ICARE 2022
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Item A qualitative study of data security & data privacy challenges faced by listed companies in Sri Lanka(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Nivetha, S.; Gunasekara, U.L.T.P.This is a data-driven world and surprisingly data has become the new commodity of the age. Similar to oil in the 18th century, data is a tremendously untapped valuable resource in the modern digital age. Digital protection is becoming just as crucial as physical protection. Since security, privacy and data are all interrelated, it needs more security and privacy to ensure the safety of its stakeholders both online and offline. Protecting the data, from internal and external corruption and unauthorized access is challenging. Accordingly, this qualitative study targets to address this need for data protection and data confidentiality by identifying the data security & data privacy threats faced by listed companies in Sri Lanka. This study intended to specifically address three questions 1. What are the data security and privacy concerns which are likely to be faced in practice? 2. What are the possible effects of cyber threats? 3. How do Information and Cyber Security infrastructures fight against these invisible enemies on the digital battlefield? Data for this study has been collected through in-depth interviews with 11 IT professionals using a semi-structured interview guide. Thematic analysis has drawn 3 themes that are directed to identify 20 data security and privacy concerns. Sri Lankan companies are encountering an increasing number of data breaches, Ransomware attacks, phishing scams, viruses, and other threats as a growing remote workforce has posed additional challenges to the safety of confidential information where Data Privacy is also being affected simultaneously.Item The impact of bank internal factors on the profitability of commercial banks in Sri Lanka: with special reference to the selected listed commercial banks in Sri Lanka(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Sanjeewani, K.L.M.; Gunasekara, U.L.T.P.The banking sector is considered as one of the most vital sectors for the national economy, as it is considered a lifeline for the state's economic activity through the mediating role it plays in collecting deposits from individuals and companies that own money and providing loans to the government, companies, and individuals that need these funds. Maximizing profits in commercial banks is restricted by many considerations. Maintaining sufficient liquidity and striving for the safe use of funds, ensuring the rights of depositors, and avoiding many risks limit the commercial bank's ability to maximize profits. The aim of this study is to examine what extent bank internal factors impact on the profitability of commercial banks in Sri Lanka. Capital adequacy, Operating cost efficiency, Non-performing loans, Bank size, Liquidity, Assets Quality and Managerial efficiency are considered as bank internal factors while Return on assets is considered as a profitability measure of this study. Panel data has been collected from published financial statements of ten commercial banks listed on the Colombo Stock Exchange (CSE) for the period of ten years from 2015 to 2019. Fixed effect and random effect models are performed to investigate the best model to evaluate the impact of bank internal factors on profitability. The results of the study reveal that the random effect model is the best model using the Hausman specification test. As per the random effect model, capital adequacy has a positive and significant impact on profitability while non-performing loans and operating cost efficiency have a negative and significant influence on profitability. The rest of the selected variables such as bank size, liquidity, assets quality and managerial efficiency don't have any significant impact on the profitability of commercial banks in Sri Lanka. The finding of this study provides information to present and future investors for making the best decision on which internal factors should be well analyzed when they make investments on the banking sector in Sri Lanka.Item Impact of board characteristics on bank performance: evidence from commercial banks listed in CSE(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Saliya, S.G.D.T.; Gunasekara, U.L.T.P.This study aims to determine the Impact of Board Structure on the Performance of Commercial Banks listed on the Colombo Stock Exchange. To get efficient Performance through the best corporate governance the full list of licensed commercial banks listed in CSE was selected as the sample. The data is collected from 2012 to 2021 from the annual reports, audited financial statements, websites & CSE websites. They are all secondary data sources. This study uses the company's performance based on the following financial performance measures: return on assets (ROA) and return on equity (ROE) and board structure consisting of board size, board independence, executive directors, board meetings, gender diversity and advanced education of the board. Bank asset size and bank age were used as the control variables in this study. Many of the studies discovered how board characteristics impact firm performance, but very few studies were done for the banking sector in Sri Lanka. The regression modelling was done for identifying the relationships between board characteristics and bank financial performance. The study's findings suggest that the frequency of board meetings, gender, advanced education and board independence have a positive substantial influence