Browsing by Author "Siriwardhane, D."

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Determinants of Stock Price Volatility: A Literature Review
(Department of Finance, University of Kelaniya., 2022) Hewamana, R.; Siriwardhane, D.; Rathnayake, A.
Purpose: This paper reviews the theoretical background and the empirical results of the stock price volatility determinants under three categories: macroeconomic, company-specific fundamentals, and behavioral factors. Methodology: Previous empirical and theoretical articles on volatility determinants were compared to identify the similarities and differences of the findings. The systematic literature review followed to review the articles published in English between 1930 and 2021. Design: A critical literature review was performed by comparing the findings of previous studies based on the development status of the market. We discuss determinants of stock price volatility. Determinants include behavioral (non-fundamental) factors and macro-economic factors such as GDP, Inflation, Interest Rate, Money Supply, and Exchange Rate. In addition to Earnings and Dividend Payments have been considered under company-specific fundamentals. Findings: It was found that there is no agreement between the studies on the macro-level and micro-level determinants of stock volatility. This empirical inconsistency is substantial in GDP, Inflation, Money Supply, Exchange Rate, Earnings, and Dividend Payments. The interest rate is the only determinant that shows moderate inconclusive empirical results. However, behavioral determinants appear to be significance consistency in determining the stock price volatility. Originality: This article reviews the theoretical and empirical background of stock volatility determinants since there is no single article for reviewing theoretical and empirical results. In a single paper, we provide evidence relating to the impact of macroeconomic, company-specific, and behavioral factors on stock price volatility. Research Directions – Future research is needed to examine the reason for empirical inconsistency in volatility determinants. A systematic literature review is essential.
Happiness at Work: Case of Apparel Industry in Sri Lanka
(Department of Human Resource Management, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2022) Silva, O.; Siriwardhane, D.; Hettiarachchi, A.
The objectives of the study were to; examine the differences in happiness at work among white-collar and blue-collar workers in the apparel industry and to explore the main contributing organizational level factors to happiness at work. Following the case study method, a sample of blue and white-collar employees, selected from a large organization in the apparel industry were used to collect data. A structured questionnaire was used to collect data related to happiness and its determinants. Both ANOVA and ANCOVA models together with qualitative analysis were used to analyze data. It was found that blue-collar workers are happier at work than white-collar workers. Furthermore, it was discovered that job inspiration and work-life quality are the most significant contributors to the happiness of blue-collar employees; job inspiration, leadership, and work quality contribute to the happiness of white-collar employees.