Conference Program
Conference Program
The 6th Annual Emerging Financial Markets and Policy Conference - EFMP 2026
“Redefining Financial Strategies in the Era of Digital Transformation and Global Shifts”
Sri Lanka Finance Association
23rd October 2026, SLIIT Business School, Colombo, Sri Lanka
Hybrid Conference
8:30 AM – 7:00 PM Sri Lanka Time
Join the Conference
SLIIT Business School
SLIIT Malabe Campus,
New Kandy Road, Malabe.
08.30 AM - 09.50 AM - Commencement
| 08.30 AM – 09.00 AM | Arrival of Guests & Networking | |
| 09:05 AM – 09:15 AM | Lighting of the Traditional Oil Lamp | |
| 09:15 AM – 09:20 AM | Opening Remarks & Welcome Address | |
| Dr. Wisura Weerathunga, SLIIT Business School | ||
| Conference Co-Chair, EFMP 2026 | ||
| 09:20 AM – 09:25 AM | Address by the Conference Co-Chair | |
| Prof. S. Buvanendra, University of Colombo | ||
| Conference Co-Chair, EFMP 2026 | ||
| 09:25 AM – 09:30 AM | Address by the President, Sri Lanka Finance Association | |
| Prof. Manjula K. Wanniarachchige, University of Ruhuna | ||
| 09:30 AM – 09:40 AM | Address by the Dean of SLIIT Business School | |
| Prof. Renuka Herath, Dean, SLIIT Business School | ||
| 09:40 AM – 09:50 AM | Entertainment Item | |
09.50 AM - 10.40 AM - Keynote Address
| 09:50 AM – 09:55 AM | Introducing the Keynote Speaker | |
| Dr. Wisura Weerathunga, SLIIT Business School | ||
| Conference Co-Chair, EFMP 2026 | ||
| 09:55 AM – 10:40 AM | Keynote Address: | |
| Does Language Shape Corporate Strategies | ||
| Prof. Ferdinand A Gul | ||
| Professor of Accounting and Finance, School of Business and Creative Industries, University of the Sunshine Coast, Australia | ||
Professor Gul is a recognized authority in the field of empirical financial reporting/ finance with an emphasis on capital markets effects of corporate governance based on his publications in leading high impact factor journals (see ISI Journal Citation Reports). He subscribes to an inter-disciplinary research philosophy that emphasizes the idea that theories and forces in economics, politics, management and law play out in the practice of accounting and finance.
Professor Gul has published in top quality journals such as Journal of Financial Economics, Journal of Banking and Financepers) , Journal of Corporate Finance, Management Science, Journal of Accounting and Economics, The Accounting Review, Journal of Accounting Research, Contemporary Accounting Research, Auditing: A Journal of Practice and Theory, and International Journal of Research in Marketing. His Google Citations are 17,501; h- index 54. In addition, he has published books on China’s socio economic reforms and auditing and corporate governance of East Asian Corporations.
Professor Gul was awarded the Doctor of Economics research higher degree by Monash University (first person to be conferred the degree) in 2012 for what it described as his “original, substantial and distinguished contribution to knowledge in the field of accounting and finance”. It is recognition of his authoritative standing in the field.
Professor Gul has won several accolades in terms of teaching and research especially in auditing and has considerable experience in providing consultancy services in auditing and corporate governance. In recognition of his achievements, he was recently elected Fellow of the prestigious Academy of the Social Sciences in Australia (ASSA). Finally, Professor Gul’s passion for teaching and research has resulting in his supervision of more than 60 postgraduate students.
