Browsing by Author "Nagendrakumar, N"

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Open Access
Applicability of Sri Lanka public sector accounting standards: Trincomalee urban council, Sri Lanka
(Faculty of Management and Commerce, South Eastern University of Sri Lanka., 2015-10) Nagendrakumar, N
Though the Sri Lankan Local Governments were introduced with the accrual based Public Sector Accounting Standards from 2009 they have not been implemented yet. As a result, the present study focuses why it has been a failure and sees the applicability of the standards to the Local Governmental set up in Sri Lanka. The Urban Council of Trincomalee city was selected as the case for study and semi structured interviews were conducted. The study concludes that since the accounting system (Wickramanayake’s accounting system) already in place was based on accrual principles, the application of accrual based accounting standards are possible provided that the staffs’ professional expertise is improved to the level expected
Open Access
Conceptual Study on Isomorphism and Stagnation of Employment Opportunities for Female Labor Force in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021-10-15) Nagendrakumar, N; Madhavika, W. D. N; Nimeshika, D. K. M. S; Bulathsinhala, D. S. M; Kalhara, H. L. R; Rodney, R
Female unemployment is one among the major issues that stifle the development potential of economies, as it slacks off the potential skills, knowledge, and competencies of female job anticipants without being utilized productively. Authors’ intension through the study is to develop a conceptual model in order to assess the continuing problem of female unemployment of Sri Lanka. The value is comparatively high to that of males despite the country’s initiatives towards equal access for health, education and other regulations to promote equal opportunities for all citizens. The identified research gap has been addressed using Institutional Isomorphism - A concept at the core of the Institutional Theory. Institutional Isomorphism explains the phenomena of organizational homogeneity created through three distinctive mechanisms - coercive, normative, and mimetic isomorphism and its subsequent effect on female unemployment is presented in a theoretical framework at the end of the study. Apparently, the study makes a theoretical implication as accommodation of Institutional Isomorphism to assess a research problem of this variety is done for the first time both locally and internationally. The study has socio-cultural and economic impacts as the proposed conceptual model would aid potential researchers to address the problem of female unemployment through a novel facet with the anticipation of revealing broader factors and forces that constrain the employability of females and suggest feasible solutions to overcome the above.
Open Access
Conceptual Study on Socio-Economic Impact of the Decline in Firm Performances of Hotels in Sri Lanka
(Macrothink Institute, 2020-12-03) Nagendrakumar, N; Lokeshwara, A. A; Jayasuriya, K. R. G. T; Ravisara, K. R. G. T; Weerawickrama, M. J; Madushan, M. G. D
The study aims to determine the socio-economic impact of the decline in firm performances of hotels in Sri Lanka. Evidence from previous research found that 91% of the hotels listed in the Colombo Stock Exchange (CSE) were in the distress zone and this study aims to fill the prevailing knowledge gap by determining the socio-economic impact of this decline. The study will be conducted using a sample of 33 hotels listed under the consumer services sector of the CSE, by considering the firm performance as the independent variable while the dependent variable is the socio-economic impact. The firm size was considered as the moderating variable. Indicators such as Return on Equity (ROE), Return on Assets (ROA) and occupancy rate derived from annual reports and other publications was used to measure firm performance while several indicators derived from statistical reports published by the Sri Lanka Tourism Development Authority (SLTDA) and Central Bank will be used to measure socio-economic impact. The research will be conducted during a period of 10 years from 2009 to 2019. Findings from the research will contribute to the existing literature on the assessment of socio-economic impacts and are beneficial to a variety of stakeholders such as hotel managers, government, tourist development authorities and upcoming researchers.
