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Lalith Samarakoon

Professor

  • Education
  • B.Sc., Business Administration, University of Sri Jayewardenepura
    M.B.A., Finance, University of New Hampshire
    Ph.D., Finance, University of Houston
  • Research Interests
  • International finance, with a particular focus on emerging and frontier markets.

Lalith Samarakoon is a professor of finance at the Opus College of Business of the University of St. Thomas in the Twin Cities. Previously, he taught at the Bauer College of Business of the University of Houston, Alabama A&M University and the University of Sri Jayewardenepura in Sri Lanka. He is also a Chartered Accountant and a Certified Financial Analyst. He served as the Chair of the Department of Finance at the University of St. Thomas and Head of the Department of Accountancy and Financial Management at the University of Sri Jayewardenepura. Most recently, he served as the Secretary-General and Chief Economist of the National Economic Council of Sri Lanka, handling economic and financial development and policy matters.

 Samarakoon’s primary area of research is international finance and economics, with particular focus on emerging market and developing economies. Recipient of research grants and awards, Samarakoon has published numerous scholarly articles in asset pricing, market efficiency, macroeconomy and stock prices, corporate finance, and financial crises including the eurozone debt crisis and the U.S. subprime crisis. His current work focuses on monetary policy, asset bubbles, international transmission of economic and financial crises and global economic and financial policies. He is a Global Business Research Fellow.

 Samarakoon teaches Global Finance Policy, Global Economics and Financial Management, and serves as the Director of two China study-abroad programs - Global Financial Services and Emerging Financial Markets. He has also authored four books on securities markets and received the Melcher Award for Teaching Excellent from the University of Houston.

 As an International Financial Economist, Samarakoon has consulted with the World Bank, United States Agency for International Development, Asian Development Bank and the Japanese International Development Agency for nearly three decades in financial sector development.  He has extensive corporate experience in financial services, particularly in investment banking and securities industries.