| 10:40 AM – 10:45 AM | Presentation of Token of Appreciation to the Keynote Speaker |
| 10:45 AM – 10:50 AM | Vote of Thanks |
| Ms. Suwani Hettiarachchi, SLIIT Business School | |
| Conference Co-Coordinator, EFMP 2026 | |
| 10:50 AM – 11:00 AM | Group Photographs |
| 11:00 AM – 11:30 AM | Refreshments & Transition to Technical Sessions |
11.30 AM - 01.30 PM Concurrent Sessions
| 11:30 AM – 01:30 PM | Session A: Corporate Governance | |
| Chair: | Dr. D. G. Sujeewa Damayanthi, University of Colombo, Sri Lanka | |
| Conveners: | Ms. Nirmani Pulle, Ms. D.L.M.N.K. Ariyasena | |
| 1. | Impact of Corporate Governance Practices on Cash Holdings: A Study on Largest Market Capitalization Companies Listed in Sri Lanka | |
| Author(s): | Nawas, M. Farveen, N. |
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| Presenter: | Farveen, N. | |
| Discussant: | Prof. D.L.P.M. Rathnasinghe | |
| 2. | Ownership Diversity and Financial Distress: Evidence from Financial Sector Companies Listed on the Colombo Stock Exchange | |
| Author(s): | Kapuwaththa, K.G.D.B. Abeyrathna, R.M.L.M. |
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| Presenter: | Kapuwaththa, K.G.D.B. | |
| Discussant: | Prof. Saheela Balagobei | |
| 3. | Logistic Regression Versus Random Forest in Early Warning Systems for Financial Crises: A Systematic Review and Future Research Agenda for Sri Lanka | |
| Author(s): | Abeyrathna, R.M.L.M. Asanka, P.P.G.D. |
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| Presenter: | Abeyrathna, R.M.L.M. | |
| Discussant: | Dr. D. G. Sujeewa Damayanthi | |
| 4. | Moderating Effect of Institutional Ownership on the Relationship between Intellectual Capital and Financial Performance of Licensed Commercial Banks in Sri Lanka | |
| Author(s): | Dilaxshana, S. | |
| Presenter: | Dilaxshana, S. | |
| Discussant: | Prof. Sampath Kehelwalatenna | |
| 11:30 AM – 01:00 PM | Session B: Corporate Finance | |
| Chair: | Prof. S. Buvanendra, Professor, University of Colombo, Sri Lanka | |
| Conveners: | Ms. Udeshika Pathirana, Mr. K.R.K. Harshana | |
| 5. | Impact of Capital Structure and Dividend Policy on Firm Value: Evidence from Largest Market Capitalization Companies Listed in Colombo Stock Exchange | |
| Author(s): | Farveen, M.N.N. Azeem, A.M. |
|
| Presenter: | Farveen, M.N.N. | |
| Discussant: | Prof. S. Buvanendra | |
| 6. | Impact of Personal Income Tax on Cost of Debt: Evidence from Sri Lankan Listed Firms: Evidence from Sri Lankan Listed Firms | |
| Author(s): | Nathasha, K. | |
| Presenter: | Nathasha, K. | |
| Discussant: | Dr. Sanath Jayanetti | |
| 7. | Impact of Integrated Reporting on Firm Value: Empirical Evidence from Licensed Finance Companies in Sri Lanka | |
| Author(s): | Puviyarasan, K. Sampavi, A. |
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| Presenter: | Puviyarasan, K. | |
| Discussant: | Ms. Kalani Dissanayake | |
| 11:30 AM – 01:00 PM | Session C: Investments | |
| Chair: | Dr. U.G. Kaushalya, University of Sri Jayewardenepura, Sri Lanka | |
| Conveners: | Ms. Sanduni Nimeshika, Mrs. W.Y.M.M.N. Ekanayake | |
| 8. | Impact of COVID-19 on the Sector-Wise Return in Colombo Stock Exchange | |
| Author(s): | Wanigasekara, M.I. Wanniarachchige, M.K. |
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| Presenter: | Wanigasekara, M.I. | |
| Discussant: | Snr. Prof. (Ms.) R. Yogendrarajah | |
| 9. | Beyond Borders, Across Markets: Russian Presidential Elections and Sectoral Responses in India | |
| Author(s): | Wickramanayake, I.K. Piumali, K.S. Hettiarachchi, S. Weerathunga, W. |
|
| Presenter: | Wickramanayake, I.K. | |
| Discussant: | Ms. Chathurini Kumarapperuma | |
