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Sabaragamuwa University Journal
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This is an Open Access Journal

Open Access journal
ISSN (Print) 1391-3166
Published by Sri Lanka Journals Online

[71 journals]

The Impact of Fiscal and Monetary Policy Changes on Investors' Investment
Performance: Empirical Evidence from Investors in the Colombo Stock
Exchange in Sri Lanka
- Abstract: The eﬀect of ﬁscal and monetary policy is transmitted in several ways by investor choice and the performance of investments. This study investigates how individual investors perceive government ﬁscal and monetary policy decisions and how they respond to such policy changes to make proﬁtable investments. The data were gathered from a diversiﬁed group of 364 individual investors in the Colombo Stock Exchange (CSE) by administering a structured questionnaire focusing on their opinions of ﬁscal and monetary policy changes. Factor analysis was carried out to identify the meaningful ﬁscal and monetary policy actions that determine individual investment decisions and performance. The results of multiple regression analysis show that the government’s choice of tax instruments has a signiﬁcant inﬂuence on stock returns and all taxes jointly depress investor investment performance. Government expenditure as a ﬁscal policy variable has a positive impact on investor returns, implying that a continual increase in government expenditure will result in the enhancement of ﬁrm proﬁts and returns to investors by allowing stock prices to go up. Thus, market participants might assume that expansionary ﬁscal policy signals an increase in future returns. Further, a decline in interest rates and an increase in money circulation under monetary policy impacts positively on investors’ investment performance. As expected, an increase in money circulation in the economy will persuade investors to invest more in stocks as extra funds are available. These results have important implications for both investors and stock market analysts in their eﬀort to understand the impact of ﬁscal and monetary policies on the stock return expectations of individual investors, but they should consider both ﬁscal and monetary policy decisions and their interactions together rather than in isolation. Published on 2020-12-31 00:00:00
The Impact of Financial Reporting Practices on Performance: A Study of
Small and Medium Enterprises in Rathnapura District, Sri Lanka
- Abstract: The objective of the study is to examine the impact of ﬁnancial reporting practices on the ﬁnancial performance of small and medium enterprises (SMEs) in Rathnapura District, Sri Lanka. This empirical study is based on the primary data through face to face interviews and administered questionnaires and secondary data through examining subject related books, published research papers, websites, statistical reports of the Central Bank of Sri Lanka and other institutions, and their speciﬁc regulatory factsheets. Data were collected from the total selected sample of 60 SMEs Statistical tools; hypothesis testing, descriptive statistics, and Multiple Regression Analysis are used to analyze and ﬁnd the result of the study. The designated measures of ﬁnancial reporting practices are ﬁnancial reporting practices, investment analysis practices, Inventory management practices, cash management practices, and ﬁxed assets management practices. The ﬁndings revealed that among the ﬁve selected independent variables, there was a variation of 93% (Approx.) of the ﬁnancial performance of SMEs due to changes in ﬁnancial reporting practices, investment analysis practices, inventory analysis practices, cash management practices and ﬁxed assets management practices that have been depicted in the model. Out of ﬁve variables, FR, IA, and FA management practices are highly supported to better ﬁnancial performance than that of the INA and CM practices. This paper provides useful information to the Government Ministries, Central Bank of Sri Lanka, Professional Bodies SME owners, researchers, accounting practitioners and other stakeholders in Sri Lanka for their involvement in making eﬀorts to the future development of SMEs. Published on 2020-12-31 00:00:00
Editorial
- Abstract: No abstract available Published on 2020-12-31 00:00:00
Impact of Samurdhi Program on Poverty Alleviation: An Empirical
Investigation of Samurdhi Beneﬁciaries in Kopay DS Division in Jaﬀna
district
