South Asian Journal of Finance

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Author: search.filters.author.Pathirawasam, C.

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    Stock Market Investing Intention Among Youth in Colombo District, Sri Lanka
    (Department of Finance, University of Kelaniya., 2024) Faiz, S.; Pathirawasam, C.
    Purpose: This study explores the investment interest of 20-29-year-old youth in Colombo District, Sri Lanka, specifically examining the influence of Psychological Behavior, Financial Literacy, Cost of Living, and Financial Risk Attitude on their propensity to invest in the stock market. Design/ Methodology Approach: Data was gathered through an online survey, yielding 297 valid responses after excluding outliers. The relationships between variables were analyzed using multiple regression. Findings: The results reveal that cost of living and psychological behavior significantly impact youth interest in stock market investment. At the same time, financial literacy and financial risk attitude show no significant influence on their investment decisions. Originality: This study offers a unique evaluation of factors affecting youth interest in stock market investment in Sri Lanka, addressing the low participation rate among this demographic. Practical Implications: The findings provide valuable insights for government agencies, investment firms, and policymakers, helping them understand the determinants of youth investment interest. This knowledge can inform the development of strategies to enhance youth engagement in the stock market, contributing to economic growth and national development.
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    Board Characteristics and Intellectual Capital Disclosures: Evidence from Sri Lanka
    (Department of Finance, University of Kelaniya., 2021) Chandraratne, K. A. D. P. M.; Pathirawasam, C.; Mohamed, M. S.
    Purpose: The purpose of this study is two-fold. First, to examine the state of intellectual capital disclosures. Second, to investigate the relationship between board characteristics and intellectual capital disclosures. Design: This study selected thirty non-financial listed companies with the highest market capitalization from the Colombo Stock Exchange in Sri Lanka. An intellectual capital disclosure index comprising 61 items was developed to understand the level of intellectual capital disclosure in the selected companies. Panel data analysis techniques were applied to test the proposed hypotheses. Findings: Results indicated that role duality and proportion of female directors have a significant and positive impact on intellectual capital disclosures. Firm leverage was found to have a significant and negative effect on intellectual capital disclosures. Insufficient empirical evidence between other corporate board characteristics and intellectual capital disclosure in Sri Lanka may be attributed to a non-mandatory corporate disclosure environment. Originality: This is among the few studies to examine the link between corporate governance and intellectual capital disclosures employing panel data in Sri Lanka. However, a discourse on the role of corporate governance and corporate disclosures is warranted in a small island developing economy with a fragile financial system like Sri Lanka. Future Research Directions – The study calls for more studies to investigate the relationship between corporate governance and intellectual capital disclosures in the case of Sri Lanka by employing data from different industries for longer periods.