Tharindu Ediriwickrama

Tharindu Ediriwickrama
University of Colombo · Department of Finance

PhD (Colombo) MBA (India) BSc in Finance (special), University of Sri Jayewardenepura, Sri Lanka

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19
Publications
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Introduction

Publications

Publications (19)
Article
Full-text available
Sin stocks are expected to yield high returns and many scholars have tested whether sin stocks would generate positive significant premiums by employing various asset pricing models such as capital asset pricing model and its multi-factor versions. This study has employed the Fama -French five-factor asset pricing model to test two trading strategi...
Conference Paper
Full-text available
Financial literacy plays a crucial role in empowering individuals and promoting financial well-being in the cosmopolitan Era. This research paper introduces a comprehensive framework for assessing and measuring the level of financial literacy among Small and Medium Enterprises (SMEs) in Sri Lanka. Financial literacy is a fundamental skill set for m...
Conference Paper
Full-text available
This study investigates the impact of financial literacy on the performance of Small and Medium Enterprises (SMEs) in the cosmopolitan era. Globalization and interconnectedness create a more complex financial landscape. Financial literacy becomes even more crucial for navigating this complexity and making informed decisions about a wider range of f...
Conference Paper
Full-text available
Individuals' Investment decisions are influenced by various factors such as demographics, personal characteristics, market influences, and many more. Thus, rational investing is challenged by the evolution of behavioral finance. Risk tolerance is one of the main determinants of investors' market perception. Based on the level of risk tolerance, the...
Article
Full-text available
The findings are essential for individual stock investors and potential investors significantly; can be attentive to their peculiar cognitive and emotive factors in their accurate investment decisions. Among the 306 individual investors in the Colombo Stock Exchange (CSE) survey model was used. The events, beliefs, behavioral consequences, loss ave...
Article
Full-text available
Fama and French (2015) introduced a five-factor model to better explain the stock return variations. The model has been tested in many stock markets and contradicting findings have been reported. Nevertheless, the model has not been tested in Sri Lanka to predict the stock returns. Therefore, the present study attempts to test the validity of Fama...
Article
Full-text available
Liquidity and stock returns have become a popular research field in developed as well as developing economies. As a result, the current study's major aim is to investigate the impact of liquidity on traditional asset pricing models when assessing stock returns utilizing data from financial sector companies listed on the Colombo Stock Exchange (CSE)...
Article
Full-text available
The relationship between stock returns and exchange rates is a widely discussed topic among scholars across the world. However, there is no universal agreement in this regard and many researchers offer mixed evidence on the association of stock returns and exchange rates. This relationship can be twofold which are long run and short run. However, m...
Article
Full-text available
In the past literature, inconsistencies of the results were found in relation to the with regard to the impact on auditors’ report (AR) and earnings persistence (EP). Similarly, less literature was able to find which examined the significance of the relationship between each type of five main categories of AR on EP and there is a doubt whether the...
Article
Full-text available
Past literature shows inconsistent results when analyzing the impact on the external auditors' report (AR) and stock returns. Similarly, it was observed that there is less literature that examined the significance of the relationship between each type of five main categories of AR on stock returns. The purpose of this paper is to examine the stock...
Article
Full-text available
The complete diversification of idiosyncratic volatility is questionable due to factors such as market imperfections, investor irrationality and managerial decisions. Therefore, the purpose of this study is to investigate the impact of idiosyncratic volatility on average stock returns in the Sri Lankan context. Using the five-factor asset pricing m...
Article
Full-text available
The inconclusive inferences on empirical findings on idiosyncratic volatility have created a substantive puzzle in the asset pricing literature. The purpose of this study is to analyze the long debated idiosyncratic volatility puzzle from a South Asian market point of view. Using 214 non-financial firms listed on the Colombo Stock Exchange over a p...
Conference Paper
Full-text available
The conventional belief of asset pricing theories is that idiosyncratic volatility can be fully diversified, so that it is not required to take into account. However, in the case of holding insufficiently diversified portfolios by the investors, the idiosyncratic volatility of stocks plays a vital role in asset pricing decisions. Using the five-fac...
Article
Full-text available
The main channel of information dissemination for initial public offerings (IPO) in the pre-listing stage is the prospectus. Auditor fee and director emoluments are two types of information that investors know about in advance through the prospectus. Industry and media publicity are also in the focus of investors in the pre IPO stage. This study in...
Article
Full-text available
IPO long run underperformance is a widely debated anomaly in corporate finance literature. Present study inquires whether above anomaly exists even after pricing for well known risk factors constructed based on size as well as illiquidity. This study proposed a new illiquidity based four factor asset pricing model and tested it using Sri Lankan ini...

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