Dr. SMDCW Senarathne

• Ph.D in Industrial Economics, Wuhan University of Technology, PR China • MBA in Finance, University of Colombo • B.Sc. in Human Resource Management (Special), University of Sri Jayewardenepura • Member of the Chartered Institute of Management Accountants of United Kingdom (CIMA –UK) • Member of the Institute of Chartered Accountants of Sri Lanka (ACA) • Chartered Global Management Accountant (CGMA)

Accounting and Finance
Faculty of Management Studies
GS
Senior Lecturer
Contact:

Colombo Regional Center, 2nd Floor, HSS Building

Office: 0112881424, Ext: 7501 Mobile: 0704616177 Fax: -

E-mail: smdse@ou.ac.lk -

Dr. Senarathne is a Senior Lecturer attached to the Department of Accounting and Finance. Prior to pursuing his doctoral studies, he has worked in the stockbroking and margin trading industry in Sri Lanka for seven (07) years. Additionally, he has more than ten (10) years of experience in the accounting and financial services sector, which includes handling correspondence with courts for the liquidation of companies and working in the auditing services industry in Sri Lanka.

Educational Qualifications:
B.Sc. in Human Resource Management (Special), March 2007, University of Sri Jayewardenepura.
M.B.A. in Finance, May, 2015, University of Colombo.
Ph.D. in Industrial Economics, October, 2020, Wuhan University of Technology.

Dissertation: “The Role of Firm-specific Information for Functional Efficiency of the Colombo Stock Exchange.”

  • Condition of conferral: “Write a novel (i.e. a unique and original script) for the entire scholarly community in such discipline that has never been written before”.
  • Discipline: Financial Econometrics
  • Area of study: Testing parametric assumptions of OLS – detecting heteroskedastic mixture of error (residuals) distribution.
  • Publication: “Testing for Heteroskedastic Mixture of Ordinary Least Squares Errors”, Romanian Journal Economic Forecasting (indexed in SSCI).
  • Contribution: Extended Breusch & Pagan, (1979) auxiliary regression based test procedure for detecting heteroskedastic mixture of OLS residuals. A Chi-square test was also proposed.

    • Professional Qualifications:

  • Chartered Management Accountant, October 2016, the Chartered Institute of Management Accountants of United Kingdom (CIMA –UK).
  • Chartered Accountant, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), August 2010.
  • Chartered Global Management Accountant, Association of International Certified Professional Accountants (AICPA), October 2016.
      • Industry Experience:

    • Senior Lecturer, Department of Accounting and Finance, The Open University of
    • Sri Lanka, 2024 to present.
    • Lecturer (on contract), Department of Marketing Management, The Open University of Sri Lanka, 2022–2023.
    • Lecturer/Programme Leader, Colombo Institute of Research and Psychology, 2021–2022.
    • Ph.D. Candidate, School of Economics, Wuhan University of Technology, 2017–2020
    • Chief Operating Officer, Bansei Securities Finance Ltd- Linseced by SEC, 2014–2017.
    • Chief Financial Officer, Navara Securities Pvt Ltd (formerly New World Securities Pvt Ltd –Member of CSE), 2011–2014.
    • Head of Finance cum Compliance, SMB Securities (Pvt) Ltd–Member of CSE, 2011.
    • Career Break – Volunteering, Auckland, New Zealand, 2010.
    • Finance Manager, Media Factory Ltd and Madison Media, 2006 to February 2010.
    • Audit Trainee, Audit Supervisor, Audit Manager, H.T. Peiris & Co, Chartered Accountants, 2000–2006.

      • Teaching Experience:

      Introduction to Economics, Microeconomics, Macroeconomics, Managerial Economics, Financial Econometrics, Research Methodology, Marketing Management, Research Project, Seminar in Research (resource person), Personality , Group Behaviour, Leadership, Change Management, Research Methods, Statistics I & II, Dissertation Module, Corporate Finance, Corporate Finance Strategy, Statistics I & II, Dissertation Module, Effects of Change.

