Volume 12 - Issue 1 - 2023
Permanent URI for this collectionhttp://repository.kln.ac.lk/handle/123456789/29355
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Item Fuzzy Multi-Criteria Decision-Making Model for Prioritisation of Road Project Investments: Validity Evidence from Lagos State(Faculty of Commerce and Management Studies, University of Kelaniya., 2023) Oyatoye, E. O.; Balogun, D. A.; Adebiyi, S. O.; Oyenuga, O. G.Decision making process for prioritizing investment on road projects can be very challenging within the public sector as it is influenced by several factors such as political, social and economic factors. The importance of designing a reliable scientific model to address the associated challenges is key for making optimal decisions about investment in road projects. This study focused on prioritizing investment on road projects in Lagos State. In a bid to achieve this, a fuzzy multi-criteria decision-making model was developed. The model comprised of the Delphi Technique, Analytic Hierarchy Process, and Technique for Order of Preference by Similarity to the Ideal Solution. The Delphi technique was utilized to determine and rank criteria that should be considered. Agreement among raters was measured using Kendall’s coefficient of concordance (W). A simplified model for decision-making on prioritization of investment on road projects was developed with the Analytic Hierarchy Process (AHP) and Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS). AHP was employed for obtaining the weight of each criterion considered, while TOPSIS was used to analyze three existing projects based on the criteria already identified in this study. The result showed that Agege - Pen Cinema Flyover ranked as the most important alternative for consideration, while Agric - Isawo Road and, Lekki-Epe Expressway ranked second and third respectively.Item Corporate Governance Practices and Financial Distress: Empirical Evidence from Listed Companies in Sri Lanka(Faculty of Commerce and Management Studies, University of Kelaniya., 2023) Balagobei, S.; Keerthana, G.The study aims to investigate the impact of corporate governance on financial distress of listed companies in Sri Lanka. Board size, board composition, CEO duality, board meeting, director ownership, and audit committee size are proxies for corporate governance while financial distress is measured by the Altman Z-score. Altman Z-score measures financial distress inversely and bigger the Z-score indicates the smaller the risk of financial distress. Using hundred and eight individual observations of firms listed in Sri Lanka for the period of 2019 to 2021 and employing fixed effects model, the effect of corporate governance practices on financial distress is evaluated. The results from panel data regression analysis reveal that firms having large number of directors on the board have a low likelihood of financial distress of listed companies in Sri Lanka. Furthermore, when a chief executive officer serves as the chairman of the board at a company, the more likely it is that the company will experience financial distress. But, board composition, audit committee size, board meeting and director ownership have not shown any significant impact on financial distress. The current study also provides evidence that firm-specific characteristics such as firm size, leverage and profitability, could be useful as to determining the likelihood of financial distress. The findings may be of prominence to the academic researchers, practitioners, and regulators who are interested in discovering the quality of corporate governance practices in a developing market and its impact on financial distress.Item Factors Affecting the Initial Return of Initial Public Offerings (IPOs) and IPO Underpricing in the Colombo Stock Exchange(Faculty of Commerce and Management Studies, University of Kelaniya., 2023) Dias, D. S. M.; Wijesinghe, M. R. P.; Madhushani, P. W. G.The initial public offering is an important milestone for a company; however, this can be also turned into a reason which causes great wealth loss as well. The purpose of this study is to identify the factors affecting IPO initial return and examine the level of underpricing that prevails in the Colombo Stock Exchange (CSE). The study considers 68 IPOs from 2006 to 2018. The selected factors for the study are ASPI Return, Sector Price/Earnings ratio, Age, Earnings Per Share, Debt Ratio, Net Asset Value, Return on Asset, Price/Earnings Ratio, Debt/Equity Ratio, Offer Price, and Over Subscription Rate. Multiple regression results reveal that ASPI return and over-subscription rate are positively influenced by market-adjusted initial return (MAIR) and offer price is negatively affected. Underpricing analysis revealed that the MAIR and the prevailing level of underpricing is raw initial return equal to 14% and market-adjusted return is 18%. The beverage, food, and tobacco sector, Banking, Finance, and Insurance sector, and diversified holding sector are identified as highly underpriced sectors of CSE. It is recommended that Investors must consider capital market variables and IPO variables for IPO investment decisions regardless of the financial indicators of the company.Item Factors Influencing Consumer Buying Decision towards Herbal Products in Monaragala District, Sri Lanka(Faculty of Commerce and Management Studies, University of Kelaniya., 2023) Suriyage, R. D. S. D.; Leon, S. A. J.Appeal towards herbal products is increasing these days, because consumers become conscious about natural ingredients and harmless offers. This study aims to identify the influencing factors on consumer buying decision towards herbal products. This is a quantitative study which gathered data from 200 customers from Monaragala district, Sri Lanka using snowball sampling technique. The data were analyzed by using descriptive, correlation and multiple regression analyses. Findings of the study show that there is a strong positive relationship between independent variables (health conscious, social influence, product price, perceived value, trust) and consumer buying decision. Also, highlights that health conscious, social influence, product price, perceived value, and trust have significantly impact on consumer buying decision. Among the independent variables, social influence is the most influencing factor on consumer buying decision. This study will be helpful to the consumers to make effective decision during the consumption process and to the companies to place their strategies effectively.Item Facets of Gender Stereotypes Change: A Systematic Literature Review(Faculty of Commerce and Management Studies, University of Kelaniya., 2023) Priyashantha, K. G.; De Alwis, A. C.; Welmilla, I.This systematic literature review paper highlights the definitions, dimensions, and various outcomes associated with the changing gender stereotypes. Using PRISMA article selection guidelines, Sixty articles were selected that were published during the 1970-2020 period in Scopus and LENS.ORG databases. The results found that the definition of people’s attitudes towards adopting the culturally defined social role of the opposite biological sex is ideal for being globally applied. The most used dimensions found in studies are agency and communion. Depending on the surface nature of gender stereotypes change outcomes found, only a few outcomes are favorable to the economy. There are more negative related outcomes in the family, work, and health clusters. It implies that future research needs to consider overcoming these adverse outcomes. Besides, a gap was identified in gender stereotype change in the technology landscape, and future research needs more focus on these areas. Moreover, the definitions, dimensions, and consequences synthesized in this paper provide insights to build an extended theoretical foundation for gender research in the future. This study had a limited number of articles inclusion because only two databases were selected for article retrieval.Item Plastic Use Among Sri Lanka's Metropolitan Population: A Study of Environmental Consciousness and Behaviour(Faculty of Commerce and Management Studies, University of Kelaniya., 2023) Malkanthie, M. A. A.; Herath, H. M. C. J.; Galdolage, B. S.This study seeks to evaluate customers' purchase and disposal patterns for plastic and polythene and whether their environmental consciousness matches with actual behaviour. Data were collected from 117 households in metropolitan areas in Sri Lanka and analysed using descriptive statistics and paired sample t-test. Before data analysis, the scales' reliability and validity were evaluated. Findings showed a significant gap between actual behaviour concerning plastic consumption and environmental consciousness. Although most customers have positive opinions regarding environmental awareness, these beliefs have not necessarily converted into the corresponding behaviour to the same degree. As per results, 39% of the respondents burn their waste, including plastics, in open, while 4% have engaged in open dumping. The findings of this study can be taken into consideration to minimize the harmful effects of plastic and polythene disposal behaviour in Sri Lanka through an understanding of consumers’ actual behaviours. Especially relevant authorities shall initiate awareness campaigns and proper garbage disposal systems.