IPRC - 2015
Permanent URI for this collectionhttp://repository.kln.ac.lk/handle/123456789/156
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Item Model to assess factors influencing performance of customer orientated supply chains: The manufacturing firms‟ perspective(Faculty of Graduate Studies, University of Kelaniya, 2015) Peter, S.; Thilakarathna, R.H.The dynamic external macro environmental changes that are happening have a major impact on businesses around the world. Businesses which were cocooned and protected from outside forces due to protectionist policies were accustomed to dealing with and managing competition at the industry level and firm level. However, opening up of markets to worldwide competition has made even these internal rivalries more intense. It‘s a well-known fact that today it‘s not just a competition at firm level, but it has expanded to a level where it has become a competition between supply chains. In this sort of a context being customer oriented and embedding customer values in the supply chain environment becomes highly important to make the supply chain more appealing to customers amidst these varying conditions which they do not control. The relationship between customer oriented practices and supply chain performance is an intriguing relationship which is now becoming a focus of research. This paper outlines a framework that could be used to identify the impact of factors influencing the relationship between customer orientated supply chains and supply chain performance. Past literature on this relationship was analyzed and several existing models by various authors were identified. These models were later used as the basis and other factors influencing this relationship which were studied separately, were collated into the base model to make the model comprehensive. These included organizational learning, supply chain practices, interactive infrastructure, innovation in supply chains, and supply chain capabilities. Expert opinion was used in the process of refining the proposed model. The framework conceptualized through the study could be used to assess supply chain performance and key variables impacting on the relationship between customer orientated supply chains and supply chain performance.Item Microfinance and poverty alleviation: Case of the Northern Province in Sri Lanka(Faculty of Graduate Studies, University of Kelaniya, 2015) Sivatheepan, B.; Peter, S.The paper evaluates the impact of microfinance on poverty alleviation in the Northern Province of Sri Lanka. After being the central area of conflict over the last three decades, the cessation of hostilities has provided the residents of the province the opportunity to rebuild their lives and recommence their economic livelihood. Since many residents have limited access to funds, the microfinance product has become a key component in the revival of the economy in the region. Data was collected and analyzed in 2013, through a structured questionnaire, from all five districts in the Northern Province where microfinance is offered by banks and a large number of private financial institutions all competing to offer the product as the returns and risk on the product are deemed very attractive. The conceptual model associates beneficiaries‘ income and living standards with the key dimensions of the microfinance product which include interest cost, credit availability and the credit appraisal process. An econometric methodology using the ANOVA model was used to assess the data. The results of empirical analysis indicate a positive relationship between microfinance and poverty alleviation in the period under study. Awareness levels of the population on the micro finance product were extremely high. However, a lack of an integrated credit appraisal system and competition among vendors to attract customers has provided an enabling environment for possible misuse of the product. Access to low cost funding and high interest rates has made the product very attractive even for the more established financial institutions, though the objective of using the product to alleviate poverty has got blurred. The results are similar to what was found in Bangladesh, where it was found that microfinance not only contributes to alleviating poverty, but also contributes to overall human development in the country. However, the results are contrary to what was observed in Indonesia, where it was found that the impact of micro finance on various household outcomes is generally insignificant.Item Impact of Customer Orientation Practices in Supply Chain, on Supply Chain Performance(Faculty of Graduate Studies, University of Kelaniya, 2015) Peter, S.; Heiyantuduwa, M.The study presents a conceptual model that links customer orientation practices and supply chain performance. Rising competitiveness has motivated businesses to seek innovative and effective methods to build competitiveness across all value enhancing activities of its operations. Recent research have highlighted that ―Companies do not compete; supply chains do‖, leading the companies to seek means of achieving sustainable business success through collaborative supply chains. Further, identifying and satisfying, or rather going beyond satisfying customers‘ expectations is essential for sustaining business performance. Linking these two important notions; supply chain focus and customer orientation, this study presents a model that enables assessing how the use of