Niro Wellalage

APrf Niro Wellalage

Associate Professor of Finance

School of Accounting and Finance

College of Business and Law

Eligible to supervise Masters and PhD - email supervisor to discuss availability.

Available For Media Comment.

Dr Nirosha (Niro) Wellalage is an accomplished Associate Professor at UniSA Business, having joined the University of South Australia in 2023. Prior to this, she held academic appointments at the University of Waikato in Hamilton, New Zealand.
Dr Niro is a leading scholar in corporate finance with a focus on inclusive and sustainable financial practices. Her research investigates how marginalised and under-resourced firms—including micro, small and medium enterprises (MSMEs), businesses owned by women, ethnic minorities, and refugees—access and utilise finance to achieve long-term sustainability and contribute to economic development.
She is ranked among the top 5% of female economists globally (based on the last 10 years of publications) by RePEc, the world’s largest bibliographic database in economics. Her work has been cited over 2,500 times on Google Scholar, and she has published in high-impact journals such as Journal of Business Ethics, Small Business Economics, International Review of Financial Analysis, Finance Research Letters, and Business Strategy and the Environment.
Dr Nirosha’s research has been recognised internationally, earning her prestigious awards including the International Corporate Governance Network (ICGN) Outstanding Scholar Award, the Young Researcher Award from the Baku World Science Forum, and the Early Career Research Excellence Award from the Modelling and Simulation Society of Australia and New Zealand (MSSANZ).
She is currently the principal researcher on three grants funded by the Accounting and Finance Association of Australia and New Zealand (AFAANZ) and is also a co-investigator on a Lottery Community Sector Research grant in partnership with the University of Canterbury and the Refugee Orientation Centre (NZ).
In addition to her research leadership, Dr Niro is actively engaged in postgraduate supervision, having examined several Master’s and PhD theses. She serves as Associate Editor for the Australasian Accounting, Business and Finance Journal, and is a regular reviewer for top-tier international journals. Her academic network includes honorary fellowships at the University of Wollongong (Australia) and the University of Kelaniya (Sri Lanka).
Dr Nirosha is passionate about research that drives social impact and financial inclusion—and is always open to collaborative opportunities in research, teaching, and academic leadership.

RECENT GRANTS

2021-Ongoing:  Lottery Community Sector Research;  Project Title: Economic integration of refugees

Co-researchers-Dr R. Helen Samujh, Refugee Orientation Centre Trust, New Zealand, Dr. Herb De Varies, University of Canterbury and Dr.Nadeera Ranbahu, University of Canterbury, New Zealand

2021-2022:  Accounting and Finance Association in Australia and New Zealand (AFAANZ); Project Title: “Building wellbeing via financial empowerment: The case of Māori youth in Aotearoa/New Zealand”

Co-researchers-Dr Vijay Kumar, University of Waikato, New Zealand

2019-2020: Accounting and Finance Association in Australia and New Zealand (AFAANZ); Project Title: The Indigenous model of business sustainability: Learning from Indigenous Knowledge

Co-researcher - Dr. Anura De Zoysa, The University of Wollongong, Australia

2018-2019: Waikato Management School Research Trust Contestable Fund Project Title: Does ICT reduce the gender gap in financial inclusion?

Co-researcher - Dr. Gazi Hassan , The University of Waikato, New Zealand

2018-2019: Waikato University Summer Research Project; Project Title: Impact of ICT on financial inclusion for women refugees

2018-2019: Waikato University Summer Research Project; Project Title: Financial services and products suitable for refugees

AWARDS

2019: Early Career Research Excellence Award

                Modelling and Simulation Society of Australia and New Zealand

2018: Publication Award- Waikato Management School

2014: Young Researcher Award- Baku World Science Forum

                 Baku World Sciences Forum 2014 for Young Researchers (Economics and Social science stream)

2012: Alastair Ross Goobey Memorial (ARG) Scholarship

                 The Alastair Ross Goobey Memorial Scholarship aims to provide the financial assistance necessary to encourage and develop the emergent corporate governance leaders of the future.

