Professor I M Premachandra, Our staff, Department of Accountancy & Finance

Professor Emeritus
BSc (Kel'ya) MSc (C'bo) MEng DSc (Tokyo)

With a strong management science and statistical background, Inguruwatt became a leader in creating a cross-disciplinary platform where the research interests of scholars in management science, finance, anatomy, and human nutrition are integrated. He has earned an international reputation for his work in applying the management science and econometric techniques in finance research. His recent research documents a novel market efficiency test for commodity futures and a new principal component factor model, making a significant contribution to the literature. His international research collaborations include researchers from the USA, Japan, Australia, and Sri Lanka. Nationally, he has actively engaged with researchers in the departments of Anatomy and Human Nutrition at Otago. He has undertaken several consultancy projects, which include the Clyde Dam project. During the author's academic career of 26 years, he has served as a visiting professor at leading academic institutions in Japan and the USA.

Research interests

Empirical finance and Financial Modelling
Performance evaluation using DEA (Data Envelopment Analysis) and its applications in Finance
Applied Probability theory
Simulation
Application of operations research techniques in Finance

Curriculum vitae

Download CV (PDF 181 k)

Publications

Tulloch, D. J., Diaz-Rainey, I., & Premachandra, I. M. (2020). Modelling sector-level asset prices. Journal of Risk & Financial Management, 13(6), 120. doi: 10.3390/jrfm13060120 Journal - Research Article

Kuruppuarachchi, D., Premachandra, I. M., & Roberts, H. (2019). A novel market efficiency index for energy futures and their term structure risk premiums. Energy Economics, 77, 23-33. doi: 10.1016/j.eneco.2018.09.010 Journal - Research Article

Kuruppuarachchi, D., Lin, H., & Premachandra, I. (2019). Testing commodity futures market efficiency under time-varying risk premiums and heteroscedastic prices. Economic Modelling, 77, 92-112. doi: 10.1016/j.econmod.2017.12.005 Journal - Research Article

Tulloch, D. J., Diaz-Rainey, I., & Premachandra, I. M. (2018). Modelling sector-level asset prices. Proceedings of the 8th Annual New Zealand Finance Meeting (NZFM). Auckland, New Zealand: Auckland Centre for Financial Research. Retrieved from https://acfr.aut.ac.nz Conference Contribution - Published proceedings: Full paper

Tulloch, D. J., Diaz-Rainey, I., & Premachandra, I. M. (2018). The impact of regulatory change on EU energy utility returns: The three liberalization packages. Applied Economics, 50(9), 957-972. doi: 10.1080/00036846.2017.1346366 Journal - Research Article

2020

Journal - Research Article

Tulloch, D. J., Diaz-Rainey, I., & Premachandra, I. M. (2020). Modelling sector-level asset prices. Journal of Risk & Financial Management, 13(6), 120. doi: 10.3390/jrfm13060120

2019

Journal - Research Article

2018

Journal - Research Article

Conference Contribution - Published proceedings: Full paper

2017

Journal - Research Article

Tulloch, D. J., Diaz-Rainey, I., & Premachandra, I. M. (2017). The impact of liberalization and environmental policy on the financial returns of European energy utilities. Energy Journal, 38(2), 77-106. doi: 10.5547/01956574.38.2.dtul

Conference Contribution - Verbal presentation and other Conference outputs

Premachandra, I. (2017, November). A market efficiency index for energy futures based on the term structure. Verbal presentation at the 3rd Applied Financial Modelling Conference, Kampar, Malaysia.

Premachandra, I. M. (2017, June). Testing commodity futures market efficiency under time-varying risk premiums and heteroscedastic prices. Verbal presentation at the 8th RMUTP International Conference on Science, Technology, and Innovations for Sustainable Development, Bangkok, Thailand.

