Research Papers - Dept of Business

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Open Access
Accounting Education towards Sustainable Labour Markets in Sri Lanka
(researchgate.net, 2021-01-11) Perera, K. A. J. O; Perera, U. L. N. L; Guruge, N. H. G; Subashini, S; Madhavika, W. D. N; Weerarathna, R. S
The quality of Accounting Education determines the quality of Professionals in the field of Accounting. During last few decades with the effect of globalization, many technological advancements occurred in every industry. It directly affects the job profile of sustainable labor market of Accounting field where work becomes challenging and complex to achieve. Babike [1] proved that as Accounting Academics have become more important in the re-contextualization of the new global. The purpose of this article is to identify which qualifications are preferred by the employers out of Professional Accounting Qualification and Academic Accounting Qualification in Sri Lankan sustainable labor market. The present study adopted interpretation in philosophy and the inductive approach. The data collection was based on primary data and was collected through online interview method. Researchers selected convenience sampling method since more than 80% of listed companies in Colombo Stock Exchange are in Western Province. Based on the convenience sampling technique researchers have selected ten listed companies and interview ten Finance Managers in respective companies. Thematic Analysis technique was used to analyze the data by using the NVivo software application. The findings of the present study suggest that many employers prefer Professional Accounting Qualifications rather than Academic Accounting Qualifications. The main reason for the choice is candidates with Professional Accounting Qualifications are more capable in handling tasks and the assigned job role due to the training offered through Professional Accounting Qualification when compared to Academic Accounting Qualifications. As an implication the respected authorities in Sri Lankan educational sector can implement Accounting trainings component for Academic Accounting Education. This may also be useful to future researchers to identify the perceptions of the employers.
Open Access
Accounting Education towards Sustainable Labour Markets in Sri Lanka
(researchgate.net, 2021-01-11) Perera, K. A. J. O; Perera, U. L. N. L; Guruge, N. H. G; Subashini, S; Madhavika, W. D. N; Weerarathna, R. S
The quality of Accounting Education determines the quality of Professionals in the field of Accounting. During last few decades with the effect of globalization, many technological advancements occurred in every industry. It directly affects the job profile of sustainable labor market of Accounting field where work becomes challenging and complex to achieve. Babike [1] proved that as Accounting Academics have become more important in the re-contextualization of the new global. The purpose of this article is to identify which qualifications are preferred by the employers out of Professional Accounting Qualification and Academic Accounting Qualification in Sri Lankan sustainable labor market. The present study adopted interpretation in philosophy and the inductive approach. The data collection was based on primary data and was collected through online interview method. Researchers selected convenience sampling method since more than 80% of listed companies in Colombo Stock Exchange are in Western Province. Based on the convenience sampling technique researchers have selected ten listed companies and interview ten Finance Managers in respective companies. Thematic Analysis technique was used to analyze the data by using the NVivo software application. The findings of the present study suggest that many employers prefer Professional Accounting Qualifications rather than Academic Accounting Qualifications. The main reason for the choice is candidates with Professional Accounting Qualifications are more capable in handling tasks and the assigned job role due to the training offered through Professional Accounting Qualification when compared to Academic Accounting Qualifications. As an implication the respected authorities in Sri Lankan educational sector can implement Accounting trainings component for Academic Accounting Education. This may also be useful to future researchers to identify the perceptions of the employers
Open Access
An Analysis of Major Factors Affecting Labor Turnover in the Apparel Industry in Sri Lanka: Policy Alternations for Solving the Problem
(Human Resource Management Academic Research Society, 2018-09-29) Rajapakshe, W
The objective of this study is to investigate and analyze factors, which affect the labor turnover in the apparel industry in Sri Lanka and policy alternations for solving the problem. Population of this study is employees who are currently working in the apparel industry in Sri Lanka. Data was collecting through the questionnaire. The Cronbach's α value of the variables are in the range of 0.75 to 0.93. To test the hypotheses the structural equation modeling approach (SEM) was applied. According to the literature review thirteen research hypotheses were formulated and out of these nine hypotheses were accepted. Given the findings, employees’ turnover in the apparel industry is determined by living and social condition, personal characteristics and HRM activities. Among these three variables HRM activities has highest effect on turnover. The impact is moderating with job satisfaction and absenteeism. Hence, apparel industry should heavily focus on the HRM activities. This study suggests that the policy makers of this country should improve the existing laws and regulations regarding basic human rights, Recruitment and selection procedure, career planning and development, motivation, early socialization, labor administration, retirement benefits, and welfare of workers and legislation
