phd finance norway

This PhD specialisation provides candidates with an in-depth and intensive training programme at the cutting edge of both theoretical and empirical research in Finance.

• Start date: August 2024

PhD specialisation in Finance

The PhD specialisation in Finance prepares candidates for careers in world leading academic institutions, research-oriented international and national organisations, and the industry. Job market candidates from the department have found employment at premier universities including London Business School, Tilburg University, University of Melbourne, NOVA University Lisbon, Norwegian School of Economics (NHH), Central University of Finance and Economics (CUFE) and National Chengchi University (NCCU). Local placements in Norway include Boston Consulting Group, Financial Supervisory Authority, and Storebrand. We encourage candidates with solid quantitative and analytical skills, and a strong background in disciplines such as Finance, Economics, Statistics, and Mathematics to apply.

The four-year study programme leading to a PhD degree is designed to allow you to conduct in-depth research. In addition, it is comprised by a course component, seminars, PhD committees, pre-doctoral defence, and lastly, dissertation and final defence. 25% of the time is reserved for teaching.

Distinguishing features of the specialisation

The four-year programme offers rigorous training for candidates with strong analytical skills and intellectual curiosity. It follows a standard structure in place at all comparable programmes around the world. The first year is devoted to course work that covers all the major fields in Finance and core topics in Economics relevant for a Finance PhD. BI faculty mainly teaches these courses. The candidates can also take specialised courses and participate in doctoral workshops through the Nordic Finance Network.

The second year of the programme sees candidates transitioning to research work that continues through to the end of the programme. Candidates will work towards the doctoral dissertation that is typically a collection of three research articles. Research work is done in close co-operation with the supervisor and other faculty members from the department. Projects joint with faculty members often involve collaborators from other research institutions. Candidates also participate in weekly research seminars with international scholars and present their research work at departmental workshops. The research environment is supportive and PhD candidates take actively part in all the social life at the department.

Meet Renata Silva de Almeida who shares her experience as a PhD candidate

Professor paul ehling discusses the advantages of being a phd candidate at bi, fully funded scholarships.

All PhD candidates receive financial support when accepted into the programme. The candidates are hired as full-time employees on an initial four-year contract. Continuation of the support through the four years of the program is dependent on good standing and regular progress towards completing the programme’s requirements. PhD candidates are entitled to full parental leave and health insurance, and are part of the Norwegian Public Service Pension Fund. The workplace is BI Norwegian Business School at its main campus in Oslo.

What you can expect

The four-year study programme leading to a PhD degree is designed to allow you to conduct in-depth research. In addition, it is comprised of a course component, seminars, PhD committees, pre-doctoral defence, and lastly, dissertation and final defence. 25% of the time is reserved for teaching.

Entry requirements

How to apply, course plan.

Below you will find an overview of the courses included in the programme and when they are offered.

A PhD from BI can be a gateway to prestigious placements at universities around the world. Below are examples of positions obtained by recent graduates of BI's PhD programme.

Department of Finance

The Department of Finance is ranked 10th in Europe, and 2nd in the Nordic countries, based on top-finance publications 2013-2017 (U of Texas Dallas rankings). BI hosted the European Finance Association (EFA) Annual Meeting in 2016 and in 1996. The department is committed to research at the highest international level and faculty members currently represent about 20 different nationalities. Faculty come from some of the world’s best institutions such as University of Chicago, Wharton, UCLA, Ohio State University, Carnegie Mellon, University of Southern California, London Business School, and London School of Economics.

Faculty members publish their research regularly in the top Finance and Economics journals. These publications have appeared in Journal of Finance, Review of Financial Studies, Journal Financial Economics, American Economic Review, Econometrica, Journal of Political Economy, and Review of Economic Studies. The strong commitment to research has earned the department a top-10 rank in Europe based on research output in top-tier academic Finance journals.

The department runs an international weekly research seminar series in which academics from the world’s best research institutions present their work. These seminars and other visits by international researchers give PhD candidates an excellent opportunity to reflect and receive feedback on their own research. The department also regularly organises conferences and workshops.

The department has access to all the commonly used international databases. Many faculty members also work with unique Norwegian micro data on firms and individuals obtained from official registers. The department hosts the Centre for Asset Pricing Research (CAPR) and the Centre for Corporate Governance Research (CCGR). These centres sponsor and support faculty research groups, conferences, and seminars.

• Read more about the Department of Finance

Paul Ehling

Professor - Department of Finance

PhD alumna in Finance

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Doctoral degree and PhD

The University offers research training of a high international standard, with a broad range of subject areas and strong research environments. A doctorate from the University of Oslo qualifies candidates for an academic career as well as other professions requiring a high level of competence.

Before applying

To be eligible for admission to a PhD programme, certain educational and financial requirements must be met. If you have not applied to a PhD programme before, we recommend that you read this before you proceed to the programme pages.

Facts about the PhD programmes

• Requires a completed Master’s degree.
• Stipulated length of three years’ full-time studies.
• 2.5 years of independent research work.
• Educational component worth 30 credits.
• In 2018, 468 PhD candidates successfully defended their theses at the University of Oslo.

