This PhD specialisation provides candidates with an in-depth and intensive training programme at the cutting edge of both theoretical and empirical research in finance.

Department of Finance

The Department of Finance is committed to research at the highest international level. There are currently over 30 faculty members and they represent about 20 nationalities. Faculty come from some of the world’s best institutions such as University of Chicago, Wharton, UCLA, Ohio State University, Carnegie Mellon, University of Southern California, London Business School, and London School of Economics.

Faculty members publish their research regularly in the top Finance and Economics journals. These publications have appeared in Journal of Finance, Review of Financial Studies, Journal Financial Economics, American Economic Review, Econometrica, Journal of Political Economy, and Review of Economic Studies. The strong commitment to research has earned the department a top-10 rank in Europe based on research output in top-tier academic Finance journals.

The department runs an international weekly research seminar series in which academics from the world’s best research institutions present their work. These seminars and other visits by international researchers give PhD candidates an excellent opportunity to reflect and receive feedback on their own research. The department also regularly organises conferences and workshops.

The department has access to all the commonly used international databases. Many faculty members also work with unique Norwegian micro data on firms and individuals obtained from official registers. The department hosts the Centre for Asset Pricing Research (CAPR) and the Centre for Corporate Governance Research (CCGR). These centres sponsor and support faculty research groups, conferences, and seminars.

Read more about the Department of Finance

PhD specialisation in Finance

The PhD specialisation in Finance prepares candidates for careers in world leading academic institutions, research-oriented international and national organisations, and the industry. Job market candidates from the department have found employment at premier universities, including London Business School, Tilburg University, University of Melbourne, and NOVA University Lisbon. Local placements in Norway include the Norwegian School of Economics, Financial Supervisory Authority, and Storebrand Asset Management.

The four-year programme offers rigorous training for candidates with strong analytical skills and intellectual curiosity. It follows a standard structure in place at all comparable programmes around the world. The first year is devoted to course work that covers all the major fields in Finance and core topics in Economics relevant for a Finance PhD. BI faculty mainly teaches these courses. The candidates can also take specialised courses and participate in doctoral workshops through the Nordic Finance Network.

The second year of the programme sees candidates transitioning to research work. The candidates will work towards the doctoral dissertation that is typically a collection of three research articles. Research work is done in close co-operation with the supervisor and other faculty members from the department. Projects joint with faculty members often involve collaborators from other research institutions. Candidates also participate in weekly research seminars with international scholars and present their research work at departmental workshops. The research environment is supportive and PhD candidates take actively part in all the social life at the department.

"The Department of Finance consists of highly skilled and passionate academics, thus making it an excellent environment for studying finance. There is a close and enriching interaction between the faculty members and the PhD candidates. The focus is to turn the candidates into good teachers and good researchers with a high intellectual honesty and good work ethics. The course portfolio, the weekly seminars along with the inspiring and supportive community are key ingredients which make this process successful."


BI PhD alumna, Assistant Professor of Finance at Toulouse Business School

PhD scholarships

All PhD candidates receive financial support when accepted into the programme. The candidates are hired as full-time employees on an initial four-year contract. Continuation of the support through the four years of the program is dependent on good standing and regular progress towards completing the programme’s requirements. PhD candidates are entitled to full parental leave and health insurance, and are part of the Norwegian Public Service Pension Fund. The workplace is BI Norwegian Business School at its main campus in Oslo.


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