Students’ Research Symposium - Department of Finance (SRS-DFIN)

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Assessing Financial Literacy Among Undergraduates of University of Kelaniya
(Department of Finance Faculty of Commerce and Management Studies University of Kelaniya, 2020) Samarasekara, M. A. G. I.; Abeysekera, R.
The purpose of this article is to analyse the level of financial literacy among university students at the University of Kelaniya. The study focuses on how demographic factors such as age, gender, faculty, year of study and income level affect undergraduates' financial literacy levels and whether there is a correlation between financial knowledge and demographic factors. To achieve the research objectives, the researcher collected data from 400 university students representing all faculties and years. This research used a stratified random sampling technique. Questionnaires were used as the primary sources of data collection methodology in this study. Descriptive Statistics, independent sample T-Test, ANOVA test and Probit regression were used for data analysis, and SPSS software was used as statistical software to analyse the survey data. The overall mean percentage of a correct score for the survey is 60.29%, indicating that the level of financial literacy of students at the University of Kelaniya is medium. The hypotheses test revealed that three factors, including gender, faculty, and income level, significantly affect the financial literacy level. According to the findings of the ANOVA test, there is a significant difference between financial literacy and age, gender, faculty and income level. Further, there is no significant difference between the financial literacy and the year of the respondent. This study fills the current research gap in financial literacy. The findings demonstrate the need for financial literacy education. Mainly researcher has concluded the level of financial literacy of students at the University of Kelaniya is moderate. Finally, the researcher recommends some recommendation to increase the level of financial literacy of undergraduates and recommends future researchers to overcome existing limitations and expand these studies to a variety of areas.
Barriers in Progressing Micro Insurance Scheme in Self Employment: With Special Reference to North Central Province
(Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2021) Senanayake, S.D.L.; Abeysekera, R.
Introduction: The primary goal of this research is to identify the major barriers or variables that influence the implementation of microinsurance schemes in the north-central province, with a focus on the self-employment sector. Design/Methodology/Approach: Based on the literature review, the conceptual framework was formulated with independent variables and a dependent variable. Independent variables selected for the study are willing to pay, trust in insurance, accessibility, simplicity and flexibility. The dependent variable is the implementation of microinsurance. Questionnaires were distributed to collect data in two districts of Northcentral Province. The study followed the simple random sampling method for data collection. The sample size was 140. Descriptive statistics and linear regression models were used for data analysis and SPSS was used as statistical software to analyse the data. Finding: According to the findings willingness to pay and trust in insurance significantly influence the implementation of microinsurance. Conclusion: This research help develop microinsurance programmes in Sri Lanka which are not developed at the moment.
Effect of Financial Literacy on Firm’s Performance of Micro-Enterprises in Sri Lanka (With Special Reference to Gampaha District)
(Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2021) Madhushani, J.M.N.; Abeysekera, R.
Introduction: The purpose of this study is to determine the relationship between financial literacy and the firm’s performance of micro-enterprises. This study focused on how financial literacy factors such as financial knowledge, financial behaviour and financial attitude affect the firm’s performance of micro-enterprises in Sri Lanka. Design/Methodology/Approach: The quantitative approach was used to carry out the research and data were collected from 150 micro-enterprises located in the Gampaha District. In this study, the main source of the data gathering approach was questionnaires. Descriptive statistics, independent sample T-test, ANOVA test, and multiple regression were used to analyze the survey data using the SPSS software. Findings: The study findings demonstrate that financial knowledge, financial behaviour and financial attitude significantly impact the firm’s performance of the micro-enterprises. The study's adjusted R square is 84.4 per cent which indicates that the financial literacy elements in this study explain 84.4 per cent of financial literacy on a firm’s performance. Conclusion: According to the research findings, financial literacy has a bigger impact on microenterprises’ performance. As a result, the researcher proposes that the efforts be expanded to offer micro-entrepreneurs a higher degree of financial literacy through training and skill development.
Examining The Barriers to The Microfinance Sector: Evidence from Padukka Division Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Hansani, W.A.; Abeysekera, R.
Purpose: Microfinance Institutions (MFIs) provide services to low-income people to alleviate poverty. MFIs face barriers when reaching out to clients. This research aims to examine the barriers to the microfinance sector in the Padukka division of Sri Lanka. Design/Methodology/Approach: The study used the multiple case study method. Four MFIs were selected for the study. Data were gathered by conducting 12 in-depth interviews of managers, officers, and clients from selected MFIs. The data were analysed by using crosscase analysis and pattern matching. Findings: Supply-side and demand-side barriers were identified. Supply-side barriers are Deposit side barriers, loan-side barriers, and lack of knowledge, Demand-side barriers are lack of knowledge, non-membership, and economic barriers. Originality: The findings contribute to the microfinance domain, and the practitioners could implement the recommendations.
