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
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
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
Journal - Research Article
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.
Conference Contribution - Verbal presentation and other Conference outputs
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.
Conference Contribution - Verbal presentation and other Conference outputs
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
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
Journal - Research Article
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
Journal - Research Article
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.
Conference Contribution - Verbal presentation and other Conference outputs
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 - Published proceedings: Abstract
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.
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.
Conference Contribution - Verbal presentation and other Conference outputs
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
Journal - Research Article
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
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
Journal - Research Article
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
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
Conference Contribution - Published proceedings: Abstract
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
Journal - Research Article
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
Journal - Research Article
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: Full paper
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
Conference Contribution - Published proceedings: Abstract
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
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/
Conference Contribution - Published proceedings: Abstract
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.
Journal - Research Article
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
Journal - Research Article
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: Full paper
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
Conference Contribution - Published proceedings: Abstract
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.
Journal - Research Article
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.
Conference Contribution - Verbal presentation and other Conference outputs
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.
Journal - Research Article
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]
Conference Contribution - Published proceedings: 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
Conference Contribution - Published proceedings: Abstract
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]
Conference Contribution - Published proceedings: Abstract
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.
Journal - Research Article
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]
Conference Contribution - Published proceedings: Abstract
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.
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.
Journal - Research Article
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 - Published proceedings: Abstract
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.
Conference Contribution - Poster Presentation (not in published proceedings)
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.
Conference Contribution - Poster Presentation (not in published proceedings)
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]
Conference Contribution - Published proceedings: Abstract
Dias, G., Dennison, K. J., & Premachandra, I. M. (2002). A newly-discovered craniological non-metric trait. Antropologia Portuguesa, 19, 41-55.
Journal - Research Article
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]
Conference Contribution - Published proceedings: Abstract
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.
Journal - Research Article
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.
Journal - Research Article
Premachandra, I. M. (2001). An approximation of the activity duration distribution in PERT. Computers & Operations Research, 28(5), 443-452.
Journal - Research Article
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.
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.
Journal - Research Article
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.
Conference Contribution - Verbal presentation and other Conference outputs
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.
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.
Journal - Research Article
Premachandra, I. M., & Rajasingh, A. (1997). Production planning for chicken processing. OR Insight, 10(3), 27-32.
Journal - Research Article
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 - Published proceedings: Abstract
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.
Conference Contribution - Verbal presentation and other Conference outputs
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]
Conference Contribution - Published proceedings: 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]
Conference Contribution - Published proceedings: Full paper
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.
Journal - Research Article
Professor Emeritus