{"title":"Effect of corporate governance on stock return in firms listed in Colombo Stock Exchange","authors":"M. Wanniarachchige, L. D. De Silva","doi":"10.4038/ijabf.v8i1.116","DOIUrl":"https://doi.org/10.4038/ijabf.v8i1.116","url":null,"abstract":"","PeriodicalId":198654,"journal":{"name":"International Journal of Accounting and Business Finance","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125540205","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Accounting information system and financial performance: Empirical evidence on Sri Lankan firms","authors":"S. Thennakoon, N. Rajeshwaran","doi":"10.4038/ijabf.v8i1.115","DOIUrl":"https://doi.org/10.4038/ijabf.v8i1.115","url":null,"abstract":"","PeriodicalId":198654,"journal":{"name":"International Journal of Accounting and Business Finance","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115417819","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Financial shocks of stock markets and COVID-19 pandemic: an empirical study on Asian countries","authors":"P. Pathiraja, J. Kumari","doi":"10.4038/ijabf.v8i1.120","DOIUrl":"https://doi.org/10.4038/ijabf.v8i1.120","url":null,"abstract":"","PeriodicalId":198654,"journal":{"name":"International Journal of Accounting and Business Finance","volume":"57 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115035807","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
K. Maran, T. Sivagami, C. Senthilnathan, S. Sankar, V. Hemanthkumar
{"title":"Empowerment of Rural Entrepreneurs and Influencing Factors for Performing Business in India","authors":"K. Maran, T. Sivagami, C. Senthilnathan, S. Sankar, V. Hemanthkumar","doi":"10.4038/ijabf.v7i0.112","DOIUrl":"https://doi.org/10.4038/ijabf.v7i0.112","url":null,"abstract":"","PeriodicalId":198654,"journal":{"name":"International Journal of Accounting and Business Finance","volume":"137 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120983684","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
S. Francis, N. Ravinthirakumaran, M. Ganeshamoorthy
{"title":"The Impact of Macroeconomic Variables on Stock Prices in Sri Lanka: A Bounds Testing Approach","authors":"S. Francis, N. Ravinthirakumaran, M. Ganeshamoorthy","doi":"10.4038/ijabf.v7i0.108","DOIUrl":"https://doi.org/10.4038/ijabf.v7i0.108","url":null,"abstract":"","PeriodicalId":198654,"journal":{"name":"International Journal of Accounting and Business Finance","volume":"128 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123226115","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Challenges for financial inclusion through microfinancing: the goal incongruence between top management and the loan officers","authors":"L. Karunaratne, M. Madurapperuma","doi":"10.4038/ijabf.v7i2.97","DOIUrl":"https://doi.org/10.4038/ijabf.v7i2.97","url":null,"abstract":"","PeriodicalId":198654,"journal":{"name":"International Journal of Accounting and Business Finance","volume":"483 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134074115","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Financial performance of listed commercial banks in Sri Lanka: does corporate social responsibility matter?","authors":"H. Jeewanthi, G. Jeewantha, M. Indrani","doi":"10.4038/ijabf.v7i2.93","DOIUrl":"https://doi.org/10.4038/ijabf.v7i2.93","url":null,"abstract":"","PeriodicalId":198654,"journal":{"name":"International Journal of Accounting and Business Finance","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114189427","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Financially literate individual investors can make smart investment decisions over complex financial scenarios to boost their financial wealth. The aim of the study is to investigate the influence of financial literacy on investment decisions of individual investors in Jaffna district. Further this study explores the impact of financial knowledge, financial behavior and financial attitude on investment decisions of individual investors. Two hundred individual investors in Jaffna district were selected as sample by using random sampling technique and primary data was collected through a structured questionnaire. Financial literacy consists of three dimensions namely financial knowledge, financial behavior and financial attitude whereas investment decisions are measured by accounting information, self/firm-image coincidence, advocate recommendations and personal financial needs. Data was analyzed using the techniques of correlation, regression, t-test and ANOVA. The results reveal that financial literacy significantly positively impacts on investment decisions of individual investors in Jaffna district. The findings recommend the necessity for effective financial literacy programs focusing especially on enhancing financial knowledge, behaviors and attitude to facilitate informed investment decisions of individual investors.
