Commerce and Management
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Item The Impact of Product Diversification and Insurance Activity to Insurance Industry Performance: Moderating Effect of Insurance Penetration: Evidence from India, Pakistan, and Sri Lanka(Department of Finance, University of Kelaniya., 2024) Rathnasiri, S. M. H. G.; Buddhika, H. J. R.Purpose: The research focused on the insurance industry performance of India, Pakistan & Sri Lanka were supposed to find the impact of product diversification and Insurance activity towards industry performance measured by ROE. Further insurance penetration is considered a moderating variable and objectives same as mentioned above. Product diversification and Insurance activity are key indicators of the insurance industry and insurance penetration is a key indicator of country performance measurement. Methodology: This quantitative study considered countries of Sri Lanka, India, and Pakistan in the South Asian Region and considered the period data from 2012 -2022. The highest developed first three countries were considered for evaluation purposes and diversified (companies operating in both Life & General) insurance companies from each country. Findings: Both product diversification and insurance activity exhibit negative correlations with insurance industry performance, indicating that increasing either factor may result in lower financial performance for insurers in these countries. Furthermore, insurance penetration significantly moderates the relationship between product diversification and insurance industry performance. The three hypotheses formulated and stated that impact is negative for product diversification and insurance activity. Further stated that insurance penetration moderated the insurance industry's performance. Conclusion: The findings underscore the importance of prudent strategic planning and management for diversified insurance companies in India, Pakistan & Sri Lanka. Diversified insurance firms are advised to carefully weigh the trade-offs between diversification and profitability. While diversification can mitigate risk, it may also lead to diminishing the returns in long run.Item Efficiency and Performance of Microfinance Institutions: A Systematic Literature Review(Faculty of Commerce and Management Studies, University of Kelaniya., 2023) Herath, H. M. A. K.; Azeez, A. A.; Priyashantha, K. G.This study was conducted to find out common knowledge in the empirical literature pertaining to the performance and efficiency of microfinance institutions (MFIs), as well as the areas that require more attention for future research. The systematic literature review (SLR) technique was applied and the article selection and findings were reported according to the PRISMA guidelines. 69 empirical journal articles between 2013 and 2023 were included from Scopus database. (1) Efficiency of MFIs (Financial & Social efficiency) (2) performance of MFIs (Social & Financial Performance), (3) sustainable performance of MFIs, were identified as the three most common knowledge clusters. The review established that efficiency and conventional performance analysis of MFIs differ in methodologies and perspectives. Further, it was found that performance assessment, efficiency measurement, productivity, sustainability, and outreach of MFIs are infrequently investigated areas. Financial efficiency, social efficiency, financial performance, and social performance of MFIs were also identified as averagely investigated, creating avenues for more future studies. Thus, the study emphasized the need for further research diversifying perspectives on overall MFI performance to ensure lasting success.Item Impact of Financial Management Practices on Performance of Small and Medium Enterprises – Legitimacy Theory Perspectives(Faculty of Commerce and Management Studies, University of Kelaniya., 2021) Tharmini T.; Lakshan A.M.I.The study aims to find out the impact of financial management practices (FMPs) on performance of Small and medium enterprises (SMEs) in Sri Lanka from the lens of the Legitimacy Theory. Primary data was collected from the SME owners/managers. Self-administered questionnaires were issued to collect data. The sample was selected through stratified simple random sampling method from the registered SMEs. Data were analyzed and evaluated by using Descriptive Statistics, Independent sample t-test, Correlation analysis and regression analysis. The results revealed that Accounting Information System, Financial reporting and analysis has moderate level adoption, Working capital management has high level adoption and Financial planning and control has low level of adoption in SMEs. Further, Financial reporting and analysis and Working capital management is significantly impact on the performance of SMEs. Accounting Information system and financial planning and control is not significantly impact on performance of SMEs. The findings revealed that there is a significant difference in the application of FMPs among small sized enterprises and medium sized enterprises. FMPs are highly applied by medium sized enterprises than small sized enterprises. The study also found out that lack of accounting knowledge and cost of hiring professional accountants are the major challenges faced by SMEs to adopt the FMPs. Eventually, this study recommends to SME owners to adopt FMPs (at a higher level) and government and other regulatory bodies to create suitable policies and standards to mitigate the challenges. SMEs practice important FMPs to obtain the society's impression as social responsible organizations (in terms of legitimacy within ‘social contract’). Accordingly, application of FMPs aims to legitimise company behaviour by ensuring the profitability, survival and growth to influence the society’s perceptions about the SMEs by way of higher number of employments, use of domestic raw materials and payment of taxes. This study contributes to the theory by bringing in SMEs perspectives in to the Legitimacy theory. Further, it contributes to practice and literature by carrying new insights on the impact of FMPs on performance of SMEs in the Sri Lankan context.Item IMPACT OF EMPLOYEE RECOGNITION ON EMPLOYEE ENGAGEMENT WITH MEDIATING EFFECT OF INTRINSIC MOTIVATION: A STUDY OF MARKETING STAFF AT XYZ FINANACE COMPANY IN SRI LANKA(Department of Human Resource Management, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2025) Devindi, M. P. H. T.; Welmilla, I.The purpose of this study was to examine the impact of employee recognition on employee engagement with mediating effect of intrinsic motivation among marketing Staff at XYZ Finance Company in Sri Lanka. This study employed a quantitative research approach with a cross-sectional survey design to examine the impact of employee recognition on employee engagement, with intrinsic motivation as a mediating factor. The target population consisted of marketing staff at XYZ Finance Company in Sri Lanka, totaling 180 employees. Using Morgan’s sample size table, a sample of 123 employees was selected through a proportionately stratified sampling, followed by simple random sampling to ensure equal representation. For data analysis, reliability analysis, correlation, and ANOVA were conducted to examine relationships between variables. Hayes' PROCESS macro was used for mediation analysis to assess the indirect effect of intrinsic motivation on the relationship between employee recognition and engagement. The study revealed that employee recognition significantly impacts employee engagement and intrinsic motivation partially mediates this relationship, with a significant indirect effect. As a recommendation, organizations should identify ways to motivate employees, which in turn boosts engagement. Practical implications emphasize the need for organizations to design tailored recognition programs that meet employees' intrinsic and extrinsic needs to enhance retention and performance. This study contributes to the limited literature on employee engagement strategies within Sri Lanka's finance industry, with recommendations for expanding research into diverse sectors and generations to validate and extend the findings.