Exploring the Effectiveness of Microfinance in Promoting Microenterprises Growth – Special Reference with Gampaha District
(Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2021) Wickramasinghe, W.A.M.N.; Abeysekera, R.
Introduction: Access to microfinance is necessary to create an economic environment that enables Micro-Enterprises to grow and prosper. Therefore, the researcher wants to find out the factors that would contribute to this. This research study explores the effectiveness of microfinance in promoting microenterprises growth from the Gampaha District evidence. Design/Methodology/Approach: The researcher has purposively selected four microfinance institutions in Gampaha, and data were gathered based on the twelve in-depth interviews through a semi-structured questionnaire. Findings: The findings reveal that Microfinance Institutions (MFIs) provide microcredit to existing businesses rather than start-ups. Further, they provide mainly financial services overlooking non-financial services. Moreover, they prefer to use individual lending over group lending. MFIs use business expansions, income and profitability, employability and asset growth as the yardsticks to measure the effectiveness of microfinance programmes. Conclusion: The findings will help the development of microfinance institutions and achieve microenterprises owners’ objectives
Factors and Challenges Affecting the Success of Women Entrepreneurship; A Study in Bakery Products Industry in Northwestern Province of Sri Lanka
(Department of Finance, Faculty of Commerce and Management Studies University of Kelaniya Sri Lanka, 2024) Mudalige, M.B.N.; Abeysekera, R.
Introduction: It is frequently recognized that economic growth and wealth are dependent on entrepreneurship and that the number of women entrepreneurs worldwide has significantly increased. The modern world views entrepreneurship as a potent force that promotes productivity, job creation, and economic expansion. This study aims to determine the critical elements and obstacles that impact the performance of female entrepreneurs in Sri Lanka and their ability to manage their businesses and to provide recommendations for the most effective course of action. The primary goal of this study is to identify and analyse the variables and obstacles that could affect how well women entrepreneurs succeed. Methodology: This research followed the social constructivism philosophy to examine the real, and this research is conducted as qualitative research in which data, words, images or objects were collected through the methods of interviews, field notes and participant observations in the evaluations. Also, this study is also associated with the inductive approach. In this research, I used the purposive sampling method. The population is Sri Lankan women business owners who have been active in the bakery products industry in the northwestern province of Sri Lanka for over three years. I identified 10 Sri Lankan women business owners active in the Bakery products industry in the northwestern province of Sri Lanka as a sample. The data collection method is conducting interviews. I could identify four main success factors as main themes, and the findings of challenges are detailed as 20 sub-themes from the interviews conducted. Conclusion: This study goes a step further and explains the factors that influence the success or failure of women entrepreneurs. Hence, it will help women entrepreneurs across Sri Lanka and all stakeholders, like the government, customers, employees, and investors, to make appropriate decisions.
Factors and Challenges Affecting the Success of Women Entrepreneurship; A Study in Salon Industry in Kurunegala District of Sri Lanka
(Department of Finance, Faculty of Commerce and Management Studies University of Kelaniya Sri Lanka, 2024) Dissanayake, D.M.K.L.; Abeysekera, R.
Introduction: Women’s entrepreneurship in Sri Lanka grapples with persistent challenges, stemming from intertwined issues that have impeded historical progress. This study aimed to discover the factors and challenges faced by women entrepreneurs in the salon industry in the Kurunegala district. Methodology: Qualitative methods were used to collect data from interviews with women entrepreneurs in the salon industry. The findings show that a significant obstacle is the limited financial capability of women entrepreneurs, constraining their capacity to invest, expand, and compete effectively. Findings: Insufficient governmental and regulatory frameworks exacerbate these challenges, as a lack of robust support structures hampers the growth and sustainability of women-led enterprises. The need for more reliable evidence and data is a key contributing factor to these impediments. The absence of comprehensive information, often influenced by societal rules and customs, complicates the development of targeted policies and initiatives addressing the specific needs of women entrepreneurs. More accurate data is needed to ensure the formulation of informed strategies to uplift and empower women in business. The nation's status further compounds the challenges women entrepreneurs face in Sri Lanka as a developing country. Women managing small and medium-sized enterprises (SMEs) confront a complex interplay of financial constraints, regulatory limitations, and a need for more reliable data. This underscores the urgent need for comprehensive and tailored interventions to address these unique challenges. Conclusion: Bolstering women's entrepreneurship in Sri Lanka requires initiatives encompassing targeted financial support, reforms in governmental and regulatory frameworks, and the generation of reliable data reflecting diverse rules and customs in business environments. By addressing these challenges directly, Sri Lanka can create an environment conducive to the success and sustainability of women-led businesses, contributing to individual economic empowerment and broader societal development.
