Conference Articles by A.A.M.D. Amarasinghe
Seventh Interdisciplinary Conference of Management Researchers (ICMR 2022), Ethical Academic Leadership in Economic Turbulent Times, 2022
As a result of rapid urbanization, the lifestyle of the people is changing. Imbalanced lifestyle ... more As a result of rapid urbanization, the lifestyle of the people is changing. Imbalanced lifestyle creates more diabetic patients to the society. The main objective of this study is to explore the impact of urbanization on diabetes. Blood sugar levels of patients were considered as the dependable variable, while three indicators of urbanization (bad diet, limited physical activities, and bad mental health) were taken as the independent variables of the study. 370 patients representing Matara district were taken as the sample of the study. Data was collected using questionnaires and was analyzed using correlation and regression analysis. Results showed that, proper food habits and higher level of physical activities had a negative relationship with diabetes. Poor mental health and blood sugar level showed a positive relationship indicating good mental health cause a lower level of blood sugar. It can be concluded that urbanization has a significant impact on diabetes. The main hypothesis which is urbanization leads to diabetes, was verified, and the influence of sub hypotheses were also confirmed. The age group of 45-55 shows more prevalence of diabetes. This research is generating new knowledge and achieved new sight on the prevention of diabetes and making the healthy future generation to the world.
Seventh Interdisciplinary Conference of Management Researchers (ICMR 2022), Ethical Academic Leadership in Economic Turbulent Times, 2022
Sri Lanka is experiencing a foreign exchange shortage, which has reduced its ability to purchase ... more Sri Lanka is experiencing a foreign exchange shortage, which has reduced its ability to purchase food and fuel and led to a complete default on its international debt. This economic vulnerability has created a political instability in the country. Accordingly, this situation has been directly impacted to the Colombo Stock Exchange since investors will remain under a fear of losing their wealth. Thus, this study aims to examine the relationship between exchange rate and stock prices through interest rate and inflation being they are the most critical economic indicators for the current economic crisis. Monthly data were collected for the period from June 2014 to May 2022 and dollar rate was used as the exchange rate, three months treasury bill rate was used as the interest rate and inflation rate announced by the Central Bank of Sri Lanka based on the National Consumer Price Index, was used as inflation rate. Structural equation modelling was used to analyze the data. The results indicated that the exchange rate had significant negative relationship with stock prices. Sobel test indicated that the interest rate significantly mediated the relationship between exchange rate and stock prices while inflation rate was not. Authorities should take actions to create political stability immediately while restructuring its debts to reduce dollar out flows. If they are able to control, however, the exchange rate fluctuations while reducing imports and increasing exports, it will be a proper solution to have good economic condition of the country. Then, they can secure the financial market of the country, increasing the confidence of the investors of the market.
Third Management Undergraduates’ Research Session (MURS 2021), Envisioning Young Scientists for a Resilient Tomorrow, 2022
New business involves a process of discovering new opportunities existing in the market and creat... more New business involves a process of discovering new opportunities existing in the market and creatively providing solutions to them through the new business startup. This paper aims to determine the contribution of bank-market development and its competition towards new business creation in Sri Lanka. A quantitative research design was used for this study through collecting secondary data from annual reports from 2009 to 2019 of 06 licensed commercial banks in Sri Lanka. The ratio of private sector credit to GDP was used to measure the bank-market development, while Lerner Index was used to measure the bank-market competition. A number of new businesses registered as Private Limited Companies in the Department of Companies Registrar were used to value the new business creations and a panel regression method was used to estimate the objectives. The findings of the study reported that the bankmarket development has a positive significant influence on new business creation while the bank market competition has an insignificant impact on new business creation in the country. The findings of the study can be used by policymakers and regulators in the financial sector of the country to create a favourable environment for new entrants.