Open Access
Country Specific Factors: Public Sector Accounting and Financial Reporting Reforms in Sri Lanka
(researchgate.net, 2018-07) Nagendrakumar, N
New Public Management led the world of the public sector - including Sri Lanka - to switch on to the accrual-based accounting which is referred to as Public Sector Accounting and Financial Reporting reforms. However, it was noted that most of such reform activities have failed. Besides, irrespective of failure recorded Sri Lanka continues with the reform process. This postures the research problem of what factor(s) forces Sri Lanka to endure the reform. As a result, this study in general attempts to hoist the factors that determine the reform and precisely attempts to elevate the country specific factors of the phenomenon in Sri Lankan context based on qualitative methodology employing semi-structured interviews. The data were analyzed using thematic analysis method. The study found that though most of the universal and countryspecific factors are negatively influence the reform in Sri Lanka it is compelled to reform since ‘change of country status’ dictates.
Open Access
The development of public sector accounting and financial reporting in Sri Lanka
(researchgate.net, 2015) Nagendrakumar, N; Fonseka, M; Dissanayake, K
Accrual accounting practices in private sector and cash accounting practices in public sector are unconsciously institutionalized. However, in the recent past the Association of Public Finance Accountants of Sri Lanka, which became the public sector wing of the Institute of Chartered Accountants of Sri Lanka in 2012, has initiated accrual accounting practices to the public sector in the country. Authors, adopting Institutional Theory as theoretical lens and using semistructured interviews, attempt to explain the recent developments in Public Sector Accounting and Financial Reporting Practices in Sri Lanka. The study finds that mimetic practices played a dominant role and the normative and coercive practices seemed poor in making the accrual accounting practices a success in the public entities and further the study concludes that the Public Sector Accrual Accounting Practices are still open to debate and research.
Open Access
Do Institutional Pressures Matter in Development? A case of Introduction of Accrual Accounting Practices to the Public Sector in Sri Lanka
(researchgate.net, 2015-11) Nagendrakumar, N; Fonseka, M; Dissanayake, K
The public sector in Sri Lanka, in the recent past, has taken steps to transform its accounting practices from cash to accrual. This paper tries to answer whether the institutional pressures: Coercive, normative and mimetic had any bearing on such developments in introducing the accrual accounting practices to the public sector in the island. As a result, authors, adopting Institutional Theory as theoretical lens and using semi-structured interviews, attempt to explain how and in what manner the institutional pressures count the development. The study found that the normative pressure was the fundamental and mimetic pressure became the descendant in initiating the accrual accounting practices to the public sector. Further the study found that the coercive pressure lacks in implementing the accrual accounting practices in the public entities.
Open Access
Effectiveness of Financial Accounting and Reporting Practices introduced to Eastern Provincial Council, Sri Lanka
(2014-01-31) Nagendrakumar, N
Sri Lanka in recent years has been introduced changes in public sector financial management. The introduction of accrual basis of accounting to public sector especially in Provincial Councils has created new trends in public financial management. This research is concerned with the effectiveness of public sector accounting and financial reporting in the research domain of Eastern provincial council (EPC). The aim of this research is to understand the financial accounting and reporting practices and to analyze whether they are effective. Descriptive method was used to evaluate the variables. The research concludes that the accounting and financial reporting practices adopted at EPC are not effective.
