The Lundquist College of Business Doctoral Program in Finance develops scholars who become productive researchers and effective teachers at colleges and universities that place great importance on scholarly research.
The program emphasizes analytical training in financial economics and quantitative methods and equips students to conduct original research on important problems that are of interest to both academics and practitioners in the field of finance.
Our faculty members are active researchers who publish regularly in scholarly finance journals. The program encourages joint research between faculty and students and maintains a collegial environment conducive to student learning.
Finance PhD Program Coordinator
Associate Professor Youchang Wu
Program Structure
The finance PhD program includes courses and a qualifying examination in finance, courses in economics and statistics, two research papers, and a dissertation. Prior to the first term in the program, most students take a short course on the mathematical tools of economic analysis.
Coursework
Minimum course requirements include four finance PhD seminar courses covering the main areas of finance, including asset pricing theory, asset pricing empirics, corporate finance theory, and corporate finance empirics; three courses in economics; and five courses in statistics or econometrics. In addition, students are required to take three elective courses closely related to the core area of their research and participate in weekly proseminars.
Research Papers
Students write and present research papers at the end of the first year and at the end of the first quarter of the third year of the program. These papers follow the format of the top journals and should represent original theoretical frameworks worthy of pursuing for publication consideration in such journals. The second-year summer paper is expected to be more substantive than the first-year summer paper.
Comprehensive Exam
The comprehensive examination in finance, given in four half-day sessions, is generally taken at the end of June in the student's second year of the PhD program. The exam tests the student’s knowledge in key theoretical and methodological areas, and in doing so, assesses the student’s ability to successfully complete dissertation research.
Dissertation
The student presents a dissertation proposal to the faculty and other PhD students after the dissertation committee agrees that a suitable topic has been chosen and substantial progress has been made toward completion of the project. Ideally, the dissertation proposal is defended by the end of the third year of the program. A successful defense of the proposal results in a written agreement between the student and the committee that acknowledges the project can be successfully completed. A defense of the dissertation is presented when the student and the committee agree that the dissertation is essentially complete. A student making steady progress should complete all of the degree requirements within five years of entering the program.
Other Program Features
The finance PhD program also includes other processes and resources to enhance student productivity and ultimately foster good placement on the academic job market.
Financial Support
Each matriculated student receives a tuition waiver, generous stipend, and access to our expansive graduate student health plan.
Office and Technology
Students are assigned a dedicated workspace and a computer to use for their coursework and research. Students are collocated to enhance knowledge sharing, collaboration, and student culture.
Research Funds
PhD students have access to funds from the PhD program for presenting or acting as a discussant at conferences. Funds are also available for professional development workshops and other general research expenses.
Robin and Roger Best Awards
These awards are given for doctoral research and teaching excellence. They include financial rewards for conference presentations, teaching awards, and journal submission and publication milestones.