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OWNERSHIP CONCENTRATION AND FINANCIAL PERFORMANCE: THE CASE OF SRI LANKAN LISTED COMPANIES
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Pathirawasam Chandrapala , Guneratne Wickremasinghe 
Abstract
The purpose of this paper is to examine the impact of ownership concentration and the other endogenous factors on the financial performance of companies listed on the Colombo Stock Exchange. Both pooled and ordinary least squares regressions are used to analyze the data. The return on assets (ROA) is used as the performance measure. One study finding is that the ownership concentration within these listed companies does not have a statistically significant positive relationship with the ROA. However, the study indicates that firm size, quick ratio and ratio of inventory investment to total assets have positive impacts on the ROA. But the debt ratio is negatively related to the financial performance of the listed companies.
Keywords: Financial Performance, Colombo Stock Exchange, Ownership Concentration, Return on Assets
How to cite this paper: Chandrapala, P., & Wickremasinghe, G. (2012). Ownership concentration and financial performance: the case of Sri Lankan listed companies. Corporate Ownership & Control, 9(4-1), 170-177. https://doi.org/10.22495/cocv9i4c1art3
