Research Papers - Dept of Business
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Publication Open Access Does financial literacy matter for firms? An empirical investigation on Sri Lankan SMEs(PloS one, 2026-07-21) Arachchi, G. K; Perera, I; Gamage, C; Wijesinghe, S; Wisenthige, K; Dayapathirana, NSmall and Medium Enterprises (SMEs) are vital to economic growth and job creation, especially in developing countries. However, their potential is not fully utilized due to challenges related to limited financial inclusion, poor resource management, and underdeveloped capital markets. Though financial literacy is well-researched in personal finance, its role as a knowledge resource at the firm level and its impact on firm performance remain underexplored. This study investigates the influence of owner-managers' financial literacy on firm performance, focusing on the mediating roles of FinTech adoption and access to finance. By taking a sample of 264 SME owner-managers in the Western Province of Sri Lanka, this study found that financial literacy significantly enhances firm performance (β = 0.241, p < .01). The findings indicate that financial literacy supports sound financial decision-making and risk mitigation and is positively associated with both FinTech adoption (β = 0.542, p < .001) and access to finance (β = 0.533, p < .001). These results underscore the necessity of enhancing financial literacy and promoting FinTech adoption to fully realize the potential of SMEs within developing economies. The study contributes a concise yet impactful framework for enhancing the performance of SMEs through the strategic application of financial literacy. Based on the study's findings, it is recommended that enterprise owners and managers prioritize achieving an adequate level of financial literacy. Furthermore, governmental institutions should revise their financial literacy programs, reconsidering their design and implementation strategies to effectively engage key personnel within enterprises. Current programs appear underutilized due to deficiencies in depth and practical applicability of the knowledge given in them.Publication Embargo Digital gig workers vs. artificial intelligence – a battle of the wits(Emerald Publishing, 2026-04-18) Kelly, S. N; Wisenthige, K; Perera, LPurpose – This article investigates in depth Sri Lankan gig workers' varying attitudes towards AI amid a hyper-digital world and its role of reshaping work patterns in developing economies. By exploring platform work transformations, it provides critical insights to guide equitable social policy and labour protections. Design/methodology/approach – This article is a qualitative study which utilises a semi-structured interview series consisting of fourteen platform-based gig workers across diverse professions, employing purposive sampling method to collect data and NVivo to run the analysis. Institutional ethical approval was obtained and ensured participant informed consent, anonymity and voluntary withdrawal rights throughout the interviews. Findings – This study assesses divergent AI attitudes among Sri Lankan gig workers: optimism towards efficiency gains, ambivalence regarding ethical trade-offs and pessimism concerning skill erosion. Segmentation occurs primarily by occupational specialisation, revealing patterning: IT gig workers embracing pragmatic efficiency while creatives defend identity-based skillsets. Given AI's structural impacts, proactive social policies leveraging gig worker insights are suggested to promote multiple sustainable development goals in emerging digital economies. Originality/value – This exploratory study examines AI attitudes through the lenses of Sri Lanka gig workers, suggesting occupational divergence (IT pragmatism versus creative resistance) in the nation's digital gig economy. It offers contextual empirical insights from gig workers lived experiences in the Global South, extending global AI research beyond existing GenAI and algorithmic management studies, which predominantly focus on quantitative analysis or ride-hailing platforms.Publication Open Access The Role of Virtual and Human Influencer Characteristics in Shaping Gen Z Purchases on TikTok: Hybrid SEM-ANN Approach(Multidisciplinary Digital Publishing Institute (MDPI), 2026-05-09) Peemanee, J; Udomlarp, T; Weber, P; Weerarathna, RThis study examines how human (HI) and virtual influencers (VI) shape consumer responses among Thai Generation Z users (Gen Z) on TikTok. Drawing on Source Credibility Theory (SCT), Parasocial Interaction Theory (PSI), and the Technology Acceptance Model (TAM), the study develops a comparative framework to explain how influencer characteristics affect attitude and purchase-related responses. Data were collected from 400 Generation Z TikTok users in Thailand and analyzed using Govariance-Based Structural Equation Modeling (CB-SEM). The results indicate that both human and virtual influencer characteristics positively influence influencer attitude (IA), which in turn significantly affects purchase decision (PD). However, the total effect of human influencer characteristics on purchase decision is