phd in finance uk

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PhD/ MPhil/ MSc Finance (Research)

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The PhD/MPhil/MSc in Finance comprises a short taught component followed by a longer research phase. Taught modules allow you to broaden, as well as deepen, your knowledge of research methods as well as conducting your own research and developing transferable professional skills.

The PhD programme in Finance will facilitate the creation and interpretation of new knowledge by the research student, demonstrated through the thesis. The taught component is designed to ensure that doctoral researchers understand the breath of techniques used in modern social science research.

Doctoral researchers will be capable of analysing a range of data using a range of qualitative and quantitative techniques. They will be able to explain theories underlying different approaches to social science research. Doctoral researchers are expected to participate to the fullest possible extent in the life of the Department of Finance and the Business School. This means attending seminars organised by the Department of Finance and more widely in the Business School thereby helping expose doctoral researchers to new ideas emanating from outside their own area of specialisation. It also requires actively participating in PhD workshops and conferences organised by the Department of Finance, the Business School and Graduate School as well as institutions outside the University of Birmingham.

Ultimately all doctoral researchers will have the ability to characterise and solve business and financial problems using advanced research tools. They should be able to derive policy implications from their research and communicate these to policy makers, practitioners and other academics in a manner which is comprehensible. They will also be able to peer review others’ research and offer constructive criticism; and to extend the frontiers of the discipline through their own innovative research.

Doctoral researchers may choose to become academics, work in Government, businesses, supranational organisations or in the research arms of major financial institutions. They are expected to achieve a substantial understanding of contemporaneous financial and business issues enabling them to take a lead in ongoing debates within society. They will be aware of and understand the function of related institutions at both a national and international level.

Fees 2024 - 2025

• Code: 021B - £4,778 (UK) PhD Full time
• Code: 022B - £2,389 (UK) PhD Part time
• Code: 021B - £23,520 (International) PhD Full time
• Code: 023B - £4,778 (UK) MPhil
• Code: 023B - £23,520 (International) MPhil
• Code: 045B - £4,778 (UK) MSc (Research)
• Code 045B - £23,520 (International) MSc (Research)

Learn more about fees and funding

Scholarships and studentships

A limited number of scholarships may be available to outstanding applicants. International students  can often gain funding through overseas research scholarships, Commonwealth scholarships or their home Government.

For further information contact the School directly or visit our helpdesk.

How To Apply

• How to apply

To apply for a postgraduate research programme, you will need to submit your application and supporting documents online. We have put together some helpful information on the research programme application process and supporting documents on our how to apply page . Please read this information carefully before completing your application.

Our Standard Requirements

The Business School's entry requirement is a good honours degree (first or upper second class honours) awarded by a recognised University in an appropriate subject, and a merit in a relevant Master’s degree. We usually ask students for an average of 65 in the taught component of their Masters. All international students also need to show that they have adequate knowledge of written and spoken English.

Learn more about our entry requirements.

Writing your research proposal

Along with your academic record, your references and your curriculum vitae your research proposal plays a critical role in the evaluation of your application.

Your research proposal should illustrate your ability to plan an independent research study and the relevance of your topic to the research interests and expertise of Birmingham Business School.You need to demonstrate that you understand the field that you plan to research, identify an interesting and original research question, and develop a tentative plan of study. It is highly desirable that your research proposal is written to the guidelines specified below.

Guidelines for the Research Proposal

When clicking on the Apply Now button you will be directed to an application specifically designed for the programme you wish to apply for where you will create an account with the University application system and submit your application and supporting documents online. Further information regarding how to apply online can be found on the how to apply pages.

International Requirements

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a GPA of 14/20 from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Holders of the Licenciado or an equivalent professional title from a recognised Argentinian university, with a promedio of at least 7.5, may be considered for entry to a postgraduate degree programme. Applicants for PhD degrees will normally have a Maestria or equivalent

Applicants who hold a Masters degree will be considered for admission to PhD study.

Holders of a good four-year Diplomstudium/Magister or a Masters degree from a recognised university with a minimum overall grade of 2.5 will be considered for entry to postgraduate research programmes.

Students with a good 5-year Specialist Diploma or 4-year Bachelor degree from a recognised higher education institution in Azerbaijan, with a minimum GPA of 4/5 or 80% will be considered for entry to postgraduate taught programmes at the University of Birmingham.

For postgraduate research programmes applicants should have a good 5-year Specialist Diploma (completed after 1991), with a minimum grade point average of 4/5 or 80%, from a recognised higher education institution or a Masters or “Magistr Diplomu” or “Kandidat Nauk” from a recognised higher education institution in Azerbaijan.

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a GPA of 3.0/4.0 or 75% from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with a CGPA of 3.0-3.3/4.0 or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Students who hold a Masters degree from the University of Botswana with a minimum GPA of 3.0/4.0 or 3.5/5.0 (70%/B/'very good') will be considered for Postgraduate Diplomas and Masters degrees.

Please note 4-year bachelor degrees from the University of Botswana are considered equivalent to a Diploma of Higher Education. 5-year bachelor degrees from the University of Botswana are considered equivalent to a British Bachelor (Ordinary) degree.

Students who have completed a Masters degree from a recognised institution will be considered for PhD study.

A Licenciatura or Bacharelado degree from a recognised Brazilian university:

• A grade of 7.5/10 for entry to programmes with a 2:1 requirement
• A grade of 6.5/10for entry to programmes with a 2:2 requirement

Holders of a good Bachelors degree with honours (4 to 6 years) from a recognised university with a upper second class grade or higher will be considered for entry to taught postgraduate programmes.  Holders of a good Masters degree from a recognised university will be considered for entry to postgraduate research programmes.

Holders of a good post-2001 Masters degree from a recognised university will be considered for entry to postgraduate research programmes.

Students with a minimum average of 14 out of 20 (or 70%) on a 4-year Licence, Bachelor degree or Diplôme d'Etudes Superieures de Commerce (DESC) or Diplôme d'Ingénieur or a Maîtrise will be considered for Postgraduate Diplomas and Masters degrees.

Holders of a bachelor degree with honours from a recognised Canadian university may be considered for entry to a postgraduate degree programme. A GPA of 3.0/4, 7.0/9 or 75% is usually equivalent to a UK 2.1.

Holders of the Licenciado or equivalent Professional Title from a recognised Chilean university will be considered for Postgraduate Diplomas and Masters degrees. Applicants for PhD study will preferably hold a Magister degree or equivalent.

Students with a bachelor’s degree (4 years minimum) may be considered for entry to a postgraduate degree programme. However please note that we will only consider students who meet the entry guidance below.  Please note: for the subject areas below we use the Shanghai Ranking 2022 (full table)  ,  Shanghai Ranking 2023 (full table) , and Shanghai Ranking of Chinese Art Universities 2023 .

需要具备学士学位（4年制）的申请人可申请研究生课程。请根据所申请的课程查看相应的入学要求。 请注意，中国院校名单参考 软科中国大学排名2022（总榜） ，  软科中国大学排名2023（总榜） ，以及 软科中国艺术类高校名单2023 。  

Business School    - MSc programmes (excluding MBA)  

商学院硕士课程（MBA除外）入学要求

School of Computer Science – all MSc programmes 计算机学院硕士课程入学要求

College of Social Sciences – courses listed below 社会科学 学院部分硕士课程入学要求 MA Education  (including all pathways) MSc TESOL Education MSc Public Management MA Global Public Policy MA Social Policy MA Sociology Department of Political Science and International Studies  全部硕士课程 International Development Department  全部硕士课程

  All other programmes (including MBA)   所有其他 硕士课程（包括 MBA）入学要求

Please note:

• Borderline cases: We may consider students with lower average score (within 5%) on a case-by-case basis if you have a relevant degree and very excellent grades in relevant subjects and/or relevant work experience. 如申请人均分低于相应录取要求（5%以内），但具有出色学术背景，优异的专业成绩，以及（或）相关的工作经验，部分课程将有可能单独酌情考虑。
• Please contact the China Recruitment Team for any questions on the above entry requirements. 如果您对录取要求有疑问，请联系伯明翰大学中国办公室   [email protected]

Holders of the Licenciado/Professional Title from a recognised Colombian university will be considered for our Postgraduate Diploma and Masters degrees. Applicants for PhD degrees will normally have a Maestria or equivalent.

Holders of a good bachelor degree with honours (4 to 6 years) from a recognised university with a upper second class grade or higher will be considered for entry to taught postgraduate programmes.  Holders of a good Masters degree from a recognised university will be considered for entry to postgraduate research programmes.

Holders of a good Bacclaureus (Bachelors) from a recognised Croatian Higher Education institution with a minimum overall grade of 4.0 out of 5.0, vrlo dobar ‘very good’, or a Masters degree, will be considered for entry to postgraduate research programmes.

Holders of a Bachelors degree(from the University of the West Indies or the University of Technology) may be considered for entry to a postgraduate degree programme. A Class II Upper Division degree is usually equivalent to a UK 2.1. For further details on particular institutions please refer to the list below.  Applicants for PhD level study will preferably hold a Masters degree or Mphil from the University of the West Indies.

Applicants for postgraduate research programmes should hold a good Bachelors degree from a recognised institution with a minimum overall grade of 6.5 out of 10, or a GPA of 3 out of 4, and will usually be required to have completed a good Masters degree to be considered for entry to postgraduate research programmes. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Bakalár from a recognised Czech Higher Education institution with a minimum overall grade of 1.5, B, velmi dobre ‘very good’ (post-2004) or 2, velmi dobre ‘good’ (pre-2004), or a good post-2002 Magistr (Masters), will be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a good Bachelors degree from a recognised institution with a minimum overall grade of 7-10 out of 12 (or 8 out of 13) or higher for 2:1 equivalence and will usually be required to have completed a good Masters/ Magisterkonfereus/Magister Artium degree to be considered for entry to postgraduate research programmes. Applicants with lower grades than this may be considered on an individual basis.

Holders of the Licenciado or an equivalent professional title from a recognised Ecuadorian university may be considered for entry to a postgraduate degree programme. Grades of 70% or higher can be considered as UK 2.1 equivalent.  Applicants for PhD level study will preferably hold a Magister/Masterado or equivalent qualification, but holders of the Licenciado with excellent grades can be considered.

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a GPA of 3.0/4.0 or 75% from a recognised institution. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Bakalaurusekraad from a recognised university with a minimum overall grade of 4/5 or B, or a good one- or two-year Magistrikraad from a recognised university, will be considered for entry to postgraduate research programmes.

Students who hold a Masters degree with very good grades (grade B, 3.5/4 GPA or 85%) will be considered for Postgraduate Diplomas and Masters degrees. 

Holders of a good Kandidaatti / Kandidat (old system), a professional title such as Ekonomi, Diplomi-insinööri, Arkkitehti, Lisensiaatti (in Medicine, Dentistry and Vetinary Medicine), or a Maisteri / Magister (new system), Lisensiaatti / Licenciat, Oikeustieteen Kandidaatti / Juris Kandidat (new system) or Proviisori / Provisor from a recognised Finnish Higher Education institution, with a minimum overall grade of 2/3 or 4/5, will be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a should hold a Bachelors degree and will usually be required to have completed a Masters/Maîtrise with a minimum overall grade of 13 out of 20, or a Magistère / Diplôme d'Etudes Approfondies / Diplôme d'Etudes Supérieures Specialisées / Mastère Specialis, from a recognised French university or Grande École to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of a Magister Artium, a Diplom or an Erstes Staatsexamen from a recognised university with a minimum overall grade of 2.5, or a good two-year Lizentiat / Aufbaustudium / Zweites Staatsexamen or a Masters degree from a recognised university, will be considered for entry to postgraduate research programmes.

Students who hold a Bachelor degree from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees. Most taught Masters programmes require a minimum of an upper second class degree (2.1) with a minimum GPA of at least 3.0/4.0 or 3.5/5.0 Students who have completed a Masters degree from a recognised institution will be considered for PhD study.

Applicants for postgraduate research programmes should hold a good four-year Ptychio (Bachelor degree) with a minimum overall grade of 6.5 out of 10, from a recognised Greek university (AEI), and will usually be required to have completed a good Metaptychiako Diploma Eidikefsis (Masters degree) from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

4-year Licenciado is deemed equivalent to a UK bachelors degree. A score of 75 or higher from Universidad de San Carlos de Guatemala (USAC) can be considered comparable to a UK 2.1, 60 is comparable to a UK 2.2.  Private universities have a higher pass mark, so 80 or higher should be considered comparable to a UK 2.1, 70 is comparable to a UK 2.2

The Hong Kong Bachelor degree is considered comparable to British Bachelor degree standard. Students with bachelor degrees awarded by universities in Hong Kong may be considered for entry to one of our postgraduate degree programmes.

Students with Masters degrees may be considered for PhD study.

Holders of a good Alapfokozat / Alapképzés or Egyetemi Oklevel from a recognised university with a minimum overall grade of 3.5, or a good Mesterfokozat (Masters degree) or Egyetemi Doktor (university doctorate), will be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with a 60% or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of the 4 year Sarjana (S1) from a recognised Indonesian institution will be considered for postgraduate study. Entry requirements vary with a minimum requirement of a GPA of 2.8.

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a score of 14/20 or 70% from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree from a recognised institution, with 100 out of 110 or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Students who hold the Maitrise, Diplome d'Etude Approfondies, Diplome d'Etude Superieures or Diplome d'Etude Superieures Specialisees will be considered for Postgraduate Diplomas and Masters degrees (14-15/20 or Bien from a well ranked institution is considered comparable to a UK 2.1, while a score of 12-13/20 or Assez Bien is considered comparable to a UK 2.2).

Students with a Bachelor degree from a recognised university in Japan will be considered for entry to a postgraduate Masters degree provided they achieve a sufficiently high overall score in their first (Bachelor) degree. A GPA of 3.0/4.0 or a B average from a good Japanese university is usually considered equivalent to a UK 2:1.

Students with a Masters degree from a recognised university in Japan will be considered for PhD study. A high overall grade will be necessary to be considered.

Students who have completed their Specialist Diploma Мамаң дипломы/Диплом специалиста) or "Magistr" (Магистр дипломы/Диплом магистра) degree (completed after 1991) from a recognised higher education institution, with a minimum GPA of 2.67/4.00 for courses requiring a UK lower second and 3.00/4.00 for courses requiring a UK upper second class degree, will be considered for entry to postgraduate Masters degrees and, occasionally, directly for PhD degrees.  Holders of a Bachelor "Bakalavr" degree (Бакалавр дипломы/Диплом бакалавра) from a recognised higher education institution, with a minimum GPA of  2.67/4.00 for courses requiring a UK lower second and 3.00/4.00 for courses requiring a UK upper second class degree, may also be considered for entry to taught postgraduate programmes.

Students who hold a Bachelor degree from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees. Most taught Masters programmes require a minimum of an upper second class degree (2.1) with a minimum GPA of at least 3.0/4.0 or 3.5/50

Holders of a good Postgraduate Diploma (professional programme) from a recognised university or institution of Higher Education, with a minimum overall grade of 7.5 out of 10, or a post-2000 Magistrs, will be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a score of 16/20 or 80% from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Holders of a Bachelors degree from a recognised university in Libya will be considered for postgraduate study. Holders of a Bachelors degree will normally be expected to have achieved score of 70% for 2:1 equivalency or 65% for 2:2 equivalency. Alternatively students will require a minimum of 3.0/4.0 or BB to be considered.

Holders of a good pre-2001 Magistras from a recognised university with a minimum overall grade of 8 out of 10, or a good post-2001 Magistras, will be considered for entry to postgraduate research programmes

Holders of a good Bachelors degree from a recognised Luxembourgish Higher Education institution with a minimum overall grade of 16 out of 20, or a Diplôme d'Études Supérieures Spécialisées (comparable to a UK PGDip) or Masters degree from a recognised Luxembourgish Higher Education institution will be considered for entry to postgraduate research programmes.

Students who hold a Masters degree will be considered for Postgraduate Diplomas and Masters degrees (70-74% or A or Marginal Distinction from a well ranked institution is considered comparable to a UK 2.1, while a score of 60-69% or B or Bare Distinction/Credit is considered comparable to a UK 2.2).

Holders of a Bachelors degree from a recognised Malaysian institution (usually achieved with the equivalent of a second class upper or a grade point average minimum of 3.0) will be considered for postgraduate study at Diploma or Masters level.

