ICBI 2021

Permanent URI for this collectionhttp://repository.kln.ac.lk/handle/123456789/24117

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An Analysis of the Determinants of Sri Lanka's Trade Balance with Major Trading Partners
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Malith, P.G.D.; Perera, M.S.S.; Perera, G.A.N.
Sri Lanka has had a trade deficit for over two decades, and it is critical to determine which factors contribute significantly to the current deficit. The majority of the existing studies attempting to explore the determinants of the trade balance has mostly focused on Sri Lanka's overall trade balance. Consideration of the country's bilateral trade balances with its key trading partners would give a fresh perspective to the available research. Therefore, this study attempted to explore the determinants of the Sri Lankan trade balance with its major trading partners. The study employed four independent variables namely, relative gross domestic product, relative gross national income per capita, real exchange rate and import-weighted distance while taking the bilateral trade balance as the dependent variable. The panel data regression model has been employed by using the secondary data of five major export destinations and five major import origins of Sri Lanka for the period from 1999 - 2017. The results indicated that the relative gross domestic product and import-weighted distance have a negative significant impact on the trade balance while relative gross national income per capita has a positive significant impact on the trade balance. However, it was revealed that the real exchange rate does not have a significant impact on the trade balance in Sri Lanka. Therefore, an import curtailing policy minimizing transportation cost together with an export-led growth strategy is recommended to improve the trade balance in Sri Lanka.
Applicability of Uncovered Interest Rate Parity: Evidence from Sri Lanka.
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Dissanayake, D.M.U.H.; Kethmi, G.A.P
The purpose of this research is to examine the validity of the Uncovered Interest rate Parity (UIP) theory in Sri Lanka. UIP theory states that, under rational expectations, the rate of depreciation of local currency should be precisely equal to the difference between the domestic and the foreign-risk free interest rate. This research examines the validity of the UIP condition in both long-run and short-run dynamics applying the Autoregressive Distributed Lag cointegration approach (ARDL) for Sri Lanka. Optimum lag order is observed using all possible Goodness of fit tests and a maximum of 8 lags. The results obtained through the ARDL and VECM model shows that the Exchange rate returns has a significant positive impact on the Interest rate in both short run and long run for Sri Lanka. Hence, it can be concluded that Exchange rate returns has a positive impact on the Interest rate which validates the Uncovered Interest rate Parity (UIP) theory in Sri Lanka.
Applying Six Sigma Methodology for Process Improvement in Apparel Sewing Process: With Special Reference to ABC Apparel Company
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Gunawardana, I.P.A.B.; Perera, R.A.S.A.; Amarasena, T.S.M.
Six Sigma is a project-driven approach to improve the process by eliminating the defects, delays in the system. Modern organizations adopt the Six Sigma methodology to improve their processes in order to eliminate the defects and address the customers’ requirements in a greater manner. ABC Company is currently facing a quality issue of having a high deviation between the Actual time and the Standard time in their production line. Therefore, researchers applied DMAIC Methodology (D-Define, M-Measure, A-Analyze, I-Improve, C-Control) in Six Sigma with the aim of reducing their actual time in performances. This is applied and mixed study in nature. The main study objective is to improve the sawing process by reducing the time deviations between actual time and the Standard time of the apparel production in ABC Company by using Six Sigma Methodology”. Primary data are used for the study, and samples of twenty-five apparel units from the pre-manufacturing round (Quality Checking round before manufacturing) are obtained. Also, five employees are interviewed to find the causes for the deviation in production time. Tools used in different phrases in DMAIC methodology, such as SIPOC Diagram, Defects per million opportunities, non-value-added time calculations, Control Chart, Cause and effect diagram are used as analytical tools. Analyzed data revealed that the current process’s Six Sigma level of 3.4 was improved by reducing the non-value-added time from 1.75minutes per apparel. It is a 26.4% improvement in time performance. It is crystally clear that Six Sigma methodology can successfully apply to improve the process in reducing non-value-added time in the manufacturing process in apparel production in ABC Company.
Are Sri Lankan Farmers Ready to e-agriculture Transformation? Perspective on E-readiness Measurement
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Sachitra, V.; Padmini, C.