Third Management Undergraduates’ Research Session (MURS 2021), Envisioning Young Scientists for a Resilient Tomorrow, 2022
Money devaluation is a downward adjustment of the price of a country's currency in opposition to ... more Money devaluation is a downward adjustment of the price of a country's currency in opposition to any other currency. Money devaluation has a ripple impact on macroeconomic factors in developing countries. This study aims to identify the effects of money devaluation on macroeconomic indicators of the Sri Lankan economy. Under the quantitative approach, secondary data (annual) were collected from the year 1975 to the year 2020 from the annual reports of the Central Bank. The data were analyzed to find out the long run and the shortrun relationship between variables using Johansen Co-integration and Granger Causality tests. LKR vs USD rate was used as the proxy for money devaluation and GDP growth, money supply, inflation, the balance of payment, imports, exports, and trade openness were used as macroeconomic indicators. The results revealed the short and long-run effects of money devaluation on GDP growth, imports and trade openness. However, there is only a long-run effect of money devaluation on money supply, inflation and balance of payment. In the long run, money devaluation has a significant positive impact on inflation, imports and trade openness while it is negative on GDP growth, money supply, and balance of payment. Further, impulse response function and error variance decomposition indicated that the shock of the selected macroeconomic variables to the volatility of the exchange rate would get normal after three years from the shock. An insignificant effect of money devaluation on exports has been found in both the short and long run. The findings of the study will be beneficial for investors and policymakers who can come up with better ideas about the money devaluation and macroeconomic factors for future predictions.
Third Management Undergraduates’ Research Session (MURS 2021), Envisioning Young Scientists for a Resilient Tomorrow, 2022
Information technology (IT) is an indispensable tool for all sectors in the current competitive w... more Information technology (IT) is an indispensable tool for all sectors in the current competitive world. COVID-19 is pushing organizations, including Small and Medium Enterprises, to use new technological methods effectively, and IT is essential as never earlier. Since SMEs have grown to be a critical aspect of the growing economies in the world, the identification of technology adaptation of SMEs will create opportunities for an organization to find ways to do their businesses effectively, increasing the performance of the organizations. This study examines the extent of IT adoption in SMEs in rural areas of Sri Lanka before and during the COVID-19 pandemic and finds reasons for technology adaptation. Employing the quantitative methodology, primary data were collected through a questionnaire from 385 SMEs in the Badulla District using the convenience sampling method. The original Technology Adaptation Model was modified according to the research context and was used as a model for this study. Regression analysis and Chi-square test were used to find the significant reasons for technology adaptation. The two-sample t-test was used to find the significant difference in technology usage between before and during the COVID period. Results showed that the owner's attitude, knowledge, and innovativeness significantly influenced the perceived usefulness and perceived ease of use. Perceived usefulness and perceived ease of use have a significant positive influence on behavioural intention. The behavioural intention was significantly influenced by the use of technology for their businesses. Further, the adoption of information technology in SMEs in rural areas before the COVID-19 pandemic has improved during the COVID-19 pandemic. Technology adaptation of SMEs minimizes the potential threats to the enterprise from the COVID-19 pandemic and thereby enables the enterprise to function successfully.
Sixth Interdisciplinary Conference of Management Researchers (ICMR 2021), Fostering Global Vicinity Today for a Resilient Future, 2021
With the current COVID 19 pandemic, internet plays a major role in effectively communicating info... more With the current COVID 19 pandemic, internet plays a major role in effectively communicating information to the general public on timely manner. It facilitates the improved availability of financial information and encourages investment decisions. Corporate governance is one of critical factor to attract more investments. Hence, this study aims to investigate the how Corporate Internet Reporting (CIR) of Sri Lankan Hotel and Travel sector companies are influenced by corporate governance structures. Hotel and Travel sector companies were selected as the sample and CIR was measured using an index comprising 87 indicators. Type of audit, audit committee size and board size were used as dimensions to measure the corporate governance practices of the company. Correlation and multiple regression analyses were used as analysis and forecasting techniques. Results revealed that the level of CIR in Hotel and Travel sector companies in Sri Lanka is low, as the average index become 21.27%. All the corporate governance dimensions were statistically significant and confirm that corporate governance will affect for CIR in the hotel and Travel sector companies in Sri Lanka. This study extends, as well as contributes to the existing literature by examining the impact of corporate governance on CIR in hotel and travel sector in Sri Lanka. Policies on Corporate governance should be improved to increase the level of CIR and it will pave the way towards sustainable development of the Hotel and Travel sector.
