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Enterprise risk management (ERM) has gained an increased attention during the recent past as an integrated approach to manage risk for creating and preserving firm value. The objective of this study is to explore and empirically verify as to whether the adoption of the ERM has an impact on the firm performance. This study uses both primary and secondary data pertaining to 129 companies listed on the Colombo Stock Exchange under the banking & finance, insurance, diversified, manufacturing, food and beverage and chemical and pharmaceutical sectors. Primary and secondary data are collected by distributing a survey questionnaire and analyzing the published financial statements of the observing companies. Researcher adopts ERM integrated framework suggested by the committee of sponsoring organization (COSO) of the Treadway Commission of the USA to assess the value relevance of ERM and uses return on equity (ROE) as a proxy to measure the firm performance. This study finds, except for control activities, none of the key ERM functions, suggested by the COSO’s ERM integrated framework, has a significant impact on the performance of listed companies. Internal environment, objective setting, and information & communication indicated a weak positive impact on the firm performance. Nevertheless, none of those impacts were statistically significant. Empirical evidence reveals that firms’ risk responding strategies have no impact on the performance. Surprisingly, monitoring of ERM functions has weak negative, but not significant, impact on the firm performance. These findings are contradictory with the theoretical expectation that the adoption of ERM practices has a positive impact on firm performance as confirmed by the prior researchers.

<p>This study grants empirical support to the fact that profitability of the Pakistani banking sector was reduced during 2008-2009 and among other factors this reduction was attributed to the global financial crisis and resulting increased investments portfolio in total assets. We have used panel data of all Pakistani scheduled banks during 2005-2012. We proved theoretically and empirically that fixed effects model is appropriate for this study. <em>Second </em>stage analysis confirms the above results and shows that the profitability of Pakistani banking sector was higher in pre and post crisis years than, in financial crisis period. Profitability was relatively lower in the after crisis years then in before crisis years because of the residual effects of the global financial crisis. In <em>third stage</em> analysis we found that private and foreign banks were more affected by financial crisis than public sector, specialized and Islamic banks. Our results are robust to alternate measures of profitability. In context of developing countries this study will help bank managers and the regulators to stay better prepared to face any financial crisis in future.  </p>

With the technological advancements in the past few years in the mobile telecommunication industry, customer requirements and their behavioral patterns changed a lot. Implications of two of most popular such technological approaches which are independent from the service provider were discussed in this paper.  Usually, firms have identified the value of maintaining a higher level of switching barriers since it is one kind of successful strategic aspects in mobile telecommunication. But, the importance of these strategies was challenged with the adoptions of new technologies. Therefore, to study its’ implication, data set was obtained by conducting a survey from randomly select mobile subscribers in Sri Lanka. Descriptive statistics, correlation analysis, t-test and factorial ANOVA test were used for the data analysis purpose. According to the analysis, it is revealed that these two technological advancements are weakened the level of switching barriers significantly. It may allow subscribers to switch service providers easily. On the other hand, subscribers with higher relationship age are having the highest switching barrier level even though they are users of those new technologies. But a significant difference among users and non-users has been identified through the study. Thus, policy makers are required to come up with new strategies to retain those subscribers within the network.