Abstract Proceeding - 1st Intradisciplinary Conference of Management Researcherrs - (1st ICMR 2016)

1stIntradisciplinary Conference of Management Researchers
Innovation, Integration and Inspiration towards Sustainable Future

10th -12th August 2016 Sabaragamuwa University of Sri Lanka
1
Proceeding of the 1ST Intradisciplinary Confe

Conference of
Management Researchers
Innovation, Integration and Inspiration towards as
Sustainable Future
ICMR 2016
10th 12th August 2016

Faculty of Management Studies
Sabaragamuwa University of Sri Lanka
Belihuloya, Sri Lanka
Conference Committee of the 1st ICMR

Belihuloya
Sri Lanka
ii
Proceedings of the 1st Intradisciplinary Conference of Management

Researchers 2016
The material contained in this publication has been provided by authors of

research abstracts. Neither the Faculty of Management Studies of the
Sabaragamuwa University of Sri Lanka nor the Editorial Committee is
responsible for any material reproduced in this publication.
The correct bibliographic citation for this publication is as follows: Faculty of

Management Studies 2016. Proceeding of the 1st ICMR 2016 Conference.
Belihuloya: Sabaragamuwa University of Sri Lanka.
ISBN 978-955-644-051-
Copyright 2016 by the Faculty of Management Studies, Sabaragamuwa

University of Sri Lanka, Belihuloya, Sri Lanka
All rights reserved according to the code of Intellectual Property Act of Sri Lanka,
2003 Published by ICMR 2016 and Faculty of Management Studies.
Tel: +94 45 2280007
Fax: +94 45 2280007
August 2016
iii
PERFACE
The 1st Intradisciplinary Conference of Management Researchers (1st ICMR

2016) is organized by the Faculty of Management Studies, Sabaragamuwa
University of Sri Lanka for the first time from 10th to 12th August 2016 at the
Faculty Premises on the theme Innovation, Integration and Inspiration towards
a sustainable future. Ninety two peer reviewed research papers will be
presented under six tracks namely Human Resource Development &
Organizational Changes, Contemporary issues in Finance, Pragmatic Approach to
Banking & Insurance, Marketing Management, Tourism Policy & Planning, and
Sustainable Business Operations at this research conference. Eminent Professors
in the field of Management namely Professor Emeritus Sharan B. Merriam, Senior
Professor Henarath H.D.N.P Opatha and Associate Professor Jamaliah Abdul
Hamid will take part in the conference as keynote speakers. Registered
participants will get the opportunity to participate in the post conference tour on
12th of August 2016. This conference will serve as an ideal platform for the
researchers, academicians and practitioners to share their ideas and develop
collaborations and corporations in the sphere of Management.
iv
EDITORIAL BOARD
Dr. M. S. M. Aslam, (Editor in Chief/ Chair) Department of Tourism Management

Dr. D. A. I. Dayarathna (Co-chair) Department of Accountancy and Finance
Dr. Athula Gnanapala (Co-chair) Department of Tourism Management
Dr. Thilini Chathurika Gamage (Secretary) Department of Marketing Management
Ms. Randika Kapuge (Co-chair) Department of Marketing Management
Ms. Chrishangika Perera (Co-chair) Department of Business Management
Scientific Committee
Senior Prof. H. H. D. N. P Opatha University of Sri Jayawardenapura
Prof. Malcolm Cooper Ritsumaiken Asia Pacific University
Prof. Jeremy Buultjens Southern Cross University, Australia
Prof. Emeritus. Sharan B. Merriam University of New Georgia
Prof. Jamaliah Binthi Abdul Hamid Universiti Putra Malaysia
Prof. P. S. M Gunaratne University of Colombo
Prof. Dallen J. Thimothy Arizona State University, USA
Dr. Iraj Ratnayake Sabaragamuwa University of Sri Lanka
Dr. D. A. I. Dayarathna Sabaragamuwa University of Sri Lanka
Dr. Athula Gnanapala Sabaragamuwa University of Sri Lanka
Dr. M.S.M. Aslam Sabaragamuwa University of Sri Lanka
Dr. Wasantha Rathnayake Sabaragamuwa University of Sri Lanka
Review Panel
Dr. M.S.M. Aslam Sabaragamuwa University of Sri Lanka
Dr. D. A. I. Dayarathna Sabaragamuwa University of Sri Lanka
Dr. Athula Gnanapala Sabaragamuwa University of Sri Lanka
Dr. Iraj Ratnayake Sabaragamuwa University of Sri Lanka
Dr. Wasantha Ratnayake Sabaragamuwa University of Sri Lanka
Dr. W.M.P.S.B. Wahala Sabaragamuwa University of Sri Lanka
Dr. Thilini C. Gamage Sabaragamuwa University of Sri Lanka
Dr. Vilasini De Silva Sabaragamuwa University of Sri Lanka
Ms. L.M.C.S. Menike Sabaragamuwa University of Sri Lanka
Mr. D.G. Dharmarathne Sabaragamuwa University of Sri Lanka
v
Mr. D. Jasinghe Sabaragamuwa University of Sri Lanka

Mr. P.J. Jayathilake Sabaragamuwa University of Sri Lanka
Mrs. K.L.B.G. Dharmarathne Sabaragamuwa University of Sri Lanka
Ms. L.D. Kalyani Sabaragamuwa University of Sri Lanka
Mr. A.M.J. Aththanayeke Sabaragamuwa University of Sri Lanka
Mr. R.A.G. Bandara Sabaragamuwa University of Sri Lanka
Mr. H.M.C.G. Bandara Sabaragamuwa University of Sri Lanka
Mr. R.A.C. Ushantha Sabaragamuwa University of Sri Lanka
Mr. T.U.I Peries Sabaragamuwa University of Sri Lanka
Mr. H.R. Sampath Sabaragamuwa University of Sri Lanka
Mr. A.R.M.M Ratnayake Sabaragamuwa University of Sri Lanka
Language Editor
Mr. H.G. Piyasiri Sabaragamuwa University of Sri Lanka
Compiling and Formatting

Mr. I.A. Ekanayake Sabaragamuwa University of Sri Lanka
Ms. A.W. Thiranagama Sabaragamuwa University of Sri Lanka
Ms. A.W.C.G.N. Wijethunga Sabaragamuwa University of Sri Lanka
Mr. W. M. C. K. B. Wanigasekara Sabaragamuwa University of Sri Lanka
Ms. M. Vithiyalani Sabaragamuwa University of Sri Lanka
Technical Assistance
Ms. M. L. W. O. M. Karunaratne Sabaragamuwa University of Sri Lanka
Ms. T.M.N. Tharanga Sabaragamuwa University of Sri Lanka
Ms. G.K.M. Wickramarathne Sabaragamuwa University of Sri Lanka
Ms. J.A.R.C Sandaruwini Sabaragamuwa University of Sri Lanka
Ms. A.N.K. Jayaweera Sabaragamuwa University of Sri Lanka
E-Documentation and Web Administration

Mr. W. M. C. K. B. Wanigasekara Sabaragamuwa University of Sri Lanka
vi
1 TABLE OF CONTENTS
Preface iv
Editorial Board v
Towards a Sustainable Future: Managerial Reflections 1

Senior Professor H. H. D. N. P. Opatha
MOOC: A Sustaining or Disruptive Innovation in Higher Education? 13

Taking A Research Perspective
Associate Professor Jamaliah Abdul Hamid
Accountancy & Finance
Test of Uncovered Interest Rate Parity for Sri Lanka:Evidence from 15

LKR/GBP Rate
H. Kaushala & C. Rajapakse
Analysis of Dynamic Linkage of Stock Returns and Exchange Rates: 16

Comparative Evidence from Sri Lanka and India
A. W. G. C. N. Wijethunga & Dayaratne D. A. I.
Relationship between Financial Literacy and Financial Behavior of 17

Management Undergraduates of Sri Lanka
U. C. Edirisinghe & R. Amarasinghe
Effect of Institutional Excellence on Stock Market Development 18

T. U. I. Peiris
An Analysis of Capital Structure of Firms and Anomalies that Persist in 19

the Sri Lankan Context: An Empirical Study of Selected Firms Listed on
the Colombo Stock Exchange
Y. Jayasekara & D. A. I. Dayaratne
Technical Efficiency of Small Scale Vegetable Growers in Sri Lanka: A 21

Comparison of Parametric and Non-parametric Approach
A. A. Shantha
A Review on Triple Bottom Line Optimization for Sustainability in Supply 23

Chains
vii
K. R. H. L. Gunasekara
The Impact of ISFTA on Exporters in Sri Lanka 24

U. P. Wijewardene & H. D. Karunaratne
Information Content of Right Issue Announcements and Information 25

Efficiency in Sri Lankan Stock Market
D. G. Dharmarathna & C. Amarasekara
Foreign Direct Investment and Endogenous Growth: Evidence from 26

South Asian Countries
T .U. I. Peiris
Capital Structure and Financial Performance: Evidence from a Leading 27

Listed Commercial Bank in Colombo Stock Exchange
D. G. L. Rasika & I. P. Liyanage
Effect of Audit Committee Characteristics on Real Activities 28

Manipulation: Evidence from Nigerian Listed Manufacturing Firms
A.B. Mauda & D. A. I. Dayaratne
Influence of Macro-Economic Variables on Foreign and Local Trading 29

Behaviour in Colombo Stock Exchange
A. W. G. C. N. Wijethunga, D. A. I. Dayaratne & D. G. Dharmaratne
Relationship between Risk and Return in Colombo Stock Exchange: A 30

Beta Sorted Portfolio Approach
A. A. A. G. Kumara, D. A .I. Dayaratne & A. W. G .C. N. Wijethunga
Effect of Corporate Social Responsibility on Financial Performance with 31

Special Reference to the Hatton National Bank PLC
H. T. M. De Silva
Effect of Financial Development on Economic Growth: 32

Evidence from South Asian Countries
R. S. Hewage & T. U .I. Peiris
Banking and Insurance
Factors Affecting on Cross Selling of Dwelling House and Personal 34

Accident Insurance for Private Motor Car Policyholders in Sri Lanka
M. Vithiyalani & K. D. U. D. Fernando
Effect of Job Satisfaction and Job Stress on Perceived Job Performance of 35

Insurance Agents in Sri Lanka
viii
R. S. Hewage & A. A. M. D. Amarasinghe
Awareness of Insurance among the Students of the Faculty of 36

Management Studies, Sabaragamuwa University of Sri Lanka
K .A. D. K. H. Kahandawala, R. P. D. Jayasena, L. N. P. Perera,
S. P. K. D. Senanayake & K. D. U. D. Fernando
Popularity of Micro-insurance Mechanisms and the Poverty of Labourers 37

in the Tea Industry in Estate Sector
K. D. U. D. Fernando & G. Damayanthi
Farmers Perception, Awareness and Influential Factors towards 39

Insurance of Paddy Cultivation
S. S. Weedige
Determinants of Retention of Insurance Agents in Life Insurance 40

Industry in Sri Lanka
D. G. L. Rasika, W. S. Sanjeewa & T. Perera
Determinants of Insurance Policy Lapsation: A Case Study in AIA 41

Insurance PLC
T. Ranaweera & D .G .L .Rasika
Utilization of Media Mix for Life Insurance Industry in Sri Lanka 42

H. M. D. S. Wijenayaka
Technology Adoptability of Insurance Agents: A Case Study in Asian 43

Alliance Insurance PLC
L. H. I. Amali & D. G. L. Rasika
Influence of Bank Interest Rate on the Buying Behaviour of Life 44

Insurance Products: A Survey among Selected Households in Sri Lanka
S. K. Gamage
Perception of Insurance Professionals on Government Intervention for 45

Life Insurance Industry in Sri Lanka
S. K. Gamage
Financial Literacy and Success of Micro Business: Evidence from Small 46

Enterprises in Sri Lanka
W. A. R. Senevirathne & W. A. D. K. Jayendrika
Factors Determining the User Acceptance of Mobile Banking: with 47

Special Reference to Sampath Bank PLC
D. G. L. Rasika, H. P. A. P. Pathirana & P. V. Pathirana
Bank Interest Rate Reduction and its Impact on Channelling of Funds in 48

Sri Lanka.
ix
A .M.M .P. K. Alweera
Factors Affecting on Awareness of Credit Information Bureau of the 49

Borrowers with Special Reference to Peoples Bank of Sri Lanka
R. C. S. J. Ranabahu, K .D. U. D. Fernando & M. Vithiyalani
A Study on the Factors Affecting to Use E-Learning Systems by Banking 50

Assistants of Hatton National Bank
G. Kanchana & K. L. G. B. Dharmarathne
Factors Influencing the Adoption of Internet Banking: A Case of 51

Commercial Banks in Sri Lanka
D.G.L. Rasika, T.G.N. Gayani & E.A.S.P. Kumara
Factors Affecting the Employee Motivation: A Case Study in Bank of 52

Ceylon
D. M. M. Sandaruwan & D. G. L. Rasika
Factors Influencing the Job Satisfaction of Banking Sectors Employees: A 53

Case Study in Sampath Bank PLC
T .M. N. Tharanga & D.G. L. Rasika
Business Management
Impact of Big Five Personality Traits on Employee Job Involvement in 55

Brandix Apparel Solutions Limited-Intimate Apparel, Welisara
W. B. S. M. Wijesingha & A. C. Jayatilake
A Study on the Impact of Fair Treatment and Working Environment on 56

Organizational Commitment
K. R. M. C. Thilakarathne & I. A. Ekanayake
Impact of Work-Family Life Balance on Employee Job Engagement at 57

Ceylon Knit Trend (Pvt.) Ltd
M. Fernando & J .K. S. C. Perera
Impact of Personality Traits on Work-Life Balance: Empirical Evidence 58

from the Non-banking Finance Sector in Sri Lanka
J. A. R. Madhushan & T .C. Gamage
A Study on Comparison of the Impact of Personality Traits on 59

Entrepreneurial Intention
C .R. Denis, C. Ariyarathne, J. K. S. C. Perera, K. Paloneka, M. J.
Zabarowskaa & B. Czerniachowicz
x
Impact of Big Five Personality Traits on Employees Work-to-Family 60

Conflict in Ceylon Knit Trend Apparel (Pvt.) Ltd.
S. Jayasekara & L. D. Kalyani
The Impact of Personality Traits on Sales Performance: 61

Empirical Evidence from the Advertising Industry in Sri Lanka
K. N. S. Jayasekara & T. C. Gamage
Impact of Big Five Personality Traits on Employees's Normative 62

Commitment
S. Madhuwanthi & L. D. Kalyani
How Personality of Employees Affect Occupational Stress? 63

G. G. M. S. Wickramapala & J. K. S. C. Perera
Study of Employers Insights of the Employability Skills and Level of 64

Satisfaction of Sri Lankan ICT Undergraduates.
S. Pathiratne & P. A .B. H. Amarathunga
Factors Affecting the Failure to Achieve Expected Sewing Efficiency Level 66

in Sri Lankan Garment Industry: with Special Reference to Brandix
Apparel Solutions in Wathupitiwala, Sri Lanka
N. A. P. Pubudika & M. P. Kovilage
A Factor Analysis of Temperament, Character, Emotional Intelligence, 67

and Need for Achievement of Sri Lankan MBA Students
P. A. B. H. Amarathunga & S. Pathiratne
A Study on Relationship between Psychological Contract and the 68

Employment Relationship
S. H. A. K. Nandasiri, D .C. Wijesekara, P. Sivashankar &
I. Hettiarachchi
Human Capital Development: 70

Comparative Analysis of South Asian Countries
K. K. N. P. Rathnayake & C. Zhixia
Impact of Work-Life Balance on Employee Work Performance in the 71

Hotel Industry of Sri Lanka
D. S. De Seram & W .K. A. C. Gnanapala
The Impact of Individual Values on Employee Commitment with special 73

reference to City Cycle Industries (Pvt.) Limited, Panadura
F. Hasniya & J. K. S. C. Perera
Study on the Impact of Change Message Components on Employee 74

Readiness to Change
xi
S. Senasinghe & L. D. Kalyani
Changing Role of HR and its Business Relevance 75

A. Khan & S. Karunagoda
The Impact of Glass Ceiling Factors on Women Career Development 76

K. Alwis & A .M. J. Attanayake
Impact of Organizational Downsizing on Manpower Retention: A Case 77

Study on the Eden Resort and Spa, Beruwala
A. Nanayakkara & M. S. M. Aslam
Impact of Job Satisfaction on Job Performance of Administrative Staff of 78

State Universities in Sri Lanka
M. L. Warnasuriya & L .D. Kalyani
Management Information System for Effective Decision Making on Total 79

Cost of Quality
K. A. P. Mekhala, H. C. Munasinghe, A .N. Abeygunawardena, V.
Puwana, R. K .D .Darshana & K .U. S. Somarathna
Eco Business Management
Analysis of Dynamic Trends of Rainfall Extremes in Sri Lanka Using 81

Frequency Indicators
S. S. Sanjeewani & L . Manawadu
Industry 4.0 in the Apparel-Manufacturing Sector: Opportunities for Sri 83

Lanka
H. Jayatilake & A .Widanaraachchi
Critical Analysis of Arbitration Method Used in the Construction Industry 84

in Sri Lanka
M. Nihaj & N. G. Gunawardena
Exploring the Consumer Surplus and Demand for a Novel Visitor 86

Experience at Kanneliya Forest Reserve in Sri Lanka
N .W. V. A. Shiromi & R .M. W. Rathnayake
Value Chain Analysis of Cinnamon in Galle District in Sri Lanka 87

A. A. C. Krishani & S .H. P. Malkanthi
Developing Carbon Footprint Based Environmental Performance Indices 88

for Garment Manufacturing Industries in Sri Lanka: A Case Study at Body
Line (Pvt) Ltd, Balangoda
D. M. M. Chandanamali & W. M. P. S. B. Wahala
xii
An Assessment of Green House Gas (GHG) Saving Potential of Transport 89

Related Operations: A Case Study at
Brandix Lingerie (Pvt) Ltd, Wathupitiwala
L. D. P. Liyanage, W. M. P. S. B. Wahala & R. Wellagiriya
Exploring Green House Gas Saving Potential of Transport Plan 90

Optimization in Fabric Manufacturing Industry: A Case Study at Textured
Jersey Lanka Plc, Avissawella
I.C. Usgalhewa , W. M. P. S. B. Wahala & R. Gunawardene
Water Consumption and Potential Savings in Fabric Dyeing Process: A 92

Case Study in Textured Jersey Lanka PLC, Avissawella
P. G. S. H. Ariyadasa, W. M. P. S. B. Wahala & R. Gunawardene
Marketing Management
The Impact of Automated Teller Machines (ATMs) Service on Customer 95

Satisfaction: A Study Based on State Banks in Sri Lanka
R. A. S. Weerasiri & K. C. Koththagoda
Determinants of the Customer-Based Brand Equity: A Verification 96

Approach in the Liquefied Petroleum Gas Industry in Sri Lanka
D.K. R. Madushani & T.C. Gamage
Impact of Visual Merchandizing on Impulse Buying Behaviour of Sri 97

Lankan Retail Customers: with Special Reference to Household Electrical
and Electronic Appliances
K. D. L. R. Kapuge
Evaluating the Factors Influencing on Customer Retention in the Mobile 98

Telecommunication Industry in Colombo District of Sri Lanka
A. S. J. Karunakaran & P. Selvarajan
Review on Perceived Risk Factors In Relation to Purchase Intention 99

towards Electric Vehicle Brands in Sri Lanka
D. K. Thilina & D .M .R. Dissanayake
Using the 7Ps as a Generic Marketing Mix: An Exploratory Survey of 100

Insurance Industry in Sri Lanka
D. A. M. Perera & H. A. B. W. Hettiarachchi
The Impact of Customer-Based Brand Equity on Customer Satisfaction 101

W .H .T. Madhuhansi & D. Jasinghe
Factors Influencing on Purchase Intention of Mens Cosmetic Products: 102

with Special Reference to the Mens Fairness Cream Products
xiii
R. A. S. Weerasiri & H. M. G. Y. J. Hennayake
Reengineering Academic Institutional Standards 103

L. Devendra & U. Sonnadara
Role of Celebrity Worship Motives in Evaluating Endorsed Brand: A 104

Literature Review for Future Research Propositions
D. M.R. Dissanayake, N. Ismail, W .M. C. B. Wanninayake &
H. Wasantha
The Impact of the Perceived Effectiveness of Celebrity Endorsement on 105

Perceived Brand Personality
D. M. R. Dissanayake, N.M. Amarasinghe & R .A. S. Weerasiri
The Impact of Brand Equity on Customers Purchase Intention: with 106

Special Reference to Germ Protection Toilet Soap Brands in Sri Lanka
K. D. L. R. Kapuge
Consumer Preferences for Organic Food in Colombo Municipal Council 107

W. P. S. Wijesinghe & P .Sivashankar
Impact of Perceived Brand Equity towards Purchase Intention of Life 108

Insurance Services in Sri Lanka: Concept Paper
N. Gunawardane & D. M. R. Dissanayake
Tourism Management
Alienation within Alienation: European Fantasmatic, Tourist Gaze and 110

the Logic of Colonial Tourism in Postcolonial Sri Lanka
M. Hapugoda & I. Ratnayake
Community Participation in Tourism Decision Making Process: A Case 111

Study of Arugam Bay, Sri Lanka
C. N. R. Wijesundara
Impacts of Unplanned Tourism Development on Tourists Satisfaction 112

with Special Reference to Negombo, Sri Lanka
K .M. R. Charika & W. K. A. C. Gnanapala
Policy Choices for Sustainable Tourism Development in Nigeria 113

A. Adedayo & H. M. Bandara
The Roles of Beach Boys and Their Influences on Sustainable Tourism 114
Operations: A Study of Hikkaduwa Sri Lanka
D. De Zoysa & W. K. A. C. Gnanapala
xiv
Ontology Beyond Borders: Tourist Gaze and the Sense of Universal 115
Appreciation in World Heritage Sites in Sri Lanka
I. Ratnayake & M. Hapugoda
Issues and Challenges Related to the Wedding Tourism Development in 116

Sri Lanka
D. Samarasekara & W. K. A. C. Gnanapala
Behavioral Characteristics of Solo Female Travellers in Sri Lanka 117

M. P.D .R .S. Senevirathne & W. K. A. C. Gnanapala
Interpretation Quality of Tourist Guides and its Impacts on Tourists 118

Satisfaction in Round Tours
H. Dinusha & W. K. A. C. Gnanapala
Quality of Physical Environment and its Effect on Tourists' Satisfaction: A 119

Study on Sri Lanka
M. Wijemuni & W. K. A. C. Gnanapala
The Relationship between Operational Efficiency and Service Quality of 120
Restaurants with Reference to Waters Edge
N. A. P. Priyakeerthi & W. K. A. C. Gnanapala
A Study of Guests Motivation to Select Ayurvedic Hotels in Sri Lanka: A 121
Case Study of Baberyn Beach Hotel, Weligama
M. H. D. Madurangi & C. N. R. Wijesundara
xv
KEYNOTE SPEECH BY SENIOR PROFESSOR H.H.D.N.P. OPATHA
Towards a Sustainable Future: Managerial Reflections

