The Capital Structure of Sri Lankan Companies

Samarakoon, Lalith

Abstract

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The Capital Structure of Sri Lankan Companies

Lalith P. Samarakoon

University of St. Thomas

June 1999

Sri Lankan Journal of Management, Vol. 4, Nos. 1&2, pp. 18-30, 1999

Abstract:
This study examines the use and the determinants of leverage in a cross-section of quoted companies in Sri Lanka using a sample of firms listed in the Colombo Stock Exchange. The results indicate that the use of long-term debt is relatively low. The tangibility and growth opportunities are not related to leverage. Firm size is reliably positively related to leverage indicating a tendency for large firms to use more leverage. Profitability is reliably negatively correlated to leverage suggesting that more profitable firms tend to use less leverage.

Number of Pages in PDF File: 13

Keywords: Capital Structure, Leverage, Sri Lanka, Colombo Stock Exchange

JEL Classification: G15, G32

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Date posted: April 28, 2009

Suggested Citation

Samarakoon, Lalith P., The Capital Structure of Sri Lankan Companies (June 1999). Sri Lankan Journal of Management, Vol. 4, Nos. 1&2, pp. 18-30, 1999. Available at SSRN: http://ssrn.com/abstract=1394886

Contact Information

Lalith P. Samarakoon (Contact Author)

University of St. Thomas ( email )

2115 Summit Ave
St. Paul, MN 55105
United States

HOME PAGE: http://www.stthomas.edu/business/faculty/directory/Samarakoon_Lalith.html