ICBI 2022

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Barriers of Circular economy: Empirical evidence from Listed Manufacturing Sector in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Jayasinghe, Gayara; Dissanyake, Hiranya
In this 21st century, most companies in the world are concerned about the impact on the environment beyond the profit objective. Accordingly, to achieve sustainable development goals in 2030, it is essential to consider that goals related to water, energy, climatic actions, and life on the land can be achieved by implementing circular economy practices. Unfortunately, a dearth of studies considers this area in the world, and according to researchers’ knowledge, there is no comprehensive study conducted to identify barriers to a circular economy in Sri Lanka. Therefore, this study aims to identify the barriers to implementing a circular economy under institutional, Financial, Infrastructural, societal, and technological sectors in listed manufacturing entities in Sri Lanka. A quantitative, descriptive study was conducted using 86 samples from listed companies belonging to capital, materials, Food, Beverage and tobacco, consumer durables, and apparel sectors. This study collects data using an online questionnaire from sustainability officers, and data analysis is conducted using frequency analysis. The findings of this study suggest that 44.2% of companies face limited attention in the end stage of life designing current products under technological barriers, 37.2% consider recycled materials more expensive than others under financial barriers, 27% face trust issues in exchanging information under the institutional barrier and 19.8% faces lack of awareness under the societal barrier. In addition, 20% of companies face disturbance of current institutions designed by unequal fields under the infrastructural barrier. The findings of this study are essential for the policymakers to introduce policies to overcome the challenges faced by the companies and implement them in organizations to achieve SDGs six, seven, thirteen, fourteen, and fifteen in 2030 through the improvement of the level of environmental sustainability in organizations.
Corporate Reporting on Sustainable Development Goals- Evidence from Listed Manufacturing Companies in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Fernando, W.S.R.; Munasinghe, M.T.K.
This study aimed to examine the companies’ response to sustainable development goals (SDGs) by reviewing information disclosures in company annual reports. The sample of this study includes annual reports of 52 listed manufacturing companies in Sri Lanka that reported SDG information for five years during 2017-2021. Qualitative content analyses were used to analyze the information contained in the reports to recognize the nature of commitment to SDG/s. As the findings reveal over the years manufacturing companies have moved from a few towards including all 17 SDGs for reporting purposes. Companies disclose less information about the sustainability impacts of the selected SDG but more information describing the respective SDG/s during early periods of reporting. Narrative information highlights their commitment to the SDGs as a contribution to shaping the future of the world’s sustainable development, particular focus has been given to the goal of climate action. Nevertheless, SDGs reporting needs more research to analyze the reporting patterns over the years and to examine factors that influence commitment and information disclosures. The study contributed to the academic literature on sustainable development goals from the context of the manufacturing sector in Sri Lanka.
Does infrastructure development spur poverty alleviation? Evidence from Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Gooneratne, D.W.A.; Kannangara, S.D.P.P
Infrastructure refers to the basic facilities and systems that serve a country, region, or community, playing a significant role in promoting economic growth. The physical infrastructure, such as transportation, power, and telecommunication, eases economic access and contributes largely towards economic development, whereas social infrastructure improves people's living standards by focusing on education, health, and sanitation. Infrastructure development acts as a key pillar of economic development, whereas inefficient practices upsurge the vulnerability of the poor to lower quality of life and economic shocks and hinder their access to basic facilities. However, despite the substantial capital allocations on infrastructure projects over the last decade, more Sri Lankans were seen slipping into poverty lately. The study aims to examine the impact of infrastructure development on poverty alleviation in Sri Lanka. The study uses a quantitative research approach where secondary data were collected from 1960-2020 for multiple indicators available under four key segments, i.e., transportation, power, water, and telecommunication, to measure infrastructure development. Poverty alleviation was proxied through per capita consumption expenditure. Further, the study adopts Auto Regressive Distributed Lag (ARDL) technique to analyze the relationship between the variables. The co-integration test results of the study depict a long-run relationship between infrastructure development and poverty alleviation in Sri Lanka. The ARDL test results posit that infrastructure development and economic growth lessen poverty in both the long and short run. Further, the Causality test corroborates an optimistic and unidirectional causality from infrastructure development to poverty reduction in the Sri Lankan context. The study findings depict the importance of developing government economic policies to implement positive NPV-generating projects to maximize the benefit for the vulnerable parties in society.
