IJCBR - 2023 | Volume 2 | Issue 1
The Causal Relationship between Government Revenue and Expenditure in Sri Lanka
Piyumalee T. , Kumanayake N.S.
Abstract – The fiscal policy is an important component of the macroeconomic stability in any country. Economies have to struggle with many economic challenges, when there are huge budget deficits over the period of time. Therefore, it is very much important to reduce the budget deficit while increasing revenue and reducing expenditure. In order to accomplish that purpose, identifying the interrelationships and interdependencies between revenue and expenditure is necessary. The main purpose of the study is to examine the causal relationship between government revenue and government expenditure in Sri Lanka over the period from 1980-2021 using Granger Causality test and Vector Error Correction (VEC) model. The empirical results show that there was no causal relationship between government revenue and expenditure, in other words, no unidirectional or bidirectional relationship between these two variables. Since this finding is contradictory with the previous findings further analysis has been suggested.
Keywords: Government Revenue, Government Expenditure, Vector Error Correction Model, Granger Causality Test
Legal Protection Afforded to Lessees: A Critical Analysis of Vehicle Leasing Law in Sri Lanka
Abstract – The finance leasing sector in Sri Lanka has developed rapidly as it caters lowincome people. The Finance Leasing Act No 56 of 2000 (FLA) was passed to govern the finance leasing sector, separating it from hire purchase which was governed under the Consumer Credit Act No 29 of 1982. The research mainly examines the existing law, its implementation and whether it provides protection to the parties in Sri Lanka. The research detects the gaps in the law and makes recommendations to the existing law to foster better protection to the parties, mainly the lessees. This is done on the basis of a comparative analysis of Vehicle Leasing Law prevailing in the jurisdictions of the US and Australia.
Keywords: Finance leasing, protection of Lessees
An Investigation of the Impact of Psychological Factors on Investment Intention among Retail Investors in Colombo Stock Exchange in Sri Lanka
Abstract – In the recent past, there has been an increase in retail investors’ participation in the stock market. However, whether they engage in stock market investments with an understanding of the investment objectives is questionable. In fact, most of them fail to understand their investment objective. Within this backdrop, this research study aims to understand the impact of attitude, subjective norms & financial selfefficacy on the investment intention of retail investors in the Colombo stock exchange in Sri Lanka. Data was collected from 200 individual investors in the Colombo stock exchange by distributing a self-administrated questionnaire. The research findings reveal that attitude and subjective norms have a significant positive impact on Investment Intention and financial self-efficacy does not have a significant impact on Investment Intention. Further, the study also provides valuable managerial implications regarding psychological factors that impact the investment intention of retail investors which investment advisors need to take into consideration in providing investment advice to retail investors and in crafting awareness programs about investments in stock markets.
Keywords: Stock Market Participation, Investment Intention, Subjective Norms, Attitudes, Financial Self-Efficacy
Impact of Emotional Intelligence on Organizational Citizenship Behavior of Staff Employees: Selected ABC Bank Branches in the Colombo District
Guruge S.Y. , Yapa C.G.
Abstract – Any organization’s success or failure is highly dependent on the performance and behavior of its employees. Their patterns of behavior run like a fabric through the entire machinery of the organization. Employees who performed beyond their organizational expectations have such behaviors called “Organizational Citizenship Behavior”. Prior literature has demonstrated that the staff employees’ low level of organizational citizenship behavior has had an impact on different negative consequences within the organization. Further, the researcher has discovered that when employees improve their emotional intelligence, they can enhance their organizational citizenship behavior simultaneously. Therefore, this study was conducted to evaluate the impact of emotional intelligence on the organizational citizenship behavior of Staff employees of ABC Bank branches in the Colombo District. The total staff employees of all the ABC branches in the Colombo District were identified as the total population of this study, and a sample size of 320 staff employees was selected bythe researcher. The sample size was selected by using the convenience sampling technique. The quantitative data were analyzed by using descriptive statistics and inferential statistics through SPSS software. Further, this study’s conceptual framework was also identified as a fitted model. Finally, the researcher has suggested some recommendations for staff employees to improve their emotional intelligence dimensions in a significant manner.
