Capital budgeting practices and firm performance : A comparative study of Australia and Sri Lanka
- Puwanenthiren, Pratheepkanth
- Authors: Puwanenthiren, Pratheepkanth
- Date: 2016
- Type: Text , Thesis , PhD
- Full Text:
- Description: This thesis disentangles two elements from the complex interdependent suite of key drivers of firm sophistication in capital-budgeting. Specifically, the relative sophistication of a firm (i.e. its nature) and the development level of the nation in which a firm is embedded (i.e. the nurture experienced by the firm). This research should enhance the development focus and process of nations (e.g., to what degree should national development be about raising the ability of individual firms or will raising national development act as a rising tide [that] raises all boats). The comparative data used in this study comes from 150 Australian (ASX200-index-listed) firms and 150 Sri Lankan (Colombo-stock-exchange-listed firms). The research questions are answered via a quantitative research design that uses primary and secondary data. The response rate to the questionnaire survey of firms was, 45 and 73 completed questionnaires from, respectively, Australia and Sri Lanka (an effective response rate of, respectively, 31.5 and 48.7 percent). Secondary data for 2003-12 are obtained from the ASX, CSE’s and SIRCA databases and are used to calculate return on assets, return on equity, Tobin Q, and earnings per share for the sampled firms. It was found that Australian firms tend to rely heavily on sophisticated capital-budgeting practices, but Sri Lankan relatively small firms prefer simple analysis methods and the larger firms tend to be as adept at sophisticated capital budgeting as their Australian counterparts. The choice of whether to use more sophisticated practices or simpler alternatives varies with a firm’s attributes as well as the level of economic and financial market development in its environment. Also, Australian firms tend to use capital-budget models with good-to-strong predictive power (except for ROE) and Sri Lankan firms tend to use capital-budget models with fair-to-poor predictive power. Further, the analysis of Australian firms tends to yield stronger and more statistically-significant results, than those generated by Sri Lankan firms.
- Description: Doctor of Philosophy
- Authors: Puwanenthiren, Pratheepkanth
- Date: 2016
- Type: Text , Thesis , PhD
- Full Text:
- Description: This thesis disentangles two elements from the complex interdependent suite of key drivers of firm sophistication in capital-budgeting. Specifically, the relative sophistication of a firm (i.e. its nature) and the development level of the nation in which a firm is embedded (i.e. the nurture experienced by the firm). This research should enhance the development focus and process of nations (e.g., to what degree should national development be about raising the ability of individual firms or will raising national development act as a rising tide [that] raises all boats). The comparative data used in this study comes from 150 Australian (ASX200-index-listed) firms and 150 Sri Lankan (Colombo-stock-exchange-listed firms). The research questions are answered via a quantitative research design that uses primary and secondary data. The response rate to the questionnaire survey of firms was, 45 and 73 completed questionnaires from, respectively, Australia and Sri Lanka (an effective response rate of, respectively, 31.5 and 48.7 percent). Secondary data for 2003-12 are obtained from the ASX, CSE’s and SIRCA databases and are used to calculate return on assets, return on equity, Tobin Q, and earnings per share for the sampled firms. It was found that Australian firms tend to rely heavily on sophisticated capital-budgeting practices, but Sri Lankan relatively small firms prefer simple analysis methods and the larger firms tend to be as adept at sophisticated capital budgeting as their Australian counterparts. The choice of whether to use more sophisticated practices or simpler alternatives varies with a firm’s attributes as well as the level of economic and financial market development in its environment. Also, Australian firms tend to use capital-budget models with good-to-strong predictive power (except for ROE) and Sri Lankan firms tend to use capital-budget models with fair-to-poor predictive power. Further, the analysis of Australian firms tends to yield stronger and more statistically-significant results, than those generated by Sri Lankan firms.