Open Access
An empirical study of students’ satisfaction with professional accounting education programs, Sri Lanka
(researchgate.net, 2020-07-29) Nadishana, G. S. W. Y; Ameen, Z; Kulatunga, K. A; Perera, A; Perera, C; Madhavika, W. D. N; Nagendrakumar, N
This study aims to analyze the factors affecting students' satisfaction with professional accounting courses offered by Professional Accounting Education Institutions, and then aims to assess the impact of students' satisfaction and students' loyalty towards Professional Accounting Education Institutions in Sri Lanka. It is evident that a significant gap exists between student enrolment and the rate of students’ passing out as professional accountants as per the annual reports of the Institute of Chartered Accountants of Sri Lanka and the Institute of Certified Management Accountants of Sri Lanka (2014-2018). The study adopted a deductive methodology while employing a stratified random sampling technique and distributed 500 questionnaires which had a response rate of 80%. The data was analyzed using structural equation modeling via SPSS and AMOS versions 25. The study concludes that course assessment and institutional image, teaching methods, teaching staff, course organization and infrastructure facilities, and institutional administration and efficiency significantly impact the student satisfaction. And also, it concludes that the students’ satisfaction significantly impacts students’ loyalty. This study add value to the literature by focusing the students’ satisfaction from two extreme angles (i.e., students’ need and loyalty) and introduces a new model which would enhance the appropriate administration of the Professional Accounting Education Institutions
Open Access
AN EMPIRICAL STUDY ON ISOMORPHISM AND STAGNATION OF EMPLOYMENT OPPORTUNITIES FOR FEMALE LABOUR FORCE IN SRI LANKA
(Faculty of Management Studies, Sabaragamuwa University of Sri Lanka, 2021-12-16) Bulathsinhala, D. S. M; Nagendrakumar, N; Madhavika, W. D. N; Nimeshika, D. K. M. S; Kalhara, H. L. R; Rodney, R
The study examines Sri Lanka's persistent problem of high female unemployment among working-age women using the concept of Institutional Isomorphism, a central concept in Institutional Theory that explains the phenomenon of organizational homogeneity created as a means of demonstrating compliance with "Social institutions”. The researcher used survey as its research strategy. The multiple Linear Regression model had been used to test the impact of Institutional Isomorphism created through the three mechanisms – coercive, normative, and mimetic on Sri Lankan female unemployment. The study bridges an empirical and a theoretical gap with Isomorphism being accommodated for the first time both locally and internationally to assess a research problem of this variety. Subsequently, it was revealed that Isomorphism mechanisms pose a significant threat to female employability from the perspective of unemployed females. The study concludes with recommendations based on its findings, including changes to the country's labour legislation, the elimination of harmful socio-cultural legacies in communities, and revisions to industrial practices that require professionals and the government to respond prudently yet firmly to support female employability.
Open Access
Extending the Institutional Theory: Public Sector Accounting and Financial Reporting Perspectives, Sri Lanka
(researchgate.net, 2020-06) Nagendrakumar, N
The purpose of this study is to explain why the accrual accounting practices introduced to Public Entities (PEs) in Sri Lanka has been a failure. To elevate the phenomenon, the study employed institutional theory as a theoretical scope. And also, it espoused the interpretive stance, case study strategy, and theoretical thematic analysis method. The study is significant since it extends the institutional mechanism which is a part of the institutional theory into initial pressure (i.e., pull) and induced pressure (i.e., push). It concludes that the initial pressure (pull) for the reforms existed whereas the induced pressure (push) did not. Also, the second negated the first causing an overall pressure to the public entities insignificant and hence the public sector Accounting and Financial Reporting (PSAFR) Reforms reform failed in Sri Lanka. This study reassures in the PSAFR reform point of view the institutionalization of the institutions has not yet been well explained.
Open Access
The Impact of Sustainability Practices on the Going Concern of the Travel and Tourism Industry: Evidence from Developed and Developing Countries
(MDPI, 2022-12-19) Nagendrakumar, N; Alwis, K. N. N; Eshani, U. A. K; Kaushalya, S. B. U
Sustainability refers to the evaluation and communication of quantitative and qualitative information of the sustainability performance of a business in a balanced way regarding the environment and the society in which it operates. Companies are responsible for stakeholders’ justification and disclosure expenses consisting of dedicated sustainability practices, thereby strengthening the company’s financial performance. However, due to the deficiency of consistent information and a lack of transparency in corporate reporting, tourism industries fail to realize the association between sustainability practices and financial performance. Moreover, there is a lack of literature that deals with the impact of macro-level sustainability factors on firms’ financial performances. Furthermore, linking the going concern concept and sustainable practices with financial performance through the Z-score model is not frequently done in the corporate world. Hence, this paper investigated the impact of macro-level sustainability practices on the going concern ability in developed and developing countries’ tourism industries for the 2016–2020 period, including a sample size of 138 listed companies, through panel data analysis. This study fills the empirical gap by adopting the Altman Z-score to analyze the financial performance related to sustainability practices in terms of environmental, economic, and social dimensions. The empirical results reveal that macro-level sustainability practices significantly impact the going concern from developed and developing countries’ perspectives.
