Commerce and Management

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Author: search.filters.author.Dissanayake, S.

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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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    Analyzing the Impact of Behavioral Biases on Stock Investment Decision Making: Evidence from Sri Lanka Individual Investors at CSE
    (Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2023) Dissanayake, S.; Perera, W.T.N.M.
    The objective of this study is to analyze the impact & relative importance of several prominent behavioral finance variables covered by the behavioral financial literature (overconfidence, loss aversion, risk perception, and herding) on stock investment decision-making at the Colombo Stock Exchange (CSE). This study's significance stems from the fact that local studies focusing on behavioral finance are rare, and thus the researchers believe that such research will raise awareness in this domain. A total of 303 active individual investors who actively traded on the Colombo Stock Exchange during the research period were included in the study. Following authorization of the questionnaire's reliability and validity, data were collected using a Likert scale questionnaire and analyzed using descriptive statistical tests, factor analysis, correlation analysis, multiclonality test, and paired sample T-test using SPSS software. The findings revealed that behavioral finance observed variables have an impact on the Colombo Stock Exchange, as represented by four behavioral factors influencing individual investors' investment decisions: overconfidence, loss aversion, risk perception, and herding. According to the findings, the variables Risk perception and Loss aversion had the highest impact and relative significance on the individual investor's investment decision-making at CSE. The study made recommendations for CSE investors to use scientific bases when making stock investment decisions, as well as need further research on the impact of behavioral finance on the several types of risks and yields at CSE.