Cardiff Metropolitan University

Master of Business Administration

Cardiff Metropolitan University –UKCardiff School of Management

MBA

[IMPACT OF SUBJECTIVE NORMS AND BEHAVIORAL INTENTION IN INVESTING IN EQUITY MARKETS]

Submitted in March 2018 By Sithari Thanya Ranawaka (Student ID - [ST20115360] – [ST / Cardiff MB /13/22])

This dissertation is submitted in partial fulfillment Of the requirements for the degree of Master of Business Administration (MBA).

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DECLARATION This work is being submitted in partial fulfillment of the requirements for the degree of ……………………………………………………………………………….and has not previously been accepted in substance for any degree and is not being concurrently submitted in candidature for any degree.

Signed : ............................................................ (Candidate) Date

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SUPERVISOR’S DECLARATION STATEMENT

Student Name

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Supervisor’s Name : ……………………………………………………………

I acknowledge that the above named student has regularly attended the meeting, and actively engaged in the dissertation supervision process.

Signed : ............................................................ (Supervisor) Date

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TABLE OF CONTENT 1

INTRODUCTION ................................................................................................ 2 1.1

Research Background .................................................................................. 2

1.2

Research Problem ........................................................................................ 3

1.3

Significance of the Research ........................................................................ 3

1.4

Research Objectives ..................................................................................... 4

1.5

Queries pertaining for the research .............................................................. 4 1.5.1 Core Research Queries ...................................................................... 4 1.5.2 Substantial Research Questions ......................................................... 4

1.6

Significance importance of the Study .......................................................... 5

1.7

Possibility in scope and the Limitation ........................................................ 5

1.8

Delimitations ................................................................................................ 5

1.9

Limitations ................................................................................................... 5

1.10 Document Outline ........................................................................................ 5 2

LITERATURE REVIEW .................................................................................... 7 2.1

Conceptual Introduction............................................................................... 7 2.1.1 Planned Behavior Theory .................................................................. 7 2.1.2 Attitudes ............................................................................................ 7 2.1.3 Behavioral Intention .......................................................................... 8 2.1.4 Subjective Norms .............................................................................. 9 2.1.5 Empirical Findings ............................................................................ 9

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RESEARCH METHODOLOGY ..................................................................... .12 3.1

Content of the chapter ................................................................................ 12

3.2

Paradigm of Study...................................................................................... 12

3.3

The Study Philosophy ................................................................................ 13

3.4

Research Approach .................................................................................... 14

3.5

Psychological Factors Conceptualization In the study .............................. 15

3.6

Hypotheses ................................................................................................. 16

3.7

Populace for the study and testing ............................................................. 17 3.7.1 Populace for the study of the investigation ..................................... 17 3.7.2 Investigation sample ........................................................................ 17 3.7.3 Investigation sampling system ........................................................ 17 3.7.4. Data base of the investigation ......................................................... 17

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3.8

Instruments used for the studies ................................................................. 18

3.9

Analysis arrangement................................................................................. 18

3.10 Chapter Summary ...................................................................................... 18 4

DATA PRESENTATION AND ANALYSIS ................................................... 19 4.1

Chapter Introduction .................................................................................. 19

4.2

Reliability................................................................................................... 20

4.3

The Sampling Nature ................................................................................. 23 4.3.1 Gender ............................................................................................. 23 4.3.2 Age .................................................................................................. 24 4.3.3 Test in scholastic level .................................................................... 25 4.3.4 Effort work involvement in present organization............................ 26

4.4

Variable Analysis ....................................................................................... 26 4.4.1 Psychological Impact as the Independent Variable ......................... 27 4.4.2 Buying Intention as Dependent Variable ........................................ 31

4.5

Correlation Analysis .................................................................................. 33

4.6

Regression Analysis ................................................................................... 34 4.6.1 Multiple Regression Analysis ......................................................... 35 4.6.2 Hypotheses Testing ......................................................................... 37

4.7 5

Chapter Summary ...................................................................................... 37

CONCLUSION AND RECOMMENDATION ................................................ 38 5.1

Chapter presentation .................................................................................. 38

5.2

Findings of the investigation ...................................................................... 38

5.3

Relationships findings ................................................................................ 38

5.4

Discussion .................................................................................................. 39

5.5

Implication from the study to future learning ............................................ 40

5.6

Recommendations for the future studies.................................................... 41

5.7

Chapter Summary ...................................................................................... 43

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REFERENCES ................................................................................................... 44

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APPENDIX 1 – RESEARCH QUESTIONNAIRE ......................................... 47 7.1 Questionnaire for Investor Survey – English version……………………….47 7.2 Questionnaire for Investor Survey – Sinhala version………………………..50

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APPENDIX 2 – DATA ANALYSIS .................................................................. 53

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APPENDIX 3 – ETHICS APPLICATION FORM

10 APPENDIX 4 – DISSERTAION MEETING RECORD SHEET 11 APPENDIX 5 – DISSERTAION MARKING SCHEME

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LIST OF TABLES Table 4.1: Reliability in the method of Cronbach's alpha esteem……………………21 Table 4.2: The level in the sexual orientation and the frequency…………………… 23 Table 4.3: The level of Age and the frequency……………………………………… 24 Table 4.4: Level of instructive level and frequency………………………………….25 Table 4.5: Frequency and percentage of work experience in current company……...26 Table 4.6: Mean and standard deviation of Attitudes………………………………. 27 Table 4.7: Mean and standard deviation of Subjective Norms……………………… 28 Table 4.8: Mean and standard deviation of Perceived control in behavior…………. 29 Table 4.9: Psychological Influence Statistic………………………………………… 30 Table 4.10: Buying Intension Statistic………………………………………………. 31 Table 4.11: Correlation of variables and factors with Buying Intention……………. 33 Table 4.12: Model summary of Psychological Factors and Buying Intention……….34 Table 4.13: ANOVA of Psychological Factors and Buying Intention……………… 34 Table 4.14: Coefficient of Psychological Factors and Buying Intention……………. 35 Table 4.15: Multiple Regression Model summary…………………………………...35 Table 4.16: ANOVA Multiple Regression………………………………………….. 36

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LIST OF FIGURES

Figure 3.1: Conceptual Framework…………………………………………………. 16 Figure 4.1: Circulation in Gender…………………………………………………… 23 Figure 4.2: Sampling the Age……………………………………………………….. 24 Figure 4.3: Education level of test…………………………………………………. 25 Figure 4.4: Work understanding of the example…………………………………… 26

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ACKNOWLEDGEMENT First of all my grateful thanks go to Mr.Rohan Laksiri in University of Ruhuna and also Lecturer of Research Methods, MBA program in ICBT Southern Campus for his valuable guidance, constant encouragement, valuable comments, suggestions and theoretical expertise which help greatly to deal in narrowing down my study area and selecting a clear focus for my research. I express special thanks to the Prof. Mangala De Zoyza , Dr.Anula Tennakoon University of Ruhuna for giving guidance in all the subjects. I’m particularly grateful to thank Mr Sumith De Silva lecture in ICBT southern campus for giving me advice to succeed this attempt. I would also take this opportunity to thank all my lecturers in ICBT for their guidance, kindness and helping gestures. And also I thank all the staff of “ICBT southern campus”, especially to Mr. Varuna Wickramasinghe, Programme Coordinator of the ICBT Southern Campus who provided me all the required equipment and the necessary materials to complete this dissertation. I am grateful to and lucky enough to get constant support, guidance and encouragement from all staffs of Cardiff Metropolitan University and ICBT who helped me to successfully complete this study. Moreover, I would like to express my sincere regards to all non-academic staff of Cardiff Metropolitan University and ICBT for their timely support. I would like to thank my family members who back me up always. I must thank my loving friends for encouragement whenever I need and for making the everyday tasks more enjoyable. Without you all, this study wouldn’t have been a success to all the friends I made during my study period here, you all made it quite a memorable experience for me and I wish you all the best in your future endeavors.

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ABSTRACT The writer composed and gathered data by issuing questionnaire with the survey among 200 savers as investors in the field who finance in Colombo Stock Exchange. The SPSS software is used for the data analyze the as quantitative measureable type of data can be dignified with using proper statistical analysis methods. The acquired data examination in this chapter and encapsulate in summarizing all the findings, recommendations and conclusions. The writer delivers a valid and resource able recommendation and forthcoming inference grounded on discoveries. Mainstream in the scale of contributors in assessment reading indications stated rate as male 76% and the female contribution indication rate as 24%. The emotional and psychological relationship influences vary from female to male. Consequently, the taster sampling scope and gender diversification help to recognize the factual outcome and the real result of this learning.26% of the contributors according to the study in the category of 25 to 30 age and 23% of contributors according to the study in the category of 30 to 35. 20% and 14% of the respondents according to the study in the category which is of the 35 to 40 and 20 to 25. 9%, 5% and 3% of scholars be appropriate to 40 to 45, 45 to 55 and grander more than to 55.34%, mainstream as the majority taken from the contributors skilled with government GCE A/L with 24% experienced through diploma. 25% consumed a gradation in degree and 4% consumed specialized built condition. 3% consumed particular additional appropriate requirement rendering for their occupation standard in investing Corporation. The standard, had one to three-year work knowledge for 56% of contestants, had three to five-year experience for 29% of contestants. 15% of contestants in the education had much minus than one year familiarity in knowledge. The independent variable Perceived Behavior, Subjective Norms, attitudes, and Intention of buying had optimistic, durable high association. The factors such as Perceived Behavior, Subjective Norms, Attitudes and is positively co related with the Buying Intention of the investor. According to the multiple regression which calculated in the study it proves there is a positive and also strong relationship with all independent variables and the dependent variable of buying intention. Hence the author of the study accepted all the hypothesis developed in research methodology chapter and rejected null hypothesis in the same. To drive the above conclusion author of the study used quantitative resulting hypothesizes as the author has followed the quantitative and evocative research method in the commencement of the study. MBA 7099 ST20115360

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1. INTRODUCTION 1.1 Research Background Persons in this unbalanced condition in the necessity to settle proceeding with the quantities of the selections which are properly effect their conducts of lifespan for one day in frequently. Nevertheless, the most prejudiced selections which they established on is the speculation selections of their individual since it enunciated the single flourishing and their aims in extended track. At the time span and in more frequently most of the financial authorities and experts are well bearing in mind about the hazard reoccurrence exchange off when resolving on their personal venture adoptions or else the selections. Internationally the setting the financial experts have in excess of single methodology to put their cash predominantly in land safety promote stock exchange, currency market and gold market. Regardless in the condition of the Sri Lankan the utmost broadly consumed venture practice is funding their currency on securities exchange. The wander of the stock market is more risky than some other theory technique as the examiners are in danger only for the waiting compensation of the stocks that stay ensuing to paying each huge responsibility. During the past examinations in history trying to talk about this intrinsic environment of the peril with particular models that attempted the association among danger in risk at the shares and the typical reoccurrence of the stocks. Capital Assets esteeming Model, Fama and French Three Factor Model, Arbitrage Pricing Model are a bit of the procedures used by the scholastic and specialists. This investigation won't converse the econometric procedures for the endeavors somewhat converse the Influence of Psychology on social point in placing assets into money marketplaces with uncommon orientation to Colombo Stock Exchange. Individuals in unsteady status essential to settle on quantity of decisions that impact their lifestyles for single day in normally. In any case, the most impacted varieties of selections that they established on is the theory adoptions of their individual since it enunciated the single flourishing and their objectives in extended track. Every now and again the budgetary experts are fine bearing in mind about the danger return trade off when settling individually wander decisions. In overall setting the money related masters have more than one way to deal with put their trade especially out property safety publicize stock trade, gold market and cash market. Regardless in Sri Lankan state the most extensively used wander method is funding their money on sanctuaries trade. The Stock market MBA 7099 ST20115360