Senior Professor H. H. D. N. P. Opatha
Faculty of Management Studies & Commerce
University of Sri Jayawardenepura, Sri Lanka
Introduction
We are now in the present. Generally a future refers to a period of time which will take
place after the present. A future that lasts for a prolonged time, ideally forever is a
sustainable future. As per the Buddhism there is nothing that lasts forever. Secularly and
relatively it is possible to think of a sustainable future. Here the relevant concept is
sustainability.
Meaning of Sustainability
It is possible to observe that the terms sustainable development, sustainability,
corporate sustainability and corporate social responsibility (CSR) have been utilized
interchangeably. According to the report titled Our Common Future prepared by the
World Commission on Environment and Development (1987, as in Rompa, 2011),
sustainable development is development that meets the needs of the present without
compromising the ability of future generations to meet their own needs. This is the widely
used definition and the Commission highlighted three fundamental components of
sustainable development, i.e. the economic growth, the environmental protection, and
social equity. Hence sustainable future needs to be economically viable, environmentally
sound, and socially equitable. A business definition of sustainable development was
given by the international Institute for Sustainable Development in its report, in 1992.
The definition is adopting business strategies and activities that meet the needs of the
enterprise and its stakeholders today while protecting, sustaining and enhancing the
human and natural resources that will be needed in the future. Accordingly it is
indispensable that the needs of a business enterprise and its stakeholders
(shareholders, customers, employees, suppliers, lenders, and communities) are met.
According to Dyllick and Hockerts (2002), corporate sustainability is meeting the needs
of a firms direct and indirect stakeholders without compromising its ability to meet the
needs of future stakeholders as well. Strandberg (2009) observes that the Corporate
Social Responsibility terminology is the most salient to Canadian organizations, and
defines CSR as the balanced integration of social and environmental considerations into
business decisions and operations. Sustainability became an umbrella term for all of the
aims and norms that encourage corporations, organizations, and society at large to more
effectively address the adverse social and environmental effects of commerce and the
dangers of narrowly pursuing maximization of profits regardless of the larger costs
(American Management Association (AMA), 2007).
1
Importance of Sustainability
Consideration of environmental and social aspects into business decisions and
operations and engaging in certain sustainable actions and programs require additional
and considerable effort, time, and money on the part of the organization. One must
ascertain that survival of the organization and its stakeholders depends on the survival
of the environment. According to a research done in 2010 by the Economist Intelligence
Unit, the most important motivation for promoting sustainability policies is do the right
thing ethically. Other motivations in terms of the order of importance are: comply with
laws and regulations, upgrade the companys image, improve the bottom line, meet
demands of customers, discover new markets, support recruitment and retention of
employees, respond to pressure from NGOs and citizen lobby groups, and respond to
criticism in the media. American Management Association (2007) summarizes that the
modern concept of sustainability has evolved from mostly separate streams of parallel
conversations into a holistic notion that rejects the premise that social-environmental
and economic issues are competing interests; and this, new, integrative perspective
contends that social, environmental, and economic performance can and must be
optimized simultaneously for both short-and long-term success.
Environmental issues are some of the most complex and significant managerial
challenges of twenty-first century (Rugman and Verbeke, 1998). They include climate
change, natural resources depletion, and reduction of biodiversity and ecosystem
integrity (unity). There are many detrimental effects on the environment owing to the
use of fossil fuels. Fournier and Westervelt (2005, as in AMA, 2007) report that fuel
combustion affects the global climate with the production of greenhouse gases and
localized production of acid rain, low-lying ozone, and smog; mining and production of
fuels destroy ecosystems and biodiversity; the loss of habitat is leading to localized
extinction of species; and the reduction of biodiversity results in greater vulnerability of
the planet to ecological stresses. It is a must to avoid or minimize these detrimental
effects. Otherwise it is not possible to ensure survival of humans and business
organizations for a prolonged period of time.
Sustainability-Related Paradigms
The most popular one is the concept of the Triple Bottom Line, or TBL (People,
Planet, and Profits) introduced by Elkington (1994, as in Johnston, 2006). This has
gained widespread recognition as a framework for viewing and measuring business
performance (American Management Association, 2007) and it is simple and relatively
non-controversial (Johnston, 2006). For a sustainable future, it is imperative to have a
balance among people, planet, and profits. Traditional bottom line, i.e. profit is not
sufficient to measure a firms success. The firm must have the ability to excel not only in
its environmental (planet) performance but also societal and ethical (people)
performance. The Five Capital Model is another paradigm relating to sustainability.
This model maintains that any government or organization has five capitals or stocks to
manage: natural, social, human, financial and manufactured (Porritt, 2005 as in
2
Johnston, 2006). Exhibit-1 presents the five capital model of the economy. According to
this paradigm, sustainability is not achievable, if eroding the stocks occurs.
Exhibit-1: Five Capital Model of the Economy

Capital/Resource Stock Flow
Natural Land, sea, air, vegetation, Food, water, energy, waste,
ecological systems disposal, climate
Human Knowledge, skills, health, Happiness, creativity,
motivation, spiritual ease innovation, work, energy,
participation
Social Families, communities, Security, shared goods (e.g.
organizations, governance culture, education),
systems, schools inclusion, justice
Manufactured Infrastructure, roads, Living/working space,
buildings, tools, fixed access, distribution
assets
Financial Money, stocks, bonds, Means of valuing, owing or
banknotes exchanging other four
capitals
Source: Johnston, 2006
The Three Es is another paradigm proposed by R. Edwards (2006, as in American

Management Association, 2007). Ecology/environment, Economy/employment, and
Equity/equality are those three Es. A fourth E that stands for education was added by
Edwards and that is a powerful force in helping to drive the sustainability movement.
Barriers to Sustainability
Barriers to sustainability can come from outside forces of the environment as well as
from within the organization. One major barrier is cynicism which is an attitude
towards people believing that individuals are expected to act selfishly. A cynic believes
that an organization is a formal group of people and these people always behave in a
selfish way. Hence there is no need to think of others, planet etc. Another major barrier
is skepticism which is doubt one has about something. A skeptic disbelieves that
sustainability is useful or truly indispensable. Skeptics say that the goal of business is
profit, and sustainability has no place in corporate life (Savitz and Weber, 2006, as in
AMA, 2007). It is indeed a surprise to hear that a resistance to the sustainability
movement exists and it is a kind of anti-environmentalism. The anti-environmentalism
challenges the wisdom and usefulness of laws that protect the environment and that
promote government intervention (Boston, 1999, as in AMA, 2007).
The 2007 AMA/Human Resource Institute (HRI) Sustainability Survey reveals 12

potential barriers to sustainability or factors that can hinder the movement toward
sustainability practices and they include lack of demand from consumers and customers
(ranked as 1), lack of demand from managers and employees (ranked as 2), lack of
awareness and understanding (as 3), lack of standardized metrics or performance
benchmarks (as 4), lack of specific ideas on what to do and when to do it (as 5), lack of
3
demand from shareholders and investors (as 6), lack of demand from suppliers (as 7),
unclear or weak business case (as 8), lack of demand from the community (as 9), lack of
support from senior leaders (as 10), general risk aversion (as 11), and fear of
competitors taking advantage of us (as 12). As per the Economist Intelligence Unit
(2010), there are 07 main internal obstacles to incorporating sustainability principles
into the companys strategies and practices, and they include (in the order of
importance) immediate financial goals more urgent, lack of consensus on ultimate goals
of a sustainability programme, insufficient clarity concerning locus of responsibility
internally, lack of funding, absence of a compelling business case for sustainability, lack
of clarity on legal or regulatory obligations to meet sustainability standards, and lack of
transparency in operations or practices. Further the unit suggests that the poor
economic environment means that sustainability has taken a back seat. In a study done
by Rompa (2011), the most often reported three barriers were a lack of knowledge and
capacity for sustainable policies, no support from leader within the organization and the
fact that practices associated with sustainability are not mainstream and therefore will
not lead to competitive advantage.
It implies that all the relevant stakeholders and the top managers need to be made
aware of the importance of sustainability and all employees need to be trained on
applying sustainability principles.
Sustainability Areas or Issues and Practices

What are the sustainability issues to be dealt with by an organization? This is a very
important question a good answer for which can be found from the research done by the
Economist Intelligence Unit (2010) according to which, there are nine specific
sustainability areas in which an enterprise can be active. They include (in the order of
magnitude as % of respondents) code of ethics/anticorruption system-51, climate
change/environment protection-50, alternative energy sources-40, green IT-37, gender
diversity-36, socially responsible investing-33, workers rights-30, stakeholder
engagement-30, and carbon trading-23. The 2007 AMA/HRI Sustainability Survey
reveals 18 sustainability-related issues including (mentioned in the order of
importance) business ethics and integrity (4.77 out of 5), safe and healthy work
environment (4.68), affordable quality health care (4.66), well-being of employees
(4.64), clean water (4.43), corruption in all its forms (4.43), worker job security (4.40),
safe and reliable food sources (4.36), human rights abuses (4.22), affordable clean
energy (4.13), assistance after natural disasters (4.10), poverty and homelessness
(3.94), climate change (3.90), epidemics (3.82), diverse ecosystem (3.81), open
immigration (3.37), world population growth (3.36), and right to collective bargaining
(3.23). Also the survey revealed that environmental issues do not yet have the same
prominence and importance in business as issues with regard to financial or managerial
performance.
What are the common sustainability practices being followed by current organizations
in the world? Top 12 most commonly used sustainability related practices were
4
identified by the AMA and HRI from their international research and they are in the
order of importance (ranked according to the mean response): (1) Ensure the health
and safety of employees (4.02), (2) Ensure accountability for ethics at all levels (3.95),
(3) Engage collaboratively with community and nongovernment groups (3.47), (4)
Support employees in balancing work and life activities (3.35), (5) Encourage employee
volunteerism (3.29), (6) Involve employees in decisions that affect them (3.28), (7)
Provide employee training and development related to sustainability (3.26), (8) Reduce
waste materials (3.14), (9) To highlight our commitment to sustainability in our brand
(3.12), (10) To improve energy efficiency (3.06), (11) Work with suppliers to strengthen
sustainability practices (2.95), and (12) Get groups across organization that are working
on sustainability-related initiatives to work more closed together (2.85). Other surveyed
practices (five) are: Use sustainability-related criteria in recruiting and selection (2.81),
Establish indicators to determine if the organization is meeting sustainability goals
(2.75), Use sustainability-related criteria in promotion and career advancement (2.75),
Reduce greenhouse gas emissions (2.64), and Link sustainability-related criteria to
compensation (2.53). Strong statement from top management, developing products and
services that reduce or prevent environmental damage, incentives to business partners
to adopt sustainable business practices, including sustainability performance indicators
in employee evaluations, and positioning the company as a low-carbon user or as a
provider of products that help others to reduce their carbon use are other practices
found in the research done by the Economist Intelligence Unit (2010). A careful
examination of the above mentioned practices reveals that Human Resource
Management (HRM) plays and will have to play a critical role in making an organization
sustainable. HRM is critical for embedding sustainability across the enterprise.
Integration of Sustainability into HRM

HRM is the efficient and effective utilization of employees in order to achieve goals of
the organization. It is about managing people at work, being the human side of Business
Administration having policies, procedures, rules, and systems influencing employees of
the organization (Opatha, 2009). It generally attempts to serve for the organization
where it is practiced, employees working for it and society at large. Major fields of HRM
include human resource planning, staffing, human resource development, rewards
management, and employee & labour relations. Integration of sustainability into HRM
results in creating a new branch called Sustainable HRM. Sustainable HRM is the
contribution HRM can make to sustainable development (Strandberg, 2009). Based on
the concept of the TBL, It is possible to envisage that sustainable HRM has three
dimensions, i.e. planet-related, people-related and profit related. These dimensions may
be labeled as branches or fields of sustainable HRM (sub-branches from the point of
HRM). Planet-related dimension includes environmental aspects or contributions that
HRM can make to environmental excellence. People-related dimension includes
employee and societal aspects or contributions that HRM can make to societal equity.
Profit-related dimension includes profitability aspects or contributions that HRM can
make to financial performance or economic growth of the organization. First part is
5
labeled as Green HRM while Social HRM and Strategic HRM are utilized for dimention
two and dimention three respectively. Refer to the following Figure.
Figure-1: Dimensions of Sustainable HRM
Figure-2: Three Dimensions of Sustainable HRM
Sustainable HRM
Green HRM Social HRM Strategic HRM

Planet-related Society-related Profit-related matters
matters matters
Green HRM
Out of the three Ps, the most important one is Planet and therefore, the rest of my
speech is about Green HRM. Green or greening has at least four meanings in the
context of managing people at work (Opatha, 2013, Opatha and Arulrajah, 2014): 1.
Preservation of the natural environment: to keep all the things in the world which are
neither caused nor controlled by human beings including land, forests, plants, animals,
and other natural phenomena in its original form and protect them from harm, loss, or
negative change; 2. Conservation of the natural environment: to be very careful in the
way of using it in order to let it last as long as possible, to use it at the minimum level so
that future generations will be able to utilize it; 3. Avoidance or minimization of
environmental pollution: to stop contaminating the water, air, atmosphere, etc. through
unpleasant and poisonous substances and wastes. To guard against outcomes that will
ultimately endanger the planet/earth where humans and non-humans are living; and 4.
Generation of gardens and looking-like natural places: to create parks and places which
have plants, trees, and grass. Thus, every employee (may be a manager or a non-
manager) needs to be a green employee and is supposed to perform four roles for the
purpose of becoming a green employee. They are preservationist, conservationist, non-
polluter, and maker. A composite term, i.e., nature-lover or eco-activist can be used in
order to cover the four roles which need to be performed by an employee to become
green. Figure-2 shows the four roles of a green employee who is a nature-lover or an
eco-activist.
Opatha and Arulrajah (2014, p. 104) define Green HRM: It is the side of HRM that is
concerned with transforming normal employees into green employees so as to achieve
environmental goals of the organization and finally to make a significant contribution to
environmental sustainability. It refers to the policies, practices and systems that make
employees of the organization green for the benefit of the individual, society, natural
environment, and the business. The purpose of green HRM is to create, enhance and retain
greening within each employee of the organization so that he or she gives a maximum
individual contribution on each of the four roles, i.e., preservationist, conservationist, non-
polluter, and maker.
6
Figure-2: The Four Roles of a Green Employee
Preservationist Non-polluter
Conservationis Maker
t
A Nature-lover
Source: Opatha and Arulrajah (2014)
For the purpose of achieving greening, making traditional HRM functions green is a
must. Ideally it is possible to make greening of all the HRM functions from job analysis to
labour relations. Refer to Exhibit-2 for HRM functions and specific green HRM practices.
Successful performance of green HRM functions will lead to create green employee
inputs (such as green attitudes and green competencies) and employee green
performance of job (green behaviour and green results). Green attitudes, green
competencies, green behaviour, and green results can alternatively be viewed as green
HR requirements which are needed to achieve corporate environmental objectives.
Exhibit-2: HRM Functions and Specific Green Practices

HRM Function Green Practices
Job Design To incorporate environmental related tasks, duties and
responsibilities in each job and put them into effect.
To use teamwork and cross-functional teams as job design
techniques to successfully manage the environmental issues of
the organization.
Job Analysis To include environmental dimension as a duty in job
description.
To include green competencies as a special component in job
specification.
Human To engage in forecasting number of employees and types of
Resource employees needed to implement the corporate environmental
Planning management programmes (e.g. ISO 14001, cleaner production,
responsibility care etc).
To engage in deciding strategies to meet the forecasted demand
for environmental works (e.g. appointing consultants/experts
to perform energy or environmental audits etc).
7
Recruitment To include environmental criteria in the recruitment messages.

To communicate the employers concern about greening
through recruitment efforts.
Selection To select applicants who are sufficiently aware of greening to
fill job vacancies.
To select applicants who have been engaging in greening as
consumers under their private life domain.
Induction To make new employees familiar with greening efforts of the
organization.
To develop induction programs showing green citizenship
behaviour of current employees.
Training To impart right knowledge and skills about greening to each
employee through a training program exclusively designed for
greening.
To apply job rotation to train green managers of the future.
To do training needs analyses to identify green training needs
of employees.
Performance To evaluate employees job performance according to green-
Evaluation related criteria.
To include a separate component for progress on greening in
the performance feedback interview.
Rewards To give financial incentives to employees for their good green
Management performance of job.
To introduce rewards for innovative environmental initiatives.
To give non-financial rewards such as praises and recognitions
to employees for their greening.
Discipline To formulate and publish rules of conduct relating to greening.
Management To develop a progressive disciplinary system to punish
employees who violate the rules of green conduct.
Health and To create various environmental related initiatives to reduce
Safety employee stress and occupational diseases caused by
Management hazardous work environment.
To formulate and implement strategies (e.g. green
factory/green zone) to maintain a conductive environment to
prevent various health problems.
Labour To provide opportunities to the trade union and its members to
Relations participate in greening.
To introduce green whistle-blowing and help-lines.
To provide training to the union representatives about
environmental management.
To recognize union as a key stakeholder for environmental
management.
Source: Based on Material by Arulrajah, Opatha, and Nawaratne (2015)
Green Behaviour
In this context, green behaviour is perceived as a construct consisting of three
dimensions, i.e. green organizational citizenship behaviour, green interpersonal
behaviour, and green official behaviour. Green organizational citizenship behaviour is
defined as the extent to which the employee engages in positive actions aimed at helping
8
the organization as a whole to achieve greening (Opatha, 2013, Opatha and Arulrajah,
2014). These actions do not become a part of formal job requirements and they
primarily represent voluntary green actions. Green interpersonal citizenship behaviour
is defined as the extent to which the employee engages in positive actions aimed at
helping specific co-employees to do their green work (Opatha, 2013, Opatha and
Arulrajah, 2014). These actions are also not a part of formal job requirements and
represent voluntary helps given by the employee to other employees at the similar level
(peers) to become them green or perform their green work. Green helps given by the
employee can be extended not only to peers but also to non-peers. Green official
behaviour is the third dimension of green behaviour and it is defined as the extent to
which the employee engages in official duties assigned by the superior with regard to
greening (Opatha, 2013, Opatha and Arulrajah, 2014). This engagement is not a
voluntary one as the employee is officially required to perform certain duties in relation
to greening. First and second dimensions are non-official while the third one is official.
As a matter of fact, first and second types of green behaviour are indispensable not only
at work but also at non-work life.
Activity 1: Self Assessment (Green Citizenship Behaviour)
Following is an instrument developed by the author of this paper to measure Green

Citizenship Behaviour (GCB). Please indicate the extent to which you agree with each
statement. After doing this activity, you will be able to know your own level of GCB and
how this important construct is measured.
Statement Strongly Disagree Indifferent Agree Strongly

Disagree Agree
1. I have a habit of using natural water

rather than refrigerated water for
drinking.
2. I do not use both sides of the paper when
writing or printing or photo-copying
because the relevant cost is negligible and
it is difficult to do.
3. I use my own vehicle to come to work
instead of walking or bus or train.
4. Normally I do hibernating the computer
when not working as shutting down and
opening are troublesome.
5. I use natural light as much as possible
when working.
6. I have put plants in the working and living
cubicles.
7. Whenever possible I buy organic food for
parties.
8. I have a serious habit of working with all
the bulbs on (switching on all the bulbs
available in the room/place) as I need a
high level of light.
9. I dont do re-using many items such as
jugs, envelops, cans, bottles, bags, etc at
9
the office and at home as well because I

think such use is not healthy.
10. I was not used to report a relevant officer
regarding damages, possible harms etc to
the environment whenever noticed
because it is troublesome, not my
business, or there are appointed people
being paid and responsible.
11. I make sure that switching off the air-
conditioners is done before the ending
time of daily work (before 30/15 minutes
early).
12. I was used to sleep without using any bulb
on (after switching off all the bulbs).
Interpretation: Number of Points Level of GCB
12 -21.6 Very Low
21.7 -31.2 Low
31.3 -40.8 Moderate
40.9 -50.4 High
50.5 -60 Very High
Activity 2: Self Assessment (Green Interpersonal Citizenship Behaviour)
Following is an instrument developed by the author of this paper to measure Green

Interpersonal Citizenship Behaviour (GICB). Please indicate the extent to which you
agree with each statement. After doing this activity, you will be able to know your own
level of GICB and how this important construct is measured.
Statement Strongly Disagree Indifferent Agree Strongly

Disagree Agree
1. I dont stimulate others to become

green because others should change so
by themselves.
2. I answer questions asked by others
about greening positively.
3. I have a habit of teaching others about
how to become green.
4. Spending my time and effort to
influence others to become green is
not done because I am not rewarded
by anyone for doing this.
5. I have performed some green works
which were supposed to be performed
10
by others.
6. Whenever possible, I discuss the
importance of greening with others.
7. I have personally appreciated green
works done by others.
8. I dont finger into green works which
others have to do or which others have
done.
9. I have personally criticized non-
performance of green works by others.
10. I try to be an excellent example to
others on greening.
Interpretation: Number of Points Level of GICB
10 - 18 Very Low
19 - 26 Low
27 - 34 Moderate
35 - 42 High
43 - 50 Very High
Conclusion
Sustainability is a serious issue in front of any human being living today, and it is about
adopting business strategies and activities that meet the needs of the organization and
its stakeholders today while preserving, conserving, protecting, and improving the
natural environment, and human and other resources. In fact environmental and social
issues and economic issues are not competing interests, and they can and must be
optimized simultaneously for both short-and-long-term success. Sustainability is
indispensable owing to avoidance of numerous detrimental effects of commerce and the
dangers of narrowly pursuing maximization of profits. The TBL is the most popular one
among the several sustainability-related paradigms. A careful examination of the
barriers to sustainability and sustainability issues and practices reveals that HRM plays
and will have to play a critical role in making an organization sustainable. It is critical for
embedding sustainability across the organization. Integration of sustainability into HRM
results in three dimensions such as Green HRM, Social HRM and Strategic HRM, out of
which green HRM is the most important as the Planet is the most important out of the
three Ps. Activating on sustainability is a responsibility of every human being and it
needs to be a reality rather than a rhetoric.
References
_______(2007),CREATING A SUSTAINABLE FUTURE: A Global Study of Current Trends
and Possibilities, American Management Association, Retrieved 18 July 2016.
http://view2.fdu.edu/legacy/amawebcastreport.pdf
_______(2010), Managing for sustainability, the Economist Intelligence Unit, Retrieved 18
July 2016.
http://graphics.eiu.com/upload/eb/Enel_Managing_for_sustainability_WEB.pdf
11
_______(1991), Business Strategies for Sustainable Development, the International

Institute for Sustainable Development, Retrieved 18 July 2016.
https://www.iisd.org/business/pdf/business_strategy.pdf
Arulrajah, A.A., Opatha, H.H.D.N.P., and Nawaratne, N.N.J (2015), Green Human
Resource Management Practices: A Review, Sri Lankan Journal of Human
Resource Management, Vol.5, o.1, pp.1-16.
Dyllick, T. And Hockerts, K. (2002), Beyond the business case for Corporate Social
Responsibility, Business Strategy and Environment, 11, pp. 130-141.
Johnston, A. (2007), HIGHER EDUCATION FOR SUSTAINABLE DEVELOPMENT, Final
Report of International Action Research Project, the Organization for Economic
Co-operation and Development (OECD)
Opatha, H. H. D. N. P. (2013), Green Human Resource Management: A Simplified
Introduction, HR Dialogue, Department of HRM, Faculty of Management Studies
and Commerce, University of Sri Jayewardenepura, pp. 22-41.
Opatha, H. H. D. N. P. and Anton Arulrajah, A. (2014), Green Human Resource
Management: Simplified General Reflections, International Business Research,
Vol. 7, No. 8, pp. 101-112.
Opatha, H.H.D.N.P. (2009), Human Resource Management: Personnel, Colombo:
Department of HRM, University of Sri Jayewardenepura.
Rompa, I (2011), Explorative research on Sustainable Human Resource Management,
Masters Thesis, VU University Amsterdam.
Rugman, A., and Verbeke, A. (1998). Corporate strategies and environmental
regulations: An organizing framework. Strategic Management Journal, 19(4),
363-375. doi:10.1002/(SICI)1097-0266(199804)19:4<363::AID-
SMJ974>3.0.CO;2-H.
Strandberg, C (2009), THE ROLE OF HRM IN CORPORATE SOCIAL RESPONSIBILITY:
ISSUE BRIEF AND ROADMAP, Burnaby: Strandberg Consulting.
12
ABSTRACT OF THE KEYNOTE SPEECH BY

2 ASSOCIATE PROFESSOR JAMALIAH ABDUL HAMID
MOOC: A Sustaining or Disruptive Innovation in Higher Education?

Taking A Research Perspective
The debate on MOOC has centered on the type of change it engenders to universities,
whether disruptive or sustaining to the market. This paper discusses research issues
that arise from the philosophy, role and status of MOOC in the university system. For a
start, MOOC presents a different psychological cognitive perspective of learning and
creates the need for new models of learning and self-transformation. MOOC is a
potential tool for societal and personal empowerment, but yet research is still scarce on
the transformational role of MMOC and its sources of power. Cultures of Self- education
and Self transformation are inherent in MOOC and in this regard, we need research to
describe how graduates from the MOOC platform will be qualitatively different from
those who went through the traditional courses. Students are knowledge workers, and
through MOOC, we must seriously consider how to explore ways to construct a
taxonomy of bottom up students feedback in order to systematically and rationally
improve our course content and its delivery and ripple effect. Too often the fixation on
accreditation issues based on staff expertise and content coverage has beleaguered
MOOC. It is argued in this paper that we need to develop research to enable
accreditation to shift focus on the capability of MOOC as a social/intellectual platform to
magnify the impact and ripple factor of student and staff as active and visible knowledge
workers who access, share, develop and contribute to a web of on line users in various
disciplines. Visibility of knowledge workers is an important accreditation not normally
associated with traditional courses. Technology is an enabler, and there is urgent need
for serious research to examine and model its transformative capacity within the
context of the needs of our consumers, stakeholders, and professionals. Policy research
is important. It is a short sighted mistake if research in business strategies overshadows
and eclipse the need for policy studies in the adoption of technology in university
education.
Associate Professor Jamaliah Abdul Hamid

Faculty of Educational Studies, Universiti Putra Malaysia
13
Accountancy and Finance
14
Test of Uncovered Interest Rate Parity for Sri Lanka: Evidence from
LKR/GBP Rate
H. Kaushala 1 & C. Rajapakse 2

University of Sri Jayawardenepura
hiruninirmali@yahoo.com1 & champani13@gmail.com2
Interest rates and exchange rates are considered to be one of the most discussed areas
under International Finance. When considering the main theories that explore on these
two variables, Uncovered Interest Rate Parity (UIP) states that the interest rate
differential is an unbiased predictor of the spot exchange rate changes. The impact on
investors attitude is that they would be indifferent towards the returns on domestic
and foreign assets denominated in same currency thereby eliminating any short term
arbitrage profits. Studies based on the relationship between these two variables are
rare for developing countries like Sri Lanka. Therefore in order to bridge that gap
identified through search for literature, this study is focused on testing UIP for Sri
Lanka. Monthly data on LKR/GBP exchange rate for the period from 2001-2014 and
three month interest rate for the two countries , were used for this purpose.
Autoregressive Distributed Lags method was employed to test the UIP. The findings
reveal that there is no evidence to prove the existence of the UIP for the selected
currency compared against the Sri Lankan Rupee.
Keywords: Autoregressive Distributed Lags (ARDL) Model; Exchange Rates; Interest

