Citation:Wickramasingha, S.R.M. and Nanayakkara, K.G.M. (2015). The External Auditor’s Opinions and the Stakeholders’ Purposes: An Empirical Analysis in Sri Lanka, Kelaniya Journal of Management, University of Kelaniya, 04(01): 31-49.
Date:2015
Abstract:
This paper specially investigate the Sri Lankan audit opinions and its’ effect to the
investors’ decision making. It has been conducted the market-based model with a sample
of thirty one (31) listed manufacturing companies on the Colombo Stock Exchange; the
dependent variable “Stock Return” serve as proxy for Investors’ Decisions and
independent variables are “Audit Opinions” published in Sri Lanka. The study use Anova
test for the study. This research study’s final consequence is robust the notion of the audit
opinions are not informative value to the investors’ decisions.