- Description: Doctor of Philosophy
Tourism governance for sustainable heritage tourism in Sri Lankan heritage destinations
- Authors: Sivanandamoorthy, Sivesan
- Date: 2016
- Type: Text , Thesis , PhD
- Full Text:
- Description: This thesis investigates tourism governance models for sustainable heritage tourism in Kandy, a world heritage city situated in central Sri Lanka. Additionally, it explains how the success of sustainable heritage tourism has underpinned sustainable livelihoods development from a socio-cultural perspective. The main objective is to find, identify and assess the influence of tourism governance on sustainable heritage tourism in Sri Lanka. Stemming from this approach is the development of a tourism governance model for sustainable heritage tourism in Kandy. This thesis is intended as a response to the challenges of adopting a sustainable livelihoods development approach. Accordingly, it investigates the role sustainable heritage tourism plays in host community development within the context of sociocultural, economic and environmental aspects in Kandy. Employing a qualitative methodological approach, this thesis is underpinned by an interpretive research philosophy. Research data was collected through field-based in-country interviews and open-ended questionnaires as this approach allowed respondents to offer more information and to include their feelings, attitudes and understanding of the subject. Research results from in-country fieldwork reveal that tourism governance models have a major influence on the viability of sustainable heritage tourism at Sri Lankan heritage destinations. Macro-scale and micro-scale factors were found to be influential in tourism governance models. Additionally, sustainable heritage tourism was found to be a persuasive factor in host community development. Research from this thesis provides policy recommendations and potential management frameworks for tourism practitioners and policy makers. These insights into Kandy and other Sri Lankan heritage localities enable improvement of tourism governance systems and sustainable heritage tourism.
- Description: Doctor of Philosophy
- Authors: Sivanandamoorthy, Sivesan
- Date: 2016
- Type: Text , Thesis , PhD
- Full Text:
- Description: This thesis investigates tourism governance models for sustainable heritage tourism in Kandy, a world heritage city situated in central Sri Lanka. Additionally, it explains how the success of sustainable heritage tourism has underpinned sustainable livelihoods development from a socio-cultural perspective. The main objective is to find, identify and assess the influence of tourism governance on sustainable heritage tourism in Sri Lanka. Stemming from this approach is the development of a tourism governance model for sustainable heritage tourism in Kandy. This thesis is intended as a response to the challenges of adopting a sustainable livelihoods development approach. Accordingly, it investigates the role sustainable heritage tourism plays in host community development within the context of sociocultural, economic and environmental aspects in Kandy. Employing a qualitative methodological approach, this thesis is underpinned by an interpretive research philosophy. Research data was collected through field-based in-country interviews and open-ended questionnaires as this approach allowed respondents to offer more information and to include their feelings, attitudes and understanding of the subject. Research results from in-country fieldwork reveal that tourism governance models have a major influence on the viability of sustainable heritage tourism at Sri Lankan heritage destinations. Macro-scale and micro-scale factors were found to be influential in tourism governance models. Additionally, sustainable heritage tourism was found to be a persuasive factor in host community development. Research from this thesis provides policy recommendations and potential management frameworks for tourism practitioners and policy makers. These insights into Kandy and other Sri Lankan heritage localities enable improvement of tourism governance systems and sustainable heritage tourism.
- Description: Doctor of Philosophy
Spatial epidemiological investigation of sport and leisure injuries in Victoria, Australia
- Authors: Singh, Himalaya
- Date: 2018
- Type: Text , Thesis , PhD
- Full Text:
- Description: Sport and leisure injuries are recognised as a public health issue in Australia. Despite the many health benefits associated with sport and leisure participation, there is a risk of sustaining injury during participation. To keep Australia active, there is a critical need to prevent injury occurrence. Epidemiological investigations in sport and leisure injuries have been largely examined by grouping of sports, age groups, sex and level of play. In addition, intrinsic (person-level) factors have been considered, such as strength, flexibility or previous injury history. These factors may not be sufficient to identify injury burden or prevent an increase in injury incidences. In the broader injury literature (e.g., road traffic crashes or drowning), it is known that injuries often cluster within specific places (i.e., road intersections or bodies of water). These specific geographic locations may also relate to sport and leisure injuries (e.g., sports grounds or facilities). Similarly, population-level factors such as socio-economic status or cultural groups within an area could influence the types of sports and leisure activities people participate in and consequently, the injuries that occur. A review presented in this PhD thesis revealed that there is very limited sport and leisure injury epidemiological information from a geographical perspective. To address this gap, and determine whether there is a spatial pattern in sport/leisure injuries, the aim of this PhD was to examine the geospatial distribution of sport/leisure injury hospitalisations and their association with a broad range of social and economic characteristics. This thesis uses spatial epidemiological methods to answer questions such as ‘Where do sports and leisure injuries occur?’ and ‘In whom do sports/leisure injuries occur?’ The main chapters present the results of the application of spatial epidemiological methods to describe the problem, to test hypotheses and to explore associations with possible explanatory variables. The findings showed a significant variation across metropolitan, regional and rural areas in the pattern and clustering of injuries when examining different sports, age groups and other variables such as education level. A secondary aim of this thesis was to consider the dissemination of sport and injury epidemiological data. As emphasised in the literature, there is limited spatial epidemiological information available to decision-makers and key stakeholders. At best, descriptive maps might be included in a report or research paper. However, these are static and limited to the results that the author chooses to present. Therefore, an important output from this PhD is a web-GIS application that has been specifically built to enable the exploratory analysis of sport/leisure injuries in Victoria. Sport and leisure injury prevention strategies and policy development relies on information about where, when, to whom and how sport/leisure injuries occur. This thesis demonstrates that a spatial epidemiological approach is an important and novel way to address epidemiological questions from a geographical perspective.
