School of Business

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Open Access
Aggressive strategies of the COVID-19 pandemic on the apparel industry of Sri Lanka using structural equation modeling
(PLoS ONE, 2023-06-21) Rajapakshe, W; Karunaratna, D. S. M.; Ariyaratne, W. H. G.; Lakshani Madushika, H. A.; Perera, G. S. K.; Shamila, P
During the COVID-19 crisis, the apparel industry faced many challenges. Aggressive cost-cutting strategies became a top priority, and in turn, these influenced stressors and adversely affected business sustainability. This study examines the impact of aggressive strategies during the COVID-19 pandemic on business sustainability in the apparel industry of Sri Lanka. Further, it investigates whether the relationship between aggressive cost-cutting strategies and business sustainability was mediated by employee stress, considering aggressive cost reduction strategies and workplace environmental changes. This was a cross-sectional study with data collected from 384 employees in the apparel industry in Sri Lanka. Structural Equation Modelling (SEM) was applied to analyze the direct and indirect effects of aggressive cost reduction strategies and workplace environmental changes on sustainability with mediating effects of stress. Aggressive cost reduction strategies (Beta = 1.317, p = 0.000) and environmental changes (Beta = 0.251, p = 0.000) led to an increase in employee stress but did not affect business sustainability. Thus, employee stress (Beta = -0.028, p = 0.594) was not a mediator in the relationship between aggressive cost-cutting strategies and business sustainability; business sustainability was not a dependent variable. The findings proved that managing workplace stress, particularly improving stressful working environments and aggressive cost reduction strategies, can enhance employee satisfaction. Thus, managing employee stress could be beneficial for policymakers to focus on the area(s) required to retain competent employees. Moreover, aggressive strategies are unsuitable to apply during crisis to enhance business sustainability. The findings provide additional knowledge to the existing literature, enabling employees and employers to predict causes of stress and serve as a significant knowledge base for further studies.
Open Access
Determining the influence of LPI, GCI and IR on FDI: A study on the Asia and Pacific Region
(PLoS ONE, 2023-02) Wannisinghe, P; Jayakody, S; Rathnayake, S; Wijayasinghe, D; Jayathilaka, R; Madhavika, N
Competitiveness Index (GCI) and Interest Rates (IR) on Foreign Direct Investment (FDI) for the Asia & Pacific region. The study is original as extensive evidence on the impact of LPI, GCI and IR on FDI in the Asia & Pacific region are examined initially. For the years 2007, 2010, 2012, 2014, 2016 and 2018, data was gathered for 33 nations in the Asia and Pacific area. Data analysis was performed using a panel regression model and multiple linear regression. The findings of the study reveal that LPI, GCI and IR are the three major factors influencing FDI inflows into the economies. However, the impact of these factors varies from country to country. The results concluded that LPI positively impacts FDI in India, Korea, Lebanon, and Oman. In contrast, a negative influence was observed for China, Kuwait and the Philippines. GCI positively impacts FDI in China, Korea, Kuwait, Pakistan and the Philippines, while a negative impact was observed in Armenia, India, Lebanon. Furthermore, IR has a positive impact on FDI flows in China and Egypt while in Korea and Lebanon, a negative impact was observed. Therefore, policymakers should focus more on improving the infrastructural requirements and macroeconomic factors while considering the other country-level variables that influence the FDI in flow
Open Access
Factors affecting job performance of Sri Lankan IT professionals working from home
(PLOS ONE, 2023-12-12) Jayanandana, N; Jayathilaka, R
This study investigated the influence of the physical work environment, work life balance, work flexibility, and effective communication on the job performance of IT professionals in Sri Lanka’s IT industry who work from home (WFH). A standard questionnaire was used to collect data from 293 IT specialists in 50 different IT organizations in Sri Lanka, and a stepwise probit model was employed for data analysis. According to the findings, both the physical work environment and work life balance had a significantly positive effect on job performance. A one-unit increase in the physical work environment and work life balance increased the likelihood of high job performance by 0.21% and 0.19%, respectively. In contrast, work flexibility had a negative effect on job performance, with an increase of one unit resulting in a 0.18% decrease in the likelihood of high job performance. The positive impact of effective communication on job performance was less significant. The study emphasises the significance of providing a conducive work environment and promoting work life balance to enhance the job performance of IT professionals in Sri Lanka’s IT industry who WFH.