Rates; Uncovered Interest Rate Parity (UIP)
15
Analysis of Dynamic Linkage of Stock Returns and Exchange Rates:

Comparative Evidence from Sri Lanka and India
A. W. G. C. N. Wijethunga1 & D. A. I. Dayaratne2

Department of Accountancy & Finance, Faculty of Management Studies, Sabaragamuwa
University of Sri Lanka, P.Box 02, Belihuloya1&2
Wijethunga1988@gmail.com1 ,Indunildaya@gmail.com2
This study attempts to analyze the dynamic linkage between stock market returns and
the exchange rate in two South Asian emerging economies: Sri Lanka and India. We
employed monthly data of All Share Price Index (ASPI) from Colombo Stock
Exchange and CNFNIFTY index from the National Stock Exchange of India and
monthly exchange rate of the US dollar in LKR (USD/LKR) and the US dollar in
Indian Rupee (USD/INR) for the period 2000 to 2014. First, the study performed
Augmented Dickey Fuller (ADF) to test the integrating order of the variables. Then,
we employed Johansens Cointegration test to examine the long run relationship
among variables and Granger causality test to determine causal relationship between
variables and Ordinary Least Square (OLS) analysis to determine the relationship
between the stock returns and the exchange rate. The results establish that there is a
long run equilibrium between variables in Sri Lanka and India. Furthermore, there is
one-way causality from stock returns to exchange rate in both countries. Finally, the
results suggest the existence of a negative impact of stock returns on exchange rate
only in Indian context.
Keywords: Causality; Cointegration; Exchange rate; Stock returns
16
Relationship between Financial Literacy and Financial Behavior of

Management Undergraduates of Sri Lanka
U. C. Edirisinghe1 & R. Amarasinghe2

Department of Accountancy & Finance, Faculty of Management Studies
Sabaragamuwa University of Sri Lanka.
chathurikaedirisinghe@gmail.com1
Rapid and dynamic developments and innovations injected to the financial markets
and products, locally and globally has changed the typical dimensions thus increased
the complexity of day to day financial decisions, where a ordinary financial decision
has transformed to be more rational, logical and strategic in nature in the modern
context. Management undergraduates proven to be having an academic appetite to
these changes and conservatively expect to follow these trends to make sensible
financial decisions in their day to day lives. The real question is, Is this a myth? or a
conservative expectation of the society? As an attempt to answer these questions, this
study is an evaluation to underpin 'the relationship between the financial literacy level
and the nature of the financial behavior of undergraduates of Sri Lanka. The sample
selected is 223 management undergraduates. The sampling techniques used is
convenient sample from three main government universities in Sri Lanka. Knowledge
on money management, savings, investment, credit and insurance has been
considered to measure the financial literacy level and undergraduates current and past
manners related to same dimensions is used to measure financial behaviour using
questionnaire. The results suggest that the financial literacy level of the
undergraduates of the three universities was at a moderate level. Multiple Regression
Analysis showed that apart from money management financial literacy level on all
other dimensions has significant positive effect not only on overall financial behavior
but also on individual dimensions. This concludes that financial literacy on Savings,
Investments, Insurance, Borrowing and Credit are valid determinants of financial
behavior of management undergraduates.
Keywords: Financial Behavior; Financial Literacy; Management Undergraduates
17
Effect of Institutional Excellence on Stock Market Development
T. U. I. Peiris
Department of Accountancy and Finance, Faculty of Management Studies
tuipeiris@gmail.com
Institutional environments with good governance would lead to higher stock market
returns by reducing both transaction and agency costs. Meanwhile, superior
institutional environments ensure lower levels of uncertainty, resulting in lower
returns on equity. Therefore, this study investigates the effect of institutional quality
on the performance of global stock markets. Due to the persistence behavior of stock
market development (SMD), a dynamic econometric model is developed in this
regard. SMD is proxied by market capitalization to GDP ratio. A Proxy for
institutional quality is obtained by the common component of governance indices that
measure the effectiveness of government, regulatory quality, extent of corruption
control, political stability, voice and accountability, and agents confidence on the
rules of the society. Several other empirically chosen variables are also included to the
model to control the other potential effects. A panel data set of 43 countries over the
period 2005 to 2013 is measured using Generalized Method of Moment (GMM)
estimation techniques. Results depict a negatively significant relationship between
SMD and the institutional quality. The relationship continued to remain negative
when the model is robusted for developing and developed countries. Interestingly, the
risk-return spectrum is supported when the model is further robusted for countries
with strong and weak Institutional environments.
Keywords: Generalized method of moment; Institutional quality; Risk-return

spectrum; Stock market development
18
An Analysis of Capital Structure of Firms and Anomalies that Persist

in the Sri Lankan Context: An Empirical Study of Selected Firms
Listed on the Colombo Stock Exchange
Y. Jayasekara1 & D. A. I. Dayaratne2

PhD Student, Faculty of Graduate Studies, University of Colombo.1
Department of Accountancy & Finance, Sabaragamuwa University of Sri Lanka.2
yaveenj@gmail.com1 , indunildaya@gmail.com2
This paper attempts to analyze the compositions of the capital structures of the 40
firms listed on the CSE. Moreover, it aims to assess the relationship between the Debt
to Equity (D/E) ratio and the market capitalization (firm value) of the selected firms.
Further, key financial indicators such as short term interest bearing borrowings, long
term interest bearing borrowings and share-holders funds have been considered. The
information related to short term interest bearing borrowings, long term interest
bearing borrowings and share-holders funds are also obtained. Minority interest is
disregarded to prevent inaccurate results. For the purpose of the analysis the firms are
categorized into low geared ( <0.35 ), moderately geared ( 0.36 0.55 ) and high
geared ( > 0.56 ). The study does not take into account firms in the Financial Sector.
The reason for their exclusion is the existence of a different set of determinants that
impact the leverage decision due to their different business model and cyclical factor
that skews the data sample. The analysis reveals a mean D/E ratio of 0.39-0.44 across
all industries which may indicate mean reverting tendencies to firms, which lending
institutions and investment banks could capitalize on, in order to identify potential
issuers of debt or equity. In addition, analysis has clearly established that short term
debt is the most preferred form of finance with a mean leverage of 0.21 and a standard
deviation of 0.13 whereas long term debt indicated a mean of 0.16 and a standard
deviation of 0.19. Firms that had foreign ownership too indicated low levels of
gearing with the mean leverage amounting to 0.11. Whilst appreciating the varying
leverage compositions in firms across varying industries the study demonstrates that
the theory may not hold true under specific instances for firms listed on the CSE.
Finally results further reveal that overall gearing levels is one of the variables that
influence firm value and that additional variables such as revenue, profitability, taxes
19
etc. should be factored in as an area of further study to assess the impact on overall
firm value.
Keywords: Capital Structures; D/E Ratio; Firm Value
20
Technical Efficiency of Small Scale Vegetable Growers in Sri Lanka:

A Comparison of Parametric and Non-parametric Approach
A. A. Shantha
Department of Economics and Statistics, Faculty of Social Sciences and Languages,
Sabaragamuwa University of Sri Lanka, P.O Box 2, Sri Lanka.
arunaeconomics999@gmail.com
Many researchers have depicted that most of the up-country vegetable growers have
failed to capture the technical efficiency due to poor managerial ability of economic
resources. It is an undeniable fact that the majority of the up-country vegetable
farmers are characterized by poor socio-economic status. This paper investigates the
resource use characteristics, profitability and technical efficiency of vegetable farming
in a sample of vegetable farmers selected from 12 Grama Niladhary (G.N) divisions
in Nuwaraeliya District. The experiment sites were randomly selected based on the
list of the GN division in Nuwaraeliya Divisional Secretariat division and the
empirical study was carried out based on a sample of 243 small scale vegetable
farmers. This paper uses both parametric and non-parametric approaches to estimate
the technical efficiencies of vegetable farming at production and marketing stages
under rainfed condition in the up-country of Sri Lanka. The parametric approach was
adopted under stochastic frontier production function with Cobb-Douglas form. The
non-parametric approach in this paper was based on the data envelopment analysis
(DEA) technique in order to estimate the technical efficiency of vegetable farming.
Both parametric and non-parametric approaches have shown that the average
technical efficiency estimates were not at potential level, and there would be a large
room for increasing productivity through improving technical efficiency of vegetable
farming. Under parametric approach, the average technical efficiency estimates at
production stage and marketing stage were 74.62 percent and 67.04 percent,
respectively under parametric and non-parametric approach. Under non-parametric
approach, the average technical efficiency was 70.86 percent and 62.84 percent at
production and marketing stages respectively. To examine the consistency of the
estimates from two approaches under different specifications, the researcher applied
21
independent sample t test, and the results show that the parametric and non-parametric
approaches provide different estimates due to measurement and specification errors.
Keywords: Vegetable Farming; Profitability; Technical Efficiency; Parametric and

Non-parametric Approach
22
A Review on Triple Bottom Line Optimization for Sustainability in

Supply Chains
K. R. H. L. Gunasekara
Department of Tourism Management, Faculty of Management Studies
hemendralal21@gmail.com
After the World War II, global businesses have been grown incredibly. Parallel to this
remarkable growth, human needs and wants have also been expanded. These needs
and wants are based on goods and services. Since organizations particularly
manufacturing firms seek to minimize the cost and maximize the income (profit)
through their supply chain processes, environmental (planet) and social (people)
obligations have been neglected either by directly or by indirectly. However the
Sustainability is practices and development that meet the needs of the current
generation without compromising the ability of future generations to meet their own
needs. Therefore, Principal aim of the sustainability in supply chain (SSC) is to
achieve economic prosperity, environmental cleanness, and societal well-being (or
optimization of Triple Bottom Line) simultaneously along the supply chain. This
study reviews literature to scrutinize the research efforts make on optimization of
Triple Bottom Line (TBL) i.e. economic, environmental, and social dimensions for
achieving SSC. Content analysis was carried out using reviewed most relevant 41
journal articles published in emerald, and Science Direct websites on Sustainable
Supply Chain Management and on TBL issues to categorize the research efforts done
on the area of SSC. The study found that more studies were carried out related to
green or environmental-friendly supply chains and studies focus on social dimension
are lacking. However, very few studies have been carried out on optimization of TBL
for the purpose of achieving SSC. Therefore, future researches concentrating on social
factor and on whole three dimensions are deemed necessary to be carried out.
Keywords: Supply Chain Sustainability; Triple Bottom Line; Optimization
23
The Impact of ISFTA on Exporters in Sri Lanka

U. P. Wijewardene1 & H. D. Karunaratne2
1
Faculty of Graduate Studies, University of Colombo
2
Department of Business Economics, Faculty of Management and Finance, University of
Colombo
The Indo-Sri Lanka Free Trade Agreement, most commonly known as ISFTA, is a
trade agreement between India and Sri Lanka. It was signed into effect on December
28th, 1998 and entered into force with effect from 1st March 2000, facilitating duty
free concessions to a wide variety of merchandises traded between the two countries.
Even though, it was started with the hopes of improving the economy of the member
states as well as promoting growth and job creation, critics claim that it has created
undesirable situations and had some hefty consequences. The objective of this study is
to examine the impact of Indo-Sri Lanka Free Trade Agreement, on Sri Lankan
exporters. It determines the impact of the FTA on prices, trade volumes, production,
consumption and welfare in exporters terms. It further highlights the importance of
non-tariff, regulatory issues between the agreements. This study examines trade
creation and trade diversion effects in the ISFTA using the standard gravity model of
bilateral trade flows. The estimation of the gravity equation was carried out using the
OLS analysis. In order to ascertain the overall trade creation and trade diversion
effects, explanatory variables such as GDP, distance and dummy variables were
incorporated into the estimation equation to explain bilateral trade flows and exports
respectively. The results of the analysis revealed that, the total trade indicates that
FTA brings about trade diversion and that trade creation effect is limited. Besides, the
results of the analysis, disaggregated trade data show different patterns among
different products while trade diversion effect for many products. Eventually it
highlights the ways which, the role played by BOI can be re-visited and restructure, to
make the agreement beneficial for Sri Lanka and increase Sri Lankan exports to India.
Keywords: CEPA; Economic Integrations; ISFTA; Non-tariff Barriers
24
Information Content of Right Issue Announcements and Information

Efficiency in Sri Lankan Stock Market
D. G. Dharmarathna1 & C. Amarasekara2

Department of Accountancy &Finance, Faculty of Management Studies,
Sabaragamuwa University of Sri Lanka, P.O.Box 02 , Belihuloya, Sri Lanka1
Economic Research Department, Central Bank of Sri Lanka,30, Janadhipathi Mawatha,
Colombo 01, Sri Lanka2
dunu@mgt.sab.ac.lk1
This study analyzed the information content at the announcements of the right issue of
the companies listed on the Sri Lankan Stock Market (SLSM) and tested the
information efficiency by using event study methodology. The sample consisted of 38
listed companies, which made 40 public announcements of the right issues on the
SLSM from 2005-2013. The Mean Adjusted Model, the Market Adjusted Model, and
the Market Model along with proxy of the SLSM All Share Price Index (ASPI) were
used in this study in generating abnormal returns in and around right issue
announcements. Specifically, the Market model was used by incorporating volatility
clustering effect and information asymmetric effects to get a strong result. Further,
Time Series Models such as AR, MA, ARMA, GARCH, TARCH and EGARCH in
relation to the stylized facts of each company returns within the sample specially to
minimize the use of bias of the SLSM All Share Price Index as a proxy in generating
abnormal returns. Overall results of the market response to right issue announcements
based on each model show that the market reacts negatively to information
subsequent to the right issue announcements in the SLSM. In addition, the analysis
shows that there are delayed reactions to information subsequent to a public
announcement of this event. It confirms that the Sri Lankan Stock Market is
inconsistent with information efficiency subsequent to the information contained in
the announcement of right issue announcements. These findings are important to all
parties interested in the Share Market. Especially, it is more important to the
investors, the managers of the companies and the Stock Exchange regulatory agencies
in their decision-making process.
Keywords: Colombo Stock Exchange; Event Study; Information Efficiency; Right
Issues
25
Foreign Direct Investment and Endogenous Growth: Evidence from

South Asian Countries
T. U. I. Peiris
tuipeiris@gmail.com
Positive spillover effects of Foreign Direct Investment (FDI) are hypothesized to

significantly influence growth promoting factors identified by the endogenous growth
theory. However, empirical studies that concentrate on these dynamic comparative
advantages of FDI are limited. Therefore, this study empirically investigates the effect
of five (05) theoretically chosen dynamic channels on economic growth with
reference to South Asian countries. In this regard, channel effects of Physical
Investment, Human Capital, Technology Transfer, Macroeconomic Policy Credibility,
and Price Distortion are considered over the period 2003 to 2014. A Structural
Equation Model (SEM) is developed to represent the dynamic relationship among
these channel variables and economic growth. Three-Stage Least Squares (3SLS)
estimation technique is used to estimate the SEM. The results for 3SLS indicate that
effect of FDI on each of the channel variable is statistically significant with the
expected sign. Further, the results are consistent when the estimation technique is
robusted with Seemingly Unrelated Regression (SURE). However, economic growth
effects of FDI are found statistically significant only through Human Capital,
Technology Transfer, and Macroeconomic Policy Credibility channels.
Keywords: Dynamic Channels; Economic Growth; FDI; Three-Stage Least Squares;

SURE
26
Capital Structure and Financial Performance: Evidence from a

Leading Listed Commercial Bank in Colombo Stock Exchange
D. G. L. Rasika1 & I. P. Liyanage2

Department of Accountancy & Finance, Sabaragamuwa University of Sri Lanka1
Risk Management Department, ICICI Bank Sri Lanka2
devundaragedara@gmail.com1, liyanageip@yahoo.com2
Capital structure decision is a complex issue since it has greater impact for the
sustainability of an organization. The commercial banks play a vital role in adopting
the best financial management practices in the Sri Lankan economy. This study
examines the impact of capital structure on financial performance of the commercial
banks based on secondary data collected from the financial statements of a leading
commercial bank for the period of six years from 2010 to 2015. Seven indicators were
used to measure the firms performance; Gross Profit Margin, Return on Capital
Employed, Return on Assets, Return on Equity, Net Profit Ratio, Earnings Per Share
and Net Interest Margin. Debt to Equity Ratio and Debt to Total Fund Ratio were
used as proxies for the capital structure. The data was analyzed using the panel data
regression method. The results indicate that Debt to Equity Ratio has a significant
impact on Net Profit Ratio and Return on Assets as well as Debt to Total Assets Ratio
has significant impact on Return on Capital Employed, Gross Profit Margin and
Earnings per Share. The findings are helpful to the practitioners in the banking
industry to determine the proper mix of debt and equity in order to maintain the
optimum financial performance level for the firms success.
Keywords: Capital Structure; Colombo Stock Exchange; Commercial Banks;

Financial Performance
27
Effect of Audit Committee Characteristics on Real Activities

Manipulation: Evidence from Nigerian Listed Manufacturing Firms
A. B. Mauda1 & D. A. I. Dayaratne2

PhD Candidate, Faculty of Graduate Studies, University of Colombo1
Department of Accounting and Finance, University of Sabaragamuwa, Sri Lanka2
ahmedmauda@gmail.com1, indunildaya@gmail.com2
This study examines the effect of audit committee characteristics on real activity
manipulation of listed manufacturing firms in Nigeria. The data were gathered from
the annual financial reports of sampled firms for period of five years (20102014).
The sample size of the study is 36 listed manufacturing firms. The study employed
longitudinal panel, multiple regressions for the purpose of data analysis, using panel
data to examine the role of corporate governance (audit committee attributes) on real
activities manipulation practices. The model applied is composed of a single
dependent variable; real activity manipulation and one explanatory variable (audit
committee) with four proxies - audit committee independence, the number of
meetings, financial literacy and audit committee size. The results reveal that, the
independent audit committee has found to be effective in restraining real activities
manipulation practices by the management in preparing financial statement. However,
the other audit committee attributes like audit committee size, audit committee
literacy and audit committee meetings were found to be in-significant in deterring real
activities manipulation practice of listed manufacturing firms in Nigeria. The Nigerian
Securities and Exchange Commission should make it mandatory that board should
increase the proportion of the independent audit committee members as they appear to
be efficient in constraining manipulative accounting practices by management.
Keywords: Audit Committee; Real Activities Manipulation; Manufacturing Firms;

Nigeria
28
Influence of Macro-Economic Variables on Foreign and Local

Trading Behaviour in Colombo Stock Exchange
A. W. G. C. N. Wijethunga1, D. A. I. Dayaratne2a & D. G. Dharmaratne2b

Department of Accountancy & Finance
P. Box 02, Belihuloya, Sri Lanka.
Wijethunga1988@gmail.com1, indunildaya@gmail.com2a, dunu@sab.ac.lk.2b
This paper attempts to investigate the impact of macroeconomic variables on the

trading pattern of domestic institutional and individual, foreign institutional and
individual investors in Colombo Stock Exchange (CSE) during 2005 to 2015. We
selected Treasury bill rates (91 days, 182 days, and 364 days), Exchange rate and
Market Index as macro-economic variables. Autoregressive Distributed Lag model
(ARDL) with error correction model is used to enhance the purpose of this study.
Findings established a Long run equilibrium relationship between macro-economic
variables and foreign institutional and domestic investors trading. No short run
equilibrium of all investors is observed. Long run ARDL coefficients revealed that
ASPI negatively effect on the foreign individuals. The results remark that ASPI
positively effect on trading of domestic investors in short run. Further, the findings
strongly support to establish that domestic investors consider ASPI index in short
term investments because changes in the macro environment fully reflected in the
market index.
Keywords: Colombo Stock Exchange; Foreign Investors; Local Investors; Macro-

economic Variables
29
Relationship between Risk and Return in Colombo Stock Exchange:

A Beta Sorted Portfolio Approach
A. A. A. G. Kumara1, D. A. I. Dayaratne2a & A. W. G. C .N. Wijethunga2b

Department of Accountancy and Finance
aagkumara@gmail.com1, indunildaya@gmail.com2a, wijethunga1988@gmail.com2b
This paper attempts to examine the risk and return relationship in Colombo Stock
Exchange (CSE). The sample composed of 53 listed companies in the CSE which
have at least 200 trading days per year. The sample period spans 2005 January to
2015 September. Initially, we run an Ordinary Least Squares to determine the beta
coefficient of each company. Based on beta we formed three portfolios as 30th
percentile low beta stocks, 70th percentile moderate beta and the rest is high beta
stocks. Then, we examined the risk and return modalities of each portfolio. The
findings very well establish a negative risk and return relationship of individual
securities. However, High beta stock portfolio demonstrates high returns and vice
versa. Importantly, we also observed significant differences in risk and returns among
three portfolios.
Keywords: Beta; Portfolio; Risk and Return
30
Effect of Corporate Social Responsibility on Financial Performance

with Special Reference to the Hatton National Bank PLC
H. T. M. De Silva
University of Sri Jayewardenepura, Sri Lanka.
htmalingadesilva@gmail.com
Corporate Social Responsibility (CSR) is one of the business strategies and that
mitigate potential risks involve with the organizations. Hatton National bank (HNB)
PLC had the spent millions of funds in CSR and this study aims at identifying the
effects of CSR on financial performance of the HNB PLC. Usually an organization
spends funds in CSR to increase the performance of the organization and as per
financial highlights of HNB PLC, downward trend can be noted in ROE within the
recent five years (2009 -2013) and thereby objectives of the study are set to answer
the identified problems. Objectives of this can be listed as follows: - (1) identify the
impact of CSR on financial performance of the HNB PLC and (2) determine the link
between the CSR and financial performance of the HNB PLC. Return on Asset
(ROA) and Return on Equity (ROE) were used to measure financial performance and
to achieve objectives of the study, quantitative approach was used to analyze the data.
Data collected through annual reports of the HNB PLC and analysis part of this study
carried out by taking thirteen years financial data of HNB PLC. SPSS statistics
(ver.20) was used as the data analytical tool. Correlation analysis indicated that CSR
positively correlate with the ROA and the ROE. Considering all the facts and figures,
the researcher concludes that there is a positive relationship between the CSR and
financial performance and the CSR has positive impact on the financial performance
of HNB PLC.
Keywords: CSR; Financial Performance; ROA; ROE
31
Effect of Financial Development on Economic Growth:

Evidence from South Asian Countries
R. S. Hewage1 & T. U. I. Peiris 2

hewagesampath@mgt.sab.ac.lk1, tuipeiris@gmail.com2
A growing line of research emphasizes the requirement of a well-functioning financial

system for a sustained economic growth. Meanwhile, a good financial system is
characterized by its continuous growth. This encourages hypothesizing significant
economic growth effects of financial development. Therefore this study investigates
short-run and long-run relationship between financial development and economic
growth with reference to South Asian countries. However, due to data constraint, only
India, Nepal, Pakistan, and Sri Lanka are considered over the period 1995 to 2012.
Broad money supply to the GDP and bank deposits to GDP are taken as proxies for
financial depth and banking sector development respectively. Long-panel estimation
techniques of Mean Group, Pool Mean Group, and Dynamic Fixed Effect models are
used in obtaining the results. Findings of the study indicate that the development of
financial depth is significantly influencing economic growth in short-run, while the
development in banking sector depicts long-run growth effects. As expected, growth
effects are faster through banking sector development, since its speed of adjustment
to the long-run is relatively high. However, development in financial depth carries
faster growth effects for India and Sri Lanka.
Keywords: Economic Growth; Financial development; Long-panel models; South

Asia
32
Banking and Insurance
33
Factors Affecting on Cross Selling of Dwelling House and Personal

Accident Insurance for Private Motor Car Policyholders in Sri
Lanka
M. Vithiyalani1 & K. D. U. D. Fernando2

Faculty of Management Studies, Sabaragamuwa University of Sri Lanka,
P.O.Box.02, Belihuloya, 70140, Sri Lanka.
m.vttii@gmail.com1, kdudfernando@gmail.com2
This paper attempts to examine the private motor car insureds' cross selling viability
on dwelling house and personal accident insurance policies in Sri Lankan non-life
insurance industry. There are 15 general insurance companies after the segregation
regulation was introduced while three companies are still operating as composite
insurers accounting 55.3 billion rupees of growth written premium and industry has
grown by 3.66% in general insurance in 2014..All the general insurance companies
portfolio dominated by motor insurance, which is the highest loss line class among
general product classes as 76.48%. Cross selling non motor products to motor
insurance policies became an essential requirement for general insurance companies
because this will improve the combined performance ratio. The study was carried out
using a range of qualitative and quantitative methods consisting of questionnaires,
using randomly selected 250 insurance advisors and in-depth interviews with 25
senior managers from 18 insurance companies with secondary data. The study
revealed that cross selling direct antecedents namely cross selling self-efficacy,
motivation and role clarity were valid predictors of cross selling sales performance
and there was a positive impact by those variables. Out of the study, managers were
also perceived that cross selling is an idle strategy for developing the new business in
general insurance industry to face the future challenges. Industry should initiate non
motor product introduction into sales advisors job induction and structured training
programmes. Further a proper reward system with a valued incentive system must be
implemented to the sales advisors for a better development of the general insurance
industry.
Keywords: Cross Selling; Self-efficacy; Sole Clarity; Non Life Insurance
34
Effect of Job Satisfaction and Job Stress on Perceived Job