There is consciousness that Information and Communication Technology (ICT) should be efficiently used to develop agricultural sector. E-agriculture is vital for supporting the promotion of agriculture products and to have an impact on the living standards of farmers. Before developing any e-agriculture technology, it is needed to measure the e-readiness as it will be an indicator to predict the utilization of technology. Quite a few e-readiness initiatives have been initiated to help developing countries’ agriculture sector. Prior literature, a large variety of e-readiness tools currently exist, using a variety of questions, statistics, benchmarking and historic analyses. However, these indicators come with a particular perspective. The analysis of the literature demonstrates that most of the indicators of ereadiness related to technology infrastructure, human skills, people and accessibility and connectivity. However, the challenge is to construct a comprehensive model that would incorporate all the major driving forces of an economy that would directly effect on the improvement of e-agriculture. This paper provides a first attempt to conceptualize the scale to quantify the e-readiness of farmers in Sri Lanka utilizing the criteria 8Cs. The present study will be useful for policy makers as well as researchers for the measurement of e-readiness of farmers to know their preparedness and ability to use technological devices. The e-readiness measurement will be utilized to evaluate the farming community’s readiness to engage in eactivities such as e-commerce and e-government.
Audit Expectation Gap: A Review of Literature
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Deepal, Deepal, A.G.; Jayamaha, A.
Unexpected failures of corporate giants such as Enron, World Com, Arthur Andersen, and Xerox together with scams and financial scandals in the world have seriously damaged the image of the audit profession. As a result, society’s confidence and reliance on auditors have decreased while their expectations pertaining to the audit profession have increased, establishing an Audit Expectation Gap (AEG). Hence, the concept of AEG has been studied using various interpretations, as well as varied manifestations of the structure, limitations of each component, and related contributing variables. The purpose of this paper is to construct a new synthesis to the existing knowledge of AEG discovered by numerous scholars in the world. Hence, this study reviewed literature pertaining to definitions and meanings of AEG, relevant theories and models deployed, the factors contributed to the gap and several research methods used in empirical studies by numerous scholars. As a desk research, this study further reviewed the empirical studies pertaining to the developed and developing countries separately. As per the methodology in this study, the keywords, namely “audit expectation gap” and “audit expectation-performance gap” were used to search relevant publications in google scholar database. The research articles published from 1974 onwards were mainly selected. It was found that the empirical studies pertaining to the public sector is very few whereas there is a dearth of such studies in Sri Lanka. Finally, a fresh, but a more straightforward definition was created and described the significance of AEG, adding novelty to the extant literature, and given suggestions for further studies.
Behavior of Exchange Rate and its Impact on Other Macroeconomic Variables: Perspective of the Sri Lankan Economy
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Damayanthi, N.M.M.; Gunawardhana, C.S.
Understanding the behavior of Real Effective Exchange Rate (REER) of Sri Lanka with other macroeconomic variables is an important element which directly link with the external sector stability. With the aim of understanding the behavior of exchange rate based on external sector dynamics, the study performs the Vector Auto Regression (VAR) model as a tool covering the period from January 2010 to March 2019. The findings of the research revealed that the behavior of exchange rate with net intervention to foreign exchange market by the Central Bank of Sri Lanka (CBSL), the worker’s remittances, net of external debt disbursement and external debt services payments, changes in policy rates of United States, changes in international crude oil prices and earnings from tourism are in line with the theoretical expectations which is positively influence on exchange rate in a country. However, research findings were contrary with the theoretical expectations of behavior of inflation, domestic interest rates and net exports. Even though the depreciated domestic currency may result in increasing net exports, Sri Lanka has been a net importing economy due to higher consumption driven economic activities. This has resulted further depreciation of domestic currency. In conclusion, the domestic currency is depreciated due to lack of robustness of the variables that cause appreciation of domestic currency. Therefore, economic fundamentals should be prudently handled by the policy makers in order to preserve the optimal level of the exchange rate of the country.
Brand Value Co-creation in the Life Insurance Sector: Way Forward via Service Dominant Logic
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Ekanayake, A.S.; Weerasiri, R.A.S.