- Description: Doctor of Philosophy
- Authors: Singh, Himalaya
- Date: 2018
- Type: Text , Thesis , PhD
- Full Text:
- Description: Sport and leisure injuries are recognised as a public health issue in Australia. Despite the many health benefits associated with sport and leisure participation, there is a risk of sustaining injury during participation. To keep Australia active, there is a critical need to prevent injury occurrence. Epidemiological investigations in sport and leisure injuries have been largely examined by grouping of sports, age groups, sex and level of play. In addition, intrinsic (person-level) factors have been considered, such as strength, flexibility or previous injury history. These factors may not be sufficient to identify injury burden or prevent an increase in injury incidences. In the broader injury literature (e.g., road traffic crashes or drowning), it is known that injuries often cluster within specific places (i.e., road intersections or bodies of water). These specific geographic locations may also relate to sport and leisure injuries (e.g., sports grounds or facilities). Similarly, population-level factors such as socio-economic status or cultural groups within an area could influence the types of sports and leisure activities people participate in and consequently, the injuries that occur. A review presented in this PhD thesis revealed that there is very limited sport and leisure injury epidemiological information from a geographical perspective. To address this gap, and determine whether there is a spatial pattern in sport/leisure injuries, the aim of this PhD was to examine the geospatial distribution of sport/leisure injury hospitalisations and their association with a broad range of social and economic characteristics. This thesis uses spatial epidemiological methods to answer questions such as ‘Where do sports and leisure injuries occur?’ and ‘In whom do sports/leisure injuries occur?’ The main chapters present the results of the application of spatial epidemiological methods to describe the problem, to test hypotheses and to explore associations with possible explanatory variables. The findings showed a significant variation across metropolitan, regional and rural areas in the pattern and clustering of injuries when examining different sports, age groups and other variables such as education level. A secondary aim of this thesis was to consider the dissemination of sport and injury epidemiological data. As emphasised in the literature, there is limited spatial epidemiological information available to decision-makers and key stakeholders. At best, descriptive maps might be included in a report or research paper. However, these are static and limited to the results that the author chooses to present. Therefore, an important output from this PhD is a web-GIS application that has been specifically built to enable the exploratory analysis of sport/leisure injuries in Victoria. Sport and leisure injury prevention strategies and policy development relies on information about where, when, to whom and how sport/leisure injuries occur. This thesis demonstrates that a spatial epidemiological approach is an important and novel way to address epidemiological questions from a geographical perspective.