      Research interests:

      • Financial econometrics
      • Financial economics
      • Energy economics
      • Finance
      • Capital markets
      • Blockchain Technology
      • Crypto currency
      • Management
      • Psychology

      Contributions:
    • Academic Contributions
    • Managing Editor, Sri Lanka Journal of Management Studies, 2022 to present.
    • Editor – Editorial Review Board, International Journal of Applied Behavioral Economics, 2020 to present.
    • Editor – Editorial Review Board, International Journal of Business and Economics, 2021 to present.
    • Leader, Innovation and Change, Committee on Research Advice in Distance Education (CRADE), The Open University of Sri Lanka, 2022 -2023.
    • Reviewer, Studies in Nonlinear Dynamics & Econometrics, 2019/2020.
    • Reviewer, Studies in Economics and Finance, 2019/2020.
    • Reviewer, Colombo Business Journal, 2020/2021.
    • Reviewer, South Asian Journal of Finance, 2024
    • Recent Conference Committees:
    • Track Chair & Coordinator, Doctoral Colloquium, ICOME 2022
    • Track Chair & Coordinator, Doctoral Colloquium, ICOME 2023
    • Industry Contribution

      • Senarathne, S.M.D.C.W (September, 2012). Risk adjusted net capital and broker credit: A risk based approach. Unpublished expression of interest submitted to Colombo Stock Exchange, New World Securities Pvt Ltd.
      Adapted: Media Release dated 16th February 2016 entitled “CSE to Introduce Risk – Based Capital Adequacy Requirement for Stockbroker Firms”.

      Course Coordination:

      • AFC 2308 Introduction to Economics
      • AFU 3402 Microeconomics
      • AFU 4402 Macroeconomics
      • AFU 5507 Managerial Economics
      • AFU 6423 Financial Econometrics

      Publications:

      Selected publications:

