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 and the chair of the Department of Finance. He also holds professional credentials as a chartered accountant and a certified financial analyst. Samarakoon teaches Contemporary Global Finance Issues, International Finance, Financial Management and Investments.

Samarakoon's primary area of research is international finance, with particular focus on emerging and frontier markets. He has published numerous scholarly articles in 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 has also published four texts. His current research focuses on understanding financial and policy issues associated with financial crises, specially the European debt crisis.

Samarakoon 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, and has held multiple leadership positions in academia and the private sector. He also 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 2015 Courses
Summer 2015 Courses
Crs - Sec Title Days Time Location
Fall 2015 Courses
Fall 2015 Courses
Crs - Sec Title Days Time Location
FINC 321 - 06 Financial Management - T - R - - - 0800 - 0940 MCH 231
Description of course Financial Management : CRN: 42932
An examination of the elements of the finance function of the organization as well as the financial analysis of decisions. Topics include working capital management, acquisition of capital, capital budgeting, cost of capital, theories of valuation, and present value. Prerequisites: ACCT 210, ACCT 215 (or ACSC 320 for actuarial majors), STAT 220 (MATH 313 or STAT 314 for actuarial majors), ECON 251, 252, and junior standing.

Schedule Details

Location Time Day(s)
FINC 600 - 203 Financial Management See Details * *
Description of course Financial Management : CRN: 42948
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. -- Prerequisite: OPMT600, ACCT601, GBEC600

Schedule Details

Location Time Day(s)
SCH 3011730-213016 Sep '15
SCH 3011730-213007 Oct '15
SCH 3011730-213028 Oct '15
SCH 3011730-213018 Nov '15
SCH 3011730-213009 Dec '15
FINC 755 - 201 Global Finance Issues & Policy See Details * *
Description of course Global Finance Issues & Policy : CRN: 42955
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 4191730-213017 Sep '15
SCH 4191730-213008 Oct '15
SCH 4191730-213029 Oct '15
SCH 4191730-213019 Nov '15
SCH 4191730-213010 Dec '15
J-Term 2016 Courses
J-Term 2016 Courses
Crs - Sec Title Days Time Location
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
  • FMA-Financial Management Association, 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" European Financial Management Association, Rome, Italy, June 01, 2014
  • "Contagion of the Eurozone debt crisis" International Finance and Banking Society Conference, Lisbon, Portugal, 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
  • "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" Opus College of Business Research Seminar, University of St. Thomas, Minneapolis, MInnesota, 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
  • "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
  • "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
  • "Initial public offerings and the performance of investor types in Sri Lanka'" OCB Summer Research Seminar, January 01, 2008
  • "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
  • "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
  • "'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