Dr Nirosha Hewa Wellalage

Nirosha Hewa Wellalage

Senior Lecturer in Finance
Undergraduate Convenor, Finance


Corporate Governance; Corporate Social Responsibility; Finance; Sustainability

Small Business ; Developing economies

Qualifications: BSC, University of Ireland; MBA, University of Keele, UK, PhD in Finance, University of Waikato

Contact Details

Email: [email protected]
Room: MSB.2.08
Phone: +64 7 838 4196

Papers Taught

About Nirosha

Dr Nirosha Wellalage has had several years of experience in the finance industry before moving to the University of Waikato.

Dr. Nirosha’s main research centres on issues related to corporate finance practices. Her main research goal as a researcher is to explore the ways marginalised firms, such as micro, small and medium firms (SMEs), firms owned by females and ethnic minorities, and refugees financing their firms and find ways to sustainable in long run while contributing the economic development.

Nirosha has published 18 refereed journal articles in last 5 years, including 14 in A ranked or FT 50-ranked journals (12 as lead author). Her research has been cited more than 677 times, according to Google Scholar. She has published in leading international journals including the Journal of Business Ethics, Small Business Economics, International Review of Financial Analysis, International Review of Economics and Finance, Journal of Evolutionary Economics, Finance Research Letters and Applied Economics.

The publications, research awards and research grants demonstrate her ability to develop and implement a viable and relevant research agenda. She has presented her research at major international finance conferences and has received several best papers awards. Dr. Nirosha awarded International Corporate Governance Network (ICGN) outstanding scholar award, Young Researcher Award- Baku World Science Forum, and Early Career Research Excellence Award from Modelling and Simulation Society of Australia and New Zealand (MSSANZ). Currently, she is a principal researcher for the two research grants from Accounting and Finance Association in Australia and New Zealand (AFAANZ). Also, she recently received a Lottery Community Sector Research grant with researchers from Canterbury University and Refugee Orientation Centre, New Zealand.  She also served as a reviewer for several refereed journals and conferences and PhD thesis examiner. She has held honorary visiting fellowships at the University of Wollongong, Australia and Kelaniya University, Sri Lanka

Dr. Nirosh has successfully supervised seven PhD candidates to completion and all of them have since secured academic positions in tertiary institutions. Nirosha is keen on supervising interesting empirical Ph.D. projects in finance. Supervision queries related broadly to the following research areas will be prioritised:

  • SMEs and family firms
  • Financial crimes, bribes, and corruption
  • Firm-level innovations and emerging markets
  • Financial inclusion of minority groups (SMEs, women, and refugees)
  • Firm-level CSR, sustainability, and access to financing

Research Supervised

Doctor of Philosophy

  1. Dilip Jha Kumar, PhD thesis- Improving Corporate Governance in Nepalese Financial institutions to Promote Growth and Performance -Passed 2017
  2. Francis Agyekum, PhD thesis A trajectory of financial inclusion towards economic inclusion; empirical evidence from Licsghana as a case- Passed 2017
  3. Samir Harith, PhD thesis – Full enrolment The Development of a Performance Evaluation Framework for Start-up Entrepreneurship Financing Initiatives- Passed 2018
  4. Yimei Man, PhD thesis – Full enrolment Agency cost and earning management in Chinese listed companies -Passed 2019
  5. Polypailin Kijasiwat, PhD thesis – Full enrolment Capital Structure and Financial Performance: Small and Medium Enterprises (SMEs) in Thailand -Passed 2019
  6. Mercy Kiremu, Phd thesis-Climate Finance Instruments and Kenyan Agriculture-Submitted 2019 (Ongoing)

I also regularly supervise Summer Research Scholarships.

Research Interests

Corporate Governance,

Small Business Finance

CSR and Sustainability

Emerging Markets

Recent Publications

  • Kijkasiwat, P., Hewa Wellalage, N., & Locke, S. (2021). The impact of symbiotic relations on the performance of micro, small and medium enterprises in a small-town context: The perspective of risk and return. Research in International Business and Finance, 56, 19 pages. doi:10.1016/j.ribaf.2021.101388

  • Hewa Wellalage, N., & Thrikawala, S. (2021). Bank credit, microfinance and female ownership: Are women more disadvantaged than men?. Finance Research Letters, online, 8 pages. doi:10.1016/

  • Agyekum, F., Reddy, K., Wallace, D., & Hewa Wellalage, N. (2021). Does technological inclusion promote financial inclusion among SMEs? Evidence from South-East Asian (SEA) countries. Global Finance Journal, online, 100618. doi:10.1016/j.gfj.2021.100618

  • Hewa Wellalage, N., Hunjra, A., Manita, R., & Locke, S. (2021). Information communication technology and financial inclusion of innovative entrepreneurs. Technological Forecasting and Social Change, 163, 13 pages. doi:10.1016/j.techfore.2020.120416

Find more research publications by Nirosha Hewa Wellalage