SUSL Staff Directory

Professor DAI Dayaratne

Professor

indunil@mgt.sab.ac.lk

Qualifications

2010 - PhD (Financial Economics), University of Colombo

2001 - M.Sc. in Management,University of Sri Jayewardenepura

1996 - B.Sc. in Financial Management, Sabaragamuwa University of Sri Lanka

2005 - Certificate in Teaching in Higher Education, The Staff Development Center, University of Colombo


Membership of Professional Bodies/Associations

Membership of Professional Bodies/Associations

Life member Sri Lanka Economic Association

Member Sri Lanka Finance Association

Member in Board of Academic Boards

Member and Secretary of the Management Committee Centre for Open and Distance Learning-SUSL.

Member of Board of Study of Indigenous Community Studies.

Member of Carrier Development Committee –SUSL

Member of Programme Committee Staff Development Centre – SUSL.

Academic Board Member of Military Academy Diyatalawa. 2007 – 2010.

Council Member and the Member of the Sri Lanka Economic Association.

Member Board of Studies for Development Studies Faculty of Graduate Studies, University of Colombo.

Member Board of Studies for Professional Studies Faculty of Graduate Studies, University of Colombo

Administrative works Held

2017 March- to- date: Head, Department of Accountancy & Finance, SUSL

01.07.2007 – 19.01.2018: Senate nominee to the University Council, SUSL

01.11.2006 – to -date: Member of University Senate

2015-to-date: Council member, Sri Lanka Economic Association

2014.07.01 -2017.09.01: Director, Center for Opening & Distance Learning, SUSL

01.07.2007 – 30.06.2010: Dean, Faculty of Management Studies, SUSL

01.11.2006 – 31.07.2007: Head, Department of Accountancy & Finance, SUSL

2012-2014: Coordinator Master in Development Studies Faculty of Graduate Studies University of Colombo

2013-2015: Coordinator Master in Labour Relations and Human Resource Management Faculty of Graduate Studies University of Colombo

01.02.2001 – 31.01.2005: Programe Coordinator Department of Accountancy & Finance

15.05.2005 – 31.07.2005: Coordinator Practical training unit Faculty of Management Studies.

2007 – 2010: Academic Board Member of Military Academy, Diyatalawa

2016 – Up-to-date: Council Member of the Sri Lanka Economic Association.


Research Interests

Assets Pricing, Investment Analysis, Corporate Governance, Capital Structure Theories, Capital market Efficiency


Recent Publications

Journals

Dayaratne D.A.I, Dharmaratne D.G. & Haris S.A. (2006). Measuring the risk and performance in plantation sector using CAPM based Jensen’s Alpha, Sabaragamuwa University Journal, 6, 68-81.

Dayaratne D.A.I & Dharmaratne D. G. (2008). Measuring the risk and Return Relationship of Manufacturing sector in Colombo Stock Exchange 2008, Sabaragamuwa University Journal Special Issue.

Dayaratne D.A.I & Lakshman, R.W.D. (2010). Stock Market Volatility and Important Events: Evidence from Colombo Stock Exchange and the New York Stock Exchange. Available at SSRN: http://ssrn.com/abstract=1762111 or http://dx.doi.org/10.2139/ssrn.1762111

Dayaratne D.A.I & PeirisM. T. U. I. (2012). Testing Stock Market Efficiency in Emerging Financial Markets: A Comparative Test of Random Walk Behaviour (RWB) in High and Low Volatility Regimes. Gian Jyoti E – Journal, Vol 2. Issue 3 ISSN 2250 – 348x.

Peiris M. T. U. I. & Dayaratne D.A.I. (2012). Measuring Macroeconomic Causes of Stock Market Volatility in High and Low Volatility Regimes of An Emerging Economy. Gian Jyoti E – Journal, Vol 2. Issue 3. ISSN 2250 – 348x.

D.A.I & Peiris T.U.I (2012). Is Industry Beta Time Varying or Constant: Evidence from Colombo Stock Exchange, The Journal of World Economic Review. Vol, 07 No 2, 159-165. Serial Publications.

Dayaratne D.A.I (2013). Emergence of Capital Asset Pricing Model (CAPM): A literature Review, Sri Lanka Economic Journal June 2011

Dayaratne D.A.I & Lakshman R. W. D (2012), Sensitivity of Stock Prices to Economic Events: Econometric Evidence from Sri Lankan Stock Market and US Stock Market, Sabaragamuwa University Journal Volume 11 No 1; pp 20-31, ISSN 1391 – 3166.