substantially stronger than that of virtual influencers. These findings suggest that while virtual influencers contribute to favorable evaluations through innovation and visual consistency, human influencers remain more effective in translating attitudes into purchase-related outcomes. This study provides comparative evidence from a non-Western context and integrates credibility, relational, and technology-based perspectives into an integrated analytical framework.Publication Open Access Fast Fashion’s Waste Crisis: A Systematic and Bibliometric Review of Global Evidence (2015–2025)(University of Nigeria Department of Mass Communication, 2026-06-01) Dayapathirana, N; Siriwardhane, D; Galdolage, S; Ranasinghe, ABackground: The rising prominence of the fast fashion business model has generated significant concerns regarding textile industry waste and the availability of mitigation strategies. Analysing the consumption patterns driven by fast fashion is essential to determining their long-term environmental impacts. Objective: This study aims to synthesise existing research on fast fashion, textile waste, and sustainability to identify the principal areas of academic inquiry and research trends over the last decade. Methodology: The research analysed 124 articles indexed in Scopus between 2015 and 2025. Following the PRISMA protocol, a bibliometric analysis was conducted to determine publication trends, key authors, and dominant thematic clusters within the identified literature. Results: Three primary research domains were identified: 1) consumer behaviours, motivations, and psychological drivers; 2) environmental impacts of fast fashion; and 3) circular economy principles and sustainable consumption strategies, including industrial interventions. Unique Contribution: This study provides a comprehensive overview of the fast fashion and textile waste literature, filling an existing gap by establishing a wide-ranging research agenda that bridges the divide between consumer psychology and waste management. Conclusion: While sustainable fashion is an accelerating research field, a significant gap remains between theoretical research and the practical application of sustainable consumption and waste disposal models in the fast fashion sector. Key Recommendation: Future research should explore the interconnectedness of consumer purchasing habits, textile disposal behaviours, and the efficiency of existing waste management infrastructures to foster a truly circular economy.Publication Open Access Impact of technological heterogeneity on economic efficiency and total factor productivity change in developed and developing G20 economies(Elsevier B.V., 2026-07) Hassan Shah, W. U; Hao, G; Yasmeen, R; Yan, H; Kankanam Pathiranage, H. S; Yang, QIntroduction The G20 economies, comprising both developed and developing nations, exhibit significant economic efficiency and technological advancement disparities. Understanding these differences is critical for fostering sustainable growth, particularly optimizing resource utilization and narrowing technological gaps. Objectives This study evaluates economic efficiency, technological heterogeneity, and total factor productivity change (TFPC) among G20 economies from 1997 to 2022. It distinguishes between developed and developing nations to identify key challenges and opportunities for productivity enhancement. Methods We assess economic efficiency using Data Envelopment Analysis (DEA) with the Super-SBM model. Meta-Frontier Analysis measures technological disparities, while the Malmquist-Luenberger Productivity Index (MLI) decomposes TFPC into efficiency change (EC) and technological change (TC). Results The mean Meta-frontier efficiency score for G20 countries is 0.9556, indicating a 4.44% improvement potential. Developed economies (e.g., the U.S., Australia) exhibit optimal efficiency, whereas developing nations (e.g., Russia, China, India) lag due to slower technological integration. The Meta-Technology Ratio (MTR) reveals pronounced disparities, with developed economies scoring near 1, while emerging economies range between 0.8 and 0.9. Efficiency change (EC) drives productivity growth more substantially than technological change (TC). Conclusion Narrowing technological gaps, improving resource efficiency, and fostering innovation are vital for sustained economic development, particularly in emerging G20 economies. Policy recommendations include prioritizing R&D investments, technological advancement, and international collaboration to promote equitable and sustainable growth.Publication Open Access Global agricultural expansion and forest loss: a panel data analysis of major oilseed crop expansion and its impact on global forest cover across continents(Springer International Publishing, 2026-07-15) Fernando, G; Dilmith, T; Dassanayaka, T; Rajapaksha, T; Kankanam Pathiranage, H, SVegetable oil production has expanded rapidly over the past two decades, raising concerns about its environmental consequences. This study examines the impact of palm oil, soybean oil, sunflower oil, and rapeseed oil cultivation on agriculture-driven deforestation across six continents