Ms. Madushani Gunathilake

Senior Lecturer Grade II (On study leave)

Academic Qualifications

PhD:
PhD in Accounting, University of Glasgow, United Kingdom (2023-2027)
Master's:
MSc in Applied Finance, University of Sri Jayewardenepura, Sri Lanka Thesis: The Impact of Corporate Governance on the Corporate Dividend Policy of Listed Non-financial Companies in Sri Lanka
Master's:
MSc in Applied Statistics, University of Peradeniya, Sri Lanka Research Project: Long Memory in Stock Market Returns: Evidence from Sri Lanka
Bachelor's:
BBA (Financial Management) Special Degree with a first class honors, University of Peradeniya, Sri Lanka Thesis: Effectiveness of Audit Committee Practices in Sri Lanka with Reference to Listed Companies

Areas of Teaching

• Accounting
• Taxation

Research Interests

• Critical Accounting Research, Accountability, Governance
• Development Studies, Sustainable Development, Sustainable Development Goals
• Research Impact
• Research Impact

Publications and Research Projects

• Gunathilake, P.T.M. and Ranasinghe, M. (2018). Effectiveness of Audit Committees: Evidence from Listed Companies in Sri Lanka. Peradeniya Management Review, 1(1), pp.51–66. DOI: http://doi.org/10.4038/pmr.v1i1.26

• Presentation at the 3rd Annual Doctoral Colloquium, Interdisciplinary Perspectives Special Interest Group (IPSIG), British Accounting & Finance Association (BAFA), Hybrid at the University of Dundee, UK (04 Jul 2025)
• Presentation at the PhD Student Masterclass, Development Studies Association Conference (DSA2025), Hybrid at University of Bath, UK (24 Jun 2025)
• Presentation at the Panel Session 1 (P33)- Rethinking evaluation in times of crisis: empowerment, accountability and transformation in the Global North and South, Development Studies Association Conference (DSA2025), Hybrid at University of Bath, UK (25 Jun 2025)
• Presentation at the Scottish Doctoral Colloquium in Accounting & Finance, The Scottish Graduate School of Social Science (SGSSS) and British Accounting & Finance Association (BAFA) at the University of Dundee, UK (04 Jun 2025)
• Presentation at the Development Studies Association (DSA) Scotland Research Conference withCAREED (Centre for African Research on Enterprise and Economic Development) and PCRC (Protracted Crisis Research Centre) 2024 at the University of West of Scotland, UK (06 Sep 2024)
• Presentation at the Emerging Scholars Colloquium of 14th Interdisciplinary Perspectives on Accounting (IPA) Conference 2024 (02 Jul 2024)
• Edirisinghe, V. and Gunathilake, M. (2021). The Impact of Working Capital Management on Profitability: A Study on Banks and Finance Companies Listed on the Colombo Stock Exchange. Proceedings of the Second Peradeniya University International Management Research Sessions (iPUMSE), Faculty of Management, University of Peradeniya, Sri Lanka, 2(1), pp.276-281. ISSN: 2714-1403 (26 Nov 2021)
• Gunathilake, M. (2016). Impact of the exchange rate regime change on the value of Sri Lanka currency. Proceedings of the Peradeniya University International Research Sessions (iPURSE - 2016), University of Peradeniya, Sri Lanka, 20(1), pp. 33. ISBN 978-955-589-225-4
• Gunathilake, M. (2016). Impact of Corporate Governance Practices on Firm Performance: With Reference to Listed Companies in an Emerging Market. Proceedings of the International Conference–2016 on Corporate Finance, Governance &Sustainability, Delhi School of Business, India. 1(1), pp. 33.
• Gunathilake M. & Ranasinghe M. (2015). Audit Committee Effectiveness in Sri Lanka: With Reference to Listed Companies. Proceedings of the 4th International Conference on Management and Economics, ICME - 2015, Faculty of Management and Finance, University of Ruhuna, Sri Lanka. pp.44-56. ISBN 978-955-1507-39-8
• Gunathilake, M. and Ranasinghe, M. (2015). An Exploration of the Composition and Roles of Audit Committees in Sri Lankan Listed Companies. Proceedings of the Peradeniya University International Research Sessions (iPURSE - 2015), University of Peradeniya, Sri Lanka, 19(1), pp. 43. ISBN 978-955-589-201-8