Ensuring Sri Lankan Food Security towards Zero Hunger: Systematic Literature Review
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Vimalini, N.; Jayaweera, R.
The second sustainable development goal (SDG) is “zero hunger, establish food security and enhanced health, and encourage sustainable agriculture”. However, even though Sri Lanka has achieved significant progress towards this goal over the past 15 years, achieving the second SDG is questionable due to the current economic crisis prevailing in the country. A country’s food security changes based on its economic conditions; it is necessary to carry out periodic surveys. As the Sri Lankan economy is currently facing a massive economic crisis, furthermore studies are needed to assess the country's current food security status. However, lacking review papers on food security hinders the advancement of Sri Lankan food security research. Therefore, the primary objective of this paper is the systematization and categorization of the extant knowledge on food security in the Sri Lankan context of food security research. The study carried out a systematic literature survey. Published papers were downloaded from well-reputed databases such as Scopus, Web of Science, and Google scholar by using the keywords “food security” and “Sri Lanka” (2000-2022). Twenty-six papers were selected for the final review process. Thematic analysis was used to observe specific patterns of food security research in the Sri Lankan context. The paper discovered five major themes that the food security concept has been researched in the Sri Lankan context. Five recurring themes serve as the basis for the synthesis: i) the Role of home gardening in food security, ii) Measurements and determinants of food security, iii) Social protection and food security, iv) Food security under climate change, and iv) Covid-19 and food security. The government, development partners, and other stakeholders will need to innovate and work together in order to address and achieve the zero-hunger goal. Since this paper identifies several research findings and gaps in the field, it noticeably sets the path for future research on the concept of food security in Sri Lanka.
Facing The Tidal Wave of Digital Divide to Foster Virtual Learning Amidst Inequalities: A Facet of Quality Education
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Ranasinghe, R.S.L.B.
Despite the use of technology in Higher Education being already in existence, such technological means were limited in context and were merely used in supportive or secondary scope. However, owing to the barriers brought forth by CoViD-19, HEIs shifted entirely to virtual learning, and the continuity of predominantly relying on virtual means was seen throughout the past years, surpassing the pandemic period. ADB had identified detrimental rates of technological accessibility and inequalities in the region in this outset, and the GoSL initially took corrective measures in response to isolated cases of accessibility. Inequalities faced by adult learners had not been studied to material effect. The study aims to identify the digital divide among the concerned population in two broad categories, Internal Accessibility and External Accessibility, with the objective of bringing forth solutions in par with Global Education Coalition aims denoted under SDG 4: Quality Education.Primary data into the internal and external accessibility of adult learners is collected from a stratified random sample using a questionnaire and analyzed through data categorization into a matrix.Each quadrant in the matrix is matched to a predetermined solution that goes in-line with the aims of Global Education Coalition. The study ensures that the existing digital divide and inequalities, are properly identified, and dealt with in accordance of UN guidelines to achieve SDGs. As the digital divide and resource distribution inefficiency are significantly present in the region, findings and the recommended solutions may be replicated in and outside the country.
Factors Affecting the Quality of e-Learning: University Students’ Perspective
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Perera, P.R.M.R.; Anosan, R.
The COVID-19 pandemic turned education mode into e-learning in many countries. Sri Lankan higher education was primarily based on e-learning during the pandemic, leaving new challenges and opportunities for teachers and learners. Sustainable Development Goal 04 refers to quality education needs for everyone in the world. The quality of e-learning was a growing debate among higher education providers based on several factors. However, Sri Lankan literature leaves a gap in finding empirical evidence on the factors affecting quality e-learning. This study aims to find the relationship between seven independent factors: administrative support, course content, course design, instructor characteristics, learner characteristics, social support, and technical support on the quality of e-learning in higher education during the COVID-19 pandemic. The population selected for this study were students engaged in higher education, and data was collected using a standard questionnaire from the sample of final year undergraduates of the Department of Accountancy, Faculty of Commerce and Management Studies, the University of Kelaniya that reflects their perception of the quality of e-learning and the factors affected the quality of e-learning during the COVID-19 pandemic. Scores for the seven factors were identified based on the responses and their relationship to the quality of e-learning measured using the structural equation modelling technique. The study's results indicate that all seven factors have a positive relationship with the quality of e-learning. Further, the path model suggests that learner characteristics and social support are statistically significant for their impact on the quality of e-learning. Higher education providers are advised to focus on improving learner involvement and the social support learner receives to improve e-learning quality. Further, the attention of policymakers is required on these findings in national education policy development.
