Commerce and Financial Management

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    Examining the factors influencing English as a Second Language learning: A teacher's perspective in the case of Walasmulla Educational Zone, Hambantota District, Sri Lanka
    (KALAM International Research Journal Faculty of Arts and Culture South Eastern University of Sri Lanka, 2024) Dineshika, H.K.P.
    This study investigates the factors influencing English as a Second Language (ESL) learning from teachers' perspective in the Walasmulla Educational Zone, Hambantota District, Sri Lanka. Recognizing the challenges students face in learning English, it seeks to answer these key research questions: a) What psychological factors influence ESL learning in Walassmulla Educational Zone? b) What social factors affect ESL learning in the same context? and c) What are the teachers’ recommendations for addressing these challenges in the selected context? The study used qualitative data from fifteen randomly selected English language teachers. Data was collected through questionnaires and semi-structured interviews, while thematic analysis was employed for qualitative data analysis. The results revealed that psychological factors, such as students' shyness, fear of speaking, negative teacher evaluations, and lack of confidence and motivation, significantly hindered ESL learning. Additionally, social factors like classroom behaviour, exposure to the language, family background, and the perception of English as merely a subject further affected their progress. The study highlights practical recommendations to address these psychological and social barriers, offering insights into overcoming the challenges of learning English in the Sri Lankan context. This research underscores the importance of addressing psychological and social factors in enhancing ESL education.
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    Improving community vitality: spiritually informed entrepreneurial actions
    (Journal of Entrepreneurship in Emerging Economies, 2024) Dissanayake, S.; Pavlovich, K.; Kovács, G.
    Abstract Purpose The purpose of this paper is to depict how entrepreneurs improve community vitality in the economic, social and environmental dimensions. The paper joins the conversation of business spirituality as the study participants were Sri Lankan Buddhist entrepreneurs from the emerging venture context (i.e. from enterprises which are less than 1–10 years old). The aim of the paper is to introduce spiritually informed entrepreneurial actions, thus contributing to a better understanding of entrepreneurial impact on communities. Design/methodology/approach The paper involves a qualitative, interpretivist research design. Data was collected by conducting 28 semi-structured interviews with 18 Sri Lankan Buddhist entrepreneurs. Research participants were selected from diverse business sectors. The research applied inductive thematic analysis for structuring and interpreting data. Findings For Sri Lankan Buddhist entrepreneurs, improving community vitality is an essential altruistic goal of their business agenda. During the operations of their ventures, this altruistic goal is translated into altruistic actions that improve the economic, social and environmental vitalities of communities. Research findings highlight that in the case of Sri Lankan Buddhist entrepreneurs, altruistic actions are informed by compassion, which is a fundamental value in the Buddhist religion. Drawing on the findings, an integrated model of community vitality, which describes the role of compassion and the mechanisms of entrepreneurial actions in a Buddhist setting was developed inductively. Originality/value Studying entrepreneurial actions to focus on the motivations behind improving community vitality is a new research topic. The paper provides valuable knowledge on business spirituality regarding the compassionate motivations of Buddhist entrepreneurs. The integrated model of community vitality, which describes the mechanisms of entrepreneurial actions to improve community vitality in a Buddhist setting could be an essential compass not only to entrepreneurs but also research scholars in the field of business spirituality.
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    Exploring values, orientation, and motives towards corporate social responsibility: SME owners’ and managers’ viewpoint in Sri Lanka
    (Springer Nature, 2024) Shamil, Mohamed M.; Surangi, H. A. K. N. S.; Mallawarachchi, M. A. D. H.
    The paper aims to explore small and medium enterprise (SME) owners’ and managers’ personal values, orientations, and motives towards corporate social responsibility (CSR) using the stakeholder theory. This study used a qualitative approach aligned with the constructionism philosophy. Ten respondents were purposively approached and interviewed. Thematic analysis was used to analyze and interpret data. Findings showed that SME owners and managers’ values, orientation, and motives influence CSR engagement and explain their nexus. This study gives a unique perception of awareness among SME owners and managers in Sri Lanka about CSR implementation while contributing to the existing area. It is proposed to conduct an in-depth exploration of the complexity in which CSR initiatives are embedded in the SME sectors of developing countries. This study will become a benchmark for other CSR studies.
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    Financial mismanagement of small businesses: a study based on the hotel industry in nuwara eliya district
    (Faculty of Management Studies & Commerce, University of Jaffna, 2023) Kariyakarawana, K.I.P.; Panditharathna, K.M.; Ranwala, R.S.; Nimeshi, G.K.S.