Sixth Interdisciplinary Conference of Management Researchers (ICMR 2021), Fostering Global Vicinity Today for a Resilient Future, 2021
The rapid spread of the COVID-19 outbreak throughout the world has triggered the countries into a... more The rapid spread of the COVID-19 outbreak throughout the world has triggered the countries into a severe crisis creating economic and financial uncertainties. Since it is still underway, analysts and experts worldwide are trying to capture its impact on the economy. This paper explores the effect of the COVID-19 outbreak and the government intervention measures to control the disease on the stock market in Sri Lanka. This paper seeks daily data from 30 th March 2020 to 30 th August 2021 on confirmed COVID cases, COVID deaths, All Share Price Index data, the Oxford COVID-19 Government Response Tracker (OxCGRT), exchange rate, and nationwide lockdowns. The regression results confirm a significant positive impact of the daily COVID-19 cases on the stock market, whereas the daily confirmed deaths do not significantly impact the share market in Sri Lanka. The study also discloses that the nationwide lockdowns and depreciation of the rupee value against the US dollar significantly negatively affected the stock market. Moreover, the lockdown policies, regardless of how strict they are, had a significant positive impact on the stock market in Sri Lanka. This study is the first to explore the influence of the COVID-19 outbreak and the Government's disease control measures to provide a way forward on appropriate policy decisions aimed at developing the financial market. The policymakers should develop the most appropriate policies to protect the financial market and the economy in a critical situation like the COVID-19 health pandemic.
First International Undergraduate Finance Research Conference (IUFRC 2021), 2021
Tax revenue is one of the most critical factors for the development of any country. Reduction in ... more Tax revenue is one of the most critical factors for the development of any country. Reduction in tax revenue is one of the major problems in developing countries. That would affect every section of the country since it is the primary source of government funding. Sustainable development is not a novelty concept and has three aspects: economic, social, and environmental sustainability. The United Nations published a sustainable report on 2030, mentioning economic, social, and environmental sustainability goals. This research discusses the impact of low tax revenue on economic sustainability in Sri Lanka by using the data from 1990 to 2019. Human Development Index was used to measure the sustainability of the country. The data was collected from Annual Reports and Economic and Social Statistics of Sri Lanka published by the Central Bank of Sri Lanka. Correlation and regression analyses were used to achieve the objectives of the research. The results showed a significant impact of the tax revenue, trade openness, exchange rate, and inflation on economic sustainability. There is a significant positive impact of the exchange rate and the inflation rate on economic sustainability in Sri Lanka. As well as there is a significant negative impact of the tax revenue and the trade openness on economic sustainability. Though we think that increase in revenue can be achieved by increasing taxes, the economy's sustainability cannot be achieved by imposing taxes on the people.
Second Management Undergraduates’ Research Session (MURS 2020), 2020
is a developing country and currently facing many economic and social issues that are collectivel... more is a developing country and currently facing many economic and social issues that are collectively affecting economic growth. Among that foreign debt servicing take substantial place which is the allocation of more external debt rather than utilization of internal capital contributes to higher debt stocks. Sri Lanka has been allocating a considerable amount of money to debt repayment because of the strong level of debt. This analysis was conducted to evaluate the effect of foreign debt servicing on the per capita income growth rate in Sri Lanka. Design/methodology/approach Secondary data is used for this work. As the researcher attempts to test the existing theories related to foreign debt servicing and growth rate per capita income it is identified as a deductive approach. This is a quantitative study that covered various aspects of Sri Lankan external debt servicing for the period from 1989 to 2018. Gross domestic investment as a percentage of gross domestic production, the growth rate of secondary school enrolment, the growth rate of industry value-added, and fiscal deficit as a percentage of gross domestic production was used as control variables to the model. Correlation and regression analysis were used to identify the relationship between selected variables. Findings Findings revealed that foreign debt servicing negatively effect on per capita income growth rate in Sri Lanka. There was a significant association between variables according to the correlation results. The only growth rate of industry value added is significant from the selected control variables to the model. Originality/value Sri Lanka still has a chance to solve its external debt problems by implementing the right policies, but it needs substantial support through debt relief or reduction initiatives. This study sets the foundation of decision-makers in Sri Lanka by providing useful information that will help to improve the decision making in government and the regulatory authorities.
