Corporate governance (CG) has become a dominant theme in developed and developing countries. This study aims to investigate the impact of CG on firm performance of listed companies in Sri Lanka. Fifty listed companies were selected as a sample by using proportion random sampling method. Apart from that secondary data were collected from the annual report of listed companies in Sri Lanka from 2010 to 2015. This study considers the CG which is measured by board size, board independence, CEO duality, director's ownership and audit committee as the independent variable while firm performance which is measured by ROA and Tobin's Q as a dependent variable. Multiple regressions and Pearson's correlation analyses were employed as the main tool of analyzing data. The results reveal that the board size and audit committee have significant impact on ROA and board size has significant impact on Tobin's Q, whereas board independence, CEO duality and director's ownership have insignificant impact on both firm performance measures such as ROA and Tobin's Q. Furthermore the board size and audit committee have negative relationship with firm performance. This study suggests that small boards are associated with higher firm performance, possibly through closely monitored managements.Contribution/ Originality: This study investigates the impact of corporate governance on firm performance of listed companies which are included in all business sectors in Colombo Stock Exchange.

The relevant literature suggests that ownership structure is one of the main corporate governance mechanisms influencing the scope of financial performance. The aim of this study is to investigate the relationship between ownership structure and financial performance of listed beverage food and tobacco companies for the period of 2010-2015. This study also examines the impact of ownership structure on financial performance. The sample consists of 10 listed beverage food and tobacco companies in Sri Lanka. In this study, data was collected from secondary sources and hypotheses are examined by using Pearson"s correlation and regression analysis. The results reveal that ownership concentration and foreign ownership structure are positively correlated with financial performance of listed beverage food and tobacco companies while institutional ownership structure isn"t significantly correlated with financial performance. It is also found that there is a significant impact of foreign ownership structure on financial performance. Higher the foreign ownership structure in listed beverage food and tobacco companies, the higher the financial performance which is preferable for the shareholders and it improves the wealth of companies.

The stock market is one of the most energetic sectors that play an important role in contributing to the wealth of the economy. It plays a crucial role in the economic growth and development of an economy which would benefit industries, trade and commerce as a whole.

The audit committee (AC) is the potential mechanism that reduces the agency problems in organizations and investigating this mechanism separate from alternate corporate governance mechanisms may have led to different results in the literature. The aim of this study is to examine the impact of audit committee on value relevance of accounting information of listed hotels and travels in Sri Lanka. Value relevance of accounting information is measured by earning per share (EPS) and book value per share (BVPS) while Audit committee consists of AC size, AC independence, AC experts and AC meetings. The sample consists of 15 hotels and travels listed in Colombo Stock Exchange. In this study, data was collected from secondary sources and hypotheses are examined by using Pearson's correlation and regression analysis. The results reveal that audit committee attributes such as AC size, AC experts and AC meetings have a significant impact on book value per share of listed hotels and travels in Sri Lanka. Further only AC experts influence earnings per share. AC independence is not found to have a significant impact on the value relevance of accounting information. The findings could be useful to regulators in other jurisdiction who are looking at ways to enhance the effectiveness of audit committee, overall firm governance.

Record keeping plays a vital role in development by providing recorded information which is crucial in the strategic formulation of national development policies and plans. The purpose of the study is to examine the influence of record keeping practices on the business performance of small and medium scale enterprises in Sri Lanka. Record keeping practices consists of proper accounting records, preparation of accounting records and accounting records procedures whereas business performance is measured by organizational goal achievement, organizational effectiveness and organizational efficiency records. A structured questionnaire was used to collect the primary data from 75 SMEs which were selected by means of the random sampling technique. The results reveal that record keeping practices have significant positive influence on business performance of Small and medium enterprises in Sri Lanka. It can be recommended that academic institutions and other bodies which are responsible for SMEs should organize training programmes for those operators who do not have the technical knowhow in the field of accounting to come to grips with it and also provide some SME-specific accounting guidelines and template forms for capturing accounting practices for the operators to use.