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wander is more hazardous than some other hypothesis technique as the examiners are in danger only for the waiting reimbursement of the shares in stocks that stay resulting to paying each critical responsibility. In past examinations in history striving to talk about this characteristic nature in situation of the exposure with exact representations that endeavored the association among risk hazard of the shares and ordinary reoccurrence of the shares in stocks. Investment Resources regarding Model, Fama and French Three Factor Model, Arbitrage Pricing Model are a piece of methods of insight utilized by specialists. 1.2 Research Problem In modern domain in the world the legitimacy of the representations that talk about the hazard and reoccurrence of the speculation and the desires of financial specialists are liable to numerous reactions. The predominant circumstance started the development of new ways to deal with discover the conclusions of purchasing conduct of speculators in regards to the shares in stocks. By way of the back field of the nation is stirring in the direction of behavioral invest in financing as one of the genuine consuming theme the behavioral parts of speculation choices are critical than major methodologies. This change reveals a few ways to deal with approve the social behavioral fund methods of insight in the back world. The current confirmation likewise uncovers that the silly conduct which directed by the intelligence investigation of the speculators is one of the main influential components aimed at the venture choice. There is a desperate necessity of scholastic research here to set up the legitimacy of the behavioral attributes of people in settling on speculation choices. 1.3 Significance of the Research Since the social behavioral life partner is innovative knowledge to the money related scholastics particularly in the nation like Sri Lanka that bigger measures of ventures are straightforwardly put resources into securities exchanges there ought to be appropriate examinations need to complete. Contrasted and econometrical money related hypothesis thinks about the behavioral fund contemplates are still not very many in the examination writing. Consequently this investigation is meant to locate the behavioral fund by embracing the celebrated perfect in the brain research called Planned Behavior Theory. Indicated one of the nonexclusive representations which can be connected to clarify the

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conduct of the general population. Consequently as examined in before the use of the mental models to financial specialist's conduct is consuming zone and this broadsheet will be incredible commitment to this field. Since the behavioral life accomplice is innovative information for the cash related scholastics specifically in the nation alike Sri Lanka which greater measures in endeavors are direct placed assets into securities trades there should be fitting examinations need to finish. Differentiated and econometrical cash related theory considers the behavioral store mulls over are as yet not a lot of in the examination composing. Thus this examination is intended to find the behavioral reserve by grasping the commended show in the mind look into called Planned Behavior Theory. This is unique of the nonexclusive representations which can be associated with clear up the lead of the all-inclusive community. Thus as analyzed in before the utilization of the psychological models to monetary expert's lead is devouring zone and this paper will be somewhat unimaginable responsibility regarding this field. 1.4 Research Objectives •

To fundamentally assess and investigate the effect of states of mind headed for the aim of purchasing conduct of speculators of Colombo Stock Exchange

•

To fundamentally assess and investigate the effect of subjective standards headed for the aim of purchasing conduct of the financial specialists of Colombo Stock Exchange

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To fundamentally assess and investigate the effect of apparent conduct control headed for the aim of purchasing conduct of the financial specialists of Colombo Stock Exchange

1.5 Queries pertaining for the research 1.5.1 Core Research Queries What is the Influence of Psychology on behavioral desire in intention into capital markets in placing resources with consideration to Colombo Stock Exchange? 1.5.2 Substantial Research Questions •

What is the effect of states of mind towards the goal of purchasing conduct or else the buying behavior of the financial specialists of Colombo Stock Exchange?

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What is the effect of subjective norms towards the aim of purchasing conduct or else the buying behavior of the financial specialists of Colombo Stock Exchange?

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What is the effect of perceived behavior control towards the expectation of purchasing conduct or else the buying behavior of the financial specialists of Colombo Stock Exchange?

1.6 Significance importance of the Study •

This inspection would be serious due to beneath causes

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This will give a generous on the association among psychosomatic influences and intention of buyers of the depositors in CSE

1.7 Possibility in scope and the Limitation •

The stated investigation would be serious owing to beneath causes

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The stated will contribute a generous on the connection among psychosomatic influences and purchaser intention of the stockholders in CSE

•

Over and done with this investigation, a widening conception in linking among psychosomatic influences and buyer purpose of the investors in CSE

1.8 Delimitations •

The investigation is limited to Savers in CSE as it were.

•

This investigation is constrained among psychosomatic influences and buyer purpose of the stockholders in CSE

1.9 Limitations •

Numerous limits have been apparent in this investigation. The multi-layered nature of these limits could mark the advance of this analysis.

•

Psychosomatic Influence is a phenomenon which could have frequent potentials manipulating other than growth, advancement and prizes forecasts.

1.10 Document Outline •

The report design elucidates the way that maker takes after all the way, achieve the objectives of the examination and deal with the investigation issue by using five one of a kind parts. Each part covers relatively basic section of the examination.

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The presentation is the essential segment of this investigation. The area gives the reasoning to pick this scrutiny issue and current establishment of it.

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The second share focuses and illuminates the examination domain by using the past writing done by various makers. The maker comprehensively clears up the mental variables with the material models and differing conflicts of the particular creators or the researches.

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The third segment illuminates the investigation rationality which thoroughly elucidates the inspection sequence and system that the maker needs to take after to achieve the inspection objectives viably.

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The fourth part focuses on data presentation and investigation the same is accept a basic part in this examination. The result of this investigation remarkably consequences for section five and proposition.

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The fifth area focuses on clearing up the achievement of objectives in light of the got realizes the fourth part. Additionally, this segment discusses components, for instance, proposition and further implications of this investigation zone which motivate future researcher in this examination zone by including imperative zones that can focus

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2. LITERATURE REVIEW 2.1 Conceptual Introduction 2.1.1 Planned Behavior Theory Beforehand arrive in to the exploitation of the model this area appearances belongings of the theoretical founding and its mode. The behavior TPB is an augmentation of the captioned theory of Coherent Act. A bit of the researches showed the Theory of Reasoned Action (TRA) has taken for fruition as a result of mien ask about from the expectation regard illustrate. The TRA is identified with the think coordinate. Notwithstanding, indicated uncovered that the direct isn't 100% presented up willfully and controlled properly, understood the growth of apparent resistor. By way of this augmentation, the hypothesis was named Theory of Planned Behavior / (TPB). TPB goes as speculation the same guesses think lead, in bright of the way that the direct can be premeditated and orchestrated. 2.1.2 Attitudes The same suggests in what way ample a fellow has a good or horrible evaluation of the conduct of attention. It comprises an impression of the aftereffects of in performance available in out as the straight. Precisely when this smears to the proposal switching outline theory the consequence of the behavior is the commonplace originate from the philosophy. The financial leading may be announced to positive or ominous form, if the money related expert cannot achieve the usual proceeds return as measured and taken in to the custody by his or her estimate that is bothersome condition and if the monetary expert can accomplish the standard return stated is perfect situation. AAs the behavioral life accessory is new data to the trade related scholastics particularly out the nation like Sri Lanka that more noteworthy measures of attempts are immediate put resources into securities exchanges there ought to fit examinations need to wrap up. Separated and econometrical money related hypothesis considers the behavioral store thinks about are up 'til now not a great deal of in the examination forming. Along these lines this examination is proposed to locate the behavioral hold by getting a handle on the praised appear in the mind investigate called Planned Behavior Theory. This is one of the nonexclusive models which can be related with clear up the lead of the comprehensive group. In this manner as broke down in before the usage of the mental

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models to fiscal master's lead is eating up zone and this paper will be unfathomable duty with respect to this field. 2.1.3 Behavioral Intention Captioned model delineates the behavioral point by way of the factors of motivation that influence certain coordinate someplace the additional stranded the want to play on view the lead; the more reasonable the immediate will be accomplished. Intend to buy participates in the suggestion exchanging structure is actuated by a few variables. Higher return veered from other open ways for theory, if the money related master will see threat, the researcher will get additional reoccurrence (FantuChekol, n.d.) In like way, the uncommon money related supervisors who are fit for bearing more perils want to buy suggestions and extra possible the lead will be accomplished. The liquidity is other starting variable. The intimacy of discretionary report inspires the cash related managers to propose their proposals when they pass on to the stand them. Thusly, the currency associated specialists who checkered for the liquidity share of the proposals have an additional stranded want to purchase exceptionally liquid deals and which are much more in possible the instant will be achieved. Additionally, a pair of money related professionals have a viewpoint that, having a better than average philosophy range is a communal capacity. Those budgetary experts have a more grounded want to buy offers and more possible the immediate will be accomplished (FantuChekol, n.d.). The model depicts the behavioral point as impact guaranteed motivational variables that lead where the extra stranded the need to play out the direct; the more probable the lead will be performed. Would like to purchase stocks in the offer interchanging structure is influenced by a couple of components. Advanced yield wound from further open avenues for theory, if the cash related ace will see risk, the forecaster will get extra profit (FantuChekol, n.d.) In like way, the exceptional cash related masters who are fit for bearing more risks need to purchase proposals and more conceivable the quick will be achieved. The other beginning influence is the liquidity, the proximity of optional connection asks the money related pros to propose their proposals when they pass on to the table them. Along these lines, the cash related specialists who take a gander at for the liquidness part of the proposals have a more stranded need to acquisition exceptionally fluid agreements and

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more conceivable the quick will be performed. Additionally, a few cash related authorities have a point of view that, having a superb hypothesis range is a social volume. Those budgetary professionals have a more stranded need to acquisition suggestions and more conceivable the quick will be achieved (FantuChekol, n.d.). 2.1.4 Subjective Norms This suggests the conviction around whether by far most of the people bolster or contradict the conduct. It relates to a man's conviction around whether aristocracies what's more, people of noteworthiness to the single consider he or she should partake in the conduct. It is the typical penchant for the all-inclusive community to get the points of view of the sidekicks already settling on basic decisions. A money related master moreover, advises a couple of theorists in the stock promote and will get a couple of signs about the openings available in case they place assets into shares (Beukes and Wyk, 2016). The model depicts the behavioral point as the motivational factors that influence definite lead where the more stranded the desire to performance out the direct; the more credible the lead will be accomplished. Plan to acquisition of the stock in shares in the offer trading system is impelled by several factors. Higher return wandered from other open lanes for speculation, if the cash related expert will observe hazard, the scholar will acquire more return (FantuChekol, n.d.) 2.1.5 Empirical Findings Behavioral spare considers as one such of creative focuses in the background. Behavioral store has taken in to the gravity in considering by various assessors and money related consultants starting trade viewpoints. The Theory of Planned Behavior is a degree understanding of Theory of Anticipated Action in that elucidates as joined by the behavioral control. Theory of Planned Behavior gave all the more clear help to the examination a wide blueprint of behavioral needs over the most recent two decades. Furthermore, the Theory of Planned Behavior has been associated at numerous methods to contract with oversee coordinate assume behavioral objective. For example, related hypothesis to tear down open connection inspiration, this utilized the theory in examining executive choices and a bit of the academes used hypothesis of planned provoke test behavioral focus in web stock exchanging et cetera. Of course, the Theory of Planned

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Behavior has been utilized by to take a look at factors influencing trade related authorities' prompt out Stock Exchange. Their examination related Basic Equation Modeling (SEM) on 472 single budgetary masters' for the review obviously, the Theory of Planned Behavior has been used to look at factors affecting cash related specialists' lead in Colombo Stock Exchange. Their examination related Basic Equation Modeling (SEM) on 472 particular money related specialists' for the outline. As delineated, characters, subjective lead, Ajzen (1991) benchmarks and saw controller coordinate are totally effect on persons' wind point (Beukes and Wyk, 2016). The investigation demonstrated that, introduction of the sexual has high gathering concerning the connection between path toward theory and four identity explore factors which viewed self as (significance, irrelevant remarkable sureness, cerebrum research of peril and heard lead), connection between character toward hypothesis and wind point, connection between subjective measures and speculation want furthermore relationship between watched controls direct and wander point. The Theory of Planned Behavior with the cash related execution of the association Behavioral spare is one of innovative focuses in the background. Behavioral store has been considered by different agents and money related masters from trade facts of view. The Theory of Planned Behavior is a degree cognizance of Theory of Expected Action in that clarifies a behavioral control has been joined. Over the most recent two decades, Theory of Planned Behavior gave more obvious help to the examination a wide assembling of behavioral needs. Moreover, the Theory of Planned Behavior has been associated at various ways to deal with oversee direct presume behavioral objective. For instance, related hypothesis to tear down open alliance inspiration, this utilized the hypothesis in think administrative choices and a piece of the academes used theory of orchestrated incite test behavioral objective in web stock exchanging et cetera. On the other hand, the Theory of Planned Behavior has been utilized by to take a gander at factors affecting cash related experts' prompt in Colombo Stock Exchange. Their examination related Basic Equation Modeling (SEM) on 472 singular budgetary stars' for the review. On the other hand, the Theory of Planned Behavior has been utilized to take a gander at factors affecting trade related pros' quick out Colombo Stock Exchange. Their

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examination related Basic Equation Modeling (SEM) on 472 singular cash related specialists' for the review. As spoke to, pretense, subjective lead, Ajzen (1991) benchmarks and saw control organize are absolutely influence on people's meander point (Beukes and Wyk, 2016). The considered investigation demonstrated that, sexual presentation consumes high great blend concerning the association between way toward hypothesis and four character investigate factors which considered (vainglory, insignificant extraordinary sureness, cerebrum research of threat and heard lead), relationship between route toward philosophy and wind point, relationship between subjective checks and theory need what's more connection between watched control coordinate and meander point. The Theory of Planned Behavior with the money related execution of the affiliation.

