http://repo.lib.jfn.ac.lk/ujrr/handle/123456789/119 Thu, 10 Sep 2026 10:48:11 GMT 2026-09-10T10:48:11Z http://repo.lib.jfn.ac.lk/ujrr/handle/123456789/13033 Title: Corporate Environmental Disclosure Practices in Sri Lanka: A GRI-Based Assessment Authors: Tharsika, K.; Keerthana, S. Wed, 01 Jan 2025 00:00:00 GMT http://repo.lib.jfn.ac.lk/ujrr/handle/123456789/13033 2025-01-01T00:00:00Z http://repo.lib.jfn.ac.lk/ujrr/handle/123456789/13032 Title: Environmental Disclosure and Firm Value in Emerging Markets: Insights from Sri Lankan Listed Companies Authors: Tharsika, K.; Keerthana, S. Abstract: The growing emphasis on environmental, social, and governance (ESG) criteria has increased pressure on firms to disclose environmental information. However, evidence on how corporate environmental disclosure (CED) affects firm value remains limited in emerging markets such as Sri Lanka, particularly in the post-COVID-19 period. This study examines whether voluntary CED enhances market valuation in a context where reporting practices are still evolving. Using a quantitative approach, panel data were collected from 100 companies listed on the Colombo Stock Exchange between 2020 and 2024. Environmental disclosure was measured through content analysis of annual reports based on the Global Reporting Initiative framework, while firm value was proxied by Tobin’s Q. Firm size, leverage, profitability, sales growth, and age were included as control variables. Fixed-effects panel regression results reveal a significant positive relationship between environmental disclosure and firm value. The findings support stakeholder and legitimacy theories, suggesting that transparent environmental reporting enhances investor confidence and market credibility. The study highlights the strategic importance of environmental disclosure for firms and policymakers in emerging markets. Thu, 01 Jan 2026 00:00:00 GMT http://repo.lib.jfn.ac.lk/ujrr/handle/123456789/13032 2026-01-01T00:00:00Z http://repo.lib.jfn.ac.lk/ujrr/handle/123456789/13031 Title: Corporate Internet Reporting as a Mediator Between Corporate Governance and Firm Value: Evidence from Sri Lanka Authors: Tharsika, K.; Pratheepkanth, P.; Jayasiri, N.K. Abstract: This study investigates how corporate governance characteristics— specifically board attributes and audit committee attributes—affect firm value, with Corporate Internet Reporting (CIR) examined as a mediating mechanism among listed non-financial companies in Sri Lanka. Using a quantitative, deductive approach, the study analyzes cross sectional secondary data from 97 firms for the 2022/23 period, obtained from annual reports and corporate websites. Partial Least Squares Structural Equation Modeling (PLS SEM) is employed to assess the relationships among governance mechanisms, CIR disclosure, and firm value measured by Tobin’s Q. The results show that board characteristics exert a significant positive effect on both CIR practices and firm value, with CIR partially mediating the relationship between board characteristics and firm value. In contrast, audit committee attributes do not significantly influence CIR or firm value, and no mediating effect is observed. The study contributes to the literature by empirically validating CIR as a governance driven signaling mechanism in an emerging market context and provides practical insights for regulators and corporate leaders seeking to strengthen board effectiveness, enhance transparency, and improve investor confidence. Thu, 01 Jan 2026 00:00:00 GMT http://repo.lib.jfn.ac.lk/ujrr/handle/123456789/13031 2026-01-01T00:00:00Z http://repo.lib.jfn.ac.lk/ujrr/handle/123456789/13030 Title: Impact Of Selected Corporate Governance Characteristics on Financial Distress: Evidence from Listed Companies in Sri Lanka Authors: Priyanka, S.; Tharsika, K. Abstract: This paper examines how corporate governance mechanisms impact financial distress of listed non-financial companies in Sri Lanka, which is an emerging market typified by a concentrated ownership structure, a dynamic regulatory framework, and a relatively weak institutional enforcement. The study adopts a quantitative research design and utilizes panel data collected from the annual reports of 74 non-financial companies listed on the Colombo Stock Exchange (CSE) over the period from 2019 to 2023. The companies were selected using a simple random sampling method to make sure that the sample of the population was not biased in terms of sector. Financial distress was measured using the popular Altman Z-score model, and corporate governance was assessed based on four board-specific variables: board size, number of board meetings, board independence, and CEO duality. A panel regression model of fixed effects was to be used to test the hypothesized relationships with the control of unobservable characteristics of the firms. The results suggest that the financial distress is negatively affected by board size and board meeting frequency in a significant negative way, which implies that the bigger the boards and the more frequent the board meetings, the greater the ability of the companies to sustain themselves in case of financial difficulties. These findings confirm the resource dependence theory, which argues the relevance of board diversification and proactive participation in enhancing organizational resilience. Contrastingly, CEO duality shows that the agency theory that the concentration of managerial and supervisory power undermines board oversight and leads to an increase in governance risks is supported by a strong positive correlation with financial distress. However, board independence was statistically negligible, which means that formal independence is not necessarily an effective measure of monitoring in the Sri Lankan corporate setting. The study adds to the literature on corporate governance with empirical evidence in Sri Lanka in the period of 2019-2023 that has encompassed the devastating economic crisis of 2022 in the country. The study contributes to a fresh understanding of the operations of governance systems to prevent corporate financial weaknesses in emerging economies through the application of financial distress instead of firm performance. Wed, 01 Jan 2025 00:00:00 GMT http://repo.lib.jfn.ac.lk/ujrr/handle/123456789/13030 2025-01-01T00:00:00Z