2016

Chapter in Book - Other

Premachandra, I. M., Zhu, J., Watson, J., & Galagedera, D. U. A. (2016). Mutual fund industry performance: A network data envelopment analysis approach. In J. Zhu (Ed.), Data envelope analysis: A handbook of empirical studies and applications. (pp. 165-228). New York: Springer. doi: 10.1007/978-1-4899-7684-0_7

Journal - Research Article

Kuruppuarachchi, D., & Premachandra, I. M. (2016). Information spillover dynamics of the energy futures market sector: A novel common factor approach. Energy Economics, 57, 277-294. doi: 10.1016/j.eneco.2016.05.015

Srivastava, S., Lin, H., Premachandra, I. M., & Roberts, H. (2016). Global risk spillover and the predictability of sovereign CDS spread: International evidence. International Review of Economics & Finance, 41, 371-390. doi: 10.1016/j.iref.2015.10.047

Galagedera, D. U. A., Watson, J., Premachandra, I. M., & Chen, Y. (2016). Modeling leakage in two-stage DEA models: An application to US mutual fund families. Omega, 61, 62-77. doi: 10.1016/j.omega.2015.07.007

2015

Conference Contribution - Verbal presentation and other Conference outputs

Kuruppuarachchi, D., & Premachandra, I. M. (2015, December). Information spillover dynamics of the energy futures market sector: A novel common factor approach. Verbal presentation at the World Finance & Banking Symposium, Hanoi, Vietnam.

2014

Conference Contribution - Published proceedings: Abstract

Tulloch, D. J., Diaz-Rainey, I., & Premachandra, I. M. (2014). The impact of liberalization and environmental policy on financial risk-return profiles of European energy utilities. Proceedings of the Otago Energy Research Centre (OERC) Symposium. (pp. 13). Retrieved from http://www.otago.ac.nz/oerc/

Conference Contribution - Verbal presentation and other Conference outputs

Kuruppuarachchi, D., Hai, L., & Premachandra, I. M. (2014, July). Investigating the efficiency of commodity futures: A novel efficiency index. Verbal presentation at the World Finance Conference, Venice, Italy.

2013

Conference Contribution - Verbal presentation and other Conference outputs

Lin, H., Premachandra, I., Roberts, H., & Srivastava, S. (2013, July). Global risk spillover and the predictability of sovereign credit default swap spread: International evidence. Verbal presentation at the Global Financial Stability and Prosperity Conference: Systemic Risk: Liquidity Risk, Governance and Financial Stability, Sydney, Australia.

2012

Journal - Research Article

Premachandra, I. M., Zhu, J., Watson, J., & Galagedera, D. U. A. (2012). Best-performing US mutual fund families from 1993 to 2008: Evidence from a novel two-stage DEA model for efficiency decomposition. Journal of Banking & Finance, 36(12), 3302-3317. doi: 10.1016/j.jbankfin.2012.07.018

2011

Journal - Research Article

Watson, J., Wickramanayke, J., & Premachandra, I. M. (2011). The value of Morningstar ratings: Evidence using stochastic data envelopment analysis. Managerial Finance, 37(2), 94-116. doi: 10.1108/03074351111103659

Premachandra, I. M., Chen, Y., & Watson, J. (2011). DEA as a tool for predicting corporate failure and success: A case of bankruptcy assessment. Omega, 39(6), 620-626. doi: 10.1016/j.omega.2011.01.002

Conference Contribution - Published proceedings: Abstract

Blyth, P., Baillie, L. J., Premachandra, I. M., & Dias, G. J. (2011). Sources of error in facial soft tissue depths. Clinical Anatomy. 24(3), (pp. 402-403). doi: 10.1002/ca.21157

Baillie, L. J., Blyth, P., Premachandra, I. M., & Dias, G. J. (2011). Virtual digital measurement of facial soft tissue and bone from living subjects. Clinical Anatomy. 24(3), (pp. 407). doi: 10.1002/ca.21157