Second Management Undergraduates’ Research Session (MURS 2020), 2020
The tourism industry has emerged as a significant sector in the economy in recent years. Numerous... more The tourism industry has emerged as a significant sector in the economy in recent years. Numerous studies have been conducted in developed countries to investigate the relationship between tourist arrivals and economic growth. But, very few researches can be seen in developing countries and as well as few of them have been conducted in the Sri Lankan context. This study will identify the relationship between economic growth and tourist arrivals through gross domestic production, and capital market development. As well as the relationship was examined between exchange rate and tourist arrivals based on four major exchange rates. Design/methodology/approach This study used data from SLTDA reports, CBSL annual reports, and CSE data from 1995 to 2019. The impact of tourist arrivals on economic growth, impact of tourist arrivals on hotel and travel sector index in the capital market and the impact of exchange rate on tourist arrivals were identified using regression analysis. Seasonal pattern was identified in tourist arrivals and time series model was used to derive the observation to the regression model. Findings The results reveal that the tourist arrival has significant positive relationship with economic growth as well as with the hotel and travel sector index. Also, Indian rupees has negative significant and Starling pounds, YUAN, and EURO have positive significant impact on tourist arrivals under linear regression model. Originality/Value This paper contributes new knowledge to the literature by connecting tourist arrivals with economic growth as well as with financial sector development. Further, it has identified that the importance of exchange rate when improving the tourist arrivals. Practical implications Exchange rate should be maintained in favorable manner to improve tourist arrivals. From practitioners' perspective, tourism should promote to get benefit to the economy as much as possible.
Second Management Undergraduates’ Research Session (MURS 2020), 2020
When people enter into the knowledge-based economy, intellectual capital consecutively replaces r... more When people enter into the knowledge-based economy, intellectual capital consecutively replaces real capital and changes the source of value enhancement for modern businesses. Intellectual capital is the matters which are known by all members of the company and could help the business to gain competitive advantages in the market. The purpose of this study is to identify the relationship between intellectual capital and financial performances of listed manufacturing companies in Sri Lanka Design/methodology/approach The study has been conducted using data drawn from 2015 to 2019 from public listed manufacturing companies in Sri Lanka. The Modified value added intellectual coefficient (M-VAIC) has been employed to measure the intellectual capital efficiency together with the measurements of value creation efficiencies of capital employed, human capital, structural capital and relational capital of selected firms. Company financial performance is measured through return on assets and return on equity. Panel data regression analysis was used to investigate the said relationships. Findings The results indicated that human capital and physical capital have significant positive relationship with financial performance of selected companies. Further, it indicated that structural capital efficiency and relational capital were insignificantly impact on financial performance. Originality/Value Intellectual capital is a tool for businesses that is important for achieving and sustaining competitive success. The advantage of the company's intellectual capital is assumed to have an impact on financial results. Practical Implication This study may help for management of manufacturing companies to apply knowledge management in their organizations and in addressing the factors affecting intellectual capital performance to maximize their value creation and financial performance.