Holders of a good Bachelors degree from the University of Malta with a minimum grade of 2:1 (Hons), and/or a Masters degree, will be considered for entry to postgraduate research programmes.

Students who hold a Bachelor degree (Honours) from a recognised institution (including the University of Mauritius) will be considered for Postgraduate Diplomas and Masters degrees.  Most taught Masters programmes require a minimum of an upper second class degree (2:1).

Students who hold the Licenciado/Professional Titulo from a recognised Mexican university with a promedio of at least 8 will be considered for Postgraduate Diplomas and Masters degrees.

Students who have completed a Maestria from a recognised institution will be considered for PhD study.

Applicants for postgraduate research programmes should hold a Bachelors degree, licence or Maîtrise and a Masters degree, with a score of 14/20 or 70% from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Students with a good four year honours degree from a recognised university will be considered for postgraduate study at the University of Birmingham. PhD applications will be considered on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with 60-74% or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Doctoraal from a recognised Dutch university with a minimum overall grade of 7 out of 10, and/or a good Masters degree, will be considered for entry to postgraduate research programmes.

Students who hold a Bachelor degree (minimum 4 years and/or level 400) from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees.  Most taught Masters programmes require a minimum of an upper second class degree (2.1) with a minimum GPA of at least 3.0/4.0 or 3.5/5.0

Applicants for postgraduate research programmes should hold a good Bachelors degree from a recognised institution with a minimum GPA of B/Very Good or 1.6-2.5 for a 2.1 equivalency, and will usually be required to have completed a good Masters, Mastergrad, Magister. Artium, Sivilingeniør, Candidatus realium or Candidatus philologiae degree to be considered for entry to postgraduate research programmes. Applicants with lower grades than this may be considered on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with a CGPA of 3.0/4 or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of a Bachelors degree from a recognised university in the Palestinian Territories will be considered for postgraduate study. Holders of Bachelors degree will normally be expected to have achieved a GPA of 3/4 or 80% for 2:1 equivalency or a GPA of 2.5/4 or 70% for 2:2 equivalency.    

Holders of the Título de Licenciado /Título de (4-6 years) or an equivalent professional title from a recognised Paraguayan university may be considered for entry to a postgraduate degree programme. Grades of 4/5 or higher can be considered as UK 2.1 equivalent.  The Título Intermedio is a 2-3 year degree and is equivalent to a HNC, it is not suitable for postgraduate entry but holders of this award could be considered for second year undergraduate entry or pre-Masters.  Applicants for PhD level study will preferably hold a Título de Maestría / Magister or equivalent qualification, but holders of the Título/Grado de Licenciado/a with excellent grades can be considered.

Holders of the Licenciado, with at least 13/20 may be considered as UK 2.1 equivalent. The Grado de Bachiller is equivalent to an ordinary degree, so grades of 15+/20 are required.  Applicants for PhD level study will preferably hold a Título de Maestría or equivalent qualification.

Holders of a good pre-2001 Magister from a recognised Polish university with a minimum overall grade of 4 out of 5, dobry ‘good’, and/or a good Swiadectwo Ukonczenia Studiów Podyplomowych (Certificate of Postgraduate Study) or post-2001 Magister from a recognised Polish university with a minimum overall grade of 4.5/4+ out of 5, dobry plus 'better than good', will be considered for entry to postgraduate research programmes.

Holders of a good Licenciado from a recognised university, or a Diploma de Estudos Superiores Especializados (DESE) from a recognised Polytechnic Institution, with a minimum overall grade of 16 out of 20, and/or a good Mestrado / Mestre (Masters) from a recognised university, will be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a good Bachelors degree from a recognised Romanian Higher Education institution with a minimum overall grade of 8 out of 10, and will usually be required to have completed a Masters degree/Diploma de Master/Diploma de Studii Academice Postuniversitare (Postgraduate Diploma - Academic Studies) or Diploma de Studii Postuniversitare de Specializare (Postgraduate Diploma - Specialised Studies) to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Диплом Специалиста (Specialist Diploma) or Диплом Магистра (Magistr) degree from recognised universities in Russia (minimum GPA of 4.0) will be considered for entry to taught postgraduate programmes/PhD study.

Students who hold a 4-year Bachelor degree with at least 16/20 or 70% will be considered for Postgraduate Diplomas and Masters degrees.   

Students who hold a Maitrise, Diplome d'Etude Approfondies,Diplome d'Etude Superieures or Diplome d'Etude Superieures Specialisees will be considered for Postgraduate Diplomas and Masters degrees. A score of 14-15/20 or Bien from a well ranked institution is considered comparable to a UK 2.1, while a score of 12-13/20 or Assez Bien is considered comparable to a UK 2.2

Students who hold a Bachelor (Honours) degree from a recognised institution with a minimum GPA of 3.0/4.0 or 3.5/5.0 (or a score of 60-69% or B+) from a well ranked institution will be considered for most our Postgraduate Diplomas and Masters degrees with a 2:1 requirement.

Students holding a good Bachelors Honours degree will be considered for postgraduate study at Diploma or Masters level.

Holders of a good three-year Bakalár or pre-2002 Magister from a recognised Slovakian Higher Education institution with a minimum overall grade of 1.5, B, Vel’mi dobrý ‘very good’, and/or a good Inžinier or a post-2002 Magister from a recognised Slovakian Higher Education institution will be considered for entry to postgraduate research programmes.

Holders of a good Diploma o pridobljeni univerzitetni izobrazbi (Bachelors degree), Diplomant (Professionally oriented first degree), Univerzitetni diplomant (Academically oriented first degree) or Visoko Obrazovanja (until 1999) from a recognised Slovenian Higher Education institution with a minimum overall grade of 8.0 out of 10, and/or a good Diploma specializacija (Postgraduate Diploma) or Magister (Masters) will be considered for entry to postgraduate research programmes.

Students who hold a Bachelor Honours degree (also known as Baccalaureus Honores / Baccalaureus Cum Honoribus) from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees. Most Masters programmes will require a second class upper (70%) or a distinction (75%).

Holders of a Masters degree will be considered for entry to postgraduate research programmes.

Holders of a Bachelor degree from a recognised South Korean institution (usually with the equivalent of a second class upper or a grade point average 3.0/4.0 or 3.2/4.5) will be considered for Masters programmes.

Holders of a good Masters degree from a recognised institution will be considered for PhD study on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with 7 out of 10 or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with 60-74% or a CGPA 3.30/4.0 or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Kandidatexamen (Bachelors degree) or Yrkesexamen (Professional Bachelors degree) from a recognised Swedish Higher Education institution with the majority of subjects with a grade of VG (Val godkänd), and/or a good Magisterexamen (Masters degree), International Masters degree or Licentiatexamen (comparable to a UK Mphil), will be considered for entry to postgraduate research programmes.

Holders of a good "PostGraduate Certificate" or "PostGraduate Diploma" or a Masters degree from a recognised Swiss higher education institution (with a minimum GPA of 5/6 or 8/10 or 2/5 (gut-bien-bene/good) for a 2.1 equivalence) may be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a GPA of 3.0/4.0, 3.5/5 or 75% from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Bachelor degree (from 75% to 85% depending upon the university in Taiwan) from a recognised institution will be considered for postgraduate Masters study. Holders of a good Masters degree from a recognised institution will be considered for PhD study.

Students who hold a Bachelor degree from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees.  Most taught Masters programmes require a minimum of an upper second class degree (2.1) Students who have completed a Masters degree from a recognised institution will be considered for PhD study.

Holders of a good Masters degree from a recognised institution will be considered for entry to our postgraduate research programmes.

Holders of a good Masters degree or Mphil from a recognised university will be considered for entry to postgraduate research programmes.

Students with a Bachelors degree from the following universities may be considered for entry to postgraduate programmes:

• Ateneo de Manila University - Quezon City
• De La Salle University - Manila
• University of Santo Tomas
• University of the Philippines - Diliman

Students from all other institutions with a Bachelors and a Masters degree or relevant work experience may be considered for postgraduate programmes.

Grading Schemes

1-5 where 1 is the highest 2.1 = 1.75 2.2 = 2.25 

Out of 4.0 where 4 is the highest 2.1 = 3.0 2.2 = 2.5

Letter grades and percentages 2.1 = B / 3.00 / 83% 2.2 = C+ / 2.5 / 77%

Holders of a postdoctoral qualification from a recognised institution will be considered for PhD study.  Students may be considered for PhD study if they have a Masters from one of the above listed universities.

Holders of a Lisans Diplomasi with a minimum grade point average (GPA) of 3.0/4.0 from a recognised university will be considered for postgraduate study at Diploma or Masters level.

Holders of a Yuksek Diplomasi from a recognised university will be considered for PhD study.

Students who hold a Bachelor degree from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees. Most Masters programmes will require a second class upper (2.1) or GPA of 3.5/5.0

Applicants for postgraduate research programmes should hold a good Bachelors degree / Диплом бакалавра (Dyplom Bakalavra), Диплом спеціаліста (Specialist Diploma) or a Dyplom Magistra from a recognised Ukrainian higher education institution with a minimum GPA of 4.0/5.0, 3.5/4, 8/12 or 80% or higher for 2:1 equivalence and will usually be required to have completed a good Masters degree to be considered for entry to postgraduate research programmes. Applicants with lower grades than this may be considered on an individual basis.

The University will consider students who hold an Honours degree from a recognised institution in the USA with a GPA of:

• 2.8 GPA (on a 4.0 scale) for entry to programmes with a 2:2 requirement 
• 3.2 GPA (on a 4.0 scale) for entry to programmes with a 2:1 requirement 

Please note that some subjects which are studied at postgraduate level in the USA, eg. Medicine and Law, are traditionally studied at undergraduate level in the UK.

Holders of the Magistr Diplomi (Master's degree) or Diplomi (Specialist Diploma), awarded by prestigious universities, who have attained high grades in their studies will be considered for postgraduate study.  Holders of the Fanlari Nomzodi (Candidate of Science), where appropriate, will be considered for PhD study.

Holders of the Licenciatura/Título or an equivalent professional title from a recognised Venezuelan university may be considered for entry to a postgraduate degree programme. Scales of 1-5, 1-10 and 1-20 are used, an overall score of 70% or equivalent can be considered equivalent to a UK 2.1.  Applicants for PhD level study will preferably hold a Maestria or equivalent qualification

Holders of a Bachelors degree from a recognised Vietnamese institution (usually achieved with the equivalent of a second class upper or a grade point average minimum GPA of 7.0 and above) will be considered for postgraduate study at Diploma or Masters level.  Holders of a Masters degree (thac si) will be considered for entry to PhD programmes.

Students who hold a Masters degree with a minimum GPA of 3.5/5.0 or a mark of 2.0/2.5 (A) will be considered for Postgraduate Diplomas and Masters degrees.   

Students who hold a good Bachelor Honours degree will be considered for Postgraduate Diplomas and Masters degrees. 

International Students

English requirements are IELTS 7.0 with no less than 6.5 in any band or equivalent.

Members of the Department of Finance can offer supervision within the following areas.

Corporate Finance

Capital structure decision making including interactions between corporate investment and dividend/capital structure decisions. Issues relating to capital structure and firm performance and the study of agency costs. The examination of corporate events such as  stock repurchases, corporate restructuring, mergers and acquisitions ,IPOs, delistings and financial distress & bankruptcy. Entrepreneurial finance, debt and equity gaps, venture capital and private equity, financial flexibility in firms and R&D smoothing.

Capital  Markets

Within the field of capital markets we can offer supervision which examines debt maturity, and a wide range of market microstructure topics including those relating to liquidity and liquidity risk, market architecture and the trading environment, as well as microstructure effects associated with the international cross-listing of securities.  The use of derivatives for risk management. Islamic Finance. Institutional investment, portfolio investment, risk and investment volatility

Financial Regulation and Corporate Governance

Corporate governance – including shareholder voting, engagement, stock lending, communication within the board of directors, and board behaviour and performance, executive compensation. Agency conflicts. The use of the interbank market as a regulatory device, Basel III and new rules for global finance,.

Banking and Financial Services

Doctoral researchers in Finance are registered for a full time 3-year PhD or a part-time 6-year PhD. In the first year of the programme doctoral researchers are required to take Econometrics with Financial Applications module from the Department of Economics (30 credit module). They also need to take at least one of the existing MSc Investments and MSc Accounting and Finance courses and one other module to successfully complete 60 credits of study. The MSc module and one other appropriate M or D level module should be chosen in agreement with the doctorial researcher’s supervisor, as appropriate for the their research topic.  Modules available include: Financial Modelling and Forecasting Techniques (20 credits), Empirical Topics in Accounting and Finance (20 credits) and Quantitative Methods in Finance (10 credits). Doctoral researchers are also recommended to take Advanced Training Modules from the MA Social Research Programme or other modules (e.g. Qualitative Methods) as appropriate to their research and training needs.

By the end of their first year doctoral students will have completed an 8,000 word research proposal that they will present and be evaluated on at the first annual review. This forms the basis for supervised research over the remaining two years of the programme and the production of an 80,000 word thesis.

Career prospects

PhD graduates from Birmingham Business School are working in central banks, Government departments, a variety of financial institutions, accountancy firms, supranational organisations and multinational corporations. Many of our PhD graduates also go on to forge successful academic careers in other top Universities.

Doctoral Research career assistance

The University of Birmingham has invested heavily in careers and employability support. The Careers Team have been praised for enhanced developments within their team and for adopting a model of integrated employability and internship support; something that has been rolled out and implemented across all Schools and Colleges at the University.

Doctoral researchers at Birmingham Business School benefit from its own well qualified dedicated Careers Team to support students with employment opportunities, work placements, internships and how to succeed at interview. In addition, a range of career management, personal development and employer events are run each year by the Careers in Business Team to help you make the most of the opportunities available.

The University also has dedicated careers advisors for international students  who run workshops and networking opportunities with potential employers. These are especially popular with international postgraduate researchers.

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MRes/PhD Finance

• Graduate research
• Department of Finance
• Application code N4ZC
• Starting 2024
• Home full-time: Closed
• Overseas full-time: Closed
• Location: Houghton Street, London

This programme offers the chance to undertake a substantial piece of work that is worthy of publication and which makes an original contribution to the field of finance. You will begin on the MRes, and will need to meet certain requirements to progress to the PhD.

Our programme is unique in its integration of finance and economics. During the first year, you will take microeconomics, macroeconomics, and econometrics courses alongside PhD students in Economics. However, in the second year you will differentiate by taking advanced courses in asset pricing and corporate finance. You will leave with a broad understanding of finance and its relations to other fields in economics.

As one of the largest finance departments in the world, we are able to offer opportunities for research in virtually any field in finance. We have strengths in theory and empirics, asset pricing and corporate finance, as well as financial econometrics, behavioural finance, macro-finance, and microeconomic analysis of financial markets and institutions.

You are expected to participate in the regular departmental seminars (weekly), as well as occasional workshops and conferences given by internationally renowned speakers. This is viewed as an important part of the learning process on the MRes/PhD in Finance.

Programme details

For more information about tuition fees and entry requirements, see the fees and funding and assessing your application sections.

Entry requirements

Minimum entry requirements for mres/phd finance.

Merit in a taught master's degree in finance, economics or another subject with a strong quantitative component.

Competition for places at the School is high. This means that even if you meet our minimum entry requirement, this does not guarantee you an offer of admission. 

If you have studied or are studying outside of the UK then have a look at our  Information for International Students  to find out the entry requirements that apply to you.

GRE/GMAT requirement

GRE or GMAT is required from all applicants (GRE is preferred)

Find out more about GRE/GMAT

Assessing your application

We welcome applications for research programmes that complement the academic interests of members of staff at the School, and we recommend that you investigate  staff research interests  before applying. However, please do not get in touch with faculty at this stage, 

We carefully consider each application on an individual basis, taking into account all the information presented on your application form, including your:

• academic achievement (including existing and pending qualifications)
• statement of academic purpose 
• outline research proposal
• sample of written work.

See further information on supporting documents

You may also have to provide evidence of your English proficiency. You do not need to provide this at the time of your application to LSE, but we recommend that you do.  See our English language requirements .

When to apply

The application deadline for this programme is 25 April 2024 . However, to be considered for any LSE funding opportunity, you must have submitted your application and all supporting documents by the funding deadline. See the fees and funding section for more details.