2010

Journal - Research Article

Alexander, D. R., Premachandra, I. M., & Kimura, T. (2010). Transient and asymptotic behavior of synchronization processes in assembly-like queues. Annals of Operations Research, 181, 641-659. doi: 10.1007/s10479-010-0796-9

Oskam, C. L., Premachandra, I. M., & Dias, G. J. (2010). Bizygomatic breadth determination in damaged skulls. International Journal of Osteoarchaeology, 20(5), 540-548. doi: 10.1002/oa.1087

Conference Contribution - Published proceedings: Full paper

Whigham, P. A., Withanawasam, R., Crack, T., & Premachandra, I. M. (2010). Evolving trading strategies for a limit-order book generator. Proceedings of the IEEE Congress on Evolutionary Computation (CEC). (pp. 2467-2474). doi: 10.1109/CEC.2010.5586114

Conference Contribution - Published proceedings: Abstract

Withanawasam, R., Whigham, P. A., Crack, T. F., & Premachandra, I. M. (2010). Characterizing abnormal behaviors in stock markets. Proceedings of the Information Science Postgraduate Day. (pp. 31-32). Retrieved from http://infosci.otago.ac.nz/information-science-postgrad-day-2010/

Baillie, L., Blyth, P., Premachandra, I., & Dias, G. (2010). Virtual digital measurement of facial soft tissue and bone from living subjects. New Zealand Medical Journal, 123(1327). Retrieved from http://journal.nzma.org.nz/journal/123-1327/4493/content.pdf

Sologar, K., Premachandra, I., Swindells, S., Soal, S., & Dias, G. J. (2010). Forensic facial approximation of a wrapped pre-ptolomaic Egyptian mummy using neural network predicted facial soft tissue depths. Clinical Anatomy. 23, (pp. 343-344). doi: 10.1002/ca.20954

Working Paper; Discussion Paper; Technical Report

Withanawasam, R. M., Whigham, P. A., Crack, T., & Premachandra, I. M. (2010). An empirical investigation of the Maslov limit order market model [Information Science Discussion Paper: No. 2010/04]. Dunedin, New Zealand: Department of Information Science, University of Otago. 49p.

2009

Journal - Research Article

Cao, X., Premachandra, I. M., Bhabra, G. S., & Tang, Y. P. (2009). Firm size and the pre-holiday effect in New Zealand. International Research Journal of Finance & Economics, 32, 171-187.

Premachandra, I. M., Bhabra, G. S., & Sueyoshi, T. (2009). DEA as a tool for bankruptcy assessment: A comparative study with logistic regression technique. European Journal of Operational Research, 193(2), 412-424. doi: 10.1016/j.ejor.2007.11.036

Conference Contribution - Published proceedings: Full paper

Alexander, D. R., Premachandra, I. M., & Kimura, T. (2009). Transient and asymptotic analysis of synchronization processes in assembly-like queues. In S. I. Ao, O. Castillo, C. Douglas, D. D. Feng & J.-A. Lee (Eds.), Proceedings of the International MultiConference of Engineers and Computer Scientists (IMECS) (Vol 2). (pp. 1977-1981). Newswood. [Full Paper]

Conference Contribution - Published proceedings: Abstract

Oskam, C. L., Codinha, S. C. F., Premachandra, I. M., & Dias, G. J. (2009). Bizygomatic breadth determination in skulls with damaged zygomatic arches. Homo. 60(3), (pp. 253-254). doi: 10.1016/j.jchb.2009.02.025

2008

Journal - Research Article

Campbell, A., Premachandra, I. M., Bhabra, G. S., Tang, Y. P., & Watson, J. (2008). GDP, share prices, and share returns: Australian and New Zealand evidence. Journal of Money, Investment & Banking, 5, 28-56.

2007

Conference Contribution - Verbal presentation and other Conference outputs

Oskam, C. L., Codinha, S. C. F., Premachandra, I. M., & Dias, G. J. (2007, December). Bizygomatic breadth determination in skulls with damaged zygomatic arches. Verbal presentation at the Australasian Society for Human Biology Annual Conference, Dunedin, New Zealand.