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3. RESEARCH METHODOLOGY 3.1 Content of the chapter The investigation infers prescribed in deliberately way to deal with find the response for the current matter in the overall population. The expert wants to accumulate the statistics by using earlier examination and assemble data to accomplish the inspection investigation points. The third area converses the method that the maker method the investigation, technique that usages by the pro to adequately whole the examination. 3.2 Paradigm of Study The investigation is the utmost master way to deal with finds the finest response for recognized research matter by using expert abilities, experiences and thoughtful plan. The essential entity essentials to do ensuring to picking an enquiry topic is to pick a technique aimed at inspecting the analysis issue. The investigation method depends upon the analysts 'disciplinary. Research perspective could be used in dealing with specific investigation matter by using a thinking case in gathering and in addition conviction, characteristics and strategies to stated maker (Chilisa and Kawulich 2012).Schwandt 2001 alluded to in Chilisa and Kawulich (2012) cleared up perspective by way of using point in view about research matter to comprehend the same by using feelings with the characteristics which is taking after in the general population. Around there is a distinctive sort of investigation perspective named axiology, epistemology and cosmology. Transcendentalism suggests what detective of investigator puts stock in connected to the examination domain. Epistemology infers the technique that data contract associated to the investigation domain and axiology suggests morals in ethics which take after by the expert. In the stated this investigation, the maker routines epistemology investigate perspective to endure with the inspection and finding the response for the examination issue. Behavioral hold is single of imaginative concentrations in the back. Social store has been anticipated by different surveyors and cash related specialists from exchange points of view. The Theory of Planned Behavior is a gradation comprehension of Theory of Contemplated Action in that clears up a behavioral control has been joined. Over the latest two territories, Theory of Planned Behavior gave more clear help to the examination a wide storing up of behavioral needs. Likewise, the Theory of Planned Behavior has been related at dissimilar methods to manage supervise organize expect MBA 7099 ST20115360

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behavioral target. For example, related speculation to tear down open association motivation, this used the speculation in center complete decisions and a territory of the academes utilized hypothesis of sorted out incite test behavioral concentration in web stock trading and whatnot. Then again, the Theory of Planned Behavior has been used by to look at factors influencing budgetary specialists' incite in Colombo Stock Exchange. Their examination related Basic Equation Modeling (SEM) on 472 particular budgetary specialists' for the survey. Obviously, the Theory of Planned Behavior has been used to look at factors influencing exchange related specialists' fast out Colombo Stock Exchange. Their examination related Basic Equation Modeling (SEM) on 472 particular money related experts' for the audit. As addressed, misrepresentation, subjective lead, Ajzen (1991) benchmarks and saw control orchestrate are totally impact on individuals' breeze point (Beukes and Wyk, 2016). The examination showed that, sexual introduction has high blend concerning the relationship between course toward speculation and four identity explore factors which considered (affectedness, immaterial excellent sureness, cerebrum research of danger and heard lead), relationship between way toward hypothesis and wander point, relationship between subjective checks and hypothesis require what's more association between watched control direct and wind point. The Theory of Planned Behavior with the cash related execution of the affiliation 3.3 The Study Philosophy Investigation theory illuminates differing points in view of the domain which can practice to see an issue. The distinct insight coordinates in appreciating reality in the world. The written work cleared up four unmistakable sorts of research logic, for instance, Interpretivism, positivism, authenticity and subjectivism (Mkansi and Acheampong 2012). Positivism suggests research the checkup concern with convinced data. Moreover, it works inside the general rules and bearings of the overall population. Validness suggests reality of the issue an area according to reality of the general population Interpretivism infers in excess of one course of action open to the specific investigate issue. Common sense suggests the mixed methodology, blend of inter positivism and positivism. Stated centralization of captured exploration is to check the association amid

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the two elements in mental factor and purchasing expectation of financial specialists. The Positivism is using the way of the investigation reasoning. Examination hypothesis lights up contrasting focuses in perspective of the can practice to see issue. The distinct insight organizes in acknowledging reality on the planet. The composed work cleared up four unmistakable sorts of research rationale, for a specimen, Interpretivism, positivism, credibility and subjectivism (Mkansi and Acheampong 2012). Positivism recommends explore the checkup concern with persuaded information. In addition, it works privileged the overall tenets and direction of the general populace. Validness recommends reality of the issue a territory as per reality of the overall public Interpretivism construes more than one game-plan open to the particular explore issue. Good judgment recommends the blended technique, mix of bury positivism and positivism. Expressed centralization of captured exploration is to check the relationship in the midst of the two components in mental factor and buying desire of budgetary pros. The Positivism is utilizing the way by method for the examination thinking. 3.4 Research Approach There are unique kinds and unmistakable kinds of research methods as regulate in Stern (2004) called qualitative, quantitative, and mixed procedure. The maker essentials to pick an examination methodology by making an allowance for picked investigate perspective, picked ask about theory as each one of those components are related with each other. The examination perspective of the stated examination is that the usage of positivism and epistemology as research cognitive of the inspection. Positivism considers examiner generally uses the theories in hypotheses and gathers the critical association in perspective of themselves. Additionally, the master usages all the additional written work to perceive the material factors to consider the cozy association. The positivism explore method practices quantitative investigation method for facts assembly and reasonable research method for data examination as the two data amassing and data examination procedure works with quantifiable data. Interpretivism contemplate in perspective of the subjective data approach for data gathering and inductive research approach for data examination as this kind of research perspective tries to make new theory as demonstrated by the circumstance. Down to business investigate method could be used both subjective and quantitative approach for data amassing and deductive and inductive approach for data examination. Quantitative examination is coordinated remembering an

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ultimate objective to describe effects of enthusiastic insight on work execution. The cross-sectional process will be used and the social occasion of data for the investigation will be accumulated at a comparative stage. Research Study method is going to be used as a piece of demand to forward with this investigation. Here are unique kinds and unmistakable sorts of research techniques as control in Stern (2004) called subjective, quantitative, and blended strategy. The creator basics to pick an examination methodology by offering a leeway for picked explore point of view, picked get some information about hypothesis as every single one of those segments are connected with each other. The examination point of view of the expressed examination is that the use of positivism and epistemology as research psychological of the investigation. Positivism considers analyst by and large uses the speculations in theories and accumulates the basic relationship in context of themselves. Furthermore, the ace uses all the extra composed work to see the material variables to think about the comfortable affiliation. The positivism explore strategy rehearses quantitative examination strategy for realities meeting and deductive research method for data investigation in two data collecting and data examination system works with quantifiable data. Interpretivism think about in setting of the subjective data approach for information assembly in gathering and inductive research method for information examination as this sort of research viewpoint tries to make new hypothesis as appeared by the situation. Down to business investigate methodology could be utilized both subjective and quantitative approach for information hoarding and deductive and inductive approach for information examination. Quantitative examination is empowered looking into an uncommon target to portray impacts of eager learning on work implementation. The cross-sectional process will be used and the get-together of data for the examination will be accumulated at a close stage. Research Study system will be used as a touch important to forward with this investigation. 3.5 Psychological Factors Conceptualization In the study Example to the mental methodology and scholarly shrewdness relates to the control of over-all knowledge in the arena of scholarly in procedures which copy the involvement and finding a few solutions with reference to subjective frameworks (Schaie, 2006). Notwithstanding the way which together are distinct conceptions, both mental variables and scholarly insight focus on overall knowledge. The conceptualization and figured

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construction both accept a basic share in the quantitative investigation reflect as it uncovers the chosen workings to evaluate each factor in the inspection. The mental elements is the self-governing factor and business shows are the destitute variable of this inspection. The researcher uses factors named Perceived Behavior, Subjective Norms and Attitudes to check the mental components mutable of this investigation. The poor variable action shows could be evaluated by using parts. Figure 3.1: Conceptual Framework Conceptual Framework in the form

Source: Author 3.6 Hypotheses •

Ho No Positive connection amongst Independent variable of Attitudes and Dependent variable of Buying Intention

•

H1 There is a Positive connection amongst Independent variable of Attitudes and Dependent variable of Buying Intention

•

Ho There is No Positive connection between Independent variable of Subjective Norms and Dependent variable of Buying Intention

•

H2 There is a Positive connection between Independent variable of Subjective Norms and Dependent variable of Buying Intention

•

Ho There is No Positive connection between Independent variable of Perceived Behavior and Dependent variable of Buying Intention

•

H3There is a Positive connection between Independent variable of Perceived Behavior and Dependent variable of Buying Intention

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3.7 Populace for the study and testing 3.7.1 Populace for the study of the investigation Stated is the basic to recognize the entirety of the investigation to procedure an examination. The quantity of tenants in this examination is each one of the delegates the one who put Colombo Stock Exchange in Sri Lanka 3.7.2 Investigation sample Agents who are connected with the investing corporations and the business in Sri Lanka over a year has taken for the case of stated examination as they have sufficient comprehension to clear up probability of work atmosphere and the psychosomatic influence of the action on them. The exact 200 delegates (assessment quantity) taken from Colombo Stock Exchange in Sri Lanka 3.7.3 Investigation sampling system The creator prerequisites the precise outcome toward the finish of stated examination. Subsequently, the creator desires to lessen the predispositions of examination in information gathering and choice the advantageous example as of overhead specify populace. In this way, the creator utilizes irregular examining procedure which chooses the people inadvertently 3.7.4 Data base of the investigation There are two major categories of data bases with various sorts of data bases used up in the diverse investigation papers, for instance, fundamental bases of data and assistant bases of data. Fundamental source of data infers to gather the immediate facts by using the main data source to the examination. In basic data source, it accumulates imperative data in light of the inspiration driving the examination. The fundamental data amassing procedure is review, gatherings, examinations and hands on work. Fundamental data gathering is monotonous and necessities to contribute an impressive measure of cash. Discretionary facts suggests facts assembling by certain other individual previously the maker of the specific explore. Assistant data source infers investigate papers, reports of assessment division, books, yearly report, and magazines. The maker can accumulate the assistant data by donating slight cost and inside noteworthy period confinement. The maker uses together fundamental data foundation and discretionary data connector for this examination.

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3.8 Instruments used for the studies Stated self-managed survey is used to accumulate data as it is an all the extra reasonable technique in getting-together the compulsory data. Self-developed likert scale questionnaire used after testing validity and the reliability for the same. 3.9 Analysis arrangement Stated self-guided survey is used to accumulate data by way of it is a further unprejudiced technique for gathered the compulsory data. Similarly, consent from selected sample of the responded are engaged and the same are guaranteed which the collected information remembered mystery keeping the true objective to make the respondent energetically declared mandatory information with no imprisonment. 3.10 Chapter Summary Captioned section clarifies exploration heading of this investigation through thinking about different procedures and strategies. The creator utilizes research epistemology worldview of this examination as it clarifies the method used to identify with the decided exploration zone. The examination theory of this investigation is positivism rationality. As per the exploration worldview and look into rationality, the creator chose research approach as quantitative for information gathering and research approach as deductive for information investigation. Both essential information source and auxiliary information base used to gather the vital information for this investigation. The creator arbitrarily chose 200 financial specialists who put rebases into CSE as members for review examine.

