http://repo.lib.jfn.ac.lk/ujrr/handle/123456789/5686 2026-04-17T19:11:50Z 2026-04-17T19:11:50Z Velayutham, E. http://repo.lib.jfn.ac.lk/ujrr/handle/123456789/1652 2022-10-21T08:06:50Z 2019-01-01T00:00:00Z

Title: Investor recognition, liquidity, and post-issue performance following rights offerings: Evidence from a frontier market Authors: Velayutham, E. Abstract: This paper examines changes in investor recognition and liquidity around rights offerings in a frontier market, viz., Sri Lanka. We find that offer characteristics such as issue proceeds and offer price discounts improve investor recognition. We find that larger offer price discounts and offer proceeds are associated with increases in investor recognition. Further, we find that announcements of rights issues reduce information asymmetry and as a result, liquidity improves in the post rights issue announcement period. In addition, we find a strong positive association between liquidity improvements and increases in investor recognition. Finally, we find that greater investor recognition is negatively associated with contemporaneous and post- issue abnormal stock returns, whereas increases in liquidity are positively associated with post-issue abnormal returns. Overall, we show that rights issues in a frontier market affect both investor recognition and liquidity.

2019-01-01T00:00:00Z Indrani, M.W. Wickremasinghe, G. Naidoo, Muthusamy http://repo.lib.jfn.ac.lk/ujrr/handle/123456789/1651 2022-10-21T08:06:33Z 2019-01-01T00:00:00Z

Title: Exploring structures of product costing systems adopted by Sri Lankan listed companies: focusing on traditional vs. activity based costing systems Authors: Indrani, M.W.; Wickremasinghe, G.; Naidoo, Muthusamy Abstract: As the business environment has been changing continuously, it is critical to ensure that an appropriate MA system is adopted in organizations for intended purposes. The main objective of this study is to investigate patterns of adopting management accounting (MA) techniques by Sri Lankan listed companies for product costing purposes. This study applies Mixed Method Research approach. Accordingly, data were collected from 42 listed companies representing five industry sectors in Sri Lanka: Food Beverages & Tobacco, Chemicals & Pharmaceuticals, Diversified Holdings, Manufacturing, and Plantation, through interviews and discussions supplementary to the survey. The main tools of analysis for quantitative data were frequency tables, Pie charts, bar charts and Fisher’s exact tests using SPSS software, and thematic analysis and content analysis for descriptive data. The findings suggest that Traditional Costing (TC) systems are still popular among all selected industry sectors/companies except for Plantation sector who apply TC by 25% of companies, as they all apply ABC instead. Considering multiple costing systems, the most popular combination is the application of TC with an activity based costing (ABC) system, as complements or alternatives to one another. The study concludes that listed companies are satisfied with the MA techniques adopted for product costing as either single or multiple systems, regardless of whether they are traditional or modern techniques. Even though Sri Lankan listed companies are functioning with sufficient resources and well-equipped staff that require adoption of modern MA techniques i.e. ABC, most reveal that they still see no need to adopt such techniques because they are satisfied with existing systems and applications.

2019-01-01T00:00:00Z Indrani, M.W. Wickremasinghe, G. Naidoo, Moonsamy http://repo.lib.jfn.ac.lk/ujrr/handle/123456789/1650 2022-10-21T08:06:36Z 2019-01-01T00:00:00Z

Title: Patterns of executing budgeting as a tool of planning and control: with special reference to listed companies in Sri Lanka Authors: Indrani, M.W.; Wickremasinghe, G.; Naidoo, Moonsamy Abstract: In the modern business world, budgets accomplish a significant role both in planning and control of businesses towards attaining organizational goals. The purpose of this study is to investigate patterns of executing budgeting technique by different companies/industry sectors, in realizing intended purposes. Applying Mixed Method Research (MMR) approach, data for this study was collected through questionnaire survey and discussions with financial executives of 42 listed companies representing five sectors. In view of the major types of simultaneous and sequential mixed methods deigns, this research is concerned with two paradigms (out of eight paradigms): QUAN + qual and QUAN → qual, respectively. The survey data were analyzed using SPSS software and frequency tables while employing ‘thematic analysis’ and ‘content analysis’ for descriptive data. It identified ‘results point of interface’ as the suitable position for integrating core component ‘QUAN’ and supplemental component ‘qual’ to provide meaningful interpretations and sound conclusions for the study. Patterns of application of budgeting vary to a considerable extent from one another within the industry and between industries. Such differences may be largely attributed to the nature of businesses, impact of environmental changes on business activities, markets served (local or foreign), policies, procedures, and specific circumstances that individual companies exercised. Thus, it suggests that these factors may have an impact on the patterns of budgeting practices adopted by individual companies/ industry sectors. Findings conclude that budgeting seems to be the most important technique for all companies irrespective of their sector, playing the biggest role for planning than control of businesses. This study provide helpful insights and useful guidelines to business entities practicing under different organizational contexts and influences, in applying certain MA techniques i.e. budgeting in a proper way making sure that they are moving on to appropriate direction towards achieving organizational goals and hence business sustainability.

2019-01-01T00:00:00Z Wijerathna, A.G.H.S.K. Perera, H.A.P.L. http://repo.lib.jfn.ac.lk/ujrr/handle/123456789/1649 2022-10-21T08:06:32Z 2019-01-01T00:00:00Z

Title: A study of ethical perspective towards tax evasion in Sri Lanka Authors: Wijerathna, A.G.H.S.K.; Perera, H.A.P.L. Abstract: Tax evasion is a major problem in developing countries like Sri Lanka. Tax revenue is one of the main sources of government revenue. Government has to face difficulties of funding the government projects and paying for government expenditure when tax payers do not pay or under pay taxes. This study is aimed at identifying the ethical perspective of Sri Lankans towards tax evasion. Further, this study is also aimed at analyzing tax evasion based on several demographic characteristics and identifying the strongest arguments that are in favor and against of tax evasion from an ethical point of view. Data was collected from 50 tax payers and 50 non-tax payers through a questionnaire and analyzed. Based on the analysis conducted, it was identified that the strongest argument which is in against of tax evasion is, “tax evasion is ethical if everyone is doing it”. Further, the strongest argument which is in favor of tax evasion is, “tax evasion is ethical even if a large portion of money collected is spent on projects that do benefit the tax payer”. The findings if this study would be useful for the government in order to take actions to improve the tax collection from Sri Lankans.

2019-01-01T00:00:00Z