Statement of Academic Purpose

Your Statement of Academic Purpose should clearly explain the below:

• Why you want to do research in finance
• How your studies and experience make you suitable to do research in finance

Research interests

Your Research Interests should be submitted in place of the Outline Research Proposal, along with your application form and other required supporting documents, via the LSE online application system.

• Which aspect of the PhD do you think you will like the most? Which will you dislike the most? Why? (max. 200 words)
• Tell us about your favourite paper in financial economics. What do you like about it? How would you improve it? (max. 400 words)
• Write a comment for a general audience on a topic/question that interests you in finance: (max. 400 words).
• Is CEO compensation excessive?
• Markets function well as information is aggregated efficiently through prices.
• What are the benefits of shareholder activism?

Fees and funding

Fees and funding.

Every research student is charged a fee in line with the fee structure for their programme.  The fee covers registration and examination fees payable to the School, lectures, classes and individual supervision, lectures given at other colleges under intercollegiate arrangements and, under current arrangements, membership of the Students' Union. It does not cover living costs or travel or fieldwork.

Tuition fees 2024/25 for MRes/PhD in Finance

Home students: £4,829 for the first year (provisional) Overseas students: £22,632 for the first year

The fee is likely to rise over subsequent years of the programme. The School charges home research students in line with the level of fee that the Research Councils recommend. The fees for overseas students are likely to rise in line with the assumed percentage increase in pay costs (ie, 4 per cent per annum).

The Table of Fees shows the latest tuition amounts for all programmes offered by the School.

The amount of tuition fees you will need to pay, and any financial support you are eligible for, will depend on whether you are classified as a home or overseas student, otherwise known as your fee status. LSE assesses your fee status based on guidelines provided by the Department of Education.

Further information about fee status classification.

Scholarships and other funding

The School recognises that the  cost of living in London  may be higher than in your home town or country, and we provide generous scholarships each year to home and overseas students.

This programme is eligible for  LSE PhD Studentships , and  Economic and Social Research Council (ESRC) funding . Selection for the PhD Studentships and ESRC funding is based on receipt of an application for a place – including all ancillary documents, before the funding deadline.  

Funding deadline for LSE PhD Studentships and ESRC funding: 15 January 2024 Second funding deadline for LSE PhD Studentships: 25 April 2024

The Finance Department may also offer departmental scholarships.

In addition to our needs-based awards, LSE also makes available scholarships for students from specific regions of the world and awards for students studying specific subject areas.  Find out more about financial support.

External funding 

There may be other funding opportunities available through other organisations or governments and we recommend you investigate these options as well.

Further information

Fees and funding opportunities

Information for international students

LSE is an international community, with over 140 nationalities represented amongst its student body. We celebrate this diversity through everything we do.  

If you are applying to LSE from outside of the UK then take a look at our Information for International students . 

1) Take a note of the UK qualifications we require for your programme of interest (found in the ‘Entry requirements’ section of this page). 

2) Go to the International Students section of our website. 

3) Select your country. 

4) Select ‘Graduate entry requirements’ and scroll until you arrive at the information about your local/national qualification. Compare the stated UK entry requirements listed on this page with the local/national entry requirement listed on your country specific page.

Programme structure and courses

Programme structure and courses.

A PhD in Finance from LSE consists of six coursework units, completed over two years, followed by a thesis which is usually expected to take a further three or four years.

We encourage our research students to participate fully in the intellectual life of the Department, and in the research seminar and workshop programmes of the Department and related research centres such as the Financial Markets Group (FMG). The weekly Capital Markets Workshops provide exposure to the work of leading academics from the UK and overseas. In addition, the FMG hosts a number of conferences each year with leading researchers and practitioners.

Students will normally commence in late August, by attending an introductory course before the start of the academic year.

Introductory Course in Mathematics and Statistics Provides students with the essential mathematical, statistical, economic and econometric background for the core Economics courses of these programmes.

During their first year, students take courses in Advanced Microeconomics, Advanced Macroeconomics and Advanced Financial Econometrics to build their core knowledge in these areas. They will also take two transferable skills courses which are not examined.

There is also the option to attend non-examined research workshops or seminars in finance given by faculty and internationally renowned scholars. Students also attend a PhD seminar in Finance throughout their MRes/PhD studies.

Microeconomics for MRes Students Introduces the basic analytical tools that are necessary to conduct research in any field in economics.

Macroeconomics for MRes Students Covers topics in advanced macroeconomics with emphasis on fundamentals and applications to recent theoretical advances.

Econometrics for MRes students Covers probability, mathematical statistics, and asymptotic theory, and theory and application of regression analysis. Provides a survey of the theory and application of time series methods in econometrics.

Financial Economics This non-examined course provides an in-depth introduction to the theories of asset pricing and corporate finance.

Capital Markets Workshop   

Second year

Students take courses in Corporate Finance and Asset Pricing, in addition to completing a research paper. They are also expected to attend research workshops or seminars in finance given by faculty and internationally renowned scholars.

Corporate Finance for Research Students The first half of this course focuses on the theory of corporate finance. The second half of the course will consider empirical research in corporate finance.  

Asset Pricing for Research Students Covers asset pricing theory, empirical asset pricing, as well as empirical evaluation of asset-pricing models.

Research Paper in Finance A research paper of between 6,000 and 8,000 words, related to your designated major field, to be submitted at the end of August of the second year.

PhD Seminar in Finance A seminar course for PhD students in the early stages of their research to present their work in progress.

Capital Markets Workshop

PhD programme

After meeting the progression requirements, students progress to PhD registration and begin to work on their thesis

For the most up-to-date list of optional courses please visit the relevant   School Calendar page. 

You must note, however, that while care has been taken to ensure that this information is up to date and correct, a change of circumstances since publication may cause the School to change, suspend or withdraw a course or programme of study, or change the fees that apply to it. The School will always notify the affected parties as early as practicably possible and propose any viable and relevant alternative options. Note that the School will neither be liable for information that after publication becomes inaccurate or irrelevant, nor for changing, suspending or withdrawing a course or programme of study due to events outside of its control, which includes but is not limited to a lack of demand for a course or programme of study, industrial action, fire, flood or other environmental or physical damage to premises. 

You must also note that places are limited on some courses and/or subject to specific entry requirements. The School cannot therefore guarantee you a place. Please note that changes to programmes and courses can sometimes occur after you have accepted your offer of a place. These changes are normally made in light of developments in the discipline or path-breaking research, or on the basis of student feedback. Changes can take the form of altered course content, teaching formats or assessment modes. Any such changes are intended to enhance the student learning experience. You should visit the School’s  Calendar , or contact the relevant academic department, for information on the availability and/or content of courses and programmes of study. Certain substantive changes will be listed on the  updated graduate course and programme information  page.

Supervision, progression and assessment

Supervision.

You will be assigned a lead supervisor (and a second supervisor/adviser) who is a specialist in your chosen research field, though not necessarily in your topic. Lead supervisors guide you through your studies.

Progression and assessment

To progress at the end of each year, students must pass their examined courses at grades specified by the Department and make satisfactory progress in their research. Progress is regularly monitored by the Department's Postgraduate Assessment Review Panel.

You will also need to meet certain criteria to progress to PhD registration, such as achieving certain grades in your coursework, and earning a minimum mark on your research paper.

Your final award will be determined by the completion of an original research thesis and a viva oral examination.

More about progression requirements.  

Student support and resources

We’re here to help and support you throughout your time at LSE, whether you need help with your academic studies, support with your welfare and wellbeing or simply to develop on a personal and professional level.

Whatever your query, big or small, there are a range of people you can speak to who will be happy to help.  

Department librarians   – they will be able to help you navigate the library and maximise its resources during your studies. 

Accommodation service  – they can offer advice on living in halls and offer guidance on private accommodation related queries.

Class teachers and seminar leaders  – they will be able to assist with queries relating to specific courses. 

Disability and Wellbeing Service  – they are experts in long-term health conditions, sensory impairments, mental health and specific learning difficulties. They offer confidential and free services such as  student counselling,  a  peer support scheme  and arranging  exam adjustments.  They run groups and workshops.  

IT help  – support is available 24 hours a day to assist with all your technology queries.   

LSE Faith Centre  – this is home to LSE's diverse religious activities and transformational interfaith leadership programmes, as well as a space for worship, prayer and quiet reflection. It includes Islamic prayer rooms and a main space for worship. It is also a space for wellbeing classes on campus and is open to all students and staff from all faiths and none.   

Language Centre  – the Centre specialises in offering language courses targeted to the needs of students and practitioners in the social sciences. We offer pre-course English for Academic Purposes programmes; English language support during your studies; modern language courses in nine languages; proofreading, translation and document authentication; and language learning community activities.

LSE Careers  ­ – with the help of LSE Careers, you can make the most of the opportunities that London has to offer. Whatever your career plans, LSE Careers will work with you, connecting you to opportunities and experiences from internships and volunteering to networking events and employer and alumni insights. 

LSE Library   –   founded in 1896, the British Library of Political and Economic Science is the major international library of the social sciences. It stays open late, has lots of excellent resources and is a great place to study. As an LSE student, you’ll have access to a number of other academic libraries in Greater London and nationwide. 

LSE LIFE  – this is where you should go to develop skills you’ll use as a student and beyond. The centre runs talks and workshops on skills you’ll find useful in the classroom; offers one-to-one sessions with study advisers who can help you with reading, making notes, writing, research and exam revision; and provides drop-in sessions for academic and personal support. (See ‘Teaching and assessment’). 

LSE Students’ Union (LSESU)  – they offer academic, personal and financial advice and funding.  

PhD Academy   – this is available for PhD students, wherever they are, to take part in interdisciplinary events and other professional development activities and access all the services related to their registration. 

Sardinia House Dental Practice   – this   offers discounted private dental services to LSE students.  

St Philips Medical Centre  – based in Pethwick-Lawrence House, the Centre provides NHS Primary Care services to registered patients.

Student Services Centre  – our staff here can answer general queries and can point you in the direction of other LSE services.  

Student advisers   – we have a  Deputy Head of Student Services (Advice and Policy)  and an  Adviser to Women Students  who can help with academic and pastoral matters.

Student life

As a student at LSE you’ll be based at our central London campus. Find out what our campus and London have to offer you on academic, social and career perspective. 

Student societies and activities

Your time at LSE is not just about studying, there are plenty of ways to get involved in  extracurricular activities . From joining one of over 200 societies, or starting your own society, to volunteering for a local charity, or attending a public lecture by a world-leading figure, there is a lot to choose from. 

The campus 

LSE is based on one  campus  in the centre of London. Despite the busy feel of the surrounding area, many of the streets around campus are pedestrianised, meaning the campus feels like a real community. 

Life in London 

London is an exciting, vibrant and colourful city. It's also an academic city, with more than 400,000 university students. Whatever your interests or appetite you will find something to suit your palate and pocket in this truly international capital. Make the most of career opportunities and social activities, theatre, museums, music and more. 

Want to find out more? Read why we think  London is a fantastic student city , find out about  key sights, places and experiences for new Londoners . Don't fear, London doesn't have to be super expensive: hear about  London on a budget . 

The programme is aimed at training students to become an academic. Students who successfully complete the programme often embark on a career in academic institutions, or international organisations such as central banks or the IMF. See a list of past placements.

Further information on graduate destinations for this programme

Support for your career

LSE Careers has a wide range of resources available to assist students in their job search. Find out more about the  support available to students through LSE Careers .

Find out more about LSE

Discover more about being an LSE student - meet us in a city near you, visit our campus or experience LSE from home. 

Experience LSE from home

Webinars, videos, student blogs and student video diaries will help you gain an insight into what it's like to study at LSE for those that aren't able to make it to our campus.  Experience LSE from home . 

Come on a guided campus tour, attend an undergraduate open day, drop into our office or go on a self-guided tour.  Find out about opportunities to visit LSE . 

LSE visits you

Student Marketing, Recruitment and Study Abroad travels throughout the UK and around the world to meet with prospective students. We visit schools, attend education fairs and also hold Destination LSE events: pre-departure events for offer holders.  Find details on LSE's upcoming visits . 

How to apply

Virtual Graduate Open Day

Register your interest

Related programmes, mres/phd economics.

Code(s) L1U4

MSc Finance and Economics

Code(s) LN43

MPhil/PhD Statistics

Code(s) G4ZS

MRes/PhD Accounting (Accounting, Organisations and Institutions)

Code(s) N2ZD (AOI track)

MPhil/PhD Social Research Methods

Code(s) L9ZM

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UCL School of Management

University college london, phd programme in financial economics.

Start date:  September 2024 Duration: 5 years (1 year MRes + 4 years PhD) Fees:  We offer fully-funded scholarships to all admitted students who have applied by the 31 January 2024 (see details below)  Application deadline:  31 January 2024, 17:00 UK time (late applications submited by the 05 April 2024 may still be considered, see details below) Entry:  Applicants must hold a distinction in a master’s degree in Economics or a closely related subject. Applicants must demonstrate a high level of analytical and quantitative skills (such as in mathematics and statistics), evidenced by strong performance in relevant modules taken on previous degree programmes and/or through relevant standardised test performance (such as GRE Quantitative of at least 160). International students, please note that UCL’s English language requirement for this programme is a ‘ Level 2 ’ (IELTS and TOEFL are the preferred test, however others on the UCL recognised test list will be accepted if required) - further details regarding this can be found on the  UCL English Language Requirements  page.

The MRes and PhD in Financial Economics is a joint programme between the UCL Department of Economics and the UCL School of Management.

The MRes programme is the first year of the five-year integrated MRes/PhD programme in Financial Economics. The MRes programme will provide you with training in research methods together with an advanced understanding of financial economics, to enable you to conduct insightful and original PhD level research in financial economics. 

The MRes will firstly provide quantitative training in microeconomics, macroeconomics, econometrics, and finance. These will be taught in the context of cutting-edge research and relevant applications. Secondly, it will provide you with analytic frameworks and transferable skills that will allow you to identify relevant and promising research topics, present ideas in order to obtain feedback, and provide feedback yourself. 

The subsequent years (for students who progress from the MRes to MPhil) will focus on the skills you will need to run research projects to completion and to present completed research projects to various kinds of specialised audiences. Likewise, teaching skills will also be developed.

PhD Structure

• The MRes programme consists of taught modules (Microeconomics, Macroeconomics, Econometrics. Real Analysis and Probability with Economic Application), a hybrid module (Financial Economics) with taught components and research based components, and a research project in the final part of the year. For the MRes project, you work under supervision to design and carry out a substantial piece of original research. This enables you to gain a deep understanding of the entire research process.
• Superior performance is required for automatic progression from MRes to MPhil. In particular, students should achieve an average mark of not less than 60% in the independent, original research components of the programme, and not less than 50% in the taught element.
• Our highly selective and small-sized PhD programme ensures that each student receives personal attention and guidance from our faculty members throughout their doctoral study. The close mentorship process forms the foundations of a successful academic career. At the same time, you will be part of both the School of Management PhD cohort and the Economics PhD cohort, with which you will share most of the taught modules.
• We expect our PhD graduates to have as their goal an academic career as a faculty member in a top business school or Economics department or in the research group of an international institution or a central bank.

Students take a total of 180 credits in the MRes year. This is made up of the MRes Research Project (MSIN0135) and 75 credits of compulsory taught modules. 

All modules in the MRes year are core modules, there are no optional modules. 

• ECON0107 - Macroeconomics, 15 credits  
• ECON0106 - Microeconomics, 15 credits  
• ECON0108 - Econometrics, 15 credits  
• ECON0118 - Real Analysis and Probability with Economic Applications, 15 credits
• MSIN0234 - Topics in Financial Economics, 30 credits  
• MSIN0135 - MRes Financial Economics Research Project, 105 credits  

The programme is delivered through a combination of lectures, seminars, and class discussion. Student performance is assessed through presentations, coursework, projects, and examinations. 

Students will study 4 compulsory taught modules. A typical taught module is taught over two terms (2 x 10 weeks) with 4 hours of contact hours per week (3 hours of lecture + 1 hour of review session). In addition, students spend approximately 6-8 hours a week for each module on assessment and independent study to further develop the skills and knowledge covered in lectures and seminars.  

Students will also undertake a substantial research project, which would usually start in Term 2 and be completed over the Summer. The total number of weekly hours will vary according to the weekly activities being undertaken.

Why choose us

What makes us different:.