The underpinning logic of value co-creation in service logic is reviewed in this paper, where value co-creation theory is increasingly being addressed. Scholars are revisiting the philosophy and methods of creating value and have found that customers are no longer simply product users. They have not only become a major innovator for companies, but also a source of competitive advantage for companies. A different marketing management logic offers a fresh perspective on service activities that were previously dominated by a goods-centric logic. According to this logic, the customer always co-produces services and value co-creates, not simple marketing goals, because in the service process, knowledge and other resources that influence the success of a value proposition are mobilized. This article examines the value cocreation of services in the Business-to-consumer segment and focuses on service-oriented architecture.in this paper this researcher reviewed three different aspect of value co-creation such as why do customers take part in co-creation of value in the life insurance sector? How can we co-create value in the life insurance sector? Additionally, the effect of value co-creation. To begin, the research theme of why customers participate in value co-creation and related research is primarily concerned with the psychological motivations and personal characteristics of customers who participate in value co-creation and related research. Eventually this researcher suggested further research arears to be done to develop the managerial implication in the service-oriented firms.
Business Process Management (BPM) Integrated with Daily Management (DM) to Sustain Organizational Performance in Lean Manufacturing Industry
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) De Silva, P.H.S.C.
Business process management (BPM) and Daily management (DM) are both recognized for improving organizational performance through continuous improvement, yet their similarities and differences have been poorly discussed so far. This paper aims to explore with both methodologies of improving sustainable operational performance in Lean manufacturing industry. The purpose of this study is to explore the link between Manufacturing Strategy cascading into DM, while improving internal functional business processes through BPM discipline hence sustainable operational performance in Lean manufacturing industry. This paper approach was used to explore the relationships between various prerequisites of integration and to understand “how” or “why” their presence may influence the success of sustaining integration. LM itself comprise of different management systems and methodologies. Both methodologies BPM and DM seek continuous improvement with focus on the customer and process standardization have the potential to bring to organizations gains in cost reduction, waiting times and quality increase. Regarding the observed differences, the main flow type analyzed by each methodology (information and materials for BPM and DM, respectively) and the type of vision used by both to develop the culture of continuous improvement are highlighted (top–own and bottom–up, for BPM and DM, respectively). In the authors ‘view, these differences are fundamental so that these BPM and DM methodologies can be applied in synergy within the same organization. This paper extends theoretical contribution in production and operations management literature, highlighting how social and technical practices have to interact to enable a successful lean manufacturing implementation.
Can Psychological Capital (PsyCAP) be used as a Moderator in Developing Sustainable Competitive Advantage (SCA) of an Organization? Identification of the Gaps in Literature
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Bandaranayake, I.W.M.; Pushpakumari, M.D.B.
The Psychological Capital (PsyCAP) has been derived from the Positive Psychological Movement of Seligman and Csikszentmihalyi. It is based on the idea that human strengths can be used effectively to benefit at individual level as well at organizational levels. Luthans, and Youssef reasoned those human resources are crucial for the organizational success and suggested it offer the best return on investment for Sustainable Competitive Advantage (SCA) for an organization. The literature show that PsyCAP has widely been used as Mediator and Moderator in research on business Organizations. The mediation and moderation are important concepts and are widely used in Strategic Management research. A systematic literature survey was conducted using the Google Scholar. Two strings, "PsyCAP"+"Moderator” + “Sustainable competitive advantage" and “Psychological Capital as a Moderator” + “sustainable Competitive Advantage” used to collect articles to identify the moderation effect of the PsyCAP in the business research and to assess how it is useful in organizational performance. The literature show that PsyCAP can be used as a moderator in individual, team and organizational levels to improve individual wellbeing and organizational performance
Career Indecision among Technical and Vocational Education and Training (TVET) Undergraduates in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Muthugamage, C.D.; Galhena, B.L.
Grounding for career is one of the crucial responsibilities for young people. Career indecision is the difficulties faced by individuals when making decisions regarding their career which is a dynamic phenomenon that is being vicariously explored presently. Nevertheless, previous studies were done in most of the developed contexts and there were no adequate studies have been done in this regard in a Sri Lankan context. Thus, the main purpose of this study is to identify the significant factors affecting career indecision of the Technical and Vocational Education and Training (TVET) institutes’ undergraduates in Sri Lanka. Five independent variables namely Career Anxiety, Internships, Self- Efficacy, Perceived Social Support and Career Counseling were identified to assess the impact made upon career indecision. The sample was derived from 500 students from National Institute of Business Management. Multiple regression analysis was then used to test the hypotheses. As per the key findings of the study, self-efficacy is the most significant factor impacting upon career indecision. Further, findings reveal that Internships, Perceived Social Support, career anxiety and Counselling have significant impact to the career indecision among the respondents. These findings would be beneficial to undergraduates, policy makers and government institutions as well as for the society at large.