Open Access
Analysis on Current and Future Training Needs in Health Sector of Sri Lanka
(SRAC - Romanian Society for Quality, 2022-08) Rajapakshe, W; Weerarathna, R. S; Pathirana, G.Y; Malage, M. H
Sri Lanka holds a unique position in South Asia as one of the developing nations to provide universal health. Government spending on welfare mainly involves compromising or constraining a country's development budget. It requires sound management strategies to utilize limited resources, including the human resource of the health sector. Training and development of health professionals can be identified as a critical component in strengthening the quality of health services. Fewer studies exist on Training Needs Analysis (TNA) on health professionals in Sri Lanka, and this study assessed the Training Needs of Sri Lanka's healthcare professionals. This is a cross-sectional study collecting data from 240 health sector professionals in Sri Lanka. The Hennessey Hicks Training Need questionnaire was used to obtain data. Data from the source was analysed through the oneway ANOVA to compare the training needs of various professional groups, and the Word Cloud Online tool was applied to analyse the open-ended questions. The study identifies published research evaluation, communicates with patients, identifies viable research, introduces new ideas, prioritizing works, assessing patients' needs, using technology, undertaking health promotion activities, collecting research information, and undertaking administrative duties as current training needs. While computer literacy training, training on new medical equipment, awareness programs on workplace stress-reducing, training on quality assurance certifications like ISO, programs on effectively communicating with patients, management training, and language training were identified as future training needs of professionals in the health sector. The study concluded that, continuous training programs as the preferred approach to access the performance gap. It also demonstrates that this awareness of information regarding the training needs is beneficial for the health sector policymakers, managers, employees, and the community. Having a better understanding of their job roles, performance needs, and involvement in the decision-making process is likely to motivate healthcare sector employees to improve service quality. These benefits will be reflected in positive outcomes on service quality, improving the overall healthcare system in the country.
Open Access
Analysis on Future Training Needs in Health Sector of Sri Lanka
(SRAC - Romanian Society for Quality, 2022-08) Weerarathna, R; Rajapakshe, W; Pathirana, G. Y; Malage, M. H
Sri Lanka holds a unique position in South Asia as one of the developing nations to provide universal health. Government spending on welfare mainly involves compromising or constraining a country's development budget. It requires sound management strategies to utilize limited resources, including the human resource of the health sector. Training and development of health professionals can be identified as a critical component in strengthening the quality of health services. Fewer studies exist on Training Needs Analysis (TNA) on health professionals in Sri Lanka, and this study assessed the Training Needs of Sri Lanka's healthcare professionals. This is a cross-sectional study collecting data from 240 health sector professionals in Sri Lanka. The Hennessey Hicks Training Need questionnaire was used to obtain data. Data from the source was analysed through the one-way ANOVA to compare the training needs of various professional groups, and the Word Cloud Online tool was applied to analyse the open-ended questions. The study identifies published research evaluation, communicates with patients, identifies viable research, introduces new ideas, prioritizing works, assessing patients' needs, using technology, undertaking health promotion activities, collecting research information, and undertaking administrative duties as current training needs. While computer literacy training, training on new medical equipment, awareness programs on workplace stress-reducing, training on quality assurance certifications like ISO, programs on effectively communicating with patients, management training, and language training were identified as future training needs of professionals in the health sector. The study concluded that, continuous training programs as the preferred approach to access the performance gap. It also demonstrates that this awareness of information regarding the training needs is beneficial for the health sector policymakers, managers, employees, and the community. Having a better understanding of their job roles, performance needs, and involvement in the decision-making process is likely to motivate healthcare sector employees to improve service quality. These benefits will be reflected in positive outcomes on service quality, improving the overall healthcare system in the country.