- Abstract: The aim of this study is to investigate the impact of Samurdhi Program on poverty alleviation in Kopay DS Division. Two hundred questionnaires were issued to the Samurdhi beneﬁciaries of Kopay DS division, in Jaﬀna district, Sri Lanka Such as Kopay north (J/262),Irupalai South (J/257), Urelu (J/267) and Urumpirai south (J/265) divisions. Urelu (J/267) and Urumpirai south (J/265) divisions. Out of which, 177 questionnaires only could be collected. Hence, 177 Samurdhi beneﬁciary families were incorporated as samples. Correlation analysis and multiple linear regression analysis were used to analyze the data and examine the hypotheses by using the SPSS. The adjusted R2 0.250 for the model implies that approximately 25% of the total variance in poverty alleviation can be determined by all dimensions of Samurdhi program as the independent variable in this model. Further, the model reveals that the remaining 75% of variability was not explained in this model. In this study the ﬁndings revealed that there is a signiﬁcant impact of Samurdhi program on poverty alleviation. Microcredit has a positive and signiﬁcant impact on poverty alleviation. Livelihood activity has an insigniﬁcant impact on poverty alleviation. Welfare has a positive and signiﬁcant impact on poverty alleviation. Based on the ﬁndings the researcher can conclude that Microcredit and welfare activity is eﬀectively worked, and livelihood activity needs to improve itself. Published on 2020-12-31 00:00:00
Instilling Entrepreneurial Mind-Set through Entrepreneurship Education: A
Systematic Review of Literature
- Abstract: Entrepreneurship has never been more signiﬁcant than at the present moment, when economies across the world encounter the challenges of economic growth, connecting the inequality gap and solving social problems. Society necessitates individuals equipped with entrepreneurial and innovative skills, attitudes and behavior. Education is one way the government can grasp to create an environment for entrepreneurship. Entrepreneurship education has generated considerable interest in recent decades. More so, entrepreneurship education fosters entrepreneurial mind-sets, behaviors and capabilities in young people enabling them to create and lead new organizations and entrepreneurship educators are hence looking for pedagogies that enable students to be exposed to multiple experiences in entrepreneurial decision-making. However, the argument on the pedagogy of entrepreneurship education still remains agnostic. The ﬁnest outcomes in entrepreneurship education are achieved when students are exposed to action-oriented experiential learning that encourages problem-solving, creativity and peer evaluation. Building upon insights from existing literature, the ﬁndings suggest that, by embracing game-based learning model for entrepreneurship education, and design thinking approach in entrepreneurship education can foster entrepreneurial mind-set. Notably, business simulation games can play in the development of entrepreneurial capabilities in undergraduate students. Published on 2020-12-31 00:00:00
Nitrogen Uptake, Utilisation and Use Eciency of Dierent Wheat Species
- Abstract: Breeding wheat (Triticum aestivum L.) for high nitrogen use eﬃciency while maintaining adequate yield, is widely accepted as one of the approaches to maximise farmers’ revenue and minimise pollution risk. However, due to random hybridization events during evaluation and selective breeding for high yield, genetic diversity of existing bread wheat is narrowed down. The present study was conducted to investigate the nitrogen use eﬃciency and its components of ancient wheat species, a potential source to expand the genetic diversity of bread wheat. Three ﬁeld experiments were carried out in 2012, 2013 and 2014 at Sutton Bonington Campus, University of Nottingham, UK. Ten genotypes belonging to einkorn, emmer, spelt and modern bread wheat were used as genetic materials of the experiments and three nitrogen levels were compared. Nitrogen uptake eﬃciency, nitrogen utilisation eﬃciency and nitrogen use eﬃciency were calculated at harvest. Nitrogen use eﬃciency among genotypes varied signiﬁcantly and bread wheat recorded the highest value followed by spelt, emmer and einkorn. However, in general, nitrogen uptake eﬃciency was high in emmer and spelt compared to bread wheat. Nitrogen utilisation eﬃciency of bread wheat was always higher than ancient wheat genotypes resulting in high nitrogen use eﬃciency. Nitrogen supply has a negative relationship with nitrogen uptake eﬃciency. According to the results, it can be concluded that ancient wheat genotypes uptake more nitrogen hence high nitrogen uptake eﬃciency when compared to modern bread wheat. However, the ability to utilise nitrogen in the plants to develop grains is high in modern bread wheat. Published on 2020-12-31 00:00:00
Spatial Arrangements on Growth and Yield of Cowpea (Vigna unguiculata L.
