ICBI 2019

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Antecedents and Consequences of Customer Experience in Theme Parks
(International Conference on Business and Information (ICBI – 2019), [Tourism & Hospitality Management], Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2019) Mathi, K.M.; Bhuvaneswari, S.
This study aims to investigate (i) the antecedents of customer experience and (ii) the impact of customer experience on customer loyalty with relevance to theme park. Data for the study were collected from the 460 respondents who visited the theme park at least once. The area of the study was Chennai city in Tamil Nadu state. Respondents were selected using a nonprobabilistic sampling technique. The data were analyzed by using AMOS 20. The findings revealed that the proposed model fits the observed data well, with acceptable model fit indices. Physical environment, social environment, audience and actors were found to be the most important antecedents that influences affective experiential state. The study also found that, theme park customer experience was associated with cleanliness, layout, light, safety and security. The study further confirms that affective experiential state and cognitive experiential state have positive effect on affective loyalty and cognitive loyalty. The Implications for the managers were discussed in the light of increasing the customer experience and, in turn, elevating the customer loyalty.
Association between Working Capital Management and Financial Performance: Moderating Effect of Management Policies
(International Conference on Business and Information (ICBI – 2019), [Accounting, Finance and Economics], Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2019) Madushan, A.M.T.; Dissanayake, T.D.S.H.
Many studies have recognized different types of associations between working capital management and firms’ financial performance while a very few studies had identified the moderating effect on the association between working capital management and firms’ financial performance. Thus, this study aims to investigate the association between working capital management and firms’ financial performance and the moderating effect management policies. Data were gathered from manufacturing companies listed in the Colombo Stock Exchange for the period of five years from 2014 to 2018. Sample consist of 28 manufacturing companies. This study uses correlation, multivariate regression and panel regression to obtain the results. The results show that the working capital management in terms of cash conversion cycle is negatively associated with the firms’ financial performance in terms of return on assets and net profit margin while the effectiveness of management policies in terms of average age of inventory, average collection period and average payment period strengthens the association between working capital management and firms’ financial performance. This study is useful for the future studies, analysts, financial managers in achieving their goals and objectives.
The Association of Transformational Leadership with Employee Empowerment: A Study among IT Professionals
(International Conference on Business and Information (ICBI – 2019), [Human Resource Management], Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2019) Mathew, G.C.; Ramanathan, H.N.; Athira, L.
Organizations in the 21st century are in the process of identifying different ways and means to develop and maintain leadership in the domain they work. By influencing the attitude and behavior of employees, as well as motivating them to contribute more, leaders can play a pivotal role in the achievement of organizational goals. Empowerment of employees gives them an extent of autonomy as well as decision making capacity to the employees at lower level. Inadequate empowerment of employees may lead various consequences like turnover of employees, lack of productivity among employees, decreased contribution; absence of updating knowledge as well as techniques, lack of development and growth, excessive wastage and creation of non-qualitative products and services. Organizational decision makers are more or less myopic about this. Moreover, not much attention has been paid to identify whether and how leadership influences employee empowerment. This study will help the organizational executives to know the role of transformational leadership style on employee empowerment. Descriptive research was carried out adopting a 7-point scale structured questionnaire to collect primary data. Regression analysis was used, and it is found that transformational leadership is positively associated with employee’s feeling of control; in other words, managerial empowerment.
Buying Motives of Alternative Fuel Vehicles in Sri Lanka and their Impact on the Purchasing Intention
(International Conference on Business and Information (ICBI – 2019), [Doctoral Colloquium], Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2019) Morapitiya, P.R.