The Impact of Micro-Financial Support on The Growth of SMEs (With Special Reference to Rathnapura District)
(Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2021) Ariyasena, M.T.N.; Abeysekera, R.
Introduction: The main objective of the study was to examine the impact of micro-financial support on the growth and development of SMEs. Design/Methodology/Approach: In this study, the researcher used a quantitative approach. The primary data were collected by using structured questionnaires and 140 SME holders in Rathnapura District were used as the sample. Financing of SMEs, financial literacy skills, development of management skills and marketing facilitation were chosen as the independent variables and growth and development of SMEs was the dependent variable for the study. Descriptive Statistics, Correlation and Regression Analysis were used to analyze the collected data. Findings: Based on the regression analysis result, it can be concluded that there is no significant impact of financing of SMEs and marketing facilitation on the Growth and development of SMEs. Further, there is a positive significant impact of financial literacy and development of management skills on the Growth and development of SMEs. Conclusion: Microfinance institutions should organize seminars and workshops to train SMEs on financial literacy and managerial skills.
The Impact of Microfinance on Poverty Alleviation (With Special Reference to Kaluthara District)
(Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2021) Hansani, R.A.M.; Abeysekera, R.
Introduction: The purpose of this study is to analyse the impact of microfinance on poverty alleviation in the Kalutara district. The study focussed on how loan facility, Saving Facility, Member’s ability and training affect poverty alleviation. Design/Methodology/Approach: To achieve the research objectives, the researcher collected data from 150 customers of microfinance institutes in the Kalutara district. This study used the stratified random sampling technique. Questionnaires were used as the main source of the data collection method in this study. Descriptive Statistics, independent sample T-Test, and ANOVA test were used for data analysis and SPSS was used as statistical software to analyse the survey data. Findings: The findings revealed that factors including loan facility, Saving facility, and Training affect poverty alleviation. Conclusion: This study fills empirical and practical gaps. Microfinance institutions must concentrate on loan facilities, saving facilities, and training to alleviate poverty.
The Impact of Service Quality on Customer Loyalty in Sri Lankan Banking Sector with The Mediation Role of Customer Satisfaction
(Department of Finance Faculty of Commerce and Management Studies University of Kelaniya, 2020) Punsala, A. A. D. D.; Abeysekera, R.
Introduction - This study empirically examined the impact of service quality on customer loyalty in the Sri Lankan banking sector with the mediation role of customer satisfaction. At first, this research focuses on the relationship between service quality in terms of human aspects, tangible aspects and technical aspects between customer satisfaction. Then, it draws attention to the mediation effect of customer satisfaction between service quality and customer loyalty. Design/Methodology/Approach - Positivism was used as the research philosophy, while the deductive method was the research logic and the quantitative method as the research approach. A cross-sectional survey of 112 banking customers was conducted in the Sri Lankan context in order to gather the data. The questionnaire has included Likert type structured questions. Sample customers were selected from nine major banks according to the stratified proportionate random sampling technique based on the market share of selected nine banks. Pearson correlation analysis and regression analysis have used for the analysis. Furthermore, the Hayes test was conducted to test the mediation effect of customer satisfaction. Findings - The results indicate that the service quality dimensions have a positive direct effect on customer satisfaction, and the most influential factor is the human aspects of service quality. It was also found that customer satisfaction mediates the effect of service quality on customer loyalty. Conclusion - The overall model is statistically significant. The final result emphasizes that there is a positive relationship between service quality, customer satisfaction and customer loyalty in the Sri Lankan banking sector, while customer satisfaction mediates the relationship between service quality and customer loyalty. Contribution -The findings of the research give some important implications to bank managers and employees in making decisions, especially in creating the marketing mix, marketing strategies and the year plans.
