Browsing by Author "Samarawickrama, A. J. P."

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Factors Affecting Customer’s Trust in Fintech Services: Evidence from Western Province Licensed Commercial Bank’s Customers in Sri Lanka
(Department of Finance, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2025) Nisansala, W. A. S.; Samarawickrama, A. J. P.
Introduction: The purpose of this research is to identify the factors that affect customer’s fintech services trust in Sri Lanka. Fintech services also mean a set of innovative services offered by financial institutions and supported by advances in information technology. Methodology: The researcher chose the Western Province as the area to conduct the study. In this regard, data was collected from users of fintech services in the Western Province using a survey questionnaire. Perceived risk, perceived reputation, service quality, and perceived regulatory support were used as independent variables in this study, with customer’s trust in fintech services as the dependent variable. Data were analyzed independently using SPSS software, which included statistical tests such as multicollinearity, reliability, normality, and regression analysis. For all the variables, descriptive statistics were used to determine the mean values of respondents' perspectives. Findings: According to the study's findings, perceived reputation and service quality independent variables had a statistically significant positive relationship with the dependent variable of customer’s trust in fintech services. Perceived risk and perceived regulatory support variables are not statistically significant. Independent variables are not correlated with each other, as per the results of the inter-correlation matrix, VIF, and tolerance values, and Cronbach alpha values demonstrate the data is more reliable. According to the regression results, perceived reputation is the most affecting factor in enhancing customer’s trust in the Western Province. Conclusion: The final result highlights that only two variables—perceived reputation and service quality—are statistically significant in developing customer trust in fintech services in Sri Lanka. The researcher suggests regulatory authorities should work toward increasing transparency and public awareness about standards related to compliance to build perceived regulatory support.
Factors Affecting the Adoption of Mobile Money Payment Systems by Small Business Owners in Colombo District, Sri Lanka
(Department of Finance, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2025) Kawshalya, J. M. H.; Samarawickrama, A. J. P.
Introduction: The adoption of mobile money payment systems has garnered global interest for its role in promoting financial inclusion and business efficiency. However, in Colombo district, Sri Lanka, small business owners demonstrate limited adoption of these systems. This study explores key factors influencing adoption, including perceived usefulness, ease of use, credibility, cost, awareness, promotions, and facilitating conditions. Methodology: This quantitative study used a structured survey of 387 small business owners in Colombo district, examining factors like perceived usefulness, ease of use, cost, awareness, and facilitating conditions on mobile money adoption. Data analysis involved SPSS with reliability, descriptive, correlation, and regression tests. Findings: The study highlights perceived usefulness and cost as key drivers of mobile money adoption, with awareness and facilitating conditions also influential. Perceived ease of use has a moderate effect, while demographic factors like education, income, and business type moderate these relationships. Conclusion: The findings emphasize the need for targeted initiatives to improve awareness, reduce perceived costs, and enhance the perceived usefulness of mobile money payment systems. Service providers and policymakers can use these insights to develop strategies that address the specific barriers faced by small business owners in Colombo, ultimately fostering greater financial inclusion and digital transformation.
Identifying the Relationship Between Dividend Policy and Stock Prices in the Banking Sector: Evidence from Colombo Stock Exchange
(Department of Finance, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2025) Hewawitharana, B. D.; Samarawickrama, A. J. P.
Introduction: The banking industry supports investment activity, minimizes credit availability, and facilitates the flow of funds, making it the foundation of economic growth. This study aims to empirically test to identifying the relationship between dividend policy and stock prices in the banking sector. Methodology: The study adopts a quantitative approach using a panel dataset spanning 2011–2023 from seven banking companies on the CSE. Secondary data was obtained from the published annual reports. These firms were selected for their consistent dividend declarations over 13 years. Panel data regression models have been utilized to analyze the data as the Hausman test suggest the fixed effect model is the most appropriate for describing the relationship among the variables. EViews 12 analytical software has been used to analyze the data. Findings: The analysis revealed significant relationships between dividend policy and stock prices. Dividend payout ratios exhibited the most pronounced influence on stock prices, while dividend yields showed mixed results. Conclusion: Dividend policy serves as a critical determinant of stock price behavior in the banking sector, highlighting its importance as a strategic tool for both investors and corporate decision-makers. The findings emphasize the need for well-formulated dividend policies to enhance shareholder value, improve market perceptions, and provide guidance in volatile market conditions.
Impact of Accounts Receivable Management on Profitability: Evidence from the Listed Consumer Discretionary Sector Companies in Sri Lanka
(Department of Finance, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2025) Shalini, A. S. C.; Samarawickrama, A. J. P.
