Finance Track - PhD
PhD in Business Administration
The PhD in Business Administration, Finance track will offer students the unique opportunity to pursue business research in collaboration with local business leaders. The curriculum is designed to leverage a learning-by-doing model that includes both apprenticing in a functional area and requiring a mentor-practitioner as an integral part of the design of a PhD thesis. The cornerstone of the Finance track is to provide training that facilitates innovations and provides tools for significant research grounded in the business realities of today. Complementing classroom study with field exposure will be key to developing the next generation of leaders in business and academics with the scientific background and skills required to innovate and conduct research to advance knowledge and practices in the financial industry.
Business leaders frequently tell our faculty that they seek two things in doctoral graduates that are hard to find, connection to applied problems and complementary knowledge of accounting. The Finance track of our PhD in Business Administration is well-poised to meet this need for trained professionals in industry as well as academia.
Business leaders turn to researchers – whether they are based in universities or inside the company’s own research operations – for guidance on current practices. Research that is too abstract or too narrowly applied does not serve their purposes. The College of Management’s expertise in translational research, which draws deeply on theory, applied methodological rigor, and converts finding into useful applications, is distinctive for finding the right middle ground.
The Financial Services Forum (Forum) at the College of Management is already established as a premier source of current information and commentary on the health of and critical issues facing the financial services industry in Boston, Massachusetts, and the U.S. Business leaders and academics come together at Forum meetings to address cutting edge questions, such as prospects for recovery after the financial crisis or new ways to understand venture capital as an engine for business development and growth, to revitalize the economy. The Forum has advised on the future of the financial services industry and the effects of the Sarbanes-Oxley act of 2002, grounded in research characterized by rigor and relevance. Through the Forum, College of Management faculty are engaged in a productive dialogue that makes a difference.
Who should apply?
The Finance program track is designed for students who are interested in pursuing a full-time doctoral program specializing in areas such as:
- Corporate finance (e.g., corporate governance and control, executive compensation, capital structure, payout policy, raising capital)
- Investments and asset pricing (e.g., asset management and portfolio analysis, market microstructure, stock-price modeling, fixed-income market, derivative markets, financial systems in emerging markets)
How will my learning experience impact organizations, society, and future global challenges?
The Finance PhD track will prepare students to:
- Conduct translational research, which draws deeply on theory, applied methodological rigor, and with findings that have useful applications in business world.
- Understand various factors that affect the operation of financial institutions/ intermediaries and explore the ways in which risk management is changing at the world's financial institutions in response to the global financial and economic crisis.
- Design, develop and reform financial systems in emerging markets (e.g., Africa, China and India).
What are the career opportunities for me when I graduate?
The PhD in Business Administration, Finance track will provide its students exceptional preparation for successful careers in business and academia. The rigorous training in finance and financial accounting combined with the personalized internships that offer students unique exposure to Boston's dynamic financial environment will help them to achieve their professional goals. Students in this track will be positioned to pursue academic careers in research-oriented business schools, and conduct research in government agencies and institutions, and financial and consulting companies.
What kinds of research are faculty engaged in now?
The PhD program involves close, apprentice-like working relationships with faculty members. A sampling of faculty projects includes:
- ADR Characteristics and Performance in International and Global Indexes
- The Relationship between Incentive Compensation and Performance Related CEO Turnover
- Corporate Governance Ratings and Firm Performance
- Do Investors Value Environmental Capital Spending? Evidence from the Electric Utility Sector in the U.S.
- Co-Managers, Information, and the Secondary Market Liquidity of Initial Public Offerings
- Are CFOs' Trades More Informative than CEOs' Trades?
- Corporate Globalization and Bank Lending
Why Choose UMass Boston?
UMass Boston is recognized as a world-class research university with a reputation for linking research to economic development and public service. Our Finance doctoral program will contribute knowledge that: supports stable markets that investors can trust, particularly in the global context of interdependence of markets; recognizes the interests of shareholders and other stakeholders who rely on business growth and sound financial institutions for their economic well-being; and provides detailed evaluations of cutting edge practices in areas such as private equity funds or venture capitalism. Our Financial Services Forum also expands the reach of UMass Boston into the community, for example, through a recent workshop on financial literacy for teens from low-income communities, offered in partnership with Teen Voices.