Fiscal Vulnerability, Financial Stress, and Macroeconomic Policies in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Adhikari, A.M.C.P; Kannangara, S.D.P.P
Fiscal policies are crucial when delivering sustainable development goals. Further, fiscal policies support to implement the domestic public resources and enhance the effectiveness of public spending. Moreover, fiscal policies enrich investment and contribute to fiscal reforms. These provide references to SDG target 17.1, which emphasizes the financial options and strengthening domestic resource mobilization. Therefore, it is pivotal to identify fiscal vulnerability to enhance macroeconomic policies. The study aims to examine the imbalance in the public finance structure in Sri Lanka to contribute to fiscal reforms by implementing appropriate macroeconomic policies. The study has selected several variables to develop indexes for fiscal vulnerability, financial stress, and macroeconomic policies. These three indexes were developed based on the historical data in the country under specific indicators. Therefore, the study uses a quantitative research approach where secondary data were collected from 1960-2020 for different indicators available under three indexes i.e., the index of fiscal vulnerability, an index of financial stress, and an index of macroeconomic policies. Further, the study embraces Auto Regressive Distributed Lag (ARDL) model to analyze the casual long run and the short run relationship between variables. The co-integration test captures the causal relationship results of the study, and it illustrates a long-run relationship between variables with directional causality. The study findings describe how important it is to implement a capacity mechanism suitable for Sri Lanka because prior literature emphasized that developing countries should develop their capacity mechanism considering IMF guidelines. Moreover, the study contributes to implementing fiscal monitoring mechanisms and identifying the refinancing risk of public liabilities. The study emphasizes an appropriate fiscal assessment to enhance macroeconomic policies in the Sri Lankan context.
Impact of Population, Economic Growth on Food Security- Evidence from Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Jayasanaka, H. P. W. P.; Yapa, L.G.D.D.; Kethmi, G.A.P.
Globally, there is much concern about food security. As per the United Nations’ Committee, food security is defined as all people, at all times, having physical, social, and economic access to sufficient, safe, and nutritious food that meets their food preferences and dietary needs for an active and healthy life. Ensuring food security will ultimately lead to achieving “Zero hunger, "the second aim of the Sustainable Development Goals. The demand for food has increased due to the growing population. Further, food security is managed by economic growth and diversification, creating employment for most of the population. This paper investigates the impact of population and economic growth on food security in Sri Lanka. This study uses secondary data collected from the World Bank Data Base for the period from 1990 to 2021 to examine the influence of population growth rate and GDP per capita on food security using R software. Cointegration is used to identify the long-term relationship, and the vector error correction model (VECM) is applied to discover the short-term relationship between the variables. The study's result reveals a long-run relationship between population growth rate, GDP per capita, and food security. Furthermore, there is a positive relationship between food security, population growth rate, and GDP in Sri Lanka. Therefore, the study's results imply population and economic importance on food security. The challenge is to serve the world's expanding population with a sustainable, secure supply of safe, reasonably priced food. If a country fails to develop a food security strategy, it will lead to an increase the government expenditure followed by cease of long-term economic growth. Thus, policymakers need to ensure food security by considering the population and economic growth of the country.
