Effect Of Capital Structure On Profitability Of Listed Manufacturing Companies In Sri Lanka
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Effect Of Capital Structure On Profitability Of Listed Manufacturing Companies In Sri Lanka
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Author : Saratha Anandasayanan
language : en
Publisher:
Release Date : 2016
Effect Of Capital Structure On Profitability Of Listed Manufacturing Companies In Sri Lanka written by Saratha Anandasayanan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Capital structure is one of the most complex areas of financial decision making due to its interrelationship with other financial decisions variables. Capital structure is the composition of debt and equity capital that comprise a firm's financing its assets and can be rewritten as the sum of net worth plus preferred stock plus long-term debts The problem statement to be analyzed in this study is: Does capital structure affect the listed manufacturing companies in Sri Lanka? The study sample consists of 12 Manufacturing companies listed in Colombo stock Exchange . Net profit ratio is used to measure the profitability. Debt equity ratio, Long term loans to total asset and short term loan to total assets ratios are used to measure the capital structure of the companies. Applying correlations and fixed effect regression analysis, the results reveal significantly negative relation between debt and profitability. This suggests that profitable firms depend more on equity as their main financing option .Yet recommendations based on findings are offered to improve certain factors like the firm must consider using an optimal capital structure.
Impact Of Impairment Loss On Profitability And Capital Structure Of Listed Manufacturing Companies In Sri Lanka
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Author : Logeswary Sooriyakumaran
language : en
Publisher:
Release Date : 2014
Impact Of Impairment Loss On Profitability And Capital Structure Of Listed Manufacturing Companies In Sri Lanka written by Logeswary Sooriyakumaran and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
This paper investigates the effects of impairment of assets on profitability and capital structure of listed manufacturing companies in CSE in Sri Lanka. The study data have been collected from the financial statements during a five years periods of 2008-2012. The study attempt to find the answer to the question that does impairment of assets affect the profitability and capital structure of the companies? The study sample consists of 37 companies. Impairment loss is independent variable and profitability and capital structure are dependent variables. The descriptive statistics were used and then Pearson's correlation coefficient was used to identify the relationship between the variables. The regression analysis was used to identify the impact of impairment loss on profitability and capital structure. The study found that impairment of assets was found to have a negative impact on profitability and capital structure. The findings also confirmed that changes by impairment have significant impact on profitability and capital structure in case of listed manufacturing companies in CSE.
Determinants Of Capital Structure
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Author : Rathiranee Yogendrarajah
language : en
Publisher:
Release Date : 2014
Determinants Of Capital Structure written by Rathiranee Yogendrarajah and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
This study examines the determinants of capital structure decisions of firms, specifically for manufacturing companies. The survey data were gathered from listed companies from stock exchange in Sri Lanka. The capital structure is the composition of debt and equity capital that comprises a firm's financing its assets. In this study an attempt has been made to examine what factors determine the capital structure of the listed manufacturing companies in Sri Lanka. For this purpose 5 years data from 2005 to 2009 have been gathered from the Colombo Stock Exchange (CSE). The capital structure was represented by the leverage and the profitability, tangibility and the asset turnover have been selected as the determinant factors of Capital Structure. The data were analyzed using descriptive and inferential statistics. Finding of this study revealed that there is low relationship between the factors of leverage and profitability. Based on this study, tangibility and asset turnover has negative relationship related with leverage. And it showed the impact of profitability, tangibility and asset turnover on leverage was only 10%, 2% and 1% respectively and profitability has the most impact on Leverage than other factors of tangibility and asset turnover. The factors other than profitability, tangibility and asset turnover mostly influence on capital structure.
