Doctor of Philosophy (PhD) in Finance

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The Department of Finance provides a first-class research environment, equipping students with the resources necessary to excel in their academic pursuits. Each doctoral candidate is allocated:

a dedicated office workspace
advanced computing facilities
a supportive community of fellow PhD researchers
personalised regular guidance through meetings with your two dedicated supervisors
comprehensive research methods training

Additional support

St Leonard's Postgraduate College at the University of St Andrews offers supplementary resources and support services, enhancing the overall postgraduate experience.

Academic engagement opportunities

Seminar series

External Speaker Series: regular presentations by renowned scholars in the field
Brown Bag Series: weekly staff seminars promoting internal knowledge sharing

Reading groups

These sessions provide a platform for:

staff and PhD students to present work-in-progress
informal exchange of research ideas
constructive feedback from faculty members in a supportive environment

Annual PhD conference

This flagship event is a mandatory doctoral seminar where:

students showcase their research progress
the entire Business School community engages with ongoing projects
valuable presentation experience is gained in a professional setting

Cultivating excellence

Through this comprehensive approach, the Department of Finance creates an intellectually stimulating atmosphere that nurtures academic growth, fosters innovation and equips you with the skills and knowledge to excel in both academia and industry.

For ideas about research interests in the Department, you can view the latest published research output of our staff on the research portal.

Programme structure

The typical PhD roadmap has the following checkpoints:

Training

During this year you will usually take some modules to complete your training. The specific modules you take will depend on your individual background and will be decided by your potential supervisor and the Director of Postgraduate Research Students.

Research

You will meet regularly with your supervisor and start work on your research. You will contribute to and present your work at the research students’ PhD workshop in May.

Before the end of your first nine months in the programme, you will have a progress review. This review should be based on research completed to date and should include a plan of your work for the remainder of your first year, and for your second and third years. After submitting your written work, you will have a meeting with two reviewers (from the Business School) which will complete your review process.
Training

You may have the opportunity to take part in masterclasses or short training courses on topics or software in other universities, depending on funding. This will increase your knowledge of these topics and allow you to interact with other scholars working in your areas at other universities.

The Easter Training School is intended primarily for advanced postgraduate students doing doctoral research.

Teaching

You may be asked to take part in tutorial teaching for sub-honours classes (first and second year students), which will give you experience and increase your skill set for future employability.

Research

You will be in a more intensive stage of your course, carrying out the necessary research, modelling and empirical studies required for the second and third parts of your thesis. You will be expected to send drafts of your papers to be considered for presentation at PhD student workshops and other conferences.

You will contribute to and present your work at the research students’ PhD workshop in May.

End of second year review: this will be similar to your first year progress review.
You will spend this year trying to complete the research for your thesis and focus on submitting the final draft and having your viva defence.

Teaching

You may continue to carry out undergraduate tutorial teaching and increase your experience as a tutor.

Research

You will be in an intensive stage of your course, carrying out the necessary research, modelling and empirical studies required for the final parts of your thesis. You will be expected to send drafts of your papers to be considered for presentation at PhD student workshops and other conferences. It would also be good to try and complete a draft of a journal article to submit to a reputable refereed journal. All of these are opportunities for valuable feedback on your work before your final submission.

Research methods training

Modules

In the first year of the programme, depending on your background, you may be asked to take some modules from taught MSc programmes. These modules will most likely be from the MSc in Economics, MSc in Finance and Economics degree, or from the modules taught as part of the Scottish Graduate Programme in Economics, either at MSc or PhD level.

Other training options

Enhance your training through masterclasses led by visiting academics or offered by other Scottish economics departments. Additionally, the University of St Andrews provides development opportunities for PhD students through GRADskills and other programmes offered by the Centre for Educational Enhancement and Development (CEED) training unit.

Theses and dissertations

The Department of Finance maintains a repository of PhD theses for viewing. The list of recent submissions offers a partial collection of completed and examined theses from doctoral candidates within the Business School. Please note that some print theses may not be available digitally.

Recent research degree success

Yeliangzi Zheng

Yeliangzi's PhD research into banking and regulatory change followed her taught postgraduate MSc Banking and Finance.