Dayaratne D.A.I (2014). A comparative Study for Pre-and Post War Performance of Colombo Stock Exchange (CSE), Sabaragamuwa University Journal Volume 13 No 1; pp 43-55, ISSN 1391 – 3166

Wijethunga A.W.G.C.N. & Dayaratne D.A.I (2015). Time Varying Estimate of Beta (Systematic Risk): Evidence from Colombo Stock Exchange. International Journal of Accounting & Business Finance, 1(1), 64-74

Wijethunga A.W.G.C.N., Dayaratne D.A.I & Dharmaratne D.G. (2015). Influence of Macroeconomic variables on foreign and local Investor Behaviour in Colombo Stock Exchange. Wayamba journal of Management, 6, 84-111

Dayaratne D.A.I & Wijethunga A.W.G.C.N. (2015). Stock Market Development and Economic Growth: War and Post War Evidence from Colombo Stock Exchange. Proceedings of Fourth Annual International Research Conference of South-eastern University of Sri Lanka, 271-278

Dayaratne D.A.I & Wijethunga A.W.G.C.N. (2015). Impact of Psychology on Behavioral Intention in Investing in Capital Markets: A Survey from Colombo Stock Exchange. International Journal of Accounting & Business Finance, 1(2), 37-45

Dayaratne D.A.I & Wijethunga A.W.G.C.N. (2015). The dynamic relationship between Initial Public Offerings (IPOs) and macroeconomic variables: Evidence from emerging stock market of Sri Lanka. International Journal of Liberal Arts and Social Science, 3(9),76-83

Dayaratne D.A.I & Wijethunga A.W.G.C.N. (2015). Relationship between Stock Market Development and Economic Growth: War and Post War Evidence from Colombo Stock Exchange. Colombo Journal of Multi-Disciplinary Research, 2(2), 74-87.

Dayaratne D.A.I & Wijethunga A.W.G.C.N. (2015). Financial Sector Development and Economic Growth. Journal of Accountancy and Finance, 2(2), 22-30.

Wijethunga A.W.G.C.N. & Dayaratne D.A.I (2015), Calendar Anomalies in an Emerging Stock Market: Evidence from the Colombo Stock Exchange. Journal of Accountancy & Finance, 2(1), 30-51

Kumara G.D.K. & Dayaratne D.A.I (2015). Long run determinants of equity foreign portfolio investment in Sri Lanka: a time series analysis with Autoregressive Distributive Lag (ARDL) approach. Colombo Business Journal

Wijethunga A.W.G.C.N. & Dayaratne D.A.I (2016). Initial and after market performance of Initial Public offerings: New evidence from Colombo Stock Market. International Journal of Accounting & Business Finance, 2(1), 14-27

Wijethunga A.W.G.C.N. & Dayaratne D.A.I (2016). Long run determents of sectorial stock returns: evidence from Colombo Stock exchange. International Journal of Accounting & Business Finance, 2(2), 19-27

Dayaratne D.A.I & Wijethunga A.W.G.C.N. (2017). Volatility of Stock Returns in Colombo Stock Exchange (CSE) in War and Post War Period. Sri lanka Economic Journal. 14(1),74-83

Wijethunga A.W.G.C.N. & Dayaratne D.A.I (2017). Does Market Capitalization Matters for the Weak-form Market Efficiency: Recent Evidence from Colombo Stock Exchange. International Journal of Accounting & Business Finance, 3(2), 1-18

Book Chapters

Dayaratne D.A.I. & Lakshman, R. W. D (2009). Multifactor Explanations of Asset Pricing Anomalies in US Market Under Crisis Periods", in Competitive Management in a Dynamic World, University of Colombo. ISBN 978-955-9021-79-7

Peiris, T. U. I. & Dayaratne D. A. I. (2011) Measuring Volatility Co-Movement: Empirical Investigation in North America, Europe and Asia Markets. International Conference on Business & Information, Colombo, Sri Lanka.