Open Access
Analyzing relationships between rainfall and paddy harvest using artificial neural network (ANN) approach: case studies from North-western and North-central provinces, Sri Lanka
(The Faculty of Agricultural Sciences of the Sabaragamuwa University of Sri Lanka, 2022-01-04) Ranasinghe, T; Rathnayake, U. S; Gunawardena, G; Wimalasiri, E. M
Purpose: Food and agriculture are frequently affected from on-going climate change. A significant percentage of annual harvest is lost due to extreme climatic conditions in different parts of the world. Sri Lanka is considered as a country which is vulnerable to climate change. Therefore, this research presents a detailed analysis to find out the non-linear relationships between the rainfall and paddy harvest in two major provinces of Sri Lanka. Research Method: North-central and North-western provinces as two major agricultural areas were selected for the study. Rainfall trends were identified using non-parametric Mann-Kendall and Sen’s slope estimator tests. The artificial neural network (ANN) approach was used to establish non-linear relationships between rainfall and paddy yield. Findings: There was no significant (p > 0.05) linear correlation between rainfall amount and the rainfed paddy yield in tested locations. However, no clear relationship between the rainfall and rain fed yield were found in the 14 predefined functions (polynomial, logarithmic, exponential and trigonometric) derived using ANN where the calculated coefficients of determination were less than 0.3. Research Limitations: Due to lack of other climate variables such as temperatures, a significant relationship was not observed in this study. Originality/value: We have shown that non-linear artificial neural network approach can be used to study the impact of climate on agricultural production in Sri Lanka.
Embargo
Analyzing the Influence of Current Situation in the Country for Vegetable Prices using LDA Topic Modeling
(2020 2nd International Conference on Advancements in Computing (ICAC), SLIIT, 2021-12-10) Kumara, B.T.G.S.; Illankoon, I.M.G.L.
The price fluctuation of vegetables is one of the economic problems faced by every country, including Sri Lanka. Many factors such as environmental conditions as well as supply, demand, social, cultural, and political situations of the country cause the price of vegetables to fluctuate. Nowadays, social media represents public opinion about current events. Twitter has become one of the fastest social media platforms for getting the latest and historical news and it can be used to track historical trends in different fields. In this paper, we applied the Latent Dirichlet Allocation (LDA) topic modeling algorithm to determine the topics of the tweets about Sri Lanka when the prices of vegetables were very high and low. Through a manual analysis of extracted topics, we identified the situation in the country during a selected period and how it has impacted the vegetable prices. According to the results, vegetable prices are on the rise during the festive season in Sri Lanka. It also appears that political factors, such as elections, do not have a major impact on vegetable prices. It seems that vegetable prices have gone up during the unstable or chaotic periods in Sri Lanka.
Embargo
Arunalu: Learning Ecosystem to Overcome Sinhala Reading Weakness due to Dyslexia
(2020 2nd International Conference on Advancements in Computing (ICAC), SLIIT, 2020-12-10) Sandathara, L.; Tissera, S.; Sathsarani, R.; Hapuarachchi, H.; Thelijjagoda, S.
Dyslexia is an impairment in ability in reading. People having Dyslexia has difficulties in identifying specific letters and words and identifying speech sounds and decoding the letters which leads to difficulties in comprehension, spelling and writing. Dyslexia may severely affects language development and impacts reading and other language based improvement and functioning. “ARUNALU: Learning ecosystem to overcome reading disabilities in Sinhala language due to Dyslexia” has been proposed as a multi-sensory mobile solution, in native language of Sri Lanka (Sinhala) and with effective screening and intervention methodologies recommended by health professionals. Objective is to deliver, a phonological support to enhance reading skills of dyslexic children by providing a machine learning based automated screening and intervention mobile solution. Through these reading environments, there's a reward system in intervention process to encourage the user, and also users and respective parties can analyze user's progress. The proposed system is mainly based on Voice recognition, Natural Language Processing, Machine Learning and Deep Learning concepts collaborating with reading and gaming environments. Core Objective of the proposed system is to come up with a better and effective screening and intervention methodologies for early identification of Dyslexia and provide phonological training to overcome Sinhala reading difficulties due to Dyslexia in a user friendly manner.