Performance of Insurance Agents in Sri Lanka
R. S. Hewage1 & A. A. M. D. Amarasinghe2

hewagesampath@mgt.sab.ac.lk1 , malithamarasingha@yahoo.com2
This study examines the factors the affect the Job Performance of an Insurance Agent
in Sri Lanka. Job Satisfaction and Job Stress were selected as the major factors which
affect the Job Performance. A sample was selected on the convenient sampling
technique which contained 50 insurance agents from different Insurance companies.
Questionnaires were used to collect the data from the selected sample. Regression
model was used to analyze the collected data. Two models were developed to find out
the single linear relationship between two independent variables with the dependent
variable. Before moving to the regression, a correlation was tested on Piersons
Correlation coefficient. Correlation results showed that though there is a high
association between job Performance and Job Satisfaction, Job Stress has less
association with Job Performance. The regression results showed that the Job
Satisfaction affect to the Job Performance. It showed a significant negative
relationship. But it is a contradictory situation where previous literature shows a
positive relationship between these two variables. This result implies that when the
satisfaction increases the performance will reduce. To test the result in first regression
model, a Granger Causality test was done. The result of the causality test showed one
way causal relationship that the satisfaction has an effect on Job Performance but
Performance has no effect to the satisfaction. The results of the Granger causality test
confirmed the regression relationship. Second regression model showed that there is
no relationship between Job Stress and Job Performance.
Keywords: Job Performance; Job Satisfaction; Job Stress; Insurance Agents
35
Awareness of Insurance among the Students of the Faculty of

Management Studies, Sabaragamuwa University of Sri Lanka
K. A. D. K. H. Kahandawala1, R. P. D. Jayasena2a, L. N. P. Perera 2b ,

S. P. K. D. Senanayake2c & K. D. U. D. Fernando 2d
Department of Accountancy and Finance, Sabaragamuwa University of Sri Lanka,
P.O.Box.02, Belihuloya, 70140, Sri Lanka
kumesha.kahandawala@gmail.com1, dilharalakruwani@gmail.com2a,
nipunaperera93@gmail.com2b, kasundhananjaya92@gmail.com2c ,
kdudfernando@gmail.com2d
Insurance has been playing a vital role since this concept and practice started in the
world for the economic development of economic and making peace of mind among
every individual and in the world. Thus, insurance plays a crucial role in sustainable
growth of an economy; insurance companies are facing many difficulties due to the
low awareness of the Insurance products among the people. The insurance products
are still not in wide use and still the insurance penetration of the country is around
1.1%. The objectives of this study are to explore the factors influenced for the
awareness of insurance, to measure the impact of such factors to the awareness and
find out the relationship between those factors for the Insurance Awareness. This
study dealt with quantitative research methods and study was carried out with a
sample of 300 students of the faculty of Management studies to gather data through a
structured questionnaire. Data were analyzed by chi-square using categorical data
analysis. Results proved that age, sex, religion, type of family, race, monthly family
income, literacy state of the earner of the family, profession and residence area had
been significantly affected on the awareness of insurance. To improve the attitude
towards the Insurance, the Awareness must be increased through formal education
under the government guidance and by improving the client orientation by the
insurance companies.
Keywords: Insurance Awareness; Insurance Penetration; Peace of Mind; Economic

Development
36
Popularity of Micro-insurance Mechanisms and the Poverty of

Labourers in the Tea Industry in Estate Sector
K. D. U. D. Fernando1 & G. Damayanthi2

Sabaragamuwa University of Sri Lanka.1
District Labour Office, Badulla2
kdudfernando@gmail.com 1, geetha.damayanthi90@gmail.com 2
Micro-insurance is supposed to reduce not only the risk of poverty from negative
consequences, but also to improve the social wellbeing of the vulnerable crowds.
Thus the popularity of the Micro-insurance in a society is a significant tool to improve
those with marginal social status to participate fully in economic and social life. Tea
industry in estate sector in Sri Lankan is still suffering the negative consequences
accounting to 8.8% of poverty while the highest recording in Uwa province was by
13.5% in 2013. The study was conducted to reveal the factors affecting unpopularity
of micro-insurance among the labourers in the tea industry in estate sector with
special references to Welimada Secretariat Division. The objectives of this study
were: the first to explore the factors more influence the unpopularity of micro-
insurance among laborers, the second is to measure the impact of such factors on
poverty and the third is to examine issues and challenges faced by the providers of
Micro-insurance in distribution mechanism. Quantitative research method has been
carried out to initiate the study with the sample of 218 laborers for the primary data
collection through a structured questionnaire designed on literature review. Data were
analyzed by a regression model and categorical data analysis. The results proved that
age, marital status, educational level, income level, monthly expenditure and the
number of children had a significant impact on the unpopularity for micro-insurance
under categorical data while regression analysis showed that the knowledge of micro-
insurance (p = 0.818) and the trust on micro-insurance (p = 0.857) is significantly
different from zero. The providers of micro-insurance are faced with huge obstacles
due to the failure of proper awareness and position of different micro-insurance
products. The poverty alleviation mechanism in the country must be addressed by
37
design tailor made micro-insurance products rather than business development to reap
the real fruit of micro-insurance.
Keywords: Micro-insurance; Poverty; Social Inclusion; Social Well being
38
Farmers Perception, Awareness and Influential Factors towards

Insurance of Paddy Cultivation
S. S. Weedige
Department of Insurance and Valuation, Faculty of Business Studies & Finance
Wayamba University of Sri Lanka, Kuliyapitiya, Sri Lanka.
wssanjeewa@gmail.com
Crop insurance (CI) is an efficient risk management tool in agriculture which secures
the socio-economic situation of the farmers. The prime objective of the CI is to
protect farmers against the risk of crop failure through the process of indemnifying. It
contributes to self-reliance and self- respect among farmers and also helps to stabilize
farmers income, encourage farmers to adopt improved technologies and increase the
flow of credit to the farmers by reducing the risk for the credit agencies. The benefits
of CI are well-known, but there is a huge lack in voluntary participation of farmers in
the scheme. This study was aimed to assess farmers perception, awareness and
influential factors towards purchasing of a CI as well as to identify the way of revamp
crop insurance schemes in Sri Lanka. A randomly selected sample of 60 farmers both
insured and non-insured category in the Kurunegala district was used to collect the
data. The results show that the majority of the farmers are willing to join for CI and
satisfaction over the prevailing crop insurance schemes among farmers is very low.
Further, the results revealed, farmers satisfaction towards CI scheme, obtaining crop
loans, social participation of farmers and their affordability to premium rate positively
impact on their willingness towards CI while farmers capacity to manage with own
resource impact negatively. It is necessary to implement the awareness programs
about benefits and importance of CI to enhance the adoption of crop insurance
schemes in Sri Lanka.
Keywords: Crop Insurance; Risk Management; Insurance Industry in Sri Lanka
39
Determinants of Retention of Insurance Agents in Life Insurance

D. G. L. Rasika1, W. S. Sanjeewa2a & T. Perera2b

Department of Accountancy & Finance,Sabaragamuwa University of Sri Lanka1
Department of Insurance & Valuation, Wayamba University of Sri Lanka2a
Human Resource Department, Alliance Insurance Lanka Ltd2b
devundaragedara@gmail.com1
Financial planning is very personalized and requires greater attention in the insurance
sector than in any other market. The needs and wants of individuals or families differ
from person to person and require human touch. Due to this among all distribution
channels, the insurance agents become the first choice in insurance marketing. As the
insurance marketing is highly dependent on agents channel, retaining the agents for a
longer period is also very critical. This paper attempts to identify the key factors
influencing the retention of insurance agents in Sri Lanka. A sample of 140 agents
who left the company during 2014 and 2015 was used to collect data through a
structured questionnaire from three leading insurance companies in Sri Lanka. The
chi-square test was used to analyze the data. The findings reveal that the Recruitment
& Selection, Training and Remuneration fond have a significant effect on retention of
insurance agents whereas Supervisory Leadership does not have a significant effect
on retention. The findings imply that the senior management of the life insurance
companies should uplift the managerial actions for enhancing the level of agents
retention and the regulator of insurance industry in Sri Lanka to upgrade the licensing
system of insurance agents.
Keywords: Agents Retention; Insurance Agents; Life Insurance Industry
40
Determinants of Insurance Policy Lapsation: A Case Study in AIA

Insurance PLC
T. Ranaweera1 & D. G. L. Rasika2

devundaragedara@gmail.com1 , rtbranaweera@gmail.com2
Life insurance penetration level is still very low in Sri Lanka compared to the
developing countries even in the South Asian Region. In spite of the slow growth rate
of life insurance industry, higher rate of lapsation of life insurance policies is one of
the major issue in increasing the level of insurance penetration. This study attempts to
identify the factors influencing the life insurance policy lapsation through a sample of
160 life insurance customers of bancassurance channel in AIA Life Insurance PLC.
Chi-square Analysis and Logistic Regression were used to evaluate the impact of
gender, age group, marital status, income level, insurance agents behavior and
service quality on life insurance policy lapsation in first three months after the
commencement of the insurance agreement. The findings revealed that gender, age
group, marital status, income level, and insurance agents behavior significantly
affected on life insurance policy lapsation. Tangibility and responsiveness do not have
a significant effect on policy lapsation but reliability, assurance and empathy have a
significant effect on policy lapsation. The findings imply that the life insurance
companies should implement programmes to develop the skills of the life insurance
sales persons based on the value education and follow target marketing strategies
focusing the middle and high income level people.
Keywords: AIA Insurance PLC; Bancassurance Channel; Insurance Penetration

Level; Lapsation of Insurance Policies; Life Insurance Customers
41
Utilization of Media Mix for Life Insurance Industry in Sri Lanka
H. M. D. S. Wijenayaka
Department of Insurance and Risk Management, SANASA Campus Ltd., Kegalle.
denushikasdw@gmail.com
Sri Lankan society has yet to learn about the benefits of Life Insurance. Due to lack of
awareness, the penetration level of the insurance industry is very low. The penetration
of life insurance in Sri Lanka is only 0.46% (IBSL Report, 2014). This is quite low
given that the population of Sri Lanka now stands at over 20.67 million. The most
employed people are not fully aware of the importance and value of Life Insurance.
Commenting on the attitude of Sri Lankans in matters like Insurance, Sri Lankans
need "wake-up" calls. This is because most employed people are not fully aware of
the importance and value of Life Insurance. Media Mix refers to a combination of all
the media used by the companies to communicate with customers about the
importance and the value of Insurance. With well-designed products and benefits,
each company is trying to capture the huge untapped market. Communication has
become a very important factor to reach consumers and to overcome the legacy of the
Life Insurance Industry. This paper attempts to identify the various communication
media that customer prefer most and examines whether they are exposed enough to
such media. In this study, customers preference on various communication media
was identified by the researcher. In this study, the target sample size was 100 life
insurance policyholders. The researcher discovered the different promotional mix
strategies adopted by the life insurance companies. More respondents have
emphasized on Public Relations such as direct marketing and the word of mouth.
However, at present, the life insurance companies have emphasized more on
telemarketing, advertising in electronic and print media and advertising campaigns as
additional mix strategies. The researcher recommended that the customer relationship
management is the best method to create a image in the mind of the customers of Life
insurance product.
Keywords: Insurance; Media Mix; Communication
42
Technology Adoptability of Insurance Agents: A Case Study in Asian

Alliance Insurance PLC
L. H. I. Amali1 & D. G. L. Rasika2

lamahewage246@gmail.com1, devundaragedara@gmail.com2
Insurance companies have identified the worth of using new technological facilities to
carry out their business processes effectively and efficiently. One aspect is automating
their agents with new technological products to obtain quotations and policy details,
pay premiums, review marketing and communicating with customers. Although
insurance companies have introduced the latest technological facilities for their
agents, the tendency to adopt the new technology is very low. This study applied the
Unified Theory of Acceptance and Use of Technology to identify the factors affecting
the technology adoptability of insurance agents. A sample of 220 life insurance agents
of Asian Alliance Insurance PLC were selected using purposive sampling method and
data was collected through a self-administered questionnaire. Correlation and
Multiple Regression Analysis were carried out to analyze the data. The results show a
significant effect of Effort Expectancy, Facilitating Conditions, Performance
Expectancy, Self Efficacy and Anxiety on Technology Adoptability of Insurance
Agents. The results imply that the insurance companies should provide more user
friendly technological facilities, assess all the users requirements, create self-
confidence among the insurance agents to increase the technology adoptability rate of
the insurance agents.
Keywords: Asian Alliance Insurance PLC; Insurance Agents; Technology

Adoptability
43
Influence of Bank Interest Rate on the Buying Behaviour of Life

Insurance Products: A Survey among Selected Households in Sri
Lanka
S. K. Gamage
Department of Insurance & Valuation
Wayamba University of Sri Lanka
gamagessk@yahoo.com
A stable financial system creates a favorable environment for depositors and investors
and encourages financial institutions and markets to function effectively and
efficiently for promoting investment and economic growth. The maintenance of
financial stability creates a trust-worthy environment to savers and investors. The
banking sector and insurance sector are treated as safe and secure twin pillars for
savings and investments. Bank Interest rate is the reward for depositors and investors.
Lower interest rate makes savings less attractive and alternatively, a lower interest
rate may encourage other forms of savings and investments. The problem of this study
is does the bank interest rate influence the consumer buying behavior of life
insurance products? Accordingly, the objective of this study is to examine the
relationship between bank interest rate and the demand for life insurance products. In
this study, both secondary and primary data collected from a sample of 200
households selected through stratified random sampling technique were used and the
data was analyzed using quantitative statistical techniques. The results revealed that,
out of six alternative investment sources 66 per cent of the households most prefer to
invest in fixed deposits in banks and only 4 per cent of them prefer to invest in life
insurance. Results revealed that 81 per cent of them agree that bank interest rate
directly affect their buying behavior of life insurance products. Accordingly, it can be
concluded that, interest rate of the banks affects the consumer buying behavior of life
insurance products.
.
Keywords: Interest Rate; Life Insurance; Investment; Consumer Buying Behaviour
44
Perception of Insurance Professionals on Government Intervention

for Life Insurance Industry in Sri Lanka
S. K. Gamage
Department of Insurance & Valuation
Wayamba University of Sri Lanka
gamagessk@yahoo.com
Life insurance plays an important role in promoting domestic savings and investments
for the economic development of the country. During last six decades since the
independence, the government of Sri Lanka has followed different policy decisions
regarding the life insurance industry in each era and includes nationalization,
liberalization, privatization, re-nationalization and de-regulation. At the end of 2014,
15 companies were operating in life insurance market and the penetration of life
insurance as a per cent of GDP in 2014 was 0.46 per cent compared to 0.56 per cent in
2010. The problem of this study is that does the government of Sri Lanka provide
adequate support to enhance the market penetration in life insurance in Sri Lanka?
Accordingly, the objective of this research is to investigate the life insurance
professionals perception regarding the support given by the government to enhance
life insurance. In this study, a sample of 25 managers of top five insurance companies
was selected using purposive sampling technique. Focused group interviews were
conducted to collect the primary data and analysis based on qualitative approach.
Majority of the insurance professionals perception was that, frequent change in
governments policy decisions negatively affects the consumer trust on life insurance
market. Their perception is that, financial market is not stable, no long term
investment instruments, not established the foreign exchange rate, governments tax
on life insurance reduces the customer benefits and it is the responsibility of the
government to make awareness programmes to enhance the knowledge of general
public about life insurance products. Accordingly it can be concluded streamlining the
financial market, providing tax concessionary on life insurance, making awareness of
general public by the government will lead to increase the market penetration of life
insurance.
Keywords: Life Insurance; Governments Policy; Professionals Perception; Market
Penetration
45
Financial Literacy and Success of Micro Business: Evidence from

Small Enterprises in Sri Lanka
W. A. R. Senevirathne1 & W. A. D. K. Jayendrika 2

Department of Management Studies, Faculty of Humanities and Social Sciences, Open
University of Sri Lanka.1
Department of Accountancy, Faculty of Business and Finance, Wayamba University of Sr
Lanka.2
asankaousl@gmail.com1 , kaushalya_j@yahoo.com2
The purpose of this study is to evaluate the level of success of micro business in Sri
Lanka through five different dimensions of financial literacy of business owners.
Apart from that, relationship was built-up between financial literacy of business
owners and financial well-being of their business. A Likert scale questionnaire was
administered among 183 micro business owners whom were randomly selected from
the Western Province in Sri Lakethe results show that the variables used to measure
the business success have strong correlation with the financial literacy. However,
Money, Credit and Debt Management did not have significant correlation with
financial strengths. The results also revealed that 53.6% of micro businesses are
financially strong and 63.4% of them have a sufficient required rate of return (ROI).
In addition to that, 52.5% of the businesses have sufficient short term assets against
short term liabilities. Overall mean value of business success is 3.68. Interestingly
94.5% of business owners forecasted that their business will survive for more than the
next five years. Mean values which measure the level of financial literacy are
recorded as money 3.96, Debt 4.01, Credit 3.97, Risk 3.76 and Investment 3.70. These
indicators demonstrate that micro businesses have the potentiality to be success in the
future. However the existing level of financial literary of micro business owners
should be improved to achieve sustainable business development.
Keywords: Business Success; Financial Literacy; Micro Business
46
Factors Determining the User Acceptance of Mobile Banking: with

Special Reference to Sampath Bank PLC
D. G. L. Rasika1, H. P. A. P. Pathirana2a & P. V. Pathirana2b
Sabaragamuwa University of Sri Lanka.1 & 2

Peoples Bank.2b
devundaragedara@gmail.com1, dgasitha2012@gamil.com2a,
pathirana1950@gmail.com2b
With the massive investment and efforts contributed in developing the mobile
banking facilities, the varieties of convenient functions invented by mobile
technology has greatly encouraged mobile users to engage in mobile banking services.
This study examined the factors leading to the user acceptance of mobile banking
customers in the commercial banks in Sri Lanka, with specific emphasis on Sampath
Bank PLC. The statistical model was developed based on Daviss Technology
Acceptance Model (TAM), Innovation Diffusion Theory (IDT) and User Technology
Acceptance User Technology (UTAUT). The random sampling method was used to
collect the data and a questionnaire was administered among 264 mobile banking
customers of Sampath Bank Head Office. Multiple Regression was carried out to find
the impact of Perceived Usefulness, Perceived Ease of Use, Perceived Credibility,
Social Influence and Relative Advantages on Users Acceptance of Mobile Banking.
The findings show that Perceived Usefulness and Perceived Ease of Use are the
highest influential factors to the user acceptance of mobile banking. The bank should
implement the strategies to provide a better strategic insight in order to design and
implement the mobile banking services that yield higher consumer acceptance in the
Sri Lankan market.
Keywords: Mobile Banking; Sampath Bank; IDT; TAM; UTAUT
47
Bank Interest Rate Reduction and its Impact on Channelling of

Funds in Sri Lanka
A. M. M. P. K. Alweera
National University Ireland, University College Dublin (with the affiliation of National
School of Business Management, Sri Lanka).
priynagikamanoja@gmail.com
This study examines how far the recent bank interest rate reduction is consistent with
the financial market reforms carried out from 1977 onwards, and whether its expected
results have been achieved. Prior to reforms, a policy of administered rate of interest
was followed, but, high inflation in this era made real interest rates negative, creating
a shallow financial market, channeling even the meager funds to sub-optimal projects
in the public sector at the cost of the optimal projects elsewhere. This was identified
as a cause for economic stagnation prior to 1977. But with the financial reforms,
bank rates were increased to make real interest rates positive to have a deeper
financial market to channel more funds to the optimal projects. However, until the
recent past high inflation in the economy forced to keep nominal interest rates higher
for maintaining positive rates of real interest to attract more funds to banks. This,
however, generated a huge discontent among investors complaining that cost of funds
was unbearable. Consequently, the Central Bank has substantially reduced bank rates
starting from 2007 onwards. Although this reduction made savers unhappy, it was
expected that it would be welcome by investors. However, since these changes are not
yet researched, this study, based on the McKinnon-Shaw Hypothesis of financial
reforms and carrying out a survey of a selected bank customers, examined to what
extent investors have responded to interest rate reduction. Accordingly, it found that
although the recent bank interest rates reduction is not contrary to the financial
reforms so far carried out, bank lending, irrespective of investors long agitation for
such a reduction, has only moderately increased.
Keywords: Financial Reforms; Inflation; McKinnon-Shaw Hypothesis; Real Interest

Rates; Funds Channeling
48
Factors Affecting on Awareness of Credit Information Bureau of the

Borrowers with Special Reference to Peoples Bank of Sri Lanka
R. C. S. J. Ranabahu1, K. D. U. D. Fernando2a & M. Vithiyalani2b
Department of Accountancy and Finance, Faculty of Management Studies, Sabaragamuwa
University of Sri Lanka
Shasiranabahu91@gmail.com1, kdudfernando@gmail.com2a , m.vttii@gmail.com2b
Advanced economies and financial systems are operating efficiently with the help of
easily available credible information. The banks provide credit facilities to develop
retail and corporate line trading activities and improve the standard of living
accordingly. In Sri Lanka, after 1980s the credit culture have been shaken because of
the crisis aroused in the sector. As a result of the unfavorable credit culture regulatory
bodies established Credit Information Bureau (CRIB) which provides comprehensive
credit reports to promote credit worthy society still borrowers have a huge knowledge
gap about CRIB services. The aim of the study is to investigate the factors affecting
on the awareness of credit information bureau (CRIB) of borrowers with special
reference to Peoples Bank. The study was conducted to explore the factors affecting
on the CRIB awareness including age, gender, education level, income level and
employed type. To achieve the aim, five basic hypotheses are investigated as the
independent variables and CRIB awareness. The study was carried out using
quantitative research method using structured questionnaires to gather primary data by
selecting 80 personal loan customers from peoples bank and that was analyzed by
using categorical data analysis by chi square statistics. The findings revealed that
independent variables and CRIB awareness are related to each other. And major five
variables were highly affected to CRIB awareness, which are education level and
employment type. Education level and employed type are affecting to the CRIB
awareness. The study provides more information to the customers such that find outs
the major reasons for CRIB awareness and helps to get decisions on the issue while
providing some relative information. The study suggests that authorities further
develop the system to aware more on credit worthiness and create a culture among the
nation to give recognition for the people who have better credit discipline.
Keywords: Credit Information Bureau; Credit Worthiness; Non-performing Loans;
Repayment Capacity
49
A Study on the Factors Affecting to Use E-Learning Systems by

Banking Assistants of Hatton National Bank
G. Kanchana1 & K. L. G. B. Dharmarathne2

Department of Business Management, Faculty of Management Studies, Sabaragamuwa
University of Sri Lanka.
kgnayomi@gmail.com1, buddhi@mgt.sab.ac.lk2
E-learning is an emerging new paradigm of learning and training in workplaces with

vast technological advancements in the world that creates a platform for the learners
to learn where they are available and without time constraints in the recent decades.
Thus, the study is aimed at E-Learning System of Hatton National Bank PLC which is
one of the well-established, island-wide commercial bank in Sri Lanka. The objective
of the study is to find out the factors that affect to use of E-Learning systems by
Banking Associates and the study is carried out at Hatton Nation Bank. The model is
developed using the factors of Social Influence, Perceived Support, Perceived Self-
efficacy and Computer Anxiety which effect on behavioural intention to use E-
learning system. The population of 84 Banking Associates gave their responses to the
survey questionnaires in South Western Region. The survey data were analyzed using
inferential statistics of Persons Product Moment Correlation and Multiple regression
analysis. The major finding of the study revealed that the Perceived Self-efficacy has
a greater impact on the usage of E-learning system which denotes an individual factor.
On the contrary, one of the strong predictor of Social Influence has been rejected
since the p-value was insignificant. Perceived Support has shown a positive
relationship and Computer Anxiety indicated a high negative relationship with the
Behavioural Intention. The observed model proposes significant predictors which
influence on E-learning system of Hatton National Bank PLC.
Keywords: Computer Anxiety; Perceived Self-efficacy; Perceived Support; Social

Influence; Usage of E-learning
50
Factors Influencing the Adoption of Internet Banking: A Case of

Commercial Banks in Sri Lanka
D.G.L. Rasika1, T.G.N. Gayani2a & E.A.S.P. Kumara2b
Sabaragamuwa University of Sri Lanka 1 &2a

Peoples Bank2b
devundaragedara@gmail.com , nadeekagayani855@yahoo.com2a, sisira_epa@yahoo.com 2b
1
Internet banking service provides true mobility, convenience and speed service. Still
most of the retail customers do not accept this innovative service and they resist to use
or less use. This paper investigates the factors influencing the adoption of internet
banking by using 143 retail customers of five leading commercial banks in Sri Lanka.
Decomposed Theory of Planned Behavior was used to develop the model to identify
the factors influencing the customers decision whether to use internet banking. A
sample survey was conducted to collect data from the registered customers for
internet banking in leading five commercial banks in Sri Lanka through a structured
questionnaire using the convenience sampling method. Correlation and Multiple
Regressions were used to analyze the data. The findings revealed that the relative
advantage, experience, self- efficacy, technological support have a significant positive
effect on intention towards using internet banking whereas compatibility, trial ability,
risk and complexity have a negative effect on adoption for internet banking. The
policy makers should follow customer oriented strategies to increase rate of the
internet banking users in the early adoption stages. The banks can rationally use pull
strategy to attract new customers for the service and to protect the existing internet
banking users for long run.
Keywords: Commercial Banks; Decomposed Theory of Planned Behavior; Internet