PhD programmes

Each faculty has its own PhD programme. The programme pages give details on how to apply, the programme structure, thesis and public defence.

PhD in the Humanities

PhD at The Faculty of Law

PhD in medicine and health sciences

PhD at The Faculty of Dentistry

PhD at The Faculty of Mathematics and Natural Sciences

PhD in Social Science

PhD at The Faculty of Theology

PhD at the Faculty of Educational Sciences

Courses and seminars

Find information on courses and seminars offered at PhD level.

Doctoral conferment

When your doctoral examination is approved by the faculty, you will be invited to a conferral ceremony in the University’s ceremonial hall, the Aula.

Public defences

Dr.philos. – another route to a doctoral degree.

The Dr.Philos. degree (Doctor Philosophiae) is awarded to academics who have qualified for a doctoral degree on their own, without formal supervision. They have no affiliation to the university as a doctoral candidate until their application for the doctoral examination has been approved.

Contact information

Questions about PhD and doctoral degrees?

Regulations

The research training is governed by the Act relating to universities and university colleges and local regulations.

Jobs at UiO

Browse through available doctoral research fellowships , read more about working as a researcher at UiO, and find the support site for international researchers.

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PhD education

A PhD degree is the highest level of formalized education in Norway.

A doctoral degree from NTNU qualifies you to a range of positions both in the private and public sector. Though academia has traditionally been the main career path, an increasing number of doctors are going into leading positions in the private sector.

The doctoral education at NTNU is structured in various PhD programmes and gaining access to a PhD programme is a prerequisite for completing a PhD.

Find PhD programme

KRYSSPUBLISERT - PhD - Admission and financing - ID 1295482685 (sharing)

In addition to a master's degree or equivalent and a strong academic record, financing is an absolute requirement for admission to a PhD programme . Funding can be both through NTNU and other sources. Available PhD positions at NTNU are continuously posted online.

Programme components

The PhD education is a structured degree with a nominal duration of three-year full-time study . Some PhD positions may include a fourth year of required duties, usually in the form of teaching, this will be detailed in your employee contract if applicable.

• The programme consists of at least 30 ECTS of coursework, and an independent academic work in the form of a doctoral thesis estimated to 2.5 years.
• A PhD degree requires a great deal of independence and capacity for completion
• The final thesis should contribute to the development of new scientific knowledge and meet international standards in the field
• PhD education at NTNU is internationally oriented
• You are expected to contribute to international conferences and publish in international peer-reviewed journals
• It is possible to complete part of your studies abroad, either in the form of a prolonged research stay or by completing some of your courses abroad

KRYSSPUBLISERT - PhD - Dr.philos. degree - ID 1295512303 (sharing)

Dr.philos. degree.

It is possible to complete a doctoral degree outside of a structured PhD education. This is called a dr.philos. degree and is a completely independent non-supervised academic work where your first formal contact with the university will be upon handing in your thesis.

Joint PhD course database

A number of joint projects have been launched to support the vision of Nordic Five Tech as an extended campus. One of them is this joint PhD course database . The aim of this initiative is to increase mobility for our PhD students within the five universities and further strengthen the alliance by encouraging more research cooperation.

If you are a PhD student at one of the Nordic Five Tech universities you do not have to pay for participating in courses registered in this database . Please note that the database also includes non-technical PhD courses.

* Nordic Five Tech universities is an alliance of the five leading technical universities in Denmark, Finland, Norway and Sweden.

• Chalmers University Of Technology , Gothenburg, Sweden
• Aalto University , Helsinki, Finland (Former Helsinki University Of Technology, TKK)
• Norwegian University of Science And Technology (NTNU), Trondheim, Norway
• Royal Institute Of Technology (KTH) , Stockholm, Sweden
• Technical University Of Denmark (DTU) , Lyngby, Denmark

Doctoral awards ceremony

New doctors

krysspublisert ID: 1263188355 For existing PhD candidates

For existing phd candidates.

• PhD Handbook
• Information for current PhD candidates

Resources for Postdoctoral Fellows

Vacancies at NTNU  – also about working at NTNU and practical information.

Research and Innovation

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• NMBU student

Doctoral degree Full time Economics and Business

Admission to the PhD programme at the School of Economics and Business conditions the applicant to document:

- grade A or B on the master's thesis,

- average grade B or above on courses included in the master’s degree (120 credits),

- average grade C or above on courses included in the bachelor’s degree (180 credits), or

- equivalent grades from previous education with other grading systems/ grading scales.

Relevant academic backgrounds will be a master's degree in economics, economics and business administration, entrepreneurship and innovation, or similar programmes relevant to the PhD project.  An MBA degree does not fulfill the requirements for admission.

Our vacant PhD positions (research fellow) are announced in February every year under vacant positions:  https://www.nmbu.no/en/about/vacancies

Start of Studies :

The aim of the programme is to qualify candidates for research of international standard within all the department’s subject areas, and for other work that require scientific insight and analytical thinking and skills.