Impact of Service Quality on Customer Satisfaction with Special Reference to Mobile Telecommunication Industry of Sri Lanka
(Department of Finance, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2020) Muthubanda, I.M.; Abeysekera, R.
Purpose – Service quality is crucial for every business organization as it allows companies to differentiate themselves from their competitors and enhance the satisfaction of their customers. The study attempts to examine the impact of service quality on customer satisfaction with special reference to the Mobile Telecommunication Industry of Sri Lanka. Design/Methodology/Approach- A survey was conducted for data collection through a structured questionnaire distributed to the customers of four main mobile service providers. The study followed the random stratified proportional sampling method to collect data. Descriptive Statistics, Cronbach's alpha, Multicollinearity Test, Pearson's Correlation and Multiple Linear Regression were used for data analysis. Findings - The study found a positive and significant relationship of network quality, Assurance and Reliability with customer satisfaction. However, Responsiveness, Empathy and Convenience do not have a significant relationship to customer satisfaction of Sri Lankan mobile telecommunication industry. Contribution - The study fulfils the existing research gap in service quality and customer satisfaction of the mobile telecommunication industry of Sri Lanka. The findings of this study will help the management of mobile service providers to plan their future strategies and enables future researchers to conduct studies related to this area.
Investigating the Impact of Financial Literacy on the Performance of Micro Enterprises in Gampaha district, Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Fernando, B.R.M.; Abeysekera, R.
Purpose: The micro-enterprise sector continues to be a fundamental inducement for job creation and economic growth in Sri Lanka. About 80 per cent of the economy is provided by the small-scale sector, which shows the importance of harnessing its potential in developing the Sri Lankan economy. It has been established that financial literacy significantly influences whether or not small-scale enterprises succeed. Yet, the exact effect of financial literacy on small-scale enterprise performance has to be fully identified in Sri Lanka, hence the need for the present study. This research study examines the effect of financial literacy (awareness, attitude and knowledge) of managers on the performance of micro enterprises in the Gampaha District, Sri Lanka. Design/Methodology/Approach: Primary data were obtained from micro scale-enterprise managers through structured questionnaires. The data were analysed using Multiple Regression Analysis. Findings: The results revealed a significant effect of financial literacy on firm performance (both financial and non-financial performance). Also, all four financial literacy components (knowledge, behaviour, attitude, and skill) significantly positively affect financial and nonfinancial performance. Originality: This study fills empirical and practice gaps.
Perception of Online Banking Customers in Sri Lanka: With Special Reference to the Commercial Banks in Sri Lanka
(Department of Finance Faculty of Commerce and Management Studies University of Kelaniya, 2020) Appuhamy, K. H. I. S. M.; Abeysekera, R.
In the past few decades, technology has shown rapid growth, and consequently, the internet has become a significant technology component. Most individuals and businesses are paying attention to the technology and internet to make competitive advantages. Banking can be considered as a significant sector that uses this ever-advancing technology for its operations. Banks use internet banking to provide different services to their customers. As a result, internet banking has become a major channel that banks use to serve the customers via websites of the banks. The study aims to explore the factors that affect the customers' perception on internet banking in Sri Lanka and to determine the magnitudes of those factors. A well-structured questionnaire was used to collect the data which was considered as primary data. The researcher selected 212 customers with particular reference to the commercial banks in Sri Lanka using the convenience sampling method. To test the hypothetical relationships between dependent and independent variables, correlation and multiple regression were used using the SPSS software application. According to the study, results provided sufficient pieces of evidence that there is a significant positive impact on the customer perception towards internet banking by the independent variables of Accessibility, Bank Functions, and Cost Ease and of Use, while Awareness depicts a negative impact on customer perception on internet banking in Sri Lanka. Compared to the globe, in Sri Lanka, internet banking is at the primary stage performing only main banking activities such as checking account balances and transferring funds between accounts. Thus, improving the Awareness of the customers can be considered as a main target to be achieved by banks. The results of the study will be influential for banks to design their strategic marketing and promotional plans in order to expand their internet banking customer base. The study fulfils the existing research gap in the area of perception of internet banking customers in Sri Lanka. These findings will help for future studies relating to factors that affect customer perception towards internet banking in Sri Lanka
The Role of Microfinance Services on Women’s Empowerment in the Kotapola Division, Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Hettiarachchi, R.C.; Abeysekera, R.