    The purpose of the study was to identify the financial mismanagement of small businesses and their effect on the business’s success. This research used the qualitative approach and continued the study through the general qualitative method. Sample were selected based on the purposive sampling method. Accordingly, data collection was done through in-depth interviews with owners of six small businesses in the Talawakele - Lidula Municipal Council area in the Nuwara Eliya District. The data were analysed, and themes were derived using thematic analysis. The main mismanagement identified from the study was mismanaging start-up capital, cash flows, budgetary system, personal spending, retained earnings, and working capital. Due to these mismanagements, businesses cannot run with a proper plan. The findings of this study will enable small businesses to identify their financial mismanagement. These findings will also help policymakers to identify the areas that are required to improve the financial management literacy of small business owners.
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    Why/How are Integrated Reporting Practices Adopted/Diffused? Evidence From Public Listed Companies in Sri Lanka
    (Universiti Malaya, 2023) Abeywardana, Nawarathna Liyanage Erandi; Azam, S.M. Ferdous; Teng, Kevin Low Lock
    Manuscript type: Research paper Research aims: This study explores the factors affecting and the internal mechanisms employed by companies to manage their integrated reporting practices. Design/Methodology/Approach: The qualitative study is conducted through semi-structured interviews with 15 officers responsible for the integrated reporting practices of public listed companies in Sri Lanka. Research findings: The study found that relative advantage, compatibility, complexity, trialability, and observability affect the adoption of integrated reporting practices. Under the internal mechanism, it was found that sustainability reporting helped the adoption, and companies used their own ways to collect and manage information. Despite the companies’ duration of practice, the constellations of structures, cultures, and reporting practices with which integrated reporting is managed change within the companies. Furthermore, the study showed the success stories of integrated reporting. Theoretical contribution/Originality: The study is the first South Asian and emergent market study to identify the enablers of integrated reporting by employing the diffusion of innovation theory as the theoretical foundation and internal mechanism. Practitioner/Policy implication: This study provides insight into the dynamic processes that operate within the framework of the organisational change that has taken place from this perspective and demonstrates how integrated reporting can be incorporated into the organisational change process. The experience of these organisations allows others that intend to embrace integrated reporting to choose the optimal way to implement it and use integrated reporting. Research limitations/Implications: Although much effort was taken to ensure that the study comprised successful IR businesses that displayed best practices in IR, this research study was confined to a small number of 15 public listed companies who participated.
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    Barriers to Learning from Crisis: A Neglected Aspect of Disaster Risk Reduction in the Tourism SMEs in Sri Lanka
    (2024) Adikaram, Kalutara Koralalage Nilanthi Britto; Sheresha, Surangi Hapugoda Achchi Kankanamge Nadee
    The survival of Small and Medium Enterprises (SMEs) is a critical necessity due to their economic and social contributions. Organizational crises, on the other hand, pose a threat to the viability of SMEs. Thus, DRM has become increasingly important in the organizational management of SMEs. As a strategic approach to DRR in organizational context, SMEs need to practice crisis management, particularly need to learn from crises. However, the high crisis vulnerability of SMEs indicates ineffective crisis management on their part, mainly due to failure to learn from crises. Using a social constructivist approach, this phenomenological study attempts to identify the various barriers that hinder the crisis learning of SMEs. An in-depth investigation was conducted with 19 selected tourism SMEs located in the Southern Province of Sri Lanka. The results revealed the existence of several crisis learning barriers classified using IPA, namely personal, organizational, and industry level barriers. Among them, the organizational level barriers brought attention to the lack of internal resource integration for crisis management in tourism SMEs. These findings could assist SMEs and stakeholders to identify the corrective measures required to eliminate such learning barriers. They may also help policymakers and supporting organizations in launching their services.
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    Mainstreaming microfinance: balancing financial performance and outreach
    (Faculty of Graduate Studies, University of Kelaniya, Sri Lanka., 2024) Panditharathna, K.M.; Rajapakse, R.P.C.R.
    There is an unsolved dilemma in the Sri Lankan microfinance sector: whether microfinance institutions target low-income earners or seek profitability. To contribute to this debate, this research investigates the effect of financial performance on outreach and the effect of outreach on financial performance. Balancing financial performance and outreach of microfinance institutions have been conducted in various countries and regions, but specifically not for Sri Lanka after implementing No.06 of 2016 Microfinance Act. This study used an empirical data set for ten years, from 2010 to 2019. Data was collected from 16 MFIs and the panel data regression model was used for the analysis. According to the results MFIs can achieve financial and social objectives simultaneously when serving a larger number of customers and a high percentage of female borrowers. But providing services to the core poor people diminishes their financial performance. As per the findings, policy makers are required to make a roadmap to protect both customers and organization financial sustainability. This study emphasizes the importance of having a proper reporting system for the microfinance sector and future research may wish to consider more MFIs by considering a long period and future research can occupy financial performance and outreach variables which are good at forecasting.