| 10. | Domestic Macroeconomic Conditions and Foreign Portfolio Investment in Sri Lanka: Dynamic Evidence from a Frontier Market | |
| Author(s): | Mithila, G. Lingesiya, K. Vithusha. R. |
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| Presenter: | Mithila, G. | |
| Discussant: | Mr. R.Y.H. De Alwis Senavirratne | |
| 11:30 AM – 01:00 PM | Session D: Financial Literacy | |
| Chair: | Dr. Heshan Sameera, Assistant Professor, SLIIT Business School | |
| Conveners: | Ms. Colinie Wickramarachchi, Ms. Dinukee De Silva | |
| 11. | Digital Finance and Financial Development in South Asia: Evidence from a Novel Digital Finance Index | |
| Author(s): | Karunarathna, C. Sithumini, S. Liyanga, J. Ganegodage. R. |
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| Presenter: | Karunarathna, C. | |
| Discussant: | Ms. Lochana Prasadi | |
| 12. | Factors Affecting Fintech Adoption in the Small Food Businesses in Sri Lanka | |
| Author(s): | Lakshan, W.M. Dananji, D.G.T. Dinethmaa, M.S. Yapa, S. Hettiarachchi, S. |
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| Presenter: | Hettiarachchi, S. | |
| Discussant: | Dr. Heshan Sameera | |
| 13. | Impact of Digital Financial Knowledge, Digital Skills, Digital Experience and Digital Awareness on Financial Behaviour Among Women Entrepreneurs in Sri Lanka | |
| Author(s): | Kavishemi, S. Buvanendra, S. |
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| Presenter: | Kavishemi, S. | |
| Discussant: | Prof. (Ms.) L. Kengatharan | |
| 11:30 AM – 01:00 PM | Session E: Financial Market Development, Institutions, and Regulation | |
| Chair: | Prof. A.G.C. Gunathilake, Professor, University of Sri Jayewardenepura, Sri Lanka | |
| Conveners: | Ms. Suwani Hettiarachchi, Ms. Nirmani Pulle | |
| 14. | Impact of Non-Performing Loans on the Financial Performance of Non-Bank Financial Institutions in Sri Lanka | |
| Author(s): | Wellappili, S. Nanayakkara, M.S. |
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| Presenter: | Wellappili, S. | |
| Discussant: | Ms. Senani Thenuwara | |
| 15. | Impact of Corporate Governance on Financial Performance: Evidence from Top 50 Market-Capitalized Companies in Listed Sri Lanka | |
| Author(s): | Sampavi, A. Farveen, M.N.N. |
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| Presenter: | Sampavi, A. | |
| Discussant: | Ms. Piyumika Rathnasuriya | |
| 16. | Effect of Corruption and Money Laundering on the Profitability of Licensed Finance Companies in Sri Lanka | |
| Author(s): | Madushan, R.D.A. Chethamini, N.E.G. Liyanage, C. |
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| Presenter: | Madushan, R.D.A. | |
| Discussant: | Dr. Wisura Weerathunga | |
01.30 PM - 02.00 PM - Awards Ceremony and Concluding Remarks
| 01:30 PM – 02:00 PM | Presentation of Best Paper Awards | |
| Prof. A.G.C. Gunathilake, Vice-President, Sri Lanka Finance Association | ||
| Chair, Best Paper Selection Committee: Prof. Lalith Samarakoon | ||
| Presentation of Service Appreciation and Achievement Awards | ||
| Dr. Wisura Weerathunga, SLIIT Business School | ||
| Concluding Remarks | ||
02.00 PM - 06.00 PM - Break
Break
06.00 PM - 07.00 PM - Industry Panel Discussion
The New Frontiers of Finance: Artificial Intelligence, Fraud Detection, and the Future of Corporate Governance
Prof. Ferdinand A. Gul
Professor of Accounting and Finance
University of Sunshine Coast
Dr. Nandika Buddhipala
Independent Director
Sarvodaya Development Finance PLO
Mr. Channa Gunawardana
Chairman – Litro Gas PLO
Executive Director
Dankotuwa Porcelain Group
Founder & Lead Lecturer – Nanaska
Moderator:
Dr. Wisura Weerathunga
Assistant Professor
SLIIT Business School, SLIIT