ARC Colombo

219 Pages·2015·4.27 MB·English

ISBN: 9780989515047

PROCEEDINGS

OF
ARC 2015
III INTERNATIONAL
CONFERENCE ON APPLIED RESEARCH IN
BUSINESS, MANAGEMENT, ECONOMICS AND
FINANCE
August 14, 15th – 2015

SPONSORS

University of Kelaniya

CADEMICRESEARCH CONFERENCES
PROCEEDINGS
OF
ARC2015
III INTERNATIONALCONFERENCE ON APPLIED
RESEARCH IN BUSINESS, MANAGEMENT,
ECONOMICS AND FINANCE

August 14th , 15th – 2015

Editor
Kevin Smith
Educational Consultant
USA

HOSTED&ORGANIZED

Organizer:
Academic Research Conferences, India

Co-sponsor:
Academic Research Publishers, UAE

Co-sponsor:
University of Kelaniya, Srilanka
ARC 2015
WELCOME TO THE
III INTERNATIONAL CONFERENCE ON
APPLIED RESEARCH IN BUSINESS,
MANAGEMENT, ECONOMICS AND FINANCE

CHIEF GUEST

Professor Sunanda Madduma Bandara

Prof. Sunanda Madduma Bandara, the Vice-Chancellor of the University of Kelaniya
is a Senior Professor in the Department of Economics at the University of Kelaniya. He was
the Director General, Development and Communication of the Ministry of Economic
Development for the last several years. He was a former head of the Department of
Economics and held the position of Dean of the Faculty of Social Sciences from 2002 to 2010
at the University of Kelaniya. He has also served as the Director of the Department of
Information.
As a scholar and an Economics expert, Prof Sunanda has a long record of winning great
respect from his peers and colleagues. As Dean of the Faculty of Social Sciences, he was
instrumental in bringing about a remarkable increase in student enrollment, staff
development, curriculum development and other academic areas in the University. He has
a distinguished record serving as a member of the Presidential Task Force on Media,
Convener of the Press Institute of Sri Lanka, Chief Counsellor of the Youth Rehabilitation of
the Ministry of Youth Affairs, Director of the National Film Corporation, and Director of
the National Human Resources development Council. He has been a consultant to the
World Bank City development Program and also a Consultant to the Ministry of Policy
Planning and Implementation.
KEY NOTE SPEAKER

M.J.S. Wijeyaratne PhD
Senior Profesor and Chair
Department of Zoology and
Environmental Management
&
Chair of the Research Council
University of Kelaniya, Kelaniya, Sri Lanka

It is with great pleasure that I write this Foreword on the occasion of the III International
Conference 2015 on Applied Research in Business, Management, Economics and
Finance jointly organized by the Faculty of Graduate studies, University of Kelaniya and
Academic Research Conferences.

The four main areas addressed by the Conference, viz., Business, Management, Economics
and Finance are of utmost importance not only at individual country level but also at the
global level. Achieving sustainable economic development which fulfils the needs of every
human in the world is essential. Although the number of people living in extreme poverty
in the world has significantly decreased during the past two decades it is necessary to
reduce this further as everybody living on earth has the right to have basic needs of living,
such as food, water, clothing, shelter, sanitary facilities, education and proper healthcare. In
this regard, more research on food security, environment as well as management, business,
economics and finances are needed.
Not only conducting research but disseminating the knowledge gained through research is
also very important to reap the benefits of research. The III International Conference 2015
on Applied Research in Business, Management, Economics and Finance will undoubtedly
help to disseminate the new knowledge gained through research in these fields.
I wish this Conference every success.
INAUGURAL ADDRESS

Dr. Ravichandran Krishnamurthy
Associate professor and Director of Experiential Learning,
New York Institute of technology, Abudhabi Campus, UAE

An astute & result oriented professional with over 22 years of extensive experience in
operations, business development, academics and institution building. Currently employed
as Associate Professor and Director of Experiential Learning, New York Institute of
technology, Abudhabi Campus, UAE.
He holds the Post doctoral fellowship from University Kebangsaan Malaysia and Ph.D. in
Finance from the University of Madras, India. His area of expertise is primarily with
corporate finance and conducts focused research in the Behavioral finance and company
analysis. He has co- authored several text books in Finance which are mainly focused on
Indian markets. He made intellectual contributions that impact on the academic community
in the area of corporate and Behavioral fiancé through papers published in competitive
journals in this domain space (Finance India, Journal of investment, Money and Banking,
International Journal of Economics and Finance…). He has also made contributions through
service to the academic community, as recognition of his scholarship, through her inclusion
as a reviewer and/or discussant for several academic conferences and also acting as an
Editor of an International Journal. His research in the field of finance also resulted in
contribution to teaching and learning by way of the receipt of a NYIT ISRC grant award.
His Intellectual contributions have furthered higher education initiatives through his
continued collaborative experiential education work with students into the annual
Corporate Challenge Competition. His Intellectual contributions, by way of faculty-
mentored student research projects were presented by students at International conferences
and also got published International journals.
FOREWARD

Prof. Kulasena Vidanagamage,
Dean
Faculty of Graduate Studies
University of Kelaniya

It gives me immense pleasure to issue this congratulatory message to the ARC 2015-III
International Conference on Applied Research in Business, Management, Economics and
Finance which will be held in Colombo, organized by Academic Research Publishers.