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    Measurement Model to Assess Sustainable Agriculture Potential of Sri Lankan Rice Farmers Derived Using Rural Livelihood Assessment Framework: Studied in Mahaweli-Block (H)
    (Faculty of Graduate Studies, University of Kelaniya, Sri Lanka., 2024) Ariyarathne, S.M.W.P.K.; Nanayakkara, K.G. Madurika; Thushara, S.C.
    This paper describes a systematic method that identified constructs and indicators of a measurement model to assess rice farmers' Sustainable Agriculture Potential (SAP). The method used the Rural Livelihood Assessment Framework (RLAF) definition to define SAP's primary constructs. The capital assets defined in RLAF (human, social, financial, physical, and natural) were then explained using previous Sustainable Agriculture (SA) research findings. An initial 130 indicators were framed into five-point Likert scale questions to form a research questionnaire. The questionnaire was initially administered among 64 selected farmers in a dominant rice cultivation region (Mahaweli Block H) in Sri Lanka. The responses were analyzed using the measurement model analysis technique using the Partial Least Square Structural Equation Modelling (PLS-SEM). Based on this analysis, 87 questions were identified as effective measures of the farmers' SAP. The refined questionnaire was surveyed among 386 rice farmers randomly selected in the same region. The responses were analyzed using the PLS-SEM techniques for each capital asset in the form of measurement models. The analysis proved those 87 questions (indicators) are productive and can explain farmers' SAP compositely. The researcher believes the model will be helpful for future researchers in assessing the strengths of SAP and the nexus between SAP and other variables, such as their ability to adopt more organic-centric farming and resilience to other varying factors impacting their farming. Furthermore, the method used to maximize the variance explained in developing indicators and ruling out the less productive indicators could be insightful for researchers in future studies.
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    Why/How are Integrated Reporting Practices Adopted/Diffused? Evidence From Public Listed Companies in Sri Lanka
    (Faculty of Business and Accountancy, University of Malaya, Malaysia, 2024) Abeywardana, Nawarathna Liyanage Erandi; Azam, S.M. Ferdous; Teng, Kevin Low Lock
    Manuscript type: Research paper Research aims: This study explores the factors affecting and the internal mechanisms employed by companies to manage their integrated reporting practices. Design/Methodology/Approach: The qualitative study is conducted through semi-structured interviews with 15 officers responsible for the integrated reporting practices of public listed companies in Sri Lanka. Research findings: The study found that relative advantage, compatibility, complexity, trialability, and observability affect the adoption of integrated reporting practices. Under the internal mechanism, it was found that sustainability reporting helped the adoption, and companies used their own ways to collect and manage information. Despite the companies’ duration of practice, the constellations of structures, cultures, and reporting practices with which integrated reporting is managed change within the companies. Furthermore, the study showed the success stories of integrated reporting. Theoretical contribution/Originality: The study is the first South Asian and emergent market study to identify the enablers of integrated reporting by employing the diffusion of innovation theory as the theoretical foundation and internal mechanism. Practitioner/Policy implication: This study provides insight into the dynamic processes that operate within the framework of the organisational change that has taken place from this perspective and demonstrates how integrated reporting can be incorporated into the organisational change process. The experience of these organisations allows others that intend to embrace integrated reporting to choose the optimal way to implement it and use integrated reporting. Research limitations/Implications: Although much effort was taken to ensure that the study comprised successful IR businesses that displayed best practices in IR, this research study was confined to a small number of 15 public listed companies who participated.
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    Female entrepreneurial orientation and firm performance: with special reference to Sri Lanka
    (Management and Sustainable Development, 2023) Herath, H.
    The purpose of this study is to examine how entrepreneurial orientation influences firm performance of female entrepreneurs in Sri Lanka. The proposed conceptual model delineates the direct relationship between innovativeness, proactiveness, risk-taking, autonomy and competitive aggressiveness - the five dimensions of entrepreneurial orientation - and firm performance of female-owned entrepreneurial firms. This study used a randomly selected sample of 267 female-owned entrepreneurial firms in Sri Lanka to test the hypothesised relationships between the constructs; structural equation modelling was performed. The findings of this study confirmed that entrepreneurial orientation has a positive effect on firm performance of female-owned entrepreneurial firms in Sri Lanka. Particularly, findings confirm that all five dimensions of entrepreneurial orientation (innovativeness, proactiveness, risk-taking, autonomy and competitive aggressiveness) have a positive impact on the performance of these firms. Thus, entrepreneurial orientation is a mechanism and a strategy for the success and the survival of female-owned entrepreneurial firms.