Conceptual Study on Isomorphism and Stagnation of Employment Opportunities for Female Labor Force in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Nagendrakumar, N.; Madhavika, W.D.N.; Nimeshika, D.K.M.S.; Bulathsinhala, D.S.M.; Kalhara, H.L.R.; Rodney, R.
Female unemployment is one among the major issues that stifle the development potential of economies, as it slacks off the potential skills, knowledge, and competencies of female job anticipants without being utilized productively. Authors’ intension through the study is to develop a conceptual model in order to assess the continuing problem of female unemployment of Sri Lanka. The value is comparatively high to that of males despite the country’s initiatives towards equal access for health, education and other regulations to promote equal opportunities for all citizens. The identified research gap has been addressed using Institutional Isomorphism - A concept at the core of the Institutional Theory. Institutional Isomorphism explains the phenomena of organizational homogeneity created through three distinctive mechanisms - coercive, normative, and mimetic isomorphism and its subsequent effect on female unemployment is presented in a theoretical framework at the end of the study. Apparently, the study makes a theoretical implication as accommodation of Institutional Isomorphism to assess a research problem of this variety is done for the first time both locally and internationally. The study has socio-cultural and economic impacts as the proposed conceptual model would aid potential researchers to address the problem of female unemployment through a novel facet with the anticipation of revealing broader factors and forces that constrain the employability of females and suggest feasible solutions to overcome the above.
Conceptualization of Digital Marketing Orientation on Business Performance of Small and Medium Exporters in Digital Era: With Special Focus on Export Market Orientated Behavior
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Jayasooriya, S.D.; Yatigammana, M.R.K.N.
There is a huge gap between market-orientated information generation, dissemination, and responsiveness to the customer of SMEs in developing countries. Developed countries massively use digital marketing to minimize the gap. There is an issue with the impact level of digital marketing adaptation and Digital Marketing Orientation (DMO), especially for SMEs in developing countries who are operated in a highly competitive international market. This paper aims to explore the impact level of the DMO of SME exporters to increase the business performance in the competitive international market settings. The methodology for this study was literature reviewed. The content analysis was used to review the studies in E-Marketing /DMO in SMEs. Findings revealed that the DMO of developing countries is still in the embryonic stage. To get the maximum opportunities, SMEs should incorporate DMO with Export market-orientated behavior and Export entrepreneurship orientation. This paper contributes the concept, knowledge, and theories to future researchers to investigate further. Practitioners, policymakers, or digital marketing service providers can increase digital marketing/emarketing to increase business performance.
Constructing an Effective Performance Management System for the Highestgraded Construction Companies in Sri Lanka: A Concept Paper
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Gunathilake, G.G.T.Y.; Jayasooriya, S.D.
This explanatory research is an attempt to address the declining individual work performance (IWP) among the highest-graded construction companies in Sri Lanka due to poor performance management systems (PMS). Based on pragmatic research philosophy, the author intends to empirically test the relationship and the impact of PMS effectiveness on the IWP using work engagement and high-performance culture (HPC) as mediators while conducting a qualitative inquiry on the four-stage process and design aspects of PMS to develop an effective model PMS for the target population as the primary objective of the study. The conception of insufficiency of mere changes in PMS without changing the culture into HPC would be explored while developing a new scale to measure HPC as another scholarly contribution. The study would validate and provide a fresh interpretation of the constructs understudy in the postpandemic context. A questionnaire comprising 4 standard scales along with the proposed would be administered among a sample of 357 officer-graded employees selected from 9 companies using stratified random sampling. Correlation, regression, SEM, and ANOVA would be performed for testing 8 hypotheses, analyzing the impact and demographic information respectively. Around 25 interviews and focus group discussions along with content analysis would be employed in the qualitative phase of the study. The absence of statistical validation of the proposed model of effective PMS could be identified as the main limitation while replicating the same research as a longitudinal study or in a different time and industry contexts could be potential future research avenues.
Constructing Lean-Green Productivity Index to Quantify the Environmental Impact for the Leaner Apparel Industries in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Perera, R.A.S.A.; Wahala, W.M.P.S.B.; Amarasena, T.S.M.