on ROE & ROA. And board size has a negative substantial influence on ROE & ROA. But there is no significant relationship between the size of the board and bank performance. Additionally, the asset size of the bank and the age of the bank have a positive and significant impact on ROA & ROE. This study contributes to the literature on corporate governance and bank performance by providing the framework that affects the relationship between board structure and bank performance in the context of listed commercial banks. The findings of the study are important for policymakers, investors, regulators, and other bankers of the country. Commercial banks would put more attention on the structure and quality of the board to improve their performanceItem A study of perception on the internship of undergraduate: a quantitative analysis of expectation gap(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Madushanka, W.E.P.; Gunasekara, U.L.T.P.An internship program is an important component of an academic curriculum in higher learning institutions for accounting disciplines. The objective of this empirical study is to evaluate the perceptions of undergraduates on the internship program of the Department of Accountancy, University of Kelaniya and to identify whether an expectation gap exists in relation to the internship program from different dimensions (i.e. Internship course unit, Internship provider, Financial compensation, Personal skills, Managerial decision-making skills, Finance and accounting related skills, Future career and Job marketability, Academic participation and performance, Knowledge, attitudes, theoretical application, Moral responsibilities and life-long learning. The study is an empirical study with a quantitative approach using survey data collected through self-completion questionnaires. A systematic literature review was conducted in the research arena without placing a time restriction. Even though the undergraduates positively (above average) perceive the internship program, an expectation gap exists in every dimension, which is significantly based on the t-tests and One-way ANOVA analyses. The regression results indicated that there is a significant association between finance and accounting-related skills and job marketability and future career and overall satisfaction of undergraduates regarding the internship program. In the local context, it is observed that there is a lack of research related to internship programs in academic degree programs and this study is expected to fill such research gaps. Further, this study will assist to improve the internship programs of, the University of Kelaniya and internship programs in other contextsItem The impact of stock market development on economic growth in Sri Lanka(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Jayathilaka, J.A.M.G.; Gunasekara, U.L.T.P.A country's economic vitality has traditionally depended heavily on the financial markets. This study's goal is to investigate the empirical relationship between Sri Lanka's stock market development and economic growth. Economic growth is assessed by GDP growth, while the stock market development is assessed by the market capitalization ratio, stock value traded ratio, and foreign direct investment ratio. It was assumed that Inflation can play the role of a control variable. This study used annual time series data for the period from 2001 to 2020. The study collects secondary data from the annual reports of the Colombo Stock Exchange (CSE) and the Central Bank of Sri Lanka. Multiple regression analysis with a cointegration test and vector error correction model (VECM) were used to analyze the data. The study identified important aspects of long-term relationships between these variables from 2001-2020. Cointegration tests show there is a strong positive relationship between stock market development and economic growth in the short run. The results of VECM show a significant effect on economic growth in the long run. The result of this study concludes that stock market development is driving economic growth in Sri Lanka. The study would fill the conceptual gap in this field by finding that Stock market development aids economic long-term growth. There are significant implications for Sri Lanka's economic policymakers and government.Item The impact of cash conversion cycle on firms’ profitability: a study of food, beverage and tobacco companies listed in CSE(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Imanjalee, I.H.; Gunasekara, U.L.T.P.One of the most popular metrics for assessing and measuring the risks and returns related to liquidity management is the cash conversion cycle (CCC). Every business organization must keep an eye on the elements affecting profitability because they are all highly concerned with how to maintain and increase profitability. The objective of this study is to empirically find the effect of the cash conversion cycle on the corporate profitability of the Food beverage & Tobacco companies listed in CSE. The profitability was measured in terms of Return on Equity (ROE) and Return on Assets (ROA). The CCC was determined by the Inventory Conversion Period (ICP), Debtor Conversion Period (DCP), and Payable Conversion Period (PCP). Analyzing a sample of 20 randomly drawn companies listed in Colombo Stock Exchange (CSE) in Food beverage & Tobacco companies over ten years from 2012 to 2021. This research is using secondary data. Data are gathered from the published annual report of the companies on CSE website. The influence and association between CCC and profitability were estimated in this study using