Symposia & Conferences
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Item Impact of Corporate Social Responsibility (CSR) on Brand Image of Banking Industry in Sri Lanka: with the Mediating Effect of Emotional Attachment(Department of Marketing Management, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2025) Kaluarachchi, K. A. S. S.; Weerasiri, R. A. S.This study explores the impact of corporate social responsibility (CSR) on brand image in the Sri Lankan banking sector, with emotional attachment as a mediating factor. It addresses significant empirical and practical gaps by focusing on the limited understanding of this research context. While existing studies often emphasize the dimensions of CSR – such as economic, legal, ethical, and philanthropic responsibilities, but they tend to ignore the emotional and environmental aspects, which are increasingly important in today’s competitive marketplace. Despite the recognized importance of CSR, there is a lack of comprehensive research on its impact on brand image as mediated by emotional attachment. This study aims to bridge the gap by investigating this question. In addition, the research evaluates the effectiveness of various CSR dimensions to identify the areas that have the most impact on enhancing emotional attachment. The practical gap of this research lies in the insufficient integration of CSR with measurable impacts on brand image. Despite CSR investments, banks lack strategies to evaluate their effectiveness. Many banks approach CSR as an annual routine, often repeating the same activities year after year, rather than leveraging these initiatives strategically to foster emotional attachment and enhance brand image. This routine approach creates a gap, as CSR programs may lack the ability to form deeper emotional connections between the brands. Banks engage in CSR activities that offer societal benefits but are not fully integrated into their core business values. That means the identified gaps highlight the lack of integrated strategies of CSR initiatives in the Sri Lankan banking sector, where CSR activities are often conducted as a matter of course, disconnected from core business objectives. The objectives of this research are to investigate how CSR influences the brand image of the banking industry in Sri Lanka, with emotional attachment acting as a mediator. The study also explores which types of CSR initiatives most effectively foster emotional attachment and the extent of CSR's impact on brand image. In this research, a deductive approach was employed. The researcher developed hypotheses based on existing theories such as Carroll's Four-Dimensional CSR Framework and the Triple Bottom Line Theory. Primary data was obtained through structured surveys, while secondary data was collected from academic literature, industry reports, and financial institution reports. This structured methodology sets the foundation for analysing the interplay between variables. A structured questionnaire was distributed among 385 respondents aged 18 and above, eligible to open regular savings accounts in all provinces of Sri Lanka. Descriptive and inferential statistical techniques, including frequency, correlations, and regression analyses, were employed to derive the findings. SPSS software was used to analyse the data. The demographic profile of the respondents was analysed based on gender, age, province, and income. Cronbach’s alpha for the scales exceeded 0.7, confirming consistency, and the KMO value of 0.948 indicated the suitability of the data for factor analysis. Skewness and kurtosis analyses confirmed the data’s normal distribution. Regression analysis demonstrated that CSR has a positive impact on brand image and significantly influences emotional attachment. Emotional attachment positively affects brand image. The mediating role of emotional attachment in the relationship was confirmed, supporting the research hypotheses with significant indirect effects. Analysis of this research showed strong positive correlations among all three variables. While most CSR dimensions significantly contributed to Brand Image, philanthropic activities did not show a significant effect. This deviation suggests that while voluntary and charitable activities may contribute to social goodwill, they may not directly translate into improved brand perceptions in the Sri Lankan banking industry, highlighting the need for more strategic integration of philanthropic efforts into broader CSR strategies. This suggests that consumers may prioritize other CSR dimensions, such as financial stability and ethical behaviour, over the bank’s philanthropic efforts when evaluating a bank’s brand image as a financial service provider. This study expands CSR theories and offers practical insights for banks to align strategies and enhance brand image. Theoretically, it expands on Carroll’s Four-Dimensional CSR Model and the Triple Bottom Line theory. It highlights the importance of aligning CSR initiatives with emotional and cultural values to enhance brand image in diverse markets like Sri Lanka. Practically, the findings provide banks with insights on designing CSR strategies that resonate with customer expectations, emphasizing the role of emotional engagement in strengthening brand image. However, the study is limited by its non-probability sampling technique, the unique socio-economic and cultural context