Symposia & Conferences
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Item Capital Structure and Firm Performance: Evidence from Listed Food and Beverage Companies in Sri Lanka(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Rajapaksha, R.M.P.W.M.; Wijesinghe, K.D.G.N.Capital structure refers to the percentage of money at work in a company. There are two forms of capital: equity capital and debt capital. The firm’s capability of accomplish the needs of its stakeholders is closely related to the firm’s Capital Structure decisions. Capital Structure decision is to find out the best mix of debts and equity that a company uses to finance its business. This analysis performs to identify the relationship between Capital Structure and performance of the food and beverage companies in Sri Lanka, The examination performs using 15 companies listed on the Colombo Stock Exchange covering the years 2010-2015. The review utilizes Return on assets as dependent variable as well as the three capital structure measure Short Term Debt to Total Assets, Long Term Debt to Total Assets & Total Debt To Equity as autonomous variable. Descriptive, Regression and correlation analysis use as a techniques for measure the variables. The outcome reveals a positive relationship between the Short-Term Debt to Total Assets and Return on Assets. However there is a negative relationship between the Long-Term Debt to Total Assets and Return on Assets. The relationship between Total Debt and Return on Assets show a positive association as these findings analysis discovered that there is significant relationship between capital structure and performance of the listed food and beverage industry in Sri Lanka. Furthermore increasing short term debt within an organization will lead to enhance the performance of the food and beverage industry in Sri Lanka nevertheless keeping more long term debt will lead to decrease the performance of the listed food and beverage industry in Sri Lanka.Item Impact of Capital Structure on Performance of Listed Manufacturing Companies in Sri Lanka(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Perera, M.A.K.C.; Wijesinghe, K.D.G.N.This research investigates the impact of capital structure on performance of manufacturing companies’ listed Colombo stock exchange (CSE). Capital structure is the combination of debt and owners’ equity. Objective of this study is to find out relationship between capital structure and firm performance while searching factors which are significantly affect performance of listed manufacturing companies. This study uses panel data of 16 manufacturing sector companies listed in CSE for the period of 8 years (2009 to 2016). The researcher is use descriptive statistics, correlation and multiple regressions for analysis purpose. The researcher develops five models by considering five different performance measurements as dependent variable. Namely; Net profit ratio (NPR), Gross profit ratio (GPR), Return on asset (ROA), Return on equity (ROE) and Return on capital employed (ROCE). Further researcher is uses Debt to equity ratio (DTE), Debt to asset ratio (DTA), Long term debt ratio (LTDR) and Short term debt ratio (STDR) as explanatory variables for the study. Results reveals except long term debt ratio, other explanatory variables have negative relationship with firm performance and all five regression models accept long term debt ratio as significantly effects to firm performance.