  • Samarakoon, L. P. (2017). Contagion of the Eurozone debt crisis. Journal of International Financial Markets, Institutions and Money,
  • Samarakoon, L. P., & Kadapakkam, P. (2014). The two-tier board system and underpricing of initial public offerings: Evidence from Austria. Corporate Ownership and Control, (12)(1), pp. 352-362
  • Fonseka, M. M., Samarakoon, L. P., & Tian, G. (2012). Equity financing capacity and stock returns: Evidence from China. Journal of International Financial Markets, Institutions and Money, (22), pp. 1277-1291
  • Samarakoon, L. P. (2011). Stock market interdependence, contagion, and the U.S. financial crisis: The case of emerging and frontier markets. Journal of International Financial Markets, Institutions and Money, (21)(2011), pp. 724-742
  • Samarakoon, L. P. (2010). The short-run underpricing of initial public offerings in Sri Lankan Stock market. Journal of Multinational Financial Management, (20), pp. 197-213
  • Samarakoon, L. P. (2010). Asymmetric investor behavior between buyside and sellside: Evidence from investor classes in the Sri Lankan stock market. Journal of Multinational Financial Management, (20), pp. 93-113
  • Samarakoon, L. P. (2009). The relation between trades of domestic and foreign investors and stock returns in Sri Lanka. Journal of International Financial Markets, Institutions and Money, pp. 850-861
  • Samarakoon, L. P., & Jaleel, F. M. (2009). Stock market liberalization and return volatility: Evidence from the emerging stock market of Sri Lanka. Journal of Multinational Financial Management, (19), pp. 409-423
  • Samarakoon, L. P. (2004). Efficiency of the Sri Lankan stock market. (1), pp. 1-22
  • Samarakoon, L. P., & Hasan, T. (2003). Altman's Z-Score models of predicting corporate distress: Evidence from the emerging Sri Lankan stock market. (1), pp. 119-125
  • Samarakoon, L. P., & Dissa Bandara, D. (2002). Dividend announcements, firm size and dividend growth in the Sri Lankan stock market. (7)(3 & 4), pp. 228-245
  • Samarakoon, L. P., & Hasan, T. (2000). Short-term interest rates and expected stock returns in Sri Lanka. (6), pp. 337-348
  • Samarakoon, L. P. (1999). The capital structure of Sri Lankan companies. (4), pp. 18-30
  • Samarakoon, L. P. (1999). The ownership structure of Sri Lankan companies. (4), pp. 143-171
  • Samarakoon, L. P., Hasan, T., & Hasan, S. (1999). Stock price behavior in a less developed market: Evidence from Sri Lanka. Journal of Applied Business Research, (16), pp. 15-23
  • Samarakoon, L. P. (1998). Indices to measure the performance of the Sri Lankan corporate bond market. (3), pp. 186-203
  • Samarakoon, L. P. (1998). An Index to measure the performance of the Sri Lankan Treasury bond market. (3), pp. 204-220
  • Samarakoon, L. P. (1997). The cross-section of expected stock returns in Sri Lanka. (2)(3), pp. 233-250
  • Samarakoon, L. P. (1997). Stocks, bills and inflation in Sri Lanka. Vidyodaya Journal of Social Science, (8), pp. 17-183
  • Samarakoon, L. P. (1996). Predictability of short-horizon returns in the Sri Lankan stock market. (1), pp. 207-224
  • Samarakoon, L. P. (1996). Credit rating factors for corporate bonds. (6), pp. 16-20
  • Samarakoon, L. P. (1996). Stock market returns and inflation: Sri Lankan evidence. (1), pp. 293-311
  • Samarakoon, L. P., & Hosseini, J. (1989). Decision support systems for drilling oil wells. (13), pp. 101-110
  • Samarakoon, L. P. (2011). The financial market in Sri Lanka (Tamil translation), 1st ed.. Colombo, Sri Lanka Colombo, Sri Lanka: Securities and Exchange Commission of Sri Lanka
  • Samarakoon, L. P. (2010). Equity securities: Theory and practice, 1st ed. Sri Lanka Sri Lanka: Securities & Exchange Commission of Sri Lanka
  • Samarakoon, L. P. (2010). Debt securities: Markets, instruments and analysis, 1st ed... Sri Lanka Sri Lanka: Securities & Exchange Commission of Sri Lanka
  • Samarakoon, L. P. (2009). The financial market in Sri Lanka - 1st ed. Sinhala Sinhala: Securities and Exchange Commission of Sri Lanka
  • Samarakoon, L. P. (2005). Portfolio performance evaluation.
  • Samarakoon, L. P. (2005). Securities market in Sri Lanka, 4th ed. Sri Lanka Sri Lanka: Sri Lanka Securities & Exchange Commission
  • Samarakoon, L. P. (2000). Sri Lankan Corporate Bond Market, 1st ed.. Sri Lanka Sri Lanka: Nawala
  • American Finance Association
  • Financial Management Association
  • Global Finance Association
  • Journal of Corporate Governance and Sustainability Review, Editorial Board Member
  • Journal of Risk and Control, Editorial Board Member
  • Review of Quantitative Finance and Accounting, Reviewer
  • Journal of Business Research, Reviewer
  • Journal of Financial Stability, Reviewer
  • Emerging Markets Finance and Trade, Reviewer
  • International Review of Financial Analysis, Reviewer
  • Journal of International Financial Markets, Institutions and Money, Reviewer
  • Journal of Multinational Financial Management, Reviewer
  • Journal of Risk and Control, Editorial Board Member
  • North American Journal of Economics and Finance, Reviewer
  • Sri Lanka Finance Association, President
  • The African Finance Journal, Reviewer
  • The Financial Review, Reviewer
  • CFA Institute
  • European Financial Management Association
  • Institute of Chartered Accountants of Sri Lanka
  • Professor, University of St. Thomas, Minneapolis / St. Paul (2012 - present)
  • Department Chair - Finance, University of St. Thomas, St. Paul / Minneapolis (2011 - 2015)
  • Associate Professor, University of St. Thomas, St. Paul / Minneapolis (2001 - 2012)
  • Visiting Professor, University of Houston, Houston (2000 - 2001)
  • Professor of Finance, University of Sri Jayewardenepura, (2000 - 2001)
  • Senior Lecturer in Finance, University of Sri Jayewardenepura, (1994 - 2000)
  • Head, Department of Accountancy and Financial Management, University of Sri Jayewardenepura (1997-1998)
  • Assistant Professor of Finance, Alabama A&M University, (1993 - 1994)
  • Assistant Lecturer in Business Administration, University of Sri Jayewardenepura, (1985 - 1994)
  • Teaching Fellow in Finance, University of Houston, Houston (1989 - 1993)