Conference Program

1st Annual Emerging Financial Markets and Policy Conference - EFMP 2021

Conference Program

“Challenges and Opportunities Facing Emerging Financial Markets”
Sri Lanka Finance Association

26th June 2021, Colombo, Sri Lanka
Virtual Conference
8:00 AM – 6:00 PM Sri Lanka Time

Join the Conference

Please click below to pre-register and join the sessions below. Please note that you need to register for each of the two links.

Click to Join Main Session and Concurrent Sessions A
(Inauguration, Keynote Address, Publishing in Finance, Industry Panel Discussion, Conclusion, Sessions A1, A2, A3, A4)

Click to Join Concurrent Sessions B
(Sessions B1, B2, B3, B4)

08.00 AM - 08.10 AM - Commencement

Welcome Address
Manjula Wanniarachchige, University of Ruhuna, Sri Lanka
Secretary-Conferences, Sri Lanka Finance Association

Address by the President
Lalith Samarakoon, University of St. Thomas, Minnesota, USA
President, Sri Lanka Finance Association

08.10 AM - 08.40 AM - Keynote Address

The Challenge of Meeting Sustainable Development Goals (SDG) while Fostering Green Finance

Jonathan A. Batten
Professor of Finance, RMIT University, Australia

https://slfa.lk/wp-content/uploads/2021/06/batten_jonathan_2-640x480.jpg

Jonathan A. Batten is a Professor of Finance at RMIT University Melbourne and the Managing Editor of Elsevier’s Journal of International Financial Markets, Institutions & Money (JIFMIM), Co- Editor of Finance Research Letters, and Senior Editor of Emerging Markets Review. Prof. Batten also serves on the Editorial Advisory Board of the Journal of Emerging Financial Markets and Policy.

He remains an Honorary Professor at the University of Sydney Australia and the East China University of Science and Technology Shanghai China. He previously held the CIMB-UUM Chair in Banking and Finance at University Utara Malaysia.

Prior to working in academia, Prof. Batten held senior treasury and risk management consulting positions with several institutions including Bank of Tokyo, Credit Lyonnais, IBM Consulting and Reuters Ltd.

Prof. Batten’s published research crosses several disciplines: firstly, in the business area on insider trading and market manipulation, bond pricing and corporate foreign exchange risk management; secondly, in energy and applied mathematics on complexity in financial time series and market integration; and thirdly, in economic policy on financial market development and the societal impacts of foreign direct investment. His current research is based on assessing the impact on banking and financial markets of the expected worldwide shift to renewable energy and adjusting to the effects of climate change.

Chair
Hareendra Dissabandara
University of Sri Jayewardenepura, Sri Lanka
Executive Secretary, Sri Lanka Finance Association

08.40 AM - 10.10 AM Concurrent Sessions A1 & B1

Session A1: Corporate Finance, Capital Markets & Private Equity

Chair:
P.D. Nimal
University of Sri Jayewardenepura, Sri Lanka

Convener:
K.D.T.N. Weerasinghe
University of Ruhuna, Sri Lanka

1 Do Investors Listen? Exploring the Effectiveness of Investor Relationship Management on Firm-Specific Information Content
Author(s): Paramita Gupta, California State University – Long Beach,  USA
Dan He, Southwestern University of Finance and Economics, China
Yulong Ma, California State University – Long Beach, USA
Jasmine Yur-Austin, California State University – Long Beach, USA
Presenter: Yulong Ma
Discussant: Mohan Fonseka, Xi’an Jiaotong University, Xi’an, China
2 Factors Contributing to the Changes in Broker Credit Directives; Evidence from Sri Lanka
Author(s): Kaushalya Gayani, University of Sri Jayewardenepura, Sri Lanka
Hareendra Dissabandara, University of Sri Jayewardenepura, Sri Lanka
Presenter: Kaushalya Gayani
Discussant: T.U.I. Peiris, Sabaragamuwa University of Sri Lanka
3 Determinants of Private Equity: Review of Empirical Studies
Author(s): Vrinda Rawal, Indian Institute of Foreign Trade
Sheeba Kapil, Indian Institute of Foreign Trade, India
Presenter: Vrinda Rawal
Discussant: Rathnasiri Ranasinghe, Wayamba University of Sri Lanka

