Research Papers - Dept of Information of Management
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Publication 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. USustainability 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.Publication Open Access Extending the Institutional Theory: Public Sector Accounting and Financial Reporting Perspectives, Sri Lanka(researchgate.net, 2020-06) Nagendrakumar, NThe 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.Publication 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. SThe 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 concernPublication 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, NThis 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 InstitutionsPublication 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, DThis 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 economiesPublication 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. DThe 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.Publication 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. MSri 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.Publication 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, RFemale 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.Publication 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. BThe 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.Publication 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.HSri 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.