of Sri Lanka, and its focus on the banking sector, which may limit generalizability to other sectors or regions. Future research could explore CSR's impact across different cultural and economic contexts, using larger and more diverse samples. Future research could map specific CSR initiatives to relevant Sustainable Development Goals to measure the contribution of banking companies to broader global sustainability goals. Additionally, incorporating other mediators and moderators such as brand trust and customer loyalty could further deepen insights into CSR’s role in brand image. overall, this research provides a valuable roadmap for banks seeking to enhance their reputation, and brand image, and contribute to a more sustainable and responsible financial ecosystem.Item Relationship between CSR Activities and Financial Performance of the Companies in Sri Lanka(4th International Conference for Accounting Researchers and Educators, Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2018) Priyankara, S.D.K.; Gunasekara, U.L.T.P.The corporate business organizations tend to have more CSR activities, as a strategy for future benefits. But it is still unclear that whether these CSR activities add value to the firm performance on which this study mainly focused. The purpose of this study is to give both companies and investors a better insight into CSR efforts and show how these efforts may add value to the business. Hence, the results are valuable for both companies and investors, as well as for other stakeholders who are benefited from companies’ CSR efforts. This study gives an opinion about relationship between corporate social responsibility activities and financial performance of listed manufacturing companies in Sri Lanka. Data was collected from secondary sources such as annual reports, sustainability report and other related publications. Sample size of the study is all listed manufacturing companies in Colombo Stock Exchange and period covered from this study is from 2012-2017. Independent variable was measurement based on CSR checklist issued by Ceylon Chamber of Commerce. It includes measures of management involvement, market place, workplace CSR Practices, governance and legal issues, employee welfare, human resource practices, social and community. To measure the firm financial performance Return on Assets (ROA) was used. In describing the relationship between company CSR and performance descriptive analysis, correlation and Regression analysis are employed as statistical tools to analyze the data. The results show that there is a significant positive relationship between CSR activities and financial performance of listed manufacturing companies in Sri Lanka indicating that CSR acting as a tool for increasing company performanceItem Corporate Social Responsibility and Financial Performance of Listed Food and Beverage Tobacco Companies in Sri Lanka(4th International Conference for Accounting Researchers and Educators, Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2018) Thilakshi, T.N.H.; Gunasekare, U.L.T.P.CSR has become a greater important area of research among researches in the financial area in recent years. Most of entities perform CSR activities for its stakeholders than shareholders. This has led to the emergence of new dimension in financial reporting known as social responsibility reporting. It is not mandatory in Sri Lanka as in many other countries. Hence CSR disclosures are provided in the voluntary disclosures (Abeysinghe & Basnayake, 2013). This study was carried out to identify the level of CSR disclosure and its relationship with financial performance in listed Food and beverages tobacco sector companies in Sri Lanka. Study consisted 15 food and beverages tobacco sector companies as the sample. The study was carried out using secondary data. Data were obtained by using annual reports of the selected companies over the last ten years starting from 2008 to 2017. The financial performance of the companies was measure by using ROE. CSR disclosure was measured by using Global Reporting Initiatives (GRI G4 guidelines). The results revealed that the level of CSR disclosure in food and beverages tobacco sector companies in Sri Lanka was at moderate level. The level of CSR disclosure for last ten years was positive and with incremental trend. CSR subcategories (Social, Environment) also had positive incremental trend except economic categories. Finally study showed that level of corporate social responsibility disclosure was, significantly related with corporate financial performance in food and beverages tobacco sector companies in Sri Lanka. Also level of disclosure of CSR subs categories (social, environmental & economic) and financial performance has a positive relationship with each otherItem Corporate Social Responsibility and the Financial Performance of the S &P Sl Top 20 Companies in Sri Lanka(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Lelwala, U.L.; Perera, H.A.P.L.In present business context most of the business organizations are engaged in different kind of corporate social responsibility programmes voluntarily. There is no any law or government influence that the organizations must perform or engaged in corporate social responsibility activities. For those activities businesses incurred their financial resources and other non-financial resources. Most of the researchers researched on the