Embargo
Assessment of shop house enterprises in the Bangkok metropolitan area in view of environmental and health aspects
(Elsevier, 2014-04-01) Potipituk, C; Perera, R
This study aims to assess environmental and health impacts created by shop house enterprises and to identify the factors contributing to those impacts. The work was carried out in Bangkok, Thailand. This study used questionnaire surveys, interviews, and data collection. Responses were obtained from two different groups of stakeholders. First, the perceptions of owners and workers in shop house enterprises of their environmental management practices were determined. A second group of stakeholders consisting of affected community members, customers and relevant decision makers was queried to determine their perceptions of environmental performance of shop house enterprises. Using this strategy, perceived environmental conditions were determined by stakeholders and supported with actual measurement in air and noise pollution generated by shop house enterprises. The study results show that activities of shop house enterprise are perceived to generate adverse environmental and health impacts at various levels. The magnitude of each of these impacts suggests the priority at which policy interventions are needed to address these factors. We conclude that public policy to reduce environmental and health impacts should be done concurrently with efforts to mitigate factors contributing to environmental and health impacts generated by shop house enterprises. The effectiveness of existing environmental management measures for shop house enterprises by a decentralized administrative system requires further examination. It will be necessary to revisit existing environmental management practices for enterprises engaging in high risk activities.
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Asset pricing and downside risk in the Australian share market
(Routledge, 2017-09-14) Alles, L. A; Murray, L
As downside risk has been identified as a separate risk exposure to investors, we investigate whether downside beta and co-skewness exposure impact on the return to investors in Australian equities. Although considered as a developed market, the Australian Securities Exchange merits separate investigation, as it is small and concentrated on some sectors, when compared with the major developed markets. As realized returns are a proxy for expected returns, we separately examine conditional returns in upturn and downturn periods. We find that both downside risks are separately priced by investors, and that our results are unaffected by the inclusion of a range of company characteristics. We subsequently confirm that returns to each downside risk are not related. In robustness tests, we conclude that the return to downside risk cannot be explained by a size, a value, or a momentum premium. Although it also has explanatory power, the inclusion of a leverage factor also does not reduce the explanatory power of downside risk.
Open Access
Asset Securitization and Structured Financing Future Prospects and Challenges for Countries in Emerging Markets
(International Monetary Fund, 2001-09-01) Alles, L. A
This article examines the issues and challenges involved for institutions, policy makers, and law-makers in less developed countries in their efforts to implement asset securitization techniques in their financial markets. Challenges and issues in the areas of market development, legislation, accounting, regulation and structuring are examined in the light of recent developments in securitization techniques.
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Asset Securitization and Structured Financing Future Prospects and Challenges for Emerging Market Countries
(IMF working paper, 2006-01-31) Alles, L. A
This article examines the issues and challenges involved for institutions, policy makers, and law-makers in less developed countries in their efforts to implement asset securitization techniques in their financial markets. Challenges and issues in the areas of market development, legislation, accounting, regulation and structuring are examined in the light of recent developments in securitization techniques.
Open Access
Awareness Level of Workers to Labour Laws in Sri Lanka
(2019-01-24) Rajapakshe, W
This study focuses on assessing the apparel sector employees’ level of awareness on labour laws who are working in the Free Trade Zones in Sri Lanka. The research was based on seven Labour Acts in Sri Lanka; Employees Provident Fund Act No.15 of 1958, Employees Trust Fund Act No.46 of 1980, Payment of Gratuity Act No. 12 of 1983, Industrial Dispute Act No.27 of 1966, Maternity Benefits Ordinance No.32 of 1939, Factories Ordinance No.45 of 1942, and Wages Board Ordinance No.27 of 1941. Data collection done through a worker questionnaire and out of 200 sample 158 were respondent. The garment factories were selected by the convenient sampling method and respondents were selected through simple random sampling method. Data analysis done through descriptive statistics and one way Analysis of Variance (ANOVA). The results show that gender and level of experience has not make a significance different among particular group of employees. However, education and age has a significant impact on the awareness of employees on labour laws. Moreover, the Factories Ordinance showed the rate of the most wakefulness while the Maternity Benefits Ordinance showed the least awareness.
Open Access
Beyond compensation: effect of employee benefits on job motivation, performance, and turnover intention
(Cogent OA, 2025-12-31) Peemanee, J; Weerarathna, R; Issarapaibool, A; Boonlua, S; Rathnayake, N
This study investigates the influence of employee benefits on motivation, performance, and turnover intention within contemporary workplaces that increasingly emphasize employee well-being. Addressing a key gap in the literature, it employs Structural Equation Modeling (SEM) and analyzes data from 387 Generation Y and Generation Z employees in Small and Medium Enterprises (SMEs) in Thailand. The analysis examines how diverse benefit types influence employees’ motivation, performance, and decisions to remain with their organizations. The findings reveal a direct and positive link between employee benefits, enhanced motivation, and improved performance, which together significantly reduce turnover intention. Specifically, attraction and retention strategies, organizational support mechanisms, and a growth-oriented, well-being-focused environment emerged as critical factors in motivating employees and elevating their performance. Overall, the study demonstrates that strategically designed employee benefit packages—aligned with employee needs and workplace realities—foster engagement, productivity, and loyalty. This study contributes valuable insights for organizational leaders seeking to refine benefit systems and extends the academic understanding of the strategic importance of non-monetary benefits in promoting employee satisfaction and retention.