As a PhD student at the school, you become part of an international and ambitious research environment. You get to work closely with renowned researchers, conduct independent research and develop your teaching skills. As a PhD student, you will also participate in one or more of the faculty's research groups.

The School of Economics and Business offers professional specialization in economics, finance, organizational theory, innovation, entrepreneurship and management.

Career opportunities

The PhD programme in Economics and Business shall qualify candidates for research of international standard within all the department’s subject areas, and for other work where there are high demands on scientific insight and analytical thinking. 

Upon completing the doctoral degree, you will be awarded the title PhD (Philosophiae doctor).

Learning outcomes

LEARNING OUTCOMES

On completion of the PhD programme, the new doctor is expected to:

* Have in-depth knowledge in the chosen subject area and be at the forefront of knowledge within their specific area of research.

* Have in-depth knowledge about scientific theories and methods within the field.

* Be able to assess and analyze different theories, methods and processes in research and academic development projects, also from an international perspective.

* Be able to contribute to the development of new knowledge, new theories and methods in the field.

* Be able to formulate research issues, and to plan and conduct research and academic development work of high international standards within the subject area.

* Be able to handle complex scientific questions and to challenge established knowledge and practice in the field.

* Be able to contribute to the development of new knowledge, new theories and methods within their subject area, master relevant social science and statistical methods and be able to assess the utility and limitations of different methods.

* Be able to handle complexity, create an overview and synthesize scientific information.

* Be able to perform critical assessments and give constructive criticism on scientific work in their field.

GENERAL COMPETENCE

* Be able to conduct the research with professional and ethical integrity, and to identify new relevant ethical issues.

* Be able to participate in complex interdisciplinary tasks and projects.

* Be able to disseminate research and development work through recognized national and international channels, and to participate in scientific debates in international forums.

* Be able to disseminate the research findings to the authorities and public administration, to companies and organizations, and to the general public through contact with the media.

* Be able to teach students within their subject area or field of specialization.

* Be able to place own research in broad academic and societal contexts.

* Be able to assess the need for and, if required, stimulate innovation in the field.

Exchange possibilities

NMBU facilitates national and international exchanges. Part of the doctoral work or doctoral courses may be taken at other Norwegian or foreign academic institutions when it can be incorporated into the plans, and funding has been secured.

Program structure

ACADEMIC CONTENT AND STRUCTURE

The PhD programme in Economics and Business is based at NMBU¿s School of Economics and Business. The programme is based on the general description of the PhD education at NMBU, and is regulated by the Regulations for the Degree of Philosophiae Doctor (PhD) at the Norwegian University of Life Sciences. Supplementary regulations are given by the department.

The programme has a nominal duration of three years. The programme consists of required coursework and a thesis. The course package must contain a minimum of 45 credits and is put together in collaboration with the candidate, the supervisor and the department (the research committee), depending on the subject area of the thesis and the candidate¿s background and needs.

The coursework must provide knowledge about the forefront of research in the field, i.e. ongoing research and unanswered questions. Courses both at NMBU and other higher education institutions may be included in the degree. Students are also encouraged to spend one to two semesters at recognized universities abroad, if possible.

The thesis usually consists of 3-4 articles, and the candidate must demonstrate through the choice of analysis methods and research issues that he/she is capable of conducting independent research work of high quality. Publishing findings in good international journals is an important goal.

PhD students must submit annual progress reports on a standard form by 1. February every year. Deviations from the plan must be explained. The requirement of a progress report is set out in section 9.1. PhD students and supervisors share responsibility for progress.

All PhD candidates must attend three regular seminars at the Department (see section 9.1): an introductory seminar after approximately 6 months, a midway assessment seminar after approximately 1.5-2 years and a final seminar approximately 6 months before submitting the doctoral thesis. The midway assessment seminar must be carried out in accordance with section 9.2. The seminars are considered to be part of the required coursework and quality assurance of the PhD programme, and will give the students useful feedback for the work ahead.

More about the program

Societal relevance.

The PhD programme in Economics and Business shall qualify candidates for research of international standard within all the department's subject areas, and for other work where there are high demands on scientific insight and analytical thinking. Students must learn to work in accordance with recognized principles of academic and research ethics. The objective of the PhD education is to give candidates knowledge, skills and expertise in line with the Norwegian qualifications framework.

Learning activities

MEANS OF ACQUIRING THE KNOWLEDGE

* The required coursework of at least 45 academic credits, which offers comprehensive in-depth competence.

* Reading and keeping updated on literature within their field of specialization.

* Completing an independent work of research of international standard.

MEANS OF ACQUIRING THE SKILLS

* Participating in planning and shaping the PhD project in detail and, if applicable, participating in the planning of new project applications.

* Supervision and own research, where the PhD candidate actively benefits from the competence of the supervisory team.

* Developing his/her own international academic network.

* Attending courses on research methods and writing when relevant.

* Working on publications, submissions to journals and handling comments from referees.

* Working on the thesis.

* Participating in peer review of scientific manuscripts, giving feedback on colleagues' manuscripts.