relationship between corporate social responsibility and the financial performance because in general corporate social responsibility activities are cost to any company. There are many studies supporting for different types of relationships between the corporate social responsibility (positive, negative and neutral) and financial performance. For this analysis, it was selected 20 listed companies, in the S&P SL 20 in the Colombo stock exchange and for this analysis it was considered annual report data for the period from 2011 to 2015. This analysis mainly focussed on three regression models to test the relationship between the corporate social responsibility and the financial performance. These models represent the regression results of relationship between the corporate social responsibility and profit after tax, relationship between corporate social responsibility and return on assets and relationship between the corporate social responsibility and return on equity. Research findings shows that there is a positive relationship between the corporate social responsibility and profit after tax and negative relationship with return on assets and return on equity. Therefore it is concluded that, there is a relationship between the corporate social responsibility and financial performance of the companies.Item The Impact of Corporate Social Responsibility on Firm Performance: A study of Manufacturing Industry in Sri Lanka(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Manamperi, N.W.; Arruppala, W.D.N.In Sri Lanka, the Manufacturing sector has a glorious history of getting engaged themselves in different kinds of social activities which is formally known as CSR (Corporate Social Responsibility). There has been an increased and continued expenditure by listed manufacturing Industries on CSR activities over the years globally. It is now expected that a profit-making organization must engage in socially responsive activities. The study sought to examine the influence of expenditure on CSR on financial performance of manufacturing sector in Sri Lanka. The specific objective was to find out the influence of CSR on industries’ profitability, to determine effects of CSR on a firm’s using Return on Assets (ROA), Return on Equity (ROE), and return on Investment (ROI). The study used annual reports of randomly selected company for the period of 2010 to 2015.Correlationanalysis and regression ware analyzed using E-views. To assess the impact as well as test the hypothesis of the study whether there is a relationship and the extent of the relationship between the independent variable (corporate social responsibility expenditure) and the dependent variables. (ROA, ROE, ROI).The hypothesis that was formulated was tested and the result shows that there is significant negative relationship between CSR and ROA, that there is significant negative relationship between CSR and ROE and. There is significant Positive relationship between CSR and ROI in manufacturing industry in Sri Lanka. The study concluded that expenditure on Corporate Social Responsibility had a significant negative influence on the ROA and ROE of an industry as well as that expenditure on Corporate Social Responsibility had a significant negative influence on the ROI in manufacturing industry in Sri Lanka.Item The Effect of Disclosure of Corporate Social Responsibility on Financial Performance in Manufacturing Companies: from Manufacturing Companies in Sri Lanka(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Farook, T.N.; Rajapakse, R.M.D.A.P.Today’s competitive and dynamic market environment has formed new set of tasks for any business which are not only connected to economics. To survive and grow, firms must connect the gaps in economic as well as social systems. Maximizing shareholder wealth is every time important, but satisfying that condition alone is no more valid in computing the financial success. Corporate Social Responsibility is significant and fundamental to the sustainable functioning of businesses. Similarly, financial performance is undoubtedly fundamental to the continued functioning of any company. The purpose of this Research is to study the relationship between corporate social responsibility disclosure percentage and the financial performance of manufacturing companies in Sri Lanka. Sample of study is the highest share volume of 20 companies listed in the Colombo Stock Exchange (CSE) in the manufacturing sector and data were collected over a five-year period from 2011 to 2015, this study explores and tests the significant of the relationship between corporate social responsibility disclosure percentage and financial performance. According to the result of the significant relationship between corporate social responsibility (CSR) disclosure percentage and financial performance. According to that that Sri Lankan listed manufacturing firms should step up their Corporate Social Responsibility programs and disclosures most especially environment, community, employee, and consumer responsibilities. Because of Corporate Social Responsibility is impact to the Corporate Performance as significantly.Item Stakeholders’ Value Based Concern on Corporate Social Reporting in Sri Lanka: Value-Belief-Norms (VBN) Theory Perspectives(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Rajapakse, R.M.R.B.; Ranjani R.P.C.Growing trend of social and environmental concern in modern