Unlike many PhD Programmes in finance, our programme has a full anchor in economics and econometrics. Hence, we offer a unique world-class environment that combines the best of a leading business school, located in Canary Wharf, the heart of London’s modern financial district, and the tradition of economic research and teaching of the Department of Economics, which is located in Bloomsbury, London’s historical intellectual centre.

If you want to become an academic economist conducting research in finance, this programme is for you.  

UCL School of Management and the Department of Economics  

Founded in 2007, UCL School of Management has forged a reputation for world-leading research in management studies with 95% of the School’s research deemed to be world-leading or internationally excellent, the second highest percentage of any business school in the UK, according to the 2021 REF . The PhD programme is an integral part of our School’s active and ambitious research environment where students receive rigorous academic training and personalised research mentorship. 

The UCL Department of Economics has an outstanding international reputation in key areas of current research. The Department ranked top in the UK for research environment and outputs in the field of Economics and Econometrics in the 2021 REF . 

Our research programme offers a unique education and research experience with the intent of preparing you for scholarly careers at the highest level. Our highly selective and small-sized programme ensures that you receive personal attention and an opportunity for guidance from our world-leading scholars. The close mentorship process forms the foundations of a successful academic career. 

As a research student you will join a highly active research environment which involves frequent research seminars and visits by leading scholars worldwide, reading groups, brown bag seminars and panels in which PhD students and faculty members present and discuss their ongoing work. Such forums provide an excellent opportunity to receive critical constructive feedback on your research and to develop academic, generic and transferable skills.

Applications

Applying for our mres/phd programme.

Entry requirements and admissions criteria:

Applicants to the MRes+PhD programme must hold a distinction in a master’s degree in Economics or a closely related subject. Applicants must demonstrate a high level of analytical and quantitative skills (such as in mathematics and statistics), evidenced by strong performance in relevant modules taken on previous degree programmes and/or through relevant standardised test performance (such as GRE Quantitative of at least 160). Submitting a GRE test result is encouraged but not compulsory and is only one of the components used to assess the strength of applications. 

We only have a single intake in September. We accept applications throughout the year. Successful candidates who have submitted their MRes application by 31 January 2024 will receive a scholarship (full fee waiver plus a stipend). Successful candidates who have submitted their application after this date may receive a scholarship subject to availability, or will come with their own funding.

In your personal statement you are expected to suggest one or more faculty members as potential supervisors. On the application form you may see that it states that it is preferred that you contact potential supervisors beforehand. However, we strongly discourage applicants from contacting individual faculty members or potential supervisors when applying to our programme. All applications are first evaluated by a joint admissions committee, so contacting potential supervisors separately will not increase your chances.

We also require you to submit IELTS or TOEFL scores if English is not your first language. Our School requires a “Level 2” English language qualification which corresponds to:

IELTS: Overall grade of 7.0 with a minimum of 6.5 in each of the sub-tests.

TOEFL: Score of 96 overall, plus 24/30 in the reading and writing subtests and 22/30 in the listening and speaking subtests. 

Application Deadline

The application window closes 31 January 2024 (17:00 UK time) and a late submission window closes on 05 April 2024 (17:00 UK time). We advise those interested in the programme to apply before 31 January 2024, as those applying in the late submission window will only be considered if there are still places remaining.

Application Procedure

Apply via UCL Postgraduate Admissions System here . When starting the application, you must select the MRes Financial Economics option. In addition to filling out the online application form, please upload a copy of the following documents:

• Official Transcripts of Grades / Course marks
• A 1 page personal statement that clearly indicates: (i) your research interests and preliminary research ideas, (ii) potential faculty member(s) you may want to work with (this is a suggested list, you don’t need to contact potential supervisors beforehand), and (iii) your motivation to do a PhD.
• Your  GRE  score report, if you took the test.
• Your IELTS/TOEFL score report, if English is not your first language.

Funding/Scholarships

We offer fully funded five year scholarships to all admitted students who apply before the 31 January 2024. The scholarship is open to all nationalities. It covers all tuition fees, and includes an annual stipend of £25,000 which is tax-free. 

Successful candidates who have submitted their application after 31 January 2024 may receive a scholarship subject to availability or will come with their own funding.

Additional Costs

This programme does not have any compulsory additional costs outside of purchasing books or stationery, printing, thesis binding or photocopying.  Students may have the opportunity to participate in conferences in the UK and internationally. The UCL School of Management provides MRes/PhD students with an annual budget for conferences, which students will use to cover the travel, accommodation, food and other costs whilst at conferences, in line with UCL’s expenses policy. 

Further Information and Contact Details

The full-time MRes/PhD programme runs from September each academic year. Entrance is therefore every September. While we may accept applications until 05 April 2024 we encourage candidates to apply as early as possible. Our programme is very selective and we only admit a limited number of students, so applying before 31 January 2024 increases your chances.

How to Apply

For queries about the MRes/PhD Programme that are not addressed on our web pages, please contact [email protected] .

Video Library

Frequently Asked Questions about the UCL School of Management MRes/PhD Programme

Programme Information

Application process, admissions requirements.

Students are required to possess a “Level 2” English language qualification if it is not their first language. This means: TOEFL: Score of 96, plus 24/30 in the reading and writing, and 22/30 in the listening and speaking subtests. IELTS: Overall grade of 7.0 with a minimum of 6.5 in each of the subtests.

Further Information

If you have any other questions regarding the programme that are not addressed on our web pages please email the programme team ( [email protected] )

Alternatively, use our A–Z index

Attend an open day

Discover more about postgraduate research

PhD Accounting and Finance / Overview

Year of entry: 2024

• View full page
• Bachelor's (Honours) degree at 2:1 or above (or overseas equivalent); and
• Master's degree in a relevant cognate subject - with an overall average of 70% or above (or overseas equivalent)
• Professional qualifications other than a Bachelors Degree and/or relevant and appropriate experience may be taken into account for entry to a PhD programme.

Full entry requirements

Apply online

Please ensure you include all required supporting documents at the time of submission, as incomplete applications may not be considered.

Application Deadlines

The current deadline for consideration in internal funding competitions is 15 March 2024.

If you are applying for or have secured external funding (for example, from an employer or government) or are self-funding, you must submit your application before the below deadline to be considered. You will not be able to apply after this date has passed.

• For September 2024 entry: 30 June 2024

Programme options

Programme overview.

• Develop leading research in Accounting and Finance.
• Join one of the world's most innovative and ambitious doctoral research schools.
• Ranked 3rd in the UK for research power in 'Business and Management Studies' (REF2021).

Please enable JavaScript to watch this video.

To find out what studying on a postgraduate research programme at Manchester is like, visit our Open days and study fairs page and explore our virtual open week or future on-campus and international events.

We will be conducting our Humanities PGR virtual open week in October 2024. Find out about future events and postgraduate research sessions by signing up to our email alerts.

For entry in the academic year beginning September 2024, the tuition fees are as follows:

• PhD (full-time) UK students (per annum): £4,786 International, including EU, students (per annum): £21,000
• PhD (part-time) UK students (per annum): £2,393 International, including EU, students (per annum): £10,500

Further information for EU students can be found on our dedicated EU page.

Scholarships/sponsorships

To apply University of Manchester funding, you must indicate in your application the competitions for which you wish to be considered. The current deadline for most internal competitions, including Alliance Manchester Business School studentships is 15 March 2024.

All external funding competitions have a specified deadline for submitting your funding application and a separate (earlier) deadline for submitting the online programme application form, both of which will be stated in the funding competition details below.

For more information about funding, visit our funding page to browse for scholarships, studentships and awards you may be eligible for.

• ESRC North West Social Science Doctoral Training Partnership (NWSSDTP) PhD Studentships - Competition Closed for 2024 Entry
• China Scholarship Council - The University of Manchester (CSC-UoM) Joint Scholarship Programme - Competition Closed for 2024 Entry
• Alliance Manchester Business School PhD Studentships 2024 Entry - Competition Closed for 2024 Entry
• President's Doctoral Scholar (PDS) Awards - Competition Closed for 2024 Entry
• Engineering and Physical Sciences Research Council Doctoral Training Partnership Studentship (EPSRC DTP)
• Commonwealth PhD Scholarships (High Income Countries)
• Humanities Doctoral Academy Humanitarian Scholarship 2024 Entry
• Commonwealth PhD Scholarships (Least Developed Countries and Fragile States)
• RADMA Doctoral Studies Funding 2024 Entry - Competition Closed for 2024 Entry
• PhD Scholarship for Research into Productivity

Contact details

Programmes in related subject areas.

Use the links below to view lists of programmes in related subject areas.

• Accounting and Finance

Regulated by the Office for Students

The University of Manchester is regulated by the Office for Students (OfS). The OfS aims to help students succeed in Higher Education by ensuring they receive excellent information and guidance, get high quality education that prepares them for the future and by protecting their interests. More information can be found at the OfS website .

You can find regulations and policies relating to student life at The University of Manchester, including our Degree Regulations and Complaints Procedure, on our regulations website .

DPhil Finance

Start date:

• 7 October 2024

Time commitment:

About the programme

Our doctoral training will immerse you in all aspects of academic life.

You will be both a student and a junior research colleague. We provide courses in a wide variety of research methods and you will work closely with your supervisors to define your research question and develop your thesis. You will also have opportunities to gain teaching and research assistant experience and become involved with the intellectual community within both Saïd Business School and the wider University. You will attend academic conferences, make presentations, organise lectures and seminars and contribute to management and academic decisions. Both of our doctoral programmes run in parallel, with only differences in taught courses and preparation for writing in relevant journals to your subject of choice. We have deliberately kept the programmes small which means that in the vast majority of cases, students are fully funded to allow them to devote their energies to research. The DPhil corresponds to a PhD degree offered at most other universities. Examples of previous research topics include asset-pricing and corporate finance, the design and regulation of securities markets, corporate financial policy, and the impact of financial markets on real economic activity.

Supervision

You will be assigned two initial supervisors who will guide you through your first year.

They will help you to identify your specialist area of interest and further suitable advisers in that field. You will work closely with them to define your research question and develop your thesis. It is an important relationship and also a very personal one: it is shaped by you, your supervisors and the ways you interact. You will have a minimum of nine meetings, or equivalent per year with your supervisor.

You do not need to contact any faculty in advance of making your application but you can review the  profiles of our faculty  to look for at the areas of research covered at the School. You can note within your application if you feel that you are interested in a particular research area and working with a specific faculty member. 

The allocation of a supervisor is the responsibility of Saïd Business School, it is not always possible to accommodate the preferences of incoming graduate students to work with a particular member of staff. Under exceptional circumstances a supervisor may be found outside the School.

Review some current research taking place around the school as well as from some of our alumni.

Review articles and podcasts written by our researchers at  Oxford Answers . 

Learn more about  becoming a researcher  from Andromachi Athanasopoulou, who graduated in 2007 and is now an Associate Professor in Organisational Behaviour at Queen Mary University London and an Associate Fellow at Oxford Saïd.

View Professor Renée Adams' discussion on  Women on boards: The superheroes of tomorrow?  

View Dr Amir Amel-Zadeh discussion on  (Mis-)information in financial markets .

Assessment and programme milestones

Our DPhil offers students the opportunity to engage with internationally renowned faculty who are here to help you become an academic scholar.

You will be initially admitted to the status of Probationer Research Student (PRS). During your first year, you will be required to attend taught causes where foundational economic and financial theory will be studied. Based on previous years, these may include, but are not limited to courses that cover topics such as:

• Asset pricing
• Corporate finance
• Financial econometrics

During second and third terms, you will select four elective courses offered for the second year of the MPhil in Economics, one of which must be either Financial Economics I or Financial Economics II. Following successful completion of all necessary courses and within a maximum of six terms as a PRS student (and normally by the fourth term) you will be expected to apply for transfer of status from Probationer Research Student to DPhil status. A successful transfer of status is required to give a clear indication of whether it would be reasonable to consider submission within the course of a further three terms, if work on the thesis continues to develop satisfactorily. Students who are successful at transfer will also be expected to apply for and gain confirmation of DPhil status within nine terms of admission, to show that your work continues to be on track. Both milestones normally involve an interview with two assessors (other than your supervisor). This provides important experience for the final oral examination. You will be expected to submit a thesis, which provides a significant and substantial contribution to the field of learning in finance, which should not exceed 100,000 words after four years from the date of admission. It should be good enough to be published in book form or as a series of academic articles. To be successfully awarded a DPhil in Finance you will need to defend your thesis orally (viva voce) in front of two appointed examiners.

Changes to this course and your supervision

We seek to deliver this course in accordance with this description. However, there may be situations in which it is desirable or necessary for the us to make changes in course provision, either before or after registration. The safety of students, staff and visitors is paramount and major changes to delivery or services may have to be made in circumstances of a pandemic, epidemic or local health emergency. Also in certain circumstances, for example due to visa difficulties or because the health needs of students cannot be met, it may be necessary to make adjustments to course requirements for international study.

Where possible your academic supervisor will not change for the duration of your course. However, it may be necessary to assign a new academic supervisor during the course of study or before registration for reasons which might include illness, sabbatical leave, parental leave or change in employment.

For further information please see our pages on changes to courses and the provisions of the student contract regarding changes to courses.

I think the most important issues in the supervisor relationship are communication and trust. You need a supervisor who can tell you the things you need to hear even if you don’t want to hear them, and who can nudge you back on to the right track. Alexander Montag Current DPhil in Finance student

Benefits and opportunities

• Engage with internationally renowned faculty
• Conference and research funding
• Training in principal research methods at both at Saïd Business School and wider University.

Opportunities

• Paid teaching and research assistant opportunities
• Contribute to management and academic programme decisions through student representation on committees
• Postgraduate careers resources

You will become a member of an Oxford college. Your college is both an academic and social community that will enrich your time at Oxford. It offers everything from formal dinners and balls to sports and lecture series.

The Oxford college system enables you to interact with students and faculty from other disciplines. Some colleges provide accommodation for students. 

Who can apply

Our candidates are passionately intellectual people who have a superlative academic record and are committed to a career in academia.

DPhil in Finance

You will require:

• a good undergraduate degree: 2.1 (GPA 3.5 or its equivalent)
• GMAT or GRE test results
• TOEFL or IELTS test results (If you are not from an English speaking majority country)
• three pieces of written work, including a well-developed research proposal
• three academic references

Application process

Applications are now closed for October 2024 entry.

The deadline for applying was 13 December 2023 at 23:59 GMT. 

Complete applications received by the deadline will be considered. You will be informed by late January if you have been shortlisted for interview.

Final decisions will be communicated by the end of February.

There are nine shared places available for the DPhil Finance and DPhil Management. The average number of applications for entry between 2021 and 2023 was 70. 

Fees and funding

The course fee in 2024-25 is £23,580 for both home and overseas students.

The programme is four years in duration. Course fees are payable each year, for the duration of your fee liability (your fee liability is the length of time for which you are required to pay course fees). Please be aware that fees will usually increase annually. For details, please see our guidance on changes to fees and charges .

Course fees cover your teaching as well as other academic services and facilities provided to support your studies. Course fees do not cover your accommodation, residential costs or other living costs. 

Following the period of fee liability , you may also be required to pay a University continuation charge and a college continuation charge. The University and college continuation charges are shown on the Continuation charges page.

Additional cost information

There are no compulsory elements of this course that entail additional costs beyond fees (or, after fee liability ends, continuation charges) and living costs. However, depending on your choice of research topic and the research required to complete it, you may incur additional expenses, such as travel expenses, research expenses, and field trips. You will need to meet these additional costs, although you may be able to apply for small grants from your department and/or college to help you cover some of the expenses.

Scholarships and funding

Doctoral students admitted to our programme receive full funding over four years. This includes course fees and an annual living expenses stipend. To maximise the overall availability of funding for candidates, we will identify suitable alternative scholarships and may ask you to submit funding applications. We also ask that you identify and pursue any other funding opportunities, including external funding.   

For some scholarships you are required to submit a scholarship essay and/or tick the relevant box in the Funding section of the application form.

Cost of living

In addition to your course fees, you will need to ensure that you have adequate funds to support your living costs for the duration of your course. Please view the University's  living expenses page for information about likely living costs for 2024-25.

Further information about fees

The Fees and Funding section of The University of Oxford's website provides further information about course fees , including information about fee status and eligibility  and your length of fee liability .