Session B1: Money Laundering, Micro Finance and Real Estate

Chair:
Suresh De Mel
University of Peradeniya, Sri Lanka

Convener:
Indunil Ediriweera
Wayamba University of Sri Lanka

4 An Index to Assess Risk of Money Laundering in Designated Non-Financial Institutions, Challenges faced by Emerging Market Economies and a Case Study for Sri Lanka
Author(s): Theja Samarasinghe, Central Bank of Sri Lanka
Presenter: Theja Samarasinghe
Discussant: David Shannon, Asia-Pacific Group on Money Laundering
5 Impact of Microfinance Programme on Micro-Enterprises Development: A Case of Gandaki Province, Nepal
Author(s): Bharat Ram Dhungana, Pokhara University, Nepal
Deepesh Ranabhat, Pokhara University, Nepal
Presenter: Deepesh Ranabhat
Discussant: Ruwan Abeysekera, University of Kelaniya, Sri Lanka
6 Determinants of Profitability in the Real Estate Industry: A Comparative Study between Sri Lanka and Japan
Author(s): N.D. Kaluarachchi, Ritsumeikan Asia Pacific University, Japan
Presenter: N.D. Kaluarachchi
Discussant: R.M.N.C. Swarnapali, Rajarata University of Sri Lanka
10.10 AM - 10.20 AM - Break

Break

10.20 AM - 11.50 AM - Concurrent Sessions A2 & B2

Session A2: Behavioral Finance

Chair:
Anup Basu
Queensland University of Technology, Australia

Convener:
Navini Perera
University of Kelaniya, Sri Lanka

7 Who Gets Believed? Trust and Investor Reaction to Earnings Announcements
Author(s): Q.N. Ahmed, Sindh Madressatul Islam University, Pakistan
S. Sharif, Institute of Business Administration, Pakistan
Presenter: S. Sharif
Discussant: A.L. Abdul Rauf, South Estern University of Sri Lanka
8 Influence on Psychological Biases in Financial Investment Behaviour: Evidence from Selected Sri Lankan Investors
Author(s): Chamika Chandrasiri, University of Kelaniya, Sri Lanka
Uththara Dissanayake, University of Kelaniya, Sri Lanka
Susima Weligamage, University of Kelaniya, Sri Lanka
Presenter: Uththara Dissanayake
Discussant: Bharat Ram Dhungana, Pokhara University, Nepal
9 Structural Equation Modeling Approach of Measuring Perceived Behavioral Factors Affecting an Investor’s Decision in the Stock Market of Nepal
Author(s): Bibek Karmacharya, Pokhara University, Nepal
Ramkrishna Chapagain, Pokhara University, Nepal
Bharat Ram Dhungana, Pokhara University, Nepal
Kanhaiya Singh, GLA University, India
Presenter: Ramkrishna Chapagain
Discussant: Lingesiya Kengatharan, University of Jafna, Sri Lanka

Session B2: Corporate Governance

Chair:
Roshan Ajward
University of Sri Jayewardenepura, Sri Lanka

Convener:
Suminda Bogamuwa
Wayamba University of Sri Lanka

10 An Evaluation of the Compliance of Sri Lankan Companies with Corporate Governance Principles and Best Practices: Empirical Evidence from Sri Lanka
Author(s): D.H.S.W. Dissanayake, University of Sri Jayewardenepura, Sri Lanka
Hareendra Dissabandara, University of Sri Jayewardenepura, Sri Lanka
Roshan Ajward, University of Sri Jayewardenepura, Sri Lannka
Presenter: D.H.S.W. Dissanayake
Discussant: Emil Sudath Kumara, Wayamba University of Sri Lanka
11 Corporate Governance Practices and Intellectual Capital Disclosure: Evidence from Non Financial Institutions in Sri Lanka
Author(s): Dimon Ford Jeyan Suganya, University of Jaffna, Sri Lanka
Presenter: Dimon Ford Jeyan Suganya
Discussant: Roshan Ajward, University of Sri Jayewardenepura, Sri Lanka
12 Can Ownership Concentration Reduce Firm Performance? Evidence from Firms Listed in Colombo Stock Exchange under Banks, Diversified Financials and Insurance Sectors
Author(s): Dhanushika Samarawickrama,University of Ruhuna, Sri Lanka
Manjula K. Wanniarachchige, University of Ruhuna, Sri Lanka
K.D.T.N. Weerasinghe,University of Ruhuna, Sri Lanka
Presenter: Dhanushika Samarawickrama
Discussant: Hareendra Dissabandara, University of Sri Jayewardenepura, Sri Lanka
11.50 AM - 12.20 PM - Lunch Break

Lunch Break

12.20 PM - 12.50 PM - Special Session

Publishing Research in Finance
Jonathan Batten
Professor of Finance
RMIT University, Australia