Second Management Undergraduates’ Research Session (MURS 2020), 2020
With technological development, the traditional accounting system is slowly strengthened and upda... more With technological development, the traditional accounting system is slowly strengthened and updated, and one of the newest accounting paradigms is the cloud accounting system. This cloud accounting is a modern concept and online accounting software that can be accessed at any time anywhere from any device through the internet and its data and software are stored on the internet. The main objective of the study is to explore the benefits of cloud accounting in the banking sector of Sri Lanka and develop a framework on how to use cloud accounting in the Sri Lankan banking sector. Design/ Methodology/ Approach To achieve the objective of this study, the researcher collected primary data through a questionnaire from seven listed commercial banks in Sri Lanka, and secondary data were collected from related articles and websites. The data were analyzed using descriptive statistics, and the comprehensive content analysis was carried out for the identification of the applicability of cloud accounting in the banking sector. Findings Findings reveal that the Sri Lankan banks are still doing their accounting using traditional software or ERP systems and they have not moved towards advanced systems which are highly technological and easily operated, like cloud systems. A plenty of disadvantages in existing systems and numerous advantages of the cloud systems were identified via this study, which will provide guidelines for the banks to adopt their systems into the cloud system. Originality/Value It is good to improve awareness of advanced accounting systems like cloud accounting as a cost-reduction accounting method. Banks can get more advantages through adopting their systems into the cloud system.
Second Management Undergraduates’ Research Session (MURS 2020), 2020
With the rapid growth of technologically advanced businesses in the knowledge based economy, the ... more With the rapid growth of technologically advanced businesses in the knowledge based economy, the value of intellectual capital has been paid more attention by corporate governance. Financial sustainability is also one of the leading topics in financial management which has attracted many concerns in recent years. The bank, finance & insurance (BFI) sector of Sri Lanka is an emerging sector of the economy with the development of information technology & other supporting services. The banking sector is the heart of the economy which handles the financial sustainability of the economy as well. Similarly, the utilization of intellectual capital is very high in Sri Lankan banks. This study will examine the impact of intellectual capital on financial sustainability in the banking sector of Sri Lanka. Design/Methodology/Approach Value added intellectual coefficient was calculated considering human capital, structural capital and the capital employed to measure intellectual capital. The sustainability growth ratio was calculated as the dependent variable of the study. The annual data of eleven commercial banks from 2015 to 2019 were collected and panel data regression analysis was used to analyze the collected data. Findings The fixed-effect model was selected as the final fitted model and the result indicates that intellectual capital has a significant positive impact on the financial sustainability of banks in Sri Lanka. When analyzing the components of the value-added intellectual coefficient, it was found that the structural capital efficiency was significant to financial sustainability. Originality/Value The study serves as a useful input for banking institutions indicating how to apply knowledge management in their institutions and how to maximize their value creation to gain higher financial sustainability.
First Management Undergraduates’ Research Session (MURS 2019), 2019
The aim of this study is to explore the impact of IFRS adoption on value relevance of accounting ... more The aim of this study is to explore the impact of IFRS adoption on value relevance of accounting information. This study investigates the value relevance of IFRS adoption by comparing the association between accounting measures and market values under GAAP and under IFRS of listed commercial banks in Colombo Stock Exchange. This study employs data from seven commercial banks for both pre-IFRS (2007-2011) and post-IFRS (2012-2016) adoption. Data were analyzed by using panel data regression method and Pearson correlation analysis. Results showed that IFRS adoption does not significantly change the central values that depict the financial position and performance of Sri Lankan companies in financial statements. Therefore, value relevance of accounting information has not significantly improved in the post-IFRS period than the pre-IFRS period. Further studies are encouraged to conduct the impact of IFRS adoption on value relevance by expanding the sample size with incorporating more accounting quality measurement indicators, measurement and ratios or by gathering primary data.
First Management Undergraduates’ Research Session (MURS 2019), 2019
Working Capital Management is a very useful concept for almost all the companies. Cash conversion... more Working Capital Management is a very useful concept for almost all the companies. Cash conversion cycle plays a vital role in every organization and it helps for company’s financial management. It directly effects on profitability and liquidity in the organization. The main objective of this research is to investigate the impact of modified cash conversion cycle on the firm’s profitability. Panel data analysis was used to analyze the collected data for the sample companies (Construction and Engineering, Diversified, Manufacturing, Land and Properties) listed on Colombo Stock Exchange for the period from 2012 to 2018. Findings revealed that the days of advance payment outstanding had a significant negative impact to the ROA. Days of inventory outstanding, days of receivable outstanding and days of payable outstanding were insignificant to the fitted model. Further, days of inventory outstanding and days of payable outstanding were negatively significant with ROE. Other variables are insignificant to the ROE model.