statistical methods of regression and correlation.Item Determinants of customer satisfaction for online shopping(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Dilshan, H.Y.D.; Gunasekara, U.L.T.P.With the development of the Internet infrastructure, online shopping is becoming a regular shopping behaviour around the world. Therefore, there is a need of investigating how customers experience this new mode of shopping. Customer satisfaction with online shopping is dependent on several factors. Since the COVID-19 pandemic, there has been a tremendous intensification towards online shopping, making customer satisfaction a significant catalyst for online businesses, and it serves as an indicator to manage and improve business performance. This study examined the determinants that could influence online shopping satisfaction by taking a sample of university students. However, consumer satisfaction depends on what the consumer expects from shopping online: information, convenience, low cost, and time, or the availability of products and services. This study aimed to explore the antecedents that influence online customer satisfaction. Convenience sampling was used to gather data from individuals who were conveniently available to take part in the study. A total of 103 questionnaires were handed over to respondents. All the data that are obtained, along with the factors, are analysed and interpreted by different statistical techniques using SPSS version 24. This study utilised descriptive and multiple regression analysis to test the seven hypotheses. Customer satisfaction has been identified as an important phenomenon in relation to online shopping. The investigation of what causes customer satisfaction has become paramount for the further improvement of online businesses.Item The impact of corporate governance on the financial distress evidence from listed nonfinancial companies in Sri Lanka(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) De Silva, S.R.; Gunasekara, U.L.T.P.Corporate governance (CG) is the relationships between corporate management, shareholders, boards, and other stakeholders. This relationship influences how the objectives of a business are set and achieved, how risks are monitored and assessed, and how internal performance is optimized. Finally, it signals that the organization is well-managed and that the interests of management are aligned with external stakeholders. The role of CG in times of financial difficulty is examined in this study to complement and contribute to the existing literature since many studies showed diverse findings. The objective of this study is to determine how corporate governance characteristics affect the financial distress of non-financial listed companies in Sri Lanka. The study considered 50 listed companies as the sample over the period of fifteen years starting from 2007 to 2021. Block holder ownership, board independence, CEO duality and Audit quality measure the CG while the Alman Z score model measures the financial distress. The results concluded that good CG characteristics lead to better financial status with a reduced likelihood of financial distress. In particular, the result shows a significant negative impact of block holders on financial distress because monopolistic decisions are made by block ownership to further their interests. Audit quality plays a significant negative impact on the likelihood of financial distress, While the board independence and the CEO duality both had a positive and significant impact on the likelihood of financial distress. The results of this study give business managers and investors greater knowledge in formulating CG policies and predictions of future financial distress. Additionally, this study benefits in developing long-term corporate governance strategies for dealing with financial distress.Item Impact of the advancement of accounting software on the accounting practices: a qualitative study(Aasik I.M.; Gunasekara U.L.T.P. (2022), Impact of the advancement of accounting software on the accounting practices: a qualitative study, 8th International Conference Accounting Researchers & Educators (ICARE 2022), Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka. 86., 2022) Aasik, I.M.; Gunasekara, U.L.T.P.This study is to investigate and explore the impact of the advancement of accounting software on the accounting practices of Sri Lankan firms. The goal of this study is to demonstrate the evaluation of accounting software and obtain an understanding of the importance of using an Accounting Information System (AIS) derived from Accounting Software (AS) to achieve performance. Several characteristics such as efficiency, reliability, ease of use, data quality and accuracy influenced the use of Accounting Information Systems, thereby affecting the performance of firms. The result of this study shows that these Accounting Information System characteristics possessed by accounting information such as efficiency, reliability, ease of use, data quality and accuracy have significant effects on the use of AIS and a firm’s performance. Previous research has shown that it is crucial for firms to use Accounting Information Systems to ensure the survival and sustainability of business in the increasingly competitive environment besides enhancing their business operations competency and efficiency. This study is one of few that could shed light on how the evaluation of accounting software affects the performance of firms. This study proposes the dimensions of using an Accounting Information System that is important for improving the performance of business organizations.