2012: International Corporate Governance Network (ICGN) Outstanding Scholar Award    

Year Citation
2025 Wellalage, N., Wallace, D., & Reddy, K. (2025). Access to finance: the role of production level technology. Finance Research Letters, 71(106460), 1-8.
DOI Scopus2 WoS1
2025 Hunjra, A. I., Azam, M., Wellalage, N. H., & Mishra, T. (2025). Inflation bites: The dynamic interdependence between financial market volatility and energy consumption during pandemic. International Review of Economics and Finance, 104, 29 pages.
DOI
2025 Reddy, K., Wallace, D., & Wellalage, N. H. (2025). The impact of financial literacy on financial inclusion. Australian Journal of Management, 5(528), 1-28.
DOI Scopus3 WoS3
2025 Benjamin, S. J., Wellalage, N., Biswas, P. K., & Wasiuzzaman, S. (2025). Do negative social media sentiments affect firm risk?. Accounting Research Journal, 38(2), 190-207.
DOI Scopus2 WoS2
2025 Islam, T., Arunachalum, M., Wellalage, N., & Benjamin, S. (2025). Corporate environmental performance leading financial performance: impacts of social media sentiment and corporate reputation. Business Strategy And The Environment, 34(4), 4274-4290.
DOI Scopus8 WoS7
2025 Rasool, N., Arunachalam, M., Wellalage, N. H., & Kumar, V. (2025). Unveiling the relationship between ESG and growth of unlisted firms: empirical insights from Eastern Europe and Central Asia. Business Strategy And The Environment, 34(5), 5669-5686.
DOI Scopus2 WoS3
2025 Cingillioglu, I., & Wellalage, N. (2025). The digital tightrope: balancing value and ethics in hotel transformation. Journal of Hospitality and Tourism Technology, 21 pages.
DOI
2024 Kijkasiwat, P., Cave, J., Wellalage, N. H., & Locke, S. (2024). Forecasting symbiosis in tourism enterprise networks: Monte Carlo simulation of risk and return. International Journal of Services, Economics and Management, 15(1), 63-83.
DOI Scopus1
2024 Zhang, D., Wellalage, N., & Fernandez, V. (2024). Temporary employment and financial distress in times of crisis. Journal of Risk Finance, 25(4), 602-628.
DOI Scopus4 WoS4
2023 Reddy, K., & Wellalage, N. H. (2023). Effects of family ownership and family management on the performance of entrepreneurial firms. Research in International Business and Finance, 65(101977), 1-14.
DOI Scopus12 WoS12
2023 Wellalage, N. H., Zoysa, A. D., & Ma, S. (2023). Corporate cash holdings and firm performance in India: an empirical investigation of the effects of audit quality and firm growth. American Business Review, 26(1), 122-147.
DOI Scopus6
2023 Wellalage, N., Reddy, K., & Wallace, D. (2023). Environmental performance and the role of government support: evidence from the recent COVID-19 pandemic. Finance Research Letters, 58(104318), 1-11.
DOI Scopus4 WoS4
2023 Wellalage, N. H., Fernandez, V., & Bui, T. Q. T. (2023). Immigration and entrepreneurship: is there a uniform relationship across countries?. International Review of Economics and Finance, 85, 270-285.
DOI Scopus11 WoS10
2022 Wellalage, N. H., Kumar, V., Hunjra, A. I., & Al Faryan, M. A. S. (2022). Environmental performance and firm financing during COVID-19 outbreaks: evidence from SMEs. Finance Research Letters, 47(102568), 1-8.
DOI Scopus67 WoS55
2022 Zhang, D., Wellalage, N. H., & Fernandez, V. (2022). Environmental assurance, gender, and access to finance: evidence from SMEs. International Review of Financial Analysis, 83(102326), 1-14.
DOI Scopus21 WoS20
2022 Zhang, D., & Wellalage, N. H. (2022). Comparative analysis of environmental performance measures and their impact on firms' financing choices. Journal of Cleaner Production, 375(134176), 1-11.
DOI Scopus19 WoS15
2022 Agyekum, F. K., Reddy, K., Wallace, D., & Wellalage, N. H. (2022). Does technological inclusion promote financial inclusion among SMEs? Evidence from South-East Asian (SEA) countries. Global Finance Journal, 53(1000618), 1-15.
DOI Scopus33 WoS30
2022 Wellalage, N. H., Boubaker, S., Hunjra, A. I., & Verhoeven, P. (2022). The gender gap in access to finance: evidence from the COVID-19 pandemic. Finance Research Letters, 46(102329), 1-9.
DOI Scopus42 WoS30
2022 Wellalage, N. H., Thrikawala, S., & Ghardallou, W. (2022). Political connections, family ownership and access to bank credit. Finance Research Letters, 50(103347), 1-8.
DOI Scopus10 WoS10
2022 Benjamin, S. J., Biswas, P. K., Wellalage, N. H., & Man, Y. (2022). Environmental disclosure and its relation to waste performance. Meditari Accountancy Research, 31(6), 1545-1577.
DOI Scopus21 WoS19