Walp.) in Intercropping
- Abstract: This experiment was conducted at the Crop Farm of Eastern University, Sri Lanka to evaluate the eﬀect of diﬀerent spatial arrangements on growth and yield of cowpea (Vigna unguiculata L. Walp) under okra (Abelmoschus esculentus L.) cowpea intercropping in sandy regosol. The experiment was laid out in a Randomized Complete Block Design (RCBD) having monocropping and diﬀerent intercropping patterns. The results revealed that there was a signiﬁcant diﬀerence (P<0.05) among treatments for plant height, root length, leaf area, leaf area index, pod length, number of total and eﬀective nodules per plant, dry weight of eﬀective nodules and total pod yield of cowpea. However, seeds per pod was not signiﬁcantly diﬀerent (P>0.05) with diﬀerent plating patterns. The study concluded that 60 cm between two rows with 150 cm between two pairs of rows of okra with three rows of cowpea in between paired rows would be the most suitable planting system to get maximum growth and yield of cowpea. Published on 2020-12-31 00:00:00
Students’ Performance in Microeconomics: Evidence from Vavuniya
Campus, Sri Lanka
- Abstract: This study examined the factors aﬀecting the performance of undergraduate students in microeconomics at Vavuniya campus, Sri Lanka. For this purpose, a survey is conducted to collect the data using a sample of 85 students, who enrolled in microeconomics during their ﬁrst year ﬁrst semester in the academic year 2015/2016. The data on students’ performance in microeconomics measured in terms of their grades they obtained for the subject, demographic characters with family background and educational factors gathered from the questionnaire. The collected data was analyzed using frequency, chi- square test, ordered probit regression and marginal eﬀects in the study. Frequency of the students’ grades revealed that, nearly 59% of them got grade B while 9.4% of them received grade A and 4.7%of the students received grade D. Chi - square test found that family stress and frequency of the study habits signiﬁcantly associates with the students’ grades in the subject while the grade obtained in general English in G.C.E (A/L) and the usage of library facilities were less associated in the study. Results of ordinal probit model suggested that among the variables related to demographic characteristics with family background, gender and family stress are the good predictors of student performance in microeconomics whereas among educational factors allocation of time, economics as a subject taken by the students in G.C.E (A/L), mathematics knowledge and the usage of library facilities are the other best predictors in students’ performance in the subject. Published on 2020-12-31 00:00:00
Editorial
- Abstract: No abstract available Published on 2019-07-20 00:00:00
Environmental Protection through Judicial Review: The Sri Lankan
Experience
- Abstract: The world is facing many challenges and some of them directly relates to the survival of the mankind. The environment is degrading at rates never seen before and this is one such question that has created a discourse on the protection of the environment at a global level. For a small country like Sri Lanka with riches of environmental beauty and the bio-diversity, the degrading of its environment has causes serious concerns. One can argue that, this could be due to the lack of a justiciable right to a healthy environment meaning that no one as of a right can claim for a healthy environment. The fundamental rights chapter found in the 1978 Constitution of the Democratic Socialist republic of Sri Lanka does not have provisions to protect the environment under it and while the directive principles recognizes the importance of the environment and the corresponding duties of the citizens of the country to protect and safeguard it, it is however, not justiciable meaning not enforceable in a Court of law. In this backdrop, the mechanism of judicial review which strikes out arbitrary decisions of the governmental authorities have facilitated the lack of constitutional provisions regarding environmental protection. This paper ex- amines how and to what extent the Sri Lankan Courts have been successful in achieving this target through the use of judicial review. Published on 2019-07-20 00:00:00