- Description: Doctor of Philosophy
Conflict and conservation : sharing the costs and benefits of tiger (Panthera tigris) conservation in communities adjacent to tiger reserves in Nepal
- Authors: Bhattarai, Babu
- Date: 2020
- Type: Text , Thesis , PhD
- Full Text:
- Description: Human wildlife conflict (HWC) is a highly studied but unresolved aspect of wildlife management. To further knowledge on HWC, this study used a multidisciplinary approach to investigate HWC implications for local people living adjacent to two key tiger conservation reserves in Nepal. The study also assessed the potential to redistribute financial benefits accruing from predator conservation to those bearing costs through associated HWC. Secondary data and anecdotal reports suggest that local people experience significant direct and indirect costs from predator conservation through livestock losses following attacks by common leopards and Bengal tigers, and additionally, crop losses due to their prey species plus two mega herbivores (elephant and one-horned rhinoceros). To investigate this situation, data regarding HWC incidents and costs were sourced through interviews with 422 local households, direct observations, and stakeholder interviews. Collected data included livestock loss (5-year time-period) and crop loss (1-year time-period). Complementary direct observation data collated livestock loss and crop damage for 12 months. Interviews were conducted also with park visitors (N=387) and tourism business owners (N=74). Results showed that tigers are involved in significantly fewer depredation events compared to leopards. Leopards predominantly killed small to medium livestock whereas tigers selected both small to medium and large sized livestock. Livestock depredation events occurred more frequently in livestock corrals relative to forest zones or crop fields. Rates of livestock losses per household per year self-reported during interviews with local people were found higher when compared to those observed by direct measurement. Prey species of tigers and leopards (most often wild boar and chital) were involved in more frequently in crop raiding events, and caused more crop damage, when compared that caused by mega herbivores. Quantities of crops lost per household were lowest in communities where effective physical barriers to wildlife were present. Park visitors and tourism business owners indicated willingness to pay for conservation of tigers and for compensation of farmers for the losses caused by tigers and their prey species. Study findings support several key recommendations proposed to mitigate negative HWC effects in the study area. These include financial support for local communities to build predator proof livestock corrals and establishment of effective physical barriers at the park borders. A dedicated tariff for park visitors and a levy for tourism business owners are also recommended to fund ongoing predator conservation and support financial compensation for local farmers affected by HWC.
- Description: Doctor of Philosophy
- Authors: Bhattarai, Babu
- Date: 2020
- Type: Text , Thesis , PhD
- Full Text:
- Description: Human wildlife conflict (HWC) is a highly studied but unresolved aspect of wildlife management. To further knowledge on HWC, this study used a multidisciplinary approach to investigate HWC implications for local people living adjacent to two key tiger conservation reserves in Nepal. The study also assessed the potential to redistribute financial benefits accruing from predator conservation to those bearing costs through associated HWC. Secondary data and anecdotal reports suggest that local people experience significant direct and indirect costs from predator conservation through livestock losses following attacks by common leopards and Bengal tigers, and additionally, crop losses due to their prey species plus two mega herbivores (elephant and one-horned rhinoceros). To investigate this situation, data regarding HWC incidents and costs were sourced through interviews with 422 local households, direct observations, and stakeholder interviews. Collected data included livestock loss (5-year time-period) and crop loss (1-year time-period). Complementary direct observation data collated livestock loss and crop damage for 12 months. Interviews were conducted also with park visitors (N=387) and tourism business owners (N=74). Results showed that tigers are involved in significantly fewer depredation events compared to leopards. Leopards predominantly killed small to medium livestock whereas tigers selected both small to medium and large sized livestock. Livestock depredation events occurred more frequently in livestock corrals relative to forest zones or crop fields. Rates of livestock losses per household per year self-reported during interviews with local people were found higher when compared to those observed by direct measurement. Prey species of tigers and leopards (most often wild boar and chital) were involved in more frequently in crop raiding events, and caused more crop damage, when compared that caused by mega herbivores. Quantities of crops lost per household were lowest in communities where effective physical barriers to wildlife were present. Park visitors and tourism business owners indicated willingness to pay for conservation of tigers and for compensation of farmers for the losses caused by tigers and their prey species. Study findings support several key recommendations proposed to mitigate negative HWC effects in the study area. These include financial support for local communities to build predator proof livestock corrals and establishment of effective physical barriers at the park borders. A dedicated tariff for park visitors and a levy for tourism business owners are also recommended to fund ongoing predator conservation and support financial compensation for local farmers affected by HWC.