Dayaratne D. A. I. & Lakshman R. W. D (2012), The Inter-links between Stock Market Volatility and Crises: Evidence from Colombo and New York Stock Exchanges. In Transformation and Survival of Business Organizations: Challenges and Opportunities. (eds) S. S. Bhakar, T. Singh, K. K. Yadav, and A. Methra. Macmillan Advanced Research Series. pp. 116-124. New Delhi, Macmillan Publishers India Ltd.

Dayaratne, D.A.I & PeirisT.U.I (2012), Volatility Co-Movement and Spillover in High and Low Volatility Regimes: Evidence from Stock Markets. In Transformation and Survival of Business Organizations: Challenges and Opportunities. (eds) S. S. Bhakar, T. Singh, K. K. Yadav, and A. Methra. Macmillan Advanced Research Series. pp. 116-124. New Delhi, Macmillan Publishers India Ltd.

Dayaratne D.A.I (2012). Link Between Economic Growth and Stock Market Performance(eds) H. Madana Bandara. A Stamford Lake Publishers Sri Lanka.

Dayaratne D.A.I (2013) Performance of Capital Asset Pricing Model (CAPM) and Fama and French three Factor Model (FF3F) in High and Low Volatility Regimes: Developed Market Evidence in S.S. Bhakar, Shailja Bhakar, Nitin Paharia, Gaurav and Ravindra Pathak (eds) Global Advances and Innovations in IT and Management. Bloomsbury Publishing India. pp 146 -160 ISBN: 978-93-82563-57-0.

Peiris T.U.I & Dayaratne D.A.I (2013) Common Component Analysis in Sectoral Fluctuations: Evidence from an Emerging Stock Market. in S.S. Bhakar, Shailja Bhakar, Nitin Paharia, Gaurav and Ravindra Pathak (eds) Global Advances and Innovations in IT and Management. Bloomsbury Publishing India. pp 17-29 ISBN: 978-93-82563-57-0.

Dayaratne D.A.I & Peiris T.U.I (2013) Behaviour of Crude Oil Prices of WTRG Countries is Random or Non-Random. in S.S. Bhakar, Shailja Bhakar, Nitin Paharia, Gaurav and Ravindra Pathak (eds) Global Advances and Innovations in IT and Management. Bloomsbury Publishing India. pp 211 - 217 ISBN: 978-93-82563-57-0.

Wijethunga A.W.G.C.N. & Dayaratne D.A.I. (2016). Analysis of dynamic Linkage of Stock returns and Exchange Rates: Comparative Evidence from Sri Lanka and India, Innovation and Emerging trends in Business Management and Information Technology I, 134-142.

Liyanage S. & Dayaratne D.A.I. (2016). Analysis of dynamic Linkage of Stock returns and Exchange Rates: Comparative Evidence from Sri Lanka and India, Innovation and Emerging trends in Business Management and Information Technology I, 253-264.

Conference Proceedings

Dayaratne D.A.I, D.G Dharmarathne &S.A Haris (2006). Systematic and Unsystematic Risk in Common Stock Investment: Evidence from Colombo Stock Exchange. 10th Anniversary International Symposium Sabaragamuwa University of Sri Lanka.

Dharmarathne D.G., Haris S.A, & Dayaratne D.A.I (2006). Systematic and Unsystematic Risk in Common Stock Investment: Evidence from Colombo Stock Exchange. 10th Anniversary International Symposium Sabaragamuwa University of Sri Lanka.

Haris S.A, Dayaratne D.A.I & Dharmarathne D.G. (2006). Systematic and Unsystematic Risk in Common Stock Investment: Evidence from Colombo Stock Exchange. 10th Anniversary International Symposium Sabaragamuwa University of Sri Lanka.

Dayaratne D.A.I & Dharmarathna D.G. (2008). Measuring Risk & Return Relationship of Manufacturing Sector in Colombo Stock Exchange. Second International Conference Sabaragamuwa University of Sri of Sri Lanka.

Dayaratne, D. A. I. & Lakshman R. W. D. (2011). Validity of Capital Asset Pricing Model (CAPM) and Fama and French Three Factor Model (FF3F) During Crisis and Non-Crisis Periods: Emerging Market Evidence. Global Finance Conference, e-Proceeding., Bangkok, Thailand, Global Finance Association.

Jayasekara Y. & Dayaratne D.A.I (2014) An Analysis of the Capital Structure of Firms and Its Impact on Firm Value: An Empirical Study of Selected Firms Listed on the Colombo Stock Exchange.

