Commerce and Management
Permanent URI for this communityhttp://repository.kln.ac.lk/handle/123456789/140
Browse
5 results
Search Results
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 Board Characteristics and Intellectual Capital Disclosures: Evidence from Sri Lanka(Department of Finance, University of Kelaniya., 2021) Chandraratne, K. A. D. P. M.; Pathirawasam, C.; Mohamed, M. S.Purpose: The purpose of this study is two-fold. First, to examine the state of intellectual capital disclosures. Second, to investigate the relationship between board characteristics and intellectual capital disclosures. Design: This study selected thirty non-financial listed companies with the highest market capitalization from the Colombo Stock Exchange in Sri Lanka. An intellectual capital disclosure index comprising 61 items was developed to understand the level of intellectual capital disclosure in the selected companies. Panel data analysis techniques were applied to test the proposed hypotheses. Findings: Results indicated that role duality and proportion of female directors have a significant and positive impact on intellectual capital disclosures. Firm leverage was found to have a significant and negative effect on intellectual capital disclosures. Insufficient empirical evidence between other corporate board characteristics and intellectual capital disclosure in Sri Lanka may be attributed to a non-mandatory corporate disclosure environment. Originality: This is among the few studies to examine the link between corporate governance and intellectual capital disclosures employing panel data in Sri Lanka. However, a discourse on the role of corporate governance and corporate disclosures is warranted in a small island developing economy with a fragile financial system like Sri Lanka. Future Research Directions – The study calls for more studies to investigate the relationship between corporate governance and intellectual capital disclosures in the case of Sri Lanka by employing data from different industries for longer periods.Item Market Anomalies, Assets Pricing Models and Stock Return: Evidence from Colombo Stock Exchange(Faculty of Commerce and Management Studies University of Kelaniya., 2024-11-01) Jayasinghe, J.A.G.P.; Pathirawasam, C.Exploring the factors determining stock prices and returns is an everlasting aspiration in the financial world. This research study aims to discover factors determining the stock return using market anomalies and asset pricing models for the Colombo Stock Exchange. The research relied upon secondary data obtained from the Colombo Stock Exchange data library and the relevant accounting data are taken from published annual reports of respective listed companies. The sample includes all common stocks except the financial sector quoted on the Colombo Stock Exchange for at least five years between 2010 and 2023. Hypothesis testing will be used to identify market anomalies, and an asset pricing model will be tested using the detected anomalies with regression analysis. It is expected to present the best asset pricing model for Sri Lankan stocks to capture the cross sections of stock returns by incorporating the existing anomalies into the basic capital asset pricing model. The conclusions of this study will be useful to all parties interested in the stock market. This study is focused solely on risk variables and the Colombo Stock Exchange.Item Personal and Situational Factors on Consumer Financing Decisions, a Conceptual Model(Department of Commerce and Financial Management, University of Kelaniya, 2017) Lasantha, S.A.R.; Pathirawasam, C.Expected Utility Theory advocates that individuals make rational decisions. However it is not rare to see consumers deviate from rationality when making consumer credit decisions. Despite the financial literacy, individuals may tend to choose high cost consumer credit forms such as credit card as a mean of financing consumer goods and services which in fact suggests a deviation from economic rationality. The failure of Expected Utility Theory to explain and predict consumer credit decisions that deviate from rationality provide incentives to use an alternate theory; Prospect Theory which counts principles of perceptions and judgement that limit the rationality of choice. Accordingly this theoretical paper suggests personal factors; locus of control, social comparison and self-control and situational factors; life events and income may influence on consumer financing decisions.Item Financial Literacy and Credit Choice of Consumer Credit Users in Sri Lanka(Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Lasantha, S.A.R.; Pathirawasam, C.Financial literacy of individuals matters in credit decisions specially when choosing among different credit alternatives. This study investigates the financial literacy level of consumer credit users in Sri Lanka and their credit choice. For this purpose primary data was collected from 445 individuals using a survey instrument. Individuals have displayed a moderate level of financial literacy and it is found that there is no significant difference between the financial literacy levels of males and females. Despite the financial literacy level, most individuals have resorted to high cost credit cards compared to low cost bank borrowings. This may imply a behavior that deviate from the rationality. It demands further research to determine the possible factors affecting the deviation from rationality. Further this research finds that individuals below the age of 25 have lower financial literacy level. It may imply that they are susceptible to higher credit related risks.