Open Access
Business Performance of Boutique Hotels after Easter Sunday Attacks in Western and Southern Province in Sri Lanka
(researchgate.net, 2022-05) Weerarathna, R. S; Jayasinghe, S. J. A. N. S; Ellepola, K. R. W. M. R. T. K; Balasuriya, N. N. M; Uddeepa, K. W. G. E; Kanumale, S. N. M. U. I; Somawardana, W. S. D
The tourism sector of Sri Lanka had rapid growth and was identified as the largest source of income in Sri Lanka. Easter attack, which took place in April 2019, resulted in a severe hit to the boutique hotels in Sri Lanka. The purpose of conducting this study was to identify how boutique hotels in Sri Lanka are working to regain their business performance after the Easter Sunday attack. The data for this research were assembled employing a strategy of qualitative data. Data were collected through twelve face-to-face semi-structured interviews and analysed based on content analysis by using Word cloud. Many employees in the tourism sector have lost their jobs due to this attack. The majority of the owners stated that now they are focusing more on local customers instead of foreigners. Owners use social media platforms and special discount packages (credit card and visa card discounts) to attract local customers. Banks and financial institutions have offered some loan schemes for hotels to regain their performance. The outcomes will offer assistance for the individuals who are predominantly or indirectly related to the boutique hotels of the tourism industry in Sri Lanka. In addition to that, this research will assist proper understanding about if the hoteliers have to face crises like the Easter Sunday attack again how they manage their business performances by using considerable factors of boutique hotels in Sri Lanka. Since the revenue generated from the tourism industry is more important to the Sri Lankan economy, the respected authorities can focus more on the boutique hotel sector and make arrangements to re-establish the lost revenues in the Sri Lankan economy. The main limitation was that only two provinces were taken, which would not be adequate to give an overall representation of all the population. Therefore, it is recommended for future researchers to increase the sample size and focus on more provinces/areas when doing further research on this topic
Open Access
CAPM and Risk in the Australian Regulatory Context
(SSRN, 2002-09-01) Alles, L. A; Johnson, N. W; Kenyon, P
As one component in the determination of price caps for access to regulated gas pipelines under the National Access Code for Natural Gas Pipeline Systems (which is given legal effect through relevant State legislation), regulators utilise the CAPM to determine a 'reasonable' rate of return on the capital employed by the pipeline owner in the provision of gas transport services. A key issue in the use of CAPM in this manner is the determination of beta, the coefficient measuring systematic risk in the CAPM. Pipelines are not commonly traded in Australia, and hence market betas cannot be readily calculated from market data. This necessitates estimation of beta by other means. The methods used in practice is essentially a combination of comparisons with like pipelines which are traded (usually in the US or UK) combined with what can best be described as guesswork to incorporate differences between these pipelines and the pipelines being regulated. This process is less than rigorous and subject to rent-seeking behaviour by pipeline owners. This paper considers risk from the perspective of first principles, and derives a methodology for determining beta in the Australian regulatory context based upon a theoretical consideration of diversification choices of individuals.
Open Access
A Conceptual Framework for the Association between Relationship Conflicts and Employees’ Intention to Leave
(Canadian Center of Science and Education, 2018) Weerarathna, R. S; Perera, S
The main objective of this research paper to conceptualize a model to test the association between relationship conflicts and employees’ intention to leave with the support of past theories and research findings. This research paper contains the definitions for variables related to relationship conflicts and employees’ intention to leave from the organization and also it explains models which explain the interconnections among two variables. The conceptualization of this research includes a logically developed model that leads to identify the relationships between the independent variable and dependent variable. The proposed model suggested that there is an association between relationship conflicts and employees’ intention to leave.
