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 can not 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.
This paper aims to evaluate the faculty research performance on the basis of publication output, citations and h-index of professors working in Sri Lankan universities. Six hundred fifty professors from different universities of Sri Lanka served as respondents. Using scientometrics, publications of professors spanning 1980-2014 are analyzed. It found that based on the mean h-index used in this study, faculty of science is the best performer with the mean h-index of 5.55, followed by medicine (5.24), engineering (3.81), agriculture (3.76), management (2.74) and arts (2.62). This study further revealed that, the faculty of agriculture has the highest percentage (97.37 %.) of professors with published output; they have at least one research paper. Study also measured the universities' position in the each disciplines on the basis of the mean h-index. The results showed that out of six faculties, which are grouped in this study, University of Peradeniya (PDN) is found to be the most predominant in agriculture, arts, science and engineering). In medicine, University of Kelaniya is the best on the basis of the mean h-index with 6.85. In the case of the faculty of management, University of Jaffna had the highest mean h-index of 7.75. On the other hand result indicates that the performance of arts among almost all of the universities except University of Colombo and PDN were very poor and similar. It is recommended that research output on arts, social sciences and management across the university faculty must be strengthened and mechanism should be introduced by the authorities.
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