Purpose: Women have always been the focus of microfinance because they are associated with lower socio-economic status. The microfinance industry works to empower women in reducing poverty and can, in turn, have a transformative impact on their families and communities. This study focuses on identifying factors that empower women in the Kotapola division. Methodology: The data were gathered from 100 women in the Kotapola area who obtained services from microfinance Institutions. Based on the literature review, 20 factors were used in the questionnaire to identify the most significant factors. Factor analysis was used to analyse the data. Findings: Seven factors significantly enhanced women empowerment in the Kotapola division. They are Poverty Reduction, Income Level, Consumption Level, Self-Satisfaction, Entrepreneurship skill, Social status and Decision Making. Originality: The study’s findings contribute to the microfinance knowledge domain.
A Study on Buying Behaviour of Long-Term Care Assurance with Special References to Middle-Income Earners in Sri Lanka
(Department of Finance Faculty of Commerce and Management Studies University of Kelaniya, 2020) Madhushika, K. P. D.; Abeysekera, R.
This study identifies buying behaviour of Life Assurance with special references to middle-income earners in Sri Lanka. This study aimed to identify factors that affect clients not purchasing Life assurance, how these factors influence the decision-making process and consumer's buying behaviour relevant to the Life assurance. This research was conducted using a qualitative research method by conducting semi-structured interviews. The sample was chosen using the purposive sampling method and it consists of seven participants who did not purchase life assurance, four life assurance policyholders and four Sales officers. Data were transcribed and analysed. The findings indicate that consumer awareness, government involvement, Expertise and agency expertise and finance literacy directly influenced people not to purchase life assurance product. Service quality, Ease of assurance procedures and communication barriers changed the decision-making process of life assurance, and Attitudes of clients with inactive participation from clients, negative feelings, Social influences, customer satisfaction and technology development directly affected buying behaviour of life assurance. The final results emphasize the need to change consumer attitudes, government involvement with compulsory rules, and improve service quality as recommendations.
What are the Factors Affecting the Loan Repayment of Microfinance Industry: A Case Study in Rathnapura District
(Department of Finance Faculty of Commerce and Management Studies University of Kelaniya, 2020) Wijesinghe, W. I. B.; Abeysekera, R.
Microfinance gives a solution for people who are excluded from a formal financial system. The typical idea of providing credit to lower-income people is to increase their income and enhance their necessity needs and thereby reduce poverty. Microfinance becomes a more productive tool for poverty alleviation. Microfinance Institutions (MFIs) provide microcredit (i.e. loans) to clients. Loan repayment is very important for the sustainability of MFIs. This research was used to study MFI and borrower factors that affect loan repayments. The researcher has purposively selected four microfinance institution in Sri Lanka and Data were gathered using sixteen in-depth interviews through a semi-structured questionnaire. Those collected data were transcribed and analysed. The study found income, expenses, family background, attitudes, information asymmetry, educational level, amount of loan borrowed, and economic instability affected the loan repayment from the borrower's side. Further, training programmes, grace period, lending policy, regulatory framework, interpersonal relationship and interest rate affected loan repayment from the MFI side. Further, the researcher has found barriers that affect both microfinance institution and borrowers in loan repayments, such as income, family support, group barriers, lack of collateral, financial instability and technology barriers, high competition and employee turnover. The study will help the development of microfinance institutions and achieve microfinance loan holder's objectives.
Women Entrepreneurship in Textile and Apparel Industry: Challenges and Success Factors in Colombo District
(Department of Finance, Faculty of Commerce and Management Studies University of Kelaniya Sri Lanka, 2024) Edirisinghe, E.A.L.S.; Abeysekera, R.
Introduction: According to the Upper echelons theory, this study explores the main success factors that influence the women entrepreneurs in the Textile and apparel industry in the Colombo District and the major challenges they face during their business journey. Methodology: The research shows what makes it hard for women to run businesses in this field and suggests ways to improve things. The study takes a qualitative-inductive approach, using semi-structured interviews with 12 women entrepreneurs who have more than 3 years of experience in the textile and apparel industry in the Colombo District. Findings :This paper highlights internal success factors such as the need for Independence and passion for forming a business, self-confidence and need for achievement, family and friends support, educational background and technology, and previous occupational experience and external factors such as socio-cultural Factors, government policies, exporting and international markets, participation in women's business networks and mentorship workshops, quality of the product & social media that influence women entrepreneurs in textile and apparel industry. Conclusion: Moreover, competition and adaptation to fashion trends, lack of business knowledge and technology, work-life balance, and COVID-19 impact were identified as challenges.