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Pratheepkanth Puwanenthiren
University of Jaffna
Economics, Econometrics & Finance

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Sri Lankan intellectual capital disclosure: An empirical analysis Pratheepkanth Puwanenthiren; Alagathurai Aj anthan; Lingesiya Kengatharan
Indonesian Management and Accounting Research Vol. 18 No. 1 (2019): Indonesian Management and Accounting Research
Publisher : Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (350.111 KB) | DOI: 10.25105/imar.v18i1.5386

Abstract

This study examines voluntary IC disclosure provided by Sri Lankan firms in annual reports from the year 2016/17. A 100-firms sample, from the Colombo stock exchange (CSE)-listed firms. Findings suggest that Sri Lankan firms, on average, are aware of the significance of IC disclosure. Concerning the descriptive analysis, the results indicate that most of the information reported (41 percent) is related to human capital; 31 percent is related to relational capital and the 21 percent concerns structural capital disclosure.  The results also suggest that industry nature and firm size play a key role as a determinant for the disclosure of IC in Sri Lankan annual reports. As the no definite IC disclosure framework has been established within Sri Lankan firms. Concurrently as Sri Lanka passes through its post-war-recovery phase, reform of its mutually agreed financial reporting framework is essential to reduces information asymmetry and therefore reducing the agency costs.
Corporate governance, ownership structure and agency costs: evidence from Sri Lanka Pratheepkanth Puwanenthiren; Balaputhiran Sathasivam; Velnampy Thirunavukarasu
Indonesian Management and Accounting Research Vol. 19 No. 2 (2020): Indonesian Management and Accounting Research
Publisher : Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (326.383 KB) | DOI: 10.25105/imar.v19i2.7265

Abstract

The purpose of this paper is to examine the link between corporate governance, ownership structure and agency cost in Sri Lanka. The present study uses the regression model to analyse data for a sample of 150 firms listed in the Colombo Stock Exchange (CSE) for the financial years 2014 to 2018.  The empirical results show statistically significant and positive associations between board size, CEO duality, managerial ownership and agency cost proxies (i.e., asset turnover and expense ratio). The results also show a positive and significant relationship between the independent directors and asset turnover (though statistically insignificant with expense ratio), suggesting that, entrenched independent directors employ lower conflict of interest  in order to reduce the agency cost. Nonetheless, ownership concentration, was statistically insignificantly associated with agency costs, this paper provides support for such a view in Sri Lankan context. This study contributes to the literature on the on the association between corporate governance, ownership structure and agency costs. The findings may be useful for financial managers, investors, financial management consultants, and other stakeholders.
Co-Authors Alagathurai Aj anthan Balaputhiran Sathasivam Lingesiya Kengatharan Velnampy Thirunavukarasu