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Management attitudes to corporate governance issues : evidence from Sri Lanka

Batten, Jonathan, Fetherston, Thomas A., Hettihewa, Samanthala and Mellor, Robert 2001, Management attitudes to corporate governance issues : evidence from Sri Lanka, in Issues in international corporate control and governance, JAI, Amsterdam, pp.273-288.

Document type: Book Chapter
Collection: School of Accounting, Economics and Finance
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Title Management attitudes to corporate governance issues : evidence from Sri Lanka
Author(s) Batten, Jonathan
Fetherston, Thomas A.
Hettihewa, Samanthala
Mellor, Robert
Title of book Issues in international corporate control and governance
Editor(s) Nail, Lance A.
Publication date 2001
Series Research in international business and finance ; v. 15
Chapter number 13
Total chapters 17
Start page 273
End page 288
Total pages 16
Publisher JAI
Place of Publication Amsterdam
Summary This study investigates the attitudes of senior managers in Sri Lankan firms to governance issues using a countrywide cross-sectional survey. Respondents from 64 public firms provide information on manager's attitudes to internal control procedures: (1) producing misleading financial reports, (2) providing faulty investment advice, (3) permitting insider-trading, and (4) providing inaccurate advertising. We establish if these attitudes vary with 5 firm-specific factors: industry group, international exposure of firms, size, whether the firm was listed or not, and whether the firm had a written code of ethics. Employing ordinal logistic regression techniques, the results demonstrate significant variation by respondents within different types of firms. Specifically there was little variation to these issues when respondents were classified by industry, with most variation when classified by international involvement. Respondents from firms with significant international exposures were strongly opposed to most practices, while respondents from firms with written codes of ethics were strongly opposed to the production of misleading reports and insider-trading. Interestingly respondents from listed firms were most opposed to insider-trading, while smaller firms were more opposed to misleading advertising than respondents from larger firms. The results have important implications for the implementation of corporate governance practice.
ISBN 0762307005
9780762307005
Edition 1st ed
Language eng
Field of Research 150201 Finance
HERDC Research category B1 Book chapter
Copyright notice ©2001, Elsevier Science B.V.
Persistent URL http://hdl.handle.net/10536/DRO/DU:30000466
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