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Duminda KuruppuarachchiSenior Lecturer
PhD (Otago), MBA (UoM), PGDBM (Colombo), B.Sc (USJP)

Office OBS 5.29
Tel +64 3 479 5609
Email duminda.ka@otago.ac.nz

Dr Duminda Kuruppuarachchi is a Senior Lecturer in Finance in the Department of Accountancy and Finance at the University of Otago, and joined as a Lecturer in 2018 following a 15-year extensive academic career at the University of Sri Jayewardenepura, Sri Lanka. He holds a PhD in Finance from the University of Otago, as well as qualifications in Management (University of Moratuwa and University of Colombo) and Statistics (University of Sri Jayewardenepura).

Duminda’s research focuses on climate and energy finance, market efficiency and risk across energy, equity and futures markets, and financial econometric modelling. He is actively involved in the Climate and Energy Finance Group (CEFGroup), currently serving as Co-Director, and coordinates the annual CEFGroup Symposium. He also leads the Accountancy & Finance Department’s research committee while representing the Divisional Research Committee as a member. His research has been published in leading ABDC-ranked, A* and A journals, including Energy Economics, Applied Economics, and the International Review of Financial Analysis, among many others.

He teaches undergraduate and postgraduate papers in financial econometrics and empirical finance, and has led significant curriculum development, including the incorporation of machine learning into finance teaching. Duminda is an experienced postgraduate supervisor, contributing to numerous PhD and masters theses in areas such as climate risk, ESG, and financial markets.

He is a member of the Accounting and Finance Association of Australia and New Zealand (AFAANZ) and actively contributes to academic service and peer review in his field, serving as a reviewer for leading ABDC-ranked, A* and A journals such as Energy Economics, British Accounting Review, Journal of Futures Markets, International Review of Financial Analysis, Applied Energy, Climate Policy, and Economic Modelling, among others.

For more information please refer to:

Teaching

Research interests

  • Environmental and Climate Finance
  • Market Efficiency and Information Spillovers in Financial Markets
  • Financial Modelling and Empirical Asset Pricing

Publications

Karunarathne, D., Luong, H., & Kuruppuarachchi, D. (2026). Firm-level political risk and ESG controversies: International evidence. Meditari Accountancy Research, 34(7), 97-136. doi: 10.1108/MEDAR-03-2025-2938 Journal - Research Article

Perera, K., Kuruppuarachchi, D., Suleman, M. T., & Kumarasinghe, S. (2026). Climate change and idiosyncratic volatility: Moderating role of ESG disclosure. Applied Economics. Advance online publication. doi: 10.1080/00036846.2026.2621942 Journal - Research Article

Liao, L., Diaz-Rainey, I., & Kuruppuarachchi, D. (2025). The interplay of carbon offset, renewable energy certificate and electricity markets in Australia. Energy Economics, 144, 108343. doi: 10.1016/j.eneco.2025.108343 Journal - Research Article

Perera, K., Kuruppuarachchi, D., Kumarasinghe, S., & Suleman, M. T. (2025). Climate risk and the idiosyncratic volatility puzzle. Applied Economics, 57(27), 3689-3708. doi: 10.1080/00036846.2024.2337816 Journal - Research Article

Liao, L., Diaz-Rainey, I., & Kuruppuarachchi, D. (2024, November). Does carbon premium differ among estimated, mandatory- and voluntary disclosed emissions? Evidence in Australia. Verbal presentation at the 5th Climate and Energy Finance Group (CEFGroup) Sustainable Finance and Accounting Symposium, Queenstown, New Zealand. Conference Contribution - Verbal presentation and other Conference outputs

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