2006

Journal - Research Article

Ferguson, E. L., Darmon, N., Fahmida, U., Fitriyanti, S., Harper, T. B., & Premachandra, I. M. (2006). Design of optimal food-based complementary feeding recommendations and identification of key ″problem nutrients″ using goal programming. Journal of Nutrition, 136, 2399-2404.

Conference Contribution - Published proceedings: Abstract

Ferguson, E. L., Fahmida, U., Fitriyanti, S., Harper, T. B., Darmon, N., & Premachandra, I. M. (2006). A rigorous approach to design optimal complementary feeding recommendations for young children in developing countries. In Y. Kalambaheti & S. Charoenkiatkul (Eds.), Proceedings of the Bioavailability Conference. (pp. 69). Chiang Mai, Thailand: Mahidol University. [Abstract]

Oskam, C., Codinha, S., Premachandra, I., & Dias, G. (2006). Forensic facial reconstruction on damaged skulls. New Zealand Medical Journal, 119(1245). Retrieved from http://journal.nzma.org.nz/journal/119-1245/2331/content.pdf

Premachandra, I. M., Alexander, D. R., & Galagedera, D. U. A. (2006). Modeling a queueing system with transacting populations. Proceedings of the International MultiConference of Engineers and Computer Scientists. (pp. 766-768). Kwun Tong, Hong Kong: Newswood. [Abstract]

2005

Journal - Research Article

Dias, G. J., Premachandra, I. M., Mahoney, P. M., & Kieser, J. A. (2005). A new approach to improve TMJ morphological information from plain film radiographs. CRANIO, 23(1), 30-38.

Conference Contribution - Published proceedings: Abstract

Premachandra, I. M., Bhabra, G. S., & Buchanan, R. (2005). Predicting corporate bankruptcy. Proceedings of the 17th Triennial Conference of the International Federation of Operational Research Societies. (pp. 42). Hawaii: INFORMS. [Abstract]

2004

Journal - Research Article

Premachandra, I. M. (2004). A diffusion approximation model for managing cash in firms: An alternative approach to the Miller-Orr model. European Journal of Operational Research, 157, 218-226.

Ferguson, E. L., Darmon, N., Briend, A., & Premachandra, I. M. (2004). Food-based dietary guidelines can be developed and tested using linear programming analysis. Journal of Nutrition, 134(4), 951-957.

Conference Contribution - Published proceedings: Abstract

Rigby, P., Ferguson, E., Chisholm, A., Fleming, L., Premachandra, I., Blakey, C., & Darmon, N. (2004). A computerised-assisted tool to improve toddlers' diets. Proceedings of the New Zealand Dietetic Association Conference. 9, (pp. 38-39). [Abstract]

Conference Contribution - Poster Presentation (not in published proceedings)

Bhabra, G. S., Buchanan, R., & Premachandra, I. M. (2004, July). Predicting corporate bankruptcy: Data envelopment analysis as an alternative to logistic regression technique. Poster session presented at the Accounting & Finance Association of Australia and New Zealand Annual Conference, Alice Springs, Northern Territory.

Dias, G., Dennison, K. J., & Premachandra, I. M. (2004, October). The previously unrecognized posterior deep temporal nerve groove on the cranial base. Poster session presented at the Australian and New Zealand Association of Clinical Anatomists, Melbourne, Australia.

2003

Conference Contribution - Published proceedings: Abstract

Premachandra, I. M. (2003). A diffusion approximation model for managing cash in firms. Proceedings of the 5th International Congress on Industrial and Applied Mathematics. [Abstract]

2002

Journal - Research Article

Dias, G., Dennison, K. J., & Premachandra, I. M. (2002). A newly-discovered craniological non-metric trait. Antropologia Portuguesa, 19, 41-55.