The apparel industry in Sri Lanka is having lack of mechanism to measure the environmental benefits from lean, which is well-known philosophy to eliminate waste. The main objective of this study is “To quantify the impact of the lean savings towards the environment, through the lean- environmental matrix based on Green productivity matrix?” The main objective is reached through the following sub-objectives such as: to identify what variable has been the highest correlation among the lean savings and lean earnings with Product Life Cycle Cost in the operational activities in the apparel industry in SL; to identify how to develop the quantify coefficients for the environmental index in the apparel industry in Sri Lanka; to identify what type of relationship prevails between lean productivity and the environmental index in the apparel industry in SL; to identify what type of quantifying relationship prevails between the Lean productivity index and the environmental index in the operational activities in the apparel industry in SL. Secondary data from twenty-five apparel is considered for the sample and Lean savings, Life Cycle cost, variables are considered as independent variables. Solid waste, Toxic waste, Energy waste, Water waste, and Air pollution will be considered as dependent variables. To reach them, Multiple Regression analysis, regression analysis, and Correlation analysis, green productivity matric are expected to use as analytical tools. This study will contribute to generating greener options to achieve Sustainability.
Corporate Governance and Agency Costs in Non-Financial Listed Companies in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Weerapperuma, A.D.A.P.; Panditharathna, K.M.
The purpose of this research study is to analyze the corporate governance mechanisms on agency costs in Sri Lankan listed firms. To analyze this effect; board size, board independence, remuneration, and managerial ownership are considered as effective governance mechanisms in this study. The study was adopted a quantitative research approach and panel data analysis was used to estimate the association between corporate governance and agency costs using the annual reports’ data of 50 non-financial listed firms in Colombo Stock Exchange during 2016- 2019. The empirical results indicated that board size, independent directors on the board, managerial ownership have negative impact on the assets utilization ratio also firm size is negatively related to the assets utilization ratio. But remuneration and leverage has a positive impact on agency cost. Evidence of this study revealed that there is a significant relationship between corporate governance mechanisms and agency costs in Sri Lanka. This study supports shareholders, managers, and other stakeholders on how internal corporate governance practices are affected to minimize conflict of interest between principal and agent.
Corporate Governance and Financial Statement Frauds: Evidence from Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Rajapaksha, R.A.S.; Wijerathna, A.G.H.S.K.; Muthunayake, H.; Weerawickrama, V.L.
With the increased number of frauds taking place in the corporate world regulators and policymakers around the world have been making attempts avoid or reduce the frauds. Implementation of corporate governance code can be identified as one of the major mechanisms implemented against frauds. However, regardless of the implementation of such mechanisms still the frauds continued to be taking place. Accordingly, an attempt should be made to identify the extent of influence of Corporate Governance Code in the prevention and detection of frauds in the companies. The study was conducted based on 40 listed companies in Colombo Stock Exchange. The occurrence of the financial statement frauds was measured by incorporating Beneish M Score model. Corporate governance has been measured in terms of audit committee, CEO duality and Board Composition. As per the results of this study the corporate governance, board composition and CEO duality does not have a significant impact on the financial statement frauds. However, the results suggest that existence of audit committee has significant impact on the financial statements frauds. The existence of audit committee ensures the effective operation of internal controls which can prevent and detect frauds to a large extent.
COVID-19 Crisis and Resilience Measures: Evidence from Sri Lankan SmallScale Entrepreneurs
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Samarasinghe, N.V.H.H.; Hennayaka, J.S.; Disanayaka, D.M.P.P.; Gamage, U.C.; Weligodapola, M.; Shamila, P.
A more than one year after the COVID-19 pandemic affected the national and global economies. In Sri Lanka, as a developing country, this situation highly impacts on small-scale entrepreneurs. This study explores the solutions to provide efficient benefits for small-scale entrepreneurs who are going through a pandemic crisis. To survive unpredictable global pandemic situations, small-scale businesses have advocated new methods and strategies to continue business operations by identifying both threats and opportunities of this crisis. The study aims to determine the impact of business resilience planning and investigate the resilience measures to cope with the disruption caused by the COVID-19 pandemic. The study philosophy was positivism and conducted a deductive research approach that used a survey strategy with a cross-sectional time horizon. An online questionnaire-based survey with a 7-point Likert scale used to collect data from a sample of 107 small-scale entrepreneurs. This study has used quota sampling as a sampling method. The result demonstrates how business resilience impact mitigates the disruptions caused by the COVID-19 outbreak. The findings indicated a significant impact on business resilience from marketing strategies and employee arrangements because its important values are less than 0.05, and Beta values amount to 0.279 and 0.143, respectively. This study offers several contributions to researchers and extends the literature to provide a comprehensive focus for the country's economy and accelerate the up-skilling of small-scale entrepreneurs in Sri Lanka. This would be an approach for the government to identify potential business trends to improve small businesses easily.