In recent decades, it is identified that the emissions of fossil based fuel driven vehicles as one of the main curse for air pollution which leads to global warming. As a result of that, concerns over the environmental impacts of vehicular pollution of the transport system have led to the governments of all developed and developing countries to focus on establishing practical mechanisms to reduce fossil fuel based fuel emissions than ever before. Accordingly, they establishes tools to convert conventional fossil based fuel emissions in to greenhouse gas emissions. The prime objective of this research is to assess consumer buying motives of alternative fuel vehicles (AFVs) and their impact on purchasing intentions in Sri Lanka. This study is underpinned by theories of hedonic motives, utilitarian motives, value, planned behavior and diffusion of innovations. Based on the literature review, no straight theories to link consumer buying motives to purchasing intention. Therefore, the study will attempt to formulate a relationship of consumer buying motives to the purchasing intention to AFVs’ with CPV as mediating and Innovations as moderating variables. Findings of this study would be useful for academics and researchers and also for vehicle importers/dealers, consumers, governments, environmentalists, manufactures / collaborators to improve their areas of interests. The ontology of the research is objectivism while the epistemology being the positivism. According to nature of study, deductive research is employed with a quantitative research. Multistage mixed mode is used to collect data from three provinces in Sri Lanka. 422 general public who intend to purchase AFVs will contact for data gathering through a structured questionnaire.
The Causal Relationship between Air Transport and Economic Development: Empirical Evidence from Sri Lanka
(International Conference on Business and Information (ICBI – 2019), [Doctoral Colloquium], Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2019) Higgoda, P.G.R.R.B.
Air transport and economic growth are highly link and, in many cases, overlap. Empirical studies show that air transportation is a significant factor as well as an indicator of tourism growth and economic development. Numerous studies show that air transportation may have strong positive effects on tourism growth and economic development, producing what is called a direct causation. Tourism growth and economic development also have a significant impact in air transport demand (Bourguignon & Darpeix, 2016; Hakim & Merkert, 2016). Similarly, tourism growth and economic development of a country can also have significant effect on air transport expansion. An issue that follows this observation is whether air transportation enhances tourism growth and economic development, or vice versa, or whether they boost each other. The lack of extant literature on tourism growth and economic development led this study to answer the research question on whether the short-run dynamics and long-run relationships that have been experienced and expected to exist between Sri Lankan economy and air transport demands. To realize the study objective, appropriate estimations techniques (VECM, VAR, Granger causality test, and descriptive analysis) will be employed for the data set 1990 to 2018. Findings of this study will have some policy and management implications to the field of study.
Causality Effect and Exchange Rate Volatility of Sri Lankan Rupee and Emerging Asian Currencies against USD
(International Conference on Business and Information (ICBI – 2019), [Accounting, Finance and Economics], Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2019) Lingaraja, K.; Mohan, C.J.B.; Raja, M.
This study examines the long-run volatility and causality effects of Sri Lankan (LKR) currency and nine currency of emerging countries in Asia against USD over 15 years i.e., from 01st January, 2002 to 31st December, 2018. A descriptive statistics and Graphical model were specified and empirical results showed a significant currencies movements. The Granger causality test indicates the strong evidence that the causation runs between Sri Lankan currency (LKR / USD) to nine Asian emerging countries currency price behavior against USD. The purpose of the study is to make a finer point with respect to relationship, volatility and causality effect between the Sri Lankan currency and Asian Emerging countries currency returns against USD. It is found that the significant uni-directional causality effects and relationships among the sample currency data series with LKR against USD. Hence, this result would help to international portfolio managers, multinational corporations, and policymakers for decisionmaking in the Asian region.
A Conceptual Framework for Improving Performance Oriented M-Learning for Marketing Professionals in the Sri Lankan Information Technology Industry
(International Conference on Business and Information (ICBI – 2019), [Doctoral Colloquium], Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2019) Velananda, Y.L.
