Institutional-Repository, University of Moratuwa
Welcome to the University of Moratuwa Digital Repository, which houses postgraduate theses and dissertations, research articles presented at conferences by faculties and departments, university-published journal articles and research publications authored by academic staff. This online repository stores, preserves and distributes the University's scholarly work. This service allows University members to share their research with a larger audience.
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Recent Submissions
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Analysis of seasonal and spatial patterns of pm2.5 in Sri Lanka using satellite-derived data
(Business Research Unit (BRU), 2025) Thamodya, KR; Dassanayake, SM; Jayasooriya, VM
Sparse ground monitoring and limited reliable evidence for policy hinder air quality management in Sri Lanka. This study employs satellite-derived PM2.5 data from the Global High Air Pollutants (GHAP) product for 2017–2022 using Google Earth Engine and Python, aggregating the data to analyse the temporal dynamics of the pollutant distribution at national and provincial levels. The results show a significant monsoon-driven seasonal cycle—highest concentration in January–March and lowest concentration during the mid-year Southwest monsoon, with a late-year rebound—and persistent spatial disparities, with the Western Province (especially the Colombo urban area) consistently elevated relative to the central highlands. An exploratory weekday analysis for 1 January–31 December 2022 indicates workweek increases that peak mid-to-late week and relax on weekends, underscoring anthropogenic influences. These findings provide a baseline climatology of PM2.5 for Sri Lanka, highlight periods and regions of greatest concern, and motivate targeted weekday traffic/industrial controls in urban hubs.
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Factors influencing adoption of QR code payment system: a study based in northern province, Sri Lanka
(Business Research Unit (BRU), 2025) Dhanushika, D; Paventhiran, S; Jenstana, A; Kuruppu, GN
Despite initiatives to promote digital financial solutions, the adoption of QR code payments among small vendors in Sri Lanka remains limited, particularly in the Northern Province, compared to more developed countries and regions within Sri Lanka, such as the Western Province. This gap persists despite the introduction of LankaQR by the Central Bank of Sri Lanka, which aims to facilitate digital transactions among SMEs through integration with popular payment applications. The transition to digital financial solutions has been accelerated by the COVID-19 pandemic and persistent economic challenges. Hence, this research aims to identify the " factors that affect small vendors in Sri Lanka in adopting QR code payment in Jaffna, Sri Lanka. The study adopts a qualitative research design and interpretivism approach, utilizing a purposive sample of 12 small vendors in Jaffna. The study used to gather data and analyze it using thematic to identify key determinants of behavioral intention toward adoption of QR payment. This study found that QR code payment adoption among small vendors in Jaffna is limited due to three main factors. Technological barriers include low digital literacy and unreliable internet connectivity. Behavioral factors involve perceived complexity, distrust, and fear of fraud. Socio-economic constraints, such as cash dependence, credit-based practices, and transaction costs, further restrict adoption, with cultural norms and generational differences reinforcing reliance on cash. The findings indicate that enhancing digital infrastructure, fostering trust through education, offering incentives, and engaging communities are vital for sustainable QR payment adoption in Sri Lanka.
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Analyzing the key determinants of propensity to credit card default among mobile banking app users in Sri Lanka
(Business Research Unit (BRU), 2025) Liyanagamage, IK; Jayarathna, WTL; Jayakaduwa, YDM; Jayalath, W; Kuruppu, GN
Credit card default is a rapidly growing financial challenge in Sri Lanka that poses a risk to individuals, financial institutions, and the economy. Despite advancements in digital banking and access to real-time credit card information, default values continue to rise, indicating that economic explanations cannot fully account for credit card repayment behavior. Hence, this study focuses on exploring behavioral drivers for propensity to credit card default, guided by behavioral finance theories such as overconfidence bias and present bias, along with the Theory of Planned Behavior, and financial literacy. A quantitative survey was conducted among 100 credit card holders who use mobile banking applications to manage their credit cards in the Colombo district, and the respondents were selected using convenience sampling. The Multiple regression results indicate that present bias and subjective norms significantly increase the propensity to default on credit cards, while overconfidence bias, attitude towards behavior, perceived behavioral control, and financial literacy were not statistically significant predictors within the Sri Lankan context. Overall, short-term decision making and social influences are key drivers of propensity to credit card default, even when users have access to real–time financial information through mobile banking
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Psychological and social determinants of repeated investment in pyramid schemes among gen z and millennials in southern province of Sri Lanka
(Business Research Unit (BRU), 2025) Vitharana, VKHT; Mahawanshakkara, YD; Sanjeewa, GPS; Kuruppu, GN
Pyramid schemes have been an emerging issue among Sri Lankan youth, particularly Generation Z and Millennials, who are most frequently lured by the high financial returns. Despite being illegal, pyramid schemes continue to thrive, and they lead to considerable financial losses and worsen the financial situations of the participants. This study aims to discover the psychological, social, and economic factors that influence Gen Z and Millennials to continue to invest in these extremely high-risk schemes and why some participants continue to fall victim to them repeatedly despite having lost money in the past. The study follows an interpretivism philosophy and qualitative study design with a specific focus on semi-structured in-depth interviews of Millennials and Generation Z who have fallen victim to pyramid schemes more than once. The sampling was achieved through snowball sampling, and the sample size includes 10 individuals who have fallen victim of pyramid schemes in Southern Province. Data is analyzed through a thematic analysis, with close attention to developing patterns and themes of investment behavior, emotional and social processes, and financial decision-making. This paper finds that both Gen Z and Millennial investors in Sri Lanka are motivated by a thirst for fast wealth, social factors, and cognitive biases, including overconfidence and the sunk cost fallacy, which result in repeated investment in pyramid schemes even after they incurred losses. Social networks, both offline and online, are important in supporting these behaviors. It is proven that the use of conventional regulatory warnings is now ineffective, with the focus on the use of behavioral science-supported strategies, including digital friction and loss-framed messages, that reverse the effect of the lure of these schemes.
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Behavioural intentions toward neo-banking adoption in Sri Lanka: analyzing institutional perspective
(Business Research Unit (BRU), 2025) Hirushan, LPAM; Navodya, KAC; Hansinee, GJVPK; Weerasinghe, WMPK; Kuruppu, GN
Neo banking represents a transformative shift in the global banking industry, offering digital-first services without the need for physical branches. Similarly, in the Sri Lankan context, although there is a rise in tech-savvy digital customer groups and competition from non-banking institutions offering innovative financial products and services, fully digital banking platforms, such as neo-banks, are still relatively new concepts that remain unexplored. In addition, with the Sri Lankan government introducing laws to transition towards a cashless economy through the Digital Framework 2030, the adoption of neo banking becomes essential for building a fully integrated cashless ecosystem. This results in the need to study the implications of the adoption of neo-banking in Sri Lanka. Accordingly, this research aims to identify the current situation of the Sri Lankan banking industry to introduce neo-banking from an institutional perspective. This study adopted an interpretivism research philosophy, employing a qualitative approach. The objective of the study was achieved by conducting in-depth interviews with key personnel within the top management of domestic commercial banks and fintech companies on the topic of digitalization, selected through purposive sampling. The data were analyzed using a thematic analysis approach using NVIVO software. The study finds that while digital transformation in Sri Lankan banks is advancing, its success hinges on aligning technology with customer needs, fostering fintech partnerships, and overcoming barriers such as regulatory constraints, uneven technological readiness, and gaps in digital literacy. This study emphasizes that embracing digitalization is essential for financial institutions to remain competitive in an increasingly digital-first economy. To this end, the study highlights the need for banks and policymakers to identify and address barriers and enablers to neo-banking.