Adoption; Internet Banking
51
Factors Affecting the Employee Motivation: A Case Study in Bank of

Ceylon
D. M. M. Sandaruwan1 & D. G. L. Rasika2

The primary objective of this study is to identify the factors that affect the employee
motivation as a case study of Bank of Ceylon Trade Finance Unit. The Opportunities
for career growth and development (OPP), Job Security (JOBSEC), Salary and Other
Financial Incentives (SALOTH) and Working condition (WOC) were used as the
independent variables that affect the employee motivation. The sampling survey
method was used to collect the data through a structured questionnaire from 100
employees of the Bank of Ceylon Trade Finance Unit. Multiple Regression Analysis
was used to analyze the data. The findings indicate that the Opportunities for Career
Growth and Development, Job Security, Working Condition have a significant impact
on employee motivation while the Salary and Other Financial Incentives do not have
a significant impact on employee motivation. The outcome of this study confirmed
that working condition is the most influencing factor to the employee motivation.
Therefore, the managers should pay more attention on employees working condition
when arranging the employees motivational activities in the bank.
Keywords: Bank of Ceylon; Career Development; Employee Motivation; Job

Security; Working Condition
52
Factors Influencing the Job Satisfaction of Banking Sectors

Employees: A Case Study in Sampath Bank PLC
T. M .N Tharanga1 & D. G. L.Rasika2

The study examined the factors determined the job satisfaction of employees in the
banking sector as a case study in Sampath Bank PLC. The conceptual framework was
developed using the Theories of Human Motivation, Locke's Value Theory and
Affective Event Theory. A sample of 105 employees in Sampath Bank Card Centre
were selected through the disproportionate stratified random sampling method.
Remuneration and Recognition, Training and Career Development, Organizational
Culture & Policies, Internal Communication & Team Work, Work Environment &
Job Content and General Life Satisfaction were used as the independent variables
which are influencing the level of Job Satisfaction of the employees in the banking
sector. Correlation and Multiple Regression analysis were carried out to analyze the
data. The analysis reveal that Working Environment, Internal communication,
Training and Career Development and Organizational Policies are the highly
influential variables for job satisfaction of the employees in the Credit Card Centre.
Based on the research findings it is recommended that the bank should establish a
strong working environment, organize programs to the executive level employees and
managers on how to continue a strong cooperation with their subordinates, promote
the non-monetary compensations methods, formulate an employee friendly culture in
order to keep a higher level of job satisfaction among the employees.
Keywords: Banking Sector; Job Satisfaction; Sampath Bank PLC
53
Business Management
54
Impact of Big Five Personality Traits on Employee Job Involvement

in Brandix Apparel Solutions Limited-Intimate Apparel, Welisara
W. B. S. M. Wijesingha1 & A. C. Jayatilake 2

SGIS and Progress Monitoring Division,Urban Development Authority
6th and 7th Floor, Sethsiripaya,Baththaramulla.1
Department of Business Management, Faculty of Management Studies,
Sabaragamuwa University of Sri Lanka,Beliuloya.2
shyamiwijesingha@gmail.com1 amaliechathurika@gmail.com2
Job Involvement has become a popular topic in t Human Resource Management as

well as the modern business context. Presently, many organizations pay their attention
on employee Job Involvement since it is a crucial factor for any organizations
success. The researcher carried out a pilot survey and revealed that there is lack of job
involvement within the employees of Brandix Apparel Solutions Limited Intimate
Apparel (BASL-IA) in Walisara. Based on the literature, the researcher has used Big
Five Personality Traits to find out whether there is an impact on employee job
involvement. Among 702 employees in BASL-IA, 200 employees were taken as the
sample using stratified sampling method and data was gathered through a self-
administrated questionnaire. Data was analyzed using multiple regression by taking
job involvement as dependent variable and neuroticism, extroversion, openness to
experience, conscientiousness, and agreeableness as independent variables which are
Big Five Personality Traits by taking the support of Statistical Package for Social
Sciences (SPSS) 21.The results of the study conveyed that there is a positive impact
of extroversion, openness to experience, and conscientiousness on job involvement
while neuroticism reported a negative impact on job involvement. Further, it was
revealed that there is no any impact of agreeableness on job involvement. Among the
significant personality traits extroversion trait was found as highly affected trait on
employee job involvement. From the study, it was recommended to the management
of BASL-IA to consider the employee personality traits more when they formulate
personal development plans, training sessions, and job roles to employees.
Keywords: Agreeableness; Conscientiousness; Extroversion; Neuroticism; Openness

to Experience
55
A Study on the Impact of Fair Treatment and Working Environment

on Organizational Commitment
K.R.M.C. Thilakarathne1 & I. A. Ekanayake 2

Department of Business Management, Faculty of Management Studies,
malkithilakarathna@ymail.com1, achinthaeka@gmail.com2
Selecting and retaining a committed work force is still challenging for any
organization. This study was aimed to investigate the impact of fair treatment and
working environment on organizational commitment of employees at a firm operating
in apparel industry in Sri Lanka. Since the machine operators play a vital role of a
garment manufacturing factory, they were treated as the target population of this
study. Out of 867 machine operators a sample of 269 was selected using the cluster
sampling method. The data were collected through a questionnaire survey. A multiple
regression was performed to investigate the impacts of the variables interested.
Pertaining to the previous research findings, the current study also brought evidence
to a significant positive impact of fair treatment on organizational commitment.
Consequently, this will help the organization to rethink of their justice perceptions on
their employees in a manner of increasing their commitment. In contrast to the
previous research findings, this study highlighted a negative impact of working
environment on organizational commitment. This study creates a novel contribution
to the existing theoretical gap as well as to the industry in order to gain and maintain a
committed workforce so as to achieve its goals and objectives.
Keywords: Fair Treatment; Organizational Commitment; Working Environment
56
Impact of Work-Family Life Balance on Employee Job Engagement

at Ceylon Knit Trend (Pvt.) Ltd
M. Fernando1 & J. K. S. C. Perera2

Department of Business Management, Faculty of Management Studies
chrisangika@gmail.com2
Well motivated and committed employees with high levels of job engagement are
considered to be the most important asset to any organization. But gaining full
employee engagement towards the organization is still challenging and remains as an
issue in literature as well as in practical context. This study was conducted with
married female machine operators in Ceylon Knit Trend (Pvt.) Ltd. Therefore, the
current study expects to find out whether the work-family life balance has an impact
on their job engagement. Results of the preliminary survey indicated that job
engagement of female machine operators was below the expected level. Sample size
for preliminary survey was 30. Under the conceptual model of the study, researchers
examined the direct effects of each work-family life balance dimension (work
demand, family demand, organizational work-family support, and family support) on
employee job engagement. Population size of the study was 160 married female
machine operators and sample size was 113 which was selected through stratified
random sampling method. Data were collected through a validated and reliable self-
administered questionnaire. Multiple regression analysis was used to analyze the
collected data. Confirming the previous findings the current study revealed that the
work-family life balance is an important phenomenon which has a significant impact
on job engagement. The study revealed that family demand, organizational work-
family support and family support have a significant impact on employee job
engagement. This study offers implications for developing strategies to obtain
employee engagement while balancing work and family life as implement employee
tailor- made work-life supportive policies and practices.
Keywords: Family Demand; Family Support; Job Engagement; Organizational Work-

Family Support; Work-family Life Balance
57
Impact of Personality Traits on Work-Life Balance: Empirical

Evidence from the Non-banking Finance Sector in Sri Lanka
J. A. R. Madhushan1 & T. C. Gamage2

Faculty of Graduate Studies, University of Colombo.1
Department of Marketing Management, Faculty of Management Studies,
ran.jayasinghe@gmail.com1 thilinicg84@gmail.com/thilinicg@mgt.sab.ac.lk2
Work-life balance is a situation in which employees are able to give the right amount
of time and efforts to their work as well as their personal life. Personality traits which
are defined by individuals behaviour, attitudes, beliefs, and appearance are found to
have an influence on the way they strike a proper balance between work and life
irrespective of the organizational setups and other factors. On this backdrop, this
study attempts to examine the impact of personality traits on work-life balance
specially focusing on working mothers in the non-banking finance sector in Sri
Lanka. Big five personality traits were used as the major theoretical backbone of this
study. Following the positivistic research paradigm and the deductive research
approach, survey research strategy was adopted. The target population of 200 working
mothers yielded an effective response rate of 74%. Multiple regression analysis was
used as the main inferential statistical analysis technique. The findings demonstrate
that openness to experience has the highest impact on work-life balance of working
mothers. Next to openness, extroversion and agreeableness too significantly influence
on work-life balance of working mothers. However, conscientiousness and
neuroticism do not have a significant role in influencing the work-life balance in the
given research setting. Moreover, the findings help management to mold their
understanding on the importance of the personality traits in improving the work-life
balance of working mothers in the non-banking finance sector in Sri Lanka.
Keywords: Non-banking Finance Sector; Personality traits; Work-Life Balance
58
A Study on Comparison of the Impact of Personality Traits on

Entrepreneurial Intention
C.R. Denis1, C. Ariyarathne2a, J. K.S.C. Perera2b , K. Paloneka2c, M. J. Zabarowskaa2d

& B. Czerniachowicz2e
Sabaragamuwa University of Sri Lanka.1,2a,2b
Faculty of Economics and Management, University of Szcezecin, Poland 2c,2e
Faculty of Law and Administration, University of Szcezecin, Poland 2d
charithrukshanbc@gmail.com1 , nigz2010@gmail.com 2a,chrisangika@gmail.com2b,
christopherpalonek@gmail.com 2c, moniaz123@wp.pl 2d, b.czerniachowicz@wneiz.pl 2e
Entrepreneurs are national assets to be cultivated, motivated, and remunerated to the

greatest possible extent. The literature highlights the importance of studying
personality on entrepreneurial intention. Therefore, the main objective of this study is
to compare the impact of personality traits on the entrepreneurial intention of the
undergraduates of Faculty of Management Studies of Sabaragamuwa University of Sri
Lanka and the Faculty of Economics & Management, University of Szczecin, Poland.
The preliminary study results indicated that Poland undergraduates have a high
intention to become entrepreneurs rather than Sri Lankan undergraduates. The
research is conducted based on Positivistic research paradigm with quantitative
research methodology. Further, deductive approach was applied and data were
collected through a validated and reliable questionnaire. The study sample was 109
undergraduates from each country under the simple random sampling technique and
the data were analyzed using two separate multiple regression analysis to test the
hypotheses using SPSS 21.0 software. Among the significant factors of both
countries, this study found that only neuroticism negatively impacts on
entrepreneurial intention in Sri Lankan undergraduates while extraversion and
openness to experience positively impact in Poland undergraduates. This research
finding will contribute to the academic institutions in scheduling their curricular to
develop the personality of undergraduates in order to enhance their entrepreneurial
intention.
Keywords: Entrepreneur; Entrepreneurial intention; Personality traits
59
Impact of Big Five Personality Traits on Employees Work-to-Family

Conflict in Ceylon Knit Trend Apparel (Pvt.) Ltd.
S. Jayasekara1 & L. D. Kalyani2

Department of Business Mangement, Faculty of Mangement Studies
kal@mgt.sab.ac.lk2
Work-to-family conflict (WFC) is a major problem experienced by the working

population. The increase of the number of dual earner couples also causes an increase
of the severity of the problem of work-to-family conflict. In this decade researchers
have recognized work-family conflict as a researchable area. There are two directions
in work-family conflict. These are work-to-family conflict and family-to-work
conflict. In this study, the researcher examined the impact of Big Five personality
traits on work-to-family conflict. Based on census study altogether 56 executive level
employees including all managers in CKT Apparel (Pvt.) Ltd., Agalawatta were
selected for the study. The response rate for the questionnaire was 94%. Data were
collected through two validated and reliable scales of work-to-family conflict and Big
Five personality. The researcher developed hypotheses based on Conservation of
Resources theory. Analytical techniques such as mean analysis, reliability analysis,
test of normality, KMO test, correlation and multiple regression analysis were used in
order to analyze the data. On the correlation analyses all Big Five traits significantly
correlated with work-to-family conflict. The result of the multiple regression analysis
concluded that openness to experience is the dimension of Big Five personality traits
which significantly impacts on work-to-family conflict. Findings of the study will
assist to modify the policies of the CKT Apparel (Pvt.) Limited and create a better
working environment for the executive level employees.
Keywords: Big Five Personality Traits; CKT Apparel (Pvt.) Ltd.; Work-to-family
conflict
60
The Impact of Personality Traits on Sales Performance:

Empirical Evidence from the Advertising Industry in Sri Lanka
K. N. S. Jayasekara1 & T. C. Gamage2

Department of Marketing Management, Faculty of Management Studies
niroshasandamali1@gmail.com1 , thilinicg84@gmail.com /thilinicg@mgt.sab.ac.lk2
Generating income and revenue are the primary roles of sales personnel. Whilst many
organizations have paid particular attention in training and development of the sales
personnel, they seem to have neglected the profound impact of the personality traits of
sales personnel in determining their success. This is clearly evident as given the same
sales tools, level of education, and propensity to work, some sales personnel succeed
where others fail. This paper therefore examines the impact of personality traits in
determining the sales performance of sales personnel in the advertising industry in Sri
Lanka. Big five personality traits were used as the major theoretical underpinning in
developing the conceptual framework. Using a simple random sampling, data
stemmed from a sample of 200 sales personnel was used to assess the proposed
conceptual framework. Multiple regression analysis was used as the main inferential
statistical analysis technique. As hypothesized, the findings demonstrate that openness
to experience is significantly related to sales performance. However, agreeableness,
conscientiousness, neuroticism, and extraversion are not significantly related to sales
performance in the given research setting. Moreover, the findings emphasize that
sales personnel with high openness to experience perform better in sales in the
advertising industry in Sri Lanka.
Keywords: Personality Traits; Sales Performance; Sales Personnel
61
Impact of Big Five Personality Traits on Employees's Normative

Commitment
S. Madhuwanthi1 & L. D. Kalyani2

kal@mgt.sab.ac.lk2
Today, business environment is rapidly changing day by day as well as, organizations
have to adapt according to the changing environment otherwise they find it difficult to
survive with the competition. Recruiting committed workforce is the most important
and also challenging task for each and every organization of the world. The current
research study focused to identify the impact of the big five personalities on
normative commitment of sewing machine operators in MAS Bodyline Pvt Ltd. The
quantitative and deductive approach was used for this study. To measure normative
commitment of sewing machine operators was used standard questionnaire developed
by Allen and Meyer and also personality was measured by using standard big five
personality model questionnaire developed by John and Sanjay. Sample consists with
sewing machine operators at MAS Bodyline, Horana. Sample was selected based on
convenience sample technique. 200 questionnaires were distributed based on
Morgans table even though 166 questionnaires were returned. Cronbachs Alpha and
KMO value ensured the reliability and validity of the questionnaire. The data were
analyzed through analytical tools such as mean, standard deviation, correlation and
regression analysis by using the Minitab and SPSS soft wares. The result concluded
that there is a significant positive impact of extraversion and agreeableness on
normative commitment and on the other hand, identified that there is a significant
negative impact of neuroticism and openness to experience. Finally, current study
found out that, there is not significant impact of conscientiousness on normative
commitment.
Keywords: Normative Commitment; Big Five Personality
62
How Personality of Employees Affect Occupational Stress?
G. G. M. S. Wickramapala1 & J. K. S. C. Perera2

msewwandika@gmail.com1, chrisangika@gmail.com2
Occupational Stress has emerged as an issue for many individuals all over the world.
According to literature the negative outcomes of the occupational stress hinder the
employee work performance and thus directly impact on the organizational
performance. Results of the preliminary study revealed that the executive employees
in Sri Lanka Tourist Board experienced high level of stress. Based on the current
literature the researchers focused on examining how one of the individual differences
of employee personality impacts on occupational stress. More specifically, the
researchers examined the direct effects of each Big-Five personality trait (Emotional
Stability, Openness to Experience, Conscientiousness, Extraversion, and
Agreeableness) dimension on occupational stress. This study was conducted based on
the quantitative research methodology. Population of this study was all the executives
who are currently attached to the Tourist Board and all of them were taken to conduct
this study, based on census method. Data were collected through a validated and
reliable self-administered questionnaire. Multiple regression analysis was used to
analyze the data. The findings of the study revealed that the lower level of
conscientiousness, extraversion, and agreeableness directly effect on the increasing
occupational Stress. This study provides implications for understanding employee
personality differences and tailor-made HR practices, to manage employees
occupational stress.
Keywords: Conscientiousness; Emotional Stability; Experience; Extraversion;

Occupational Stress; Openness to Agreeableness
63
Study of Employers Insights of the Employability Skills and Level of

Satisfaction of Sri Lankan ICT Undergraduates
S. Pathiratne1 & P.A.B.H. Amarathunga2

Faculty of Computing, ESOFT Metro Campus, Sri Lanka1
Faculty of Business Studies and Finance, Wayamba University, Sri Lanka.2
samitha8@yahoo.com1,buddhini@wyb.ac.lk2
The lack of cognizance and skills amongst graduates has been described as one of the
reasons why graduates struggle to find employment after the graduation. Whilst some
are good in their technical skills, most have been found destitute of in their soft skills.
There was major concern from the employers about the local graduates that albeit
they are verbally expressed to be well equipped with pertinent technical skills, they
still lack paramount soft skills like communication, language, critical and ingenious
skills, leadership, etc. Several researchers in edification have discussed the
ineffectiveness of the current inculcated system in equipping the graduates with
germane employability skills as required by their potential employers. No one has
touched the Sri Lankan ICT Education sector. Major Objectives of this study are to
explore the employers insights of the employability skills that technical
Undergraduates need to encompass, as well as evaluating the employers level of
gratification with the ICT Undergraduates employability skills. Population of the
study comprises of employers that accepted the Universitys Undergraduates for six
months of industrial training in their organizations. The study originate that the
uppermost five skills extremely regarded by the employers are a accumulation of
three soft skills and two hard skills. Ranked most paramount is the competency to
undertake quandary identification, apply quandary-solving, formulation and solutions
as the most consequential skills that employers needed in engineering and ICT
Undergraduates. In terms of the caliber of contentment, the employers denoted that
they are generally gratified with the university Undergraduates level of employability
skills. The adeptness that they are most gratified with is the competency to perpetuate
learning independently in the acquisition of incipient cognizance, skills and
technologies. This study offers three implications to take strategic steps for
64
universities. First, equal attention should be prearranged to both technical and soft
skills. Second, there is an exigent desideratum for universities to quantify perpetually
employers level of contentment with regard to the excellence of graduates that
universities are conferring. Third, universities must ascertain that they have
continuous assignation with the industry in directing them to be able to perceive
transmutations in industry expeditiously.
Keywords: Employability; Employers; ICT; Soft Skills; Undergraduates
65
Factors Affecting the Failure to Achieve Expected Sewing Efficiency

Level in Sri Lankan Garment Industry: with Special Reference to
Brandix Apparel Solutions in Wathupitiwala, Sri Lanka
N.A.P. Pubudika1 & M. P. Kovilage2

Department of Tourism Management, Faculty of Management Studies, Sabaragamuwa
University of Sri Lanka, P.O.Box.02, Belihuloya, 70140, Sri Lanka.
piumenissanka19@gmail.com1, kmpmanori@gmail.com2
Sewing efficiency has become the key determinant of the success in the apparel
industry in Sri Lanka. This research was built up in a circumstance where this
company was running below the targeted sewing efficiency level continuously. The
main objective of the study was to explore the factors affecting the poor sewing
efficiency of machine operators in Brandix Apparel Solutions in Wathupitiwala. The
study followed the quantitative research approach. Here, the researcher selected six
factors that affect sewing efficiency such as: working environment, supervision,
machine operators job satisfaction, skills level, level of education and the sewing
related experience through the past studies, to test their relationship and effect on
sewing efficiency of machine operators in this company. A standardized and validated
questionnaire was distributed among 104 machine operators in the company for the
primary data collection. These 104 machine operators out of the population of 230
machine operators were randomly selected. The validity and reliability of the
questionnaire were tested using Cronbachs alpha and KMO value. Descriptive
statistics, correlation and multiple regression analysis were employed as the data
analysis techniques. Finally, the study concluded that the working environment,
supervision, job satisfaction and skills level positively affected the sewing efficiency
of machine operators in Brandix Apparel Solution in Wathupitiwala and also it
concluded that machine operators education level and experience has a positive
relationship with their sewing efficiency.
Keywords: Education; Job satisfaction; Supervision; Skill; Sewing Efficiency; Work

Environment
66
A Factor Analysis of Temperament, Character, Emotional

Intelligence, and Need for Achievement of Sri Lankan MBA Students
P.A.B.H. Amarathunga1 & S. Pathiratne2

Faculty of Business Studies and Finance, Wayamba University, Sri Lanka.1
Faculty of Computing, ESOFT Metro Campus, Sri Lanka.2
samitha8@yahoo.com1, buddhini@wyb.ac.lk2
Emotional Intelligence has recently gained utmost consequentiality and is being

applied in all the fields and has earned an edge over IQ in the last decade as well as
that is applicable to every human interaction in business: from staff motivation to
customer accommodation, from brainstorming to company presentations. The main
objective of this study is to find out the common factors that account for the
relationship between Emotional Intelligence, Need for Achievement, Temperament,
and Character. A sample of 69 MBA students was randomly selected from the
management faculty in a government university. Three different research instruments
were used to measure the variables. The analysis was done by using SPSS in two
steps, Computation of Inter-correlations among the variables and Factor analysis of
the sub dimensions of all the four variables. Three different research instruments were
acclimated to quantify the variables. The analysis was done by SPSS in two phases,
Calculation of Inter-correlations among the variables and Factor analysis of the sub
dimensions of all the four variables. The findings of the present study show that a
person/ groups of persons exhibit different patterns of personality traits and it is
evident that for bipolar dimension has been found in the present study. It was revealed
that emotional intelligence significantly highly correlated with the need for
achievement. This study emphasizes the holistic approach to personality development
among students. Self-Directedness is paramount to make the students able in self-
direction, as goal orientation is a component of Self Directedness. Educationists must
deal with the character in its psychological aspects for a fuller development of the
personality.
Keywords: Character, Emotional Intelligence; Factor Analysis; Need for

Achievement; Temperament
67
A Study on Relationship between Psychological Contract and the

Employment Relationship
S. H. A. K. Nandasiri1, D. C. Wijesekara2a, P. Sivashankar2b & I. C. Hettiarachchi2c

Department of Agribusiness, Faculty of Agricultural Science
shankar@sab.ac.lk2b,
Research on psychological contracts is increasingly focusing on the mutual

relationship between the employee and the employer. This study examined the
relationship between the psychological contract and the employment relationship. The
objectives of this study were, finding the relationship between different types of
psychological contracts and employee outcomes of commitment, organizational
citizenship behaviour and turnover intention. The employee and employer obligations
and their relationships with commitment, organizational citizenship behaviour and
turnover intentions were also measured. The study also investigates the types of
psychological contract breaches that can be seen in the organization. This research
followed the survey strategy and the research approach is deductive. The research
type is descriptive and data were collected from 120 employees in a ship repair and
offshore engineering firm in Colombo, through interviewer administered
questionnaires which were modified after pilot testing from 10 subjects. Stratified
random sampling technique was used for sampling from a population of 2000
employees. Correlation and descriptive analysis were performed to analyze the data
and find the relationships. The results of the research revealed that there is a positive
correlation between the relational contract, balanced contracts, employer and
employee obligations with commitment and organizational citizenship behaviour.
Negative correlation can be found between relational contracts, balanced contract,
employee and employer obligations with employee turnover intention. Transactional
contracts and transitional contracts have negative correlations between commitment
and organizational citizenship behaviour while positive correlation can be found with
turnover intention. Psychological contract breaches were measured and it is revealed
that relational contract type was breached in the areas of employee participation in the
68
decision making and receiving of the performance appraisal. Transactional, balanced

and transitional contracts do not have strong psychological contract breaches.
Keywords: Employee Commitment; Organizational Citizenship Behaviour;

Psychological Contract; Turnover Intention
69
Human Capital Development:

Comparative Analysis of South Asian Countries
K. K. N. P. Rathnayake1 & C. Zhixia2

College of Public Administration, Huazhong University of Science and Technology, Wuhan,
Hubei, P.R. China.
nishanipr@yahoo.com
Human resource development research suggests that investment in people results in

improved performance on the individual level, improved productivity on the
organizational level, and economic development and other benefits on the societal
level. Nevertheless, comparative research on Human Capital (HC) development is still
limited and comparisons among multiple countries are difficult to find. The purpose
of this paper is to conduct macro-level analysis of HC development strategies,
followed by four emerging countries in South Asia (India, Pakistan, Sri Lanka and
Bangladesh). This analysis is based on comparisons of macro indices of HC and
innovativeness of the economy and a review of related academic literature and
publications of governments and international organizations. Study results suggest
that in terms of present human capital capacity India and Sri Lanka are ahead of
Bangladesh and Pakistan. However, during the last decade the governments of
Bangladesh and Pakistan have initiated impressive national programs of HC
development, which include significant investment in all stages of education and
vocational training, especially in science and technology fields. Though Sri Lanka is
well-ahead of many human capital indices, it lacks comprehensive long-term
strategies to maintain the momentum. While being the highest populous country, the
Indian government plays a progressive and sustainable role in all the areas of human
development and coordinating effort of various agencies and constituencies. Study
provides not only specific insights on the current and future state of HC in South
Asian countries, but also a practical framework for analyzing HC policies in any other
developing country of the world.
Keywords: Bangladesh; Human Capital; Human Resource Development; India;