Keywords: Emotional Intelligence, Emotional Quotient, Organizational Citizenship Behavior, Self – awareness, Relationship management
The Impact of Organizational and Technological Barriers on Implementing GSCM Practices in the Food and Beverage Manufacturing Industry in Sri Lanka
Chanchala B.T. , Joseph S
Abstract – Sri Lankan businesses can anticipate cost savings and greater customer value from the efficient implementation of green supply chain techniques. The food and beverage sector is crucial for promoting pollution-free goods and reducing their negative effects on the environment. This study was carried out to ascertain whether organizational and technological barriers had an impact on the adoption of GSCM techniques in Sri Lankan food and beverage manufacturing companies. Based on the literature, this study assumed that those two factors are the most impactable factors on the dependent variable, and has only tested them rather than considering operational, financial, and other aspect. An online survey was used to gather primary data, which was then processed through the statistical analysis program SPSS (Statistical Package for the Social Sciences). According to the study’s findings, both independent variables—organizational and technological factors—have a huge impact on how well GSCM procedures are implemented. Therefore, we can finalize that those two are highly influential barriers on implementation of GSCM practices. Considering the results, the researcher recommends that Sri Lankan food and beverage manufacturing companies take action to overcome those barriers and implement GSCM practices in their organizations. Moreover, some areas for future studies are also provided in this growing field.
Keywords: GSCM practices, Organizational barriers, Technological barriers
Why Don’t Migrant Workers Send Money to their Folks Back in Sri Lanka Anymore?
Abstract – The Sri Lankan economy is heavily dependent on migrant remittances as an economic survival strategy. As per the Central Bank Flow of Foreign Remittances to Sri Lanka Report for the period 2015 – 2022, there has been a drastic decrease in the remittances from Sri Lankan expatriates during the period 2020 -2022 which has resulted in negative economic consequences to the country. This paper aims to find out the main motivating factors which drive Sri Lankan migrant remittances and the main reasons behind the decline in migrant remittances to Sri Lanka. Accordingly, 25 Sri Lankan migrants employed in various foreign nations were interviewed to identify the main reasons for the decline in migrant remittances. Based on the research findings it was established that migrant losing ties with the family back home, the number of dependent family members of the migrant back in Sri Lanka decreasing with time, the home currency depreciation which results in the amount of foreign currency required to finance the needs of the family members back home decreasing, lack of favorable policies for foreign remittances, and the lack of trust in the Sri Lankan government are the main reasons why Sri Lankan migrants have reduced their remittances to Sri Lanka.
Keywords: Migrant Remittances, Self Interest, Pure-Altruism, Tempered-Altruis
Estimating the Marginal Productivity of Roads and Vehicles in Sri Lanka
Shaja M.M.M. , Sobika M. , Bandara Y.M.
Abstract – Roads are a vital component of the transportation system, and Sri Lanka is experiencing rapid development in all classes of road networks. The introduction of expressways has been one of the recent additions to Sri Lanka’s road network. The Road Development Authority has plans to extend highways to cover the entire island in the near future. Road networks play a significant role in national development and contribute to the overall performance and social functioning of communities. They enhance mobility, lifting people out of isolation and poverty, which explains the increasing preference for road usage due to the various benefits it offers. This study focuses on Sri Lankan highways, particularly three types: A class, B class, and E class. The research aims to estimate the marginal productivity of roads in Sri Lanka while considering provincial GDP, vehicle stock, and road stock. Additionally, the study aims to identify the long-term responses of GDP to potential increments. Specifically, the selected A and B class roads connect major districts in Sri Lanka and serve transportation needs in sectors such as agriculture, industry, and services. The study covers GDP, road stock, and vehicle stock from 2005 to 2020 across the country’s nine provinces. Data for the research was collected from the Central Bank of Sri Lanka (CBSL), Road Development Authority – Sri Lanka, and Ministry of Transport and Highways – Sri Lanka, providing relevant and accurate secondary data. The collected data were analyzed against various variables to achieve the research objectives. Regression analysis was utilized to identify the relationships and estimate the impact of variables. Furthermore, GDP values were estimated by categorizing vehicles and roads into several types. Regression analysis offers insights into how changes in variables impact the unit of GDP.