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4. DATA PRESENTATION AND ANALYSIS 4.1 Chapter Introduction The fourth part of this examination ponder centers around dissecting the gathered information by utilizing essential information source. The creator made survey that trials every tool by exploiting five Likert scales. The information gathered in scattering the poll amongst the example chose over speculators of Colombo Stock Exchange. The creator utilizes email; online networking and individual contact to gather the information in various speculators speak to the financial specialists of Colombo Stock Exchange. The creator utilizes diagrams and tables to clarify the idea of the example and every factor. This examination demonstrates the significance of related factor and psychological factors to the Intention of buying of the speculators. the Psychological Factors upgrades decision of Buying Intentions. In the future think about, the specialised authorities can apply this idea in numerous work-settings particularly culturally diverse to enhance this investigation additionally. The specialists can utilize other connected elements to Psychological Factors using with stated five and check again and again the verified and most suitable appropriate factors to do this learning.The creator can utilize a few different ventures identified with this examination as the discoveries of this investigation just can be be applied for the future learnings. Indviduals in this insecure situation essential to settle on amount of decisions that impact their lifestyles for single day in usually. More much of the time the budgetary authorities are well allowing for about the danger return trade off when settling alone wander decisions. In any case in Sri Lankan condition the most comprehensively used wander procedure is contributing their money on securities trade. The Stock market wander is more risky than some other hypothesis procedure as the examiners are in danger only for the waiting compensation of the shares that visit consequent to paying each huge duty. In historical examinations in past trying to converse this characteristic environment of the danger with particular models that attempted the association among threat of the stocks and the ordinary return of the stocks. Capital Assets esteeming Model, Fama and French Three Factor Model, Arbitrage Pricing Model are a segment of the approachs used by scholastics and experts. This examination won't discuss the econometrical techniques for the endeavors rather discuss Indithe Impact of Psychology on behavioral

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point in placing assets into capital markets with outstanding reference to Colombo Stock Exchange. 4.2 Reliability This has a place with sociology inquire about as it tries to quantifiable the human conduct. Drost (2015) communicated that unwavering quality is a vital estimation while checking the conduct or ascribes identified with the human. Further, the creator clarifies that when consider identified with the human's conduct and thought, it is basic to gather information few time as their mentalities can differ. A similar outcome can be gotten unwavering quality is the steadiness of estimation or else soundness of estimation in various state and the condition. Bollen 1990 refered to in Drost (2015) clarified dependability is the portion of the measureable in the sense quantitative research examine and clarify about the irregular mistake which can present by the survey. According to clarification of the Kimberlin and Winterstein (2008) dependability could be utilized to gauge the capacity in different time and forming check interim steadiness of the tools or else the instruments. Dependability can be estimated by utilizing Cronbach alpha esteem. The unwavering quality esteem feast among 0.00 to 1.00, the higher dependability esteem shows the higher stability. After making the survey of the investigation, the writer did the pilot consider by utilizing 25 members to comprehend about the fidelity of the instruments that utilized as a part of the questionnaire to gauge each influence. The table 4.2 clarifies the unwavering quality esteems got by every one factor cast-off to gauge every factor. This has a place with human science ask about as it tries to quantifiable the human lead. Drost (2015) imparted that unflinching quality is a crucial estimation while checking the lead or credits related to the human. Further, the maker clears up that when think about related to the human's lead and thought, it is fundamental to assemble data few time as their attitudes can vary. A comparative result can be gotten immovable quality is the dauntlessness of estimation or else soundness of estimation in different state and the condition. Bollen 1990 refered to in Drost (2015) cleared up steadfastness is the part of the measureable in the sense quantitative research look at and illuminate about the unpredictable error which can display by the overview. As per illumination of the Kimberlin and Winterstein (2008) trustworthiness could be used to measure the limit in various time and forming check between time dauntlessness of the apparatuses or else

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the instruments. Steadfastness can be evaluated by using Cronbach alpha regard. The resolute quality regard feast among 0.00 to 1.00, the higher steadfastness regard demonstrates the higher security. Subsequent to making the review of the examination, the essayist did the pilot consider by using 25 individuals to fathom about the loyalty of the instruments that used as a piece of the questionnaire to check each impact. The table 4.2 illuminates the steadfast quality regards got by each one factor push off to check each factor. Table 4.1: Reliability in the method of Cronbach's alpha esteem

Source: SPSS Output The creator utilizes inquiries for the quantification Perceived Behavior, Subjective Norms and Attitudes, and which practices to gauge Intention of buying of speculators, autonomous mutable of this learning. Due to the done clarified previously, the tools or else the instruments that give solidness estimation desires to record Cronbach's alpha esteem much in more than 0.7 (Drost, 2015).The Cronbach's alpha estimation of Attitudes was 0.953 that is more noteworthy than 0.7 and more like one. This implies Attitudes recorded most astounding Cronbach's alpha esteem. The esteem uncovered that every one of the inquiries used to gauge Subjective Norms can get steadiness brings about various circumstance and times. The Cronbach's alpha estimation of Subjective Norms indicated was 0.899 which is more prominent than 0.7 and more like one. This implies Attitudes recorded most noteworthy Cronbach's alpha esteem. The esteem uncovered that every one of the inquiries used to quantify Subjective Norms can get steadiness brings about various circumstance and times. The Cronbach's alpha estimation of Perceived Behavior was 0.912 which is more prominent than 0.7 and more like one. This implies Perceived Behavior recorded most elevated Cronbach's alpha esteem. The esteem

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uncovered that all the used to quantity in measuring motivation can get strength brings about various circumstance and times. The needy mutable variable taken of this examination was the intention of buying and the creator utilized inquiries to quantify this. The Cronbach's alpha estimation of the Intention of buying was 0.897 the same is more noteworthy than 0.7 and more like one. This implies Buying Intension recorded most noteworthy Cronbach's alpha esteem. The esteem uncovered that every one of the inquiries cast-offing used to quantify speculator exhibitions can get soundness brings about various circumstance and times. The creator utilizes ask for the estimation Perceived Behavior, Subjective Norms and Attitudes, and which practices to check Intention of acquiring of scholars, self-decision variable of this learning. Due to the done explained as of now, the mechanical assemblies or else the instruments that give vigor estimation needs to record Cronbach's alpha respect much in more than 0.7 (Drost, 2015).The Cronbach's alpha estimation of Attitudes was 0.953 that is more basic than 0.7 and more like one. This surmises Attitudes recorded most surprising Cronbach's alpha respect. The respect uncovered that every last one of the demand used to check Subjective Norms can get tirelessness accomplishes distinctive circumstance and times. The Cronbach's alpha estimation of Subjective Norms showed was 0.899 which is more unmistakable than 0.7 and more like one. This proposes Attitudes recorded most basic Cronbach's alpha respect. The respect uncovered that every single one of the demand used to quantify Subjective Norms can get steadfast quality acknowledges distinctive condition and times. The Cronbach's alpha estimation of Perceived Behavior was 0.912 which is more observable than 0.7 and more like one. This gathers Perceived Behavior recorded most raised Cronbach's alpha respect. The respect uncovered that all the used to sum in assessing motivation can get quality accomplishes distinctive condition and times. The destitute alterable variable taken of this examination was the expectation of purchasing and the maker used request to measure this. The Cronbach's alpha estimation of the Intention of purchasing was 0.897 the same is more vital than 0.7 and more like one. This infers Buying Intension recorded most essential Cronbach's alpha regard. The regard revealed that each one of the request cast-offing used to evaluate theorist shows can get soundness realizes different condition and times.

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4.3 The Sampling Nature The fundamental factor and the influence of the examination ponder recognizes the idea of test as it profoundly impacts on the last after resulting effect of the investigation. In this area, the creator clarifies the idea of members of the overview examine. The further knowledgeable financial specialists can with greater experience complete a great job by partaking at the examination. The creator utilizes recurrence, percentage with the outlines to elucidate the idea of test as in a comprehensible very much understandable way. 4.3.1 Gender Table 4.2: The level in the sexual orientation and the frequency.

Source: SPSS Output As indicated by Table 4.2, captured lion’s share of members were male which speaks to 76% then female contributors were 24% in this investigation. It is fundamental the two members as both female and male psychosomatic nature is unique in relation for each other. Likewise, the enthusiastic contextual varies from male to female or else female to male.. The sex circulation clarifies in Figure 4.1. Figure 4.1: Circulation in Gender

Sorce: Established by utilizing SPSS

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4.3.2 Age Table 4.3: The level of Age and the frequency

According to Table 4.3, most of the members has a place with 25 to 30 age classification that speaks to 26%. 23% of the financial specialists speak in between and to the 30 to 35 age gathering. 20% and 14% of members speaks to the 35 to 40 age gathering and 14% of 20 to 25 age bunch separately. 9%, 5% and 3% of financial specialists speaks to 40 to 45 age gathering, 45 to 55 age group, and in excess of 55 age bunch separately. Figure 4.2 clarifies the age appropriation by utilizing a pie summary in outline. Figure 4.2: Sampling the Age

Source: Established by utilizing SPSS

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4.3.3 Test in scholastic level Table 4.4: Level of instructive level and frequency

As per the discoveries, there are not at all the members who have Master qualified or GCE O/L in this example. Lion's share of the members have 34% in GCE A/L capability. 24% of the members partake recognition capability in stated example. 25% and 4% expressed that the captured potential have degree and level of expert capability. 13% of the members have other pertinent capability by way of the business. Figure 4.3 clarifies the idea of instruction capability of the members. Figure 4.3: Education level of test

Sorce: Industrialized by utilizing SPSS

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4.3.4 Effort work involvement in present organization Table 4.5: Frequency and percentage of work experience in current company

Source: Author As the Table 4.5 indicated by, the most extreme number out of members have years of one to three- involvement in present investor association the same speaks to 56%. 29% and 15% of financial specialists have years of three to five encounter and short of what one year involvement in their present association correspondingly. Figure 4.4 clarifies the appropriation vividly in vividly in graphics. Figure 4.4: Work understanding of the example

Work experience 29%

15%

56%

< 1 years

1 - 3 years

3 - 5 years

Source: Industrialized by utilizing SPSS 4.4 Variable Analysis The vital area in the examination ponder is with the investigation the submitted responses by members by way of it clarifies the perspective of themselves tendency. The creator utilizes standard deviation and mean as it clarifies the great influences the factors about the opinion of members. The creator clarifies the standard deviation of each factor and the methods with every factor to comprehend the present situation the place of Colombo Stock Exchange respect with the Investor’s buying Intention.

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4.4.1 Psychological Impact as the Independent Variable The autonomous variable called mental effect estimated in utilizing three components named Perceived Behavior, Subjective Norms and Attitudes. The creator clarifies standard deviation and mean of each tool in this segment and toward the conclusion at the end, it clarifies the Psychological Impact rundown. Attitudes Table 4.6: Mean and standard deviation of Attitudes

Source : Author The estimation of mean in SA1and SA5 were 2.70and 2.66 separately concurring to table 4.6. As indicated by the mean esteems, the vast majority of the members expressed as dissent, unbiased of unequivocally differ generally. The mean estimation of SA2, SA3, and SA4 was 3.26, 3.26 and 3.26 individually. Thusly, specified creator can express that the vast majority of the members have a reasonable and the respected moderate level of

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comprehension about states of mind of them. Additionally, the greater part of them neglect to conceal their feelings from others. The estimations of standard deviation of the SA1, SA2, SA3, SA4 and SA5 individually is 1.16, 1.32, 0.82, 0.82, and 1.06. All the standard deviation esteems are bigger means the appropriate responses gave by members shift in bigger variety in range. Subjective Norms Table 4.7. Indicates the mean and standard of investigations in inquiries the same in used to quantify Subjective Norms appeared in. Table 4.7. Mean and standard deviation of Subjective Norms

Source :Author The estimation of mean in SN2, SN 3, SN 4, and SN 5 were 2.74, 2.54, 2.50 and 2.60 separately as indicated by table 4.7. As indicated by the mean esteems, the vast majority of the members expressed as dissent, unbiased of firmly differ generally. Hence, the creator can express that the vast majority of the members have not great comprehension in the about of subjective standards of them. Additionally, a large portion of them neglect MBA 7099 ST20115360

