Lalith Samarakoon

Professor, Finance

2115 Summit Ave
McNeely Hall 333
St. Paul, MN 55105

B.Sc., Business Administration, University of Sri Jayewardenepura
M.B.A., Finance, University of New Hampshire
Ph.D., Finance, University of Houston

See publications in UST Research Online

Lalith Samarakoon is a professor of finance. He also holds professional credentials as a chartered accountant and a certified financial analyst. Samarakoon teaches Contemporary Global Finance Issues, Global Financial Services (China course), International Finance and Financial Management. His primary area of research is international finance, with particular focus on emerging and frontier markets. He has published numerous scholarly articles dealing with issues such as market liberalization and return volatility, investment behavior of investor classes, return predictability, relation between returns and inflation, interest rates and dividends, tests of asset pricing models, mean reversion in stock prices, ownership structure, capital structure, initial public offerings, and stock market interdependence, contagion, and the U.S. financial crisis. He also published four texts relating to stock and bond markets.

His current research focuses on financial and policy issues associated with financial crises, particularly the European debt crisis, monetary policy and asset bubbles. He is an international expert in financial sector and capital market development and government debt management. As a financial economist, he has worked with key multilateral organizations such as the World Bank, USAID and ADB, and financial market institutions, investment and commercial banks. Samarakoon has held multiple leadership positions in academia and the private sector and has international leadership experience in business school restructuring and reforms, academic administration, corporate outreach, curriculum design, program development and management. He has received awards for excellence in teaching and research.

Summer 2016 Courses
Summer 2016 Courses
Crs - Sec Title Days Time Location
Fall 2016 Courses
Fall 2016 Courses
Crs - Sec Title Days Time Location
FINC 600 - 203 Financial Management See Details * *
Description of course Financial Management : CRN: 43065
This course will focus on the financial management of business. It will cover the following subject matter: risk, return, evaluation, cost of capital, capital budgeting, long-term financing, capital structure theory, financial analysis and planning, and working capital management. The international aspect of financial management will be covered as it applies to the subject matter outlined above. -- Prerequisites: OPMT600, ACCT601, GBEC600 or GBEC625
Schedule Details
Location Time Day(s)
SCH 3011730-213008 Sep '16
SCH 3011730-213029 Sep '16
SCH 3011730-213020 Oct '16
SCH 3011730-213010 Nov '16
SCH 3011730-213008 Dec '16
FINC 755 - 201 Global Finance Issues & Policy See Details * *
Description of course Global Finance Issues & Policy : CRN: 43071
This course critically examines the current finance and economic crises and issues faced by specific countries and the global financial system as a whole with a view to understand the causes, consequences, and implications of such issues and formulate appropriate policies to deal with, prevent, or mitigate such issues. The specific topics of this course may vary from year to year depending on the current global financial crises and issues, but will not duplicate existing courses. Prerequisite: FINC 600
Schedule Details
Location Time Day(s)
SCH 4191730-213012 Sep '16
SCH 4191730-213003 Oct '16
SCH 4191730-213024 Oct '16
SCH 4191730-213014 Nov '16
SCH 4191730-213005 Dec '16
J-Term 2017 Courses
J-Term 2017 Courses
Crs - Sec Title Days Time Location
FINC 752 - SA Global Financial Services - - - - - - - -
Description of course Global Financial Services : CRN: 10208
This course is designed to blend theory and practice regarding the structure and markets of global financial services. Expert presenters in each location will present topics such as investment banking, commercial banking, investment theory and practice, institutional wealth management, insurance, risk management, real estate and other real assests, custodial and transaction processing, political risk, social environment, regional economics, and currency and monetary policy. The lead faculty will coordinate the analysis, synthesis, and evaluation of the course content by the students. Emphasis on the global market will provide students with a broad perspective of the global economy and its interrelationships. Location varies.
Schedule Details
Location Time Day(s)
Academic and Professional Positions
  • Professor, University of St. Thomas, Mineapolis / 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 Associate 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)
  • 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)

Professional Memberships
  • CFA Institute
  • European Financial Management Association
  • Institute of Chartered Accountants of Sri Lanka
  • Minnesota CFA Society
  • Sri Lanka Association for the Advancement of Science

Professional Service
  • Emerging Markets Finance and Trade, Reviewer
  • Financial Management Association European Conference, Reviewer
  • International Journal of Management Science and Engineering Management, Reviewer
  • International Review of Financial Analysis, Reviewer
  • Journal of International Financial Markets, Institutions and Money, Reviewer
  • Journal of Multi-disciplinary Studies, Reviewer
  • Journal of Multinational Financial Management, Reviewer
  • Journal of Risk and Control,
  • North American Journal of Economics and Finance, Reviewer
  • The African Finance Journal, Reviewer
  • The Financial Review, Reviewer