Keywords: Marginal Productivity, Highways, Road network in Sri Lanka, Gross Domestic Product
The Effect of Motivations on Ecotourism Intention and Willingness to Pay Premium for Ecotourism: A Conceptual Paper
Weerasekara D. , Assella P.
Abstract – Sustainable consumption has been a popular topic in tourism research and ecotourism has been identified as a form of sustainable consumption. Yet, recent literature emphasizes that there is an ambiguity on ecotourism consumption as actual pro-environmental behaviors deviate from the intentions. Further, it is identified that ecotourism offerings are higher in price and discourage ecotourism consumption. Hence, this study offers a conceptual look at further examining ecotourism consumer behaviors focusing on motivation, ecotourism intention, and the actual behavior. Among the consumer behavioral theories, self-determination theory was identified as a prominent theory to discuss motivation on ecotourism consumption intention. However, it fails to discuss the actual behavior. To address this theoretical gap, the proposed framework further explains self-determination theory; intrinsic and extrinsic motivation on ecotourism intention and thereby willingness to pay premium. The current study contributes to the existing literature on ecotourism consumption by incorporating ecotourism intention as a mediating variable on the relationship between intrinsic, extrinsic motivation and willingness to pay premium. Further, significant practical implications are provided for ecotourism providers, marketers, policymakers, and other decision-makers for planning and developing ecotourism offerings to encourage and ensure sustainable tourism consumption.
Keywords: Ecotourism, Ecotourism Intention, Extrinsic Motivation, Intrinsic Motivation, Tourist Behavior, Willingness to Pay Premium
IJCBR 2022 | Volume 1 | Issue 1
What Drives Innovation Performance? A Study of Sri Lankan Software Development Industry
Chamil Wickrarama Arachchi, Duminda Kuruppuarachchi
Abstract – This study investigates the impact of market orientation and R&D and knowledge management practices on innovation performance of Sri Lankan Software Development firms. In this study, market orientation is considered as an antecedent for the overall relationship structure. We also test the roles of management style & leadership and resource support as driving forces of R&D management practices. A conceptual framework is constructed with the support of related literature. Research constructs are operationalized with existing psychometric instruments, which were already validated for their content. A disproportionate stratified random sample of 128 R&D managers and engineers involved in software development is selected from 32 firms, and an online survey is conducted using a structured questionnaire. Results reveal that direct positive effects of R&D and knowledge management practices are statistically significant on the innovation performance of the software development firm. Moreover, knowledge management, management style & leadership and resource support positively affect R&D management practice. Also, the antecedent role of market orientation is evident. Findings of this research provide an empirically validated framework to boost the innovation performance of the Sri Lankan software industry.
Keywords:Innovation performance, R&D management, Sri Lankan Software development industry, Market orientation, Knowledge Management
The Response Expectation of Organizational Culture on Technology-Assisted Supplement Work
Shehani Joseph, Aushadharie Vidanalage, Vageesha Rajapakse
Abstract – In this paper, the authors explored the impact that organizational culture has on the Technology Assisted Supplemental Work (TASW) of Sri Lankan knowledge workers. This study focuses on a challenge that managers of Technology-Assisted Supplemental Work (TASW) of Knowledge Workers in Sri Lanka must address by incorporating organizational culture-based response expectations. The organizational culture can be categorized into four main cultures Clan, Market, Hierarchy, and Adhocracy. In this study, those are considered as the independent variables where the dependent variable is the TASW which is meditated by response expectation. It is proposed to conduct quantitative research to test the hypothesis assumed by the authors.