I understand that Academic Research Publishers is organizing this International research
Conference for the third consecutive year with the intention of providing forum for
researchers in Business Management and Economics. Faculty of Graduate Studies,
University of Kelaniya, is extremely privileged to take part as academic partner of this
international conference and I have no doubt that this conference would be a great
opportunity to academics to present their research findings as well as transferring new
knowledge at an international forum.

As Dean of the Faculty of Graduate Studies, University of Kelaniya I congratulate the
presenters of this research conference and wish the ARC 2015 International Conference on
Applied Research in Business, Management, Economics and Finance all the success for their
work in the future.

Prof. Kulasena Vidanagamage
FOREWARD

Dr. RaedElzenaty, DDS, MBA
Director of Institutional Research & Assessment
New York Institute of Technology
Abu Dhabi Campus, UAE

It is a great pleasure to be invited to the ARC 2015- III International Conference on Applied
Research in Business, Management, Economics and Finance, and a privilege to write this forward.

It is a wonderful thing to encourage and broaden the realm of academic research to today’s world,
and an even better thing to bring academics and researchers together in the common bond of
academic research and development. The exchange of ideas and discussion of viewpoints is not
only precious but a necessary rung in the ladder to achieving global education initiatives.

It is my hope that the two days of the ARC 2015 International Conference on Applied Research in
Business, Management, Economics and Finance will encourage us all and enable us to bring home
the motivation to spread among our peers and students.

.

Sincerely,

Dr. RaedElzenaty, DDS, MBA
FOREWORD

Dr.K.PrakashVel,
Associate Professor,
University of Wollongong in Dubai.

It gives me immense pleasure in writing a foreword to the ‘Academic Research Conference 2015 in
Business, Management, Economics and Finance, being organized by Academic Research Publishers
at Colombo, Sri Lanka, during August 14h , 15th – 2015.

ARC is a forerunner in creating and exchanging knowledge in the field of Business Management
featuring major developments in the global economy and markets. They have been successful in
organizing conferences to exchange skills and acumen on theory and practice on current and
emerging management principles, ideas, concepts and research methods facilitating analysis among
academicians, scholars and students, both at the post graduate and doctoral levels. I strongly
believe that the conference would not only inspire the delegates participating from different parts of
the World, but also further add to the existing literature in different research domains in business
management.

I am positive that the two days‘International Conference would be beneficial to the participants. I
extend my sincere wishes for a successful conference.

Dr. K. PrakashVel
FOREWORD

Dr. R. Krishna
Director – PG Studies
CITech, Bangalore.

It is with immense pleasure that I write this Foreword for the the Proceedings of the International
Conference scheduled to be held on August 14,15th – 2015, organised by the Academic Research
Conferences/Publishers, Abu Dhabi, UAE

I am informed that the responses are overwhelming from all corners in the form of quality research
papers submitted for review/approval for presentation during the conference. I am sure, the
Proceedings of the conference will serve as an excellent reference book to the Management teachers
the world over. I trust also that this conference will be an impetus to stimulate further study and
research in all the areas.

Wishing Godspeed in all the endeavours.

Dr. R. Krishna.
FOREWORD

Gantasala V. Prabhakar, Ph.D
Assistant Dean, School of Management
&Associate Professor
New York Institute of Technology,
Abu Dhabi Campus, UAE

Knowledge stems from extensive research undertaken by the multitude of experts in
academia and the corporate. It then becomes quintessential that research-based findings that
contribute to extant knowledge must be shared. One of the integral elements of Nonaka and
Takeuchi’s SECI model is Knowledge Sharing. I have believed that bringing researchers from across
the globe working in their domains of expertise on a common platform is in the direction of creating
strong Communities of Practice. Academic Research Publishers has set a benchmark in organizing
these congregations of knowledge and research pools and presenting opportunities for knowledge
sharing and in turn fuelling possibilities of knowledge creation. ARC has successfully over the years
provided the base to present, discuss and enhance research developments in each of the
management functions.

ARC has also garnered increasing patronage of participants who represent all the major continents
and that in itself has been very inspiring and satisfying for me to be a part of their success. The
conferences organized have seen an overwhelming response from global experts and is a testimony
of the credentials that ARC embodies and has stood for.

It is my privilege to applaud their vision, their efforts and to be part of The III International
Conference on Applied Research in Business, Management Economics and Finance-2015. Given the
calibre of the participants and the values that are enshrined by conferences organized by ARC, I am
very assured that the two-day conference will be a resounding success and will draw appreciation
and support from all associated with this noble endeavour.

Gantasala V. Prabhakar, Ph.D