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Item Determinants of Financial Literacy: with Special Reference to Consumers in Financial Service Industry(Department of Marketing Management, University of Kelaniya, Sri Lanka., 2020) Kumari, D. A. T.The financial literacy is a key dimension which determines the demand of the financial services in the economy. However, most of the previous studies and financial decision makers believe financial literacy in different perspectives. Therefore, it is timely important to identify the main determinants of the financial literacy among potential customers in financial service industry. Accordingly, present study is mainly focused on identifying and verifying the key determinants of the financial literacy in the customer’s point of view in the financial service sector. The study adopted the positivism epistemology and quantitative approach. At the initial phase of the study, the extensive literature review was carried out with the purpose of identifying the determinants of financial literacy. In the second phase, a survey was conducted among 500 potential financial services customers representing nine provinces in Sri Lanka, with the assistance of a researcher administrated questionnaire. The sample was selected based on the multilevel mixed sampling method and the unit of analysis was the head of households in Sri Lanka. Furthermore, a partial least squares structural equation model (PLS-SEM) was employed as the principle data analysis approach, and Smart PLS 3 was employed as the main analytical software. Degree of financial literacy was tested based on 22 items identified by previous researchers and Principle Component Analysis was employed to determine the key factors of financial literacy. The reliability of scales was measured by Cronbach’s Alpha coefficients. The findings revealed that in general, all financial literacy dimensions have significant impact to determine the level of financial literacy. However, when it considers under separate dimensions, financial knowledge is the most significant determinant among the other determinants to determine the level of financial literacy. Therefore, researcher concluded that financial knowledge can be considered as a main determinant of financial literacy among potential customers of financial services in Sri Lanka. And the financial awareness is identified as the least significant determinant. Finally, the researcher provides some suggestions for marketing practitioners of financial service industry and government policy decision makers to develop financial literacy level by promoting financial knowledge for absorbing more consumers towards formal financial system and products of financial services.Item 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.Item Investment Behavior among Accounting / Finance Professionals in Sri Lanka(Department of Finance, University of Kelaniya., 2022) Alles, L.; Lokeshwara, A.; Liyanage, D. L. N. Y.; Edirisinghe, C. M.; Siriwardhana, P. K. K. H.Purpose: Investigating investment behavior of rational investors is crucial, as it helps to determine the performance of financial markets and will be more valuable to policymakers and financial providers. This study examines the investment behavior among finance/accounting professionals in Sri Lanka, considering the aspects of socio-economic and demographic factors, financial risk tolerance, concerns, and motives. Methodology: The study was conducted with 150 chartered accountants who are currently residing within Sri Lanka, selected from the “Institute of Chartered Accountants of Sri Lanka” by using simple random sampling. Data was gathered through a questionnaire. The initial data analysis was done through frequencies and Pearson’s correlation, while Ordered Logit Regression was used for further understanding the results and to test the likelihood of outcomes. Findings: Concerns, motives, and financial risk tolerance levels depicted a positive and significant relationship with the investment behavior, whereas demographics and socioeconomic factors show a negative correlation. Originality: The current study focuses on financial professionals who are highly financially literate, and how their investment behavior is influenced, as there were only a few attempts that have been made to address topics relevant to the current study within Sri Lanka considering different respondent samples. However, there were no research studies found out analysing on investment behavior of finance/accounting professionals who can be more rational when taking their investment decisions than normal household individuals. Therefore, this study provides an in-depth analysis addressing these gaps.Item Financial Literacy and Investment Decisions: Evidence from Pakistan(Department of Finance, University of Kelaniya., 2022) Hussain, A.; Kijkasiwat, P.; Ur Rehman, H. K.; Ullah, M. Z.Purpose: This study investigates the key factors associated with financial literacy and examines the effect of financial literacy on investment decisions in Pakistan. Design/Methodology/Approach: The 504 samples were collected via a self-administered questionnaire. The study adopts both OLS and logistic regression techniques to analyze the data. Findings: The findings show that the significant factors which increase financial literacy are father education, father income and marital status. However, guardian occupation decreases financial literacy level. Additionally, the results show that financial literacy can enhance investment decisions. Originality/Value: This study is important to policymakers who can consider these statistically significant factors in efforts to enhance financial literacy as well as investment decisions in Pakistan.Item Exploring Financial Literacy Programmes Delivered by the Sri Lankan Microfinance Institutions: A Case Study Approach.(Faculty of Commerce and Management Studies, University of Kelaniya., 2019) Premarathne W.G.I.D.; Abeysekera R.According to the Global Financial Literacy Survey done by Standard & Poor’s Ratings Services, in 2014 only 35% of adults were financially literate in Sri Lanka. However, Microfinance Institutions (MFIs) were struggling to improve this rate and there is a dearth of research covering this critical area utilizing a qualitative approach. Thus, the purpose of this paper is to focus on the critical, yet an under-researched dimension of Microfinance (MF), the intercession of MFIs in delivering FL to the MF clientele focusing on profiles such as delivering channels, importance, constraints and strategies to address. The multiple case study method was used in this study as the research methodology. The data were gathered from a purposive sample using in-depth interviews. The findings show that channels of delivering Financial Literacy (FL) are Social Mobilization Programmes, seminars, training programmes, community committees, and credit societies, and the importance of delivering FL is; enhancement of human capital, the sustainability of industry and firm, upgrade new venture survival, client protection, social and economic empowerment and development. Further, the barriers to deliver FL; budget, industry competition, in active participation, attitudes of clients, the contribution of inactive regulatory bodies and external barriers were investigated with the strategies adopted in addressing barriers; community awareness, motivational strategies, regulatory framework and cost addressing strategies. These findings contribute to both the knowledge and practice domains. They have implications for policy makers in paying attention to make a financially literate clientele in the MF discipline.