The External Auditor’s opinions and the stakeholders’ purposes: an empirical analysis in Sri Lanka
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.
The Kelaniya Journal of Management, Vol. 4(1); 2015: 31-49
© 2015 S.R.M. Wickramasingha, K.G.M. Nanayakkara, published by Faculty of Commerce and Management Studies University of Kelaniya
This work is licensed under the Creative Commons License.