Keywords: TASW; Response expectation; Organizational culture
Destination Management in Belfast A Visitor’s Perspective
Janith Iddawala, Rong Huang
Abstract – Despite the importance of tourists as a stakeholder in the overall tourism system, limited emphasis has been given in tourism research in exploring the importance of managing tourist perceptions on overall Destination Management. This paper, therefore, attempts to explore how Belfast has managed its tourism industry from a tourist’s perspective by emphasizing the cultural tourism aspect of the city using participant observations and a detailed secondary data analysis. The key findings of the paper identify that Belfast as a destination largely owes its success in the tourism industry to its cultural heritage in all its tangible, intangible, and contemporary forms as it has functioned as a focal point in attracting tourists to the city. It is also evident that the city’s DMO [i.e. Visit Belfast] has understood the importance of visitor perspectives in Destination Management and has consistently taken steps to cater to the needs of the tourists effectively and efficiently. However, the city is currently at a phase where it needs to consider adopting sustainable practices to achieve its ambitious goals and sustain its tourism industry in the long run. The paper provides recommendations for destinations like Belfast to carry out destination development based on the three main pillars of the Triple Bottom Line.
Keywords: Destination Management, Visitor Experience, Cultural Tourism, Sustainable Development
The Impact of Lecturer – Student Relationship on Self-Esteem of Undergraduates A Case From Sri Lanka
Shehani Joseph , Thilini De Silva
Abstract – Self-esteem plays a significant role in satisfaction. This research studied the impact of the lecturer-student relationship on the self-esteem of undergraduates at a university in Sri Lanka. A quantitative research approach was used, and the data from fourth-year undergraduates in the university have been gathered through 121 responses via Google Forms. Rosenburg’s Self-esteem scale and lecturer-student relationship scale were used in developing the survey questionnaire. The study found that when the lecturer-student relationship increases, the self-esteem of an undergraduate can also be increased. Further research studying how academics perceive the student-lecturer relationship in order to improve the self-esteem of students is recommended through this research.
Keywords:Lecture-student relationship, Self-esteem, Rosenberg Self-esteem scale
Factors Affecting Fintech Acceptance in Sri Lanka
Dhanushka Piyananda , Chandana Aluthge
Abstract – The purpose of this research is to identify the factors that affect consumers’ Fintech acceptance in Sri Lanka Based on the theory of Scenarization of Finance and some of the models developed in the information system field such as the Technology Acceptance Model, Unified Theory of Acceptance and Use of Technology, and Risky Technology Adoption models digital accessibility, digital capability, convenience, social influence, personal innovativeness, security concerns, and price value variables were selected as the significant variables for the proposed research framework. Structural Equation Model was used as a statistical test with SmartPLS software. The data source in this research is 440 primary data collected from Fintech banking services consumers. The results of the statistical analysis demonstrated that the level of scenarization of finance, measured in terms of digital accessibility, digital capability, and ease of use is a key concern when determining the adoption intention of Fintech services. Further, both social influence and price value have a significant negative impact while personal innovativeness creates a significant positive impact on consumers’ adoption intention. Also the study revealed that security concerns are having a negative impact, but the impact is not significant in the Sri Lankan context.
Keywords:Fintech, adoption intention, TAM, UTAUT, RAT, Scenarization of finance
Presilience for Enhancing Organizational Adaptive Performance within the Sri Lankan Private Sector
Bhagya Jayawickrama, Ganga Karunathilaka
Abstract -The Sri Lankan private sector plays a vital role in the economic development of Sri Lanka, and these organizations are constantly faced with unpredicted circumstances. In this rapidly changing world, being prepared to effectively face and adapt to unexpected crises is an absolute requirement. Therefore, identifying new concepts for enhancing organizational adaptive performance within the Sri Lankan private sector is essential. This study attempts to understand the impact of the newly developed concept of presilience and its contribution towards enhancing organizational adaptive performance (OAP) within the Sri Lankan private sector. The survey questionnaire of the study collected information regarding three independent variables: Openness (OS), Emotional Stability (ES) and Critical Decision Making (CDM) of 180 respondents, which were then analyzed using partial least squares path modeling (PLS) to test the study’s hypotheses. The research data analysis reflected that all three variables (OS), (ES) and (CDM) have a positive relationship towards the dependent variable (OAP).
Keywords:Openness (OS); Emotional Stability (ES); Critical Decision Making (CDM); Organizational Adaptive Performance (OAP)