The Higher National Diploma in Accountancy (HNDA) is a four years programme. The HNDA programme is the first professional accounting course introduced in Sri Lanka. The HNDA was considered as an alternative to a B.Com degree offered by a Sri Lankan university by the Public Administration Circular No.46/90 of 1990. HNDA programme is conducted by the Sri Lanka Institute of Advanced Technological Education (SLIATE) at the Advanced Technological Institute (ATIs). Financial Management is a three-credit subject in the HNDA syllabus and is taught in the first semester ...

This study intends to identify the better model in explaining variations of average stock returns of listed companies in the CSE when time series and cross sectional regressions are employed. The sample consists of all stocks listed in the main board of the CSE except Bank, Finance and Insurance Sector during the period from 1997 to 2014. The methodology used to form factor mimicking portfolios to estimate risk factors and portfolio returns is similar to the methodology of Fama and French 1993 and 2012 and to test the performance of asset pricing models Fama ...