* Attending seminars where other PhD students' and researchers' ideas and results are discussed.

MEANS OF ACHIEVING GENERAL COMPETENCE

* Taking a course on research ethics and philosophy of science with a scope of at least 5 credits.

* Supervision and own research.

* Working on publications and the thesis.

* The trial lecture. The trial lecture requires familiarization with a specified topic quickly, time management, searching for / selecting / evaluating / processing information, and giving an oral presentation of this topic.

* Presenting own research findings at national and international scientific conferences.

* Giving lectures at conferences and scientific meetings.

* Giving interviews on radio and TV, in newspapers or other journals.

Examination

The degree of philosophiae doctor (PhD) is conferred on the basis of:

* Approved completion of the required coursework

* An approved doctoral thesis

* An approved trial lecture on a specified topic

* An approved public defense of the doctoral thesis (disputation)

Arrangements students from partner universities

Study advisor(s) :.

Kirsti Pettersen

PhD programmes

As a PhD candidate at OsloMet, you can expect a high-quality research education in a supportive academic environment.

At OsloMet, you will be a full-fledged member of our research community and will join a supportive and diverse community of academics. We have a large and growing number of international doctoral candidates and are committed to attracting talented aspiring researchers from around the world.

Many alumni of our PhD programmes pursue careers in academia, while others go on to high-level careers in the public and private sector—both in Norway and around the world.

PhD candidates in Norway are not students, but employees. Research fellows who are employed by a Norwegian university can expect some of the best working conditions in the world. As you work toward your doctoral degree, you will enjoy a good salary and a host of benefits, including five weeks of paid holiday.

You can also pursue a PhD at OsloMet while working for a different employer, either in Norway or elsewhere in the world.

• Pilestredet Campus, Oslo

All of our PhD positions are publicly advertised. You can view current available PhD positions in our job portal. 

• Job openings

Interested in learning more?

You can find detailed information about our PhD programmes, including application procedures and how to apply for funding, on our employee website. 

• Admission and funding (ansatt.oslomet.no)
• Getting started (ansatt.oslomet.no)
• During your PhD (ansatt.oslomet.no)
• Completion of your PhD (ansatt.oslomet.no)

Upcoming public defences

• Pilestredet Campus
• Faculty of Social Sciences / Department of Social Work, Child Welfare and Social Policy / Work Research Institute
• PhD defences
• Faculty of Health Sciences
• Faculty of Technology, Art and Design

Life in Oslo

Are you considering applying for a PhD or academic position at a Norwegian university? We asked the experts—our own international employees—for their advice on how to navigate the transition to working in Norway.

What defines quality of life in a city? Is it the availability of good restaurants, bars and entertainment options? Or is it easy access to unspoilt nature? In Oslo, you don’t have to choose between the two—we have plenty of both.

The sun doesn't set until close to midnight, and even then it never really gets dark. You can spend the evening watching the light change at an outdoor café with friends, or go for a relaxing swim in the fjord alone. Oslo in the summer is a pretty magical place.

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PhD in Finance - Oslo, Norway

The Department of Finance at BI Norwegian Business School is inviting applications for doctoral scholarships, start date August 2024.

Department of Finance

The department is committed to research at the highest international level. There are currently over 30 faculty members and they represent about 20 nationalities. Faculty come from some of the world’s best institutions such as Brown University, Carnegie Mellon, Copenhagen Business School, London Business School, London School of Economics, Ohio State University, Swiss Finance Institute, Tilburg University, University of Chicago, UCLA, University of Southern California, and University of Texas at Austin.

Faculty members publish their research regularly in the top Finance and Economics journals. These publications have appeared in Journal of Finance, Review of Financial Studies, Journal Financial Economics, American Economic Review, Econometrica, Journal of Political Economy, and Review of Economic Studies. The strong commitment to research has earned the department a top-10 rank in Europe based on research output in top-tier academic Finance journals.

The department runs an international weekly research seminar series in which academics from the world’s best research institutions present their work. These seminars and other visits by international researchers give PhD candidates an excellent opportunity to reflect and receive feedback on their own research. The department also regularly organizes conferences and workshops.

The department has access to all the commonly used international databases. Many faculty members also work with unique Norwegian micro data on firms and individuals obtained from official registers. The department hosts the Centre for Asset Pricing Research (CAPR) and the Centre for Corporate Governance Research (CCGR). These centers sponsor and support faculty research groups, conferences, and seminars.

PhD specialization in Finance

The PhD specialization in Finance prepares candidates for careers in the world’s leading academic institutions, research-oriented international and national organizations, and the industry. Job market candidates from the department have found employment at premier universities, including London Business School, Tilburg University, University of Melbourne, and NOVA University Lisbon. Local placements in Norway include the Norwegian School of Economics, Financial Supervisory Authority, Boston Consulting Group, and Storebrand.

The four-year program offers rigorous training for candidates with strong analytical skills and intellectual curiosity. It follows a standard structure in place at all comparable programs around the world. The first year is devoted to course work that covers all the major fields in Finance and core topics in Economics relevant for a Finance PhD. These courses are mainly taught by BI faculty. The candidates can also take specialized courses and participate in doctoral workshops through the  Nordic Finance Network.

