Symposia & Conferences
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Item Financial leverage and Firm Performance: Evidence from Sri Lankan Beverage, Food and Tobacco Companies(4th International Conference for Accounting Researchers and Educators, Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2018) Imalka, H.A.; Aruppala, W.D.N.This study investigates the effect of firm leverage and product diversity towards the financial performance of Sri Lankan Beverage, food and tobacco companies. Beverage, food and tobacco companies listed in Colombo Stock Exchange (CSE) for the period of 2011 to 2017. Financial leverage was considered as the independent variable and a financial performance was considered as the dependent variable. Accordingly debt to equity ratio & debt to asset ratio was used to measure the financial leverage and ROA; ROE & EPS were used as measures of financial performance. Product diversity was used as the moderating variable of this study. The secondary data obtained from corporate annual reports of sample companies were used in this study and descriptive statistics, correlation and regression analysis were used to analyses data of this study. Results of the study show a positive relationship between financial leverage and financial performance. Thus, alternative hypothesis which proposed as there is a relationship between financial leverage and firm performance was accepted and rejected the null hypothesis which proposed as there is no relationship between financial leverage and firm performance. Findings conclude that Beverage, food & tobacco sector companies of Sri Lanka can enhance their financial performance and profitability margins by having proportion of leverage in their capital structuresItem Corporate Governance and Firm Performance: A Study of Sri Lankan Beverage, Food and Tobacco Companies(University of Kelaniya, 2014) Kawshalya, P.; Aruppala, D.Corporate governance is a highly discussed topic which received the attention of corporate world during the last decade due to the paramount importance embodied within it for the company performance and stability. Basically corporate governance means the set of rules by which management of the company is directed and controlled. It attempts to ensure that managers and other insiders of an organization take measures or adopt mechanisms to safeguard the interest of stakeholders. With the global financial crisis which affected many of the world business giants, companies are highly concerned to improve their corporate governance practices and therefore today researchers also have a great awareness to carry out researches in this area. However currently in Sri Lanka context less researches available on Corporate Governance. This study focuses on “Corporate Governance and Company Performance” considering all Beverage, Food and Tobacco companies listed in Colombo Stock Exchange as at December 2013. Data was analyzed using the data of financial year 2012/13. Data was analyzed using SPSS statistical software and hypothesis were tested performing descriptive statistics, correlation analysis and regression analysis for collected data. According to the findings of the research corporate governance does not make a significant influence on companies ROE, ROA and EPS. Thus, study concludes that the determinants of corporate governance used in the study are not correlated to the performance measures of the organization.