Marketing Professionals in Sri Lankan information technology industry are frequent travelers and have insufficient time to participate in regular classroom training environment and looking for a new technology era where they can learn at anytime, anywhere. Mobile devices are attached to people’s lives. Therefore, the best solution is use of mobile learning. This study proposes a Conceptual Framework for Improving Performance Oriented M-Learning for Marketing Professionals in the Information Technology Industry concerning nine factors: Perceived Ease of Use, Perceived Usefulness, Personal Innovativeness, Performance Expectancy, Effort Expectancy, Social influence; Self-Management of Learning, Perceived Self Efficacy and Perceived Playfulness. The factors were based on Technology Acceptance Model, Unified Theory of Acceptance and Use of Technology and several other factors from the literature. The report discusses the problem statement, objectives and literature review. Then factors were analyzed based on data collected from 132 participants using a survey questionnaire. Data were analyzed using Cronbach's Analysis, Spearman's Correlation Coefficient and Two-way ANOVA. Based on the results, critical success factors (CSF) were identified and the framework was developed. Finally, the developed framework was tested; recommendations and the future research were discussed. A conceptual framework - nonagon model was built based on the analysis. The Perceived Ease of Use, Perceived Usefulness, Personal Innovativeness, Performance Expectancy, Effort Expectancy, Social Influence, Self-Management of Learning, Perceived Self Efficacy and Perceived Playfulness were found as the CSFs. The software development companies and the educational institutions can adapt to this framework. Researchers can focus on M-learning targeting other professions and industries.
Consumer Brand Engagement on Social Media: A Review of Typology and Message Strategy for Marketers
(International Conference on Business and Information (ICBI – 2019), [Doctoral Colloquium], Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2019) Chandramohan, S.
Marketer’s brand communication has been continuously being challenged in the modern social media platform. Various studies indicate organizations are facing significant complexities in understanding consumers’ social media engagement globally. As such this study attempts to investigate the literature in brand communication and typology strategies by the organization. Three main strategies were identified as functional, transformational and interactional. While the functional strategy focuses mainly on the fundamental information, organizations wanted to convey the transformational strategic focuses on the consumer psychological aspects. Functional and transformational strategies were coming from rigorous research finding and have been used in the traditional media over four decades. However, social media platform has given a new dimension for the marketers where the organizations can interact with the consumers at a personal level. The literatures indicate the further research is required on the interactional strategies and the optimal combination of using different strategies in brand communication. Also this study attempts to understand the transmission of the brand content communication and its impact on the organizational boarder marketing objectives.
Corporate Governance and Corporate Risk Management: Evidence from Sri Lanka
(International Conference on Business and Information (ICBI – 2019), [Accounting, Finance and Economics], Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2019) Sameera, T.K.G.
In response to the recent financial crisis and corporate failures at the beginning of the millennium, business community has shifted their attention towards internal control and risk management issues. In the recent past, Sri Lanka has also experienced several corporate failures. Such failures were the results of imprudent related party transactions and investments; weak risk management systems and unethical business practices. Many research studies have been carried out in the areas of corporate governance and financial performance related to financial structure in both local and global context. Most of them had been carried out to assess only the impact on performance focusing less on how governance practices are helpful in improving the risk management of firms. Therefore, this study aims to investigate the impact of corporate governance on the corporate risk of listed companies in Colombo Stock Exchange in Sri Lanka. A regression model was used to establish a negative relationship between the governance variables and the corporate risk. The findings of the study revealed that board independence has a significant negative impact on corporate risk. The board structure and board procedures was found to have no significant impact on corporate risk. Therefore, the study infers that the greater representation of non-executive directors of the board contributed to reducing the corporate risk by improving the controls and strategic functions of the board through close monitoring and taking effective decisions.
Creating Competitive Advantage through Open Innovation in Dynamic Business Environment
(International Conference on Business and Information (ICBI – 2019), [Doctoral Colloquium], Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2019) Gunarathne, I.