over 23 years (2001–2023). Using secondary data from the Food and Agriculture Organisation and Global Forest Watch, this study has constructed a balanced panel dataset of 138 observations (6 continents × 23 years). Panel regression analysis was employed, with model selection guided by Hausman and Breusch-Pagan tests, ultimately favouring the Random Effects estimator. Results indicate that palm oil (β = 0.109, p < 0.05) and soybean oil (β = 0.389, p < 0.01) are strongly associated with forest loss, particularly in Asia and South America. Sunflower oil also shows a positive impact (β = 0.189, p < 0.05), while rapeseed oil demonstrates a negative impact (β = − 0.151, p < 0.05), suggesting comparatively lower deforestation pressures in temperate regions. Confidence intervals and standard errors confirm the robustness of these findings. By integrating multiple oil crops simultaneously, this study provides a comprehensive assessment of how global demand for vegetable oils translates into forest loss. The results highlight the need for crop-specific and region-specific strategies to mitigate environmental impacts while balancing agricultural development with forest conservation.Publication Open Access Monetary incentives and green employee behaviour in the Sri Lankan hospitality industry(Springer Nature, 2026-12) Dilmi, K. A; Sannasgala, S; Weerarathna, R; Rathnayake, N; Pitipanaarachchi, S.M.; Rajapakse, V; Dushmanthi,N; Peemanee, JOne of significant contributors to the economy of the Sri Lankan economy is the hotel industry which however has its share of environmental challenges such as high consumption of energy, wastage and emission of greenhouse gases. Using Structural Equation Modeling (SEM), this paper aims explores the impact of Monetary Incentives and Green Employee Behaviour as one of the means of promoting green behavior among employees. Adopting a quantitative research design, data was collected through the use of standardized questionnaire, which was applied on 383 Colombo hotel employees. The research attests that monetary incentives positively impact on both in-role and extra-role green behavior and confirms that monetary incentives trigger environmentally friendly work behaviour. The paper reveals the need to develop incentive systems based on the specific socio-cultural and economic realities in Sri Lanka. It also indicates in the study that monetary rewards should be implemented as part of the comprehensive Green Human Resource Management mechanism in motivating long term environmentally sound behavior. The study has implications to hotel policy and managers in that effective monetary incentive schemes can have a role to play in the sustainability of tourism and the environment in Sri Lanka. Future researchers are advised to explore the role of non-financial rewards and assess the long-term sustainability of monetary incentive programmes in fostering green behaviour.Publication Open Access The impact of video game addiction on aggressive behaviour among tertiary students in Sri Lanka(Discover, 2026-01-30) Fonseka, W.Y.S; Hathurusinghe, B. M; Weerarathna, R,S; Rathnayake, R. M. N. M; Samindika, H, R.T; Ramasingha, L, T.D; Jayasuriya, N,U; Kumarapperuma, C; Dayapathirana, NThis research examines the impact of video game addiction on aggressive behaviour of tertiary students in Sri Lanka. Video game addiction, with its potential adverse impacts has raised concerns among the public, especially regarding its link to aggressive behaviour. Data was gathered from a sample of 382 undergraduates of local non-state universities selected employing cluster sampling technique to examine the correlation between video game addiction and aggression. The survey was conducted to collect data on video game addiction and aggression. Research findings reveal how gaming addiction leads to aggressive behaviour in addicted gamers indicating a strong positive relationship between video game addiction and aggressive behaviour. Therefore, researchers recommend balanced time management practices between game usage and other daily essential activities and promoting awareness about negative behavioural implication of game addiction. It is expected that this study provides insights to stakeholders including teachers, parents, and administrators to better understand the effects of video game addiction, and mitigation strategies to minimise the negative impact on students’ behaviour.Publication Open Access Influencing players to download new games: role of in-game pop-up advertisements(Springer Nature, 2026-04-30) Vidanagama, S; Ulapane, N; Thilakarathna, D; Wijekoon, C; Wisenthige, K; Aluthwala, CThe utilization of pop-up advertisements in promoting online games has become increasingly prominent, particularly within freemium gaming models, where advertising serves as a critical revenue and acquisition mechanism. Despite their widespread adoption, limited empirical research has examined how specific advertisement attributes shape advertising value and subsequent player download intentions, especially in emerging digital economies. This study investigates the influence of four key pop-up advertisement