Conference Contribution - Published proceedings: Abstract

Dias, G., Dennison, K. J., & Premachandra, I. M. (2002). The previously unrecognized posterior deep temporal nerve groove on the cranial base. Proceedings of 14th European Meeting of the Paleopathology Association. (pp. 52). Coimbra, Portugal: Paleopathology Association. [Abstract]

2001

Journal - Research Article

Dias, G., Dennison, K. J., & Premachandra, I. M. (2001). The previously unrecognized posterior deep temporal nerve groove on the cranial base. International Journal of Osteoarchaeology, 11, 241-248.

Premachandra, I. M. (2001). A note on DEA vs principal component analysis: An improvement to Joe Zhu's approach. European Journal of Operational Research, 132(3), 553-560.

Premachandra, I. M. (2001). Controlling factor weights in data envelopment analysis by incorporating decision maker's value judgement: An approach based on AHP. Journal of Information & Management Science, 12(2), 1-12.

Premachandra, I. M. (2001). An approximation of the activity duration distribution in PERT. Computers & Operations Research, 28(5), 443-452.

2000

Journal - Research Article

Premachandra, I. M., Powell, J. G., & Watson, J. (2000). A simulation approach for stochastic data envelopment analysis. International Journal of Information & Management Sciences, 11(1), 11-31.

Conference Contribution - Verbal presentation and other Conference outputs

Bhabra, G. S., Premachandra, I. M., & Hoult, R. (2000, July). Predicting management buyouts using Data Envelopment Analysis. Verbal presentation at the 5th Conference of the Association of Asian-Pacific Operations Research Societies, Singapore.

1999

Authored Book - Other

Premachandra, I. M. (1999). A Simplified Guide to Excel. Sri Lanka: Postgraduate Institute of Management, 184p.

1998

Authored Book - Research

Dias, G., Premachandra, I. M., & Kieser, J. A. (1998). Neural network model for increasing the accuracy of temporomandibular joint radiographic measurements. Dunedin: Dept. of Finance and Quantitative Analysis, University of Otago, 24p.

Journal - Research Article

Premachandra, I. M., Powell, J. G., & Shi, J. (1998). Measuring the relative efficiency of fund management strategies in New Zealand using spreadsheet based stochastic data envelopment analysis model. Omega, 26(2), 319-331.

Powell, J. G., & Premachandra, I. M. (1998). Accommodating diverse institutional investment objectives and constraints using non-linear goal programming. European Journal of Operational Research, 105(3), 447-456.

1997

Journal - Research Article

Premachandra, I. M., & Rajasingh, A. (1997). Production planning for chicken processing. OR Insight, 10(3), 27-32.

Conference Contribution - Published proceedings: Abstract

Powell, J. G., Premachandra, I. M., & Shi, J. (1997). Portfolio management using a spreadsheet based stochastic data envelopment analysis model. Association of Asian-Pacific Operational Research Societies. [Abstract]

Conference Contribution - Verbal presentation and other Conference outputs

Premachandra, I. M. (1997, November). Portfolio management using a spreadsheet based stochastic DEA. Verbal presentation at the Association of Asian-Pacific Operational Research Societies Conference, Melbourne.

1996

Conference Contribution - Published proceedings: Full paper

Powell, J. G., & Premachandra, I. M. (1996). Accommodating conflicting institutional investment objectives using goal programming. In V. Grey & V. Llanes (Eds.), Compedative advantage through Networks: Conference Procedings, Academy of International Business South-east Asia Regional Conference. Dunedin: Executive Education Programme, University of Otago. [Full Paper]

Premachandra, I. M., & Stent, A. F. (1996). A linear programming model for fleet management. Proceedings of the Pan-Pacific Conference XIII. (pp. 139-140). Chiba, Japan: Pan Pacific Business Association. [Full Paper]

1995

Journal - Research Article

Premachandra, I. M., & Gonzalez, M. L. (1995). A simulation model solved the scheduling problem of drilling rigs at Clyde Dam. Interfaces, 26(2), 80-91.