Wijethunga A.W.G.C.N & Dayaratne D.A.I (2015). Time Varying Estimate of Systematic Risk: Evidence from Colombo Stock Exchange. Annual Research Session (2014) Sabaragamuwa University of Sri Lanka.

Wijethunga A.W.G.C.N. & Dayaratne D.A.I (2016). Analysis of Dynamic Linkage of Stock Returns and Exchange Rates: Comparative Evidence from Sri Lanka. 1stIntra-disciplinary Conference of Management Researchers. SUSL.

Jayasekara, Y. & Dayaratne D.A.I. (2016). An Analysis of Capital Structure of Firms and Anomalies that Persist in the Sri Lankan Context: An Empirical Study of Selected Firms Listed on the Colombo Stock Exchange. 1st Intra-disciplinary Conference of Management Researchers. SUSL.

Mauda B. & DayaratneD. A. I. (2016). Effect of Audit Committee Characteristics on Real Activities Manipulation: Evidence from Nigerian Listed Manufacturing Firms. 1st Intra-disciplinary Conference of Management Researchers. SUSL.

Kumara A.A.A.G., Dayaratne D.A.I & Wijethunga A.W.G.C.N. (2016). Relationship between Risk and Return in Colombo Stock Exchange: A Beta Sorted Portfolio Approach. 1st Intra-disciplinary Conference of Management Researchers. SUSL.

Wijethunga, A.W.G.C.N., Dayaratne D.A.I & Dharmaratne D.G.(2016). Influence of Macro-Economic Variables on Foreign and Local Trading Behaviour in Colombo Stock Exchange.1st Intra-disciplinary Conference of Management Researchers. SUSL.

Dayaratne D.A.I & Wijethunga A.W.G.C.N (2016). Volatility of Stock Returns in Colombo Stock Exchange (CSE) in war and post war periods. Proceedings international conference on Innovation and Emerging Trends in Business Management and Information Technology, September 25-27, Jiwaji University Gwalior, India.

Dayaratne D.A.I. & Liyanage S. (2016). Bankers Awareness of Money Laundering and Main sources of Money Laundering in Sri Lanka Proceedings international conference on Innovation and Emerging Trends in Business Management and Information Technology, September 25-27 Jiwaji University Gwalior, India.

Wijethunga A.W.G.C.N. & Dayaratne D.A.I. (2017). Does Military Expenditure Matter for Economic Growth? Proceedings of 4th Annual Research Symposium on Social Sciences and Humanities, National Centre for Advanced Studies in Humanities & Social Sciences Sri Lanka, 87-96

Hapuhinna H.K.D.W.M.N.A.H. & Dayaratne D.A.I. (2017). Impact of Selected Macro-Economic Variables on Foreign Direct Investments (FDI) in Sri Lanka. Proceedings of 4th Annual Research Symposium on Social Sciences and Humanities, National Centre for Advanced Studies in Humanities & Social Sciences Sri Lanka, 92-96.

Editorial Works

Member of reviewer panel Research Symposium UVA Wellassa University of Sri Lanka - 2011

Member of editorial board annual postgraduate research session -2012 & 2013.Faculty of graduate studies university of Colombo.

Member of reviewer panel 1st International Economic Research Conference of Sri Lanka forum of University Economists 2012.

Member of the review panel Sri Lanka Journal of Economic - 2013.

Member of Review Panel FGS Journal, University of Colombo - 2013

Editor-in- Chief of the edited book series of “Contemporary issues in Finance”, Department of Accountancy & Finance, Sabaragamuwa University of Sri Lanka, 2016 to up to date

A reviewer of the 1st Intradisciplinary Conference of Management Researchers organized by Faculty of Management Studies, Sabaragamuwa University of Sri Lanka, 9th - 10th August, 2016

A reviewer of the 6th International Conference of Sabaragamuwa University of Sri Lanka organized by Sabaragamuwa University of Sri Lanka, 3rd - 5th May, 2017

A Member of the Scientific Committee of the 2nd Interdisciplinary Conference of Management Researchers “Empowering Sustainable Tourism, Organizational Management and Our Environment", Jointly organized by Sabaragamuwa University of Sri Lanka, Northern Arizona University and University of Technology Mara, held in Belihuloya, Sri Lanka on 19th – 22nd October, 2017