Considering the natural resources, ancient value, and cultural components, Sri Lanka has been recognized as one of the main tourism destinations in the world. Because Sri Lanka have already proved that the best place to obtain a superior experience. According to the current situation in tourism sector has been influences by this pandemic and post situation highly. Parties in the tourism sector are facing several difficulties to aligned with this new normal situation. At the same time, countries that are gaining several competitive advantages from the tourism sector have adopted the wellness tourism concept especially other Asian countries namely, India. Because it is a timely concept to win this modern business era, this study explored to provide a critical evaluation of literature on the wellness tourism and the possibility of appalling this concept into the Sri Lankan context. A rigorous literature review is carried out by choosing conceptual and empirical papers mostly published after 2015 in reputed journals to evaluate the wellness tourism concept discussed by many authors critically. The findings of this study provide valuable insight
Focus of the study is to examine the role of marketing expense in the relation between capital structure and firm performance using 35 public limited companies listed in Colombo Stock Exchange (CSE), Sri Lanka for the period 2012 to 2019. Inconclusive evidence reported on the role of marketing expense along with unavailability of sound literature raise the need of a study in this nature. The study employs total debt to total asset ratio to represent the leverage of a company while return on assets as proxy for firm performance. Further, return on equity has been introduced to test the robustness of each model developed within the study. Followed by a general descriptive analysis, panel data regression models have been designed to observe the mediator or moderator role of marketing expenditure in determining the relationship between the main variables of the study. Moreover, the study has taken a fair attempt to eliminate model specification bias by incorporating control variables to the main regression models. As per the regression model outputs it was observed that marketing expense operates as a moderator variable in Sri Lanka and most importantly it is weakening the adverse impact created by excessive debt level on firm performance. These findings appeal for a developed capital market in Sri Lanka and highlight the radical decision making under resource-based view. The results of the study agree with the related literature in other parts of the world.
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