Managing Editor of Journal of International Financial Markets, Institutions & Money, Co-Editor of Finance Research Letters, Senior Editor of Emerging Markets Review

Moderator:
Athula Ekanayake
University of Peradeniya, Sri Lanka
Vice President, Sri Lanka Finance Association
Managing Editor, Journal of Emerging Financial Markets and Policy

12.50 PM - 01.00 PM - Break

Break

01.00 PM - 02.30 PM - Concurrent Sessions A3 & B3

Session A3: Capital Structure, Working Capital & Taxation

Chair:
Yasushi Suzuki
Ritsumeikan Asia Pacific University, Japan

Convener:
Nishani Ekanayake
University of Colombo, Sri Lanka

13 Static Trade-off and Pecking Order Models of Capital Structure: An Empirical Testing in Sri Lankan Listed Companies
Author(s): K. Kalainathan, Vavuniya Campus of the University of Jaffna, Sri Lanka
L. Kengatharan, University of Jaffna, Sri Lanka
Presenter: K. Kalainathan
Discussant: Indunil Dayaratne, Sabaragamuwa University of Sri Lanka
14 Impact of Working Capital Management on Firm’s Profitability: Evidence from Listed Insurance Companies in the Colombo Stock Exchange
Author(s): M.M.S.K.B. Bogamuwa, Wayamba University of Sri Lanka
H.G.N. Sewwandi, Wayamba University of Sri Lanka
Presenter: M.M.S.K.B. Bogamuwa
Discussant: R.P.C.R. Rajapakse, University of Sri Jayewardenepura,Sri Lanka
15 The Impact of Taxation on Investment Decisions of the CSE Listed Manufacturing Companies in Sri Lanka
Author(s): O.D. Peiris Pulle, Eastern University of Sri Lanka
T. Paranathaman, Eastern University of Sri Lanka
Presenter: O.D. Peiris Pulle
Discussant: Saqib Sharif, Institute of Business Administration, Pakistan

Session B3: Monetary Policy & Banking

Chair:
Chandranath Amarasekara
Central Bank of Sri Lanka

Convener:
K.J.T. Perera
Uva Wellassa University, Sri Lanka

16 Dynamics of Banking Performance and Economic Growth: Long Run Financial Development in Sri Lanka
Author(s): Tharangi Jayamali Wanigasuriya, University of Peradeniya, Sri Lanka
Presenter: Tharangi Jayamali Wanigasuriya
Discussant: K.V. Aruna Shantha, Rajarata University of Sri Lanka
17 Monetary Policy Rules and Zero Lower Bound on Nominal Interest Rates in a Cost Channel Economy
Author(s): Lasitha R.C. Pathberiya, Central Bank of Sri Lanka
Presenter: Lasitha R.C. Pathberiya
Discussant: Siddhartha Chattopadhyay, Indian Institute of Technology, Kharagpur, India
18 The Impact of Social Capital on Operational Performance: Evidence from Domestic Licensed Commercial Banks in Sri Lanka
Author(s): D.M. Nuwangani, Uva Wellassa University, Sri Lanka
Y.M.C. Gunaratne, Uva Wellassa University, Sri Lanka
Presenter: D.M. Nuwangani
Discussant: Chandana Gunathilaka, University of Sri Jayewardenepura, Sri Lanka
02.30 PM - 02.40 PM - Break

Break

02.40 PM - 04.10 PM - Concurrent Sessions A4 & B4

Session A4: Corporate Governance & Behavioral Finance

Chair:
Suba Menike
Sabaragamuwa University of Sri Lanka

Convener:
R. Kajananthan
University of Jaffna, Sri Lanka

19 Institutional Adoption of Principle-Based Corporate Governance Practices: Study on the Listed Food, Beverage and Tobacco Industry in Sri Lanka
Author(s): Imalka Lewliyadda, Uva Wellassa University of Sri Lanka
K.M.M.C.B. Kulathunga, Uva Wellassa University of Sri Lanka
K. Charith, Uva Wellassa University of Sri Lanka
Presenter: Imalka Lewliyadda
Discussant: Nishani Ekanayake, University of Colombo, Sri Lanka
20 Impact of Ownership Structure on Financial Performance: With Special Reference to Commercial Banks in Sri Lanka
Author(s): P.S.M. Perera ,University of Ruhuna, Sri Lanka
K.D.T.N. Weerasinghe, University of Ruhuna, Sri Lanka
Presenter: P.S.M. Perera
Discussant: P.A.N.S. Anuradha, University of Sri Jayewardenepura, Sri Lanka
21 The Impact of Behavioral Factors on Individual Investment Decisions of Equity Investors: with Special Reference to Kurunegala Area
Author(s): Ravihari Gamage, Rajarata University, Sri Lanka
Nishantha Wijekumara, Rajarata University, Sri Lanka
Kaushalya Sugathadasa, Rajarata University, Sri Lanka
Presenter: Ravihari Gamage
Discussant: C. Pathirawasam, University of Kelaniya, Sri Lanka

