Colombage Sisira extended research

Position:Discipline Head,
Accounting & Finance, Economics and Law

Associate Professor,
Building 901,
Level 2
Phone: 5122 6644


Supervision interests

His current research interests include corporate finance, corporate governance, banking, capital markets, sustainable financing and financial technology (FinTec).



Sisira Colombage (co-authored with Anura Amarasena), 2017 “Exporting in The Asian Century: The dynamics of success”, Sid Harta Publications, Australia. ISBN:978-1-921030-85-7

Book chapters

Sisira Colombage (co-authored with Jayawardena, A.,) 2020,  “Does Blockchain Technology Drive Sustainability? An exploratory review”, Governance and Sustainability, Emerald Publications, UK

Journal articles

Colombage, S., Nanayakkara, M., 2020, “Impact of credit quality on credit spread of Green Bonds: A global evidence” Review of Development Finance” (forthcoming)

Xiaohua Sun, Runqun Yu, Yun Wang, Sisira RN Colombage, 2020, ‘Do government subsidies stimulate firms’ R&D efforts? Empirical evidence from China”, Asian Journal of Technology Innovation, pp 1-18.

Yun Wang, Yu Zhai, Xiaohua Sun, Sisira RN Colombage, 2020," To what extent do earnings affect the R&D decision of Chinese manufacturing firms?” Technology Analysis & Strategic Management,Vol 32,  pp.349-362.

Zhichong Zhao, Sisira Colombage, Guotai Chi, 2019, ‘Key Variables and Characteristics of Loan Loss Given Default: Empirical Evidence from 28 Provinces in China”, Emerging Markets Finance and Trade, Vol.56 (11), pp 2443-2460.

Nanayakkara, M., Colombage, S., 2019, “Do investors in Green Bond market pay a premium? Global evidence, Applied Economics, Vol 51 (40), pp. 4425-4437.

Shahzad, F; Rehman, I; Colombage, S.; Nawaz, F., 2019, “Financial Reporting Quality, Family Ownership, and Investment Efficiency: An Empirical Investigation", Managerial Finance”, Vol. 45(4), pp. 513-535.

Baker, H., Kumar, S., Colombage, S., Singh, H., 2017, "Working Capital Management Practices in India: Survey Evidence", Managerial Finance, Vol 43 (3), pp 331-353.

Kumar, S, Colombage, S., 2017, Research on Capital Structure Determinants: a review and future directions, International Journal of Managerial Finance, Vol 13 (2), pp. 106-132.

Kumar, S. and Colombage S., 2017, "Working Capital Management and Firm Profitability: A Meta-Analysis" Qualitative Research in Financial Markets, Vol. 17 (9), pp. 34-47.

Fonseka M.M., Xing Y., Gao-Liang T. and Sisira R. N. Colombage, 2015, Political connections, ownership structure and private-equity placement decision: evidence from Chinese listed firms, Applied EconomicsVol 47 (52), pp. 5648-5666.

Colombage S. R.N., Maslyuk, S., Taha, R., 2015, Stock market and tax revenue as determinants of economic growth: Panel data evidence from Developing Asia, Journal of Developing Areas, Vol 49 (4), PP. 1-19.

Fonseka, M.M., Colombage, Sisira R.N., Tian, Gao-Liang, 2014, Effects of Regulator's Announcements, Information Asymmetry and Ownership Changes on Private Equity Placements: Evidence from China,International Financial Markets Institutions and Money, Vol 29, pp. 126-149.

Ovi, N., Perera, S., Colombage, S.,2014,Market power, credit risk, revenue diversification and bank stability in selected ASEAN countries", South East Asia Research, Vol 22, pp. 399-416.

Colombage, S., Gunasekarage. A. & Shams, S.M., 2013, Target organisational form and returns to Australian bidders in cross-border acquisitions, Accounting and Finance, Vol 54, pp. 1063-1096.

Shams, S.M, Gunasekarage. A. & Colombage, S., 2013, Does the organisational form of the target influence the market reaction to acquisition announcements? Australian evidence, Pacific-Basin Finance Journal, Vol. 24, pp 89-108.

Roshaiza Taha, Sisira R.N. Colombage, Svetlana Maslyuk, Loganathan, Nanthakumar, 2013, Does Financial System Activity Affect Tax Revenue In Malaysia? Bounds Testing And Causality Approach,Journal of Asian Economics, Vol 24, pp 147-157.

Colombage S.R.N. and Abdel Halabi, 2011, Asymmetry of Information and the Finance-Growth Nexus in Emerging Markets-Empirical Evidence using Panel VECM Analysis, Journal of Developing Areas, Vol 46, No 1, pp 133-146.

Nicholas Boone, Sisira Colombage, Abeyratna Gunasekarage, 2011, Block shareholder identity and firm performance in New Zealand, Pacific Accounting Review, Vol 23(2), pp.185 – 210.

Roshaiza Taha, Sisira R.N. Colombage, Svetlana Maslyuk, 2011, The Financial System and Revenue Collection in Malaysia: An Empirical Analysis, Empirical Economics Letters, No 11, Vol 9, pp.1027-1032.

Roshaiza Taha, Nanthakumar Loganathan, Sisira R. N Colombage, 2011, The Effect of Taxation on Economic Growth; the Case of a Newly Industrialized Country, International Review of Business Research Papers, Vol 7, pp. 319-329.

Amarasena, A., and Colombage, Sisira R.N., 2010, An Emerging Asian Niche Market for Export,"Thunderbird International Business Review, Vol 52 (6), pp. 525-539.

Colombage, Sisira, R.N., 2009, Financial markets and economic performances: Empirical evidence from five industrialized economies, Research in International Business and Finance, Vol 23, pp. 339-348.

Colombage, Sisira, R.N., 2007, Consistency and controversy in corporate financing practices: evidence from an emerging market, Studies in Economic and Finance, Vol 24 No 1, pp. 51-71.

Colombage, Sisira R.N., 2005, Sectoral Analysis of Corporate Capital Structure Choice – Emerging Market Evidence from Sri Lanka, Journal of Asia-Pacific Business, Vol. 6 (3), pp. 5-35.

Awards and grants

  • FinTechs: Friends or Foes? Perspectives of Australian accountants and financial advisers, 2020, AFAANZ ($5000)
  • Cash Flow Forecast – Broadening Horizons Project for Secondary Schools, 2019, La Trobe Authority, ($33,000)
  • Research on Theory and Method of Microscopic Credit Evaluation in Big Data Environment, 2017. National Natural Science Foundation of China (CNY 2,600,000)
  • Earnings management and long term return performance of Australian Convertible Debt Issues, 2010. Granted by Monash University, Gippsland Campus ($9,945)
  • Cash flow research study, 2008. Loy Yang Power ($33,657)
  • Investments in Real Estate, 2008. School of Business and Economics, Gippsland ($5,652)