A Critical Analysis of Online Consumer Buying Behavior of Cosmetics Products in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Savinda, K.W.K.; Wedasinghe, N.
Consumer behavior is dynamic and differed from one product to another due to dissimilarities in the Social, Cultural, Psychological and Personal factors. Cosmetics are one of the essential products in Sri Lanka which the consumer demand has been shifted to the virtual platform as a result of current COVID-19 pandemic, development of IT platforms and computer literacy of the consumers, convenience, less time and cost. Insufficient research findings and research gaps were identified in Sri Lanka and global previous literature with related to the consumer purchasing behavior of cosmetics. Therefore, this study was conducted to achieve research objectives of identifying significant factors, any correlation and to form a new model related to the online consumer buying behavior of Sri Lanka. Qualitative and quantitative techniques were utilized to analyze the data which extracted form a structured questionnaire and a Likert scale questionnaire. Significant factors, a cumulative impact and a strong correlation were identified in the data analysis which satisfied the research objectives. A new model was constructed based on the research findings.
CSR Disclosure and Financial Performance in Listed Manufacturing Companies in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Dilrukshi, R.M.D.N.
The study was conducted to identify the Corporate Social Responsibility disclosure and financial performance in manufacturing sector in Sri Lanka. CSR disclosure is indicated as independent variable and it was measured by using CSR index. Financial performance identified as dependent variable which measured by using the Return on Equity (ROE) and Return on Assets (ROA). Data was obtained from annual reports websites publications and secondary data was collected from the year 2014 to 2019. The data was analyzed using E-views and Pearson correlation. The study applied linear regression model to assess the impact of CSR disclosure and financial performance. Target population comprised of 38 listed companies of which, 30 companies were selected as sample. This data was collected for 5 years each firm giving 150 observations. Conclusions were derived based on 5% significance level. In this study show that CSR disclosure and financial performance has positive correlation. The study concluded further that significant relationship existed between CSR disclosure and ROE. The study recommended that manufacturing firms should have much attention to the importance of CSR and need to pay more attention to increase financial performance.
Determinants of Green Banking Initiatives on Employees’ Work Satisfaction in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Rathnathilake, C.; Dharmawansa, A.D.; Madhuwanthi, R.A.M.
Today, organizations are more concerning to protect the environment in their routine activities. Among the aforesaid organizations “Banks” are showing a massive trend in implementing green initiatives. The ultimate success of the implementation of green banking initiatives is depended on the delivery users or employees of the banks. Although green banking initiatives increased positively, it can be identified that the employee retention ratio has been decreased considerably. If employees are not satisfied with their work-life, it may cause retention intentions, increasing costs, decreasing profits, and customer unhappiness towards the organization. The objective of this research is to identify the determinants of green banking initiatives on employees’ work satisfaction. This study has been designed based on the independent variables of work stress, work efficiency, risk of the transactions, monetary benefits, practices of Human Resource (HR), and reputation of the company against the dependent variable of employees’ work satisfaction on green banking initiatives. The questionnaire method is used for data collection with considering private sector commercial banks in Sri Lanka. The sample size was 251 employees. A quantitative study was carried out, and data were collected through a pre-formatted questionnaire with simple random sampling technique. The analysis was conducted using descriptive analysis and inferential analysis with SPSS software. Work stress, work efficiency, the reputation of the company have a positive significant relationship with the employees’ work satisfaction with green banking initiatives based on the results of the statistical analysis. Green banking initiatives are positively affected the employees’ satisfaction with the aspects of work stress, work efficiency and the reputation of the company. The employees’ stress and the work efficiency can be addressed with making the banking culture by using green banking initiatives specifically with high technology. The risks of the transactions, monetary benefits, and practices of Human Resources with green banking initiatives are negatively affected employees’ work satisfaction. Most of the banks in Sri Lanka are at the initial stage of the green banking implementations and a low level of customer awareness may be the reason for getting negative relationship for those variables.