Open Access
An influx of tourist arrivals between Easter attack and covid-19 in Sri Lanka
(researchgate.net, 2021-10-15) Rathnayake, K.R.M.C.S; Nagendrakumar, N; Lokeshwara, A, A; Gunawardana, S.A.D.C.K; Kodikara, U.P; Rajapaksha, R.W.N.H
Sri Lankan tourism industry was subjected to various shock events such as the Easter Sunday attack and the COVID-19 pandemic and this study aims to examine the impact of Easter Sunday attack and the COVID-19 on Tourist Arrivals (TA). Box-Jenkins ARIMA model was used to examine the impact of shock events on TA and was analyzed using STATA. ARIMA (2,1,1) model was used to forecast TA from April 2019 to May 2021 and was compared against the actual in achieving the research aim. The forecasted TA indicated a sudden drop from March 2019 to May 2021, revealing that the two selected shock events’ impact was evidently negative. The study further concludes that Sri Lanka experienced a significant drop in TA following the Easter Sunday attack but recovered gradually; however, the TA has been negatively impacted due to the COVID-19 pandemic, and the impacts may remain for a moderately extensive period.
Open Access
The nexus between innovations and banking performance – during covid-19 pandemic
(researchgate.net, 2021-10) Nagendrakumar, N; Madhavika, W. D. N; Kalpani, L.D. Y; Pushpamali, W. A. Y; Rashmi Nisansala, S. W. M; Madumi Bashini, G. V. M
Sri Lankan tourism industry was subjected to various shock events such as the Easter Sunday attack and the COVID-19 pandemic and this study aims to examine the impact of Easter Sunday attack and the COVID-19 on Tourist Arrivals (TA). Box-Jenkins ARIMA model was used to examine the impact of shock events on TA and was analyzed using STATA. ARIMA (2,1,1) model was used to forecast TA from April 2019 to May 2021 and was compared against the actual in achieving the research aim. The forecasted TA indicated a sudden drop from March 2019 to May 2021, revealing that the two selected shock events’ impact was evidently negative. The study further concludes that Sri Lanka experienced a significant drop in TA following the Easter Sunday attack but recovered gradually; however, the TA has been negatively impacted due to the COVID-19 pandemic, and the impacts may remain for a moderately extensive period.
Open Access
Resource Optimization in Paddy Cultivation, for Developing Countries; A Sector Synergetic Approach
(SSRN, 2021-07) Buddhika, M.S; Madhavika, W.D.N; Nagendrakumar, N; Colombathanthri, P. S. H; Rathnayake, R. M. T; Jayaweera, J. H. M. P. S. B
The misleading fallacy of, higher the chemical fertilizer higher the yield therefore, better the income be. Have triggered in an over usage of chemical fertilizer more than the recommend standard. This has created in a self-pressuring situation among farmers in developing countries. This vulnerability occasionally leads into a decision-making situation where both life and death are seen as viable options. Hence in order to safeguard the farmer, with the aims of educating these disobedient farmers, through the process of validating the existing chemical fertilizer standard. This research was carried forth in Sri Lanka, for the paddy farmer. The data were collected in a data triangulation, where a controlled experiment, two series of interviews and two sets of questioners were utilized. Both, quantitative as well as qualitative data and, primary as well as secondary data were collected. Depending on the nature of the data collection instrument, an experiment, thematic, descriptive and a correlation analysis were performed through statistical software applications. Further, a yield and a soil test was performed for the controlled experiment plots. By adjusting the parameters accordingly, this study could be used as a model by other countries, regions or crops. Finally concluding on a policy implication, to eliminate or reducing the chemical fertilizer over usage in developing countries. Further avenues for a managerial implication where the Balance of Payment could be used to positively stimulating a developing countries Gross Domestic Product to achieve sustainable economic growth in the long run are discussed.
