Ph.D. in Finance

Overview

The Ph.D. program in Finance prepares students for faculty positions at academic institutions or for professional careers in private industry and government.  During their course of study, students receive specialized instruction in the areas of corporate finance, investments, and financial institutions. The conceptual knowledge and methodological skills necessary to conduct independent research are acquired through courses and individual apprenticeships with faculty.

 

Curriculum

Finance (15 hours)

  • FINN 6043  Finance Theory
  • FINN 6133  Seminar in Investment Theory
  • FINN 6233  Seminar in Corporate Finance
  • FINN 6333  Empirical Research in Finance
  • FINN 6733  Seminar in Financial Markets and Institutions

Economics (21 hours)

  • ECON 5233 Mathematics for Economic Analysis (Summer)
  • ECON 5533 Microeconomics Theory I (Fall)
  • ECON 6233 Microeconomics Theory II (Spring)
  • ECON 6253 Microeconomics Theory III (Fall)
  • ECON 5613 Econometrics I (Fall)
  • ECON 6623 Econometrics II (Spring)
  • ECON 6633 Econometrics III (Spring)

Research Tools (6 hours) Choose 2 of the following courses

  • STAT 5303 Probability Theory (Fall)
  • STAT 5322 Statistical Packages
  • STAT 5343 Stochastic Processes
  • STAT 5353 Methods of Multivariate Analysis II (Spring)
  • STAT 5333 Analysis of Categorical Response
  • STAT 5383 Time Series Analysis

Student may take up to one research tool course approved by the Finance Department doctoral student advisor if the research tool course is not listed above.

 

Faculty Research Interests and Highlights

The faculty are actively engaged in research across a broad array of topics that include: corporate finance issues such as dividend and capital structure policy, acquisitions and mergers, distress and financial restructuring; regulation and rate of return setting process; investments and financial market issues such as stock market efficiency, credit risk and corporate bond ratings, portfolio diversification and derivative hedging strategies, exchange rate risk exposure, and mutual fund performance; as well as institutional issues such as corporate governance, executive compensation, corporate ownership, and shareholder voting rights.

Program Structure

The Ph.D. program in Finance requires 42 credit hours of coursework. Five seminars (15 credit hours) in financial theory and research are required. The remaining credit hours, distributed across two supporting areas, economics and research tools, are customized in consultation with the departmental doctoral program advisor. In addition, students must complete a research paper requirement, pass a written and an oral comprehensive exam, as well as successfully defend and conclude an approved doctoral thesis.

"While I was at the Walton College, I had an opportunity to work with world class faculty who tremendously helped me find my dream academic job."

Dobrina Georgieva, Ph.D.
Assistant Professor of Finance
University of St. Thomas in Minneapolis/St. Paul

 

 

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