Introduction: This research has aimed to investigate the impact of accounts receivable management on the profitability of the consumer discretionary sector firms in Sri Lanka. The focus is on key ratios such as inventory turnover ratio, average collection period, account receivables turnover ratio, cash conversion cycle, and their association with the profitability measures: including return on asset and return on equity. This research also finds that the firm size moderates these relations as well. Methodology: The paper uses a quantitative method and includes data from 23 white-listed consumer discretionary companies listed in the CSE, within the selected period from 2013 to 2023. In this study, multiple regression analyses are used to examine the effects of accounts receivable metrics on profitability with firm size being a control variable. To improve the validity of results, comprehensive diagnostics are conducted to evaluate conformity with normality, multicollinearity, heteroskedasticity, and autocorrelation tests. The inclusion of only white-listed firms helps to get a sufficient and statistically adequate number to analyze the characteristics of accounts receivable management in this sector. Findings: The findings point to the fact that lower collection periods, or shorter the cash conversion cycles, result in better accounts receivable management and lead to higher profitability as defined by ROA and ROE. It also reveals differences in the performance of receivable management practices across firms, suggesting the existence of distinct financial environments that should be addressed by the corresponding managerial solutions. Conclusion: The significance of accounts receivable management in enhancing the profitability of the consumer discretionary sector is further emphasised in this research finding. It does offer support for viable approaches to enhance sound credit management for enhanced cash flows and profitability. Financial managers and policymakers in the consumer discretionary sector should find these observations helpful in improving accounts receivable management and supervising financial activities. The study adds to the scarce literature in Sri Lanka regarding the understanding of financial management within the consumer discretionary industry and revealed the significance of accounts receivable management in maintaining the financial health of organizations in the country.
Impact of Cloud Enterprise Resource Planning System Adoption among Listed Manufacturing Companies in Sri Lanka
(Department of Finance, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2025) Pelakatige, E. P. L. S.; Samarawickrama, A. J. P.
Introduction: ERP cloud systems have become an intrinsic part of contemporary business operations to achieve efficiency, decision making, and competitiveness. This present research attempts to explore whether the adoption of cloud ERP results in enhanced performance among Sri Lankan listed manufacturing companies, mainly in ensuring processes are seamless and reducing any lag in operational processes. This research mainly aims to explore the significant factors that affect the successful adoption of cloud ERP systems and investigate their impact on the performance of listed manufacturing firms. It places special focus on top management support, organizational culture, IT knowledge, and business process reengineering as those factors that contribute much to ERP implementation outcomes. Methodology: This study follows a quantitative methodology, where primary data from 35 listed manufacturing companies in Sri Lanka are gathered through structured surveys distributed among key personnel. The response rate of 71% provides a robust grounding for the data. Statistical tools are used in descriptive statistics, correlation analysis, and regression modeling to test the relationship between ERP adoption and organizational performance. This study measures firm performance as the dependent variable while top management support, organizational culture, IT knowledge and business process reengineering are independent variables. Findings: It has been deduced that cloud ERP adoption greatly improves organizational efficiency, enhances the power of decision-making, and brings improvements in financial performance. Critical success factors for successful implementation are top management support and organizational culture, and to some extent, IT knowledge and business process reengineering have been positively related. Cloud ERP systems have tremendous potential for improving operational outcomes and thereby promote competitiveness among manufacturing organizations. Conclusion: The study finds evidence that the adoption of cloud ERP systems has a positive influence on the operational and financial performance of Sri Lanka's listed manufacturing companies. These results provide useful insights to the business leaders and policymakers with respect to the strategic planning of resource allocation for optimizing ERP implementation for long-term benefits.
Impact of Intellectual Capital on Profitability of Licensed Specialized Banks of Sri Lanka: Evidence from Sri Lanka
(Department of Finance, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2025) Jayasooriya, J. P. D. K.; Samarawickrama, A. J. P.
Introduction: This study contributes to investigate the impact of intellectual capital (IC) on the profitability of six licensed specialized banks in Sri Lanka. Methodology: Human Capital Efficiency, Structural Capital Efficiency, Capital Employed Efficiency and Relational Capital Efficiency are the independent variables used in this study and ROA, ROE are the dependent variables. For empirical problems, this research addresses balanced panel data with 6 Licensed Specialized Bank of Sri Lanka from 2013 to 2022, based on data availability for the study. STATA will be used for data analysis through regression while testing my hypothesis. Findings: This analysis shows a significant positive relationship between MVAIC and profitability. Among the MVAIC components, there is a significant positive impact between HCE and profitability (ROA, ROE). However, this study shows that there is no significant impact on profitability with SCE and RCE. However, although CEE shows a significant positive impact on ROA, it is not significant on ROE. Conclusion: The result highlights that the overall model is statistically significant. According to the findings, the need to establish targeted strategies to improve IC, promote innovation, and profitability in the banking environment is evident.