2021 Wellalage, N., & Thrikawala, S. (2021). Does bribery sand or grease the wheels of firm level innovation: evidence from Latin American countries. Journal of Evolutionary Economics, 31(3), 891-929.
DOI Scopus21 WoS17
2021 Wellalage, N. H., & Kumar, V. (2021). Environmental performance and bank lending: evidence from unlisted firms. Business Strategy and the Environment, 30(7), 3309-3329.
DOI Scopus71 WoS66
2021 Wellalage, N. H., Hunjra, A. I., Manita, R., & Locke, S. M. (2021). Information communication technology and financial inclusion of innovative entrepreneurs. Technological Forecasting and Social Change, 163(120416), 1-13.
DOI Scopus62 WoS45
2021 Kijkasiwat, P., Wellalage, N. H., & 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(101388), 1-19.
DOI Scopus15 WoS12
2021 Wellalage, N. H., & Thrikawala, S. (2021). Bank credit, microfinance and female ownership: are women more disadvantaged than men?. Finance Research Letters, 42(101929), 1-8.
DOI Scopus39 WoS29
2020 Wellalage, N. H., & Locke, S. (2020). Remittance and financial inclusion in refugee migrants: inverse probability of treatment weighting using the propensity score. Applied Economics, 52(9), 929-950.
DOI Scopus9 WoS10
2020 Benjamin, S. J., Regasa, D. G., Wellalage, N. H., & Marathamuthu, M. S. M. (2020). Waste disclosure and corporate cash holdings. Applied Economics, 52(49), 5399-5412.
DOI Scopus25 WoS25
2020 Hewa Wellalage, N., Locke, S., & Samujh, H. (2020). Firm bribery and credit access: evidence from Indian SMEs. Small Business Economics: an entrepreneurship journal, 55(1), 283-304.
DOI Scopus56 WoS47
2020 Wellalage, N. H., & Reddy, K. (2020). Determinants of profit reinvestment undertaken by SMEs in the small island countries. Global Finance Journal, 43(100394), 1-13.
DOI Scopus12 WoS9
2020 Wellalage, N. H., Fernandez, V., & Thrikawala, S. (2020). Corruption and innovation in private firms: does gender matter?. International Review of Financial Analysis, 70(101500), 1-14.
DOI Scopus45 WoS22
2020 Wellalage, N. H., & Locke, S. (2020). Formal credit and innovation: is there a uniform relationship across types of innovation?. International Review of Economics and Finance, 70, 1-15.
DOI Scopus18 WoS17
2019 Wellalage, N. H., Locke, S., & Samujh, H. (2019). Corruption, gender and credit constraints: evidence from South Asian SMEs. Journal of Business Ethics, 159(1), 267-280.
DOI Scopus71 WoS62
2019 Wellalage, N. H., & Fernandez, V. (2019). Innovation and SME finance: evidence from developing countries. International Review of Financial Analysis, 66(101370), 1-14.
DOI Scopus134 WoS121
2018 Wellalage, N., Locke, S., & Acharya, S. (2018). Does the composition of boards of directors impact on CSR scores?. Social Responsibility Journal, 14(3), 651-669.
DOI Scopus23 WoS17
2017 Wellalage, N., & Locke, S. (2017). Access to credit by SMEs in South Asia: do women entrepreneurs face discrimination. Research in International Business and Finance, 41, 336-346.
DOI Scopus73 WoS55
2016 Hewa Wellalage, N., & Locke, S. (2016). Informality and credit constraints: evidence from Sub-Saharan African MSEs. Applied Economics, 48(29), 2756-2770.
DOI Scopus46 WoS44
2015 Wellalage, N. H., & Locke, S. (2015). Impact of ownership structure on capital structure of new zealand unlisted firms. Journal of Small Business and Enterprise Development, 22(1), 127-142.
DOI Scopus13 WoS8
2014 Wellalage, N. H., & Locke, S. (2014). The Capital Structure of Sri Lankan Companies: A Quantile Regression Analysis. Journal of Asia Pacific Business, 15(3), 211-230.
DOI Scopus17
2013 Wellalage, N. H., & Locke, S. (2013). Corporate governance, board diversity and firm financial performance: New evidence from Sri Lanka. International Journal of Business Governance and Ethics, 8(2), 116-136.
DOI Scopus41
2013 Wellalage, N. H., & Locke, S. (2013). Women on board, firm financial performance and agency costs. Asian Journal of Business Ethics, 2(2), 113-127.
DOI Scopus77 WoS55
2013 Wellalage, N. H., & Locke, S. (2013). Capital structure and its determinants in New Zealand firms. Journal of Business Economics and Management, 14(5), 852-866.
DOI Scopus12 WoS11
2012 Wellalage, N. H., Locke, S., & Scrimgeour, F. (2012). Does one size fit all? An empirical investigation of board structure on family firms' financial performance. Afro Asian Journal of Finance and Accounting, 3(2), 182-194.
DOI Scopus12
2011 Wellalage, N. H., & Locke, S. (2011). Agency costs, ownership structure and corporate governance mechanisms: A case study in New Zealand unlisted small companies. International Research Journal of Finance and Economics, 78, 178-192.
Scopus6