Alumni placements

• University of Michigan Ross School of Business – Assistant Professor of Finance
• Vanderbilt University – Assistant Professor of Finance
• Ivey Business School - Assistant Professor in Finance
• University of Warwick - Assistant Professor of Entrepreneurship and Innovation
• International Monetary Fund - Economist (Economist Program), Research Department
• Harvard Business School - Post-Doctoral Fellow
• University of Hong Kong - Assistant Professor of Finance
• Vrije Universiteit Amsterdam and Tinbergen Institute - Assistant Professor of Finance
• Federal Reserve Bank of Cleveland – Research Economist
• Indiana University – Assistant Professor of Finance
• City University of Hong Kong - Assistant Professor
• Please contact us if you have any queries.
• [email protected]

• Postgraduate Research

Accounting and Finance PhD

• Part time available: yes

Studying in:

• Management School
• Faculty of Humanities and Social Sciences

Our Accounting and Finance PhD aims to develop world-class researchers, specialised in building theory and producing valuable insight into current issues in accounting and finance.

Why study with us?

of our School's research classified as 'world leading' (4*) or 'internationally excellent' (3*) in the latest Research Excellence Framework (2021)

international experts shape world-class academic thought

of our research environment classified 'world leading' (4*) or 'internationally excellent' (3*) in the latest Research Excellence Framework (2021)

The University of Liverpool Management School’s (ULMS) Accounting and Finance PhD programme covers a wide range of areas for investigation, with special emphasis on the role accounting and finance play on organisational success, risk management and dealing with uncertainties.

The training offered is tailored, with specific modules aimed at facilitating the development of your individual research project:

• Corporate Finance and Accounting
• Theory Asset Pricing Theory
• Empirical Corporate Finance
• Accounting Empirical Asset Pricing.

To ensure you receive the most relevant support during the thesis development stage, you will work with a primary supervisor, who is a leading expert in their field.

Additionally, you will be supported by a secondary supervisor, who is typically promising early career researcher, specialising in your specific area of study.

Research themes

The University of Liverpool Management School   is a UK triple accredited ( AACSB , AMBA , and EQUIS ) leading and internationally recognised research institution, with outstanding REF 2021 results against 108 ranked Business and Management Schools across the country:

• 12th for submissions judged as World Leading (4*) or Internationally Excellent (3*)
• 16th for research outputs classified as World Leading (4*)
• 9th place for Research Power (17 places higher than in 2014)
• 100% of research supported by a World Leading (4*) or Internationally Excellent (3*) environment.

The School’s Accounting and Finance group is one of largest in the UK, with members regularly publishing in a range of top scholarly journals, including the Review of Financial Studies, Journal of Financial Economics, Journal of Accounting and Economics, Management Science, etc.

The School also has five research centres and one cluster , specialised in contemporary issues in business and society, and aimed at bringing together expertise across the School and University.

As a PhD student you are welcome to join any of these centres, as they present excellent opportunities to access internal and external research networks around cutting-edge themes.

Research interests

We welcome research proposals including, but not limited to:

• Asset pricing and investment
• Corporate finance and accounting
• International financial markets and the macroeconomy
• Financial technology (Fintech).

Please, make sure your application adheres to the following structure (maximum 3,000 words):

• Title of the proposal
• Introduction and expected contribution and its significance
• Literature review
• Proposed research questions
• Proposed methodology (fit with research/experience/need for training)
• Gantt chart
• References.

As a PhD student at the Management School you will enjoy access to a ‘Hot Desk’ working environment.

In addition to printing/photocopying/scanning facilities, the Management School has two dedicated computer suites located on the ground floor:

• The  McKenzie Trading Room offers 40 PCs with Bloomberg access. Each PC has a dual monitor and a Bloomberg keyboard
• The Grove Wing Computer Room has 28 PCs running on the standard University of Liverpool Network, with DataStream available on several computers.

You will gain access to globally recognised databases for business research, including:

• China Stock Market and Accounting (CSMAR)
• Refinitiv Eikon
• TickHistory
• Wharton Research Data Services (WRDS) .

Research groups

Research by subject groups

We have six groups which form homes for both research and teaching, providing the management and infrastructure to ensure vitality and sustainability of our research environment.

• Accounting and Finance
• Operations and Supply Chain Management
• Strategy, International Business and Entrepreneurship
• Work, Organisation and Management

Research centres and clusters

Research centres develop the School's contribution to established themes with a strong focus on applying ideas through funding and impact-related work.

Research clusters are grass-roots driven and interdisciplinary, focussing on the development of new theoretical and empirical work, typically at the early stages of the knowledge production/impact cycle.

• The Brett Centre for Entrepreneurship
• Centre for Supply Chain Research
• Centre for Sports Business
• Centre for Sustainable Business
• Centre for Organisational and Employee Wellbeing
• Liverpool Advanced Methods for Big Data Analytics (LAMBDA) Research Cluster

Study options and fees

The fees stated in the table above exclude potential research support fees also known as ‘bench fees’. You will be notified of any fee which may apply in your offer letter.

* Please note that if you are undertaking a PhD within the Faculty of Science and Engineering the fee you pay, Band A or Band B, will reflect the nature of your research project. Some research projects incur a higher fee than others e.g. if you are required to undertake laboratory work. You will be informed of the fee for your programme in your offer letter.

^ Self-funded, full-time international students studying a PhD programme classified as Band A will receive a £2,000 reduction in their fees for the first year only.

Entry requirements

Applications are welcomed and will be considered in our highly competitive programme from well qualified graduates who would typically hold a UK first degree or equivalent in the first or 2:1 class, in a relevant subject.

English language requirements

How to apply.

Research degree applications can be made online.  You'll also need to ensure that you have funding to cover all fees.

Applications are  open all year round .

More about applying for research degrees

Apply online

Before you apply, we recommend that you identify a supervisor and develop a research proposal

Find a supervisor

View staff list

Need help finding a supervisor? Contact us

• Dr Yang Zhao
• Email: [email protected]

Related studentships: self-funded and funded PhD projects

Related doctoral training partnerships.

Doctoral Training Partnerships support future researchers with funding and a rewarding learning environment where you can collaborate with leading researchers.

• ESRC - NW Social Science DTP

Find a scholarship

We offer a range of scholarships to help you meet the costs of studying a research degree.

See scholarships

Find a course

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• Studentship vacancies

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Global main menu

• School of Economics and Finance
• Postgraduate

The standard entry route to the PhD programme is through the School’s MRes programmes in Economics and Finance .

The breadth and depth of our expertise enables us to offer supervision in all major areas of economics and finance. The School has more than 40 research-active faculty working in a wide range of research areas, including macroeconomics, microeconomic theory and game theory, applied microeconomics, econometric theory, time series analysis, theoretical and empirical finance, and financial econometrics.

Recent faculty research has appeared in leading economics and finance journals, including Econometrica, the American Economic Review, the Review of Economic Studies, the Journal of Political Economy, the Quarterly Journal of Economics, the Journal of Econometrics, and the Journal of Finance. Individual members of staff also have active collaborations with various governmental and non-governmental agencies, including the UK Treasury, the Bank of England, the World Bank, the Inter-American Development Bank, OECD, and ILO.

The School runs external weekly seminars with invited speakers from top European and North American universities and internal workshops.

We have an international community of PhD students , who are central to the research culture of the School. Students are offered an inclusive environment with excellent infrastructure and many opportunities for formal and informal interaction with staff. Students are also provided with office space, a desktop computer, and an annual research allowance.

Excellent career opportunities are open to our PhD graduates. Recent placements include lectureships or postdoc research positions at the universities of Cambridge, York, Leicester, Aarhus, Vienna and Sao Paulo, as well as the Institute for the Study of Labor (IZA). Our graduates are also typically hired by central banks: recent placements include the Bank of England, the Bank of France, the Bank of Italy, and the Central Bank of Uruguay.

The standard entry route to the PhD programme is through the MRes programmes in Economics and Finance, please visit the MRes programme deadlines page. 

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Finance PhD

Key information.

• 1st  in the UK for annual research income in  2019-2022   (Chartered Association of Business Schools)
• 8th  in the UK for Economics and Finance (Research.com Best Universities by Discipline 2023)
• 8th  in the UK for citations in Business and Economics   (The Times Higher Education World University Rankings 2023)

Find solutions to the practical problems that market practitioners and policy-makers face.

You’ll work with researches who have strong academic backgrounds. Some also have significant industry experience, having held various roles in top-tier investment banks, hedge funds and relevant industries. Our research is mainly conducted within two research groups: 

• Our crossdisciplinary  Business Finance Research Group  focuses on corporate finance and governance in both public and private companies, as well the roles of private equity firms, banks and other financial intermediaries. The group publishes on areas such as financial misconduct, banking regulation, entrepreneurial finance and the impact of global crises on corporate finance. 
• Our Quantitative FinTech (QFin) research group includes experts in quantitative finance, FinTech and climate finance. The group collaborates with business and industry on numerous research initiatives with direct relevance to important problems in global financial markets. 

Both groups hold regular research seminars with internal and external speakers.

Find out more about research at the University of Sussex Business School

We expect successful applicants to be admitted to the Integrated PhD. This provides the rigorous research training you need to become a skilled practitioner. If you’re unsure which route to apply for, please apply for the Integrated PhD .

Accreditation

You’ll join the EQUIS and AMBA-accredited University of Sussex Business School. Learn more about all of our course accreditations here. Find out more

We understand that deciding where and what to study is a very important decision. We’ll make all reasonable efforts to provide you with the courses, services and facilities described in this prospectus. However, if we need to make material changes, for example due to government or regulatory requirements, or unanticipated staff changes, we’ll let you know as soon as possible.

Masters and P h D events

Meet us on campus or online

Book your place

Entry requirements

• UK requirements
• International requirements

Please select your country from the list.

Philippines

Saudi arabia, south africa, south korea, switzerland, united arab emirates, my country is not listed.

If your country is not listed, you need to contact us and find out the qualification level you should have for this course. Contact us

English language requirements

Ielts (academic).

High level (6.5 overall, including at least 6.0 in each component).

IELTS scores are valid for two years from the test date. You cannot combine scores from more than one sitting of the test. Your score must be valid when you begin your Sussex course.  Find out more about IELTS

We accept IELTS One Skills Retake.

We do not accept IELTS Online.

Check full details of our English Language requirements and find out more about some of the alternative English language qualifications listed below

Alternative English language qualifications

Proficiency tests, cambridge advanced certificate in english (cae).

169 overall, including at least 162 in each skill.

We would normally expect the CAE test to have been taken within two years before the start of your course.

You cannot combine scores from more than one sitting of the test. Find out more about Cambridge English: Advanced

Cambridge Certificate of Proficiency in English (CPE)

We would normally expect the CPE test to have been taken within two years before the start of your course.

You cannot combine scores from more than one sitting of the test. Find out more about Cambridge English: Proficiency

LanguageCert International ESOL SELT

High level (International ESOL SELT B2 with a minimum of 39 in each component)

LanguageCert International ESOL scores are valid for two years from the test date. Your score must be valid when you begin your Sussex course. Find out more about LanguageCert SELT

We only accept LanguageCert when taken at SELT Test Centres. We do not accept the online version.

Pearson PTE Academic

High level (62 overall, including at least 59 in all four skills)

PTE (Academic) scores are valid for two years from the test date. You cannot combine scores from more than one sitting of the test. Your score must be valid when you begin your Sussex course. Find out more about Pearson (PTE Academic)

We do not accept the PTE Academic Online test.

TOEFL (iBT)

High level 88 overall, including at least 20 Listening, 19 in Reading, 21 in Speaking, 23 in Writing.

TOEFL (iBT) scores are valid for two years from the test date. You cannot combine scores from more than one sitting of the test. Your score must be valid when you begin your Sussex course. Find out more about TOEFL (iBT)

We do not accept TOEFL (iBT) Home Edition.

The TOEFL Institution Code for the University of Sussex is 9166.

English language qualifications

As/a-level (gce).

Grade C or above in English Language.

Hong Kong Advanced Level Examination (HKALE)/ AS or A Level: grade C or above in Use of English.

GCE O-level

Grade C or above in English.

Brunei/Cambridge GCE O-level in English: grades 1-6.

Singapore/Cambridge GCE O-level in English: grades 1-6.

GCSE or IGCSE

Grade C or above in English as a First Language (Grade 4 or above in GCSE from 2017).

Grade B or above in English as a Second Language.

Ghana Senior Secondary School Certificate

If awarded before 1993: grades 1-6 in English language.

If awarded between 1993 and 2005: grades A-D in English language.

Hong Kong Diploma of Secondary Education (HKDSE)

 Level 4, including at least 3 in each component in English Language.

Indian School Certificate (Standard XII)

The Indian School Certificate is accepted at the grades below when awarded by the following examination boards:

Central Board of Secondary Education (CBSE) – English Core only: 70%

Council for Indian School Certificate Examinations (CISCE) - English: 70% 

International Baccalaureate Diploma (IB)

English A or English B at grade 5 or above.

Kenya Certificate of Secondary Education

Grades A - C in English language

Malaysian Certificate of Education (SPM) 1119/GCE O-level

If taken before the end of 2008: grades 1-6 in English Language.

If taken from 2009 onwards: grade C or above in English Language.

The qualification must be jointly awarded by the University of Cambridge Local Examinations Syndicate (UCLES).

West African Senior School Certificate

Grades A1-C6 (1-6) in English language when awarded by the West African Examinations Council (WAEC) or the National Examinations Council (NECO).

Country exceptions

Select to see the list of exempt english-speaking countries.

If you are a national of one of the countries below, or if you have recently completed a qualification equivalent to a UK Bachelors degree or higher in one of these countries, you will normally meet our English requirement. Note that qualifications obtained by distance learning or awarded by studying outside these countries cannot be accepted for English language purposes.

You will normally be expected to have completed the qualification within two years before starting your course at Sussex. If the qualification was obtained earlier than this, we would expect you to be able to demonstrate that you have maintained a good level of English, for example by living in an English-speaking country or working in an occupation that required you to use English regularly and to a high level.

Please note that this list is determined by the UK’s Home Office, not by the University of Sussex.

List of exempt countries: 

• Antigua and Barbuda
• New Zealand
• St Kitts and Nevis
• St Vincent and the Grenadines
• The British Overseas Territories
• Trinidad and Tobago
• United Kingdom

** Canada: you must be a national of Canada; other nationals not on this list who have a degree from a Canadian institution will not normally be exempt from needing to provide evidence of English.

English language support

If you don’t meet the English language requirements for your degree, you may be able to take a pre-sessional course

• Visas and immigration

Admissions information for applicants

If your qualifications aren’t listed or you have a question about entry requirements, contact us

• How to apply

If you’d like to join us as a research student, there are two main routes:

• browse funded projects in this subject area
• browse our potential supervisors and propose your own research project.

Find out how to apply for a PhD at Sussex

Full-time and part-time study

Choose to work on your research full time or part time, to fit around your work and personal life. For details about part-time study, contact us at [email protected]

PhD or MPhil?

You can choose to study for a PhD or an MPhil. PhD and MPhil degrees differ in duration and in the extent of your research work.

• For a PhD, your research work makes a substantial original contribution to knowledge or understanding in your chosen field.
• For an MPhil, your work is an independent piece of research but in less depth than for a PhD. You’ll graduate with the degree title Master of Philosophy. You might be able to change to a PhD while you study for an MPhil.

Our supervisors

Dr Mostak Ahamed

Senior Lecturer in Finance

[email protected]

View profile of Mostak Ahamed

Lecturer in Finance

[email protected]

View profile of Xi Chen

Prof Ranko Jelic

Professor of Finance

[email protected]

View profile of Ranko Jelic

Prof Andreas Kaeck

[email protected]

View profile of Andreas Kaeck

Dr Faek Menla Ali

[email protected]

View profile of Faek Menla Ali

Prof Radu Tunaru

Professor of Finance & Risk Management

[email protected]

View profile of Radu Tunaru

Dr Xiaoxiang Zhang

Reader in Finance and Corporate Governan

[email protected]

View profile of Xiaoxiang Zhang

Funding and fees

How can i fund my course, funded projects and scholarships.

Our aim is to ensure that every student who wants to study with us is able to despite financial barriers, so that we continue to attract talented and unique individuals. Don’t miss out on scholarships – check the specific application deadlines for funding opportunities. Note that funded projects aren’t available for all our PhDs.

£3,000 scholarships available to environmental influencers bringing about real-world behaviour change

Find out more

£800 scholarship available to reward talented organ player studying on any course at Sussex.

