Doctoral Programs

The Finance Concentration 

Other Requirements

Student Advising: Students must prepare their program of study ahead of time and in consultation with the Finance Ph.D. Coordinator.

First Year Review: Every student's progress is evaluated at the end of the first year. A student may be asked to take the core examination if the finance faculty is not satisfied with his/her progress during the first year. The core examination consists of two parts:

                • Core Examination in Research Methods: Students are responsible for quantitative material (probability, statistics, and regression) covered in their first year courses.
                • Core Examination in Finance: Students are responsible for financial economics material covered in their first year courses.

Students must take both written examinations. If the student's performance in these examinations is not satisfactory, he/she will be asked to leave the program.

The topic covered in the "First Summer Paper" must be approved by the Finance Ph.D. Coordinator. The student will present his/her paper to finance faculty.

Second Year Review: Every student is expected to take the comprehensive examination in finance at the end of the second year. This examination will be generally offered in the last week of August in each year. The Ph.D. Finance coordinator solicits ideas from all finance faculties about the questions that should be asked. The Ph.D. Finance coordinator will prepare the examination. Questions dealing with the student's minor and thesis areas will be formulated by a faculty member familiar with the students work. The written examination is designed to cover broad areas in Finance and test for breadth of knowledge and ability to synthesize theoretical and empirical work.

Upon unsatisfactory performance, the student may be asked to take an oral exam, write a paper, retake the examination, or asked to leave the program.

The topic covered in the "Second Summer Paper" must be approved by the Finance Ph.D. Coordinator. The student may be asked to present his/her paper to finance faculty.

The Ph.D. Proposal Defense: This should contain the main idea of the dissertation that must be the student's original thought(s). It must also demonstrate the whole spectrum of related issues that will be tackled in the final form of the dissertation. It must clearly describe what the dissertation seeks to accomplish and its anticipated contribution to the Finance literature. By this time most students identify a faculty as their Dissertation Chair. The student and the Dissertation Chair will then decide on a dissertation committee of at least three faculty members, two of whom must be from the Finance faculty. At this point the student should notify the SOM Ph.D. Director and Finance Coordinator of the date for the Ph.D. proposal defense. The proposal must be defended within the full presence of Finance faculty and graduate students. Before the formal defense takes place, the student is expected to present his/her work in the Finance Workshop (SOM 894W).

Dissertation (Ph.D. Thesis): This is the last requirement before a student's graduation. After the student has successfully solved all remaining problems in the dissertation and satisfied all demands of the members of the dissertation committee, and upon the initiative of the dissertation chair, the date of the dissertation defense is scheduled and all faculty and students are invited to attend and ask questions. Upon the successful defense of the dissertation, as judged by the dissertation committee, the student may proceed with the deposit of the final copy of the dissertation according to the guidelines set by the Graduate School. Upon the recommendation of the dissertation committee, the student may further revise the dissertation if additional questions have come up during the defense presentation.