The Impact of Sustainable Development Goals (SDGs) Implementation on Firm Performance: Evidence from Selected Listed Companies in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Fernando, M.W.M.; Weligamage, Susima
Organizations can play a significant role in advancing the sustainable development agenda by integrating SDGs into their strategies and operations and providing new solutions to global sustainable development challenges. A review of the literature and empirical studies evidenced that implementing sustainable development goals is still in progress in the Sri Lankan business context. This study covers the body of knowledge regarding the impact of incorporating SDGs into business strategies for improved financial performance. This research aims to fill the empirical gap by investigating the impact of implementing sustainable development goals on firm performance in Sri Lanka. Therefore, the main objective of this study is to identify the relationship between the implementation of the SDGs and Firm Performance, to ascertain whether the implementation of these policies helps achieve high Firm Performance and to develop a framework to determine the influence of the Sustainable Development Goals (SDGs) on firm performance. This study is an ongoing research project and proposes to collect data from secondary data sources using annual reports, sustainability reports, and official websites of the 40 companies listed in CSE representing ten banks, ten insurance, and 20 finance covering the period of 2017-2021. Level of sustainable development implementation, company size, sector, age, and corporate risk are chosen as the independent variables, and financial performance is measured using ROA and ROE as the dependent variable for the study. Description of the SDG implementation level, descriptive statistics, correlation, and regression analysis will be used to analyze and present the collected data. The study also focuses on finding out the SDG implementation level of selected industries and comparing those levels with other countries’ practices. Based on the results, this study concludes and suggests the future implementation of the SDG in Sri Lankan Companies.
Impact of Unemployment on Food Security: Evidence from Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Weerasinghe, K. G.; Pathirana, H.P.S.S.; Dissanayake, D.M.U.H.
Unemployment is becoming one of the main socio-economic problems in Sri Lanka, coupled with the economic recession. Unemployment results in an increase in the poverty rate of the country. Poverty leads to food insecurity. Food security is defined as all people having physical, social, and economic access to sufficient, safe, and nutritious food that meets their food preferences and dietary needs for an active and healthy life. Food security will ultimately achieve zero hunger, the second Sustainable Development Goal. The study investigates the impact of Unemployment and Food security in Sri Lanka. The study investigates the impact of Unemployment and Food Security in Sri Lanka using the Autoregressive Distributed Lag Model (ARDL) using Sri Lanka as the sample country for thirty years from 1991 to 2020. The data was collected on an annual frequency from CBSL. The results show a negative relationship between unemployment and food in Sri Lanka. The study concludes that when unemployment is higher, food security is lower. Level of education and macroeconomic economic factors are the mechanisms through which unemployment reduces food security. Lack of education reduces chances for employment. Further, low-quality jobs and macroeconomic conditions will reduce food security. Thus, policymakers need to increase education and job opportunities, ultimately increasing food security.
Impact of Workplace Culture on Employee Wellbeing: A Test of Work-Life Balance Mediating Effect
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Peiris, D.P.M.S.M.; Wanigasekara, S.K.
Previous research suggests that improving workplace cultures can impact employee wellbeing. However, little research is known about how workplace culture influences employee wellbeing, and whether work-life balance mediates this relationship. We propose a positive relationship between workplace culture and employee wellbeing based on perceived organisational theory. Further, based on the social exchange theory, we propose a mediating effect of work-life balance on the relationship between workplace culture and employee wellbeing. Based on quantitative research methods, this study collected data via a survey. The survey questionnaires were distributed among 300 middle-level employees from private sector banks in the Puttalam District in Sri Lanka. We employed regression analysis for data analysis. This study found a significant positive impact of workplace culture on employee wellbeing and a partial mediating effect of work-life balance on employee workplace culture and their wellbeing. Findings of this study support practitioners in understanding the importance of workplace culture and work-life balance on employee wellbeing.
Is Financial Sector Evolution Pivotal in Poverty Alleviation in Sri Lanka?
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Kannangara, S.D.P.P; Gooneratne, D.W.A.
The studies in the field of financial sector development have gradually flourished, drawing increased attention from scholars globally. The rich literature posits that financial development is a core requirement in achieving the economic growth of a country. World Bank postulates that the evolution in a country's financial sector ensures capital accumulation via savings growth, mobilization of funds, risk management, and continuous flow of foreign direct investments whilst reinforcing efficient capital allocations leading to economic development. Albeit efficient credit allocations and increased investments correspond to financial development, inequalities in income distribution are often visible in society. Raising the savings rate, mobilising and pooling funds, producing investment information, facilitating and encouraging foreign capital inflows, optimising capital allocation, economic growth through capital accumulation, and technical advancement is essential to the financial sector development in poverty alleviation. The study investigates the impact of financial sector development on poverty alleviation in Sri Lanka. The study adopts a quantitative approach where secondary data are manually collected from 1960-2020. Financial sector evolution was proxied through broad money stock (M3) to nominal GDP ratio and domestic bank credit to the private sector to GDP ratio, whereas poverty alleviation was measured using the per capita consumption expenditure. The study employs Auto Regressive Distributed Lag (ARDL) technique to analyze the relationship between the variables. The co-integration test results of the study depict a long-run relationship between financial development and poverty alleviation in Sri Lanka. The ARDL test results posit that financial development coupled with economic growth lessens poverty in both the long and short run. Further, the Causality test corroborates an optimistic and unidirectional causality from financial development to poverty reduction in the Sri Lankan context. The study results reflect the importance of continuous developments in the financial sector by improving financial accessibility and diversifying financial products while reinforcing the financial institutions of the country aiming at the underserved market segments.