Scholarships of £800 are available to reward talented musicians studying on any course at Sussex

Cash scholarships available for students who have demonstrated sporting excellence

University of Sussex Stuart Hall Doctoral Scholarship

Up to 10 scholarships for outstanding PhD students holding China Scholarship Council awards

Applying for USA Federal Student Aid?

If any part of your funding, at any time, is through USA federal Direct Loan funds, you will be registered on a separate version of this degree which does not include the possibility of distance learning which is prohibited under USA federal regulations. Find out more about American Student Loans and Federal Student Aid .

Part-time work

We advertise around 2,500 part-time jobs a year so you can make money and gain work experience. We have a special scheme to employ students on campus, wherever possible.

Find out more about careers and employability

How much does it cost?

Fees for self-funding students.

Home students: £4,786 per year for full-time students

Channel Islands and Isle of Man students: £4,786 per year for full-time students

International students: £21,500 per year for full-time students

Home PhD student fees are set at the level recommended by United Kingdom Research and Innovation (UKRI) annually, rising in line with inflation. Overseas fees are subject to an annual increase - see details on our tuition fees page

Additional costs

Note about additional costs.

Please note that all costs are best estimates based on current market values. Activities may be subject to unavoidable change in response to Government advice. We’ll let you know at the earliest opportunity. We review estimates every year and they may vary with inflation. Find out how to budget for student life .

Empirical research costs

On top of your PhD fees and living costs, you may also need to cover some research and training costs, relevant to your research project. These costs will depend on your research topic and training needs, but may include: - travel (to archives, collections or scientific facilities) - a laptop - overseas fieldwork costs (travel and accommodation, and language training) - conference costs (travel, registration fees and accommodation) - laboratory consumables and workshop materials - participant costs - transcription or translation costs - open-access publication costs. If you have a scholarship from one of the UK Research Councils, your scholarship should cover these types of costs. You'll receive details of how to claim this additional funding. If you're self funded, or if your scholarship doesn’t cover these costs, check with the Research and Enterprise Co-ordinator in your School for details of School or Doctoral School funding that may be available.

• Living costs

Find out typical living costs for studying at Sussex

Find out about our terms and conditions

Explore our campus

Experience Sussex life in our virtual tour.

Start your virtual tour

PhD Information Sessions

Visit campus and chat to staff and students. Book your place

Online PhD Sessions

Join a live webchat. Book your place

International

Meet us in your country

Course enquiries

+44 (0)1273 876787

Send us a message

Admissions enquiries

If you haven’t applied yet:

+44 (0)1273 678169 business-researchstudents@​sussex.ac.uk

Find out about the University of Sussex Business School

After you’ve applied:

+44 (0)1273 877773 [email protected]

Find out how to apply

Quick links

• Guide to PhD study
• PhD support
• Academic facilities
• Open Days and events
• Accommodation
• International students
• Student life
• Order a printed prospectus

What do you want to do next?

• Courses Browse our courses by subject area
• Sussex Life Find out about life at Sussex
• Visit Come to a PhD Open Evening
• Apply Find out how to apply

Accounting and Finance

PhD Accounting and Finance

Research is central to the activities of the University of Bristol Business School. The school comprises several groups of academic staff with a variety of interests and a focus on research that has practical relevance. The results of the most recent UK-wide research assessment, the Research Excellence Framework (REF) 2021 , rated 88% of the research activity in business and management as 'world leading' or 'internationally excellent'.

The Business School encourages interdisciplinary research, drawing on a range of theories and methodologies. We welcome students from a variety of backgrounds and experiences. You will be joining a thriving PhD community. We run a programme of activities to enable PhD students to network with each other.

Candidates entering the PhD programme are required to take 60 credit points of taught units in their first year and to participate in PhD workshops and reading groups. Students are also encouraged to undertake further training in agreement with their supervisor for the duration of their studies.

The main research training is taken from among two categories of units, with separate lists for Accounting and for Finance students. The units are chosen in consultation with the supervisors to suit the student's PhD research. The pass mark set by the University for any level 7(M) unit is 50 out of 100.

World-leading research

The University of Bristol is ranked fifth for research in the UK ( Times Higher Education ).

94% of our research assessed as world-leading or internationally excellent.

Entry requirements

The applicant must have an upper second-class honours degree in a relevant subject or an equivalent qualification, and either have completed or be completing a master's qualification from a UK university (or equivalent).

The master's requirement does not apply to applications made to SWDTP-funded scholarships although commencement of the PhD remains conditional on the completion of the associated master's. Applicants without a master's qualification may be considered on an exceptional basis.

Aptitude test results such as GMAT and GRE can be submitted as evidence of PhD-level analytical and verbal abilities.

See international equivalent qualifications on the International Office website.

Read the programme admissions statement for important information on entry requirements, the application process and supporting documents required.

If English is not your first language, you will need to reach the requirements outlined in our  profile level B.

Further information about  English language requirements and profile levels .

Fees and funding

Fees are subject to an annual review. For programmes that last longer than one year, please budget for up to an 8% increase in fees each year.

More about tuition fees, living costs and financial support .

Alumni discount

University of Bristol students and graduates can benefit from a 25% reduction in tuition fees for postgraduate study.  Check your eligibility for an alumni discount.

Funding for 2024/25

Students applying to research programmes in the Faculty of Social Sciences and Law may apply for funding from a range of sources. Applicants can find details about applying to these scholarships and deadlines for applications on our Faculty of Social Sciences and Law webpage .

Applicants can also find the latest funding information on the Business School website , via Business School PGR contacts ( [email protected] ) or through the Business School's social media channels ( Facebook | Instagram | LinkedIn | Twitter ).

Further information on funding for prospective UK and international postgraduate students.

Career prospects

The primary purpose of this qualification is to prepare for a career in research.

Research groups

Find out more about the University of Bristol Business School research groups .

Details of the current research and supervision interests of individual members of staff are available on the school website .

When writing the research statement to accompany your application, the primary requirement is to define and situate your research within an academic/disciplinary context. You should remember that people in the academic community are the main audience or readership for postgraduate research.

This means that you will need to identify:

1. The research questions or problems that you intend to address; 2. The research context for your project/programme of work; 3. The methods you think you will use to pursue the key questions; 4. Two potential supervisors for your research - please refer to the staff profiles as listed by the school website .

In considering your application, significant weight will be given to the extent to which you can demonstrate a clearly thought out and specific interest in research.

How to apply

Apply via our online application system. For further information, please see the guidance for how to apply on our webpages.

Applicants need to make sure that they submit all required documents (see admissions statement), incomplete applications will not be considered.

Applicants must contact prospective PhD supervisors in advance of applying for a programme. Please refer to the staff profiles as listed by Academic Groups . If the supervisor you seek cannot offer supervision, try to identify alternative supervisors.

The supervisor's details should then be included in the application form, or the application process may be delayed. You may also submit an application without identification of supervisors, and we will try our best to find a match, although we cannot guarantee supervision. Early applications are strongly encouraged.

Applications open on 2 October 2023 and will be considered in four rounds, with round one closing on 1st December 2023; round two on 1st February 2024 and round three on 31st March 2024. Round four closes on 1st June 2024.

Applications to begin study in September 2024 will not be accepted after this date. Applications should be submitted electronically by no later than 4pm on the day of the deadline for the round in which you apply.

Business School PGR Team

Faculty of Social Sciences and Law

University of Bristol Business School

Explore more

Find out about the bristol doctoral college.

Plymouth Business School

Phd finance.

Exploring the major challenges in today’s global financial markets and institutions and corporate ventures, PhD Finance will provide you with inspiring opportunities to undertake top level research on modern finance and investment frontiers. Supervised by scholars renowned in their fields, you’ll explore curious issues arising from the latest developments in finance research and industry practice, enriching the literature on your chosen topics.

Course details

Programme overview.

• This full time or part time doctoral programme is suitable for people who have a particular research question or topic in mind, and wish to explore this through independent study in order to produce an original contribution to the subject. If you aspire to a research career this is the most appropriate research degree to undertake. You will be guided by a small supervisory team of academic experts under the direction of a Director of Studies.  You will be expected to fully engage with skills development and training and to present your research in a range of scholarly contexts. Your PhD will be assessed via submission of a written thesis (up to 80,000 words) and a viva voce (an oral examination). For full details of what doing a PhD entails at the University of Plymouth, please visit our postgraduate research degrees page.

Entry requirements

Fees, costs and funding, how to apply.

• ) Apply online
• / Contact us
• ; Info for applicants
• 6 Studentships

The Doctoral College is able to answer any questions you may have about applying for or undertaking a postgraduate research degree at the University of Plymouth: [email protected] or +44 1752 587640 .  

Competition, Innovation and Positioning (CIP)

There are a variety of connected interdisciplinary strands in CIP – markets and competition – economic behaviour and financial performance – dynamic positioning and innovation strategy. 

Bloomberg Interactive Learning Suite

Fitzroy Building

Meet our experts

Professor Peijie Wang

Professor of finance.

Dr James Benhin

Associate professor in economics in plymouth business school.

Dr Rania Naguib

Lecturer in economics.

Dr Rumbi Mukonoweshuro

Lecturer in finance.

Dr Moji Olugbode

Lecturer in accounting and finance.

Dr Alexander Haupt

Associate professor (reader) in economics.

Dr Steven Brand

Associate professor (senior lecturer) in economics.

Professor Shaofeng Liu

Mr Andrew Hunt

Associate head of school (undergraduate).

Professor Salima Paul

Emeritus professor.

Dr Ioannis Negkakis

Lecturer in accounting, funding for postgraduate research students.

Choose start date: Start date: September 2024 Duration: Five to six years Deadline: Applications are now closed Fee: Fully funded Location: London, UK

Conduct research to develop a more robust financial system

Within the Department of Finance, our world-class researchers engage with and disseminate research to practitioners, policy-makers and academic colleagues to develop a more robust financial system.  

The research interests of faculty span four core themes – Innovation and Asset Pricing, Corporate Finance, Finance and Risk Management, and Financial Analysis. They hold expertise within derivative pricing and hedging, quantitative risk management and asset allocation, financial econometrics, stochastic volatility modelling, credit risk modelling, catastrophe risk analysis, M&A and private equity. 

You may also be co-supervised by faculty in other departments in the School, depending on your research interests. 

Research centres and partnerships

The Business School is home to several research centres and institutes, offering a diverse range of activities that bring together academics and specialists

The Brevan Howard Centre for Financial Analysis

Where Imperial College London finance faculty collaborate with external academics and industry professionals to develop cutting-edge research, influencing global industry practice and public policy.  

Grantham Institute for Climate Change

Focussing on research relating to a sustainable, resilient, zero-carbon future. 

Financial Technology

Acting as a hub for the interdisciplinary research that is needed to develop innovations, reveal insights and answer questions; bringing together the activities of academics, startup companies, established industry and governmental organisations. 

Climate Finance and Investment

Works to unlock solutions within capital markets to address the challenges posed by global climate change. 

Teaching experience

PhD students on the Graduate Teaching Assistant (GTA) scholarship will undertake 150 hours of teaching assistant duties from year three of the programme. There will be opportunities for PhD students to engage in teaching activities within the Business School’s Finance Masters’. 

Doctoral Theses in Finance

Meet your faculty.

Our PhD programme fosters close collaboration between leading Finance faculty and doctoral students, developing their research interests and providing continuous support and guidance throughout the programme.  

Franklin Allen

Patrick Bolton

Ramana Nanda

Lara Cathcart

Enrico Biffis

Christopher Hansman

Clara Martinez-Toledano

Explore more, doctoral programme.

Study your doctoral programme at a global top 10 university offering world-class faculty, leadership coaching, global business experience, industry connections, specialist careers support and an exciting London location. 

Request a brochure

Downloading a brochure is a great way to find out more about our programmes and discover which is right for you. 

Stay up to date

Keep up to date about news, events, and application deadlines for the Doctoral programme by joining our mailing list. 

PhD, MPhil Accounting & finance

Research opportunities.

We provide research training in both accounting and finance which will prepare you for a demanding career as:

• an academic
• a professional researcher in the financial services sector
• a manager of a business, government and professional organisations

You can study an MPhil over the course of one year or a PhD over three years.

Under specific circumstances and subject to conditions, part-time study can be arranged.

You can study any option in either of our research areas:

View our current research opportunities, john anderson research studentship scheme (jarss).

John Anderson Research Studentship Scheme (JARSS) doctoral studentships are available annually for excellent students and excellent research projects.

There are two main sources of funding:

• Central University funding
• Engineering and Physical Sciences Research Council - Doctoral Training Partnership (EPSRC - DTP) funding.

The JARSS 2023/2024 competition will open in October 2023 and students successful in this competition will commence studies in October 2024. Faculties will set their own internal deadlines for the competition.

Academics/Supervisors make the applications for this scheme and there are various deadlines across the Department and Faculties, therefore, in the first instance, all interested students should contact the Department where they would like to carry out their research.

• Strathclyde Business School

We offer an excellent academic environment where you can pursue your research degree. As a postgraduate research student, you're required to:

• attend the Strathclyde Business School Faculty Research Methodology Programme, achieving a minimum of Certificate level; it comprises four modules over two to three days each; if you're part-time, you'll spread these over two years
• ensure regular meetings and contact with your supervisors

Entry requirements

Full-time students.

You'll have access to computing/hot-desking, printing, email and kitchen facilities. You're expected to be in the Department on a regular basis. You'll also attend the Department's research seminar series as well as other occasional workshops.

Part-time students

You'll have hot-desking facilities giving you regular access to the Department and helping you integrate with other students and staff. You're required to attend the Department for at least 10 days per year. This is in addition to the Research Methodology Programme. 

Potential applicants should note that there is no dedicated distance-learning programme.

Triple-accredited business school

Fees & funding

All fees quoted are per academic year unless otherwise stated.

Entrants may be subject to a small fee during the writing up period.

Fees may be subject to updates to maintain accuracy. Tuition fees will be notified in your offer letter.

All fees are in £ sterling, unless otherwise stated, and may be subject to revision.

Annual revision of fees

Students on programmes of study of more than one year (or studying standalone modules) should be aware that tuition fees are revised annually and may increase in subsequent years of study. Annual increases will generally reflect UK inflation rates and increases to programme delivery costs.

Please note: the fees shown are annual and may be subject to an increase each year.

Supervisors

If you're interested in studying for a research degree we recommend that you identify members of staff with relevant expertise before applying. You should email the member of staff to chat about the potential for supervision, explaining how your proposed research topic relates to their research interests.

If your chosen supervisor is available to work with you, they'll confirm this you should then make a full application via Pegasus.

The diversity of the community and the researchers’ enthusiasm are impeccable. I get to learn about various cultures, research areas, methodologies, and ways to contribute.

Support & development

Postgraduate certificate (pgcert) in research methodology for business & management.

As part of your PhD degree, you'll be enrolled on the Postgraduate Certificate in Research Methodology for Business and Management. 

This certificate is designed to support you by developing your skills as a researcher. Your researcher training will provide you with the intellectual foundations that you will need for your journey into either the higher-level learning needed for advanced postgraduate research degrees or to work in a range of research focussed roles within organisational settings.

Course highlights:

• course can be studied as a blended or fully online programme depending on your circumstances
• course is ideally suited to part-time students juggling studies with other work
• strong practical focus including training in software and advanced quantitative and qualitative methods
• rich and diverse learning environment where you will study with students from around the world and studying a range of postgraduate research degrees
• opportunity to learn from academics who are leaders in their field and working at the cutting edge of business research

Most students complete the PgCert in their first year but you can take courses throughout your degree.

Find out more about the Postgraduate Certificate

Doctoral Training Centre

We have taken a lead (with Edinburgh University) in providing advanced training to Doctoral Training Centre students across Scotland. From 2013, the two institutions have collaborated to offer three intensive doctoral-level courses:

• Corporate Finance
• Empirical Accounting
• Qualitative Accounting

Our aim is to train skilled students who will be able to compete with the best graduates in their future careers.

The University Careers Service can help you with everything from writing your CV to interview preparation.

Student support

From financial advice to our IT facilities, we have a wide range of support for all students here at Strathclyde. Get all the information you need at Strathlife .

Postgraduate research at the Strathclyde Doctoral School

The Strathclyde Doctoral School provides a vibrant and comprehensive student-centred research and training environment in order to grow and support current and future research talent.

The School encompasses our four faculties and is committed to enriching the student experience, intensifying research outputs and opportunities, and ensuring training is at the highest level. As a postgraduate researcher, you'll automatically become a member of the Strathclyde Doctoral School.

