All firms disclosed little about equity issues. The interviews revealed that many firms (Bank Ltd., Finance Ltd.,
Trading Ltd., and Engineering Ltd.) had a policy to recruit employees based on merit. However, firms acknowledged
their fears of erroneously recruiting terrorists (from a particular ethnic group) into their firms. It should be noted
that these interviews were carried out during the civil war period in Sri Lanka. This anomalous employment strategy
was acceptable to the majority of political and social constituents, because of the growing concern about terrorist
attacks, loss of innocent human life and the negative impact of terrorism on the economy. Therefore, disclosure about
employment opportunities provided to particular ethnic groups would offer little opportunity for firms to gain support
of their constituents for capital accumulation.