- Description: Doctor of Philosophy
True to nature? Fidelity and transformation in Eugene von Guérard’s antipodean landscape paintings
- Authors: Hook, George
- Date: 2021
- Type: Text , Thesis , PhD
- Full Text:
- Description: When the leading mid-nineteenth-century landscape artist in Victoria, Eugene von Guérard, was criticised for failing to illustrate nature sublimely, he replied that his “greatest desire” was to “imitate nature” as far as it was “compatible with the effect of the picture.” Later, he asserted that his aim was “to be true to nature as far as possible” in his art. This empirical, science-informed thesis explores what being “true to nature” meant in Guérard’s practice by examining natural features typically illustrated with fidelity, scrutinising features freely transformed for artistic effect, and assessing whether such transformations compromise his aesthetic ideal. The fieldwork-based study addresses a knowledge gap in Australian art history and environmental history by adopting a multi-disciplinary approach. The findings make a significant contribution to understanding what being “true to nature” meant for Guérard, and to determining whether his landscapes are reliable environmental history records. The investigation uses a mixed-method approach, combining qualitative and quantitative techniques. Early in-depth case studies identified faithfully rendered and freely modified features, which informed the development of an innovative survey instrument used to evaluate the fidelity of over a hundred of Guérard’s Antipodean landscapes. The extent to which natural features are faithful or transformed is subjectively assessed by comparing them with his accurate field drawings and modern site photographs taken from his vantage points. The novel reverse use of digital elevation models enabled many of his vantage points at sites to be precisely determined. Statistical analysis of survey data and further case studies leads to the conclusion that Guérard practised selective fidelity to nature. Although no natural feature was totally immune to being modified for artistic effect, many features are typically reproduced with great fidelity to the natural scenery visible at the site. Features significantly altered to create visually engaging or dramatic landscapes are usually found to be true to the natural history of the location, if not necessarily to the view. Exceptions are largely restricted to the composite landscapes that field research uncovered. Finally, the thesis examines whether Guérard’s fidelity practice resonates with particular purported influences, or parallels the practices of international contemporaries who were also renowned for their wilderness paintings.
- Description: Doctor of Philosophy
- Authors: Hook, George
- Date: 2021
- Type: Text , Thesis , PhD
- Full Text:
- Description: When the leading mid-nineteenth-century landscape artist in Victoria, Eugene von Guérard, was criticised for failing to illustrate nature sublimely, he replied that his “greatest desire” was to “imitate nature” as far as it was “compatible with the effect of the picture.” Later, he asserted that his aim was “to be true to nature as far as possible” in his art. This empirical, science-informed thesis explores what being “true to nature” meant in Guérard’s practice by examining natural features typically illustrated with fidelity, scrutinising features freely transformed for artistic effect, and assessing whether such transformations compromise his aesthetic ideal. The fieldwork-based study addresses a knowledge gap in Australian art history and environmental history by adopting a multi-disciplinary approach. The findings make a significant contribution to understanding what being “true to nature” meant for Guérard, and to determining whether his landscapes are reliable environmental history records. The investigation uses a mixed-method approach, combining qualitative and quantitative techniques. Early in-depth case studies identified faithfully rendered and freely modified features, which informed the development of an innovative survey instrument used to evaluate the fidelity of over a hundred of Guérard’s Antipodean landscapes. The extent to which natural features are faithful or transformed is subjectively assessed by comparing them with his accurate field drawings and modern site photographs taken from his vantage points. The novel reverse use of digital elevation models enabled many of his vantage points at sites to be precisely determined. Statistical analysis of survey data and further case studies leads to the conclusion that Guérard practised selective fidelity to nature. Although no natural feature was totally immune to being modified for artistic effect, many features are typically reproduced with great fidelity to the natural scenery visible at the site. Features significantly altered to create visually engaging or dramatic landscapes are usually found to be true to the natural history of the location, if not necessarily to the view. Exceptions are largely restricted to the composite landscapes that field research uncovered. Finally, the thesis examines whether Guérard’s fidelity practice resonates with particular purported influences, or parallels the practices of international contemporaries who were also renowned for their wilderness paintings.