The second year of the program sees candidates transitioning to research work. The candidates will work towards the doctoral dissertation that is typically a collection of three research articles.

Research work is done in close co-operation with the supervisor and other faculty members from the department. Projects joint with faculty members often involve collaborators from other research institutions. Candidates also participate in weekly research seminars with international scholars and present their research work at departmental workshops. The research environment is supportive and PhD candidates take actively part in all the social life at the department.

Additional information, including detailed course plans, may be found  here

Funding 

The four-year scholarship is set according to the Norwegian State Salary Scale and currently pays NOK 540.300,- annually. The position is linked to The Norwegian Public Service Pension Fund (Statens Pensjonskasse). The scholarship involves 25% teaching obligation.

Application timeline and submission rules 

The application and its attached documents can be submitted only electronically by using the "Send Application" button on the right hand side in this announcement. E-mail or hard copy applications will not be accepted. Kindly note that all documents need to have reached the Doctoral Administration by the deadline stated in this announcement in order to be considered. The only exception to this rule are candidates who are completing their Master’s degree in 2024 and do not have a final certificate when applying. You will not be able to revise your application once it has been submitted.

Application requirements 

We encourage applications from candidates who have solid quantitative skills and a strong background in disciplines such as Finance, Economics, Statistics, and Mathematics. Strong communication and analytical skills are also crucial for successful completion of the program. If applicants are otherwise equally qualified, female applicants will be given preference.

We welcome research interests, theoretical or empirical, in all areas of Finance. These include, but are not limited to, asset pricing, corporate finance, behavioral finance, household finance, corporate governance, asset management, banking and financial institutions, and market microstructure.

The following list details the formal application requirements:

 A. Academic record

Eligible applicants must have completed a Master of Science degree with thesis work, a Research Masters/M.Phil degree, or a comparable degree relevant for the specialisation in Finance by the time the program starts in early autumn of 2024, with a grade point average of B or higher. An MBA degree does not fulfill the requirements for admission.

B. GRE / GMAT 

Applicants who hold a Master’s degree from an institution in an EU/EEA country are strongly encouraged to take either the GMAT or the GRE test. Applicants whose Master’s degree is not from an institution in an EU/EEA country are required to take either the GMAT or the GRE test.

We will need percentile scores and raw scores for the Verbal, Quantitative and Analytical Writing sections of the GRE or GMAT to consider your application. Incomplete sections or partial scores are not sufficient to consider your application. A “good score” is generally considered to be 85% and higher. However, there is no minimum cutoff score for the GRE/GMAT in order for your file to be reviewed.

C. TOEFL / IELTS 

Applicants must take either TOEFL or IELTS. The minimum standards for test scores acceptable for admission are:

TOEFL – a total score of 575 points for the written test or 233 for the computer-based version or 90 points on the internet based test

IELTS – a score of 6.5

Exemptions are made for applicants:

whose native language is English

who have two years or more of higher education where the language of instruction was English

from a country which is a member of the EU/EEA and/or the Council of Europe/UNESCO- Cepes, who have English as the first foreign language taken over a period of at least 7 years in primary school, secondary school and upper secondary education.

Under certain circumstances, applicants may request a waiver for the TOEFL or IELTS when applying for admission. To request a TOEFL/IELTS waiver, the applicant must submit a  waiver form.

TOEFL / IETLS scores must be from within the last two years. The codes for BI Norwegian Business School are as follows: GMAT 0529, TOEFL 0529, GRE 7365. For IELTS we accept copies as long as the TRF number is visible.

D. Materials to be uploaded in the electronic application

You are required to upload the following electronically with your application:

CV, recommendation letters, statement of purpose, and selected academic work

Full CV / resume. In addition to the usual items, this should include a complete list of all research work, including publications (if any), thesis work, and other documented relevant research activities.

Letters of recommendations from people who can assess your suitability for doctoral studies. These people would ideally by academics who have taught you, supervised your research work, or have other relevant information about your potential as a researcher. If such people are not available, non-academic professional people can also provide a letter with an emphasis on your research potential. A minimum of two letters is required. Please arrange with the people submitting recommendation letters to email their recommendations to  [email protected]  by the application deadline.

Statement of purpose describing your plans and motivation for PhD studies and your career objectives. The statement should be written in English and should not exceed 1000 words.

One selected academic work showcasing your previous academic output. This can be a copy of your Master’s thesis or other relevant research work.

Certificates, test results, and verification document

Certificate of a Master of Science degree or equivalent, including transcript of grades.

Certificate of a Bachelor degree or equivalent, including transcript of grades.

A  Diploma supplement  or a similar document, describing in detail the study and grade system and the rights for further studies associated with the obtained degree.

Other relevant certificates and transcripts

Certificates from previously completed courses at the doctoral level if requesting approval of these for the PhD program at BI Norwegian Business School (see last section of § 2-1 in our PhD Regulations)

Test scores GMAT/GRE and TOEFL/IELTS (if these are not sent directly by the test center)

Signed  verification document.