Pakistan; Sri Lanka
70
Impact of Work-Life Balance on Employee Work Performance in the

Hotel Industry of Sri Lanka
D. S. De Seram1 & W. K. A. C. Gnanapala2

No 482, Welivita Road, Kaduwela1
athulatmsusl@gmail.com2
With ever changing business world, achieving higher level of work performance
through managing employees work-life balance is still challenging and remains as an
issue in literature as well as practically in organizations. Unlike in most of other
industries, the situation of the hospitality industry is more critical and the work life
balance issue has become an inherent characteristic of the industry. According to
Deery (as cited in Monathy, 2014), work-life balance is heavily impact on employees
performance and since the work-life balance issue is an inherent characteristic of hotel
industry, their work performances are mostly at lower levels. Therefore, the study
focuses on the work-life balance of the hotel industry employees and its impact on
employee performance. The study is based on three main dimension of the work life
balance i.e. Job Content, Personal Factors and Family factors. The study was carried
out at the John keels (Cinnamon) Hotel chain in Sri Lanka using 187 executive level
employees. Data were collected through a standard and validated questionnaire survey
and face to face discussions with family members of the selected employees. Data
which collected through questionnaire survey were analyzed by using multiple linear
regressions and content analysis was employed to summarize the data which collected
through discussion. The result revealed that there is high positive relationship between
all three dimensions and employee performance. The factors related job content,
personal and family are positively contributed for the employee performance. The
hotel industry can further improve the employee performance through creating a
conductive work environment which allows the employee to have a work-life balance.
Confirming the previous findings the current study reveals that the work-life balance
positive impacts on work performance. This study will contribute to hotel industry to
71
improve the work- life balance of the employees in order to improve the employee
work performance.
Keywords: Employee performance; Family Factors; Job Content; Personal Factors ;

Work-Life Balance
72
The Impact of Individual Values on Employee Commitment with

special reference to City Cycle Industries (Pvt.) Limited, Panadura
F. Hasniya1 & J. K. S. C. Perera2

chrisangika@gmail.com2
In this competitive business world, committed employees are essential to achieve the
organizational success. However, retaining a commitment employee is still
challenging for many organizations all over the world. Existing literature highlights
the importance of studying individuals values on employee commitment. Therefore,
the purpose of this study was to examine the impact of each dimension of individual
values which are, value of openness to change, value of conservation, value of self-
transcendence, and value of self-enhancement on employee commitment in City
Cycle Industries (Pvt.) Limited, Panadura. Conceptual model was developed by using
Person-Organization-Fit Theory. The study was conducted based on positivistic
research paradigm and quantitative research methodology. Self-administered
questionnaire was distributed among 80 employees at City Cycle Industries (Pvt.)
Limited as a census study. Hypotheses of the study were tested by using a multiple
regression analysis. The results revealed that the value of openness to change
negatively impacts on employee commitment. Further, it was found that the value of
conservation and the value of self-transcendence positively impact on employee
commitment. This study has proven that the individual values can lead to increase the
employee commitment.
Key words: Individual Values; Employee Commitment; Person-Organisation-Fit

Theory
73
Study on the Impact of Change Message Components on Employee

Readiness to Change
S. Senasinghe1 & L. D. Kalyani2
Department of Business Management,Faculty of Mangement Studies
kal@mgt.sab.ac.lk2
Organizational changes play a significant role in todays competitive and dynamic

business environment. Many change efforts pass off without gaining the intended
outcomes due to lack of employee readiness. Having suitable changes to compete
with the world is essential and employee readiness is the key to the success of those
changes. The current study was investigated the impact of five dimensions of change
message components on employee readiness to change to implement the Team Leader
Based Organization (TLBO) at Loadstar (Pvt) Ltd. Change message components have
five dimensions namely discrepancy, change efficacy, appropriateness, principal
support and personal valence. The sample size of the study was 110 employees and
the census method was followed. Data were collected through standard questionnaires
developed by the previous researchers. Employee readiness to change, acted as the
dependent variable and the dimensions of the change message components acted as
the independent variables. The result concluded that the significant positive impact of
three out of five dimensions of change message components, such as principal
support, personal valence and change efficacy on employee readiness to change.
Discrepancy and appropriateness were not significant in this study. It is better for the
managers to pay attention on readiness of employees by using those change message
components to fit them in prior to the change initiatives. Then the change can become
permanent.
Keywords: Change Message Components; Readiness to Change; Key Sentiment

Factors
74
Changing Role of HR and its Business Relevance
A. Khan1 & S. Karunagoda2

Mouchel Middle East, United Arab Emirates1
Department of Transportation, United Arab Emirates2
asadullah.khan@mouchel.com1
The purpose of this paper is to investigate the role of the human resources (HR)
department in connecting organizations to the business. Traditionally, the finance
department in the organizations has is related to the money matters, whereas the HR
department is not related to the money matters, even in case of giving of the training
to the employees and subsequent organizational growth. This paper attempts to
establish the link between the HR and finance (money matters). Finally, it has been
observed that the role of HR has been limited to that of the administrative rather than
the development of employees. The study is based on the qualitative research
approach adopting direct/participant observation method when the researchers were
part of their respective organizations. Semi- structured interviews were also
conducted from the HR and the employees for in depth understanding of the HR
processes and subsequently the role played by the HR and its impact on the
performance of the employees. The data collection was carried out when the
researchers were part of their respective organizations, where the role of a participant
observer was involved. This is limited to the organizations and the HR interaction.
However, the data collection through semi-structured interviews helped increase the
depth of the data collection. The role of the HR in developing the employees has an
impact on the employee satisfaction and motivation which results into increased
organizational performance. The employees within such organizations achieve their
career targets within the organizations. This was possible through research framework
of TALENT, TRAINING and TASKS. At the heart of this framework is value
fit/cultural fit.
Keywords: Human Resources; Employee; Employee Development; Organizational

Development
75
The Impact of Glass Ceiling Factors on Women Career Development
K. Alwis1 & A.M. J. Attanayake2
Department of Business Mangement, Faculty of Management Studies

jayalath@sab.ac.lk2
Concerns of gender equality are discussed in 1978 constitution of Sri Lanka and in
other national policies. Anyhow as per the labour force surveys females are not in
higher rank positions in Sri Lanka even though their contribution for the labour force
increases rapidly and this scenario is more severe in the garment sector. According to
this problem, the researcher investigated the impact of glass ceiling factors such as
individual factors, training and development, work family conflict, organizational
factors and cultural factors on women career development at leading apparel
manufacturer, in Sri Lanka based on the conceptual frame work developed using the
literature of current study. Simple random sampling method has been used to select 63
female executive and self-administrative questionnaire distributed to collect the data.
Hypotheses are developed to find out whether there is a significant impact of glass
ceiling factors on Women career development and tested by using multiple regression
analysis. Findings of the study identified that all the selected glass ceiling factors
except organizational cultural factors have significant negative impact on women
career development. Moreover, it revealed that work family conflict is the highest
impacted factor. Hence management of the company should be much concern on
balancing work family conflicts and practice the discrimination policy effectively.
The findings of this study mostly helpful in making management decisions to reduce
the invisible barriers of women career development and this makes a novel
contribution to the garment industry by being among the first to examine of that
industry in Sri Lanka.
Keywords: Female Executives; Glass Ceiling Factors; Women Career Development
76
Impact of Organizational Downsizing on Manpower Retention: A

Case Study on the Eden Resort and Spa, Beruwala
A. Nanayakkara1 & M. S. M. Aslam2

aslam@sab.ac.lk2
Enhancing the profitability in the organization has led to implement different

strategies to minimize the cost and improve the productivity. Organizational
downsizing is a prevalent strategy to enhance cost efficiency and operational
effectiveness. However, implementing organizational downsizing has negative
impacts on employee motivation, satisfaction and retention. The Eden Resort & Spa,
Beruwala is of the five-star hotels in Sri Lanka which has implemented organizational
downsizing and heading to challenges in the retention of employees. This study
investigates the impacts of organizational downsizing strategy on the employee
retention at the Eden Resort and Spa and adopted the qualitative case study approach
to elucidate the multiple realities as result of implementing the organizational
downsizing strategy. This investigation incorporated with participative observation
and personal interviews with top level, middle level and operational level employees
to bring forth the naturalistic interpretation of the employees at Eden Resort & Spa.
The collected data were analyzed using descriptive analysis along with data
triangulation. The results reveal that the strategy of organizational downsizing is one
of the better solutions to reduce the cost in the organization; however, the
organizational downsizing has a significant negative effect to the employee
satisfaction, employee motivation and employee retention in the organization.
Findings of this study provide a novel contribution to The Eden Resort and Spa,
Beruwala who want to retain and encourage their employees to work in the
organization and the hoteliers to manage human resources effectively in their
organizations.
Keywords: Employee Satisfaction; Manpower Retention; Organizational Downsizing
77
Impact of Job Satisfaction on Job Performance of Administrative

Staff of State Universities in Sri Lanka
M.L. Warnasuriya1 & L. D. Kalyani2

Senior Assistant Registrar, Sabaragamuwa University of Sri Lanka,Belihuloya.1
Faculty of Management Studies, Sabaragamuwa University of Sri Lanka, Belihuloya.2
lalithw@adm.sab.ac.lk1, kal@mgt.sab.ac.lk2
The research problem addressed in this study was to investigate the extent to which
job satisfaction affect job performance of the administrative staff in state universities
in Sri Lanka. The administrative staff of state universities in Sri Lanka was considered
as the population for this study. Sample size was limited to 125 administrative officers
which were selected from the state universities. Kaiser- Meyer-Olkin measure of
sampling adequacy and Bartletts test was used to measure the validity of the sample
size. Chronbachs Alpha value was used to measure the reliability of the variables.
Primary data was collected through administering a questionnaire. Univariate, Bi-
variates techniques, Multivariate Regression, Hypothesis Testing and Factor Analysis
were used to analyze the data. All the dimensions of job satisfaction except
remuneration, yielded a higher mean than the average. Positive correlations are
existing between the dependent variable; job performance, and the independent
variable; job satisfaction (r = 0.471, P =0. 000). Further Positive correlations are
existing between the dependent variable; job performance, and all the other
dimensions of the job satisfaction except remuneration. The results correlation
analysis revealed that all the dimensions of job satisfaction can positively contribute
towards job performance except remuneration. Therefore, a considerable attention
should be paid to improve the dimensions of job satisfaction such as work itself,
working conditions, social factors and supervision to improve the job performance of
the administrative staff within the state universities for long-term success of the
higher education sector in Sri Lanka.
Keywords: Job Performance; Job Satisfaction
78
Management Information System for Effective Decision Making on

Total Cost of Quality
K. A. P. Mekhala1, H. C. Munasinghe2a, A. N. Abeygunawardena2b, V. Puwana2c,

R. K. D. Darshana2d & K. U. S. Somarathna2e
Department of Textile & Clothing Technology,University of Moratuwa
mekhala1989@gmail.com1
Manufacturing organizations are continuously affected by chronic waste and hidden

quality costs resulting in increased Total Cost of Quality and reduced Profitability.
However the existing systems only focus on sporadic waste and visible quality costs
and fail to capture the real picture of total cost of quality. Therefore severities of
issues are often unidentified by organizations and no preventive actions are triggered
for continuous improvement. This research focuses on developing a reliable Quality
Costing System for knitted fabric manufacturing organizations in which all
dimensions of prevention, appraisal, internal and external failure costs are
encompassed and enables the achievement of organizations quality objectives and
long term success through proper identification, monitoring, analysis, and reporting of
quality costs and thereby facilitate management decision making to manage Total
Cost of Quality. The comprehensive literature survey depicts the nature of chronic
and sporadic waste, distinguishes between visible and hidden costs, categorization of
cost elements, analysis of quality costs, real impact of quality costs on organizational
performance and the strategy for managing total cost of quality. Initially a detailed
process study was conducted to identify all the cost elements, categorize their impact
and to define the method of quantifying such cost elements. Collected quality cost
data was analyzed and the impact of cost of quality on organizational performance
was identified. Finally a Microsoft excel based system was developed to produce
useful management information which includes cost distributions, trend analysis of
cost categories and key cost elements, highest cost elements and monthly cost of
quality report.
Keywords: Total Cost of Quality; Chronic Waste; Hidden Costs; Quality Costing
System
79
Eco Business Management
80
Analysis of Dynamic Trends of Rainfall Extremes in Sri Lanka Using

Frequency Indicators
S. S. Sanjeewani1 & L. Manawadu2
Department of transports & Logistics management, University of Moratuwa1
Department of Geography, University of Colombo2
ranabahu.sss@gmail.com1, lasangeo@gmail.com2
Occurrence of rainfall extremes is becoming more frequent in the world incurring a

number of issues for livings and non-livings in Sri Lankan context too. It is timely
important to identify the trends of frequent rainfall extremes so as to implement better
adaptation practices. This study identifies dynamic trends of rainfall extremes from
1981 to 2010 using frequency indicators (Consecutive Wet Days (CWD), Consecutive
Dry Days(CDD) , Heavy Rainfall Days (R10mm) and Very Heavy Rainfall Days
(R10mm) promoted by the World Meteorological Organization. Daily rainfall data are
used to run RClimDex 1.0 to identify the extremes. The extremes are mapped and
Non parametric Mann Kendall test is used to detect the trends and their significance.
Additionally, this study considers the impact of Southern Oscillation on occurrence of
above extremes as one of the causal factors. All the stations show a decreasing trend
of CDD where Puttalam, Hambanthota, NuwaraEliya, Rathnapura display significant
decreasing trends. Mean CDD in Sri Lanka is 38 days. Lower annual averages of
CDD are apparent in 1985, 1991, 2003 and 1981 which are highly coincided with
southern oscillation index. Average CWD is 11 days while it ranges from 4 to 37
days. Galle, Katunayaka, Anuradhapura show significant increasing trends in CWD
while trends of NuwaraEliya and Rathnapura are significantly decreasing. An average
of 53 R10mm are visible whereas Rathnapura records an average of 103 days.
Frequencies of R10mm showing an increasing trend in all stations excluding
NuwaraEliya where trends are statistically significant in Galle, Kandy, Rathmalana
and Trincomalee. An average of 30 R20mm records in the country. Ratnapura is
highly vulnerable for R20mm that normally 64 days of very heavy rainfall is visible.
But it ranges from 51 to 81 days. Colombo, Rathmalana, Hambanthota, Rathnapura,
Badulla, Baticaloa depict significant increasing trends in R20mm. Accordingly most
of the extremes are concentrated in to south eastern quarter of the country and
81
effective adaptation practices should be initiated to cope with the changing trends of
climate.
Keywords: Frequency indicators; Non- parametric Mann Kendall trend test;

RClimDex; Southern Oscillation; spatial & temporal trends
82
Industry 4.0 in the Apparel-Manufacturing Sector: Opportunities for

Sri Lanka
H. Jayatilake1 & A. Widanaraachchi2

Deaprtment of Industrial Management, Faculty of Science, University of Kelaniya.
hasitha.nc@gmail.com1
The world is now in the era of the fourth industrial revolution which can be identified
as the latest mechanism of automation and data exchange in manufacturing. The
concept of fourth industrial revolution has originated from the countries like Germany
as Industry 4.0 as a government initiative and the USA as Industrial Internet
Consortium which has emerged from leading multinational organizations. When
considering the concept of the industry 4.0, as a country, the major question that
would arise could be, whether Sri Lanka has the capability to adopt the concept. Even
though this concept originated from the high-end technological industrial world, Sri
Lanka should consider of adopting this as the world is heading to a technological
standardization process with the smart factory concept, which is the backbone of the
fourth industrial revolution. Currently, the Sri Lankan apparel industry is in a
milestone of adopting the best manufacturing practices, lean and sustainability
concepts. In order to attain the research objective of identifying the opportunities in
the Sri Lankan apparel sector to implement Industry 4.0, a qualitative approach has
been adopted in this study. Industry experts representing Information and
Communication Technology sector and the apparel sector, scholars in the field of
industrial engineering and IT, were interviewed using structured and unstructured
questionnaires. The outcome of this study indicates that by introducing Industry 4.0,
Sri Lankan apparel sector would gain a number of advantages. Such technological
advancement in this sector will enhance the vertical integration of all the layers in the
apparel-manufacturing sector and also will enhance the horizontal integration of all
the partners in its value chain.
Keywords: Industry 4.0; Smart Factory; Sri Lankan Apparel Industry; Sustainable
Manufacturing
83
Critical Analysis of Arbitration Method Used in the Construction

M. Nihaj1 & N. G. Gunawardena2
Disagreement among contracting parties has a rich tradition in the construction

industry, which induces of creating and experimenting with alternatives to litigation.
Alternative Dispute Resolution (ADR) methods such as adjudication, mediation,
negotiation and arbitration, in the construction industry have gained numerous
positive impacts during the recent years in Sri Lanka. Arbitration is seen as the final
mode of Alternative Dispute Resolution. Construction disputes become more
technical intensive, multifaceted and multinationally interested than the other
commercial disputes; construction disputes need the enforceable and flexible
Alternative Dispute Resolution (ADR) such as Arbitration to resolve disputes
efficiently. The Arbitration Act of Sri Lanka No. 11 of 1995 provides a legislative
framework for the effective conduct of arbitrations procedure. However, the use of
the Arbitration in the private and public sectors has not been efficiently apparent,
probably due to several practical constraints. This study is the first endeavor to
critically thr assess effectiveness and the problems of arbitration after two decades
enacting the Arbitration Law no 11, 1995. The objectives of the study were to
examine the dispute resolution techniques specially arbitration used in the Sri Lankan
contracting practices, to assess the effectiveness of the Arbitration Law no 11 of 1995
and its application by measuring the performance evaluation of Critical Success
Factors (CSF) of the arbitration in the construction industry, to identify the practical
constrain, customs and their severity by which the effectiveness of arbitration is
being aggravated and to identify remedial measures through the discussion with
leading key players by identifying very accurate problem of the above quantifying
study. These were examined by undertaking a literature review of the Sri Lankan and
international construction industry with a structured questionnaire and private
interviews with leading big players in the industry. This papers findings were
quantity study of collecting the professional perception of the arbitration found in the
Sri Lankan contracting practices, its adequacy, competence and practical effectiveness
84
to cope with a number of complex disputes and claims that may occur due to the
increased growth in construction which was unprecedented due to the end of the civil
war. The results of the study indicated to what extent Arbitration practices in Sri
Lanka practically fulfilled the critical success attributes of the Arbitration. Causative
of the ineffectiveness and Severity of the practical constrains also were identified,
evaluated and ranked. Remedial measures also were collected from leading
professional, in improving arbitration methods which were the major output of this
study.Speed, cost, creative remedies and flexibility were the successful attributes of
arbitration that were found as were being mostly violated in practical means.
Keywords: Alternative Dispute Resolution (ADR); Arbitration; Critical attributes;

Construction Industry; Critical Success Factors (CSF)
85
Exploring the Consumer Surplus and Demand for a Novel Visitor

Experience at Kanneliya Forest Reserve in Sri Lanka
N. W. V. A. Shiromi1 & R. M. W. Rathnayake2

warath1@gmail.com2
Kanneliya Nakiyadeniya and Dadiyagala are famous lowland rain forests in Sri Lanka
and it is called the KDN complex. Along with the new conservation initiative,
Kanneliya Forest Reserve (KFR) seems to have got a reasonable regeneration and a
rich bio diversity. 2014, KFR received 27295 visitors. The purpose of this study is to
investigate the methods for assessing the value, people and the place on preserving
our natural environments and resources. Zonal Travel Cost Method and Contingent
Valuation Method were applied in estimating the consumer surplus of the existing
recreational activities, and the willingness to pay for a novel visitor experience
respectively. A questionnaire survey was conducted to collect the required data for the
study. The sample size was 319 and systematic random sampling method was applied
in interviewing the visitors. The total recreational value of the local visitors in 2014
was Rs. 13.95 million, and the estimated optimum entrance fee was Rs. 610.50 per
person. The total revenue at this entrance fee will be Rs. 8.67 million and it will be a
1034.13% increase of revenue. Further, the medium (Rs.50000.00 Rs.100000.00)
and higher (above Rs.100000.00) household income of visitors, higher educational
level (up to diploma, up to post graduate professional) of visitors and long distance
(51 km 150 km) of visitors were highly significant factors for accepting the higher
entrance fees to the KFR. The main conclusion of this study is that at present the
natural resources has been undervalued and the findings emphasize on taking a policy
decision for the increase of the entrance fee of KFR. There is a demand for new
visitor services to be established at KFR, and therefore if the proposed visitor services
are established, easily the entrance fee to KFR can be increased.
Keywords: Kanneliya Forest Reserve; Contingent Valuation Method;Travel Cost

Method; Willingness to Pay; Conservation.
86
Value Chain Analysis of Cinnamon in Galle District in Sri Lanka
A. A. C. Krishani1 & S. H. P. Malkanthi2

Department of Agribusiness, Faculty of Agricultural Sciences
malkanthi09@gmail.com1
Although Sri Lanka is the main supplier of cinnamon in the world market, we receive
low level of returns due to poor level of value addition. Thus, the aim of this research
was to analyse the value addition activities of the main actors of cinnamon value
chain in Galle district. The three main actors of cinnamon value chain; cultivators,
middlemen and consumers were selected as the target groups. Therefore three samples
as 50 cinnamon cultivators, 50 middlemen (collectors, retailers, wholesalers,
processors, and exporters) and 50 consumers were used for this study. Data collection
was done using three surveys from January to April 2016. Descriptive data analysis
and Ranked Based Quotient were used in data analysis. Findings highlighted that,
other than production of raw cinnamon, most of the cinnamon cultivators have not
significantly contributed on value addition of cinnamon due to number of issues and
challenges. However, when considering the income from cinnamon, a significant
amount of cinnamon cultivators (12%) was highly satisfied about their income from
cinnamon where majority (56%) was satisfied. Moreover, considering the middlemen,
only the exports have done a considerable level of value addition. But, cultivators and
the middlemen have positive attitudes towards value addition practices. In focusing
consumers, while cinnamon quill was the first preference of them, cinnamon based
products, cinnamon flour, and cinnamon oil have been taken second, third and fourth
places respectively.Therefore, motivation of cultivators and middlemen towards value
addition practices of cinnamon can be recommended as it will help to get better
returns for them.
Keywords: Cinnamon; Cinnamon Cultivators; Consumers; Middlemen; Value Chain
87
Developing Carbon Footprint Based Environmental Performance

Indices for Garment Manufacturing Industries in Sri Lanka: A Case
Study at Body Line (Pvt) Ltd, Balangoda
D. M. M. Chandanamali1 & W. M. P. S. B. Wahala2

Department of Tourism Management, Faculty of management Studies
sampathwahala@yahoo.co.uk2
Among the most of environmental consequences, climate change is known as one of

the major environmental consequence which cause to many adverse impacts .To
overcome with this issue most of environmental bodies are encouraging business
organizations and consumers to be carbon conscious. . The objective of this study was
to develop Carbon Footprint Based Environmental Performance Indices (KPI) in a
garment manufacturing industry. This study was conducted in Body Line (Pvt) Ltd
which is located in Balangoda. In this study direct and indirect GHG emission sources
were identified in all the operations in the organization. Activity data was collected
covering 12 months period in 2015 2016 which are relevant to all emission sources
and converted in to the GHG emission by referring published GHG emission
conversion factors. According to the study, total carbon footprint is 1451tCO2e for a
one year period of operations. Highest amount of GHG emission was emitted from
indirect GHG emission sources which were accounted as 113tCO2e.and the least
amount of GHG emission was emitted from direct GHG emission sources which were
accounted as 38t CO2e.Considering the key performance indices(KPI), Derived KPI
for per meal was 0.086kgCO2e. KPI related to purchased electricity usage, it was
estimated as 0.63kgCO2e per standard work hour and 0.108kgCO2e per production
unit.
Keywords: Carbon Footprint; GHG Emission; KPI; Garment Industry
88
An Assessment of Green House Gas (GHG) Saving Potential of