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to perceive the feeling and the explanations for those feelings. The estimation of mean in SR1 was 3.24 that suggests which a normal amount of the members can comprehend when they drop temper. The standard deviation estimations of the SN 1, SN 2, SN 3, SN 4 and SN 5 individually is 0.82, 1.13, 1.16, 1.35, and 0.92. All the estimations of the standard deviation are bigger, the appropriate responses gave by members fluctuate in bigger variety or a range. Seen control in behavior Table 4.8. Consists of the mean and standard of inquiries that has used to quantify Perceived Behavior Controller appear in. Table 4.8: Mean and standard deviation of Perceived control in behavior

Source: Author The estimation of the mean in PB1, PB 2, PB 3, were 3.06, 3.30, 3.12 separately that is under 4. Despite the fact that the mean estimation in PB1, PB 2, PB 3. All things considered, the standards and the values under four. This implies a large portion of the members have not great with controlling factor in perceived behavior. The standard deviation of PB1, PB 2, PB 3 were 0.74, 1.05, 0.84, individually. Every one of the qualities are bigger means the appropriate responses given by members fluctuate in bigger variety in range. The mean a standard deviation estimation of the Psychosomatic Impact was 2.8528 and 0.91127 separately. As indicated by the mean esteem, it suggests MBA 7099 ST20115360

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the low Psychological Impact of the members. The set of submitted responses change in gauge run as 2.44. Table 4.9: Psychological Influence Statistic

Source; SPSS

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4.4.2 Buying Intention as Dependent Variable Table 4.10: Buying Intension Statistic

Source: SPSS The Intention of purchasing in the standard deviation and the mean was 3.11 and 0.80016 independently. Standing to the mean esteem, it proposes the Intention of buying as low of the donors. The given reactions fluctuate in ale go as 2.60. The Intention of purchasing in the standard deviation and the mean was 3.11 and 0.80016 independently. Standing to the mean esteem, it recommends the Intention of buying as low of the patrons. The given reactions change in ale run as 2.60. Factors. Connection is a way to specify the connection among the two factors by utilizing one figure. Connection esteems extent amongst +1 and - 1 as clarified in (Rebekić et al., 2015). At the point when at the while connection esteem under 0 implies negative esteem and when it is more noteworthy than 0 implies optimistic connection. Further, the exploration paper clarified that connection investigation clarifies the heading of the relationship. For instance, positive relationship implies when one mutable factor

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increment by one unit another mutable factor likewise increments. Negative relationship implies when one variable reduction by one unit other variable reductions their qualities. The hugeness of the relationship uncovers by the p-estimation of connection coefficient table. In this examination, the creator utilized Pearson connection esteem for understanding the connection between factors. The creator test relationship just for the independent variable, subordinate variable, and components of the independent variable and ward variable. The p-estimation of Attitudes, Subjective Norms, and Perceived Behavior was rendered as 0.00 for each. As indicated by the p-esteem or sig estimation of the components and free factor, the creator can express that there is a significant connection amongst Attitudes and Buying Intention, Subjective Norms and Buying Intention, Perceived Behavior and Buying Intention. The Pearson relationship estimations of Attitudes, Subjective Norms, and Perceived Behavior was 0.882, 0.927, 0.918 and 0.815.All the qualities remain in more like eight and nine. Along these lines, the creator can express that connection amongst Attitudes and Buying Intention, Subjective Norms and Buying Intention, Perceived Behavior and Buying Intention is certain. The Intention of obtaining in the standard deviation and the mean was 3.11 and 0.80016 autonomously. Remaining to the mean regard, it suggests the low Buying Intention of the sponsors. The given responses move in brew keep running as 2.60. The Intention of acquiring in the standard deviation and the mean was 3.11 and 0.80016 freely. Remaining to the mean regard, it suggests the less Buying Intention of the supporters. The given responses differ with the large scale keep running as 2.60. Factors. Association is a road to offer in the association between the two factors by using one figure. Relationship regards spread among +1 and - 1 as illuminated in (Rebekić et al., 2015). Exactly when association regard under 0 infers negative regard and when it is more important than 0 suggests positive relationship. Further, the investigation paper cleared up that association examination elucidates the course of the relationship. For example, positive relationship infers when one variable augmentation by one unit additional factor furthermore upsurges. Negative connection suggests when one variable decrease by one unit other variable decreases their characteristics.

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Table 4.11: Correlation of variables and factors with Buying Intention

Source: SPSS The centrality of the association uncovers by the p-estimation of connection constant table. In this examination, the creator utilized Pearson connection esteem for thoughtful the connection between factors. The creator test connection just for the independent variable, subordinate variable, and components of the independent variable and ward variable. The p-estimation of Attitudes, Subjective Norms, and Perceived Behavior was 0.00 for each. As indicated by the p-esteem or sig estimation of the components and free factor, the creator can express that there is a significant connection amongst Attitudes and Buying Intention, Subjective Norms and Buying Intention, Perceived Behavior and Buying Intention. The Pearson relationship estimations of Attitudes, Subjective Norms, and Perceived Behavior was 0.882, 0.927, 0.918 and 0.815.All the qualities remain in more like eight and nine. Along these lines, the creator can express that connection amongst Attitudes and Buying Intention, Subjective Norms and Buying Intention, Perceived Behavior and Buying Intention is sure 4.5 Correlation Analysis The correlation examination is one of study that uses to recognize the relationship of the facts and factors. Correlation is a method to indicate the relationship between the two factors in variables by consuming one figure. Correlation values feast between +1 and 1 as explained in (Rebekić et al., 2015). When connection value less than 0 means negative value and when it is larger than 0 means positive relationship. Extra, the research paper clarified that correlation analysis enlightens the direction of therelationship. As a sample, positive connection means when one factors increase by one unit alternative variable factor also increases. Negative relationship incomes when one variable reduction by one component other variable reductions their values.

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4.6 Regression Analysis Considering the back slide factors use to expect the poor mutable factor in light of the free factor. Coordinate backslide examination gives the data about the association between the independent and region variable. In this examination, there is only a solitary self-governing variable and this call bivariate backslide or straight backslide examination. Exactly when contemplate uses two all the more free factors it needs to use the different backslide examination (Rebekić et al., 2015). There are diverse tables in yield named ANOVA, show outline, and coefficient table. R-estimation of model onceover utilizations to illuminate the association infers quality and direction of the relationship. R2 clears up the distinction of the poor variable. Table 4.12 clears up the model layout of mental Factors and Buying Intention. Table 4.12: Model summary of Psychological Factors and Buying Intention

Source: SPSS The relapse variable use to anticipate the needy variable in light of the free factor. Direct relapse investigation gives the data about the connection between the autonomous and ward variable. In this examination, there is just a single autonomous variable and this call bivariate relapse or straight relapse investigation. At the point when a study utilizes two more free factors it needs to utilize the various relapse examination (Rebekić et al., 2015). There are different tables in yield named ANOVA, display summary, and coefficient table. R-estimation of model rundown uses to clarify the connection implies quality and bearing of the relationship. R2 clarifies the difference of the needy variable. Table 4.12 clarifies the model outline of mental Factors and Buying Intention Table Table 4.13: ANOVA of Psychological Factors and Buying Intention

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Source: SPSS ANOVA table the sig value of is less than 0.05. Hence, the decision is R and R2 among Psychological Factors and Buying Intention statistically important. The constant table assistances to understand the regression equation. The writer reads the unstandardized constant column. Table 4.14: Coefficient of Psychological Factors and Buying Intention

Source: SPSS Y (Buying Intention) = 0.819 (Psychological Factors) + 0.776 4.6.1 Multiple Regression Analysis The creator utilized three elements named Attitudes, Subjective Norms, and Perceived Behavior in this examination to gauge the Buying Intention. The creator utilizes numerous relapse in multiple regression to comprehend the conduct of those components and effect of those elements on Buying Intention. Table 4.15: Multiple Regression Model summary

Source: SPSS As indicated by the R-esteem in Table 4.15, the relationship Attitudes, Subjective Norms, Perceived Behavior and Buying Behavior is certain and solid as R-esteem is one. The R square esteem clarifies the fluctuation of the reliant variable. As indicated by the R square esteem, 100% of the Buying Intention can be clarified by Attitudes, Subjective Norms, and Perceived Behavior. The balanced R square esteem utilizes when the sample estimate is little and the contrast between the R square and balanced R square is little. Consequently, the creator can utilize unadjusted R square an incentive with this examination.

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Table 4.16: ANOVA Multiple Regression

Source: SPSS The sig value of ANOVA table is less than 0.05. Consequently, the conclusion is R and R2 between Attitudes, Subjective Norms, Perceived Behavior and Buying intentions statistically important. The Intention of purchasing in the standard deviation and the mean was 3.11 and 0.80016 independently. Standing to the mean esteem, it recommends the low Buying Intention of the benefactors. The given reactions shift in ale run as 2.60. The Intention of purchasing in the standard deviation and the mean was 3.11 and 0.80016 independently. Standing to the mean esteem, it recommends the low Buying Intention of the supporters. The given reactions fluctuate in ale run as 2.60. Factors. Connection is a way to indicate the connection between the two factors by utilizing one figure. Relationship esteems spread amongst +1 and - 1 as clarified in (Rebekić et al., 2015). At the point when connection esteem under 0 implies negative esteem and when it is more noteworthy than 0 implies positive relationship. Further, the exploration paper clarified that connection examination clarifies the course of the relationship. For instance, positive relationship implies when one variable increment by one unit another variable additionally increments. Negative relationship implies when one variable decrease by one unit other variable declines their qualities. The centrality of the relationship uncovers by the p-estimation of connection coefficient table. In this examination, the creator utilized Pearson connection esteem for understanding the connection between factors. The creator test connection just for the independent variable, subordinate variable, and components of the independent variable and ward variable. The p-estimation of Attitudes, Subjective Norms, and Perceived Behavior was 0.00 for each. As indicated by the p-esteem or sig estimation of the

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components and free factor, the creator can express that there is a significant connection amongst Attitudes and Buying Intention, Subjective Norms and Buying Intention, Perceived Behavior and Buying Intention. The Pearson relationship estimations of Attitudes, Subjective Norms, and Perceived Behavior was 0.882, 0.927, 0.918 and 0.815.All the qualities remain in more like eight and nine. Along these lines, the creator can express that connection amongst Attitudes and Buying Intention, Subjective Norms and Buying Intention, Perceived Behavior and Buying Intention is sure 4.6.2 Hypotheses Testing The creator created speculation to contemplate this exploration issue as this is quantitative examination. In light of the connection analysis and relapse examination, the creator can dismiss the invalid theory and acknowledge the elective theories. Along these lines, there is appositive association with Attitudes and Buying Intention, Subjective Norms and Buying Intention, Perceived Behavior and Buying Intention. 4.7 Chapter Summary The creator utilized measurable examination and SPSS programming to dissect the gathered information. The information gathered by appropriating poll among 200 Investors who put resources into Colombo Stock Exchange. A large portion of the male speculators partake in this examination and the majority of the financial specialist had over one year involvement in their business.

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5. CONCLUSION AND RECOMMENDATION Recommendation based on findings of this study 5.1 Chapter presentation The creator gathered information by conveying poll among 200 financial specialists who put resources into Colombo Stock Exchange. The information investigated by utilizing SPSS programming as quantitative the information can be estimated utilizing factual examination strategies. The got information examination in this section and abridge every one of the discoveries. The creator gives proposal and future ramifications in light of the discoveries 5.2 Findings of the investigation •

The larger part of the member of the overview think about were male 76% and the female investment rate was 24%. Passionate and mental components vary from male to female. Along these lines, the example size and sex distribution help to recognize the genuine consequence of this examination.

•

26% of the members have a place with 25 to 30 age classification and 23% of members have a place with 30 to 35. 20% and 14% of the members have a place with 35 to 40 and 20 to 25. 9%, 5% and 3% of understudies has a place with 40 to 45, 45 to 55 and more prominent than 55.

•

34%, lion's share of the members skilled with GCE Advanced Level and 24% skilled with a diploma. 25% had a degree and 4% had an expert in professional base capability. 3% had certain other significant capability as indicated by their activity level in investing organization.

•

The lion's share, 56% of members had one to three-year effort in work understanding, 29% had three to five-year encounter. 15% of members in the examination had short of what one year encounter.

5.3 Relationships findings •

The autonomous mutable Perceived Behavior, Subjective Norms andAttitudes and Intention of buying had positive, solid relationship. Additionally, the relapse investigation affirms the most grounded of the connection between Perceived Behavior, Subjective Norms and Attitudes and Intention of buying.