One of my main criteria for choosing a PhD program was academic excellence and the Department of Accounting & Finance at Strathclyde is among the top in the UK. I was impressed by many of the faculty members during my studies at Strathclyde and I wanted to work in the same place as them.

For entry onto our postgraduate research programmes, we normally look for a first-class or upper second-class UK Honours degree, or overseas equivalent, in a relevant business or social science related subject. For PhD applications, we also normally expect a Masters degree, or overseas equivalent, although there are often exceptions. For technical social subjects, such as Accounting/Finance, in addition to Accounting/Finance/Economics subjects, we also expect decent coverage of quantitative/econometrics subjects in the undergraduate and postgraduate courses. When reviewing your academic achievements, we're particularly interested in grades which relate to independent research (for example, a research project or dissertation). A strong score in these elements may allow us to consider entry with a lower degree classification.

Strathclyde Business School is committed to supporting a diverse and inclusive postgraduate research population. We make decisions on entry by assessing the whole person and not relying solely on academic achievements. On that basis, please ensure that your application (via your CV and covering letter) can evidence your resourcefulness, commitment and resilience as demonstrated by broader professional and life experiences. This evidence should be centred on your ability to undertake and complete a PhD and contribute to a positive PhD community.

You can prove your knowledge of English by:

• Passing a Secure English Language Test from  our list of accepted providers with an IELTS (or equivalent) score of 6.5, with no individual element below 5.5.
• We will also consider evidence of prior study using English as the medium of instruction if this study was in the last five years.
• The University has an English Language Teaching unit that offers a pre-sessional course – both on campus and online - allowing applicants to upskill in the use of English language in preparation for undertaking a postgraduate research degree. More information on the course and how to apply is available on the Pre-sessional webpage . PGR applicants should add a Pre-sessional application to their main degree application on the Applicant Portal, selecting the Pre-sessional programmes for Postgraduate students. For more information, or if you have any questions, please contact  [email protected] .

Before you apply

Writing your research proposal.

When preparing your research proposal please use the following template:

1. Working title

2. Layman’s summary of proposed research [max. 250 words]

Give us a brief summary of your proposed research project written for members of the public, rather than researchers or professionals. Why is this research important? What global/societal issues does it solve? What impact could it have on business and management in the future.

3. Research aim and objectives (or question(s)) [max. 500 words]

What’s the question you want to answer? How will you attempt to answer this question?

4. Literature review [max. 500 words]

Provide a brief overview of relevant literature to indicate any debates the research aims to engage with; any gaps or problems that have been identified; or what models the project hopes to explore or test.

5. Methodology [max. 300 words]

Provide an outline of the proposed research methodology.

6. Timeline [max. 300 words]

A PhD is 36 months minimum study (full time). In 6 months increments, indicate what you think the main activities will be. This is important as we need to assess the achievability of your proposal. This should be presented in tabular format.

6. References

Please use Harvard referencing throughout.

• please use Times New Roman 12 pt font
• 1.5 line spacing
• 2.5cm margin all round
• hard return between paragraphs

Getting a reference

Read our help on how to choose references and what the referees need to supply .

The application

During the application you’ll be asked for the following:

• your full contact details
• a copy of an up-to-date CV
• Academic transcripts for both your degrees which clearly show the modules studied and the grades gained for each module
• proof of English language proficiency, less than two years old, if English isn't your first language
• two references, one of which must be academic – the references should focus on your academic and research skills, as well as your suitability to undertake PhD level study
• funding or scholarship information
• research proposal, clearly demonstrating the potential contribution both in theory and practice; please use our guidance above and attach this with your application

By filling these details out as fully as possible, you'll avoid any delay to your application being processed by the University.

Accepting an offer

Once you've accepted our offer, we'll need you to fulfil any academic, administrative or financial conditions that we ask.

UK or EU students

If you're applying as a UK or EU student, you'll then be issued with your registration documentation.

Start date : Oct 2023 - Sep 2024

Accounting and finance, start date : oct 2024 - sep 2025, start date : oct 2024, research methodology in business and management, start date : oct 2025 - sep 2026, start date : oct 2025, sbs pgr admissions.

Email: [email protected]

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PhD Finance

• Ask a question
• Get a prospectus

Entry requirements

Fees and funding.

• What's next?

Global financial markets are facing an era of unprecedented upheaval. Just 10 years ago the world was beginning to recover from the financial crash of 2008, but now world markets must recover from a health pandemic that has driven national economies to the brink of collapse. Now more than ever, the finance sector needs decisive leadership and fresh thinking to navigate the crisis and the “new normal” that will emerge in the post-pandemic era.

Our PhD Finance gives you the opportunity to specialise in a wide range of areas such as:

• financial econometrics
• behavioural finance
• corporate finance
• international finance
• portfolio and risk management
• commodity markets
• asset pricing
• financing of Small and Medium Sized Enterprises (SMEs)

You study at Essex Business School (EBS) at our Colchester Campus . We are the largest department at the University of Essex and one of the most respected finance groups in the UK. We are a business school with an international outlook and our doctoral students join us from all over the world.

The University of Essex is home to a number of cutting-edge financial research centres and institutes, where academics across disciplines and departments come together to collaborate around a common theme, often engaging with external partners at a national and international level. The Essex Finance Centre (EFiC) works with leading financial services firms and public sector organisations, governments and policy institutions to produce work that makes real-world impact across the globe. The Essex Centre for Macro and Financial Econometrics brings together academic and industry expertise from inside and outside the University of Essex to research and help solve important issues in financial markets.

In addition within Essex Business School our Finance Group is one of the largest groups of finance researchers in the UK. Their research has been cited in the Bank of England, the European Central Bank and the Federal Reserve and is relevant to real people's lives. Members join the group from all over the world, including Greece, Italy, Spain, China, India and Mauritius and bring with them a wealth of knowledge and expertise.

Professor Neil Kellard , Dean of Essex Business School and member of the Finance Group, carries out research which supports developing countries through forecasting commodity prices. By modelling the effects of different causes, such as natural disasters, his research helps to find solutions to ease the impact of price changes for commodities such as energy and food. Professor Jerry Coakley is an active researcher and teaches as part of the group. His research is extremely topical as he studies the rise in crowdfunding and its impact on the way new and fledgling SMEs finance themselves. Many entrepreneurs may find the big banks turn them away or simply charge too much, leading them to turn to the public to help them crowdfund their way to business success.

Once a year, our doctoral students have the opportunity to present their work at our PhD conference.

You can choose to study on a full-time or part-time basis. You may also be eligible for a PhD scholarship .

If you would like to undertake a doctoral degree in finance but do not have a Masters, you may want to look at our integrated PhD Finance .

• Ranked in the top 200 for Accounting and Finance in the QS World University Rankings by Subject (2022).
• Our Finance Group is one of the largest groups of finance researchers in the UK
• Our research has been cited in the Bank of England, the European Central Bank and the Federal Reserve

Our expert staff

At Essex Business School, you benefit from world-class supervision and research training conducted by our senior academic staff such as Professor Claudia Girardone . Claudia is a Professor of Banking and Finance at Essex Business School and is also the Director of the Essex Finance Centre (EFiC) and the School's Director of Research. Professor Girardone has published over 50 articles on various aspects of banking and finance in books and peer-reviewed international journals and is currently on the editorial board of several journals. Her research focuses on banking sector performance and stability, bank corporate governance, the industrial structure of banking and access to finance.

Our department boasts eight research centres across our two campuses. Dr Louise Nash and Director of Postgraduate Research at Essex Business School oversees and leads the provision of our graduate research programmes and ensures that we create an environment where our doctoral students can flourish as researchers in a thriving and mutually supportive PhD community.

Louise is a lecturer in Management and Marketing and completed her PhD Management at Essex. She has extensive management and marketing experience which has influenced her research interests – these focus on interpretative, qualitative studies of the lived experience of work, including: the spatial and temporal rhythms of everyday life; the culture, aesthetics and symbolism of organisational life; gender in the workplace and exploring and developing sensory and embodied methods for researching organisations.

You work with two supervisors during your studies. They provide guidance and support to help you achieve your individual research goals, develop your research topic and create a personalised training plan. You meet with your supervisors at least once a month and are usually required to submit work before for feedback. Twice a year, you have a supervisory board meeting to discuss your progress and agree your plans for the next six months.

As well as supporting you to complete your thesis, your supervisors can help you to plan your career development. Our academics often co-author publications with doctoral students and can help you to develop the transferable skills needed for the jobs market.

Take a look at our staff pages to find out more about our areas of supervision.

Specialist facilities

PhD Finance is based at our Colchester Campus , in the UK's first zero-carbon business school building, reflecting our commitment to sustainability and business ethics; we are a signatory of the UN Principles for Responsible Management Education (PRME).

You have access to excellent research facilities , such as:

• a Bloomberg virtual trading floor
• access to databases such as Bloomberg, Compustat, Passport GMID, Bankscope and Datastream
• e-book finance and business packages to support part-time and distance learning (including Ebrary, NetLibrary, Oxford Scholarship Online, Palgrave Connect and SpringerLink)
• PC access and a quiet place for conducting research in our PhD study area
• space to meet with students for our Graduate Teaching Assistant (GTA) in our GTA pods
• final year students receive office space to encourage successful thesis completion
• group-working space in our stunning winter garden
• Bonds café with adjacent sun terrace
• study skills support for postgraduate students

Our Bloomberg virtual trading floor facility features 12 Bloomberg Terminals with access to the Bloomberg financial and real-time data feed. This state-of-the-art, hands-on facility is particularly useful to finance students. It gives you the opportunity to learn essential portfolio management skills using the same tools used by traders and business analysts worldwide and also helps you to learn how to model financial data in a practical setting based on the live financial markets.

Our Colchester building is less than a ten- minute walk from the University library and the Silberrad Student Centre.

Across the road from our building, buses take you to Colchester town centre and train station, where you can take trains directly to London. London Stansted airport is just over an hour away, providing connections to mainland Europe.

Your future

Our PhD programmes are designed to foster the business leaders and researchers of the future who use creativity, innovation and ethical awareness to meet the many challenges facing the international business world.

Our doctoral graduates have secured roles in academia at some of the best international universities, as well as organisations in the public and private sectors. Recent examples include careers with:

• Bristol University
• University of Southampton
• University of St Andrews
• Xiamen University
• South China University

Our University Student Development Careers Services are on hand to provide careers advice and help you make the most of your Essex experience. You will also have access to CV workshops, one-to-one advice and career resources.

“My PhD has helped me to develop both academic and practical business skills through an internship at asset management company Invesco. The University’s library provides instant access to databases and journals and my supervisors are knowledgeable and supportive. Whenever I’ve had a question, I’ve found the School’s Student Services Team friendly and helpful.” Nima Zarrabi, PhD in Finance

UK entry requirements

International & eu entry requirements.

We accept a wide range of qualifications from applicants studying in the EU and other countries. Get in touch with any questions you may have about the qualifications we accept. Remember to tell us about the qualifications you have already completed or are currently taking.

Sorry, the entry requirements for the country that you have selected are not available here. Please select your country page where you'll find this information.

English language requirements

Course structure.

A research degree doesn't have a taught structure, giving you the chance to investigate your chosen topic in real depth and reach a profound understanding. In communicating that understanding, through a thesis or other means, you have a rare opportunity to generate knowledge. A research degree allows you to develop new high-level skills, enhance your professional development and build new networks. It can open doors to many careers.

We understand that deciding where and what to study is a very important decision for you. We'll make all reasonable efforts to provide you with the courses, services and facilities as described on our website and in line with your contract with us. However, if we need to make material changes, for example due to significant disruption, we'll let our applicants and students know as soon as possible.

Components are the blocks of study that make up your course. A component may have a set module which you must study, or a number of modules from which you can choose.

Each component has a status and carries a certain number of credits towards your qualification.

The modules that are available for you to choose for each component will depend on several factors, including which modules you have chosen for other components, which modules you have completed in previous years of your course, and which term the module is taught in.

Modules are the individual units of study for your course. Each module has its own set of learning outcomes and assessment criteria and also carries a certain number of credits.

In most cases you will study one module per component, but in some cases you may need to study more than one module. For example, a 30-credit component may comprise of either one 30-credit module, or two 15-credit modules, depending on the options available.

Modules may be taught at different times of the year and by a different department or school to the one your course is primarily based in. You can find this information from the module code . For example, the module code HR100-4-FY means:

COMPONENT 01: COMPULSORY

Research skills are critical to a postgraduate research degree, regardless of the topic you are exploring. This module will reinforce the research methods and skills developed through your previous study and will address philosophical issues underlying management and business research and explain how to select research strategies and designs. It will offer a comprehensive view of methods of data collection and analysis to support the quality and value of research outcomes.

View Essex Business School - Research on our Module Directory

COMPONENT 02: COMPULSORY

This module aims to give first year PhD students an up-to-date and thorough introduction to a range of state-of-the-art methods used in published financial econometrics literature. You’ll also gain an understanding of core methodology and empirical practice of modern financial econometrics, using statistics, mathematical skills, and real-life data.

View Research Methods in Financial Econometrics on our Module Directory

PhD Finance follows a 'three paper' thesis, where you produce three research articles, framed by an introduction and conclusion. Your supervisors will support you to submit these papers to conferences and for publication in international journals, so you can begin to build your international research portfolio well before graduation. You benefit from strong industry links with organisations such as Invesco Perpetual and HSBC. Many of our students have gained internships with international banking institutions and have collaborated with local organisations as part of their PhD.

You begin your studies by meeting with your supervisors and undertaking an intensive induction programme. You attend advanced research methods training and undertake compulsory modules tailored to your individual research needs.

Throughout your PhD, you have regular meetings with your supervisors. You are often asked to write up your ideas or reading notes to help establish good writing practices. By the end of your first year of research, you should have a solid understanding of the key debates in your field and have defined your research questions, outlining your original contribution to knowledge. Our finance students are also expected to have made substantial progress on their first research paper. Those studying via the integrated PhD route (or 1+3) will have completed an additional year to obtain a Masters before beginning their research.

In your second year, you are likely to finalise the design of your own research project and either collect primary data, or access and analyse large scale datasets. You may also make progress on your second research paper. You receive regular feedback on your ideas and findings from your supervisors and are encouraged to develop your own research ideas independently during this year. If you are undertaking fieldwork in another location, your supervisors will still be in touch via email or Skype.

In your final year, you continue to analyse your own research data and further refine your original contribution to knowledge. You will collate your work into a approximately 50-80k words thesis. Our finance students are also expected to make substantial progress on their third research paper.

You may attend a number of conferences in your final year to test out your research findings and thesis on an international stage. Your attendance may be funded by Essex Business School. As well as advising on how to prepare your thesis for examination, your supervisors can advise on future career plans in academia or industry.

Dissertation

Creating a 50-80k word thesis is a significant task. To help you finalise your PhD and produce high quality doctoral research, we have a number of support mechanisms.

You undertake a progress board every six months, where you, your supervisors and an independent chair mark your progress and set objectives for the next period. You are also encouraged to take part in peer group debates and discussions.

Our full-time doctorates are 36 month programmes. At the end of this time, you may be allowed up to 12 months to finish writing up your PhD.

Once you have submitted your thesis, you will be asked to attend a viva voce examination with examiners from within and outside of the University. A viva voce examination usually takes place within three months of submission of thesis.

Home/UK fee

£4,712 per year

International fee

£17,900 per year

Fees will increase for each academic year of study.

Masters fees and funding information

Research (e.g. PhD) fees and funding information

What's next

We hold Open Days for all our applicants throughout the year. Our Colchester Campus events are a great way to find out more about studying at Essex, and give you the chance to:

• tour our campus and accommodation
• find out answers to your questions about our courses, graduate employability, student support and more
• talk to our Fees and Funding team about scholarship opportunities
• meet our students and staff

If the dates of our organised events aren’t suitable for you, feel free to get in touch by emailing [email protected] and we’ll arrange an individual campus tour for you.

2024 Open Days (Colchester Campus)

• Saturday 15 June 2024 - June Open Day
• Saturday 21 September 2024 - September Open Day
• Saturday 26 October 2024 - October Open Day

You can apply for this postgraduate course online . Before you apply, please check our information about necessary documents that we'll ask you to provide as part of your application.