Open Access
From short to long term: Dynamic analysis of FDI and net export in global regions
(PLoS ONE, 2023-09-14) Lakshani, S; Sandaruwan, C; Fernando, C; Vidyapathirana, G; Jayathilaka, R; Munasinghe, S
It is crucial to examine the impact between foreign direct investment (FDI) and net exports (NE) for unveiling international trade dynamics, and the economic development of different geographical regions. It yields sharp insights into how FDI inflows, driven by theories such as backward linkage, export platform, and knowledge transfer, enhance a host country’s export capacity and contribute to economic growth. Moreover, studying the reciprocal linkages between FDI and NE helps recognise the aspects of domestic factors, such as productivity and the product life cycle, in attracting FDI and increasing export performance. Based on those theories, the study aims to ascertain the dynamic causality or correlation between FDI and NE across all regions with the utilisation of panel data gathered from 110 countries, considering the period from 2002 to 2020. The Wavelet coherence method is used to investigate the relationship between these variables across different frequencies and periods, followed by a Granger causality test. The findings demonstrated that FDI and NE have a significant relationship in most regions, with a bidirectional relationship between FDI and NE across all continents. The results could assist respective governments and policymakers in formulating policies related to FDI flows and offer insights into how a host country can attract more FDI and boost NE.
Embargo
A Grounded Theory of Enterprising Mothers: Work-Life Balancing of Women in Fiji
(Peace and Conflict Studies, 2023-06) Candauda A., S
Gender equality is recognized as crucial for firms' growth. This paper attempts to investigate how and why do certain sociocultural and structural factors influence sustained gender inequality in Fiji? And then, using Grounded Theory (GT) method, it attempts to conceptualise how are Fijian working mothers striving to promote equality and diversity in the workplace, society, and familylife? By employing Grounded theory (GT) method, semi-structured interviews (32) were used to collect data from high-ranked officers in private and public sectors and, the interview transcripts were analysed using GT techniques: iterative and recursive processes of coding, categorising, theoretical sampling and constant comparison. The core category, "enterprising mothers need comprehensive support for equal status," emerged from Fijian executive mothers' efforts in: (1) securing a fair share for females in senior-management positions with the support of legal backing; (2) discouraging women's reticent attitudes towards sociocultural suppressions of gender equality; (3) challenging certain discriminatory structural factors and self-effacing allegations; and (4) balancing work-life and endeavouring career advancements. This study attempts, for the first time, to theorise these Fijian working mothers' efforts to conquer gender inequality and to expose how the Fijian sociocultural and structural system influences sustained gender inequality.
Embargo
Industry 4.0 Implementation in Sri Lankan Manufacturing Firms: A Lean Perspective
(IEEE, 2023-08-17) Bandara, L; Withanaarachchi, A; Peter, S
Manufacturing industries require the highest quality and efficiency throughout their value chain, to compete with countries having a labor cost advantage. Today, manufacturing firms are in a fast-phased run to automate their processes and increase value chain integration through advanced technologies. Industry 4.0 has gained traction within this community, where its components like IoT, Big data, and Cloud computing are being used by manufacturing firms to optimize and increase the efficiency of their workplaces. Obtaining the proper outcomes from these advanced technologies has been an issue for most of its users. Very few studies were found in the literature, that propose ways to mitigate the issues faced by these companies in their Industry 4.0 journey. Lean concepts are a popular and proven methodology used by firms worldwide to decrease the complexity and increase the productivity of their processes. Based on a systematic literature review, the study identifies the current knowledge on mitigating the barriers faced by manufacturing firms in Industry 4.0 implementations. To address the knowledge gap identified in the literature review, the study proposes and statistically tests a framework, on how the manufacturing environment can be improved to obtain the expected outcomes of Industry 4.0 implementations, through a lean theoretical lens. Thus, the stakeholders of the company can contribute towards successful implementations of Industry 4.0 while organizational processes are being standardized and optimized to integrate these advanced technological shifts.