{"title":"Impact of Financial Literacy on Investment Decisions: Evidence from Individual Investors in Jaffna District","authors":"S. Balagobei, V. Prashanthan","doi":"10.4038/ijabf.v7i0.113","DOIUrl":"https://doi.org/10.4038/ijabf.v7i0.113","url":null,"abstract":"Financially literate individual investors can make smart investment decisions over complex financial scenarios to boost their financial wealth. The aim of the study is to investigate the influence of financial literacy on investment decisions of individual investors in Jaffna district. Further this study explores the impact of financial knowledge, financial behavior and financial attitude on investment decisions of individual investors. Two hundred individual investors in Jaffna district were selected as sample by using random sampling technique and primary data was collected through a structured questionnaire. Financial literacy consists of three dimensions namely financial knowledge, financial behavior and financial attitude whereas investment decisions are measured by accounting information, self/firm-image coincidence, advocate recommendations and personal financial needs. Data was analyzed using the techniques of correlation, regression, t-test and ANOVA. The results reveal that financial literacy significantly positively impacts on investment decisions of individual investors in Jaffna district. The findings recommend the necessity for effective financial literacy programs focusing especially on enhancing financial knowledge, behaviors and attitude to facilitate informed investment decisions of individual investors.","PeriodicalId":198654,"journal":{"name":"International Journal of Accounting and Business Finance","volume":"53 4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127573244","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Sustainability reporting based on GRI standards and corporate financial performance: a study on selected listed companies in Sri Lanka","authors":"B. Kowsana, P. Muraleetharan","doi":"10.4038/ijabf.v7i2.99","DOIUrl":"https://doi.org/10.4038/ijabf.v7i2.99","url":null,"abstract":"","PeriodicalId":198654,"journal":{"name":"International Journal of Accounting and Business Finance","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130391552","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study aims to test the validity of the Fama and French Three-Factor Model (FF3FM) in explaining the cross-sectional variation in stock returns of the diversified financial companies listed on the Colombo Stock Exchange (CSE). It adopted the Fama and French (1992) approach to construct the portfolios. Accordingly, six portfolios were constructed using a 2x3 annual sorting procedure based on market capitalization and book to market equity ratio. The sample period spans for five years, from April 2014 to March 2019 and the sample is included 37 diversified financial companies listed on the CSE. The data analysis is based on both descriptive statistics and inferential statistics which are derived on correlation analysis and multiple regression analysis. The results indicate that FF3FM performs well in explaining cross-sectional variation in stock returns. All three factors of the model market risk premium, size premium, and value premium exhibit significant relations with excess portfolio returns. The study also finds that market risk premium is the most prominent factor of the model, while the other two factors share equal explanatory power. The results further confirm that FF3FM outperforms Capital Assets Pricing Model (CAPM) in explaining cross-sectional variation in stock returns. The study supports the prediction of Fama French (1992) that high BE/ME ratio portfolios outperform the portfolios with low BE/ME ratios. Considering these findings, it is recommended that, in addition to stock beta, size and value information should be made available to stock investors for conducting better assessment of uncertainties associated with investment returns.
{"title":"Validity of Fama-French Three Factor Model for Diversified Financial Companies Listed on the Colombo Stock Exchange","authors":"Prasanna Madhuranthagan, K. Shantha","doi":"10.4038/ijabf.v7i0.109","DOIUrl":"https://doi.org/10.4038/ijabf.v7i0.109","url":null,"abstract":"This study aims to test the validity of the Fama and French Three-Factor Model (FF3FM) in explaining the cross-sectional variation in stock returns of the diversified financial companies listed on the Colombo Stock Exchange (CSE). It adopted the Fama and French (1992) approach to construct the portfolios. Accordingly, six portfolios were constructed using a 2x3 annual sorting procedure based on market capitalization and book to market equity ratio. The sample period spans for five years, from April 2014 to March 2019 and the sample is included 37 diversified financial companies listed on the CSE. The data analysis is based on both descriptive statistics and inferential statistics which are derived on correlation analysis and multiple regression analysis. The results indicate that FF3FM performs well in explaining cross-sectional variation in stock returns. All three factors of the model market risk premium, size premium, and value premium exhibit significant relations with excess portfolio returns. The study also finds that market risk premium is the most prominent factor of the model, while the other two factors share equal explanatory power. The results further confirm that FF3FM outperforms Capital Assets Pricing Model (CAPM) in explaining cross-sectional variation in stock returns. The study supports the prediction of Fama French (1992) that high BE/ME ratio portfolios outperform the portfolios with low BE/ME ratios. Considering these findings, it is recommended that, in addition to stock beta, size and value information should be made available to stock investors for conducting better assessment of uncertainties associated with investment returns.","PeriodicalId":198654,"journal":{"name":"International Journal of Accounting and Business Finance","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125129186","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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