http://repo.lib.jfn.ac.lk/ujrr/handle/123456789/9595 2026-04-04T05:23:07Z http://repo.lib.jfn.ac.lk/ujrr/handle/123456789/10034 Title: Financial Mismanagement of Small Businesses: A Study Based on The Hotel Industry in Nuwara Eliya District Authors: Kariyakarawana, K.I.P.; Panditharathna, K.M.; Ranwala, R.S.; Nimeshi, G.K.S. Abstract: The purpose of the study was to identify the financial mismanagement of small businesses and their effect on the business’s success. This research used the qualitative approach and continued the study through the general qualitative method. Sample were selected based on the purposive sampling method. Accordingly, data collection was done through in-depth interviews with owners of six small businesses in the Talawakele - Lidula Municipal Council area in the Nuwara Eliya District. The data were analysed, and themes were derived using thematic analysis. The main mismanagement identified from the study was mismanaging start-up capital, cash flows, budgetary system, personal spending, retained earnings, and working capital. Due to these mismanagements, businesses cannot run with a proper plan. The findings of this study will enable small businesses to identify their financial mismanagement. These findings will also help policymakers to identify the areas that are required to improve the financial management literacy of small business owners. 2023-01-01T00:00:00Z http://repo.lib.jfn.ac.lk/ujrr/handle/123456789/10033 Title: Determinants of Debt Financing Decision in Sri Lankan Listed Companies Authors: Koperunthevy, K. Abstract: The primary objective of an organization is to maximize wealth for its shareholders, and for this purpose, the finance manager makes several financial decisions. Financing for its assets is one of the significant financial decisions that concentrates financing with owners' equity or debt from external parties. Several factors influence the financing decision, even though determinant factors of debt financing decisions may differ from time to time due to the changing internal environment of organizations. Therefore, the study aims to identify the internal factors determining the debt financing decisions in Sri Lankan listed companies. Colombo Stock Exchange (CSE) consisted of 294 listed companies in 2022, and data were collected from selected 100 non-financial companies from 2008/09 to 2020/21. The dependent variables are a total debt to total assets (Debt ratio), and long-term debt to total assets, and the independent variables are profitability, non-debt tax shield (NDTS), tangibility, growth, size, reputation, liquidity, and risk. Descriptive statistics, correlation, pooled, fixed, and random effect models were used to prove the objective. The results reveal that NDTS and growth are positive, and profitability, tangibility, size, reputation, liquidity, and risk negatively influence total debt decisions. The size of the firm negatively influences the long-term debt decision. Therefore, the study concludes that internal factors are essential to determining the debt decision, and the study will benefit the finance managers for the financing decision and to select the optimum capital structure. 2023-01-01T00:00:00Z http://repo.lib.jfn.ac.lk/ujrr/handle/123456789/10032 Title: Investor’s Intention to Invest in The Stock Market Amidst The Economic Crisis in Sri Lanka: Using an Extended Theory of Planned Behavior Authors: Lokuge, L.W.Y.P.; Kumari, J.S. Abstract: The primary objective of this research is to investigate the behavior of individual investors in the context of stock market investments during Sri Lanka's economic crisis. The study employs an extended version of the Theory of Planned Behavior (TPB) to comprehensively understand the factors influencing individual investor decisions. Utilizing a quantitative approach, the research aims to determine the better prediction of this expanded TPB in predicting individual investor behavior amid economic challenges. Data was collected through a systematic self-administered questionnaire distributed to both existing and potential individual investors. The relationship between variables was analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results demonstrated that, amid the economic crisis, the subjective norms towards investing had the largest impact on individuals' intentions to participate in the stock market and Risk avoidance and Uncertainty avoidance had a highly significant influence on investor’s intentions. This research examined only current and prospective Colombo stock market investors' investment intentions during Sri Lanka's economic crisis. Few studies have attempted to include risk avoidance and uncertainty avoidance within a decision-making framework and future studies focus on these diverse market contexts. Owing to the economic downturn in Sri Lanka, the augmented TPB put forth in this study has contributed valuable insights for financial professionals, regulators, as well as existing and prospective investors. It furnishes a substantial knowledge base to aid in making informed investment decisions. Furthermore, it offers an expanded comprehension to existing and potential investors about the intricacies of the relationship between investment intentions, thereby widening their perspective. 2023-01-01T00:00:00Z http://repo.lib.jfn.ac.lk/ujrr/handle/123456789/10031 Title: Nexus Between Possibility of Fraudulent Financial Reporting and Corporate Governance: Evidence from Bangladesh Authors: Parvin, R.; Akter, M. Abstract: This paper intends to test the nexus between the possibility of fraudulent financial reporting and the corporate governance in Bangladesh. The content analysis of annual reports has been performed for 125 Bangladeshi listed manufacturing companies. In this study, we apply more than one fraud indicator models such as Altman Z-score and Beneish M-score models to determine more accurately the chance of fraudulent financial reporting. The chance of fraudulent financial reporting is determined based on whether either one or both of Altman Z-score and Beneish Mscore models show red flags of potential fraud. This study found that board members with finance or accounting backgrounds are less likely to practice in misleading financial reporting since they may have the knowledge essential to understand fraudulent financial reporting strategies. This result implies that qualified directors may supervise financial reporting practices better, hence improving the quality of financial reports. Alternatively, some other components of corporate governance, such as board size, board independence, director ownership, gender diversity, and auditors' independence, have insignificant impacts on fraudulent financial reporting practices. This outcome indicates that these Bangladeshi corporate governance components may not be as strong in improving financial reporting credibility. In the context of Bangladesh, this is the first empirical study with management and policy implications. To the best of the writers’ knowledge, no article yet has been worked on the possibility of fraudulent financial reporting which calculated by multiple models and its relationship with the corporate governance in the context of Bangladesh. 2023-01-01T00:00:00Z