- Description: Doctor of Philosophy
Human rights for or by the people? Securing economic, social and cultural rights in a post-war/post-conflict context
- Authors: Fernando, Dinesha
- Date: 2023
- Type: Text , Thesis , PhD
- Full Text:
- Description: This grounded theory (GT) study explores the economic, social and cultural (ESC) conditions and associated rights in post-war Sri Lanka during the past 10 years (2009– 2019). Tamils have been left in a challenging position after the war in terms of how other citizens have been perceiving them and their uniqueness has been disputed in terms of their rights. The overall position of the Tamils in the country has changed in recent history, which is a unique situation not only for the Tamils but also for the whole country. The 30-year Sri Lankan civil war is an important example of transformations during resettlement and the transitions back to normalcy. For many years, the war produced serious loss of life, assets and property, and in addition to these losses, the majority of people were affected either directly or indirectly. It is probably without choice that over the past decades, the Sri Lankans have faced significant economic, social, and cultural rights (ESCR) challenges, especially in the north of the country. In the 10 years since the Sri Lankan Government brought an end to the devastating civil war, the country has seen improvements in the overall security and freedom of movement, infrastructure, investment, and growth; yet there remain many ESCR challenges. This thesis identifies the forces that have been acting for and against securing ESCR for minority Tamils in post-war Sri Lanka. Specifically, the thesis identifies the strategies to secure ESCR in a post-war situation when ESCR are absent or insecure. The grounded-up nature of this thesis explores capturing the ESCR-related post-war experiences, attributes and learnings rather than gathering facts and describing acts. The thesis was designed to address the research questions in a direct manner: (1) What are the forces acting for and against securing ESCR for minority Tamils in post-war Sri Lanka; and (2) What would be the most effective strategies for securing ESCR for minority Tamils in post-war Sri Lanka? This constructivist grounded theory study collected qualitative data through in-depth, one-on-one semi-structured interviews and observations. In an effort to chart and examine what individuals and communities do in the absence of secure ESCR, I uncovered surprising and interesting coping strategies adopted by communities in their efforts to secure ESCR. A significant aim of this study was to share the results/findings with regional policymakers, especially in the north of Sri Lanka. Furthermore, with the availability of funds, this study could be expanded to incorporate a larger context in the form of a book published to assist in improving the lives of war-affected victims’ in terms of future access, promotion, protection and enjoyment of ESCR.
- Description: Doctor of Philosophy
- Authors: Fernando, Dinesha
- Date: 2023
- Type: Text , Thesis , PhD
- Full Text:
- Description: This grounded theory (GT) study explores the economic, social and cultural (ESC) conditions and associated rights in post-war Sri Lanka during the past 10 years (2009– 2019). Tamils have been left in a challenging position after the war in terms of how other citizens have been perceiving them and their uniqueness has been disputed in terms of their rights. The overall position of the Tamils in the country has changed in recent history, which is a unique situation not only for the Tamils but also for the whole country. The 30-year Sri Lankan civil war is an important example of transformations during resettlement and the transitions back to normalcy. For many years, the war produced serious loss of life, assets and property, and in addition to these losses, the majority of people were affected either directly or indirectly. It is probably without choice that over the past decades, the Sri Lankans have faced significant economic, social, and cultural rights (ESCR) challenges, especially in the north of the country. In the 10 years since the Sri Lankan Government brought an end to the devastating civil war, the country has seen improvements in the overall security and freedom of movement, infrastructure, investment, and growth; yet there remain many ESCR challenges. This thesis identifies the forces that have been acting for and against securing ESCR for minority Tamils in post-war Sri Lanka. Specifically, the thesis identifies the strategies to secure ESCR in a post-war situation when ESCR are absent or insecure. The grounded-up nature of this thesis explores capturing the ESCR-related post-war experiences, attributes and learnings rather than gathering facts and describing acts. The thesis was designed to address the research questions in a direct manner: (1) What are the forces acting for and against securing ESCR for minority Tamils in post-war Sri Lanka; and (2) What would be the most effective strategies for securing ESCR for minority Tamils in post-war Sri Lanka? This constructivist grounded theory study collected qualitative data through in-depth, one-on-one semi-structured interviews and observations. In an effort to chart and examine what individuals and communities do in the absence of secure ESCR, I uncovered surprising and interesting coping strategies adopted by communities in their efforts to secure ESCR. A significant aim of this study was to share the results/findings with regional policymakers, especially in the north of Sri Lanka. Furthermore, with the availability of funds, this study could be expanded to incorporate a larger context in the form of a book published to assist in improving the lives of war-affected victims’ in terms of future access, promotion, protection and enjoyment of ESCR.
- Description: Doctor of Philosophy
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