Transport Related Operations: A Case Study at
Brandix Lingerie (Pvt) Ltd, Wathupitiwala
3 L. D. P. Liyanage1, W. M. P. S. B. Wahala2a & R. Wellagiriya2b
Department of Tourism Management, Faculty of management Studies
Sabaragamuwa University of Sri Lanka.1, 2a
Engineering Department, Brandix lingerie (Pvt) Ltd, Wathupitiwala2b
sampathwahala@yahoo.co.uk2a
The global warming caused by the Green House Gas (GHG) is a hot topic in recent
year in the world. Transportation activities generate GHG and contribute to the global
warming. This assessment was conducted to calculate the total GHG accumulation
from transport related operations at Brandix Lingerie (Pvt) Ltd, Wathupitiwala for the
year of 2015. The employee transport network was mapped using Google earth
program to estimate passenger kilometers between each get in and get-down
locations. Upstream and downstream goods transportation was mapped to estimate
ton kilometers of goods transportation using existing transport management data.
Transport related GHG emission was calculated using internationally recognized fuel
based emission factors and tone kilometer based emission factors where applicable.
The findings indicate that the amount of organizational GHG emission of
transportation was 609.04 tons CO2e per year. Worker transportation has contributed
47.26% to total GHG emission and it was 287.85 tons CO2e. Business purposes
transportation covered 14.96% and it was about 91.12 tons of GHG emission. The
upstream transportation (external vehicles that come to stores) contributes 178.37 tons
of CO2e emissions and it was estimated as 29.29% from total GHG emission in 2015.
The downstream transportation (shipments) contributes the 51.7 tons CO2e and it is
estimated as 8.49% from total. Per product GHG emission from worker transportation
was 0.0129 KgCO2e, business purposes transportation was 0.0041 kgCO2e. The
upstream transportation Key Performance Index (KPI) was estimated as 0.0080
KgCO2e and per product GHG emission of downstream transportation was estimated
as 0.0023 KgCO2e for the year 2015.Estimated GHG saving potential with improved
Transport Demand Management system (TDM) is 89.71 tons CO2e.
Keywords: GHG Emission; Upstream and Downstream Transportation; KPI
89
Exploring Green House Gas Saving Potential of Transport Plan

Optimization in Fabric Manufacturing Industry: A Case Study at
Textured Jersey Lanka Plc, Avissawella
I. C. Usgalhewa1, W. M. P. S. B. Wahala2a & R. Gunawardene2b

Sabaragamuwa University of Sri Lanka.1.2a
Envirinmental And Sustanability Division Textured Jersey Lanka PLC, Avissawella2b
The global warming caused by the Green House Gas (GHG) is a hot topic in recent
year in the world. The transportation is considered as one of the major GHG emitting
operations in a company and also these operations incur more cost to the company.
However organizations are not much aware and consider about the GHG but the cost.
Whoever with the growing trends in climate consciousness among people or the
consumers, therefore apparel industries are moving towards in that direction which is
become a climate conscious company. The main objective of this study is to assess
the transport related GHG emission and saving potential in relation to transport
optimization at Textured Jersey PLC .GHG protocol Part 3 and ISO 14064 Part 1
were used to conduct the assessment. There were five emission sources were
identified as employee commuting, upstream transportation, downstream
transportation, business travels, and waste item transportation. All the data related to
those five emission sources were gathered by relevant data sources mainly from
running sheets, air way bills, sea freight bills, foreign travel requesting sheets and
check sheets. The collected activity data were converted to the CO2e using relevant
emission factors. The results indicate that the total transport related carbon foot print
as 1878.25 tons CO2e per year. The employee commuting contributes 357.77tons
CO2e per year emissions and it is accounted as 19% from total transportation
emission of the company. The upstream transportation represents 1081.38 CO2e tons
emission and it is accounted as 58% from total transportation emission of the
company. The downstream transportation represents 383.85tons CO2e.of carbon
emission and it is accounted as 20% from total transportation emission of the
company. The Business travel represents 54.62 tons of CO2e.emission and it is
90
accounted as 3% from total transportation emission of the company. The waste

transportation represents 0.628 tons of CO2e Total saving of 518 tons of CO2e were
estimated based on the options identified to make efficient vehicle capacity
management and transport demand management in the organization. Also GHG
emission related Key Performance Indices (KPIs) were developed and estimated
reduction targets were set for further monitoring purposes.
Keywords; Transportation Carbon Foot Print; Key Performance Index
91
Water Consumption and Potential Savings in Fabric Dyeing Process:

A Case Study in Textured Jersey Lanka PLC, Avissawella
P. G. S. H. Ariyadasa1, W. M. P. S. B. Wahala2a & R. Gunawardene2b

Sabaragamuwa University of Sri Lanka.1,2a
Envirinmental And Sustanability Division Textured Jersey Lanka PLC, Avissawella2b
The survival of the organisms in the earth will depend on three factors, Water, Air &
food. Among these three, water is more important. With the increasing of population
and industrial activities the demand for the scarce water is increasing rapidly. Those
high demands take people to face the scarcity of fresh water. The amount of existing
fresh water has high demand from both industrial and human activities. Water
conservation in fabric dyeing operations is one of the main concerns in corporate
sustainability agendas in such business. The main objective of this study was to assess
the actual water consumption in dyeing operations and to quantify the water saving
potential of dyeing operations in Textured Jersey. This study was analyzed the actual
water usage in the dyeing department and main reasons for the variation between
actual water consumption and standard water consumption in dying department. And
also compare and contrast the different water consuming patterns & behaviors in the
dying department to identify the possibilities for reduce controllable water wastages.
Study was conducted for 6 months period in 2015. Data were collected using water
sub meter readings, AREL readings. Water flow rates were taken following standard
methodologies where applicable. Video sampling and systematic observations were
done to investigate water waste streams. For further analysis past water meter
readings, water bills, production details, and SAP system records were used.
According to the findings, 97.58 liters of waste water are generated through the entire
process of processing of 1kg of knitted fabric. The water consumption for the process
of 1kg of fabric is 117.8 liters. More than 80% of this water consumption represents
overhead water consumption. Mainly considerable amount of water has been used for
the production as direct rinse. It is estimated approximately 1.5 liters for 3 minute
direct rinse and 3.5 liters for 4 minute direct rinse for rinsing of 1kg of knitted fabric.
92
The reusable amount of water which relates to direct rinse is estimated as 50.07 m3
per day. According to the findings of the study there is a possible to reduce the water
consumption by 18,766.4m3 per year by implementing water saving options identified
in the study.
Keywords: Water Consumption; Overhead Water Consumption
93
Marketing Management
94
The Impact of Automated Teller Machines (ATMs) Service on

Customer Satisfaction: A Study Based on State Banks in Sri Lanka
R. A. S. Weerasiri1 & K. C. Koththagoda2

Department of Marketing Management, Faculty of Commerce and Management Studies,
University of Kelaniya, Sri Lanka
sudathweerasiri@hotmail.com/ sudath@kln.ac.lk 1
kosalackg@gmail.com2
The aim of this paper is to understand the impact of the ATM service quality towards
the customer satisfaction in Sri Lankan state banking sector. This research bridges the
gap that exists in the current body of knowledge by investigating the ATM service
qualities and their impact on customer satisfaction. It also examines the impact of
demographic factors for the relationship between the ATM service quality and the
customer satisfaction. Given these gaps in the literature, the research problem in this
research is: the factors which influence on customer satisfaction in relation to the
ATM service. To investigate the research problem, a pilot study involving 30 state
bank customers was used to check the initial reliability and validity of the constructs
in the questionnaire. The factor analysis was employed to refine the measurement
items and test the reliability and validity. The study has used the primary data of
customer satisfaction survey (N=385). The data were collected using a structured
questionnaire designed to ascertain the satisfaction levels. Regression, ANOVA and
T-test were used to identify the significant factors and frequency analysis was used to
analyze the customer satisfaction. The ATM service qualities have a positive impact
on the customer satisfaction and the demographic factors like age and educational
qualification show a moderate the relationship between the ATM service quality and
the customer satisfaction. This paper identified the significant factors which the banks
may take care to enhance the customer satisfaction.
Keywords: Automated Teller Machines; Customer Satisfaction; Service quality
95
Determinants of the Customer-Based Brand Equity: A Verification

Approach in the Liquefied Petroleum Gas Industry in Sri Lanka
D. K. R. Madushani1 & T. C. Gamage2

rumadhu123@gmail.com1
Branding plays an important role in the contemporary marketing, and is the focus of
much literature, both academic and professional. This paper aims to examine the
practicality and application of the Aaker (1991)s well-known conceptual framework
of customer-based brand equity. Data stemmed from a sample of 150 consumers who
have been consuming the Liquefied Petroleum Gas in Sri Lanka was used to assess
the way in which consumers perceptions of the dimensions of customer-based brand
equity affected the overall customer-based brand equity evaluations. The study
employed multiple regression analysis to investigate the causal relationships among
the dimensions of customer-based brand equity and customer-based brand equity
itself. The study concludes that the brand loyalty, brand association and perceived
quality as the most influential dimension of customer-based brand equity. Weak
support is found for the brand awareness dimension. Marketing managers should
consider the relative importance of the customer-based brand equity dimensions in
their overall customer-based brand equity evaluations.
Keywords: Brand Association; Brand Awareness; Brand Loyalty; Customer-based

Brand Equity; Determinants; Perceived Quality
96
Impact of Visual Merchandizing on Impulse Buying Behaviour of Sri

Lankan Retail Customers: with Special Reference to Household
Electrical and Electronic Appliances
K. D. L. R. Kapuge
kapugerandi@gmail.com
Sri Lankan retail customers show both rational and impulse behaviour patterns
towards different product categories and marketers face difficulties in predicting the
buying rational buying behaviour and impulse buying behaviour towards household
electrical and electronic appliances. This paper aims to examine the impact of visual
merchandising techniques on impulse buying behaviour of household electrical and
electronic appliances. The study used window display, floor merchandising, in-store
form display and promotional signage as visual merchandising techniques. Data was
gathered through a survey questionnaire from 320 respondents from Western Province
of Sri Lanka. A Multiple Linear Regression Model was used to assess the degrees of
impact from each individual visual merchandizing technique on impulse buying
behaviour of electrical and electronic and electronic household appliances. The
research findings demonstrated that there is a positive and significant Impact of visual
merchandizing on impulse buying behaviour of Sri Lankan retail customers towards
electrical and electronic house hold appliances. Window display and promotional
signage were reported as the two key determinants and showed a positive and
significant impact with impulse buying behaviour of retail customers towards
electrical and electronic household appliances. As Sri Lankan marketers were
struggling to select marketing strategies based on rational behaviour, insights of this
research help them to understand the importance of impact of visual merchandizing
on impulse buying behaviour of the retail customers towards electrical and electronic
household appliances. Research findings underscore the existing body of knowledge
on the impact of visual merchandizing on impulse buying behavior of retail customers
of Sri Lanka.
Keywords: Impulse Buying; Visual Merchandizing; Retail Customers; Sri Lanka
97
Evaluating the Factors Influencing on Customer Retention in the

Mobile Telecommunication Industry in Colombo District of Sri
Lanka
A. S. J. Karunakaran1 & P. Selvarajan2

Department of Economics and Management, Faculty of Business Studies
Vavuniya Campus of the University of Jaffna, Sri Lanka
sukaru--05@hotmail.com1, poongothai.selvarajan@gmail.com2
The aim of this research study is to evaluate the factors influencing the customer
retention in the mobile telecommunication industry in Colombo district of Sri Lanka.
This study adds many other supporting materials especially for the literature review.
Moreover, the conceptual model used in this study also supports to find the influence
of the factors on customer retention. An in-depth interview and a questionnaire survey
have been done by the researchers ingus100 retained customers. The data were
collected from the customers in Colombo who have obtained 10 years services with
the same telecommunication company, based on the convenience sampling method.
The data is analyzed through regression analysis with the help of the SPSS version
16.0. Out of four variables, it is found that service quality, payment equity and
effective commitment have the influence on the customer retention. However, the
fourth variable-loyalty program has no significant influence on the customer
retention. The findings can help the service providers to identify the impact of loyalty
program, service quality, payment equity and effective commitment toward the
customer retention. This current study has its own limitation since this research is
only conducted in Colombo district. Therefore, future studies can be extended to other
districts in Sri Lanka with a large sample.
Keywords: Customer retention; Effective commitment; Payment equity; Service

quality; Telecommunication industry
98
Review on Perceived Risk Factors In Relation to Purchase Intention

towards Electric Vehicle Brands in Sri Lanka
D. K. Thilina1 & D. M. R. Dissanayake2

Department of Marketing Management, University of Kelaniya, Sri Lanka
thilinasq@live.com1, dmravidissa@gmail.com/ravi@kln.ac.lk 2
The trend of innovations takes place in the vehicle manufacturing industry has pushed
the patterns of consumption towards the new dimensions of key value propositions
including cost efficiency as one of the key matters. However, consumer adoption to
the new products is depending on the notion of perceived risk whereas consumer
decision making process becomes a vital factor. Brands or manufacturers need to
figure out how consumers respond to their marketing stimulus in making product
purchase intention. A significant market context is found in Sri Lanka for the electric
cars alongside the push factors of government policies and marketing practices of
brands in persuading consumers to get adopt to the new product buying decision.
However, it has found less studies in Sri Lankan context to figure out how consumers
respond to make purchase intention towards the electric car brands as a specific
research proposition. Accordingly, this concept paper intends to propose future
research direction by revealing how perceived risk as a notion does effect on the
purchase intention to the consumers towards electric vehicle brands considering Sri
Lanka as a special context. This paper has followed literature review to construct the
research propositions and hypotheses as a new contribution to knowledge since it
finds the considered product category as not being enough examined. Accordingly,
paper has concluded the alternative provisions to conceptualize future research studies
via suggesting variable relationships referring to perceived risk factors and purchase
intention.
Keywords: Electric Vehicle Brands; Perceived Risk; Purchase Intention; Sri Lanka
99
Using the 7Ps as a Generic Marketing Mix: An Exploratory Survey

of Insurance Industry in Sri Lanka
D. A. M. Perera1 & H. A. B. W. Hettiarachchi2

Department of Accountancy, Faculty of Business Studies and Finance, Wayamba University
of Sri Lanka, Kuliyapitiya, Sri Lanka.1
Department of Social Sciences, Faculty of Social Sciences and Humanities, Rajarata
University of Sri Lanka, Mihinthale, Sri Lanka.2
methsila240@yahoo.com1
The marketing mix is the combination of marketing activities that an organization

engages in best meeting the needs of its clients. The due weightage in the formation of
marketing mix, therefore, is needed for the insurance business too. In 2014, the total
insurance penetration (as a percentage of GDP) in Sri Lanka was 1.02% indicating a
very low level of penetration for both life and non-life businesses. This study
therefore sought to explore the use 7 Ps mix in insurance industry in Sri Lanka.A set
of attitudinal statements explaining the underlying phenomenon were formulated and
was included in a structured questionnaire; was administered with a sample of life
assurance agent (n=216), during January March 2015. The Binary Logistic
regression analysis was used to predict the probability that an insurance agent to be a
better performer based on his or her socio demographic, hygiene and motivation
factor values, using the SPSS Software (Version 17). Views of the respondents were
recorded on five-point likert scale ranging from Strongly Disagree (1) to Strongly
Agree (5). The results suggest that the 7Ps framework has already achieved a high
degree of acceptance as a generic marketing mix in insurance industry in the Sri
Lanka (x = 3.79; SD=0.4132). Overall, the results of this study provides a strong
support for the view that Booms and Bitners 7Ps framework should replace
McCarthys 4Ps framework. Also indicate that, among the 7Ps, People, Process, Price,
Place and Product are highly influential on the purchasing decision in the insurance
industry. Based on the findings, this study recommends that insurance companies
should focus more on 7Ps in designing its generic marketing strategies.
Keywords: 7Ps; Generic Marketing mix; Insurance Industry; Sri Lanka
100
The Impact of Customer-Based Brand Equity on Customer

Satisfaction
W. H. T. Madhuhansi1 & D. Jasinghe2

thejamadhuhansi@gmail.com1
Believing the satisfied customer as the key to the success, marketers focus more on
different ways of attracting and keeping customers satisfied. Among the leading
factors towards satisfaction, brand equity plays a major role. As a result of the rapid
competition in the market, more attention is given to the value of the brand from the
customers point of view. Present study aims to identify the impact of customer-
based brand equity on the satisfaction of corporate customers for the purchases done
with Arpico Interiors brand. Data was collected from a convenient sample of 270
customers in the western province through self-administered questionnaires. Based on
CBBE model, the research model was constructed with the purpose of investigating
the applicability and practicality of the model with reference to the Arpico Interiors
brand. As the variables, Brand Awareness as measured by five items, Brand
Associations by nine items, Perceived Quality by six items, Brand Loyalty by three
items and Customer Satisfaction by three items were considered. The hypotheses were
tested by using the multiple regression analysis. The findings show that the perceived
quality has the highest impact on customer satisfaction with a coefficient of 0.508.
Further, brand association and brand awareness impact on customer satisfaction with
co efficiencies of 0.398 and 0.106 respectively and brand loyalty has no impact on
customer satisfaction. Finally, the most effective and suitable solutions and opinions
were recommended for the organizations success.
Key words: CBBE; Corporate Customer; Customer Satisfaction
101
Factors Influencing on Purchase Intention of Mens Cosmetic

Products: with Special Reference to the Mens Fairness Cream
Products
R. A. S. Weerasiri1 & H. M. G. Y. J. Hennayake2

Department of Marketing Management, Faculty of Commerce and Management Studies
University of Kelaniya, Sri Lanka.
sudathweerasiri@hotmail.com1, gowrihennayake@gmail.com2
Changing life style of Sri Lankan youth has led to a strong demand for fairness
creams in Sri Lanka. Sri Lankan market is gradually creating an opportunity for the
cosmetics market. The trend analysis of leading companies,revealed that there is a
significant need for the behavioural study to penetrate mens consumer market in Sri
Lanka. In the global context, researchers have done a number of studies regarding the
mens grooming products. In Sri Lankan context, a limited number of researches have
been carried out to find out the purchasing factors of mens fairness cream products.
The study would be beneficial to business organizations to drive the sales and to shift
the brand. Therefore, the purpose of this study was to examine the factors effect on
the Purchasing Intention on Mens Fairness cream in Sri Lanka. Data was collected
through a sample of 250 male respondents from Colombo area. SPSS 16 software
packages has used for data analysis purpose. The conceptual model and hypotheses
were tested using inferential statistics such as Co-relations and Coefficient techniques
whereas charts, mode, median; percentages were used under descriptive statistics.
Findings revealed that Brand, Product Quality and Place of Distribution have a strong
positive relationship with the purchasing intention of fairness cream products and the
Price and Promotion show a moderate positive relationship. Product Quality, Price,
Promotion, Brand and the Place of Distribution can be identified as the most
influencing factors towards the purchase intention for mens fairness Cream in Sri
Lankan market.
Keywords: Fairness Cream; Purchase Intention; Sri Lanka
102
Reengineering Academic Institutional Standards
L. Devendra1 & U. Sonnadara2

Faculty of Information Technology, Aquinas University College, Sri Lanka.1
Department of Physics, University of Colombo, Sri Lanka.2
lasithadev@gmail.com1
This research attempts to show that reengineering academic institutions should follow
a sequence of pre-determined activities. It is noted that reengineering of most
academic institutions do not follow a systematic process, hence resulting in not
achieving the desired objectives. The reengineering process is also known as Business
Process Reengineering (BPR). BPR means not a slight change, but radical or dramatic
change involving systematic elimination of unnecessary processes while reintroduce
in new processes to an organization. As a general rule, teaching and learning must be
reengineered before the administrative and management processes. Core function of
any academic institution is teaching and learning. The process of teaching in an
academic institution, begins with the identification of industrial demands, designing a
module structure, improving the module to suit desired needs, course contents and the
methods of delivery, integration to the academic program, recommendation of
teaching and reading material, technology infusion to the module, selecting suitable
academic staff for the course delivery, curriculum updates, student evaluation and
assessment. The authors are of the understanding that unless the current practices and
skills of learners reach the international standards, they may not be able to take
advantages of the current opportunities. The authors are researching into the use of
ICT involved in the Sri Lankan education system. There are many stages from the
enrolment of students to academic programs to final completion that may need
consideration during this research. It was observed that many current academic and
management practices may need drastic changes to meet this requirement.
Keywords: Reengineering; Process; Radical; Technology Infusion
103
Role of Celebrity Worship Motives in Evaluating Endorsed Brand: A

Literature Review for Future Research Propositions
D. M. R. Dissanayake1, N. Ismail 2a, W. M. C. B. Wanninayake2b
& H. L. N. Wasantha2c
Department of Marketing Management, University of Kelaniya, Sri Lanka1,2b
Taylors Business School, Taylors University, Malaysia2a
Lincoln University College, Malaysia2c
dmravidissa@gmail.com / ravi@kln.ac.lk1
The effectiveness of celebrity endorsement in evaluating endorsed brand is one of the

timely needed research notions in Sri Lanka depending on its significance remarked in
both knowledge and practice related perspectives. Sri Lankan consumers have been
exposing to different celebrity endorsed brands including some of the over
endorsement cases too. It is noticed that services sector brands intensively depend
on celebrity endorsement strategies in a noticeable trend. The psychological bond
exists between celebrities and the fans, whom were targeted as potential consumers
for the endorsed brands, has been referred in the proposition of Celebrity Worship
Motives. However, this notion has been less studied in Sri Lankan context to examine
how it does affect the consumers to evaluate the brands endorsed by celebrities whom
they prefer. Alongside, this concept paper attempts to build theoretical explanation to
present research propositions on examining how the role of celebrity worship motives
effect on the perceived effectiveness of celebrity endorsement which result in the
perceived brand evaluation. It has followed the theoretical review method to template
the content in building rationale on how celebrity worship motive shapes consumer
evaluation towards the endorsed brand. As per the theoretical analysis, the study
suggested Brand Love, Brand Trust and Brand Attitude as some of the prominent
contexts of perceived brand evaluation. Finally, this paper presents research
hypotheses to study the impact of celebrity worship motives on the relationship
between the perceived effectiveness of the celebrity endorsement and the different
contexts of perceived brand evaluation by highlighting the knowledge gaps and
practice-related significance in Sri Lanka.
Keywords: Celebrity Worship Motives; Effectiveness of Celebrity Endorsement;

Perceived Brand Evaluation
104
The Impact of the Perceived Effectiveness of Celebrity Endorsement

on Perceived Brand Personality
D. M. R. Dissanayake1 , N.M. Amarasinghe2a & R. A. S. Weerasiri2b

Department of Marketing Management, Faculty of Commerce and Management Studies,
University of Kelaniya, Sri Lanka.
dmravidissa@gmail.com/ravi@kln.ac.lk1, sudathweerasiri@hotmail.com2b
The application of celebrity endorsement practices in Sri Lanka has been intensive
due to head on brand competitions resulting companies to depend on celebrities as
one of the responsive strategies. However, it is crucial to examine the absolute
effectiveness of the celebrity endorsement towards the endorsed brand as to
rationalize the marketing expenses incurred. This is a critical matter for the industries
or sectors where celebrity endorsement takes place quite competitively. Alongside the
said preview, this study focuse on evaluating the perceived effectiveness of celebrity
endorsement on perceived brand personality. Accordingly, it has examined the
relationship between celebrity endorsements related dimensions with the perceived
brand personality to explain how it does make results-driven celebrity endorsement.
Findings reveled that there is a positive relationship between perceived effectiveness
of celebrity endorsement and perceived brand personality. Accordingly, it was noticed
that the attractiveness and trustworthiness of celebrity endorsement prominently
influence perceived brand personality reporting more than 0.8 of correlation values in
both cases. Further, expertness of the celebrity also plays a major role. In line with the
findings, this paper contributes for the managerial practices referring how to use
effective celebrity endorsement strategies to make effective brand building strategies.
This could be used as a decisional guide to companies in managing celebrities to
enhance brand performance without tarnishing the respective brand image and
personality. Finally, it has presented the future research directions as a contribution to
knowledge by reviewing the research gaps found in Sri Lankan context.
Keywords: Attractiveness; Effectiveness of Celebrity Endorsement; Expertness;

Perceived Brand Personality; Trustworthiness
105
The Impact of Brand Equity on Customers Purchase Intention: with

Special Reference to Germ Protection Toilet Soap Brands in Sri
Lanka
K. D. L. R. Kapuge
Department of Marketing Management, Faculty of Management Studies,
kapugerandi@gmail.com
Purchase intention is one of the prominent factors which effect on the purchasing
decision and is very vital to understand the purchase intention to understand the
customer behavior .Brand Equity impact differently on different types of fast moving
consumer goods under the different contexts. The main purpose of this research was
to identify the impact of brand equity on customers purchase intention towards germ
protection toilet soap brands in Sri Lankan context. Brand equity was used as the
independent variable and it was measured through brand loyalty, brand awareness,
brand association and perceived quality. Data were gathered from 360 respondents in
the Western Province of Sri Lanka though a survey questionnaire. A linear Multiple
Linear Regression Model was used to assess the degrees of impact from each brand
equity dimension on purchase customers intention towards gram protection toilet
soap brands. The research finding demonstrated that there is a positive and significant
impact of brand equity on customers purchase intention towards germ protection
toilet soap brands in Sri Lankan context. Perceived quality and brand loyalty were the
two key dimensions of the brand equity which impact on the customers purchase
intention towards germ protection toilet soap brands in Sri Lanka. Marketers need to
create appropriate marketing mix strategies to increase the perceived quality and gain
more customer loyalty to create brand equity for germ protection toilet soap brands.
Research findings underscore the existing body of knowledge about impact of brand
equity on customers purchase intention of fast moving consumer goods in Sri Lanka.
Keywords: Brand Equity; Purchase Intention; Fast Moving Consumer Goods;

Customers; Sri Lanka
106
Consumer Preferences for Organic Food in Colombo Municipal

