International Conference on Business and Information (ICBI)
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Item Impact of Export Diversification on Economic Growth: Evidence from Developing Countries of Asian Region(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) De Silva, M.R.V.; Perera, L.A.S.; Hewage, J.K.Export-led growth strategy has become a major concern of economic policymakers of developing countries to achieve their economic growth objectives. In this respect, the effect of export diversification has a major role to play in achieving higher and sustainable economic growth. The main focus of this study is to understand the impact of export diversification on the economic growth in developing countries of the Asian region and to identify the most suitable export strategy to achieve higher economic growth. The export herfindahl concentration index is the main variable used in this study as a proxy to measure the effect of export diversification and concentration on economic growth. The Study has employed the GMM panel estimation method to analyze the data of 33 developing countries in the Asian region from 1995 to 2019 at an annual frequency. The study has found a negative and significant relationship between the export herfindahl concentration index (H) and the GDPPC growth of the selected developing countries, which implies that there is a positive impact of export diversification on economic growth. In light of the findings it can conclude that export diversification may lead to higher and sustainable economic growth in developing countries of the Asian region.Item Factors Affecting the Behavior of Investors: Empirical Study Based on Colombo Stock Exchange(Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Fernando, C.S.P.K.; Weerasinghe, W.D.J.D.; Perera, L.A.S.; Weerarathne, D.I.The primary motivation of this research is to examine the investment selection factors which the investors expected to consider as important in an investment decisions and to rank the factors accordingly based on Colombo Stock Exchange (CSE), and to find out whether the investors consider the same pattern of investment selection factors in making the real investment decision. Data for the study were collected from 50 individual retail investors in the Gampaha district through a questionnaire by using convenience sampling. To analyze the data the researchers have used frequency table and descriptive analysis technique. It was found that, investment selection factors that investors expect to consider, the most important in making an investment decision are; past performance of the stock, Stock brokers’ advice, Company reputation, Company earnings and for quick selling purposes. Further, in making the real investment decision, the highest frequency of the investment selection factors considered are; past performance of the stock, Stock brokers’ advice, advice from others, for quick selling purposes and to get benefits. Sri Lankan investors seem to be under confident, uncertain and are very sensitive to others’ reactions and opinions. The most common determinants that have a significant impact on the investors’ behavior are past performance of the stock, Stock brokers’ advice, advice from others and for quick selling purposes.Item Credit Risk Management and Shareholder Value Creation: With Special Reference to Listed Commercial Banks in Sri Lanka(Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Perera, L.A.S.; Morawakage, P.S.The main aim of this study is to investigate the effect of credit risk management on the shareholder value in listed commercial banks in Sri Lanka. The research has used only the secondary data for the purpose of the analysis and the sources of data include the annual reports of selected quoted public banks in Sri Lanka. This study employed return on shares to measure the shareholder value while non-performing ratio, capital adequacy ratio and loans to deposits ratio have been used as the indicators of the credit risk management of the banks. Regression models were employed to do the empirical analysis. Further the output obtained from the SPSS package was used to interpret the findings. The findings reveal that credit risk management has a significant effect on shareholder value in all eight banks. Among the three credit risk management indicators, Non-Performing Loan Ratio (NPLR) has the most significant effect on the return on shares. Through the results of the study, it can be concluded that null hypothesis can be rejected since there is a significant relationship between credit risk management and shareholder value.Item Trading strategies in the Colombo Stock Exchange in Sri Lanka: Day of the Week Effect(Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Narasinghe, N.M.I.K.; Perera, L.A.S.Trading strategies in the stock market lead against the Efficient Market Hypothesis which is introduced by Fama in 1970. Colombo Stock Exchange is not even touched the weak form, semi Strong form and Strong form market efficiencies. Therefore the investors have the opportunity to use trading strategy as earning strategy .Seasonality effects are very famous in the stock market and Day of the week effect gives the fruitful idea towards them. The day-of-the-week effect was first observed by Fields (1931) and in US market and thereafter more researchers have tested the Day of the week effect in several market and revealed different results from each and every market. Accordingly time to time they had come up with new concepts. This research evaluated the total sample period and revealed that Day of the week effect exists in the CSE as per the model we used. Furthermore we revealed that day of the week effect exists in the share market throughout the pre-war period as well as the Post war period. However in the post war period Friday return is more positive than the pre-war period and Monday reflects the negative return in both period and the negative return seems to be expand during the post war period. Accordingly through this research we focus to enrich the investor’s understanding about the share price movements and support to forecast the future stock price movements in relates to this anomaly. This will be most useful for the speculators to gain the entire advantage of the short transactions. Because we analyze the reliability of the buying and selling decisions by affecting the day of the week effect. Further we have analyze the results by adjusting the trading cost. It will provide more reliable information to the investors to come across suitable decisions.