customer orientation practices, affects supply chain performance. Several models on customer orientation and on supply chain performance measurement were analyzed and subsequently combined and adjusted to suit the specific requirement. Expert opinion was used in the process of refining the proposed model. The presented model categorizes customer orientation practices in supply chain in to three main categories as information sharing practices, operational practices and customer service practices. Under each of these there are several sub categories of practices defined. This multi-tier categorization allows specifically identifying which type of practices impacts the most or least on supply chain performance in the context of a particular supply chain, or a particular industry. Hence the use of the model is twofold, as it enables ascertaining if there is a significant impact of using customer orientation practices, on supply chain performance in a certain firm or industry, as well as identifying best practices of customer orientation in that context. Therefore it is capable of providing guidance in implementing customer orientation practices in supply chains, and thus effectively enhancing supply chain performance.Item Ex-Dividend Day Stock Price Behaviour - Evidence from Colombo Stock Exchange(Faculty of Graduate Studies, University of Kelaniya, 2015) Karunaratne, P.; Peter, S.Efficient market is one in which prices fully reflect available information. Implication of an efficient market is that no excess returns can be made since current prices already reflect all available information. Recent research supports the hypothesis that CSE is not a semi-strong market and as a result there is a possibility for investors to make abnormal gains. The objectives of this paper was to identify ex-dividend price behaviour of stocks at the CSE and to identify suitable trading strategies around ex-dividend day to exploit this anomaly. A sample of 85 listed companies‘ with 470 ex-dividend events were selected covering the period January 2003 to December 2012. Relative Liquidity Ratio (RLR) was used to divide the sample into two groups to control for liquidity. Initially the stock price behaviour on exdividend day was examined using Raw Price Ratio (RPR), Raw Price Drop Ratio (RPDR) and Market Adjusted Price Drop Ratio (MAPDR). Thereafter, the event study methodology was used to examine the abnormal returns and abnormal volumes on and around ex-dividend day using the market model, mean adjusted returns model and market adjusted returns model. The findings from RPR, RPDR and MAPDR implied that the stock prices drop by less than dividend on the ex-dividend day. The results from the event study implied significant positive abnormal returns and volumes on and around ex-dividend day. This finding is consistent with the short term trading hypothesis, but could not be explained by the taxation hypothesis. Further, the results indicated that for the liquid stocks there are significant negative abnormal returns on cum-dividend day followed by significant positive abnormal returns on exdividend day. For the least liquid stocks there are significant positive abnormal returns on exdividend day followed by significant negative abnormal returns on the following day. These results also confirm that the CSE is not information efficient and investors have the opportunity to make unusual gains by trading around ex-dividend day.Item Board Independence and Corporate Performance(Faculty of Graduate Studies, University of Kelaniya, 2015) Peter, S.The large number of dramatic corporate collapses around the world over the last decade, focused attention on the importance of corporate governance to the long term success of a firm. The separation of ownership from management raises a key issue of how to effectively monitor managers to ensure that they act in the best interest of the shareholders and other stakeholders as well. The role of independent directors in improving the effectiveness of control has been the subject of debate in academic literature, especially in the context of a culture of poor corporate governance. The study explores this issue, paying particular attention on the relationship between corporate board independence and firms‘ financial performance in Sri Lanka. Using data obtained from Colombo Stock Exchange for the period 2004 through 2009, a sample consisting of fifty non-financial firms were used to assess board independence and their possible effects on firm performance. Data was gathered through published reports and a primary survey. Independence of the board was deconstructed to board composition as measured by proportion of independent directors and proportion of non-executive directors, and board leadership structure as measured by CEO non duality. The firm performance was measured using both financial and market performance indicators. After controlling for industry, firm size and changes in leadership structure, the results indicate support for stewardship perspective, with no convincing evidence to indicate that inclusion of independent directors is associated with improved financial performance. The weak governance structure which could be exemplified by ownership entrenchment, cross sitting of board members and lack of cumulative voting may explain the lack of evidence found. However, the results indicate that inclusion of independent directors is valued by investors and reflected in enhanced firm value.