study of the impact of fair value disclosure of financial instruments in a bank for the fair presentation. Study whether it affects to the decision makers. For many years, users of financial statements have sought relevant and timely information about financial instruments and offbalance sheet items and activities. It is believe that fair value measurements and recognition of these values in the financial statements, along with adequate disclosures, will provide necessary information to evaluate properly an enterprise’s exposures to financial risks, as well as rewards (Anonymous, 2002).It is mandatory requirement by IFRS 7, firms to disclose fair value estimates of financial instruments. This paper contributes to assess the accounting practices of disclosure requirements of fair value of financial instruments in Sri Lankan banks. Whether fair value reporting reflects the economic reality by showing the volatility inherent in the values of financial instruments given changes in market conditions and operations of the enterprise (Anonymous, 2007). There are some important conceptual and practical issues relating to the reliable determination of fair value, it is better to first require full fair value disclosures before contemplating a shift to full fair value recognition in financial statements. That would enable investors, creditor, preparer, auditors, and regulators to learn from experience (Chea, 2011). This research is based on the secondary data. Secondary data will be collected by analysing the financial statements of 25 banks in Sri Lanka for the period of 5 years and referring research studies, empirical reports, and articles.
Employee performance appraisal and its implication for organizational growth
(Department of Accountancy, University of Kelaniya, 2015) Jayarathne, I.
Performance means “a basic instructional method in which the trainee is required to perform, under controlled conditions, the operation, skills, or movement being taught” (Tracey,1998:391). Performance Appraisal has been considered as the most significant and indispensable tool for an organization (Sanjeet,2009). Organizational performance and its resultant efficiency and effectiveness can only be achieved when individuals are continuously appraised and evaluated. The inability of organization to install an effective performance appraisal strategy has hindered them from achieving competitive advantage which they require more now than ever before (Chris,2011). Organizations should stop giving less attention to the evaluation of their employees and recognize that organizational training needs can only be identified from performance appraisal outcomes. It is an invaluable tool but in the hands of human resource management officers to continuously evaluates and audits the performance of its employees in other to help organizations win competitive advantage (Obisi.2011). This paper seeks to assess the impact of employee performance appraisal on the organizational growth and will concentrate on examine the effect of the performance appraisal on the organizations. The data used for the study is primary data collected through the help of questionnaire filled by the samples and the secondary data is collected through audited financial statements. The data will be evaluated with the help of statistical tools that is descriptive statistics, regression, correlation and residual analysis. The importance of findings of this research is to assess whether there is a noticeable effect of the performance appraisal on the organization.
Impact of Bank Income Diversification to Bank Performance: Evidence from Sri Lanka
(Department of Finance, Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Wijethilaka, E.T.S.
Conventional perception in banking disputes that diversification tends to minimize bank risk and improve performance. This paper addresses this important strategy by evaluating the empirical relationship between bank income diversification and bank performance. The main objective of the study is to investigate the impact of income diversification on bank performance of Sri Lankan listed commercial banks. The lack of researchers regarding this topic under Sri Lankan banks and need of investigating the strategies to face the high competition within commercial banks in Sri Lankan context motivated the researcher to conduct a study regarding this area. This data set of the study covers Sri Lankan commercial banks during the sample period of 2010-2014. Data utilized in this study were extracted from the statement of comprehensive income and statement of financial position of listed banks in Colombo Stock Exchange (CSE) database. There are some control variables like asset size, equity and asset growth added to the model to ensure that there is no any effect for the relationship between bank income diversification and bank performance. Based on the findings of the research there is a positive relationship between bank income diversification and bank performance despite the fact that degree of diversification being not in the peak within Sri Lankan context. Additionally, asset size and asset growth variables are not significant variables to the both ROA and ROE models due to lack of risk management, information technology, human capital, geographical diversification and lower cost of capital within commercial banks in Sri Lankan context. But equity variable shows a significant negative relationship with bank performance in both models.
The impact of customer retention and customer service quality on customer satisfaction in the Sri Lankan banking sector
(Department of Accountancy, University of Kelaniya, 2015) Madushanka, G.G.A.S.D.
It is obvious that customers are important stakeholders in organizations and their satisfaction is a priority to management. Customer satisfaction has been a subject of great interest to organizations and researchers alike. In recent years, organizations are obliged to render more services in addition to their offers. The quality of service has become an aspect of customer satisfaction. It has been proven by some researchers that service quality is related to customer satisfaction. Others used service quality dimensions to evaluate service quality. s. The emergence of new forms of banking channels such as Internet banking, Automated Teller Machines (ATM), phone banking and also maturing financial market and global competition have forced bankers to explore the importance of customer loyalty. (Ganjinia, Gilaninia, & Tajani, 2013) Therefore, studies need to focus on the changing role of the banking system and its dynamic financial market. This study will be undertaken with the objective of finding out the impact of the service quality on customer‘s satisfaction in banking sectors. For this study, Quality of services will be evaluated by reliability, functionality, responsiveness service design and assurances, and also reviewed with help of the GAP (SERVQUAL) analyze. Primary data will be collected through by developing self-administered questionnaire from the selected customers. Formal Interview and focus group discussion will be taken place to find out the influences on purchasing. The data will be contained the personal details, demographic details and perception of Customers on all dimensions of service quality. Such analysis will be helpful to guide to actions that must be taken by the service provider to retain it’s predict customers.
Customer Perception and Awareness towards Mobile Money: The Study Based On Colombo and Gampaha Districts
(Department of Finance, Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Weerabangsa, K.K.M.D.
This research study has mainly focused on customer perception and awareness towards mobile money service in Sri Lanka. It has used a structured questionnaire which has been distributed within Colombo and Gampaha districts among mobile phone users. According to the findings of the research most of the m-money users in Western Province are facilitated with the fund transferring service. Awareness of the customers in Western province is at a satisfactory level in considering the results obtained from the questionnaires. As well it was identified m-money customers has faced many problems mainly with the m-money agents, limitation in the amount approved for transferring, lack of cash points in every village. Some respondents has stated that they have not engaged with m-money service due to lack of trust, and understanding. As per the respondents the trust on this service has in a lower level due to the unavailability of proper legal framework for m-money service in Sri Lanka. This has caused for arising illegal activities like mainly the money laundering. Based on this situation it has recommended for future researchers to pay their attention on the risks associated with m-money service in Sri Lanka which can be useful for considering in establishing a proper legal framework to m-money service.