Publications
  • 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. Sri Lanka Journal of Business Economics, (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. The Journal of the Academy of Finance, (1), pp. 119-125
  • Samarakoon, L. P., & Dissa Bandara, D. (2002). Dividend announcements, firm size and dividend growth in the Sri Lankan stock market. Sri Lankan Journal of Management, (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. Sri Lankan Journal of Management, (4), pp. 18-30
  • Samarakoon, L. P. (1999). The ownership structure of Sri Lankan companies. Sri Lankan Journal of Management, (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). An Index to measure the performance of the Sri Lankan Treasury bond market. Sri Lankan Journal of Management, (3), pp. 204-220
  • Samarakoon, L. P. (1998). Indices to measure the performance of the Sri Lankan corporate bond market. Sri Lankan Journal of Management, (3), pp. 186-203
  • Samarakoon, L. P. (1997). The cross-section of expected stock returns in Sri Lanka. Sri Lankan Journal of Management, (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). Stock market returns and inflation: Sri Lankan evidence. Sri Lankan Journal of Management, (1), pp. 293-311
  • Samarakoon, L. P. (1996). Predictability of short-horizon returns in the Sri Lankan stock market. Sri Lankan Journal of Management, (1), pp. 207-224
  • Samarakoon, L. P. (1996). Credit rating factors for corporate bonds. (6), pp. 16-20
  • Samarakoon, L. P., & Hosseini, J. (1989). Decision support systems for drilling oil wells. (13), pp. 101-110

Books and Chapters
  • 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

Research Interests
  • Global Finance Issues and Policy
  • International Transmission of Financial Crises
  • Eurozone Crisis
  • Monetary Policy and Asset Bubbles

Presentations
  • "Contagion of the Eurozone debt crisis" International Finance and Banking Society Conference, Lisbon, Portugal, June 01, 2014
  • "Contagion of the Eurozone debt crisis" European Financial Management Association, Rome, Italy, June 01, 2014
  • "Equity financing capacity and stock returns: Evidence from China" FMA - Financial Management Association, Atlanta, Georgia, October 01, 2012
  • "Equity financing capacity and stock returns: Evidence from China" FMA - Financial Management Association, Atlanta, Georgia, October 01, 2012
  • "Equity financing capacity and stock returns: Evidence from China" Global Finance Conference, Chicago, IL, May 01, 2012
  • "Equity financing capacity and stock returns: Evidence from China" Global Finance Conference, Chicago, IL, May 01, 2012
  • "External financing capacity and stock returns in Chinese firms" Symposium on Empirical Accounting Research in China, KunMing, China, December 01, 2011
  • "External financing capacity and stock returns in Chinese firms" Symposium on Empirical Accounting Research in China, KunMing, China, December 01, 2011
  • "Stock market interdependence, contagion, and the U.S. financial crisis: The case of emerging and frontier markets" Opus College of Business Research Seminar, University of St. Thomas, Minneapolis, Minnesota, November 01, 2011
  • "External financing capacity and stock returns in Chinese firms" Symposium of China Journal of Accounting Research, Xiamen, China, November 01, 2011
  • "External financing capacity and stock returns in Chinese firms" Symposium of China Journal of Accounting Research, Xiamen, China, November 01, 2011
  • "Stock market interdependence, contagion, and the U.S. financial crisis: The case of emerging and frontier markets" FMA - Financial Management Association, Denver, CO, October 01, 2011
  • "Two-tier board system and underpricing of initial public offerings: Evidence from Austria" Academic Corporate Reporting and Governance Conference, Irvine, CA, September 01, 2011
  • "Two-tier board system and underpricing of initial public offerings: Evidence from Austria" Academic Corporate Reporting and Governance Conference, Irvine, CA, September 01, 2011
  • "Stock market interdependence, contagion, and the U.S. financial crisis: The case of emerging and frontier markets" Global Finance Conference, Bangkok, Thailand, April 01, 2011
  • "The short-run underpricing of initial public offerings in the Sri Lankan stock market" Opus College of Business Research Seminar, Saint Paul, Minnesota, April 01, 2011
  • "Initial public offerings and the performance of investor types in Sri Lanka'" OCB Summer Research Seminar, January 01, 2008
  • "Stock markets in the Russian Federation, transitional Europe and the United States: Profitability vs. pessimism / optimism" Midwest Business Administration Meetings, Chicago, Illinois, January 01, 2003
  • "Altman's Z-Score models of predicting corporate distress: Evidence from the emerging Sri Lankan stock market" Midwest Finance Association, Chicago, Illinois, January 01, 2003
  • "'The behavior of equity flows in emerging markets: Evidence from different investor types in the Sri Lankan stock market'" Southern Finance Association, Key West, FL, January 01, 2002
  • "The behavior of equity flows in emerging markets: Evidence from different investor types in the Sri Lankan stock market'" Southern Finance Association, Key West, Florida, January 01, 2002
  • "The behavior of equity flows in emerging markets: Evidence from different investor types in the Sri Lankan stock market." FMA-Financial Management Association, San Antonio, Texas, January 01, 2002