Is there any Digital Gender Divide? Exploring challenges faced by Female Technopreneurs in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Sahira, S.; Surangi, H.A.K.N.S.
The tech industry will continue to bring change in habits and behaviours and will create significant wealth. However, female entrepreneurs remain severely underrepresented in the world of technology. The absence of female entrepreneurs in the tech sector will lead to a digital world being designed for the 21st century without female leadership, leading to a significant blow to closing the gender gap. This research investigates the problems and challenges facing high-technology female entrepreneurs in Sri Lanka. The qualitative research method, particularly a narrative design, was adopted to collect and analyze data through the lens of feminist theory. Three female technopreneurs were purposively approached and interviewed. The findings show that women considered the most critical challenges, such as lack of technologically innovative business ideas, lack of digital resources, lack of business network, and fear of online safety. In addition, socio-cultural thinking discourages women from setting foot in the tech sector. Extending digital knowledge and access and providing connected devices to lower-income females will be impactful. Regulations should be placed to have companies introduce a minimum quota for women hired. Findings should lead to a generation of benchmark data in addressing gender gaps. The study ensures SDG 05: achieving gender equality and empowering all women and girls.
National HRD: the Key to Achieve SDGs in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Devadas, Udaya Mohan
The agenda for ‘Sustainable Development Goals’ or ‘Global Goals’ was adopted by the United Nation in 2015 with a mission of a ‘shared blueprint for peace and prosperity for people and the planet, now and into the future’. The many agree that to achieve SDGs, the progress in Human Development (HD) is needed. The UN testifies that ‘SDGs provide a development destination while human development allows one to design the route to get there’. In achieving the human development through a macro–human resource development perspective, many authors have identified ‘national HRD’ as a plausible mechanism (McLean, 2001). This ongoing research aims to delineate the NHRD’s plausibility as the foundation for achieving SDGs. Thus, the researcher expects to provide learnings to the reader through a poster on a conceptual model explaining how National HRD can help achieve SDG through resolving human resource development challenges in Sri Lanka. The researcher designs this study as a content analysis using the latest literature on HRD, NHRD, HD, SDGs, and other relevant documents. The results reveal that Sri Lanka has not pursued a national HRD agenda except practical evidence of national level HRD practices that have been driven under social and welfare development agendas. Further it was revealed that Sri Lanka purely believe in human resource management which is traditionally practiced resolving workforce issues within corporate organizations. Finally, a conceptual model is presented to show how NHRD help achieve SDGs through resolving human resource challenges in the country. In concluding, the researcher highlights that prolonged development issues exist in Sri Lanka due to its failure to adopt and execute an HRD agenda to resolve its people issues beyond corporate levels in comparison with the achievements of other regional countries. It was justified that NHRD is plausible to achieve SDG through resolving human resource development challenges in Sri Lanka as presented in the conceptual model of the research.
Participatory Planning for Local Sustainability Engaged by the SDGs: Case of Paleegama Village, Puttalam
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Arthy, Y.
