SLIIT Business Review [SBR] Volume 01 Issue i 2021
Permanent URI for this collectionhttps://rda.sliit.lk/handle/123456789/1612
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Publication Open Access Financial Statements Effects of Adopting IFRS: Evidence from Listed Manufacturing Firms in Sri Lanka(SLIIT Business School, 2021-06) Muthunayake, H.; Kawshalya, P.Accounting Information would be beneficial only if it is relevant to the decisions being made. According to International Accounting Standards Board (IASB), the usefulness of accounting information depends on the fundamental qualitative characteristics of relevance and faithful representation. As a result of harmonization and standardization, International Financial Reporting Standards (IFRS) were adopted in Sri Lanka as a developing country from 1st January 2012. Given the differences that exist between developed and developing countries in the context of the accounting profession and other contextual differences, the impact of IFRS adoption in developing countries remains as an empirical gap in the accounting literature. Therefore, the main purpose of the current study is to examine the impact of IFRS adoption on the accounting information quality, in terms of value relevance and the effect on key financial measures of financial statements in Sri Lanka. Data for the current study are collected from audited annual financial statements and Colombo Stock Exchange (CSE) reports for all the listed manufacturing companies in Sri Lanka, for the period of 10 years from 2008/2009 to 2017/2018. Based on the regression estimates obtained, the study concludes that the value relevance of book values of equity is increased upon IFRS adoption. Further the findings reveal that there are favourable impacts of financial statement measures upon IFRS adoption in listed manufacturing firms in Sri Lanka. These results would be pertinent and significant to both Sri Lankan investors and to accounting standard setting bodies such as the IASB and CA Sri Lanka. Further, the study might also be of value to emerging nations with an investment environment similar to that of Sri Lanka and where IFRS reporting have recently been or will be adopted.Publication Open Access The Impact of Electronic Word of Mouth on Brand Image and Purchase Intention – A Study on Hospitality Industry in Sri Lanka(SLIIT Business School, 2021-06) Rathnaya, Y.; Jayasuriya, N.A.Interpersonal influences and word of mouth are considered as the most influencial factors in customer purchase decision making. With the development of technology, the electronic word of mouth has become a very popular and trusted communication mode among consumers. Due to the intangible nature of hospitality services and high risk involved with the purchase, most consumers in the hospitality industry look for other customers’ recommendations prior to making their purchase decision. Hence this study focuses on evaluating the value of electronic word of mouth in generating a purchase intention in customers’ mind in the hospitality sector in Sri Lanka. Data was collected using the survey method from 100 tourists who were visiting Sri Lanka based on the convenient sampling method. Data analysis was done using correlation and regression analysis. The results indicate a strong positive impact of electronic word of mouth and brand image on their purchase intention. However, the results also indicate that electronic word of mouth does not have an impact on building a brand image. This study fills a void in Sri Lankan research in the field of tourism.