Open Access
Is the best option still in low adoption? An investigation on factors affecting the adoption of online school education in rural areas in Sri Lanka
(Springer, 2023-01-22) Weerasena, A; Jayathilaka, R
This research investigates rural area students’ online adoption during the fourth wave of the coronavirus 2019 (COVID-19) pandemic. The main objective of this study was to identify the factors affecting the adoption of online education in rural areas in Sri Lanka. This case study was carried out based on data gathered from the online survey during the pandemic covering 16 districts in Sri Lanka. Using the ordered probit regression model through the stepwise technique, the study investigates the factors affecting the adoption of online education in rural areas in Sri Lanka. According to the results generated, attitude, perceived use, awareness, and new technology adoption have a positive impact on student adoption of online education in Sri Lanka. Online education so far is one of the effective and feasible solutions for providing education in a pandemic situation in any country. These findings are helpful for responsible educational institutions to address and contribute to key issues such as low perceived use, poor attitude, low awareness, and poor technology adoption. The study will also assist policymakers in preparing a roadmap, at the policy level with the perceived benefits of online education during similar future crises in Sri Lanka.
Open Access
Job seeker value proposition conceptualised from the perspective of the job choice theory
(2023-04-27) Jayasinghe, S; Suraweera, T; Samarasinghe, D
The job seeker value proposition (JSVP) can be defined as a set of benefits or values a firm promises its job seekers to deliver once they join it, signifying an indicator of its employer brand as well as focusing on job seeker attraction because it carries some information that helps the decisionmaking process of the prospective employees. In this concern, the job choice theory interprets the actual factors of a job seeker’s decision-making process, and therefore, it could be effectively used in conceptualising the JSVP. However, it is claimed that, in most cases, the job choice theory is not considered the basis for developing the construct of the JSVP. Therefore, taking the job choice theory into consideration, this paper aims to develop a framework for conceptualising the JSVP from a new perspective. Thus, through a systematic literature review, eight factors that explain the conceptual domain of the JSVP are discovered and, on the basis of them, eight propositions are made in developing a measurement scale for the JSVP. This study discusses the theoretical and practical implications of the proposed factor-based structure for the JSVP. Subsequently, the limitations in the present research are discussed, and suggestions are made for future research concerning JSVP constructs.
Embargo
Profiling Gen Z: Influencing Online Purchase Intention
(IEEE, 2023-08-23) Wijerathne, W.D.S K.; Peter, S
With technology playing an ever-increasingly significant part in our everyday lives, the study focused on profiling Gen Z Internet behavior and identifying factors influencing their online purchase intentions. Responses from 253 participants were captured using a standardized questionnaire in order to profile the online shopping behavior of Gen Z. The results showed that Gen Z heavily relies on the Internet for social media, education, and video streaming but spends less time on online purchasing. Significantly, there was a significant gender gap in their online shopping behavior, with females showing a higher propensity to shop online. Perceived enjoyment and perceived ease of use were the most significant factors influencing the online purchase intention of Gen Z. In contrast, subjective norm, perceived benefits, and perceived trust were less significant. The findings emphasize the importance of understanding the unique habits and preferences of this market segment and developing strategies to target them effectively.
Open Access
Sustainability practices and organizational performance during the COVID-19 pandemic and economic crisis: A case of apparel and textile industry in Sri Lanka
(NLM (Medline), 2023-07-04) Weerasinghe, N; Weerasinghe, A; Perera, Y; Tennakoon, S; Rathnayake, N; Jayasinghe, P
The apparel and textile industry is the backbone of the Sri Lankan economy, contributing significantly to the country's gross domestic product (GDP). The coronavirus (COVID-19) pandemic, which also triggered the ongoing economic crisis in Sri Lanka, has a profound effect on the organizational performance of apparel sector firms in Sri Lanka. In this context, the study examines the impact of multi-dimensional corporate sustainability practices on organizational performance in the said sector. The study employed the partial least squares structural equation modelling (PLS-SEM) technique for analysing and testing the hypothesis of the study while using Smart PLS 4.0 software as the analysis tool. Relevant data were collected through a questionnaire from 300 apparel firms registered with the Board of Investment of Sri Lanka (BOI). The study results indicated that "economic vigour," "ethical practices," and "social equity" have a significant impact on organizational performance, while "corporate governance" and "environmental performance" have an insignificant impact. Unique discoveries from this study would be useful to prosper organizational performance and formulate novel sustainable future strategies not limited to the garment industry even during harsh economic conditions. Copyright: © 2023 Weerasinghe et al. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.