- ItemAn Analysis of the Global Ranking of American Countries in the Travel and Tourism Competitiveness Index(Eastern University, Sri Lanka, 2019)This study examines the relationship of the Global Ranking of the American countries in their Travel and Tourism Competitiveness Index. The explained variable is Global Rank. The explanatory variables are Safety and Security, Human Resources and Labour Market, Business Environment, ICT Readiness, and Health and Hygiene. An inverse relationship is found between Global Rank and the factors such as Safety and Security, Health and Hygiene, Human Resources and Labour Market, and ICT Readiness. The most influencing factor is Human Resources and Labour Market. A direct relationship is found between Global Rank and Business Environment. The American economies and their policy makers should be aware of the factor which is increasing their Global Ranking position in the travel and tourism arena.
- ItemDynamic Relationship between Macroeconomic Variables and Stock Returns: Empirical Evidence in Case of Sri Lanka.(Eastern University, Sri Lanka, 2019)Linkages between macroeconomic variables (MV) and stock return are still obscure in developing counties as mixed results were observed by various researchers in different time intervals. Therefore, the objectives of the study are (i) to identify the relationship between MV (exchange rate, interest rate, inflation rate, money supply) and all share total returns (ASTRI) of listed companies in Colombo Stock Exchange (CSE) in Sri Lanka during 2010 to 2017 and (ii) to examine whether long run or short run causality running from MV to ASTRI of listed companies in CSE. Period of research data covers from 2010 to 2017. ASTRI of this period was collected from Data Library of CSE. Inflation rate, three-month primary market Treasury bill yield rate, Broad money supply (M2) and Exchange rate were collected from website of Central Bank of Sri Lanka. Descriptive, ADF test for unit root, Johnson co-integration test and VECM are used to analyse the collected data. Results show that ADF variables are stationary I(1). Johansen tests for cointegration reveals that there is one co-integration between MV and ASTRI. It is also noted that there is no significance short run causality from MV to ASTRI. However, it observed that out of four MV, exchange rate is notable negative impact on ASTRI in short run. It is concluded that in the long run, Interest rate and Money Supply have a positive impact on ASTRI whereas Exchange rate and Inflation rate have a negative impact on ASTRI. Findings of the study help to existing and prospective investors, mangers of the company and policy makers how MV to be considered to make decision as those variables impact on the stock return.
- ItemThe Impact of Imports on Inflation in Sri Lanka(Eastern University, Sri Lanka, 2019)The objective of this study is to examine the impact of imports on inflation in Sri Lanka using annual time series data from the period 1977 to 2017. The model estimated used inflation as a dependent variable, while imports, real gross domestic product, broad money supply (M2), exports and exchange rate as the explanatory variables. To test stationary, the Augmented Dickey Fuller Test was used. In addition to that, Long-run and short-run elasticity of the variables were examined using the Autoregressive Distributed Lag (ARDL) bounds test co-integration method proposed by Pesaran et al. (2001). An error correction modeling approach was applied to the double log functional form in order to investigate the significance and effect of Supply side and demand side inflationary factors to inflation in Sri Lanka. The unit root test results indicate that inflation and exchange rate are stationary at level [I(0)] but imports, real gross domestic product, exports, exchange rate and broad money supply have a unit root problem. But, when these variables are tested at first difference the problem of the unit root has disappeared and hence it has become stationary at first difference [I(1)]. The results of the ARDL bounds F test indicate that there is a long-run relationship among the variables. According to the results of ARDL in long-run, inflation rises up by 4.64% for every one percent increase in imports. The findings of this study confirm that imports have a positive impact on inflation in Sri Lanka and the impact is significant at 1% level.
- ItemA Study on the Career Aspirations of Undergraduates in Sri Lanka.(Eastern University, Sri Lanka, 2019)Study of career aspirations among undergraduates has become an important topic since undergraduates have been facing numerous challenges after completing their university degree. This study examined the determinants of career aspirations among undergraduates and the key challenges faced by them in choosing one. This study employed the mono method approach in the mixed method and so qualitative data were collected from 20 undergraduates from 04 universities and from 03 graduates who had passed out to conduct case studies based on their success stories; the findings from the semi-structured interviews were then analyzed and validated through thematic analysis. This study found that subjective norms, behaviour, and individual attitude were the factors that determined the career aspirations of undergraduates in Sri Lanka. Thus, the key issues that influenced the career aspirations of undergraduates were identified. This research provides significant insights into this matter for policymakers and decision makers working on reforms to the university education system of the Island so that the universities can contribute more meaningfully towards the career development of undergraduates.