Ownership Concentration and Financial Performance: The Case of Sri Lankan Listed Companies

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Pathirawasam, Chandrapala and Wickremasinghe, Guneratne B (2012) Ownership Concentration and Financial Performance: The Case of Sri Lankan Listed Companies. Corporate Ownership and Control, 9 (4). pp. 170-177. ISSN 1727-9232


The purpose of this paper is to examine the impact of ownership concentration and the other endogenous factors on the financial performance of companies listed on the Colombo Stock Exchange. Both pooled and ordinary least squares regressions are used to analyze the data. The return on assets (ROA) is used as the performance measure. One study finding is that the ownership concentration within these listed companies does not have a statistically significant positive relationship with the ROA. However, the study indicates that firm size, quick ratio and ratio of inventory investment to total assets have positive impacts on the ROA. But the debt ratio is negatively related to the financial performance of the listed companies.

Item type Article
URI https://vuir.vu.edu.au/id/eprint/22897
Official URL http://www.virtusinterpress.org/IMG/pdf/Chandrapal...
Subjects Historical > FOR Classification > 1502 Banking, Finance and Investment
Historical > SEO Classification > 9001 Financial Services
Historical > Faculty/School/Research Centre/Department > College of Business
Keywords ResPubID26294, financial performance, Colombo Stock Exchange, ownwership concentration, return on assets, return on assets, ROA, performance measure
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