This paper aims to assess the potential of a company to create competitive advantage through open innovation in dynamic environmental context of organizations. The dynamic nature challenges the competitiveness of a firm demanding to implement novel corporate strategies to stay competitive in the market. Hence, firms view traditional methods of competing in markets to be as less reliable, and obsolete. There are three different theoretical perspectives identified in open innovation mainly as service science, innovation and technology management, and marketing and consumer research. The collaborative process of producing value with the support of all parties involved in the supply chain process means, having participants with diverse ideas. However, having a diverse group results in having individuals with varied interests and expectations that can pursue an individual agenda. Hence, it can force people to undertake an additional risk by moving from their own comfort zones for better results. It also can create ambiguity and result in loosing common understanding, making it harder to achieve the common goals set initially. Instrument to open innovations in organization are the collaboration, culture and the structural changes that foster and facilitate success.
Determinants of Foreign Direct Investment and its impact on Economic Growth: Evidence from South Asian Association for Regional Cooperation (SAARC) Countries
(International Conference on Business and Information (ICBI – 2019), [Accounting, Finance and Economics], Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2019) Gunawardhana, C.S.; Damayanthi, N.M.M.
It is argued that Foreign Direct Investment (FDI) inflows benefits the recipient countries by providing capital, technology and long term foreign exchange and bridges savings and investment gap of the recipient country. Further, FDI provides an important role in achieving economic growth in the developing countries. This paper identifies the influential factors that determine FDI inflow in the South Asian Association for Regional Cooperation (SAARC) Countries and empirically investigates the relationship between economic growth and FDI. Further, this study uses time series data from 1980 to 2018 and considered the size of the economy, economic growth, potential of the host market, economic stability, and degree of openness, income level and institutional developments in the host country to identify influential factors to determinants of FDI. Analysis reveal that countries with larger Gross Domestic Product (GDP) growth rate can successfully attract FDI and FDI on the other hand, significantly affect economic growth of a country. In addition, it was found that current account balance, financial deepening and trade openness significantly play a crucial role in determining the FDI flows into recipient countries.
Determinants of Stock Returns: Evidence from Listed Commercial Banks in Sri Lanka
(International Conference on Business and Information (ICBI – 2019), [Accounting, Finance and Economics], Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2019) Withanage, W.S.; Yashodha, K.A.D.H.; Wijesinghe, M.R.P.
This research study attempts to investigate the determinants of stock returns using evidences from listed commercial banks in Sri Lanka. Inflation rate, GDP growth rate and Interest rate are taken as the macroeconomic determinants for this study while earnings quality measured by accruals also considered as a paramount variable. The study was carried out by using quarterly data for the period from 2010 to 2015 under the regression model, granger causality test, Vector Error Correction Model and impulse response test. Results concluded that macroeconomic variables and earnings quality except GDP growth rate have insignificant effect on stock returns of selected Listed Licensed Commercial Banks in Sri Lanka. GDP growth rate has a significant negative impact on stock returns while inflation rate has insignificant positive impact on stock returns. Earnings quality and interest rate have insignificant negative relationship on stock returns. Moreover, results showed that there is a higher response from GDP growth rate to stock returns.
Determinants of Work - Life Balance (WLB): Evidence from Generation Y Employees in Sri Lanka
(International Conference on Business and Information (ICBI – 2019), [Human Resource Management], Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2019) Senaratne, R.B.C.P.; Tennakoon, W.D.N.S.M.
Previous studies have reported a significant attitudinal difference between the Generation Y (Gen Y) and others in their Work-Life Balance (WLB). The present study aimed at finding promising factors those influence the WLB and their impact on the WLB of Gen Y. A quantitative inquiry of WLB determinants namely; flexibility & freedom, motivation, job satisfaction, feedback & support and technological adaption is performed in realizing the aim of the study. The research method was a field survey (N = 213) of randomly drawn Gen Y respondents who are currently employed in Kandy, Sri Lanka. The survey instrument had 32 items (α = 0.79) and the responses were anchored on a five point Likert scale. A Google form was e-mailed to the respondents (85.2% response rate) to collect primary data. Data were analyzed using univariate and multivariate analysis techniques. Data analysis resulted in detecting significant impact of job satisfaction, flexibility & freedom and feedback & support on WLB of Gen Y. Theoretical implications posited by this study are the determinants of WLB for Gen Y. i.e. Job satisfaction, Flexibility & freedom and Feedback & support. Findings do hold the practical importance of focusing on above factors in any such attempt to enhance the WLB of Gen Y employees who are currently the most active group in the workforce.