We encourage you to make a preliminary enquiry directly to a potential supervisor or the Graduate Administrator within your chosen Department or School. We encourage the consideration of a brief research proposal prior to the submission of a full application.

We aim to respond to applications within four weeks. If we are able to offer you a place, you will be contacted via email.

For information on our deadline to apply for this course, please see our ‘ how to apply ' information.

Visit Colchester Campus

Set within 200 acres of  award-winning  parkland - Wivenhoe Park  and located two miles from the  historic city centre of Colchester – England's oldest recorded development. Our Colchester Campus is also easily reached from London and Stansted Airport in under one hour.

Virtual tours

If you live too far away to come to Essex (or have a busy lifestyle), no problem. Our 360 degree virtual tour allows you to explore the Colchester Campus from the comfort of your home. Check out our accommodation options, facilities and social spaces.

Exhibitions

Our staff travel the world to speak to people about the courses on offer at Essex. Take a look at our list of exhibition dates to see if we’ll be near you in the future.

At Essex we pride ourselves on being a welcoming and inclusive student community. We offer a wide range of support to individuals and groups of student members who may have specific requirements, interests or responsibilities.

The University makes every effort to ensure that this information on its programme specification is accurate and up-to-date. Exceptionally it can be necessary to make changes, for example to courses, facilities or fees. Examples of such reasons might include, but are not limited to: strikes, other industrial action, staff illness, severe weather, fire, civil commotion, riot, invasion, terrorist attack or threat of terrorist attack (whether declared or not), natural disaster, restrictions imposed by government or public authorities, epidemic or pandemic disease, failure of public utilities or transport systems or the withdrawal/reduction of funding. Changes to courses may for example consist of variations to the content and method of delivery of programmes, courses and other services, to discontinue programmes, courses and other services and to merge or combine programmes or courses. The University will endeavour to keep such changes to a minimum, and will also keep students informed appropriately by updating our programme specifications . The University would inform and engage with you if your course was to be discontinued, and would provide you with options, where appropriate, in line with our Compensation and Refund Policy.

The full Procedures, Rules and Regulations of the University governing how it operates are set out in the Charter, Statutes and Ordinances and in the University Regulations, Policy and Procedures.

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Your future

• Student profiles

PhD students within the Accounting & Finance Department address academically interesting and practical contemporary issues in Finance and Banking. Our Finance scholars’ interest include derivatives pricing and risk management, financial econometrics, international banking, financial regulation, corporate finance and asset pricing and real-estate modelling.

Key information

• Duration 3 to 4 years full-time
• Start date September
• Location Canterbury, Medway

PhD students may join the Centre for Quantitative Finance , which researches contemporary issues in financial markets requiring a quantitative approach. The main role of the centre is to carry out research that fills the gap between academia and current problems faced by the industry, whether in conducting comparative studies on pricing and risk management methodologies, or designing improved financial products that can serve the wider community better, or simply being the first stop for policy makers, hedge funds or finance houses where they could commission quantitative studies on topics they do not have expertise on.

Exchange partners

Kent Business School has excellent links with business schools globally, including in China, USA, Hong Kong, France, Germany, Spain, Sweden and Italy. Our wide array of exchange partners give you the opportunity to gain international experience. Our partners are committed to enhancing their international outlook while providing excellent teaching. You will gain invaluable work experience, develop your understanding of a new culture and improve your language skills.

Our exchange partners include these top ranked institutions amongst others:

• University of Technology, Sydney
• Renmin University of China, School of Business
• University of Hong Kong
• Neoma Business School
• Freie Universitat Berlin
• University of Florence
• IE Madrid University
• Stockholm Business School.

About Kent Business School

Kent Business School has over 25 years’ experience delivering business education. Our portfolio of postgraduate programmes demonstrates the breadth and depth of our expertise. Academic research and links with global business inform our teaching, ensuring a curriculum that is relevant and current. We are a leading UK business school for the standard of our teaching and student satisfaction. We also hold a number of accreditations by professional bodies.

Studying at Kent Business School (KBS) gives you the opportunity to increase your employability with real-life case studies, a student council and a business society. We have strong links to local and national organisations providing opportunities for projects, internships and graduate placements. The School attracts many high-profile speakers from industry and last year included visits and lectures from staff of the Bank of England, BAE Systems, Barclays, Lloyds Insurance, Cummins, Delphi and Kent County Council.

The School currently has 60 PhD students, who form a dynamic and close-knit research community.

Everything you need to know.

Entry requirements, study support.

Applicants should hold a 2.1 at undergraduate level and a Merit at Master’s level in a relevant discipline, from a UK or other approved university and/or equivalent. You must submit a research proposal of approximately 1,500 words on your intended topic.

In Kent Business School, entry to all research programmes is in September only. The deadline for PhD applications is 31 July. 

All applicants are considered on an individual basis and additional qualifications, professional qualifications and relevant experience may also be taken into account when considering applications. 

Please see our International Student website for entry requirements by country  and other relevant information. Due to visa restrictions, students who require a student visa to study cannot study part-time unless undertaking a distance or blended-learning programme with no on-campus provision.

English language entry requirements

This course requires a Good level of English language, equivalent to B2 on CEFR.  

Details on how to meet this requirement can be found on our English Language requirements webpage . 

Examples:  

IELTS 6.0 with a minimum of 5.5 in each component 

PTE Academic 63 with a minimum of 59 in each sub-test 

A degree from a UK university 

A degree from a Majority English Speaking Country 

Need help with English?

Please note that if you are required to meet an English language condition, we offer a number of pre-sessional courses in English for Academic Purposes through Kent International Pathways .

Postgraduate research is a fantastic opportunity and significant investment in your future, enabling you to expand your knowledge, skills and career options – all while making a meaningful impact and contribution to an area you are passionate about.

At Kent, we also recognise the significant financial investment that comes with postgraduate study, and we offer a range of scholarships for our postgraduate researchers, to help keep your mind on your studies, and off your finances.

Scholarships can be broad, or specific to your situation, background or even country – so please do use our scholarships finder to discover the options available to you.

We also have research partnership funding with research councils and government schemes in specific areas of interest that can help you take your research to the next level with additional financial support.

Find out more on our fees and funding page and discover what option is right for you.

Each research student is supported by a supervisory team (usually two members of academic staff) who give guidance about the nature of the research, the standard of work required, and about the relevant literature and sources that should be consulted.

Students meet with supervisors each month in person to agree upon a schedule of work, and bring written work for comment and discussion. The co-supervisor provides additional input and ensures continuity. Formal progression reviews are held at key points in your programme and each student participates in a mandatory research training programme.

All Kent Business School PhD students receive:

• Access to office space with a laptop for the duration of their studies
• Funds for conference attendance and research expenses
• Research methods training
• Full access to the facilities of the Graduate and Researcher College .

All first year PhD students participate in research training programme, including:

• Relevant research methods
• Theory of management and in specialist management topics related to your research
• Skills-based courses in areas such as statistics, computing, electronic literature searching and languages.

In addition, students participate in School research seminars and postgraduate training events organised through the Graduate and Researcher College . PhD students with scholarships or part-time teaching within Kent Business School also take modules from the Postgraduate Certificate in Higher Education.

KBS students benefit from training and development opportunities made available through our membership of NATCOR , the ESRC’s South East Doctoral Training Centre , and the European Doctoral Programmes Association (EDAMBA).

Researcher Development Programme

Kent's Graduate School co-ordinates the Researcher Development Programme for research students, which includes workshops focused on research, specialist and transferable skills. The programme is mapped to the national Researcher Development Framework and covers a diverse range of topics, including subject-specific research skills, research management, personal effectiveness, communication skills, networking and teamworking, and career management skills.

Research activities at Kent Business School are broadly organised into 4 departments:

• Accounting and Finance
• Analytics, Operations and Systems
• Leadership and Management
• Marketing, Entrepreneurship and International Business

The Accounting and Finance department addresses academically interesting and practical contemporary issues in finance and banking. Staff pursue research in several areas, including: derivatives pricing and risk management; financial econometrics; international banking; financial regulation; corporate finance; asset pricing and real-estate modelling.

For more information, see our Applied Research Centre:

• Centre for Quantitative Finance

Staff research interests

Our world-class academics provide research students with excellent supervision. In the  Research Excellence Framework (REF) 2021,  80% of our research was deemed ‘world-leading’ or ‘internationally excellent’. The school’s environment was judged to be conducive to supporting the development of high calibre research.

Kent Business School has over 30 eligible research degree supervisors. Postgraduate research can take place in any subject area where they have expertise.

Please note, it is possible for students to be supervised by a member of academic staff from any of Kent’s schools, providing their expertise matches your research interests. Use our ‘ find a supervisor ’ search to search by staff member or keyword.

Full details of staff research interests can be found on the School's website .

The KBS PhD programme is designed to provide a thorough training for research careers in academia or industry. Our students generally take up academic appointments in UK or international higher education institutions or work in policy or industry settings.

Professional recognition

Kent Business School is a member of the European Foundation for Management Development (EFMD) and the Chartered Association of Business Schools (CABS); and the Kent MBA is an Association of MBAs (AMBA) accredited programme.

In addition, KBS has accredited programmes with the following professional bodies:

• The Chartered Institute of Personnel and Development (CIPD)
• The Chartered Institute of Logistics and Transport (CILT)
• The Chartered Institute of Procurement and Supply (CIPS)
• The Chartered Institute of Marketing (CIM)
• The Chartered Management Institute (CMI)
• The Professional Risk Managers’ International Association (PRMIA)
• The Global Association of Risk Professionals (GARP)
• The Association of Chartered Certified Accountants (ACCA)
• CFA Institute

KBS is a signatory of the United Nation's Principles for Responsible Management Education (PRME), which provides a global network for academic institutions to advance corporate sustainability and social responsibility.

The 2024/25 annual tuition fees for this course are:

For details of when and how to pay fees and charges, please see our Student Finance Guide .

For students continuing on this programme fees will increase year on year by no more than RPI + 3% in each academic year of study except where regulated.* If you are uncertain about your fee status please contact [email protected] .

Your fee status

The University will assess your fee status as part of the application process. If you are uncertain about your fee status you may wish to seek advice from  UKCISA  before applying.

General information

For students continuing on this programme, fees will increase year on year by no more than RPI + 3% in each academic year of study except where regulated.* 

Additional costs

General additional costs.

Find out more about  general additional costs  that you may pay when studying at Kent. 

Search our scholarships finder for possible funding opportunities. You may find it helpful to look at both:

• University and external funds
• Scholarships specific to the academic school delivering this programme.

We have a range of subject-specific awards and scholarships for academic, sporting and musical achievement.

Ready to apply?

Learn more about the  application process  or begin your application by clicking on a link below.

You will be able to choose your preferred year of entry once you have started your application. You can also save and return to your application at any time.

Need help deciding?

Our friendly team is on hand to help you with any queries you have.

Find the right supervisor for your and your research project.

Experience our stunning campuses.

Everything you need to know about applying to Kent from abroad.

Apply for entry to Finance

• Full-time at Canterbury
• Part-time at Canterbury
• Full-time at Medway
• Part-time at Medway

Join our community

Supporting your success

We are here to support your postgraduate journey.

Kent ranked top 50 in The Complete University Guide 2024 .

Support for funding so you can focus on your studies.

Research excellence.

Kent has risen 11 places in THE’s REF 2021 ranking, confirming us as a leading research university.

It’s easy to study on or off campus at Kent – discover what is right for you.

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Course type

Qualification, university name, phd finance in london.

9 degrees at 9 universities in London.

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Bayes business school (formerly cass business school), city, university of london.

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Imperial college business school.

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Newcastle university london.

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EDHEC Phd in Finance

Edhec business school, london.

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Course type:

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Qualification:

Related subjects:.

PhD in Financial Technology

Building on our established PhD in Management programme, we have developed an innovative new doctoral programme in the field of Financial Technology.

PhD in Financial Technology allows students to pursue their own research topic in the area of Financial Technology or apply for specific industry projects, where students will be able to address complex industrial challenges to gain real-world experience.

This programme aims to prepare students for a diverse array of careers in finance. Approximately 50% of students who pursue the industry pathway, can expect to build on the networking opportunities available to them from studying at the international partners' premises during their study and move into a permanent career in that company, or the industry after graduation.

PhD in Financial Technology at a glance

• Study over three years full-time or six years part-time, with an additional 'writing-up' year available to all.
• Develop advanced techniques and in-depth knowledge in the field of Financial Technology.
• Study an independent research topic or participate in fully funded opportunities working with leading industry partners.
• For those on the industry pathway, study both at the University of Edinburgh campus and at an industrial partner's location, with guidance from academic colleagues and industry specialists at all times.
• We encourage our students to aim higher, presenting papers at prestigious conferences and submitting articles for publication.
• Access to a wide range of professional and personal development opportunities during your studies.
• While we invite students from around the globe to join our community, we don't offer this programme online or by distance learning.

Entry requirements

Find out our academic, English language, and application requirements for the PhD in Financial Technology.

Programme overview

View the learning outcomes and a typical training course schedule for a first-year student.

Fees and living expenses

When budgeting please consider associated administration fees and expenses as well as our funding support.

Ready to apply?

Review our application checklist and make your application to the PhD in Financial Technology.

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Our students are smart and capable. They are prepared. They have the technical skills necessary to do the job, working in what are often complex fields.

—By Eli Capilouto, via Kentucky Lantern

But in many cases, I was told in today’s environment, employers need more of what are often called soft skills – the ability to communicate and present, work in teams and navigate job expectations as well as challenging situations and personalities.

It was timely and important feedback. Our Board of Trustees has directed me and our campus to work quickly and intentionally to accelerate our progress in advancing the state. How we prepare students for a growing workforce, and how we prepare more of them, is central to that effort. So, too, is how our institution can move quickly and responsively when the state asks us to do and be more. 

That’s why as part of our work to accelerate Kentucky’s progress, the Board also asked us to closely examine the rules and regulations that guide so much of our work. The rules can either position us for progress or stymie it.

Our board knew how we would respond. We’ve asked more of our community over the last decade. And every time we have delivered. 

We are educating and graduating more students than ever before, extending service further across our state and world, healing more people with more complex illnesses and doing more research that directly addresses our state’s biggest and most important challenges.

But the needs are only growing. There are more economic opportunities than at any time since I’ve been here, but there’s also a lack of skilled workers, prepared for the 21 st century jobs being recruited to Kentucky. We are extending hope and healing to more patients — treating more people than at any time in our hospitals and clinics — but health outcomes in our state still lag. Our research and service capacity must grow to address these issues as well. 

As I have talked to hundreds of people across our campus, I heard repeatedly the desire to be more involved, but the inability to do it under the current rules and governance structures.

Too often, the voices of students and staff, specifically, were discounted or not heard at all in our current governance processes and structures. And too many faculty feel hamstrung by cumbersome rules and byzantine processes. 

I can’t unhear what I’ve heard from our people. And we should be willing to examine what we do and how we can improve.

To be sure, on a campus, members of the community should debate and disagree. Dialogue — whether in support or opposition — almost always leads to better outcomes.

After all, this process of reform through revision isn’t about blaming anyone. It’s about empowering our people and optimizing our processes so we can be aligned with the state’s needs and priorities.

As one staff member told me, “it’s not about your class, it’s about your role.” It’s time that our rules and structures better reflect that. Everyone has something to offer — if given the chance.

That means adding more voices to the table and it means giving more authority to those closest to the decisions around issues like the composition of the curriculum. Faculty at the college level know best what’s happening in their fields and how to be more responsive to our state’s needs. 

The revisions our Board of Trustees gave initial approval to last month clarify and streamline the rules, making authority and responsibilities easier to understand and approvals for new programs more manageable to negotiate.

The suggestion that somehow faculty tomorrow won’t be able to determine grading policies or the language on a course plan is simply inaccurate. Those kinds of basic functions that are part of how faculty manage the curriculum won’t change, nor will our commitment to critical concepts like academic freedom and the essential nature of tenure in that. 

Growing strategically to enroll, prepare and graduate more students for success in careers and life also is not, as some on these pages have suggested, antithetical to our values.

Those are our values. Change can be uncomfortable. That’s why it’s called growing pains. 

Kentucky, though, needs us now to accelerate our progress. And our Board – informed by what our campus has said in community conversations with hundreds of people – is working to reform the rules so we can do more on behalf of the state we were created to serve. That is our calling. It is a moment that I’m confident we will meet.

Eli Capilouto is president of the University of Kentucky.

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