Initiatives are essential worldwide, nationally, and locally to accomplish the United Nations Sustainable Development Goals (SDGs. To coordinate between scales, local initiatives must be wisely planned to be aligned with worldwide and national priorities. Local planning for sustainability must be adaptive and heterogeneous but reliable and motivated by the local community. As Planners, we describe an approach called ‘Fixed Goal Approach’ to co-create a local sustainability plan using the SDGs such as SDG-3, SDG-6, SDG-8, SDG-11, SDG-13 and SDG-15 for a rural community in Puttalam District, village called Paleegama using participatory techniques for co-creation such as ‘Listening Post’ and ‘Kitchen Table Discussion’ and Contextual Analysis such as ‘Snowball process’ and ‘Comprehensive Desktop Review’. The community placed high importance on infrastructure for accomplishing social equity and sustainable growth while conserving its unique setting. By formulating their priorities in this community-led plan, the community is permitted to advocate for the sustainable development of their village with decision-makers. If local communities develop sustainability plans using the SDGs, then such planning will be reliable between and across environmental scales and associated with global goals. This will also help accomplish the SDGs at national and global scales, as encouraged by the United Nations in the 2030 Agenda for Sustainable Development.
The Puzzle of Management Graduands Unemployment in Sri Lanka; Entrepreneurship Education as a Way Forward
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Hansika, W. A. Maduni
This study's main objective was to study entrepreneurship education's impact on reducing unemployment among management graduates in Sri Lanka. According to the available data of the University Grants Commission, students in the Management stream have a considerably high rate of unemployment than students in other streams. This is one of the timely problems that should be solved immediately since this has a direct influence on poverty, hunger, economic growth, and good health and wellbeing. Although several scholars have attempted to study the impact of entrepreneurship education on unemployment, none of these studies directly links entrepreneurship education and unemployment with sustainable development. According to the University Grants Commission Reports, the study population consisted of approximately 19562 graduands. Four hundred people were selected as the sample per Krejcie and Morgan's table, and the stratified random sampling technique was employed in selecting the sample. A previously developed questionnaire was used to collect data. Regression analysis was used to find the impact of entrepreneurship education on reducing management graduands' unemployment in Sri Lanka. According to the findings, entrepreneurship education significantly impacts the reduction of management graduands' unemployment in Sri Lanka. Entrepreneurship education can reduce poverty, stimulate economic growth, boost innovation, and enhance social and environmental sustainability by reducing unemployment. The paper concluded by offering the importance of recognizing entrepreneurship education to solve the unemployment puzzle.
Reporting of Sustainable Development Goals; Evidence from Finance Sector Companies in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Priyadarshani, K.R.N.; Munasinghe, M.A.T.K.
This study’s purpose is to explore how Sri Lankan finance companies report on sustainable development goals (SDGs) and to identify company strategies toward SDGs.This study is conducted by analyzing the content of annual reports, websites, and magazines issued by the listed finance companies in Sri Lanka. The sample includes 10 Commercial Banks for five years from 2017 to 2022. Qualitative content analyses are used to determine the nature of company responses to SDG and link to company strategies. Results show that finance sector companies have disclosed only a few SDGs in initial periods and by now tend to disclose all 17 goals in their reports and commitment to them is emphasized through strategies. Fund allocations for certain SDGs such as for SDG 4-Quality education gradually increased over the years. In reporting related information, companies have used GRI guidelines and included more pictures and images in addition to narratives. In Sri Lanka, there is a scarcity of publications on how businesses are addressing the SDGs. This study provides some answers to that question by focusing on how companies disclose information about SDGs and link them to SDG-focused sustainability strategies. And this paper suggests future research exploring the implementation of sustainable strategies.
Residential Housing risk and returns and their importance to responsible investors and social housing providers: Evidence from Australia
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Morawakage, P.S.
The Australian housing market is severely unaffordable. Australia forecasts demand for one million social and affordable dwellings by 2036. The social housing sector in Australia struggles to finance private investments to meet the rising demand for affordable houses. Increasing Socially Responsible Impact (SRI) investors are an excellent source of finance for the affordable housing sector. However, housing associations and relevant government institutions have not paid sufficient attention to the SRI investors as a source of housing finance. SRI investors consider the environmental, social, and governance (ESG) performances in their investment process. Therefore, this study evaluates the Australian social housing sector’s ability to attract SRI investors. This study aims to connect socially responsible impact investors and social housing associations as a solution to the lack of private investments for the provision of much-needed affordable housing. First, the downside risk measures are collected from the residential housing market transactional data in Brisbane, Australia and ESG-related investments. Then four focus-group discussions are conducted with industry experts to support the impact evidence required by SRI investors. We also apply a multifactor asset pricing model to estimate the risk parameters of affordable housing submarkets and expensive submarkets. Finally, a three-dimensional portfolio optimization technique is employed to evaluate the profitability of responsible investors’ investment portfolios after incorporating affordable housing assets. It was found that affordable housing submarkets have more downside protection and risk-adjusted returns than other real estate and ESG-related investments. The multifactor asset pricing model shows that the affordable housing submarkets have the lowest risk exposures. Focus-group discussions provide strong impact evidence on the ESG performance of the affordable housing industry. The results of this study demonstrate that affordable housing is a safe and sound investment that provides the social impact and profitability required by socially responsible impact investors.
