Cass Business School

City, University of London


The Cass Finance Faculty is one of the largest in the world. It comprises over 50 full-time faculty conducting state-of-the-art research in all key areas of finance and it is located within the City of London, the world's most prominent financial centre. The unique and direct access to leading figures from the real world of finance enables us to blend the latest theory and thinking with the latest real-world experience and developments. Our research covers all the core areas of finance - asset pricing, corporate finance and financial markets - but also reflects our strengths in accounting, banking and international finance, mathematical finance and financial econometrics, and real estate and shipping finance.

Entry requirements

Doctor of Philosophy - PhD: You must hold a first degree with top grades (a first or equivalent) in a subject related to your proposed research topic.The following qualifications are highly desirable, and would enhance your likelihood of being accepted: A masters degree from a leading institution with a top grade (distinction or equivalent); and A top GMAT score (700 or more). Our students have a variety of academic backgrounds ranging from Accounting, Actuarial Science and Economics to Engineering, Finance, Management and Mathematics. We are looking for mature, highly-motivated individuals with excellent analytical, problem solving and verbal skills. Please provide details of your intended research proposal in support of your application. This is an important part of your application in which you outline up to two research directions you would like to pursue in your PhD. The research proposal should include: an abstract; the research objectives; the proposed research methodology; a summary review of the relevant literature and current understanding or knowledge; and an indication of how the proposed research will contribute to the discipline. You should also provide an outline work plan for the period of research including consideration of approval of any research ethics implications. You are also asked to comment on why you wish to pursue this research and what you feel you will bring to it. The research proposal should be a maximum of three sides of A4. In addition, if you wish to be considered for a University studentship, you should provide a non-technical summary of your proposed research. This summary should be no more than 400 words.

Course modules

Probability and statistics; Econometrics; Corporate finance theory. Asset pricing; Applied corporate finance; Research methods; Topics in finance; The job market.

Assessment methods

The Finance PhD is usually a four year programme. You are registered on the MPhil degree for the first two years during which you will follow a programme of taught courses and prepare your first research paper. In the first year you will attend a comprehensive set of courses designed to train you in the theory and methods necessary to conduct high quality finance research. In exceptional cases, students that have completed a research-oriented advanced level masters degree are exempted some or all of the first year courses. Your research training continues in this second year with workshops focused on developing specific skills such as academic writing, advanced level reading groups where we delve deeply into key current research papers, and courses introducing you to the practice of learning, teaching and assessment. Alongside this, you will commence research in your chosen topics and the year culminates with the defence of your first research paper before a transfer panel committee. You complete your remaining research papers in years three and four, and will defend your work in the viva voce exam soon after completion of your thesis. Training continues in the final two years but the focus shifts towards preparing you for an academic career. You will attend workshops designed to help you to publish your work and to introduce you to the academic job market.

Sponsorship information

We are offering 16 PhD studentships comprising tuition fees and maintenance grant of £16,057 per annum for four years, starting in October 2016. Studentships also offer funding for conference attendance throughout the four year period. Each year several four-year scholarships are available. These are allocated on a competitive basis across the School. Scholarship students receive a tax-free living support of £16,057 per annum and a full tuition waiver, guaranteed for four years. All Cass students can apply for travel funding for academic conferences if their research paper is accepted for presentation. Students also have the opportunities to teach courses or act as teaching or research assistants to earn extra income and gain valuable experience.


Qualification Study mode Start month Fee Course duration
Doctor of Philosophy - PhD Full-time October 2019 9,700 per Year 1 (International) 4 Years
Doctor of Philosophy - PhD Full-time October 2019 4,600 per Year 1 (Northern Ireland) 4 Years
Doctor of Philosophy - PhD Full-time October 2019 4,600 per Year 1 (Scotland) 4 Years
Doctor of Philosophy - PhD Full-time October 2019 4,600 per Year 1 (Wales) 4 Years
Doctor of Philosophy - PhD Full-time October 2019 4,600 per Year 1 (England) 4 Years
Doctor of Philosophy - PhD Full-time October 2019 4,600 per Year 1 (EU) 4 Years

Campus details

Campus name Town Postcode Region Main campus Campus Partner
Cass Business School EC1Y 8TZ London

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