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•

The influences, for example, Perceived Behavior, Subjective Norms and Attitudes and Intention of buying. Additionally, the numerous relapse investigation demonstrates the discoveries of the relationship. Composed with entirely these three elements work successfully in an association. Likewise, the 100% of Intention of buying can be clarified by utilizing together the all these three factors.

•

The creator inferred theorize in the start of the examination as the creator took after a clear and a quantitative research approach. As per the discoveries, the creator forbidden invalid theories. In this manner, Investors psychological factors has positive, huge association with the Intention of buying.

5.4 Discussion Bharathi (2013) clarified Psychosomatic Factors or else the influences can be connected in creating positive in optimistic relations, and optimistic exhibitions. Additionally, the scientist clarified advising, support, ability, and limit dependably impacts the Buying Intention. What's more, the researcher clarified that Psychological Factors upgrades the Buying Intention of the speculator by comprehension and dealing with every one of their feelings, and deal with the pressure successfully in venture conclusions. Raza, Saleem and Qamar (2014) found there is a optimistic and noteworthy effect of Buying Intention in psychological factors of financial specialists. Additionally, the investigation uncovered that financial specialists with an advanced level of Psychological Factors have the capability to regulate in controlling their feelings. Deshwal (2016) disclosed that because of the abnormal state of pressure, The problematic in School exceptionally impacts on purchasing choices which leads in the direction of the expectations of buying. Additionally, the creator clarifies Perceived Behavior, Subjective Norms and Attitudes identified with the purchasing goal of speculators. This examination discoveries coordinate with the past discoveries of writing here. as indicated by the discoveries of this examination, there is the positive and noteworthy effect of mental variables and purchaser aim. Welikala and Dayarathna (2015) found that Perceived Behavior, Subjective Norms and Attitudes association with Intention of buying in the financial specialists. The discoveries of this examination square with Welikala and Dayarathna (2015) as such investigation

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found that Perceived Behavior, Subjective Norms and Attitudes association with Intention of buying of the speculators. Bharathi (2013) cleared up Psychosomatic Factors or else the influences can be associated in making positive in idealistic relations, and hopeful displays. Furthermore, the researcher elucidated prompting, bolster, ability, and restrain constantly impacts the Buying Intention. Likewise, the scientist elucidated that Psychological Factors updates the Intention of buying of the theorist by cognizance and handling each one of their sentiments, and manage the weight effectively in wander conclusions. Raza, Saleem and Qamar (2014) found there is a hopeful and imperative impact of Buying Intention in mental variables of budgetary pros. Also, the examination revealed that monetary pros with a propelled level of Psychological Factors have the capability to direct in controlling their sentiments. Deshwal (2016) uncovered that as a result of the strange condition of weight, the problematic in school astoundingly impacts on buying decisions which leads toward the desires of purchasing. Furthermore, the maker clears up Perceived Behavior, Subjective Norms and Attitudes related to the obtaining objective of examiners. This examination revelations facilitate with the past disclosures of composing here. as showed by the disclosures of this examination, there is the positive and critical impact of mental factors and buyer point. Welikala and Dayarathna (2015) originated that Perceived Behavior, Subjective Norms and Attitudes association with Meaning of purchasing in the monetary experts. The revelations of this examination square with Welikala and Dayarathna (2015) thusly examination found that Perceived Behavior, Subjective Norms and Attitudes correlation with Intent of purchasing of the theorists. 5.5 Implication from the study to future learning. This examination demonstrates the significance of related factor and psychological factors to the Intention of buying of the speculators. The Psychological Factors upgrades decision of Buying Intentions. In the future think about, the specialized authorities can apply this idea in numerous work-settings particularly culturally diverse to enhance this investigation additionally. The specialists can utilize other connected elements to

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Psychological Factors using with stated five and check again and again the verified and most suitable appropriate factors to do this learning. The creator can utilize a few different ventures identified with this examination as the discoveries of this investigation just can be applied for the future learnings. 5.6 Recommendations for the future studies Goleman 1997 refered to in Welikala and Dayarathna (2015) communicated that EI is only comprehend the sentiment humanoid, who can deal with their emotions and encourage them to finish captured activity effectively. In this manner, it is critical to hone the EI to improve the single and group efficiency and acquiring in buying behavior. The stated in Psychological Factors makes atmosphere for the general population who have the clear bond and the faith with each other, transparency and reasonableness which limit the undesirable contemplations. As originate discovered in this investigation and clarified in various past examinations thinking pattern as the psychology emphatically effect on Intention of buying. Anbazhagan and Nagarajan (2014) clarified the Psychology of financial specialists’ effects on the speculator performance. In this examination, the creator exposed these influences the factors emphatically effects proceeding purchasing expectation. The prizes and the corporation conspire additionally very impacts on the mental factors consequently and purchasing decisions. In this manner, the association can give agood advantages to their investors. This examination demonstrates the significance of related factor and psychological factors to the Intention of buying of the speculators. The Psychological Factors upgrades decision of Buying Intentions. In the future think about, the specialized authorities can apply this idea in numerous work-settings particularly culturally diverse to enhance this investigation additionally. The specialists can utilize other connected elements to Psychological Factors using with stated five and check again and again the verified and most suitable appropriate factors to do this learning. The creator can utilize a few different ventures identified with this examination as the discoveries of this investigation just can be be applied for the future learnings.

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Visuals in this shaky condition need to settle on number of choices that effect their ways of life for one day in as a rule. Regardless, the most influenced choices that they settled on is the speculation choices of their own since it enunciated the individual flourishing and their goals in long run. All the more a great part of the time the budgetary specialists are well considering about the risk return exchange off when settling alone meander choices. In general setting the fiscal masters have in excess of one approach to manage put their exchange particularly out land security plug gold market currency market and stock exchange. Regardless in Sri Lankan condition the most thoroughly utilized meander strategy is contributing their cash on securities exchange. The Stock market meander is more dangerous than some different theory technique as the inspectors are in threat just for the holding up remuneration of the stocks that stay ensuing to paying each tremendous obligation. In past examinations in history striving to talk about this inborn environment of the threat with exact models that endeavored the relationship among risk of the stocks and the common return of the stocks. Capital Assets regarding Model, Fama and French Three Factor Model, Arbitrage Pricing Model are a portion of the approaches utilized by scholastics and specialists. This investigation won't conversation about the econometrical methods for the undertakings rather examine the Impact of Psychology on behavioral point in putting funds into capital markets with extraordinary reference to Colombo Stock Exchange. Individuals in this unreliable situation need to settle on amount of conclusions that impact their lifestyles for single day in conventionally. In any case, the most influenced decisions that they established on is the speculation decisions of their own since it verbalized the individual prospering and their objectives in long run. More every so often the budgetary pros are well bearing in mind about the risk return trade off when settle down solely wander decisions. When all is said in done setting the trade related supervisors have out abundance of one way to deal with oversee put their trade especially out land safety propel gold market currency market and stock trade. In any case in Sri Lankan condition the most extensively used wind system is contributing their money on securities trade. The Stock market wind is more risky than certain unique hypothesis system as the investigators are in hazard only for the holding up pay of the stocks that stay happening to paying every fundamental commitment.

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In past examinations in past with discussing the same characteristic environment of the danger with particular replicas that tried the assembly between threat of the frameworks and the ordinary reoccurrence of the stocks. Capital Properties and the proper resources identified, with respect to Model, Fama and French Three Factor Model, Arbitrage Pricing Model are a part of the hypotheses used by professional authorities. 5.7 Chapter Summary The example profile of this investigation reasonably speak to the sexual orientation, age, instructive capability and work understanding of financial specialists who put resources into associations enrolled in registering with the Colombo Stock Exchange. In this way, the inventor can quantify the impact of Psychosomatic Factors on buying Intentions and get precise outcome because of chose test. The creator contrasts discoveries of this examination and the discoveries of past research to think about and measure the precision of the discoveries of this investigation. Future ramifications gives by thinking about the restriction of this investigation.

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6. REFERENCES Ahangar, R.G., 2014. Psychological Factors: The Most Potent Factor of Investments. New Perspectives and Applications. Anbazhagan, & Nagarajan, S.K., 2014. A Study on Relationship between Emotional Intelligence and Work Performance among The Thread Mill Employees With Reference To Tirunelveli District -Tamil Nadu. International Journal of Business and Management Invention, 3(2). Anon., 2015. Daily FT. [Online] Available at: http://www.ft.lk [Accessed 15 August 2015]. Arinanye, R.T., 2015. Psychological Factors and Buying Intention. Master Thesis. UGANDA TECHNOLOGY AND. Baloch, Q.B., Saleem, M., Zaman, G. & Fida, A., 2014. The Impact of Psychological Factors on Employees’ Performance. Journal of Managerial Sciences, 8(2). Beukes, C. & Wyk, G., 2016. An investigation of the marketing performance measurement practices in Hatfield Volkswagen group. African Journal of Business Management, 10(6), pp.131-39. Bharathi, L.K., 2013. Psychological Factors and Buying Intention. Global Journal of Commerce and Perspective, 2(4), pp.8 - 11. Chilisa , B. & Kawulich , , 2012. Selecting a research approach: paradigm, methodology and methods. ResearchGate. Deshwal, P., 2016. Psychological Factors and Buying Intention. International Journal of Advanced Research in Management and Social Sciences, 5(1). Dhani, P., Sehrawat, A. & Sharma, T., 2016. Relationship between Psychological Factors and Buying Intention: A Study in Indian Context. Indian Journal of Science and Technology, 9(47). Drost, , 2015. Validity and Reliability in Social Science Research. Education Research and Perspectives, 38(1). FantuChekol, n.d. “Perspectives on Growth and Growth Pattern of Small Scale Enterprise in Addis Ababa, in Particular Reference to Manufacturing Sector.”. A Master’s Thesis Submitted to the Department of Regional and Local Development Studies. Gryn, M., 2010. Psychological Factors and Buying Intention. Master Thesis. UNIVERSITY OF SOUTH AFRICA. Hultin, , 2011. EMOTIONAL INTELLIGENCE:The Three Major Theories in the Field. Master Thesis. School of Humanities and Informatics. Jagongo, A., 2015. Investment Decisions: The Case of Individual Investors at the NSE. Management Decciosn .

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Jankingthong, K. & Rurkkhum, , 2012. Factors Affecting Job Performance: A Review of Literature. Silpakorn University Journal of Social Sciences, Humanities, and Arts, 2(2). Kimberlin , C. & Winterstein, A., 2008. Validity and reliability of measurement instruments used in research. Am J Health-Syst Pharm, 65. Kulkarni , P., Janakiram, B. & Kumar , D.N.S., 2009. Emotional Intelligence and Employee Performance as an Indicator for Promotion, a Study of Automobile Industry in the City of Belgaum, Karnataka, India. International Journal of Business and Management, 4(4). Mkansi, M. & Acheampong, E., 2012. Research Philosophy Debates and Classifications: Students’ Dilemma. Electronic Journal of Business Research Methods, 10(2). Mohamad, & Jais, , 2016. Emotional Intelligence and Job Performance: A Study Among Malaysian Teachers. In 7th International Economics & Business Management Conference., 2016. ScienceDirect. Mohamad, M. & Jais, J., 2016. Emotional Intelligence and Job Performance: A Study among Malaysian Teachers. Procedia Economics and Finance . MUNISAM, , 2013. IDENTIFYING FACTORS THAT PERFORMANCE. Master Theise. Open University Malaysia.

INFLUENCES

JOB

Naseer, Z., Chishti, S.-u.-H., Rahman, F. & Jumani, , 2011. Impact of Emotional Intelligence on Team Performance in Higher Education Institutes. International Online Journal of Educational Sciences, 3(1). Raza , A., Saleem , & Qamar , , 2014. An Investigation of the Impact of Emotional Intelligence on Job Performance through the Mediating Effect of Organizational Commitment: An Empirical Study of Banking Sector of Pakistan. Information and Knowledge Management, 4(1). Rebekić , A., Lončarić, Z., Petrović, S. & Marić, S., 2015. ISSN: 1848-8080 (Online) Pearson’s or spearman’s correlation coefficient – which one to use? Agricultural Institute Osijek. Salovey, P. & Mayer, J., 1990. Emotional Intelligence: Imagination, Cognition and Personality. pp.185-211. Schwartz, T., 2000. Fast Company. [Online] Available at: www.fastcompany.com [Accessed 18 August 2015]. Sonnentag, S., Volmer, J. & Spychala, A., 2010. Psychological Factors and Buying Intention. Orgaizationa behavior, 1. Stern, , 2004. Philosophies and types of evaluation research. background report. European Communities. Thao, L.T.T. & Hwang, C.-s., 2015. FACTORS AFFECTING EMPLOYEE PERFORMANCE– EVIDENCE FROM PETROVIETNAM ENGINEERING CONSULTANCY J.S.C. Leadership and Organization Development Journal.

