Academic and Professional Qualification


  • Ph.D., Finance, Savitribai Phule Pune University, 2016
  • NET, University Grant Commission, 2012
  • I.C.W.A., Institute of Cost and Works Accountants of India ICMA, 2007.
  • M.Com., Pune University, 2004.



Honors and Awards


  • ‘Pat on the Back’ award for excellent performance and contribution in the Institute at ITM in June 2017.


Certificate Courses & Memberships:


  • Financial Modeling Course by NSE & IMS Pro School
  • SEBI Registered Investment Advisor Level One
  • Fellow member of Institute of Cost and Works Accountants of India since January 2015



Courses Taught:

Management Accounting, Financial Management, Corporate Finance, Financial Modeling, Indirect Taxes, Financial Laws


Teaching Experience:  12 plus years


  • Associate Professor- Finance at MET’s Institute of Management Nashik (October 2017- 19 full time and adjunct faculty till March 21)
  • Assistant Professor - Finance with Institute for Technology and Management Kharghar, Navi Mumbai.(July 2016 to September 2017)
  • Approved faculty of University of Pune (Assistant Professor -Finance) at Ashoka Business School Nasik(October 2012 to July 2016)
  • Assistant Professor at Symbiosis Institute of Operations Management Nasik (August 2010 to October 2012).
  • Faculty for Finance at Omegan School of Business, Nasik (June 2008 to April 2010)
  • Visiting Faculty for various management post graduate courses (MBA, DTL, and MPM) at management Institutes in Nasik and also worked as a lecturer for M.Com. BBA, B.Com in KTHM College Nasik for 2 years.


Industry Experience:


Consultancy experience in the areas of Cost and Management Consultancy from 2009 to 2019


Ph.D. Topic:


A study of the Development of an Effective Corporate bond Market in India (with reference to small Investors)



Research Interest: 


Financial Statement Analysis, Investors attributes and Corporate Bond market from investors perspective


Recent Publications


Refereed Journal Articles


  • ‘Impact Of Corporate Bond Market Reforms On Primary Capital Market- Resource Mobilization’, Dr. Hema Gwalani, Dr. Yogesh Gaikwad, SHODH SARITA Vol. 7, Issue 28, October-December, 2020 Page Nos. 79-86, UGC care Approved, ISSN - 2348-2397
  • ‘Artificial Intelligence In Banking Sector’ Dr. Hema Gwalani, Dr. Yogesh Gaikwad, SHODH SANCHAR BULLETIN Vol. 10, Issue 40, October-December, 2020 Page Nos. 80-83, UGC care Approved, ISSN - 2229-3620
  • 'Assessment of Service Quality in Public Sector Banks in Nashik City with Reference to SERVQUAL Model', DY Gaikwad, DH Gwalani Quarterly Research Journal, AJANTA” An International Multidisciplinary Quarterly Research Journal Peer Reviewed Referred and UGC Listed Journal ISSN 2277-5730
  • A Research paper presented & published on ‘A study of the awareness and participation level of Retail Investors in Pre-Open Call Market’ at 10th ISDSI International Conference 2016, published in Metroid, International Journal of Management and Research, Issue III, Jan 2017, ISSN 2394-6423
  • A Research paper published on ‘A study of factors affecting investment decision of small investors in Corporate Bonds in India’ in International Journal of Social and Scientific Research, Volume 02, Issue III, Oct-Dec 2016, ISSN 2454-3187
  • A Research Paper published on Study on Micro Financing: Need for Innovation’ in We’Ken International Journal of Basic and applied sciences, Volume-1, Issue-2, June 2016 (WIJBAS) (On-line ISSN:2455-7609)
  • A research paper published on Emerging trends in Capital Market - Resource mobilization from Initial Public Offerings to Corporate Bonds with Dr. Shilpa Parakhi and Dr. D.B. Bharati, ICAI Research Bulletin, Vol. 41No. I (ISSN 2230 9241).
  • A Research paper published on ‘‘An analytical Study of the awareness level of Corporate Bond market in India among Retail Investors’ with Dr. D. B. Bharati, IBMRD’s Journal of Management & Research (Print ISSN:2277-7830, Online ISSN:2348-5922), Volume[1]4, Issue-1,March 2015
  • A Research Paper on “Financial Inclusion – Building the Success Model in the Indian Context’ published jointly with Dr. Shilpa Parakhi, Procedia – Social and Behavioral Sciences International Conference on Trade, Markets and Sustainability (ICTMS-2013) Volume 133, Pages 372-378 (15 May 2014)
  • A Research paper on ‘‘A study of Corporate Bond Market in India and its Liquidity’’ published jointly with Dr. D. B. Bharati in ‘International Journal of Research in Commerce & Management’ - VOLUME NO. 4 (2013), ISSUE NO. 09 (SEPTEMBER) 2013 (ISSN 0976 – 2183), page number 5-9
  • A Research paper on ‘Working Capital Analysis of few FMCG sector companies in India with the help of Ratio analysis’ published jointly with Dr. D. B. Bharati in International Research Journal of Commerce Business and Social Sciences, Volume 1, Issue 12(II), March 2013 - ISSN :2277-9310, page number 98-101
  • A Research Paper ‘Financial Inclusion – a Rundown’ Published in ‘Management Reflection’ Journal. Vol. 1, Issue I, May 2014 – ISSN 2349-0942, PP 25-37
  • Presented papers in National and International conferences, the details of which can be provided when required.





Book Chapters  



‘Working Capital Management for a New Start-up’  “The Contemporary Issues in Management: Cases & Caselets”,2016, The Virtue,  Hema Gwalani, Dr.D.B.Bharati ISBN NO 978-93-5212-116-8, Page no. 31


Investment Decision “The Contemporary Issues in Management: Cases & Caselets”, 2016, The Virtue,  Hema Gwalani, Dr.D.B.Bharati ISBN NO 978-93-5212-116-8 Page no. 133-134


Interpretation of Financial Statements “The Contemporary Issues in Management: Cases & Caselets”, 2016, The Virtue, Hema Gwalani, Dr.D.B.Bharati, ISBN NO 978-93-5212-116-8 Page no. 143-144




Case Studies Published

Research in Progress : Financial Statement analysis and Investor attributes.

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