The Role of Social Entrepreneurs in Lessening Poverty in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Kannangara, S.D.P.P; Ranwala, Randini; Surangi, H. A. K. N. S.
This research examines the role of Sri Lankan social entrepreneurs in lessening poverty. No poverty is the first goal of the United Nations Sustainable Development Goals, and it is the most compelling issue of the twentieth century. Millions of people suffer worldwide, unable to obtain basic human needs such as food, clean water, and sanitation. The World Bank has categorized poverty into two groups: absolute poverty and relative poverty. Absolute poverty refers to having a lack of resources to meet physical needs. In contrast, relative poverty refers to having a lack of resources to live a life relevant to their social status. Social entrepreneurship is about recognizing social problems and achieving social change by employing entrepreneurial principles and operations. The qualitative research method, particularly a discourse analysis, was adopted to collect and analyze data through the lens of Giddens’ structuration theory. Data were collected from four speeches and discussions of social entrepreneurs published as videos on the internet. Findings revealed that social entrepreneurs play a leading role in recreating social systems, providing entrepreneurial skills, and supplying health and education to people. They also teach people to stand on their own two feet and empower ‘others’ to help solve their challenges and create a new future. Social entrepreneurs bring value to the continuous fight against poverty. This research has theoretical and public policy implications. In terms of the theoretical debate, the study contributes to the literature by using Giddens’ structuration theory as a theoretical framework that fosters social entrepreneurial activity in Sri Lankan contexts. From a policymaker’s perspective, this research should be taken into account for the design of policies to support social entrepreneurship by considering the contribution to eradicating poverty.
Shaping a “ Dominant Mental Map” to the Sri Lankan Context by Using “No Poverty” (SDG 1) “Zero Hunger” (SDG 2) and “Quality Education” (SDG 4)
(Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2022) Paranagama, B. U.
Sustainable development goals established by United Nations offer an extensive framework to steer a country towards a thriving path socially, environmentally and economically. People tend to absorb information that is consistent with their beliefs. Therefore, public understanding plays a massive role in attaining SDGs in a particular country by triggering public engagement. This study aims to test the relevance of the “dominant mental map relating to sustainability elements” developed by Bain et al. in 2019 in the Sri Lankan context and to develop a new model that works for Sri Lanka to indulge the Sri Lankan culture. The sustainable development goals used in the study are No poverty, zero hunger and quality education (SDG1, 2, and 4, respectively). Research would be carried out in a mixed method. As a quantitative method, an online questionnaire on “understanding people’s worldviews” which combined with Short Schwartz Value Survey, will be disseminated among a sample of 500 Sri Lankans who self-selected to do the online survey. Interviews will be carried out among 20 participants ( Sri Lankans) from different income levels and education levels who will be selected using the snowball sampling technique. SPSS AMOS and interpretive phenomenological analysis will be used as data analysis methods. The analysis results will elicit the conformity of the dominant mental map proposed by Bain et al. (2019) regarding No poverty, zero hunger and quality education. Therefore, it can be used to promote SDGs in Sri Lanka by enhancing the level of understanding of the model's insights. Further, this research will develop a new domestic model that addresses Sri Lankan cultural dimensions. The dominant belief in each country decides the public communication of SDGs. The findings will highlight the opportunity to use the dominant mental model to engage with the Sri Lankan public to achieve 3 SDGs more effectively. The new model will explain a tailor-made way of public communication embedded with Sri Lankan cultural dimensions to address on a deeper level to the public on SDGs ( SDG 1, 2 and 4).