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Welikala, D. & Dayarathna, N., 2015. The Impact of Emotional Intelligence on Employee Job Performance: An Empirical Study base on the Commercial Banks in Central Province. Human Resource Management Journal, 3(1).

AIC, 2009. The ‘solvency test’ under Guernsey company law. Chiswell Street: AIC guidance for directors of Guernsey investment companies. Ajzen, I., 1977. Attitude-Behavior Relations:. A Theoretical Analysis and Review of Empirical Research, 5(2), pp.25-35. Ajzen, I., 2002. Perceived Behavioral Control, Self-Efficacy, Locus of Control, and the Theory of Planned Behavior. Advanced Economics , pp.55-65. Beukes, C. & Wyk, G., 2016. An investigation of the marketing performance measurement practices in Hatfield Volkswagen group. African Journal of Business Management, 10(6), pp.131-39. C, C., 1988. Protectionist Trade Policies. A Survey of Theory, Evidence and Rationale, pp.35-46. F, B., 2000. Simplified Strategic Planning.. Chandler House. FantuChekol, n.d. “Perspectives on Growth and Growth Pattern of Small Scale Enterprise in Addis Ababa, in Particular Reference to Manufacturing Sector.”. A Master’s Thesis Submitted to the Department of Regional and Local Development Studies. Gao, Y., 2010. Measuring marketing performance: a review and a framework. The Marketing Review, 10(1), pp.25-40. Jagongo, A., 2015. Investment Decisions: The Case of Individual Investors at the NSE. Management Decciosn . James, T., 2011. OPerations Strategy. 9788776818289th ed. Ted James & Ventus Publishing ApS. Raheman, A..&.N.M., 2007. Working Capital Management and Profitability. Research Papers, 6(7), pp.55-86. Sauenders, M., Lewis , P. & Thornhill, A., 2009. Research Methods for Business Stuednts.. 5th ed. Essex: Prentice Hall. Saunders, M., Lewis , P. & Thornhill, , 2009. Research Method for Business Students. 5th ed. Pearson. Sekaran , & Bougie , , 2012. Research Methods for Business. 6th ed. New Delhi: Wiley India. Sondari, M.C., 2015. Using Theory of Planned Behavior in Predicting Intention to Invest : Case of Indonesia. Finance Journal , 4(2), pp.25-36.

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7. APPENDIX 1 7.1 Questionnaire for Investor Survey – English version Dear Investors, The purpose of this questionnaire is to collect data and information only for a research conducted by a student Sithari Thanya Ranawaka of Cardiff Metropolitan University London. Please answer the following questions honestly. We assure that all individual information provided by you will be kept confidential and will not be used for other purposes. Date :

Click or tap to enter a date.

Place:

Click or tap here to enter text.

Part 1: Personal Demographic Characteristics (please tick x) 1. Name (Optional)


2. Telephone Number


3. Gender

☐ Male

4. Marital Status

☐ Married

5. Age

☐ 0-29 Years

☐ 30-39 Years

☐ 40-59 Years

☐ Above 60

☐ Below O/L

☐ O/L

6. Educational Level

☐ Female ☐ Single

☐ Divorced

☐ A/L ☐ Diploma

7. What is your employment sector

8. Annual income

☐ Degree

☐ Post Graduate

☐ Government Government

☐ Semi

☐ Private Employment

☐ Self

☐ Below Rs.100.000 150,000

☐ Rs.100,000-

☐ Rs.150,000-250,000 Rs.200,000

☐ Above

9. How much is your Average Annual Investment in Colombo Stock Exchange?


10. The Investment Experience

☐ 1-2 Years

☐ 2-5 Years

☐ 5-1 Years

☐ Above 10 Years

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11. Do you have any other investments other than shares? If yes specify,

☐ Yes

☐ No

☐ Fixed Deposit

☐ Gold/Gem

☐ Treasury Bonds

☐ Treasury Bills

☐ Money Market Part 2:The following questions are targeted to obtain your information regarding to the investment behavior. Please response to the following by ticketing (√).

Intention 1. I am planning to invest in Colombo Stock Exchange Next Month?

☐ Yes

☐ No

Attitude 2. I think that I will get expected benefits from investing in Colombo Stock Exchange.

Beneficial

3. I think that investing in Colombo Stock Exchange is Good Avenue for me.

Good

☐

☐ 4. I think that investing in stock exchange is a valuable opportunity for my life.

☐

☐

☐

☐

☐ Not Valuable

☐

☐

Pleasant ☐

☐ Bad

Valuable ☐

5. I have pleasant experience in investing in Colombo Stock exchange.

Unbeneficial

☐ Unpleasant

☐

☐

☐

6. I think that investing in Colombo Stock Exchange is enjoyable. Enjoyable ☐

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☐

☐

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Subjective Norms 7. Most of people who are important to me think that I should invest in Colombo Stock Exchange.

Likely

8. My family would think that I should invest in Colombo Stock exchange.

Likely

☐

☐ 9. My close friends think that I should invest in Colombo stock exchange.

☐

☐

☐ Unlikely

☐

☐

☐ Unlikely

☐

☐

☐

Unlikely ☐

☐

Likely ☐

☐ Unlikely

Likely ☐

12. Information released by the media affects to my investment decisions.

☐

Likely ☐

11. My investment advisor’s opinions influence on my investments in Colombo Stock Exchange?

☐

Likely ☐

10. My job peers think that I should invest in Colombo stock exchange.

Unlikely

☐

Unlikely ☐

☐

☐

Perceived behavioral control 13. I can invest in stock exchange more easily if I have access to the adequate funds.

Likely

14. I can invest in stock exchange more easily if I understand about trading procedure of shares

Likely

15. I aware the degree of risk if I invest in share market

Likely

☐

☐

☐

Unlikely ☐

☐

☐ Unlikely

☐

☐

☐ Unlikely

☐

☐

☐

Thank you for your kind cooperation!

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7.2 Questionnaire for Investor Survey – Sinhala version

ප්‍රශ්ණාවලිය. හිතවත් ආයයෝජකයනි, වර්තමානයේ ලන්ඩනයේ Cardiff Metropolitan විශ්වවිද්‍යාලයේ ඉයෙනුම ලබන සිතාරි තානයා රණවක මගින් කරනු ලබන අධ්‍යයන

පරීක්ෂණයක් සද්‍හා අවශය යතොරතුරු

ලබාෙැනීමට යමම ප්‍රශ්ණාවලිය ඔබට ඉදිරිපත් කරනු ලබයි. යේ සද්‍හා ඔබයේ සහයයෝෙය බලායපොයරොත්තු යවමු. යමමගින් ඔබ ලබායද්‍න යතොරතුරු අපයේ අධ්‍යයන පරීක්ෂණය සද්‍හා පමණක් යයොද්‍ාෙනු ලැයේ එයමන්ම ඔබ විසින් ලබායද්‍න යතොරතුරුවල රහසයභාවය . ආරක්ෂාකරන බවටද්‍ සහතික යවමු. Date :

Click or tap to enter a date.

Place:


Part 1: පුද්ෙලික හදුනා ෙැනීයේ යතොරතුරු, ඔබයේ ප්‍රතිචාරය x ලකුණු කිරීම මගින්

ද්‍ක්වන්න 12. නම (Optional)


13. දුරකතන අxකය


14. ස්ත්‍රී පුරුෂ භාවය

☐ පුරුෂ ☐ ස්ත්‍රී

15. විවාහක තත්වය

☐ විවාහක

16. වයස

☐ අවුරුදු 0-29



☐ අවුරුදු 60 වැඩි

☐ සායපළට අඩු.

☐ සායපළ.

☐ උයපළ.

☐ ඩිප්යලෝමා

☐ උපාධි

☐ පශ්චාත් උපාධි

☐ රාජය

☐ අර්ධ්‍ රාජය

☐ යපෞද්ෙලික

☐ ස්වයx යසේවා නියුක්ත

☐ රු.100.000 අඩු

☐ රු.100,000-150,000

☐ රු.150,000-250,000

☐ රු.Rs.200,000 වැඩි

17. අධ්‍යාපන තත්වය

18. යසේවයේ නියුතු අxශය

19. වාර්ෂික ආද්‍ායම

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20. ඔබ යකොළඹ යකොටස් යවලද්‍යපොයළහි


වාර්ෂිකව යකොපමණ මුද්‍ලක් ආයයෝජනය කරයිද්‍? 21. ඔබයේ ආයයෝජන අත්ද්‍ැකීම යකොපමණ කාලයක්ද්‍?




☐ අවුරුදු 10 වැඩි

22. යකොළඹ යකොටස් යවලද්‍යපොයළහි හැර

☐ ඔව් ☐ නැත

යවනත් ආයයෝජන මාර්ෙවල ආයයෝජනය කර ඇත්ද්‍? භාණ්ඩාොර බිල්පත්, ආයයෝජනය කර ඇත්නේ;

☐ ස්ථාවර තැේපතු

☐ රන්මැණික්/

☐ බැදුේකර

☐ භාණ්ඩාොර බිල්පත්

☐ මුද්‍ල් යවලද්‍යපොළ Part 2: පහත ප්‍රශ්නාවලිය ඔබ අපයවත ද්‍ක්වන යයෝජන හැසීරීම පද්‍නේ කරයෙන

සකසන ලද්‍ අතර ඔබයේ ප්‍රතිචාරය x ලකුණු කිරීම මගින් ද්‍ක්වන්න

Intention 16. ඔබ ඉදිරි මාස කිහිපය තුලදී යකොළඹ

යකොටස් යවලද්‍යපොයළහි ආයයෝජනයට අයප්ක්ෂා කරයිද්‍?

☐ ඔව්

☐ නැත

Attitude 17. යකොළඹ යකොටස් යවලද්‍යපොයළහි

ආයයෝජනය තුළින් ඔබ අයප්ක්ෂා කරන ප්‍රථිලාභ ලැයබයිද්‍?

ථලද්‍ායී යනොයව් ☐

☐

18. යකොළඹ යකොටස් යවලද්‍යපොළ ඔබට යහපත් ආයයෝජන මාර්ෙයකි?

යහපත්

19. යකොළඹ යකොටස් යවලද්‍යපොයළහි

වටිනාකමක් ඇත

☒

ථලද්‍ායී යනොයව් ☐

☐

අයහපත් ☐

☒

☐

වටිනාකමක් නැත

ආයයෝජනය ඔබයේ ජීවිතයට වටිනා අවස්ථාවකි? ☐ 20. යකොළඹ යකොටස් යවලද්‍යපොයළහි

ආයයෝජනයයන් ඔබට ප්‍රසන්න අත්ද්‍ැකීේ ලැයේද්‍?

MBA 7099 ST20115360

☐

☐

ප්‍රසන්න ☐

☐

අප්‍රසන්න ☐

☐

☐

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21. යකොළඹ යකොටස් යවලද්‍යපොයළහි ආයයෝජනය ඔබට වියනෝද්‍ාත්මකයිද්‍?

වියනෝද්‍ාත්මකයි ☐

වියනෝද්‍ාත්මක නැත

☐

☐

☐

Subjective Norms 22. ඔබට වැද්‍ෙත් යැයි සිතන පුද්ෙලයින් ඔබ

යකොළඹ යකොටස් යවලද්‍යපොයළහි ආයයෝජනය කලයුතුබව සිතයිද්‍? 23. ඔබයේ පවුයල් සාමාජිකයින් විසින් ඔබ

එකෙ යව් ☐

☐

24. ඔයේ සමීප මිතුරන් විසින් ඔබ යකොළඹ


25. ඔයේ යසේවා ස්ථානයේ හිතවතුන් ඔබ

එකෙ යව්

යකොළඹ යකොටස් යවලද්‍යපොයළහි ආයයෝජනය කලයුතුබව සිතයිද්‍?