Phycological and demographical factors influencing cryptocurrency investment intention with special reference to the western province people in Sri Lanka
(Department of Finance, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2025) Jayawickrama, K. D. D. T.; Samarawickrama, A. J. P.
Introduction: This research investigates the psychological and demographical factors that influence cryptocurrency investment intentions among people in the Western Province of Sri Lanka. The study takes place against the backdrop of a rising trend towards cryptocurrencies amidst a population group that is actively using digital and financial resources. There is a significant knowledge gap regarding cryptocurrency investment in Sri Lanka. Examining what factors affect this gap and how those factors influence it is critical to promoting informed decision-making and responsible participation in the cryptocurrency market. Methodology: A quantitative research approach was employed, utilizing a structured questionnaire to gather data from 384 respondents in the Western Province. The study examined psychological determinants alongside demographic variables including age, gender, education, and income. Data analysis was conducted using SPSS software to evaluate the relationships between these variables and investment intentions. Findings: The analysis revealed that psychological factors significantly influence cryptocurrency investment intentions, with perceived trust emerging as the most influential variable. Demographic analysis showed that income and education levels positively correlate with investment intentions, while age demonstrates a negative correlation. Gender was found to have a significant but complex relationship with cryptocurrency adoption patterns. Conclusion: The study provides valuable insights into cryptocurrency adoption dynamics in Sri Lanka's developing market context. These findings have practical implications for policymakers, financial institutions, and cryptocurrency platforms in developing strategies for promoting responsible investment practices and market development, helping people to invest wisely and supporting the growth of the market.
The Effect of Debt Financing on Corporate Profitability: Special Reference to Retailing Sector Listed in Colombo Stock Exchange
(Department of Finance, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2025) Jayarathna, I. D. I.; Samarawickrama, A. J. P.
Introduction: Debt financing plays a crucial role in ensuring continuity of operations and achieving maximum profitability in firms. This study probes into how debt financing affects the profitability of retailing firms listed in the CSE, with emphasis on the management of STD, LTD, and TD to attain an optimal capital structure. The study also considers the control variables of firm size and firm growth in assessing the profitability as represented by ROA. Methodology: A descriptive research design underpinned by a positivist philosophy was employed. Secondary panel data were collected from financial reports of 12 retailing firms listed on the CSE during 2019–2024. The data were analyzed using EViews 12, employing descriptive statistics, correlation analysis, regression analysis, and hypothesis testing. The relationships between STD, LTD, TD, and ROA were examined to understand the debt management strategies affecting profitability in the retail sector. Findings: The results yielded a negative and significant coefficient of STD on ROA, thus explaining that short-term reliance by firms diminishes profitability. LTD, on its part, demonstrated a positive and significant relation to ROA; hence, the support of trade-off theory presents its merits in the form of tax shields. TD expressed an insignificant influence on profitability; hence, debt mix turns out to be more crucial as compared to total debt amount. Conclusion: The study concludes that effective debt management is vital for enhancing profitability in the retail sector. Long-term debt should be used strategically to leverage tax benefits and stability, while excessive dependence on short-term debt should be avoided to prevent financial stress. The findings are consistent with the trade-off theory and provide actionable insights for retail firms on optimizing their capital structure. Future research can explore additional variables and their impact on profitability in evolving market conditions.
The Impact of Transparency and Disclosure and Financial Distress on the Financial Performance: Evidence from Licensed Commercial Banks in Sri Lanka
(Department of Finance, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2025) Nanayakkara, K. A. D. C. M.; Samarawickrama, A. J. P.
Introduction: Transparency and disclosure and financial distress are the critical factors affecting the financial performance of bank institutions. This research presents the relationship between these factors and the financial performance of commercial banks operating within the Sri Lankan market. The primary aim of this research is identifying the impact of transparency and disclosure and financial distress on the financial performance in licensed commercial banks in Sri Lanka. Methodology: The sample of the research consists with eighteen licensed commercial banks in Sri Lanka for a period of 2014 to 2023. Transparency and disclosure and financial distress were considered as the independent variables of the regression models. The firm performance of the licensed commercial banks was considered as the dependent variable which was measured based on return on assets and return on equity. Descriptive analysis, correlation analysis and panel data regression were engaged to analyze the data in this study. Findings: The findings revealed that transparency and disclosure has a negative and insignificant impact on firm performance measured by return on asset and financial distress has a positive and insignificant impact on return on asset. Also, the analysis revealed that transparency and disclosure has negative and insignificant impact on return on equity and financial distress has a negative and significant impact on return on equity. Conclusion: The study concluded that in Sri Lankan context, transparency and disclosure have a negative impact on return on asset, and financial distress has a negative impact on return on asset. However, these variables have no significant impact on ROA. And the transparency and disclosure and financial distress have a negative impact on return on equity. Financial distress is significant, and transparency and disclosure have an insignificant impact on ROE.