Open Access
Sustainability of Hotels: Evidence from Tourism Industry in Sri Lanka
(The Mattingley Publishing, 2020-05-24) Alahakoon, A. M. Y. U; Nagendrakumar, N; Madhavika, W. D. N; Weerawardhana, K. W. P. T. R; Wishwadeep, D. D. P; Anushani, D. M. S
The present studyexplores the sustainability level of the Sri Lankan hotels in the tourism industry.It wasobserved that the return on equity has been decreasing in the hotel companies though there is an increasing trend in the tourist arrivals in Sri Lanka(Weerasinghe et al., 2019). This unanswered problem raises the questionof whether the hotels in the tourism industry are heading towards bankruptcy. This study used secondary data from the annual reports of 34 listed hotels, which are registered in the Colombo Stock Exchange during the last five years (2015-2019). This study applied the Altman’s original Z score model (1968) which is the most accurate and reliable in forecastingthe sustainability of the firms by using ratio analysis method. The finding of the study reveals that 91% of the hotels are in the distress zone, 9% safe zone and none in the gray zone. The present study is significant since it shedsthe light, through the empirical evidence on the scary financial environment, which signals the hotels in the tourism industry in Sri Lanka,about the doubt of going concern
Open Access
Sustainable Supply Chains of Sri Lankan Manufacturing Organizations: A Study on Operational Excellence Models During the COVID-19 Pandemic
(researchgate.net, 2022) Nagendrakumar, N; Malsinghe, M.T.D; Gunathilaka, M.H.A; Bandara, I.P.C.D; Wijerathne, A.I; Madhavika, W.D.N
This paper presents an investigation on operational excellence (OpX) models of sustainable supply chains (SSCs) in Sri Lankan manufacturing organizations during Covid-19 pandemic. This investigation consists of multiple case studies of Sri Lankan manufacturing organizations in following industries: rubber and plastic products, wearing apparels, paper and paper products. Based on a pre-existing OpX model, six Critical Success Factors (CSFs) were identified in terms of SSCs. This research was conducted as an exploratory case study where data is collected through in-depth interviews, company websites/reports. By using a deductive approach, findings of CSFs effecting behaviour of OpX models are displayed. Thematic and Content analysis on the behavior of OpX models in SSCs are non-generalizable beyond this research. The findings display the organization in respect to wearing apparels has a more sustainable approach to better manage their OpX model and more strategic Upper Echelons to gain better strategic outcomes before/during Covid-19 pandemic. The profile of a manager was vital in interpreting OpX models in their organizations. The study outcomes can inform organizations to prime their OpX model for a crisis of Covid-19 magnitude. The effects may be generalized further to other industries. The study describes connectivity of Upper Echelons Theory to OpX models and contributes to literature through a demonstration of CSF behaviours in OpX models of SSCs during the Covid-19 crisis.
Open Access
Testing the Validity of Purchasing Power Parity: A Comparison of Sri Lanka and Pakistan
(SSRN, 2021-05) Nagendrakumar, N; Madhavika, W. D. N; Abusaly, H; Nawarathna, N. M. D; Yohan, H. P. Y. S; Attanayaka, L. G; Fernando, D
This study investigates the strong and the weak relationship between macroeconomic variables and the purchasing power parity of Sri Lanka and Pakistan. Purchasing power parity is compared with the relative price level of identical product available in both countries. This paper includes 20 years of macroeconomic annual data from 1997 to 2016. These data have been analyzed using descriptive statistic, reliability test and time series multiple regression. Result reveals that real exchange rate is not constant in both economies of Sri Lanka and Pakistan, and this illustrates Sri Lanka has weak relationship between the purchasing power parity and exchange rate, inflation, interest rate, money supply, gross domestic product, foreign direct investment, whereas Pakistan has strong relationship between the selected macroeconomic variables and the purchasing power parity. This study helps enhance knowledge about how purchasing power parity affects the growth of the economies