Year Citation
2024 Ranabahu, N., Samujh, R. H., Rajapakshe, S., Wellalage, N. H., & de Vries, H. P. (2024). Dreamers, delayers, or doers: Entrepreneurial intentions and behaviours of former refugees in New Zealand. In N. Ranabahu, H. P. Vries, & R. T. Hamilton (Eds.), Source details - Title: Refugee Entrepreneurship: A Research Companion (pp. 51-70). US: Taylor and Francis.
DOI Scopus1
2016 Agyekum, F. K., Locke, S., & Wellalage, N. H. (2016). Does financial accessibility and inclusion promote economic growth in low income countries (LICs)?. In Financial Performance Analysis Measures and Impact on Economic Growth (pp. 99-135).
Scopus2

Year Citation
2019 Wellalage, N. H. (2019). Petty corruption on firm level innovation of MSMEs: Evidence from emerging economies. In 23rd International Congress on Modelling and Simulation Supporting Evidence Based Decision Making the Role of Modelling and Simulation Modsim 2019 (pp. 1188-1193).
2016 Wellalage, N., & Locke, S. (2016). Closely held family business agency costs between owners. In Proceedings of the 4th International Conference on Management Leadership and Governance Icmlg 2016 (pp. 377-382). RUSSIA, St Petersburg State Univ Econ, Saint Petersburg: ACAD CONFERENCES LTD.
2015 Abidin, S., Wellalage, N., & Chowdhury, I. (2015). Modelling the linkages between dividend policy and future earnings. In Proceedings 21st International Congress on Modelling and Simulation Modsim 2015 (pp. 1105-1111).
2015 Wellalage, N. H., Abidin, S., & Wang, L. (2015). Quantitative measurement of contagion effects during a Global Financial Crisis: Evidence from selected countries. In T. Weber, M. J. McPhee, & R. S. Anderssen (Eds.), Proceedings 21st International Congress on Modelling and Simulation Modsim 2015 (pp. 1050-1055). AUSTRALIA, Gold Coast: MODELLING & SIMULATION SOC AUSTRALIA & NEW ZEALAND INC.

  • Non-binary Individuals and Financial Wellbeing in Australia, Accounting And Finance Association of Australia And New Zealand Limited, 01/07/2023 - 30/06/2024

Courses I teach

  • BANK 5054 International Perspectives in FinTech (2025)
  • INFS 5128 Data Visualisation and Communication for Business Professionals (2025)
  • INFS 5130 Fundamentals of Data Analytics for Business (2025)
  • BANK 5054 International Perspectives in FinTech (2024)
  • INFS 5128 Data Visualisation and Communication for Business Professionals (2024)

Date Role Research Topic Program Degree Type Student Load Student Name
2024 Principal Supervisor Lived experiences of older Australians with a mortgage debt Doctor of Philosophy Doctorate Part Time Miss Arti Jhuremalani

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