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Conquerors of poverty – a case study of Colombo slum dwellers
(Emerald Publishing, 2025-02-07) Nanayakkara Wasam Mudage, K; Weerasinghe, N; Madusanka, M; Saliya, C.A; Lokeshwara, A. A; Jayatissa, C. D
Purpose: While extensive research has explored poverty in various dimensions, there remains a notable dearth of studies focusing on success stories of slum dwellers overcoming adversity. This research seeks to address this gap by investigating the strategies employed by individuals to transcend poverty. Moreover, it evaluates the practicality and effectiveness of existing theories in real-world contexts through careful interpretation. Design/methodology/approach: Data were gathered from two distinct cases through comprehensive, in-depth interviews. These narratives were subjected to scrutiny employing the Description Analysis Interpretation method. Subsequent interpretation and theoretical exploration were guided by Bourdieu’s class theory. The overarching goal was to shed light on the remarkable journeys of specific slum residents who surpassed the constraints of poverty. This endeavor not only highlighted the practical efficacy of these theories but also underscored their relevance in illuminating real-world scenarios through interpretation. Findings: The findings underscore the capacity of slum dwellers to rise above poverty, thereby emphasizing the practical utility of specific theories aimed at poverty alleviation in elucidating their experiences. Notably, social capital, a cornerstone of Bourdieu’s class theory, emerges as equally pivotal as economic capital in shaping individuals' trajectories. Research limitations/implications: The study’s scope is confined to narratives within the Colombo slums, offering a platform for future researchers to extend their investigations beyond this context. By employing alternative methodologies and exploring diverse geographical regions, scholars can broaden their understanding of poverty alleviation strategies and their applicability across varied socioeconomic landscapes. This calls for wider research for comprehensive exploration and comprehension of poverty dynamics beyond singular locales. Practical implications: The study provides invaluable insights for policymakers, governmental bodies and nongovernmental organizations, urging them to reconsider and reformulate policies, educational strategies and community development programs tailored to the needs of slum dwellers and their children. These insights offer a pathway toward more effective interventions aimed at fostering sustainable upliftment within these marginalized communities. Originality/value: This research fills a critical gap in poverty literature by exploring success stories of slum dwellers overcoming adversity, an area often overlooked. It uniquely investigates the strategies these individuals employ to transcend poverty, offering fresh insights into the practical application of poverty alleviation theories. Utilizing Bourdieu’s class theory, the study highlights the importance of both social and economic capital in these success narratives. By focusing on real-life experiences, it underscores the relevance and utility of these theories in real-world contexts, enriching the theoretical discourse and providing valuable perspectives for policymakers and practitioners.Poverty
Open Access
Construction waste management from a gender perspective
(2008-09) Manowong, E; Perera, R
Construction industry generates high volume of waste. The availability of dump sites for construction waste is decreasing and becoming a serious problem. Common waste management strategies such as Reduce, Reuse, Recycle (3Rs) can be provided for construction waste management (CWM). However, in order to be extensively implemented in construction industry, such practices need to be recognized by construction operatives and the general public whose behavior may be influenced by their attitudes and perception. A survey was carried out to investigate current situation of CWM in various regions of Thailand. Attitudes, perceptions, and roles of men and women in the construction-related sectors were analyzed. Recommendations are planners and decision-makers to improve the relevant parties’ perception and attitudes towards CWM policy planning and implementation in the GMS countries.
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Corporate Governance on Capital Structure Decisions: Evidence from Listed Non-financial Companies in Sri Lanka – Quantile Regression Approach
(SLIIT Business School, 2019-12-10) Chathurya, P.A.D.; Perera, D.K.T.S.; Perera, G.K.S.S.; Fernando, W.C.
The main objective of this study is to discuss about how corporate governance has an impact on the capital structure decisions. The focus of this empirical study emphasis on the top 100 market capitalization non-financial companies as at 31st December 2018 in CSE for 2012- 2018-year period. Quantile regression analysis is used to determine the relationship between corporate governance variables such as, CEO duality, Board size, Number of committees, Board balance, and gender diversity on capital structure decisions of the listed non-financial companies. Due to non-normal distribution of data which was identified using higher variance in kurtosis and skewness created a disadvantage of using OLS model which shows the results conditional to the mean. Therefore, quantile regression method was used in order to determine the above mentioned objective in an accurate manner. The results indicate that, gender diversity has significant negative relationship and board committees have statistically significant positive relationship to different levels of capital structure. Board size, board balance, CEO duality, doesn’t have significant impact on different levels of capital structure decisions. The interpretation of the results and the reasons for such variations were identified.