      1. Senarathne, C. W., & Jianguo, W. (2020). Testing for Heteroskedastic Mixture of Ordinary Least Squares Errors. Romanian Journal of Economic Forecasting, 23(2), 73-91. (Indexed in Social Science Citation Index, Scopus)
      2. Senarathne, C. W., & Jianguo, W. (2020). Does crude oil price respond to us oil and gas industry value chain economics. International Journal of Oil, Gas and Coal Technology 27(4), 434-456. (Indexed in Science Citation Index Expanded, EI Compendex, Scopus)
      3. Senarathne, C. W., & Jayasinghe, P. (2021). The impact of energy consumption and merchandise exports on CO2 emission in the United Nations geoscheme regions. International Journal of Energy Sector Management, 15(6), 1181-1198. (EI Compendex, Clarivate Analytics)
      4. Senarathne, C. W., & Jianguo, W. (2020). Volatility spillovers between us banking industry and Bitcoin market: Risk implications for banking industry, 2020, The 2nd International Conference on Blockchain Technology, Hawaii University, Hilo, Hawaii, USA, 2020. (Indexed in EI Compendex, Scopus)
      5. Senarathne, C.W, & Jianguo, W. (2018). The stochastic implications of permanent income hypothesis for US speculative traders: Implications for consumption-based asset pricing. Croatian Economic Survey, 20(2), 5-32. (Indexed in Clarivate Analytics and Scopus)
      6. Senarathne, C.W, & Jianguo, W. (2018). Do investors mimic trading strategies of foreign investors or the market: Implications for capital asset pricing. Studies in Business and Economics, 13(3), 171-205. (Indexed in Clarivate Analytics and Scopus)
      7. Senarathne, C. W. (2019). Gambling behaviour in the cryptocurrency market. International Journal of Applied Behavioral Economics, 8(4), 1-16. (Indexed in Clarivate Analytics)
      8. Senarathne, C. W., & Jayasinghe, P. (2017). Information flow interpretation of heteroskedasticity for capital asset pricing: An expectation-based view of risk. Economic Issues, 22(1), 1-24. (Indexed in Clarivate Analytics)
      9. Senarathne, C. W. (2019). The information flow interpretation of margin debt value data: Evidence from New York Stock Exchange. Applied Economics Journal, 26(1), 45-70. (indexed in Clarivate Analytics)
      10. Senarathne, C. W., & Malawana, V. (2019). Capital structure, working capital management and potential growth of a business: The case of the Sri Lankan stockbroking industry. Asia-Pacific Management Accounting Journal, 14(1), 19-41. (Indexed in Clarivate Analytics)
      11. Senarathne, C. W. (2020). The optimal capital structure under the conditions of employment: An application of theory X and theory Y. Zagreb International Review of Economics & Business, 23(1), 51-69. (Indexed in Clarivate Analytics)
      12. Senarathne, C. W., & Wei, J. (2018). The impact of patent citation information flow regarding economic innovation on common stock returns: Volume vs. patent citations. International Journal of Innovation Studies, 2(4), 137-152. (Indexed in Scopus)
      13. Senarathne C. W. & Jianguo W. (2018). Impact of economic value addition of economic innovation on US equity risk premium. Proceedings of the 15th International Conference on Innovation & Management, Wuhan: Wuhan University of Technology Press, (Indexed in CPCI)
      14. Senarathne, C. W. (2019). Do Fama–French common risk-factor portfolio investors herd on a daily basis? Implications for common risk-factor regressions. Journal of Capital Markets Studies, 3(2), 137-156.
      15. Senarathne, C. W., & Perera T.R. (2021). Volatility spillovers between United States ethanol market and Bitcoin market: Implications for industry policymaking. Parana Journal of Science and Education, 7(7), 7-19.
      16. Senarathne, C. W., & Šoja, T. (2019). Heteroskedasticity in excess Bitcoin return data: Google trend vs. GARCH effects. Financial Sciences, 24(3), 35-45.
      17. Senarathne, C. W. (2020). Are religious believers irrational: A direct test from an efficient market hypothesis. Financial Sciences. Nauki o Finansach, 25(1), 35-53.
      18. Senarathne, C. W, & Jianguo, W. (2020). Herd behaviour in the cryptocurrency market: Fundamental vs. spurious herding. The European Journal of Applied Economics, 17(1), 20-36.
      19. Senarathne, C. W. (2019). Possible impact of facebook’s libra on volatility of bitcoin: evidence from initial coin offer funding data. Management of Organizations: Systematic Research, 81, 87-100.
      20. Senarathne, C. W. (2019). The impact of internet information flow regarding ‘innovation’ on common stock returns: Volume vs Google search quarries. Management of Sustainable Development, 11(1), 43-49.
      21. Senarathne, C. W. (2019). The leverage effect and information flow interpretation for speculative Bitcoin prices: Bitcoin volume vs ARCH effect. European Journal of Economic Studies 8(1), 77-84.
      22. Senarathne, C. W., & Jianguo, W. (2019). The relationship between human behavior and stock returns in efficient stock markets: The mood-effect under a cultural perspective. Research Papers of the Wroclaw University of Economics, 2(63), 207-220.
      23. Jianguo, W., Senarathne,C.W., & L Fangrui (2019). Investigation and study on health status of scientists and technicians in Wuhan. Pioneering with Science & Technology Monthly, 32(12).
      24. Šoja, T & Senarathne, C.W. (2019). Bitcoin and portfolio diversification: A global investor’s perspective. Bankarstvo, 48(4), 12-48.
      25. Senarathne, C.W and Long W. (2020). industry competition and common stock returns. Management Sciences, 24(3), 25-35.
      26. Senarathne, C.W. (2019). The impact of investors’ press reading time on heteroscedasticity of stock returns: The case of intercontinental exchange, East-West Journal of Economics and Business, 22 (2), 65-80.
      27. Senarathne, C. W., & Perera T.R. (2021). The association between depression and anxiety, and stock market investments in the United States, Reviews of Management Sciences, 8(2), 1-13.

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