Session B4: Debt Markets, Corporate Governance & Investments

Chair:
Sohrab Uddin
University of Chittagong, Bangladesh

Convener:
D. Samarawickrama
University of Ruhuna, Sri Lanka

22 Indian Corporate Bond Yield Spreads, Credit Rating and Its Determinants
Author(s): Thadavillil Jithendranathan, University of St. Thomas, USA
Mary S. Daugherty, University of St. Thomas, USA
T. Guru Sant, GLA University, India
Rekha Bawa, GLA University, India
Presenter: Guru Sant
Discussant: Prakash Singh, Indian Institute of Management – Lucknow, India
23 Do Firms with Better Corporate Governance Yield Higher Stock Returns? Evidence from Firms Listed in Colombo Stock Exchange
Author(s): Manjula K. Wanniarachchige, University of Ruhuna, Sri Lanka
Dinukee De Silva, University of Ruhuna, Sri Lanka
Presenter: Dinukee De Silva
Discussant: Maduranga Kulathunga, Uwa Wellassa Univesity of Sri Lanka
24 The Effect of Size on Stock Returns in an Emerging Financial Exchange
Author(s): M. Farhan, Pakistan Navy School of Logistics, Pakistan
S. Sharif, Institute of Business Administration, Pakistan
Presenter: S. Sharif
Discussant: S.M. Sohrab Uddin, University of Chittagong, Bangladesh
04.10 PM - 04.20 PM - Break

Break

04.20 PM - 05.20 PM - Industry Panel Discussion

Challenges and Opportunities Facing Sri Lanka and Emerging Markets

https://slfa.lk/wp-content/uploads/2021/06/mr.-rajeeva-bandaranaike-160x160.jpg

Rajeeva Bandaranaike
Chief Executive Officer
Colombo Stock Exchange

https://slfa.lk/wp-content/uploads/2021/06/Mr-Nandika-Buddhipala-160x160.jpg

Nandika Buddhipala
Chief Financial Officer
Commercial Bank of Ceylon

https://slfa.lk/wp-content/uploads/2021/06/Mr-Manil-Jayesinghe-160x160.jpg

Manil Jayesinghe
President
CA Sri Lanka

https://slfa.lk/wp-content/uploads/2021/06/Maninda-Wickramasinghe-160x160.png

Maninda Wickramasinghe
Managing Director/CEO
Fitch Ratings Lanka Ltd.

Moderator:
Lalith Samarakoon
President
Sri Lanka Finance Association

Convener:
K.A.V. Aruna Shantha
Rajarata University of Sri Lanka
Co-Secretary, EFMP 2021

05.20 PM - 05.45 PM - Conclusion

Convener: Emil Sudath Kumara, Wayamba University of Sri Lanka; Co-Secretary, EFMP 2021

Presentation of Major Events and Activities of SLFA – 2021

International Undergraduate Finance Research Conference
D.A.I. Dayarathne, Sabaragamuwa University of Sri Lanka
Director – Student Affairs, Sri Lanka Finance Association

Seminars
Y.K. Weerakoon Banda, University of Sri Jayewardenepura, Sri Lanka
Secretary – Seminars, Sri Lanka Finance Association

Financial Education
R. Yogendrarajah, University of Jaffna, Sri Lanka
Director – Financial Education, Sri Lanka Finance Association

Presentation of Best Paper Awards
Suzuki Yasushi, Ritsumeikan Asia Pacific University, Japan
Chair, Best Paper Selection Committee

Presentation of Service Appreciation and Achievement Awards
Lalith Samarakoon, The President, Sri Lanka Finance Association
Hareendra Dissabandara, Executive Secretary, Sri Lanka Finance Association

Vote of Thanks
K.M.M.C.B. Kulathunga, Uva Wellassa University of Sri Lanka; Co-Secretary, EFMP 2021

Download the Conference Program

Copyright © The Sri Lanka Finance Association 2021. All rights reserved. Designed by Xenosys

Contact

Sri Lanka Finance Association
Department of Finance
Faculty of Management Studies and Commerce
University of Sri Jayewardenepura
Gangodawila, Nugegoda, Sri Lanka