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Environmental Accounting Disclosure and Financial Performance: Evidence from Listed Manufacturing and Service Sector Companies in Sri Lanka
(Faculty of Commerce and Management Studies University of Kelaniya., 2024-11-01) Naveendya, J.B.S.; Madhushani, P.W.G.
The most challenging environmental issues that the world is facing today are climate change and global warming, which stem from business operations. Hence, it is the responsibility of the business sector to protect the environment and society. Thus, the observation intends to examine the impact of environmental accounting disclosure on the financial performance of manufacturing and services sector companies listed in the Colombo Stock Exchange, Sri Lanka. The methodology was a quantitative survey approach involving a sample of 28 manufacturing and 17 service sector companies over consecutive financial years from 2012 to 2022. The content analysis technique was used to measure the level of environmental accounting disclosures. The Environmental Accounting Disclosure Index (EADI) was prepared based on eight environmental accounting disclosure items. The regression analysis revealed a significant positive impact of environmental accounting disclosures and the firm’s financial performance of manufacturing companies but not service companies. The results of this study will make it easier for regulators and those who prepare annual reports for highly environmentally sensitive industries to set the foundation for environmental accounting disclosure practices that lead to improved financial performance.
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Understanding GCC Banks: Credit risk, Interest Charges, and Operating efficiency
(Faculty of Commerce and Management Studies University of Kelaniya., 2024-11-01) Duppati, G.; Maamari, B.E.
This study empirically examines two research questions: First, whether the Credit Risk increases the operating efficiency of banks? And second, whether Interest Charges Influences the relationship between Credit Risk and Operating Efficiency? This study uses the secondary data and it is drawn from EIKON DataStream for the period 2005 to 2022. The sample size of the study includes 50 banks of the GCC region, covering eight states, which includes: Abu Dhabi, Dubai, Saudi Arabia, Sharjah, Kuwait, Oman, Qatar and UAE. For addressing the research questions raised in this study, we employ different regression techniques that include the fixed effects (FE) model and System dynamic panel-data estimation test to ensure robustness of the results. Our results show that high interest rates benefit the 25th and 75th percentiles, but the firm's ability to adapt, innovate, and restructure in response to the changing financial environment will determine how much they benefit lower efficiency quantiles. Banks that overcome these challenges may become more competitive, efficient, and streamlined. While higher interest rates increase financing costs and financial constraints for lower- efficiency banks, they can also spur good transformation.
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How Does Loss Aversion Mediate the Relationship between Personality Traits and Investment Decision-Making?
(Faculty of Commerce and Management Studies University of Kelaniya., 2024-11-01) Jayawardena, A.M.A.; Nanayakkara, N.S.
This research finds evidence of the mediating role of loss aversion in the relationship between personality traits and investment decision-making among individual investors of the Colombo Stock Exchange. In Behavioural Finance expected utility maximization is replaced by the Prospect Theory, and it emerges as a fundamental descriptive theory for the study, attempting to uncover the subtle interplay between big five personality traits— conscientiousness, extraversion, agreeableness, neuroticism, and openness to experience— - and investment decision making. The study employed a quantitative research approach utilizing a convenience sampling technique, with 351 individual investors contributing to the research. Data collection was carried out through a structured questionnaire. The study adopts a cross-sectional time horizon, and Structural Equation Modelling was used to analyze the data with the help of SmartPLS4 statistical software. The study identified significant relationships between personality traits and investment decision-making. Specifically, openness to experience and agreeableness were positively associated with investment decision-making, while extraversion, openness to experience, and conscientiousness were significantly related to loss aversion. Mediating analysis revealed that loss aversion fully mediates the relationship between extraversion and conscientiousness with investment decision-making, and partially mediates the relationship between openness to experience and investment decision-making. The study’s findings highlight that considering personality traits in investment decision-making can help financial practitioners in Sri Lanka and similar economies tailor investment strategies, improve investor education
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How Does Firm Specific Risk Impact for the Firm Performance of Insurance Industry in Sri Lanka
(Faculty of Commerce and Management Studies University of Kelaniya., 2024-11-01) Sooriyaarachchi, S.K.R.N.; Buddhika, H.J.R.
Risks and uncertainties unique to the operations and functioning of insurance businesses are referred to as insurance-specific risks. Thus, using a sample size of 27 companies, the study examines how these insurance-specific risks affect profitability in Sri Lanka over an 11-year period (2012–2022). Insurance- specific risk for independent variables has been measured using three variables: reinsurance, technical provisions, and underwriting risks. Firm performance was assessed using the return on equity as the dependent variable. The Ex-Post Facto Research Design, on which the study is based, makes use of previously gathered data. Their yearly reports provided secondary data for the study. The fixed effect regression model's findings demonstrated that, whilst underwriting risk had a negative and negligible effect on return on equity, technical provision risk and reinsurance risk had a negative and significant influence. According to the study's findings, the insurance companies listed in Sri Lanka will become less profitable as reinsurance and technical provision risks rise. According to the study, insurance companies in Sri Lanka should adequately account for unpaid claims by evaluating their liabilities and considering their experience in order to create a thorough process for efficiently tracking and managing their unpaid claims. Additionally, Sri Lankan listed insurance companies will take into account their risk retention ratios and reinsurance policies. Listed insurance companies must also improve their capacity to pay the majority of claims on their own.
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Why do Consumers Return Products?: Online Product Return Behavior of Young Female Consumers with Special Reference to the Fashion Industry in Sri Lanka
(Faculty of Commerce and Management Studies University of Kelaniya., 2024-11-01) Bandara, W.M.H.P.; Geethanjali, W.M.D.K.
E-commerce is getting increasingly popular around the world. Following the COVID- 19 epidemic, e-commerce in Sri Lanka surged considerably. The fashion industry is a well-known industry that sells products to consumers via online channels such as social media and websites. Young, tech-savvy female consumers are becoming increasingly important in online retailing specifically in the fashion industry. Online product returns are a relatively new field in the Sri Lankan setting, therefore researchers utilized qualitative methodology to study the unique phenomena. In this study, the researchers identified the factors influencing online product returns among young female (Gen Z) consumers in the Sri Lankan context. 20 semi-structured interviews were conducted with both buyers and sellers to gather data for the study. The purposive sampling technique is used to select the respondent for the study. A thematic analysis was used to analyze the interview data. Researchers categorized the factors under three main themes such as customer requirement mismatch, cultural issues, and late deliveries. In addition, the researchers discovered customer recommendations for online fashion retailers to reduce online product returns. Furthermore, the researchers explored the fraudulent practices of consumers such as intentional damage to the product by reviewing bad comments, not paying for the delivery, placing the order without paying upfront, and not buying the product. In addition to that, researchers identified recommendations from customers to retailers to reduce online product returns. The implications of this study will help online fashion retailers reduce product returns by understanding customer expectations.