• Gunathilake, P.T.M. (2018). Efficient Market Hypothesis: The Way Forward. Management Reader, Faculty of Management, University of Peradeniya, Sri Lanka, 1(2), pp.14-16. https://mgt.pdn.ac.lk/mreader/index.php

Direct Contact

Office Email madushani@mgt.pdn.ac.lk

Office Phone +94 81 239 4011

Memberships & Awards

• Member, Centre for Social and Environmental Accounting Research (CSEAR) https://csear.co.uk/
• Mentee, Thesis Mentoring Programme ttps://www.gla.ac.uk/myglasgow/ris/researcherdevelopment/forresearchstaff/engagewithmentoring/
• Member, Development Studies Association, UK https://www.devstud.org.uk/
• Member, European Association of Development Research and Training Institutes (EADI) https://www.eadi.org/
• Member, The Poverty Alliance, Glasgow, UK https://www.povertyalliance.org/
• Member, European Accounting Association (EAA) https://eaa-online.org/
• Student Affiliate Member, The American Institute of Certified Public Accountants (AICPA) https://www.aicpa-cima.com/feed
• Member, British Accounting & Finance Association (BAFA) https://bafa.ac.uk/
• Member, Sri Lanka Finance Association https://slfa.lk
• Member, Sri Lanka Finance Association https://slfa.lk
• Best Research Awards 2022 (Postgraduate Category) | First Runner-up Institute of Applied Statistics, Sri Lanka, incorporated by the Parliament of Sri Lanka on 20th Sep 2011 by the Institute of Applied Statistics, Sri Lanka (Incorporation) Act No. 38 of 2011 https://iassl.lk
• Best Research Awards 2021 (Postgraduate Category) | Second Runner-up Institute of Applied Statistics, Sri Lanka, incorporated by the Parliament of Sri Lanka on 20th Sep 2011 by the Institute of Applied Statistics, Sri Lanka (Incorporation) Act No. 38 of 2011 https://iassl.lk