Interviews and additional information

Candidates may, at a later stage, be asked to forward further information and/or be called in for an interview.

Information about the doctoral program and admission requirements can be obtained from the Doctoral Administration at BI Norwegian Business School. E-mail:  [email protected]

Sustainable Finance

Gain deep insight into the role of finance in the global economy, and the adoption of sustainable technologies and practices in response to the challenges and trends concerning social and environmental issues. The programme will focus on the core economic theories that address sustainability and ESG issues, their macroeconomic aspects, and corporate dimensions.

You will acquire an in-depth understanding of how it affects financial management and how financial constraints may limit or support corporate action towards these issues. By using and applying systematic and quantitative tools and methods within finance, you will be equipped to analyse and assess the impact, risks and benefits, of ESG and sustainability in the context of corporate decisions and development. The programme will also address ethical issues that may arise when trying to balance the interests of investors, employees, other stakeholders, and society. By being introduced to a variety of relevant and real-world cases, you will be trained and experienced in critical thinking, problem-solving and working individually and in teams.

Entry requirements

• Admission requirements for all Master of Science programmes
• Programme specific admission requirements for Master of Science in Sustainable Finance

BI Norwegian Business School - campus Oslo

Priority application deadline for Master of Science: 1 March After 1 March, applications are accepted on a rolling basis.

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PhD in Finance (PhD) BI Norwegian Business School Oslo

Program details, minimum cost of living, requirements.

About BI Norwegian Business School:

BI Norwegian Business School is a self-owned foundation whose sole purpose is teaching and research. They are the only Norwegian business school with triple international accreditation. BI was established on June 1, 1943, just a few months after Finn Øien first got the idea, and the operation started just as quickly. Today, BI is the only business school in Norway that has achieved triple accreditation, among 1 percent of all business schools worldwide.

BI has established itself in the top tier of European business schools. The school has achieved this through respectable results from international research journals, a promising development in the Financial Times and Economist's rankings, the acquisition of the three most prestigious international accreditations a business school can hold, and with a stronger financial basis than ever before for further progress.

About Norway :

Norway is the northernmost country in Europe and includes a great variety of natural scenery. It is an amazing place to study abroad. Studying abroad in Norway will be a challenging but rewarding experience.

About the city:

Located on the Akerselva River in the South East of Norway, is the beautiful city of Oslo. As well as being the country’s capital and cultural heart, Oslo is also the gateway to Norway's natural beauty. Saltwater runs deep in the veins of this sophisticated city. In recent years the rugged dock areas that launched so many adventures have been reinvented into an entertainment hub. Fashionable cafes and restaurants sit easily here amidst centuries of history. The Aker Byrgge district is a popular meeting place for both locals and visitors, wander along this historic area lined with lots of shops. 

Take a PhD at UiB!

PhD education gives you the possibility of working in academia and doing in-depth research on the field of your interest. A need for challenging research in climate change combined with the prospects of a good work-life balance brought Ina Nagler from Austria and the Netherlands to a PhD programme in Bergen. 

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Originally from Austria, Ina considered several options before she ended up on the west coast of Norway. She has always had a fascination for the country, but the research environment was more decisive.  - I also knew that the salary was good, and that work-life balance was valued. I believe that you should enjoy what you’re doing, without working yourself to death, says Ina. 

Super-nice work environment

In Austria PhDs are paid little and used as cheap labour, Ina explains. In Norway, PhDs are paid an ordinary salary.  Her work is on climate change, which is a big, cross-disciplinary topic at the University of Bergen.  - I am working on how climate change will affect our ocean currents. And I am specifically looking at the North Atlantic subpolar gyre.  This gyre is a cold, circulating ocean current south of Iceland, Greenland and the coast of Canada.  - I am looking for changes in the ocean circulation in models, and then I will look for similar processes in paleo reconstructions.  She will specifically look at how the subpolar gyre interacts with the rest of the system during changes. There will be signs of these processes in paleo archives found in sediments on the sea bottom. This can confirm both if the climate models are working well, and if the interpretation of paleo-data is correct. 

People are all very friendly and welcoming. When I accepted the job offer, I felt like it could provide me with this challenge that I need to thrive, but also a general feeling of belonging and contentment, in a way

- A direct comparison of the physical processes within models and paleo data has not been done yet and may lead to surprises. 

Ina has only positive things to say about her colleagues: - It’s a super-nice work environment. I’m part of the Bjerknes Centre for Climate Research, so I came quickly in contact with different scientist working on the big issues of climate change. People know each other, and you can just go and talk with them. People are all very friendly and welcoming.  When I got the job, the deciding factor was the feeling that I got during the interview. It was a committee of five people, and I felt like they could provide me with this challenge that I need to thrive, but also a general feeling of belonging and contentment, in a way. Happiness!

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- And I love being by the sea and in the craziest nature at the same time! Bergen is still big enough that you don’t feel that there is nothing to do. I was a bit scared about the night life and a lack of cultural experiences, but I have found that there are nice places to go to, and the cultural life is surprisingly good. 

