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Corporate Governance In Sri Lanka: The Status Quo, Walter Gunathilake, Anura De Zoysa, Palli Mulla Chandrakumara

Anil Chandrakumara

This paper examines the existing corporate governance environment, practices, and institutional framework in Sri Lanka and evaluates their effectiveness to identify current issues and challenges. Sri Lanka is an emerging and rapidly growing market economy in South Asia with a liberalised economic and trade policies associated with FDI, international trade, and export-led development policies. Sri Lanka's corporate governance (CG) systems and practices have been largely influenced by both colonial economic policies and post-independence govt policies. Its CG practices consists of promoting dispersed ownerships, increasing size of a board and decreasing directorship per director, greater involvement of internationally recognized few audit …