The Determinants Of Capital Structure
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Author : Tharmalingam Pratheepan
language : en
Publisher:
Release Date : 2016
The Determinants Of Capital Structure written by Tharmalingam Pratheepan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
This research examines the determinants of capital structure of selected listed companies in Sri Lanka. The capital structure of 55 companies listed in Colombo Stock Exchange (CSE) is empirically examined using the fixed effects model. Based on the findings of the panel data analysis during the period of 2003-2012, Profitability exhibits statistically significant of inverse relationship with leverage while firm size and growth shows statistically significant of positive relationship with leverage for selected listed companies in Sri Lanka. Non-debt tax shields and tangibility indicate insignificant impacts on leverage. The results of this empirical study shows that there is robust evidence to support the pecking order theory by manufacturing based companies on the capital structure determinant of profitability variable, and growth variable also strongly supports to the association of the pecking order theory. Though, trade-off theory also cannot be rejected because of the correct estimate of the positive sign of size variable of manufacturing based companies. Thus, implication of pecking order theory is more appropriate in Sri Lankan perspective.
Analysis Of Impairment Of Assets And Its Impact On Capital Structure Of The Listed Manufacturing Companies In Sri Lanka
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Author : Logeswary Sooriyakumaran
language : en
Publisher:
Release Date : 2014
Analysis Of Impairment Of Assets And Its Impact On Capital Structure Of The Listed Manufacturing Companies In Sri Lanka written by Logeswary Sooriyakumaran and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
The asset impairment accounting system has been introduced throughout the world since the mid-1990s due global financial crises (GFC). However, until Sri Lankan Accounting Standard (SLAS) 42 (Lankan Accounting Standard (LKAS) 36 - 01/01/2012) was issued in 1998 there were so far no rules as to how this should be done in Sri Lanka. The application of the LKAS 36 made the impact on net income then stock holders' equity at the same time long term assets. To measure that impact financial leverage ratios were used. The study data has been collected for the period of five years from 2007/2008 to 2011/2012 of listed manufacturing companies in CSE. The impairment amount and its impact on capital areas its independent variables. The long term debt to assets and long term debt to equity are the dependent variable. The descriptive statistics were calculated for our entire variables and then Pearson's correlation coefficient was calculated to identify the preliminary relationship among all the variables. The regression analysis was used to examine the significance fixed and random effects models. From the findings impairment loss amount has no significant impact on financial leverage ratio while the amount impact on financial leverage has significant impact on debt ratio.
Financial Policies Of Business Enterprise
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Author : William Bayard Taylor
language : en
Publisher:
Release Date : 1942
Financial Policies Of Business Enterprise written by William Bayard Taylor and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1942 with Stock companies categories.
"Collateral readings" at end of most of the chapters.
Introduction To Linear Regression Analysis
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Author : Douglas C. Montgomery
language : en
Publisher: John Wiley & Sons
Release Date : 2015-06-29
Introduction To Linear Regression Analysis written by Douglas C. Montgomery and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-29 with Mathematics categories.
Praise for the Fourth Edition "As with previous editions, the authors have produced a leading textbook on regression." —Journal of the American Statistical Association A comprehensive and up-to-date introduction to the fundamentals of regression analysis Introduction to Linear Regression Analysis, Fifth Edition continues to present both the conventional and less common uses of linear regression in today’s cutting-edge scientific research. The authors blend both theory and application to equip readers with an understanding of the basic principles needed to apply regression model-building techniques in various fields of study, including engineering, management, and the health sciences. Following a general introduction to regression modeling, including typical applications, a host of technical tools are outlined such as basic inference procedures, introductory aspects of model adequacy checking, and polynomial regression models and their variations. The book then discusses how transformations and weighted least squares can be used to resolve problems of model inadequacy and also how to deal with influential observations. The Fifth Edition features numerous newly added topics, including: A chapter on regression analysis of time series data that presents the Durbin-Watson test and other techniques for detecting autocorrelation as well as parameter estimation in time series regression models Regression models with random effects in addition to a discussion on subsampling and the importance of the mixed model Tests on individual regression coefficients and subsets of coefficients Examples of current uses of simple linear regression models and the use of multiple regression models for understanding patient satisfaction data. In addition to Minitab, SAS, and S-PLUS, the authors have incorporated JMP and the freely available R software to illustrate the discussed techniques and procedures in this new edition. Numerous exercises have been added throughout, allowing readers to test their understanding of the material. Introduction to Linear Regression Analysis, Fifth Edition is an excellent book for statistics and engineering courses on regression at the upper-undergraduate and graduate levels. The book also serves as a valuable, robust resource for professionals in the fields of engineering, life and biological sciences, and the social sciences.