Council
W. P. S. Wijesinghe1 & P.Sivashankar2

Department of Agribusiness Management, Faculty of Agricultural sciences
shankar@sab.ac.lk2
Organic farming is gaining as an environmental friendly production system with

health benefits for consumers. This paper addresses Consumer preferences for
Organic food in Colombo, Sri Lanka. Specifically (i) to determine the consumer
awareness level, (ii) to determine the level of WTP, and (iii) to determine the most
preferred attribute which affect for higher WTP for organic food in Colombo. One
hundred and nine respondents were used for choice card experiment in this study. The
survey included question on demographic characteristic, knowledge about organic
product and attitudes toward health hazards and environmental degradation due to
agrochemical application. Three different products attribute (cultivation method,
availability of certification and prime price percentage) were considered. Results
indicate that 81% of respondent have awareness about organic food concept.
Respondents had negative attitude on non-organic food. The results suggest 85%
respondents prefer to consume organic food and on average, respondents were willing
to pay 34% more for organic produces. Average importance percentages indicate that
the most important features are those indicating certification (44.5%), cultivation
method (34%) and prime price (21.3%). Most suitable product was organically
growing fresh produce with international certification and 30% prime price in
Colombo. The finding of the study will be helpful to producers and sellers in
assessing market potential for organic food in the Colombo.
Keywords: Conjoint Analysis; Consumer Preferences; Organic Food; Willingness-to-

pay
107
Impact of Perceived Brand Equity towards Purchase Intention of

Life Insurance Services in Sri Lanka: Concept Paper
N. Gunawardane1 & D. M. R. Dissanayake2

Department of Marketing Management, University of Kelaniya.
nrgunawardane@yahoo.com1 dmravidissa@gmail.com/ ravi@kln.ac.lk2
The life insurance sector in Sri Lanka is one of the fast growing sectors in the services
market resulted through intensive business development strategies and tactics.
Insurance sector companies in Sri Lanka have been converting into new structural
reforms in line with the mandatory requirements imposed by the relevant authorities.
Meanwhile, life insurance segment of insurance businesses has been emerging with
service innovations and competitive brand building strategies resulting brand equity
as a base of positioning. It notices the extended applications of brand equity building
strategies amongst the life insurance brands to build strong brand equity in reaching
business growth. Some brands use celebrities, brand activations, public relations,
personal selling and advertising in new formats to meet brand related performance at
competitive edge. This study aims to review how the brand equity related theories and
models could connect with the brand-related behaviors of the consumers with special
reference to purchase intention. As theories suggest, the notions of brand equity
comprises with four main elements; Brand Awareness, Brand Association, Perceived
Quality and Brand Loyalty whilst existing literature sources highlight Purchase
Intention as one of the brand related responses found in consumer behavioral
contexts. Alongside, this paper has followed disruptive literature bases review
methodology to build research propositions to be examined in future studies referring
to life insurance as specific research context. In par with the methodology followed,
this paper contributes to the knowledge as providing future research directions along
with the rationales of research gaps exist in Sri Lankan insurance market context.
Keywords: Brand Equity; Purchase Intention; Life Insurance; Services Market
108
Tourism Management
109
Alienation within Alienation: European Fantasmatic, Tourist Gaze

and the Logic of Colonial Tourism in Postcolonial Sri Lanka
M. Hapugoda1 & I. Ratnayake2

Department of Languages, Sabaragamuwa University of Sri Lanka.1
Department of Tourism Management, Sabaragamuwa University of Sri Lanka.2
hapugoda@gmail.com1
Re-appropriating colonial attractions for tourist gaze has generally been a lucrative
commercial practice in post-independent nations. When they are revitalized with the
state sponsorship, these signifiers can also function to resuscitate the memories of
centuries-old imperial oppression, exploitation and alienation in the respective subject
nations. Apart from catering to the historical nostalgia of the European tourists, they,
at the same time, permanently alienate the locals in their own cultural environment
who still struggle with the traumatic memories and discourses of colonialism. In
relation to the historical unconscious of the postcolonial subjects whose present is
retroactively structured by the traumas of a disturbed past, despite the immediate
commercial success in tourism, it can be argued, in line with Homi K. Bhabhas
decolonization paradigm, that these archeological artifacts intercut with the
postcolonial identity by further alienating the postcolonial subjects within their own
setting. In this light, this essay views that the rise of postcolonial exotic tourism that
caters to the European fantasmatic gaze still depends on the Western idea about the
Orient. Further, on the subjectivization and depersonalization of once colonized
subjects, in the present postcolonial context, this paper suggests that the postcolonial
tourism should re-interrogate the initial Fanonian question, what do the European
tourists want? It, therefore, concludes that as long as the postcolonial nations believe
in the European fantasmatic they will be caught in the deadlock of master-slave
fantasy-desire of the European Other rather than journeying for a new mastery over
their former White Masters.
Keywords: Colonial Tourism; Decolonized Identity; European Fantasmatic; Tourist

Gaze
110
Community Participation in Tourism Decision Making Process: A

Case Study of Arugam Bay, Sri Lanka
C. N. R. Wijesundara
Sabaragamuwa University of Sri Lanka, Belihuloya, Sri Lanka.
namalsusl@yahoo.com
This study focuses on the local community participation in the tourism development
process of Arugam Bay in Sri Lanka as a popular surfing destination. Participation in
the decision-making process is a crucial determinant in ensuring that the benefits
accrued by local communities from tourism are guaranteed. Therefore, the objective
of this study is to identify the level of community participation in tourism decision
making process. The study utilized a case study approach, which offers: exploration
at the community level to analyze the issue from the grass root level. Participation of
diverse stakeholders (Local government institutes, NGOs, Tourism entrepreneurs, the
members of community, and tourism professionals) and the use of mix methodology
by using multiple data collection techniques such as household questionnaire surveys,
stakeholders interviews, and personal observations have improved the validity and
reliability of the results and effectively answer the main research question. This study
concluded that, there was an induced participation of the local community in the
tourism decision making process in Sri Lanka. Under the induced community
participation, the host community is normally involving in moderate level with
decision-making process and they dont have any power to make sure that their
thoughts are considered for implementations. The paper contributes to the wider
scientific discussion on community participation in tourism industry, and reveals vital
insight for tourism planners, policy makers and decision makers.
Keywords: Community Participation; Tourism Decision Making; Tourism

Development
111
Impacts of Unplanned Tourism Development on Tourists

Satisfaction with Special Reference to Negombo, Sri Lanka
K. M .R. Charika1 & W. K. A. C. Gnanapala2
Department of Tourism Management, Sabaragamuwa University of Sri Lanka, P.O. Box 02,
Belihuloya, Sri Lanka.
Negombo is a popular tourist destination and has attracted millions of tourists over the
last few decades. However, the unplanned tourism developments and constructions
have become a major impediment for its sustainability and also deteriorate the
tourists satisfaction. Therefore, the objective of this paper is to identify the impacts
of unplanned tourism development on tourists satisfaction. The data gathered though
a questionnaire survey using 378 tourists at Negombo beach and two interviews with
athourized persons in Negombo and hence the study has used the mixed methodology.
The study considered that the tourists' satisfaction depends on the factors related to
the tourism planning and development such as natural and manmade attractions,
infrastructure and superstructure, social and cultural setting, environmental
management, government and industry intervention on tourism planning through
developing rules, regulations and policies etc. The result of the survey shows that,
except the social cultural setting, all the other factors positively influence on the
tourists satisfaction who visited Negombo. The tourists are dissatisfied about some
social cultural factors, especially the behaviour of beach boys. The majority of the
tourists believe that, the beach boys have disturbed their holidays. Also, the hawkers
have disturbed the holiday spending of the tourists. The tourists believe, that the
locals suffer from xenophobia and the Sri Lankan culture has presently become a
commodity. Even though tourists are dissatisfied with the socio-cultural setting of the
area, the study concludes that the majority of the tourists are satisfied with the present
tourism development in the study area. However, the government and the industry
should intervene to take necessary actions to improve the social cultural setting of the
Negombo area to ensure the sustainable tourism and development.
Keywords: Tourism Planning; Tourists Satisfaction; Unplanned Tourism
Development
112
Policy Choices for Sustainable Tourism Development in Nigeria
A. Adedayo1 & H.M. Bandara2

Department of Geography and Environmental Management, University of Ilorin, Ilorin,
Nigeria.1
Department of Economics, University of Ilorin, Ilorin, Nigeria.2
getdebsi@yahoo.co.uk1 , herathbandara@hotmail.com2
Sustainable tourism development meets the needs of the present day tourists and host
regions while protecting and enhancing opportunities for the future requires coherent
and congruent policy formulation. As generalized statements of intentions of how to
formulate tourism development plans or programmes, tourism policies need to be
systematically examined before the choices are made between alternatives. Nigeria as
a developing country with enormous tourism development potentials is unable to
manage tourism towards sustainable development. Although the country has put in
place a package of tourist based development policies, the problem is attributable to
the lack of proper tourism policy commitment and the wide gap existing between
tourism policy goals and achievements. The main objective of this study is therefore
to examine the policy options for the sustainability of the tourism sector in Nigeria,
based on the extensive survey of literature and national statutory planning and policy
documents. The study reveals certain major implementation gaps in the identified
tourism policy options and concludes with some recommendations that should be
considered by the policy makers, toward achieving the goal of sustainable tourism
development.
Keywords: Sustainable Tourism; Policy; Nigeria
113
The Roles of Beach Boys and Their Influences on Sustainable

Tourism Operations: A Study of Hikkaduwa Sri Lanka
D. De Zoysa1 & W. K. A. C. Gnanapala2
Depratment of Tourism Management, Faculty of Management Studies
Tourism is a multidisciplinary industry that involves many different stakeholders in

its operational activities. One of the primary criteria of sustainable tourism
development in any tourist destination is the active participation and collaboration of
stakeholders. The beach boys are one of the major stakeholders in the coastal tourism
and depend upon tourists, who generate both positive and negative impacts to the
tourism industry as well as to the local community and society. Therefore, the study
investigates the roles of the beach boys and their effect on the sustainable tourism
operations in Hikkaduwa beach area. The study also identifies the problems and
difficulties faced by the beach boys while participating in the tourism. The study was
conducted using the mixed methodology. A survey was conducted using a self-
administered questionnaire and the data gathered from 113 tourists who visited
Hikkaduwa beach area. In addition, 10 unstructured interviews and discussions were
conducted to gather information from the beach boys and all the other stakeholders
such as hotel managers, shop owners and three wheel drivers. The study revealed that
most of the tourists like to obtain the beach boys service as it is cheap and widely
available. Further, the tourists perceived the beach boys as friends and believed that
they play positive roles in tourism. There were few segments of foreign tourists who
were highly afraid of the beach boys and their appearance and behaviours and further
believe that they play negative roles. On the other hand, the local community
including hoteliers refuse the role and the behaviour of the beach boys from tourism
operations. The study found that there is a positive relationship between the beach
boys and sustainable beach tourism in Hikkaduwa according to the tourists point of
view. The prevailing conflicting situation has negatively affected on the sustainable
beach tourism in Hikkaduwa.
Keywords: Beach Boys; Beach Tourism; Sustainable Tourism Operations; Tourists
Perception
114
Ontology Beyond Borders: Tourist Gaze and the Sense of Universal

Appreciation in World Heritage Sites in Sri Lanka
I. Ratnayake1 & M. Hapugoda2

Department of Tourism Management ,Sabaragamuwa University of Sri Lanka.1
Department of Languages, Sabaragamuwa University of Sri Lanka.2
iraj@mgt.sab.ac.lk1
From an ontological point of view, tourism sites which host World Heritage stamp
have faced an existential crisis; the reality that sustains its monumental significance
gets altered and lost in the face of commercialization. The holistic appearance that
attracts the tourists nostalgia is irreparably damaged by the community who struggles
for survival in these sites. However, tourism as a modern cultural phenomenon is
possible only when man develops a generalized interest that catches the gaze of the
tourists who are driven to travel beyond his particular habitat. For those who present a
reality to the tourist must also have a Kantian public sense of universal appreciation,
aesthetic judgment and cultural awareness in things that can existentially attract and
excite them. The cosmological sense of appreciation that transcends from government
agencies to community stakeholders, as this paper reviews, not only preserves the
historical and holistic integrity of the site itself, but may advance the tourism industry
which can sustainably promote these sites for the alienated tourists. By reviewing the
empirical evidence through observations and stakeholder interviews in Kandy City
and Galle Dutch Fort in Sri Lanka, where serious site mismanagement issues and
stakeholder interference can be found in disturbing holistic aesthetic integrity that
caters the tourist gaze, this paper suggests that tourism ontology on holistic universals
should be taken into account rather than spatiotemporal particulars such as abstract
individual and political interests of those who struggle in the respective sites.
Keywords: Aesthetic integrity; Galle Dutch Fort; Kandy City; Tourism Ontology;
Universal Appreciation
115
Issues and Challenges Related to the Wedding Tourism Development

in Sri Lanka
D. Samarasekara1 & W. K. A. C. Gnanapala2

Wedding Tourism, as an authentic and looming part of the tourism industry, is

sensations that have taken off universally in recent years and which is becoming
prevalent, especially for small islands. Therefore, the research into the wedding
tourism industry in Sri Lanka has great significance. The prime objective of this study
is to find out the issues and challenges faced by wedding tourism industry people in
Sri Lanka. In addition to that the study investigates the satisfaction level of the
wedding tourists. A mixed method approach was used comprising questionnaires, that
were given to 45 tourist couples who visited Sri Lanka to identify the level of
satisfaction they have on the wedding package and semi-structured interviews were
conducted with 5 different hotels and 5 travel agents in relation to identify the issues
and challenges. The study identified that Sri Lanka has a booming demand as a
wedding destination and few issues and challenges facing by industry while
promoting wedding tourism. That identified main issues and challenges are limited
budget of the foreign couples, competition with the highly established wedding and
honeymoon destinations, heavy documentations and lack of government supports and
their inappropriate rules, regulations and taxes etc. The findings revealed that
wedding tourists are satisfied with the cost of wedding package, behavior and attitude
of the industry employee, specialized services, and wedding location and theme.
Finally, the destination managers should better understand travel motivations of
tourists and their satisfaction before developing packages, marketing and promotional
strategies.
Keywords: Wedding tourism; Tourist satisfactions; issues and challenges; destination

marketing
116
Behavioral Characteristics of Solo Female Travellers

in Sri Lanka
M. P. D. R. S. Senevirathne1 & W. K. A. C. Gnanapala2
ridnadee.sakuni@gmail.com1
Over the last decade the participation of Solo female in tourism has increased
significantly. A Solo female traveller is a free and independent woman traveller who
does not accompany any as a travel partner, at that particular time, they make sheer
desire or enjoyment of travelling alone. The main objective of this study is to identify
the behavioural characteristics and travel motivations of Solo female travellers in Sri
Lanka. In addition, the study intends to discover the relationship between Solo female
travellers attitudes, perception and satisfaction related to their holiday stay in Sri
Lanka. The study was carried out with a mixed methodological approach. Structured
questionnaire was administered with 50 Solo female travellers and structured
interviews were conducted with 4 accommodation providers and 6 travel service
providers in the industry. SPSS 21 software package, Percentages, open coding and
axial coding methods were mainly utilized to analyze the collected data. The findings
derived that Solo female travellers are the self-motivated young travellers who wish to
use normal destination facilities. The majority of the Solo females expect only budget
facilities in the destination and their behaviours are as ordinary as a backpackers. Solo
females are highly motivated on visit a place that they have not visited before and
experience new and different lifestyles or traditions. Statistical results from multiple
regression analysis indicate that the factors such as attraction & facilities and
supportive services have significant impact on Solo female traveller satisfaction. The
factors, such as accommodation & food, infrastructure facilities and behaviour of the
community do not significantly effect on their satisfaction. However, almost all
destination attributes should be improved to match with the requirement of this niche
travel segment. This study provides the useful guidance and accurate information to
establish a friendly environment to promote Solo female travel market in Sri Lanka.
Keywords: Behavioural Characteristics; Perception & Satisfaction; Solo Female
Travellers; Travel Motivation
117
Interpretation Quality of Tourist Guides and its Impacts on

Tourists Satisfaction in Round Tours
H. Dinusha1 & W. K. A. C. Gnanapala2

Tourist Guides play a vital role in satisfying the tourists visiting a country and the
quality of interpretation is the main concern of the tourists as well as the travel
agencies. The travel agencies receive complains frequently from overseas tour
operators about the tour guides regarding their poor knowledge about the attraction
sites, cheating behavior, lack of fluency in language etc. The study focuses to identify
interpretation quality of tourist guides and its impact on tourists' satisfaction. The
study is conducted as a questionnaire survey using 192 foreign tourists who
experienced round tours with National or Chauffeur guides registered in reputed
DMCs in Sri Lanka. Data was analyzed using descriptive statistics, correlation and
multiple regression analyses. The study has proved the interpretation quality of guides
greatly influence the tourists satisfaction. The factors related to the interpretation
quality such as elaboration and relevancy of information are positively influenced the
tourists satisfaction whilst the factors i.e. empathy and positive attitude towards nature
are negatively influenced the tourists satisfaction. The study offers both theoretical
insights related to interpretation and tourist satisfaction as well as practical
implications for improving interpretive tour guiding in round tours in Sri Lanka.
Keywords: Interpretation Quality; Round Tours; Tourist Guides; Satisfaction
118
Quality of Physical Environment and its Effect on Tourists'

Satisfaction: A Study on Sri Lanka
M. Wijemuni1 & W. K. A. C. Gnanapala2

Sri Lanka is a competitive tourism destination located in South Asian region. It is rich
with valuable natural resources all over the island. However, the declining
environmental quality adversely affect the tourist satisfaction in Sri Lankan.
Therefore, the objective of this study is to assess the quality of the physical
environment and its effects on the tourists satisfaction. The study was carried out as a
questionnaire survey by using 384 international tourists selected through convenience
sampling. The descriptive statistics, correlation and regression analyses were utilized
to analyze the data. The findings indicate that the poor quality of the physical
environment has negatively influenced the tourists' satisfaction and the majority of
tourists are dissatisfied with the environmental management of Sri Lanka as a tourist
and destination. It is necessary to improve the quality of the physical environment to
satisfy the existing tourists then the satisfied tourists will act as evangelists of the Sri
Lankan tourism, who spread the positive word of mouth about their positive
experiences to others. Therefore, Sri Lanka as a fast growing tourism destination
needs taking immediate actions to have a proper garbage management system in
order to reduce the visual population of the tourists in order to improve their
satisfaction.
Keywords: Destination management; Environment quality; Tourists satisfaction
119
The Relationship between Operational Efficiency and Service

Quality of Restaurants with Reference to Waters Edge
N. A. P. Priyakeerthi1 & W. K. A. C. Gnanapala2
Department of Tourism Management, Faculty of Mangement Studies
Operational efficiency and service quality are regarded as important components in

business practices. Service quality in the tourism and hospitality industry is
considered as the core of the business because the success of the tourism and
hospitality industry depends on the level of service quality and delivery. The higher
operational efficiency provides competitive advantages that are critical to the success
of the service oriented business, However, the researcher has observed that the
operational efficiency of the employees are lacking in the restaurant operations.
Therefore, the objective of this study is to identify the relationship between the
operational efficiency and the service quality of the restaurant. The study was
conducted as a case study at Pranzo restaurant of Waters Edge. A questionnaire
survey was conducted as the primary data collection technique and the entire
population of the restaurant, 50 employees, were considered as the sample of the
study. This study propose that an operational efficiency of the restaurant is depending
on seven dimensions such as customer orientation, management support, quality of
work environment, employee engagement, job satisfaction, organizational citizenship
behavior and turnover intention which are independent variables while the service
quality is the dependent variable. Mainly, the correlations and regression analysis
were employed to analyze the collected data and the result indicates that there is a
strong, positive relationship between the operational efficiency dimensions and the
service quality of the restaurant. Finally, it is concluded that the service quality of the
restaurant can be increased by improving the operational efficiency as there is a high
positive correlation between dependent and independent variables. The findings can
be used by the restaurants industry to take management decisions related to
operational processes and service quality.
Keywords: Customer Satisfaction; Operational Efficiency; Restaurants Industry;
Service Quality
120
A Study of Guests Motivation to Select Ayurvedic Hotels in Sri

Lanka: A Case Study of Baberyn Beach Hotel, Weligama
M. H. D. Madurangi1 & C. N. R. Wijesundara2

Department of Front Office, Baberyn Beach Hotel, Weligama, Sri Lanka1
Department of Tourism Management Faculty of Management Studies, Sabaragamuwa
University of Sri Lanka, Belihuloya, Sri Lanka2
namalsusl@yahoo.com2
The concept of Ayurveda hotels and their rapid expansion in island- wide has been
noticed by the industry and academics for several years after re-establishing the peace
& harmony inside the country in 2009. Even though the demand has increased, it has
not been investigated why tourists are demanding the Ayurveda hotels in Sri Lankan
context. Therefore, the objective of this study is to examine the pull motivational
factors that affect tourists decision in their choice of Ayurvedic tourist hotels in Sri
Lanka. The study has employed a mix-method where both quantitative and qualitative
techniques such as questionnaire survey & interviews were utilized for data gathering.
The mean ranking & descriptive statements were utilized for the data analysis. The
findings demonstrate that Authentic Ayurveda treatments are the most compelling
pull motivation forces followed by Sri Lankan Hospitality, Exotic Atmosphere, and
Authentic Sri Lankan culture, Value for money & Safety & security. The results of
this study may offer useful information regarding guests pull motivation factors
which could benefit hotel managers in designing marketing strategies such as
targeting, packaging, and advertisement.
Keywords: Ayurvedic hotels; Pull factors; Sri Lanka; Tourists motivations
121
10th & 11th August 2016 Sabaragamuwa University of Sri Lanka

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1stIntradisciplinary Conference of Management Researchers

Innovation, Integration and Inspiration towards Sustainable Future

Proceeding of the 1ST Intradisciplinary Confe

10th 12th August 2016

Conference Committee of the 1st ICMR

Proceedings of the 1st Intradisciplinary Conference of Management

The material contained in this publication has been provided by authors of

The correct bibliographic citation for this publication is as follows: Faculty of

Copyright 2016 by the Faculty of Management Studies, Sabaragamuwa

The 1st Intradisciplinary Conference of Management Researchers (1st ICMR

Dr. M. S. M. Aslam, (Editor in Chief/ Chair) Department of Tourism Management

Mr. D. Jasinghe Sabaragamuwa University of Sri Lanka

Compiling and Formatting

E-Documentation and Web Administration

Towards a Sustainable Future: Managerial Reflections 1

MOOC: A Sustaining or Disruptive Innovation in Higher Education? 13

Accountancy & Finance

Test of Uncovered Interest Rate Parity for Sri Lanka:Evidence from 15

Analysis of Dynamic Linkage of Stock Returns and Exchange Rates: 16

Relationship between Financial Literacy and Financial Behavior of 17

Effect of Institutional Excellence on Stock Market Development 18

An Analysis of Capital Structure of Firms and Anomalies that Persist in 19

Technical Efficiency of Small Scale Vegetable Growers in Sri Lanka: A 21

A Review on Triple Bottom Line Optimization for Sustainability in Supply 23

The Impact of ISFTA on Exporters in Sri Lanka 24

Information Content of Right Issue Announcements and Information 25

Foreign Direct Investment and Endogenous Growth: Evidence from 26

Capital Structure and Financial Performance: Evidence from a Leading 27

Effect of Audit Committee Characteristics on Real Activities 28

Influence of Macro-Economic Variables on Foreign and Local Trading 29

Relationship between Risk and Return in Colombo Stock Exchange: A 30

Effect of Corporate Social Responsibility on Financial Performance with 31

Effect of Financial Development on Economic Growth: 32

Banking and Insurance

Factors Affecting on Cross Selling of Dwelling House and Personal 34

Effect of Job Satisfaction and Job Stress on Perceived Job Performance of 35

R. S. Hewage & A. A. M. D. Amarasinghe

Awareness of Insurance among the Students of the Faculty of 36

Popularity of Micro-insurance Mechanisms and the Poverty of Labourers 37

Farmers Perception, Awareness and Influential Factors towards 39

Determinants of Retention of Insurance Agents in Life Insurance 40

Determinants of Insurance Policy Lapsation: A Case Study in AIA 41

Utilization of Media Mix for Life Insurance Industry in Sri Lanka 42

Technology Adoptability of Insurance Agents: A Case Study in Asian 43

Influence of Bank Interest Rate on the Buying Behaviour of Life 44

Perception of Insurance Professionals on Government Intervention for 45

Financial Literacy and Success of Micro Business: Evidence from Small 46

Factors Determining the User Acceptance of Mobile Banking: with 47

Bank Interest Rate Reduction and its Impact on Channelling of Funds in 48

A .M.M .P. K. Alweera

Factors Affecting on Awareness of Credit Information Bureau of the 49

A Study on the Factors Affecting to Use E-Learning Systems by Banking 50

Factors Influencing the Adoption of Internet Banking: A Case of 51

Factors Affecting the Employee Motivation: A Case Study in Bank of 52

Factors Influencing the Job Satisfaction of Banking Sectors Employees: A 53

Impact of Big Five Personality Traits on Employee Job Involvement in 55

A Study on the Impact of Fair Treatment and Working Environment on 56

Impact of Work-Family Life Balance on Employee Job Engagement at 57

Impact of Personality Traits on Work-Life Balance: Empirical Evidence 58

A Study on Comparison of the Impact of Personality Traits on 59

Impact of Big Five Personality Traits on Employees Work-to-Family 60

The Impact of Personality Traits on Sales Performance: 61

Impact of Big Five Personality Traits on Employees's Normative 62

How Personality of Employees Affect Occupational Stress? 63