Theveli 2018, International Conference on Multidisciplinary Research, New Horizons in Higher Education: Synergies, Innovation and Development, 2018
The capital structure refers to the way that a firm finances its assets through some combinations... more The capital structure refers to the way that a firm finances its assets through some combinations of financing sources. Based on different kinds of financial decisions, the capital structures of firms could be shaped differently. Eventually, it is an important issue for managers how to minimize financial costs and maximize shareholders’ equity. Trade-off theory implies that firms adjust their capital structure in response to the temporary shocks that cause their leverage to deviate from the target. This paper aims at testing the Static Trade-off Theory of Capital Structure in Plantation sector firms in Colombo Stock Exchange. Panel Data Regression analysis was used to test the hypotheses derived from the static trade off theory. Total debt to Total Asset ratio was used as the dependent variable and six independent variables were used to measure the impact on debt ratio; Profitability, Tangibility of Assets, Non-Debt Tax Shield, Firm Size, Growth Opportunities and Business Risk. The analysis was performed using secondary data collected from annual reports of the selected 18 plantation companies for the period from 2012 to 2017. Moderate support has been found for the theory. Growth opportunities were significantly negatively impact on the firm leverage in accordance with trade-off frame work. Profitability ratio showed a strong negative relationship with firm leverage. Tangibility of assets ratio failed in describing the firm leverage while business risk showed significant positive relationship between firm leverage. Firm size also showed a significant positive relationship with firm leverage. And Non-Debt Tax Shield represent an insignificant result with firm leverage. According to the findings of the study, the choice should be done in a proper way to determine the optimal capital structure. If a company can optimize their capital structure, it can lead to superior profits and it will be a competitive advantage to survive in the industry.
3rd International Conference on Statistics for Good Governance, 2017
This study examined the dynamic impact of macroeconomic variables on all share price index (ASPI)... more This study examined the dynamic impact of macroeconomic variables on all share price index (ASPI) volatility. Data were collected for the period commence from January 2006 to December 2015 using Central Bank annual reports and publications of Colombo stock exchange. Money supply, interest rates, consumer price index, exchange rate, and industrial production index were used as macroeconomic variables of the study. The AR (1) - GARCH (1, 1) - X model was identified as the significant model to model volatility of all share price index series. It was found that the previous all share price index (lag 1) positively and significantly affects the current all share price index implying that the volatility of stock market prices is affected by related news from the previous period (lag 1) more than by past volatility. Negative values of two parameters of the GARCH indicates that shocks to the conditional variance take a short time to die out, so volatility is not persistent. The result further implies that the volatility in interest rate and industrial production index are highly impact for the volatility of all share price index. The Johansen-Juselius cointegration test suggested that macroeconomic variables in the system share a long run relationship. Results imply that, all share price index has significant positive long run relationships with money supply, interest rate & exchange rate while significant negative long run relationships with industrial production index & consumer price index. The results of this study can be utilized for better decision making in share market.
7th Annual Research Session of the Sabaragamuwa University of Sri Lanka, 2017
This study examines the impact of service quality, customer satisfaction and customer loyalty as ... more This study examines the impact of service quality, customer satisfaction and customer loyalty as a case study in ABC Hotel Colombo. Based on the sample, quantitative approach was carried out. Questionnaires were distributed for the guests in ABC hotel Colombo to collect the data. Correlation and regression was adapted to get the outcomes. Based on the results hypothesis testing was carried out. Pearson correlation coefficient revealed the positive association between service quality, customer satisfaction and customer loyalty. Three models which were articulated according to conceptual framework depicted the goodness of fit and significant of each variables included in the model and finally all
models and hypotheses were accepted and considered significant. In this study, since it was reconfirmed that service quality had a significant effect on customer satisfaction, it paves way for customers being loyal and being evangelists by spreading positive word of mouth. The higher the service quality the higher the customers are satisfied and loyal customer may retain with the hotel. To overcome the drawbacks of ABC hotel Colombo, it was recommended to increase the quality of service, empathies of staff and satisfy customers to retain them loyal. To conclude, the effect and relationship of service quality, customer satisfaction and customer loyalty has been exposed and established.