society and CSR reporting in worldwide reflect the increased awareness of both stakeholders and corporate community about impact of human activities on the environment. Stakeholders’ environment responsible behavior depends on personal values, norms and awareness of consequences. In Sri Lanka, during the last few years corporate involvement in social responsibility activities and CSR reporting practices has improved along with the stakeholders’ concern on CSR issues. However, a recent study revealed that even major stakeholder categories do not incorporate CSR information for their decisions. This paper aims to explore reasons for why Sri Lankan stakeholders do not consider CSR information when making their economic decisions and whether there is an impact from their value systems. Almost all stakeholder categories were selected as sample of this study. It found that different stakeholders have different value orientations in different levels and they do not used CSR reports as sources of information.Item Corporate sustainability: A Literature Review(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Swarnapali, R.M.N.C.This review article intends to bring a better understanding to the field of corporate sustainability as studied by previous scholars. Since the end of the 1990s, corporate sustainability has become a growing interest theme in business and academia. However, literature is still limited in quantity. This review paper provides a review of 50 articles dating from 2002 to 2016 from journals related to accounting, business, and management. The paper summarizes the corporate sustainability evolution, different definitions, measures and applied theories throughout the literature. The findings highlight that corporate sustainability field is still evolving and then different approaches have been used to define, measure and theorize corporate sustainability. Overall, review evidences that a commonly agreed definition of sustainability is lacking. Thus, concepts of corporate sustainability and corporate social responsibility have been used simultaneously in many contemporary studies since they are precisely indistinguishable.Item Corporate Social Responsibility Practices Evidence from Selected Companies in Colombo Stock Exchange(Department of Finance, Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Gallage, G.I.D.This study investigates about the corporate social responsibility practices based on selected companies in Colombo Stock Exchange (CSE). The study also looks into the actual contribution of CSR activities conducted by companies of CSE. The study documents the best corporate social responsibility reporting sector of Colombo stock exchange. Study also identifies how Sri Lankan companies perceive Corporate Social Responsibility. This research has used secondary data for the purpose of analysis and the sources of data include the annual reports of selected companies. This study has selected ten sectors and from each those ten sectors six companies have been selected. These ten sectors include Bank and Financial, Hotels and Travels, Beverage, Diversified holdings, Manufacturing, Trading, Plantation, Construction, Health care and services. Study results suggested that banking sector is the best for practicing corporate social responsibility. Companies have different reasons for issuing CSR reports. Information on CSR activities is measured valuable by both academic researchers and business managers as it provides a working framework on which future studies can be based. In addition, it improves understanding of the social obligations, which corporate entities are obliged to their stakeholders and society in general.Item Effects of corporate social responsibilities on performance of banking sector(Department of Accountancy, University of Kelaniya, 2015) Sampath, M.G.I.Corporate social responsibility refers to the company's effects on the environment and impact on social welfare. According to one of the most frequently cited definitions, Corporate Social Responsibility (CSR) is a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis. Corporate social responsibilities are more important to service sector organizations because they are directly deal with customers. There is competition among banks to attract more customers by providing CSR to public. Therefore it is better to understand the relationship between corporate social responsibility and performance of Banks. The main purpose of this study was identifying the relationship between Corporate Social Responsibility and firms’ performance. To achieve this main objective sub objectives such as, how CSR effect on firms performance, whether it highly influenced on short term or long term, to identify the influence of CSR on profitability over a period of Five years, to measure the individual effect of employee relations, and public relations on profitability will be followed. This study is concerned with the information disclosed in the annual reports, as well as primary data sources. According to the result of the regression analysis researcher found that there in a positive relationship between CSR and the profitability of banks, CSR is highly influenced on long term profitability, there was a significant influence from employee related expense and public CSR expense is not significantly influence on short term profitability but in long term it was significantly influenced.