Difference of Work Related Behaviors between Generation X and Generation Y: A Study of Professionals in one of the Leading Development Banks in Sri Lanka
(International Conference on Business and Information (ICBI – 2019), [Human Resource Management], Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2019) Pathirage, U.K.; Weerasinghe, T.D.
Managing a multi-generation workforce today is becoming endlessly challenging, basically due to their different work related behaviors. In the recent literature, it is reported that further investigations are required for three work related behaviors of generations; work engagement, career development and teamwork, in banks, especially in developing countries. As a leading development bank in Sri Lanka, XYZ is unique in its multi-generation workforce consist of 2347 permanent employees as at 31st July 2019 across the county. In the context a gap is identified for such a study among two major generations; Gen X and Gen Y. Hence, bridging the gap in the context, and adding further evidence to the extant literature, this study was carried out as a cross-sectional, quantitative, field study among a sample of 350 Gen X and Gen Y professionals, randomly selected from XYZ Bank. Primary data were collected based on a standard measurement scale, through an offline questionnaire survey. Descriptive statistics and the Independent Sample t-test were used to analyze data and coming to conclusions with the aid of SPSS software. There is no significant difference found among Gen X and Gen Y professionals at XYZ Bank in terms of those three work related behaviors; work engagement, career development and teamwork. Further, the importance of a strong corporate culture is emphasized in which generational differences are neutralized up to a significant extent. So, it is recommended that the XYZ Bank does customize its people management policies and practices based on the need and the dynamics of its corporate culture.
Does Corporate Governance Moderates the Effect of Firm Size on Capital Structure Choices? A Study Based on Listed Manufacturing Companies in Sri Lanka
(International Conference on Business and Information (ICBI – 2019), [Accounting, Finance and Economics], Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2019) Perera, K.M.P.; Dissanayake, T.D.S.H.
The purpose of this study is to investigate the effect of firm size on capital structure choices and whether corporate governance moderates the impact of firm size on capital structure choices. This study collects data from 28 manufacturing companies in the Colombo Stock Exchange (CSE) for the period 2013 to 2017. Descriptive statistics, correlation analysis, and panel regression analysis was used for data analysis to examine the proposed hypotheses. It was found that there is a significant (<0.01) positive association between firm size and capital structure choices. Further, findings reveal that corporate governance does not moderate the effect of firm size on capital structure choices of manufacturing companies in Sri Lanka. These findings are expected to have significant policy implications.
Does Weather Contributes to Stock Price Variation? A Cointegration Analysis
(, International Conference on Business and Information (ICBI – 2019), [Accounting, Finance and Economics], Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2019) Gunasekara, A.L.; Jayasinghe, J.A.D.K.
The objectives of this study are to investigate whether there is a long term relationship between stock returns and weather factors and to examine whether the weather factors have an outperforming effect over macroeconomic variables when explaining the stock price variation. This study is motivated by the emergence of behavioral branch of asset pricing which pays attention towards the irrationality of investors who are influenced by the mood and the sentiment. This study investigates this phenomenon taking evidence from a growing market, Colombo Stock Exchange. The study use Johansen Cointegration Test with VAR - Vector Error Correction Estimates and Variance Decomposition. The results confirm that weather factors are related with the stock prices in the long run and reveal that temperature has an outperforming contribution to the stock price variation whiles supporting the Temperature Anomaly which is widely researched in this background.
Drivers of Customer-based Brand Equity in Personal Care Products in Coimbatore City
(International Conference on Business and Information (ICBI – 2019), [Marketing Management], Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2019) Mahalingam, S.