The Determinants Of Leverage Of The Listed Companies In Sri Lanka
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Author : Sarathadevi Anandasayanan
language : en
Publisher:
Release Date : 2019
The Determinants Of Leverage Of The Listed Companies In Sri Lanka written by Sarathadevi Anandasayanan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
The role of financial leverage in magnifying the return of the shareholder is based on the assumptions that the fixed charges fund. A company increases its leverage because it can invest in business operations without increasing its equity. Leverage is not always bad, however it can increase the shareholder's return on their investment and often there are tax advantages associated with borrowing. The purpose of present study is to investigate the determinants of leverage (or capital structure) decision of Sri Lankan firms based on a panel data set over a period of five years from 2007-2011 comprising of 60 companies..This study examines the impact of five firm specific factors - firm size, firm growth rate, profitability, and asset tangibility, on the leverage decision of listed companies in Sri Lanka. The results show that financial leverage of Sri Lankan firms is influenced by firm size , firm growth rate and profitability .This study contributes to the literature on the factors that influence financial leverage of the firm.
Capital Structure Decisions
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Author : Yamini Agarwal
language : en
Publisher: John Wiley & Sons
Release Date : 2013-03-29
Capital Structure Decisions written by Yamini Agarwal and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-29 with Business & Economics categories.
Inside the risk management and corporate governance issues behind capital structure decisions Practical ways of determining capital structures have always been mysterious and riddled with risks and uncertainties. Dynamic paradigm shifts and the multi-dimensional operations of firms further complicate the situation. Financial leaders are under constant pressure to outdo their competitors, but how to do so is not always clear. Capital Structure Decisions offers an introduction to corporate finance, and provides valuable insights into the decision-making processes that face the CEOs and CFOs of organizations in dynamic multi-objective environments. Exploring the various models and techniques used to understand the capital structure of an organization, as well as the products and means available for financing these structures, the book covers how to develop a goal programming model to enable organization leaders to make better capital structure decisions. Incorporating international case studies to explain various financial models and to illustrate ways that capital structure choices determine their success, Capital Structure Decisions looks at existing models and the development of a new goal-programming model for capital structures that is capable of handling multiple objectives, with an emphasis throughout on mitigating risk. Helps financial leaders understand corporate finance and the decision-making processes involved in understanding and developing capital structure Includes case studies from around the world that explain key financial models Emphasizes ways to minimize risk when it comes to working with capital structures There are a number of criteria that financial leaders need to consider before making any major capital investment decision. Capital Structure Decisions analyzes the various risk management and corporate governance issues to be considered by any diligent CEO/CFO before approving a project.
Determinants Of Capital Structure In Sri Lanka
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Author : Ratnam Vijayakumaran
language : en
Publisher:
Release Date : 2018
Determinants Of Capital Structure In Sri Lanka written by Ratnam Vijayakumaran and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
This study investigates the use and the determinants of long-term leverage using the sample of 50 companies listed in Colombo Stock exchange (CSE). The panel cross sectional regression analysis was performed for 226 firm year observations over the period from 2004 to 2008. The study reveals that at an aggregate level, leverage of Sri Lankan firms is comparatively low. The size of the firms is positively significantly related to leverage while profitability is negatively significantly associated with leverage suggesting that more profitable firms tend to use less leverage. This study documents that the size and profitability have robust effects on long-term leverage in Sri Lanka.
