FINANCIAL AND OPERATING PERFORMANCE OF PRIVATIZED FIRMS IN SRI LANKA (REGISTERED FIRMS IN COLOMBO STOCK EXCHANGE)

Authors

  • C.T. Gamage Senior Lecturer, Dept. of Accountancy & Finance Rajarata University of Sri Lanka

Abstract

In 1987, the Sri Lankan government accepted privatization as a state policy and transferred United Motors Company to the private sector in 1989. At that moment there were 256 public enterprises. The focus of this study is to mainly find out the post privatization impact on the financial and operating performances of privatized firms. The study was based on 16 privatized companies from four sectors based on the Colombo Stock Exchange classification under the period of 1989 - 2000.To achieve the objectives, descriptive statistical test, single tailed statistical tests and ratio analysis were applied and the three to six years time scale was used. In conclusion, the findings of this study confirmed that following the privatization process, all business enterprises were able to improve their financial and operating performances.

Keywords: privatization, financial, performance, public enterprises, private sector

For full paper: fmscresearch@sjp.ac.lk

Author Biography

C.T. Gamage, Senior Lecturer, Dept. of Accountancy & Finance Rajarata University of Sri Lanka

Senior Lecturer, Dept. of Accountancy & Finance

Rajarata University of Sri Lanka

Published

2012-12-24

Issue

Vol. 6 (2009): Proceedings of the Sixth International Conference on Business Manageme

Section

Articles