The purpose of the study is to determine the relationship between the Socio-economic factors with the brand of personal care products. The study is mainly based on primary data which was collected from 492 customers. This study develops and empirically tests a model for Customer - Based Brand Equity among Personal Care Products. Statistical tools such as Karl Pearson's coefficient of correlation and multiple regression analysis were used to analyze the data. The dimensions of brand equity such as brand awareness, brand knowledge, perceived quality, brand association, purchase decision and, post-purchase behavior were examined through various tools. Results of the research are focused on the Customer-Based Brand Equity and discussed by considering the perception of customers with regard to attributes and benefits, purchase decision, awareness, association, identity, knowledge, performance and loyalty in fetching.
Drivers of Destination Loyalty in Eco-Tourism: Evidence from International Millennial Tourists in Sri Lanka
(International Conference on Business and Information (ICBI – 2019), [Tourism & Hospitality Management], Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2019) Ranaweera, R.A.A.R.; Fernando, P.I.N.; Dilhani, H.A.A.
The primary objective of this study is to identify the drivers of destination loyalty in ecotourism. Non-probability sampling technique was used for this study to collect data from 150 international millennial tourists visiting Ella and Horton Plains regions in Sri Lanka. A structured questionnaire was used to collect data. Descriptive analysis and multiple regression analysis were used to analyze the data. Findings revealed that most of the millennial tourists do not favor Sri Lanka as the preferred eco-tourism destination and they highlighted that resources of the eco-tourism destination is one of the most influential factors which tend to attract tourists to the destination. Under the recommendations, maintain proper waste disposal system, effective promotional method, convergence of facilities, implement the rules and regulations of the country could be proposed. Further, sustainable tourism practices need to be adopted by the eco-tourism destinations to enhance the destination loyalty towards Sri Lanka.
The Effects of Air Passenger Transport Liberalization in Sri Lanka
(International Conference on Business and Information (ICBI – 2019), [Accounting, Finance and Economics], Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2019) Hirimbura, M.K.R.N.; Manawaduge, C.D.; Hewage, D.
This study examines the effects of air transport liberalization in Sri Lanka. The study was applied to the 42 active air service agreements Sri Lanka has concluded with other countries. It takes passenger traffic as a function of various socio-economic variables, geographic variables and regulatory variables. Secondary data was collected for the year 2014. Gravity model analysis was used to calculate the increase in passenger traffic that arises as result of market access liberalization. The study found robust evidence of a negative relationship between international passenger traffic and bilateral characters of an air service agreement. Bilateral air service agreements hinder international traffic growth. Restrictions on aircraft type, most negatively contribute to passenger traffic, while fifth freedom, authorized points and airline designation follows it. Removal of restrictions on bilateral factors could bring about an increase in passenger traffic. The traffic impact of market access liberalization in Sri Lanka ranged from 8.35% (Kenya) to 13.88% (Singapore), with an average impact across the 42 countries of 11.10 %.
Environmental Management Practices of an Apparel Manufacturer in Sri Lanka: A Critique
(International Conference on Business and Information (ICBI – 2019), [Entrepreneurship & Small Business Management], Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2019) Thevanes, N.
Environmental degradation is considered as one of the critical issues in the current world. In order to respond to this issue, organizations and businesses around the world seriously focus on environmental protection and management. In this sense, there is a need to explore and identify the sustainable environmental management practices which are actually practice by the organizations. Hence, this paper aims to report existing sustainable environmental management practices and to explore the implementation of environmental management practices in an apparel manufacturer in Sri Lanka. Secondary data were collected from the published sustainability reports of the selected organization for two consecutive years. Further, the researchers employed the observation method to confirm whether this company is really carrying out the environmental practices which were reported in their sustainability reports. The researchers identified several sustainable environmental management practices under the three main categories energy conservation, water conservation and earth conservation and confirms that the selected organization were really carrying out environmental management practices. This study provides insight to understanding environmental management practices of an organization.