Current Appointments

• Member, Faculty Board of Management (Jun 2021 - present)
• Member, Writing Team of the Faculty Self Evaluation Report (SER) for the Bachelor of Business Administration in Accounting & Finance (Honours) Degree Programme, submitting to the Quality Assurance Council of the University Grant Commission (UGC) of Sri Lanka (2023) (Apr 2023 to Aug 2023)
• Member, Fund Raising Committee, Sub Theme of Business Resilience in Crisis, Peradeniya University International Research Sessions (iPURSE) – 2023 (Apr 2023 to Aug 2023)
• Deputy proctor, Faculty of Management (Jan 2023 to Aug 2023)
• Chairperson, Faculty Media Unit (Aug 2022 to Aug 2023)
• Member, Committee appointed to Evaluate the Final Grade point Average (GPA) in the Lerner Management System (LMS) (Jul 2022 to Aug 2023)
• Member, Curriculum Revision Committee, Faculty of Management (May 2022 to Aug 2023)
• Member, Faculty Research Committee (Feb 2022 to Aug 2023)
• Member, Editorial Board of Peradeniya Management Newsletter, Newsletter of Faculty of Management, University of Peradeniya (Jan 2022 to Aug 2023)
• Member, Editorial Board of Peradeniya Management Student, Newsletter of the Students of Faculty of Management, University of Peradeniya (Jan 2022 to Aug 2023)
• Student Mentor, Student Mentoring Programme (2022 to Aug 2023)
• Member, Curriculum Revision Committee of the Bachelor of Science (Honours) in Computation and Management Degree Programme and Bachelor of Science (Honours) in Business Analytics (Jun 2021 to Aug 2023)
• Member, Faculty Internship Committee (Jun 2021 to Aug 2023)
• Department Internship Coordinator, Department of Business Finance (Jun 2021 to Aug 2023)
• Member, Faculty Accreditation Committee (April 2021 to Aug 2023)
• Member, Faculty Environmental Committee (Jul 2020 to Aug 2023)
• Representative (among Probationary Lecturers) to the Faculty Board of Management (Oct 2020 to Jun 2023)
• Member, Specialisation Committee 2023 (Jan 2023 to Apr 2023)
• Course Developer of the Course of BBA 2203 – Auditing & Taxation of Bachelor of Business Administration (BBA) Online Degree Programme, Centre for Distance & Continuing Education (CDCE), University of Peradeniya (Aug 2018 to May 2023)
• Member, Faculty Media Unit and Faculty Social Media Coordinator (Nov 2021 to Aug 2022)
• Member, Developing New Proposals and Syllabuses for Bachelor of Business Administration in Accounting (Honours) Degree Programme and Bachelor of Business Administration in Finance (Honours) Degree Programme, submitted to the approval of the University Grant Commission (UGC) of Sri Lanka (2018 to 2022)
• Member, Faculty Master Plan Committee (Dec 2018 to Mar 2022)
• Member, Specialisation Committee 2022 (2022)
• Voluntary Student Counsellor (2016 to 2022)
• Member, Peer Evaluation Panel, Department of Business Finance (2022)
• Member, Peer Evaluation Panel, Department of Human Resource Management (2022)
• Convener, Steering Committee to Prepare a Term of Reference for the Faculty Media Unit (Jun 2021 to Oct 2021)
• Member, Committee of Developing a Web-Based Student Feedback System (Mar 2021 to Aug 2021)
• Member, Business Forum Committee, Peradeniya University International Management Research Sessions (iPUMSE) – 2021 (Mar 2021 to Aug 2021)
• Chairperson, Business Forum Committee, Peradeniya University International Management Research Sessions (iPUMSE) – 2021 (Aug 2021 to Nov 2021)
• Member, Peer Evaluation Panel, Department of Business Finance (2021)
• Course Developer of the Course of BBA 1201 - Financial Accounting of Bachelor of Business Administration (BBA) Online Degree Programme, Centre for Distance & Continuing Education (CDCE), University of Peradeniya (June 2018 to 2020)
• Member, Writing Team of the Faculty Self Evaluation Report (SER) for the Bachelor of Business Administration (Honours) Degree Programme, submitted to the Quality Assurance Council of the University Grant Commission (UGC) of Sri Lanka (2018 to 2019)
• Senior Treasurer, Accounting & Finance Students’ Society (2018 to 2019)
• Convener, Committee to develop a Proposal for Seeking Financial Assistance under Result Area 1 - AHEAD Operation for Enhancement of Student Enrolment in STEM Disciplines and Employment Oriented Innovative Degree Programmes (2018)
• Senior Treasurer, Accounting and Finance Students’ Society (2018)
• Senior Treasurer, Accounting Students’ Society (2017)
• Member, Faculty Jubilee Committee (2017)
• Rag Prevention Committee, University of Peradeniya (Jan 2023 to Aug 2023)
• Faculty representative to the Media and Communication Unit, University of Peradeniya (Aug 2022 to Aug 2023)
• Nominated Member, Committee to develop a Proposal for Community Relations Office/Centre, University of Peradeniya (Jan 2022 to Aug 2023)
• Member, Writing Team of the Self Evaluation Report (SER) for the Institutional Review, University of Peradeniya, submitted to the Quality Assurance Council of the University Grant Commission (UGC) of Sri Lanka (2023) (Jun 2021 to May 2023
• Academic Coordinator, Technical Session E of Socioeconomic Progress and Governance, Peradeniya University International Research Sessions (iPURSE - 2021) (Nov 2021)
• Session Coordinator, Technical Sessions, Peradeniya University International Research Sessions (iPURSE - 2017) (Nov 2017)
• Chief Examiner: Evaluation of Answer Scripts of GCE (Advanced Level) Examination appointed by the Department of Examinations - Sri Lanka
• Key responsibilities included supervising a panel of accounting teachers tasked with evaluation of answer scripts of the GCE (Advanced Level) Accounting paper GCE (Advanced Level) Examination – 2022 GCE (Advanced Level) Examination – 2021 GCE (Advanced Level) Examination – 2020 (New Syllabus) GCE (Advanced Level) Examination – 2020 (Old Syllabus)
• Resource Person to the Module of “Planning and the Planning Process”, Orientation Training Programme for the New Graduate Appointees to the Government of Sri Lanka (17 Sep 2020)
• Member, Advisory Board, Zero Plastic Students’ Society, University of Peradeniya, Sri Lanka (2021 to Aug 2023)
• Treasurer, Peradeniya Faculty of Management Teachers’ Association (PFOMTA), University of Peradeniya, Sri Lanka (2021 to Aug 2023)
• Committee Member, Teachers’ Welfare Association, Faculty of Management, University of Peradeniya, Sri Lanka (2021 to Aug 2023)