☐

26. ඔයේ ආයයෝජනය උපයද්ශකයායේ

උපයද්‍ස් යකොටස් යවලද්‍යපොයළහි ආයයෝජනය කිරීම යකයරහි බලපායිද්‍? 27. විවිධ්‍ මාධ්‍ය නියව්ද්‍න ඔබයේ ආයයෝජන තීරණ යකයරහි බලපායිද්‍?

☐

☐

එකෙ යව්

යකොළඹ යකොටස් යවලද්‍යපොයළහි ආයයෝජනය කලයුතුබව සිතයිද්‍? යකොටස් යවලද්‍යපොයළහි ආයයෝජනය කලයුතුබව සිතයිද්‍?

එකෙ යනොයව්

එකෙ යනොයව් ☐

☐

☐

☐

☐


☐

☐


☐


☐

එකෙ යනොයව්


☐

☐


☐

☐

Perceived behavioral control 28. ඔබට ප්‍රමාණවත් මුද්‍ල් ඇත්නේ

පහසුයවන් යකොළඹ යකොටස් යවලද්‍යපොයළහි ආයයෝජනය කල හැක. 29. ඔබට යකොටස් ෙණයද්‍නු කිරීම පිලිබද්‍

යහොද්‍ අවයබෝද්‍යක් ඇත්නේ පහසුයවන් යකොළඹ යකොටස් යවලද්‍යපොයළහි ආයයෝජනය කල හැක. 30. ඔබට යකොටස් ආයයෝජනයේදී එහි

අවද්‍නම පිළිබද්‍ ද්‍ැනීමක් ඇත.



☐



☐


☐

☐


☐

☐

ඔබ ද්‍ැක්වු සහයයෝෙයට ස්තූතියි.

MBA 7099 ST20115360

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8. APPENDIX 2 – DATA ANALYSIS Correlation

MBA 7099 ST20115360

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Regression

MBA 7099 ST20115360

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MBA 7099 ST20115360

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APPENDIX 3 – ETHICS APPLICATION FORM

EXEMPLAR 1:

DEVOLVED ETHICS APPROVAL APPLICATION SUMMARY Student Name

: Sithari Thanya Ranawaka

Student Number : ST20115360

Module Name

: Dissertation

Module Number : 7099

Programme Name : MBA To be completed by student and supervisor before submission to Ethics Approval Panel

Supervisor Name : Dr.Rohan Laksiri Student Signature;

Supervisor Signature;

Application for ethics approval

Yes [Y]

N/A -

Yes [ ]

N/A -

Participant information sheet

[Y]

[ ]

[ ]

[ ]

Participant consent form

[ ]

[ ]

[ ]

[ ]

Pilot interview/s Pilot questionnaire/s Letter/s to participating organisation/s

[ ]

[ ]

[ ]

[ ]

First Submission Date: 10.03.2018

[✓]

Resubmission

[ ]


For use by the devolved ethics approval panel: Panel Members

Name

Signature

Module leader : _____________________________

_______________

Supervisor

_______________

: _____________________________

CSM Ethics Committee Representative: _____________________________

Date : _______________

Outcome: Project Approved Project Approved in Principle Application not ready/ incomplete

_______________

Date of Reassessment : _______________

[ ] [ ] [ ]

Reference number: (Decision deferred)

Comments for projects not fully approved: _____________________________________________________________________________

The original to be retained by the module leader and a copy given to the student

EXEMPLAR 2: CARDIFF METROPOLITAN UNIVERSITY APPLICATION FOR ETHICS APPROVAL When undertaking a research or enterprise project, Cardiff Met staff and students are obliged to complete this form in order that the ethics implications of that project may be considered. If the project requires ethics approval from an external agency such as the NHS or MoD, you will not need to seek additional ethics approval from Cardiff Met. You should however complete Part One of this form and attach a copy of your NHS application in order that your School is aware of the project. The document Guidelines for obtaining ethics approval will help you complete this form. It is available from the Cardiff Met website. Once you have completed the form, sign the declaration and forward to your School Research Ethics Committee. PLEASE NOTE: Participant recruitment or data collection must not commence until ethics approval has been obtained. PART ONE Name of applicant: Sithari Thanya Ranawaka Supervisor (if student project):

Dr.Rohan Laksiri

School:

Cardiff Metropolitan University

Student number (if applicable):

ST20115360

Programme enrolled on (if applicable):

2016

Project Title:

Impact of subjective norms and

Expected Start Date:

behavioral intention in investing in equity markets N/A

Approximate Duration:

N/A

Funding Body (if applicable):

N/A

Other researcher(s) working on the project:

N/A

Will the study involve NHS patients or staff?

N/A

Will the study involve taking samples of human origin from participants?

N/A

In no more than 150 words, give a non-technical summary of the project To be completed for all projects Does your project fall entirely within one of the following categories: Paper based, involving only documents in Choose an item.

the public domain Laboratory based, not involving human participants or human tissue samples

Paper based and documents in public domain N/A

Practice based not involving human participants (eg curatorial, practice audit)

N/A

Compulsory projects in professional practice (eg Initial Teacher Education)

N/A

If you have answered YES to any of these questions, no further information regarding your project is required. If you have answered NO to all of these questions, you must complete Part 2 of this form

DECLARATION: I confirm that this project conforms with the Cardiff Met Research Governance Signature of the applicant: Framework FOR STUDENT PROJECTS ONLY Name of supervisor:

Date:

Date:

Signature of supervisor:

Research Ethics Committee use only Decision reached: approved

Project Project approved in principle Decision deferred Project not approved Project rejected

Project reference number: Click here to enter text. Name: Click here to enter text. Signature:

Date: Click here to enter a date.

Details of any conditions upon which approval is dependent: Provided a summary sheet is submitted with the application you can state ‘see summary sheet’. If no summary sheet is used all conditions must be described here A RESEARCH DESIGN A1 Will you be using an approved protocol in your project?

N/A

A2 If yes, please state the name and code of the approved protocol to be used 1 Most CSM projects will not use a protocol so this section will be n/a

A3 Describe the research design to be used in your project The writer composed and gathered data by issuing questionnaire with the survey among 200 savers as investors in the field who finance in Colombo Stock Exchange. The SPSS software is used for the data analyze the as quantitative measurable type of data can be dignified with using proper statistical analysis methods. The acquired data examination in this chapter and encapsulate in summarizing all the findings, recommendations and conclusions. The writer delivers a valid and resource able recommendation and forthcoming inference grounded on discoveries. Mainstream in the scale of contributors in assessment reading indications stated rate as male 76% and the female contribution indication rate as 24%. The emotional and psychological relationship influences vary from female to male. Consequently, the taster sampling scope and gender diversification help to recognize the factual outcome and the real result of this learning.26% of the contributors according to the study in the category of 25 to 30 age and 23% of contributors according to the study in the category of 30 to 35. 20% and 14% of the respondents according to the study in the category which is of the 35 to 40 and 20 to 25. 9%, 5% and 3% of scholars be appropriate to 40 to 45, 45 to 55 and grander more than to 55.34%, mainstream as the majority taken from the contributors skilled with government GCE A/L with 24% experienced through diploma. 25% consumed a gradation in degree and 4% consumed specialized built condition. 3% consumed particular additional appropriate requirement rendering for their occupation standard in investing Corporation. The standard, had one to three-year work knowledge for 56% of contestants, had three to five-year experience for 29% of contestants. 15% of contestants in the education had much minus than one year familiarity in knowledge. The independent variable Perceived Behavior, Subjective Norms, attitudes, and Intention of buying had optimistic, durable high association. The factors such as Perceived Behavior, Subjective Norms, Attitudes and is positively co related with the Buying Intention of the investor. According to the multiple regression which calculated in the study it proves there is a positive and also strong relationship with all independent variables and the dependent variable of buying intention. Hence the author of the study accepted all the hypothesis developed in research methodology chapter and rejected null hypothesis in the same. To drive the above conclusion author of the study used quantitative resulting hypothesizes as the author has followed the quantitative and evocative research method in the commencement of the study.

A4 Will the project involve deceptive or covert research?

N/A

A5 If yes, give a rationale for the use of deceptive or covert research Some CSM research projects may involve deception, this will usually be where the student is using their normal work environment to undertake participant observation

PART TWO B PREVIOUS EXPERIENCE B1 What previous experience of research involving human participants relevant to this project do you have?

1

An Approved Protocol is one which has been approved by Cardiff Met to be used under supervision of designated members of staff; a list of approved protocols can be found on the

B2 Student project only What previous experience of research involving human participants relevant to this project does your supervisor have? The research described here must be relevant to this project C POTENTIAL RISKS C1 What potential risks do you foresee? N/A Consider any potential risk to the researcher, project, participants and the university C2 How will you deal with the potential risks? N/A When submitting your application you MUST attach a copy of the following: • All information sheets • Consent/assent form(s) Refer to the document Guidelines for obtaining ethics approval for further details on what format these documents should take.

Appendix 4 – Dissertation Meeting Record Sheet

Name of the Student

: Sithari Thanya Ranawaka

ICBT ID

: ST / Cardiff MB /13/22

UWIC ID

: ST20115360

Name of the Supervisor : Dr. Rohan Laksiri

Date

Covered Topics/ Areas to improve

30th December 2017

Discussion on research topic

21st January 2018

Discussion on Introduction, Literature review and Research methodology

3rd of March 2018

Discussion on research questioner and SPSS module

:

Signature of the Supervisor

Appendix 5 – Dissertation Making Scheme Student Name

Sithari Thanya Ranawaka

Student ID

ST20115360

Examiner

Dr. Rohan Laksiri Section and the Content Assessed

1

2

3

4

5

Title & Abstract • Precise and rational • Refers to the research problem • Structure: problem and objectives, brief methodology, findings and conclusions • Results – Provide answers to the objective Justification • Describe the academic and/or economic value of the research • Describe the uses of study results • Focused Objectives • General objective covers the scope of the study. • Specific objectives-what the researcher plans to achieve. • Objectives are arranged in a logical sequence. Literature review • Relevant, applicable to the study • Literature review is from a range of sources and journals including theories and application. • Well organized Methods • Research design is appropriate to achieve the objectives. • There is a robust conceptual framework • Population and sample size is correctly identified and determined • Sampling procedure is appropriate to the objectives and methodology. • Choice of the data analysis method is appropriate for the study, and clearly justified. • Methods of data collection is described properly.

VIVA Code

Allocated Marks

03

05

08

10

14

Marks Awarded

Results • Clear presentation of the data/results • Tables/ Charts are presented with sources provided. • Analysis is appropriate, ensure validity and reliability of measurements and analyzed results 6 • Results provide addresses the research objectives and hypotheses (if any). • Results demonstrate the approval or disapproval of the hypothesis or assumptions derived from the conceptual model. • Well organized and sequenced Discussion/ Conclusion / Recommendations • Derived from analysis and findings (this will ensure conformance to objectives). 7 • There are reference to the theory and the literature • Limitations of the study are well addressed • Discusses about the possibilities of future research Formats and Referencing • Formatting is consistent, error free and impressive. • Harvard referencing style has been used correctly and consistently throughout the dissertation. 8 • All references cited in text are included in the reference list. • List of references has been organized alphabetically. Marks for the Written Document (Out of 75 Marks)

20

10

05

75

VIVA Examination Explanation of the research problem and research objectives

02

Explanation of the sources of the literature

03

Explanation of the conceptual framework including the Conceptual model, Independent, dependent variables, Hypothesis, Operationalization, population and sample selection. (In case of a research based on secondary data examiners may allocate the marks considering the arguments developed)

10

Explanation of analytical techniques used

05

Explanation of conclusion and recommendations

05

Note - Explanations shall be lucid, professional, concise, and clear. Also Examiners shall ensure that the student is knowledgeable based on defensive answers. Marks for VIVA examination ( out of 25 Marks) Total

25

Remarks Student Name

Sithari Thanya Ranawaka

Student ID

ST20115360

Examiner

Dr. Rohan Laksiri

Section

Comments

Signature of the Examiner : ……………………….. Date

VIVA Code

: ………………………..