Although working hard on her project she doesn’t work excessively long hours.  - I am surprised how much you are encouraged to take time off. I normally start at 8 am every day, and go home at 4 pm, she says.  There are many other PhDs at the university, and Ina normally has lunch with the others on her floor.  - We’re like 8 people, and we go on weekend trips and hikes together, and we drink together. There’s a huge international culture here. So even if you’re an international student here you don’t have to be afraid to be alone. Some people say it’s difficult to get in touch with Norwegians, but personally, I haven’t experienced this.

Ina recommends a PhD in Bergen for other students:  - Given that you’re confident about working independently, and that you feel at ease with your supervisor: Sure! And the most important thing is that you like to dive into a topic and enjoy finding out new things so much that you will endure setbacks that might come.  The mix of staff was a positive experience for her:  - I am surprised by how many female staff there are here in Bergen. There is still room for improvement, but the university is clear on wanting to improve the still existing gender imbalance.

She has meetings with her supervisor once a week.  - I was afraid of not knowing how to do a PhD. But my supervisor told me from the beginning that we’re together on this, and he helps me. 

Ina also tries to communicate with as many of her colleagues as possible, both PhDs and post-docs, and she gets tips from them on what they would have done differently in their PhDs.  - But I haven’t started teaching yet. But there is a PhD forum where you meet once a month and learn skills. We had one seminar on mental well-being, but also one on how to write a CV. Last month they went to a mountain and made a fire, so it’s diverse! If you want, you can go to a seminar every day. 

Now, she has a good feeling about her whole PhD.  - I feel confident about the work on my project. To be a PhD you need to be sure that you can work independently. And if you have a good supervisor by your side, there is nothing that can go wrong!

Why become a doctoral candidate at UiB?

Do you have a master’s degree, and want to pursue your research interest even further? Do you like varied work with the chance of doing research, dissemination and teaching?

PhD education gives you the possibility of working in academia and doing in-depth research on the field of your interest. You will be paid during the three or four years of your doctoral education.

How is the workday?

As a PhD candidate, you will work in an environment of committed research colleagues. You will be able to decide on your work schedule, as long as you are not engaged in PhD courses, teaching, conferences or deadlines in the project.

You will be trained to become a highly skilled analytic. At the same time, you will meet students through teaching duties and solve research questions with others in your research group – answers to questions that will provide an impact on society.  

You will be able to travel abroad for research stays, join national and international conferences where you meet passionate researchers within your own field.

At UiB you will work in an egalitarian structure, where you will be given responsibility and shown confidence from the head of research.

Motivated? Skills to make you prosper

In order to succeed as a PhD candidate, you need to be structured and take initiatives. You need to see the value of teamwork. It is definitely an asset if you enjoy teaching and dissemination. In return, PhD education gives you a lot of opportunities!  

Your rights as an employee

As a PhD research fellow, you receive a salary and obtain temporary staff employee rights. If you become a parent or become ill, you have the right to take paid leave from your research. Thus, the end-date of your fellowship will become extended.

How to apply for admission to the PhD programme?

Admission requires that you have completed a Master’s education, normally of at least five years. Full funding is also required, in addition to a PhD project description. The remaining requirements differ between faculties, academic fields and the specific PhD research fellow vacancy. For more information on faculty-specific requirements, please see faculty-list out to the right on this page.

Broadly speaking there are two ways to fund your PhD education. Firstly, you can apply for and receive a PhD research fellowship at UiB. The research fellowships are announced at Vacant positions at UiB . If you have obtained a PhD position at UiB, some faculties will admit you to the PhD programme in the same process. At other faculties the fellowship recruitment and admission to the PhD programme will be somewhat separated. The faculty relevant for your academic field can inform you on the applicable arrangement.

A second way to obtain funding, is through a research fellowship or other kinds of funding through a private firm or public institution outside of UiB.

If you have funding and employer external to UiB you will in all instances need to apply for admission to the PhD programme in a separate process. If this applies to you, please contact relevant faculty.

If you have both funding and employer from outside of Norway, here is information on some practical and formal matters:  International PhD students with external financing

Paid PhD education with diverse tasks and research findings for the public good.

How to obtain funding?

Have a look at Vacant positions at UiB

Central criteria

A completed master’s degree. You must be dedicated and independent, but also willing to share and disseminate.

The PhD programmes

Faculty of Humanities

Faculty of Mathematics and Natural Sciences

Faculty of Medicine

Faculty of Social Sciences

Faculty of Law

Faculty of Psychology

Faculty of Fine Art, Music and Design

Life as a PhD candidate at UiB

PhD Finance programs in Norway

Mathematics and physics.

University of Stavanger

BI Norwegian Business School

Norwegian School of Economics and Business Administration

Mathematics — analysis and differential geometry.

University of Tromso (The Arctic University of Norway)

Deadline information, best universities with finance in norway.