7th Annual Research Session of the Sabaragamuwa University of Sri Lanka, 2017
This study examined the dynamic impact of macroeconomic variables on All Share Price Index (ASPI)... more This study examined the dynamic impact of macroeconomic variables on All Share Price Index (ASPI) volatility. Data were collected for the period spanning from January 2006 to December 2015 using annual reports of the Central Bank of Sri Lanka and publications of Colombo Stock Exchange. Money supply, interest rate, consumer price index, exchange rate, and industrial production index were used as macroeconomic variables of the study. The AR (1)-GARCH (1, 1)-X model was identified as the significant model to model volatility of all share price index. It was found that the previous all share price index (lag 1) positively and significantly affects the current ASPI implying that the volatility of stock market prices is affected by related news from the previous period more than by past volatility. Negative values of two parameters of the GARCH indicate that shocks to the conditional variance take a short time to die out, so volatility is not persistent. The result further implies that the volatility in interest rate and industrial production index have significant impact for the volatility of all share price index. The Johansen-Juselius cointegration test suggested that macroeconomic variables in the system share a long run relationship. Results imply that, ASPI has significant positive long run relationships with money supply, interest rate and exchange rate while significant negative long run relationships with industrial production index and consumer price index. Investors in the stock market should look at the systematic risks revealed by the macroeconomic variables when structuring portfolios and diversification strategies.
6th International Conference on Paradigm Shift in Global Business Practices and Socio-Economic Development, 2017
This study examines the impact of tourist arrivals on the stock prices of Hotel & Travel sector. ... more This study examines the impact of tourist arrivals on the stock prices of Hotel & Travel sector. Data on tourist arrivals is collected from the series of Annual Statistical Reports published by the Sri Lanka Tourism Development Authority from January 2010 to December 2016. The Hotel & Travel sector index is taken from the Data Library CD which is issued by Colombo Stock Exchange. The Granger Causality Test is used to determine causality between variables. The results indicate a one way causality between sector share price and tourist arrivals, which indicate that the tourist arrivals have granger cause with hotel & travel sector stock price. But sector index has not granger cause with tourist arrivals. Regression results show that there is a significant negative impact of tourist arrivals on sector stock prices which is contradictory with the general believing. Investors are advised to keen on changes in tourist arrivals when investing money in hotel & travel sector companies.
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Conference Articles by A.A.M.D. Amarasinghe
models and hypotheses were accepted and considered significant. In this study, since it was reconfirmed that service quality had a significant effect on customer satisfaction, it paves way for customers being loyal and being evangelists by spreading positive word of mouth. The higher the service quality the higher the customers are satisfied and loyal customer may retain with the hotel. To overcome the drawbacks of ABC hotel Colombo, it was recommended to increase the quality of service, empathies of staff and satisfy customers to retain them loyal. To conclude, the effect and relationship of service quality, customer satisfaction and customer loyalty has been exposed and established.
models and hypotheses were accepted and considered significant. In this study, since it was reconfirmed that service quality had a significant effect on customer satisfaction, it paves way for customers being loyal and being evangelists by spreading positive word of mouth. The higher the service quality the higher the customers are satisfied and loyal customer may retain with the hotel. To overcome the drawbacks of ABC hotel Colombo, it was recommended to increase the quality of service, empathies of staff and satisfy customers to retain them loyal. To conclude, the effect and relationship of service quality, customer satisfaction and customer loyalty has been exposed and established.
Cause interest rate but interest rate does Granger Cause stock returns. Finally, to check the result of the Granger Causality Test, a regression was run. The result of the regression shows that interest rate is a significant factor for stock return changes and interest rate has significant negative relationship with ASPI.