attributes; informativeness, creativity, personalization, and credibility, on perceived advertising value and its effect on game download intention in the context of freemium games. Undergraduate game players who belong to the age category of 18–25 years, representing Generation Z were determined as the study sample. Randomly selected participants were asked to engage in a game-playing experience and respond to a structured survey afterward. A total of 386 responses were collected for the analysis and 12 individuals were interviewed after the analysis intending to validate the results. The results revealed that the considered ad characteristics; informativeness, creativity, personalization, and credibility have a significant impact on advertising value and the perceived advertising value significantly influences the player’s game download intentions. Subsequent qualitative interviews conducted with individual gamers validated the analyzed results. The qualitative findings corroborated the quantitative results, offering deeper insights into how gamers interpret and respond to in-game pop-up advertisements. This study contributes to the online gaming and digital advertising literature by empirically validating a model of advertising value in freemium gaming contexts. Practically, the findings provide actionable insights for marketers and game developers seeking to optimize pop-up advertisement design to enhance player engagement and increase game installations. Conducted within the Sri Lankan context, the study addresses a notable research gap in emerging digital markets and offers implications applicable to similar underexplored regions.Publication Embargo E-commerce success redefined: integrating information systems and customer empowerment for e-customer engagement(Emerald Publishing, 2026-03-17) Boyagoda, G; Thalagala, S.M; Pathirana, S.L; Jeewantha, S; Wisenthige, KPurpose – This study aims to explore the impact of system quality, information quality, service quality and customer empowerment on customer satisfaction and e-commerce success in Sri Lanka, focusing on Millennials and Generation Z. By integrating the DeLone and McLean Information Systems Success (D&M ISS) model with customer empowerment theory, the research seeks to provide insights into the key drivers of e-customer engagement in e-commerce. Design/methodology/approach – A structured questionnaire was used to collect data from 413 respondents employing the purposive sampling technique. The data collection instrument comprised 32 questions related to system quality, information quality, service quality, customer empowerment and customer satisfaction, as well as demographic questions. The data were analysed using Partial Least Squares Structural Equation Modelling (PLS-SEM). Findings – The results revealed that the system quality, information quality and service quality significantly influence customer satisfaction and intention to use the system in the context of e-commerce, which leads to higher customer engagement. Furthermore, the findings substantiate the crucial role that customer empowerment plays in terms of increasing customer satisfaction. Research limitations/implications – This study focuses on Millennials and Generation Z e-customers in Sri Lanka. It provides insights into this demographic, but does not capture the diverse cultural and technological landscape of the entire country. The study examines Information System (IS) dimensions and customer empowerment, excluding other significant variables like overall customer engagement. Self-reported data may introduce biases, and future research with larger sample sizes and different methods could improve the validity. Focusing on four selected online shopping platforms may limit the applicability as the e-commerce landscape is continuously evolving. Practical implications – The findings offer guidance to e-commerce businesses and policymakers to enhance their digital services and customer satisfaction. Businesses can improve their system quality with intuitive designs, offering accurate information to boost engagement and deliver excellent service quality. Initiatives such as interactive tools, loyalty programs and tailored support can empower customers, fostering a stronger impact. Policymakers can support e-commerce growth by improving regulations and providing training programs. These measures contribute to a more efficient and satisfying online shopping experience, driving long-term customer loyalty and business growth. Social implications – The research emphasises the role of customer empowerment in fostering customer engagement, contributing to the growth of the digital economy and enhancing online shopping experiences. Originality/value – This research enhances the academic understanding of e-commerce success by strengthening the DeLone and McLean Information Systems Success model by adding the concept of customer empowerment. This unique improvement is applied in the context of Sri Lanka, an emerging market with its own socio-economic characteristics. This addition provides new insights into key factors affecting e-customer engagement in the e-commerce sector.