Bachelor Finance programs in Norway

Master Finance programs in Norway

Most Popular Finance programs in Norway

PhD Finance programs in Norway

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PhD specialisation in Accounting and Auditing

The specialisation offers an active and dynamic research environment in our three main research areas: Management Accounting; Financial Accounting and Auditing; and Economics, Ethics and Law. Faculty members are dedicated to guiding and supporting PhD candidates in their research education.

The PhD specialisation in Accounting and Auditing includes a diverse course portfolio inside and outside the department. Our PhD candidates are actively encouraged to make use of the opportunities in engaging in our international network for course work as well as for other research activities.

PhD positions are posted on NHH's Vacant postions-site when available.

Areas of research

• Financial Accounting and Auditing
• Management Accounting and Control
• Economics, Ethics and Law

PhD courses

A minimum of 45 credits need to be completed normally within the second year

PhD candidates are also encouraged to attend short specialisation courses at other Scandinavian or European Universities. Once a year, all PhD candidates meet at the PhD day - a lively workshop where they present and discuss each other’s work.

Requirements for admission

Applicants should hold a Master’s degree in business administration, economics, or comparable discipline.  It is beneficial if applicants have a background in either quantitative or qualitative empirical methods. They should also be fluent in English. Moreover, non-Scandinavian applicants should complement their application with recent GMAT or GRE tests.

General admission requirements

Research environment

Every PhD candidate is provided with office space, computer facilities and administrative support. We make a particular effort to include the PhD candidates in the research activities of the department.  We also arrange the possibility for PhD candidates to pay a long term visit to foreign institution that are part of the department’s networks.

PHD STUDENTS AND PROJECTS

Here you can meet the current PhD students at the Department of Accounting, Auditing and Law and find out more about their projects.

• Eva Annette Litlabø
• Saad Bin Anis
• David Ogudugu
• Anna Eitrem
• Winson Tsun Hin Chiu
• Rusha Nandy
• Rieke Sophie Kohn
• Kamilla Elise Ose Hobber

Former PhD-students

• Hussnain Bashir 2022
• Andreas Ulfsten 2022
• Ibrahim Pelja 2022
• Dan-Richard Knudsen 2022
• Shrey Nishchal 2021
• Christian Andvik 2021
• Bjarne Møller 2021
• Charlotte Haugland Sundkvist 2021
• Kyrre Kjellevold 2020
• Svein Abrahamsen 2020
• Grete Helle 2019
• Peter Frii 2019
• Hilde Kinserdal 2017
• Hildegunn Løken Sandal 2016
• Galina Goncharenko 2016
• Kjell Ove Røsok 2016
• Danielius Valuckas 2016
• Alena Golyagina 2016
• Patricia Wellmeyer 2016
• Anita Meidell 2016
• Han Wu 2016
• Carmen Olsen 201 5
• Karl Sæbjørn Kjøllesdal  2014
• Jeff Downing  2013
• Ellen H. Marthinsen Kulset  2013
• Tor-Erik Olsen 2012
• Cathrine Kleppestø 2011
• Anne Isabelle Robbestad 2011
• Ken Blindheim 2010
• Na Zhou 2010
• Leif Atle Beisland 2009 
• Jonas Gaudernack 2008  
• Liv Bente Hannevik Friestad 2008
• Jiozhou Wang 2007 
• Finn Kinserdal 2006 (in Norwegian)
• The Department of Accounting, Auditing and Law
• PhD Programme
• About the PhD programme

GPT-4 is better than humans at financial forecasting, new study shows

• OpenAI's GPT-4 is better than humans at analyzing financial statements and making forecasts, according to a new study.
• "Even without any narrative or industry-specific information, the LLM outperforms financial analysts in its ability to predict earnings changes," the study found.
• Trading strategies based on GPT-4 also delivered more profitable results than the stock market.

OpenAI's GPT-4 proved to be a better financial analyst than humans, according to a new study.

The findings could upend the financial services industry that, like other business sectors, is racing to adopt generative AI technologies.

According to the study conducted by the Booth School of Business at the University of Chicago, the large language model did a better job of analyzing financial statements and making predictions based on those statements.

"Even without any narrative or industry-specific information, the LLM outperforms financial analysts in its ability to predict earnings changes," the study said. "The LLM exhibits a relative advantage over human analysts in situations when the analysts tend to struggle."

The study utilized "chain-of-thought" prompts that directed GPT-4 to identify trends in financial statements and calculate different financial ratios. From there, the large language model analyzed the information and predicted future earnings results.

"When we use the chain of thought prompt to emulate human reasoning, we find that GPT achieves an accuracy of 60%, which is remarkably higher than that achieved by the analysts," the study said. The human analysts were closer to the low 50% range with regard to prediction accuracy.

The large language models' ability to recognize financial patterns and business concepts with incomplete information suggests that the technology should play a key role in financial decision-making going forward, according to the study's authors.

Finally, the study found that applying GPT-4's financial acumen to trading strategies produced more profitable trading, with higher share ratios and alpha that ultimately beat the stock market.

"We find that the long-short strategy based on GPT forecasts outperforms the market and generates significant alphas and Sharpe ratios," the study said. 

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