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Ph.D.

in Finance, Management or Accounting

Blog
FS Blog
Stage Image
Degree
Ph.D.

Language
EN

Scholarship
Stipend & Tuition Waiver

Programme Start
September

Duration
5 Years

Application Deadline
15 January

Programme Overview

Frankfurt School of Finance & Management is one of Europe’s leading business schools with an internationally recognized reputation for leading research. We are determined to attract the most talented PhD students in accounting, finance and management and we offer a stimulating academic environment.

Our faculty have placed students at international universities and research institutions, including HEC Montréal, ESE Rotterdam, Georgetown University, St. Gallen, CityU Hong Kong, NOVA Lissabon, WU Vienna, NEOMA Business School, Technical University of Munich, University of California.

The five year PhD programme commences with intensive course work (term 1 to 3). PhD students focus on research techniques and methods as well as on their chosen area of academic specialization in Accounting, Finance or Management.

The Master of Business Research & Analytics (MBRA) is an integrated part of the programme. After the first two years of the programme, students have the opportunity to receive the Master’s degree as part of their PhD programme.

While our primary intention is providing graduates with an ideal platform to enter the world of academia, their research topics are also directly relevant for business and politics. We train our students to develop solutions to complex problems and to develop social and conceptual skills they need to advise others. Our faculty provides high-quality supervision and an exciting state-of-the-art campus environment.

Upon successful completion of studies and research results, Frankfurt School awards a PhD degree in economics, Dr. rer. pol., the German equivalent to the PhD.

Frankfurt School offers fully-funded study places and a generous monthly stipend for up to five years.

Curriculum

In the first year and a half, PhD students attend core courses, elective courses and concentration courses in their respective academic specialization. In this phase they obtain the knowledge and skills to engage in their own research.

The three specializations: Accounting, Finance and Management follow a similar structure.

Semester 1 - 3

Mathematics and Statistics

This class sets the foundations for later applications of analytical methods. This includes linear algebra, calculus, optimization, and probabilistic inference. Frankfurt School also offers a preparatory mathematics class in the summer, for those aiming to brush up before entering this course.

Microeconomics

A graduate-level micro-economics course. It begins with consumer decision making and general equilibrium, followed by game theory. Also covered are bi-forms, i.e. the combination of the two game theoretic solution concepts as applied by incomplete contract theory.

Concentration Courses

Each student chooses a concentration before starting the programme and work together with the professors of the respective department throughout the entire PhD programme. Each concentration has a set curriculum of core modules and electives to be completed.

Finance Concentration

Management Concentration

Accounting Concentration

Econometrics

The class provides key knowledge on how different econometric models work and most importantly sheds light on their limitations. The course also provides step by step application of new tools to different data sets in the computer lab. You will be asked to replicate, and in some cases improve, prior empirical studies.

Advanced Empirical Methods

This course covers extensions to standard regression techniques and offers alternatives. Bayesian statistics, prediction and validation, simulation models, and machine-learning techniques are among the key topics.

Independent Study Courses

Throughout the year students are welcome to attend various seminars related to their concentrations where internal and external researchers present their work and the audience involves itself in an exchange of thoughts and discussions on the topic. 

The sessions take place on a weekly basis and students have the opportunity to meet the speakers and faculty members before or after the seminars and engage in individual discussions.

More information & dates

Semester 4

2nd Year Paper

To enter the research phase of the programme, students need to pass a qualifying exam and submit a second year paper.

It is the first research paper the students deliver, that is: the first piece of their very own presentable research work.

Semester 5 - 10

Research, Dessertation & Defence

The aim of the research phase is for candidates to dedicate themselves to their research projects, produce scholarly papers and present their research at international academic conferences. They also have the opportunity to interact with international scholars visiting Frankfurt School to present research in the seminar series.

Concentrations

Accounting
Management
Finance
Prof. Dr. Jutta Stumpf-Wollersheim
Prof. Dr. Jutta Stumpf-Wollersheim
finished her doctoral studies at Frankfurt School and is now a professor at Technische Universität Bergakademie Freiberg.

“My studies in the management concentration helped me to build a strong network with scholars and practitioners alike that remains very valuable for my academic career. The freedom that I enjoyed with regard to my research topic was an important advantage.”

Prof. Dr. Jutta Stumpf-Wollersheim,
finished her doctoral studies at Frankfurt School and is now a professor at Technische Universität Bergakademie Freiberg.
Prof. Dr. Jörg R. Werner
Prof. Dr. Jörg R. Werner
Professor of Accounting, Head Accounting Department

“Accounting provides tools helping to locate responsibility, to prevent fraud and to measure profitability. These phenomena continue to give rise to numerous relevant research questions. Many of them are yet unanswered, awaiting the awareness of talented and motivated students from all over the world.”

Prof. Dr. Jörg R. Werner,
Professor of Accounting, Head Accounting Department
Prof. Dr. Michael Koetter
Prof. Dr. Michael Koetter
Professor of Banking and Finance

“We seek to attract the most talented students from all over the world. Working with these students through a rigorous course towards excellent research is one of the great perks of this job for me.”

Prof. Dr. Michael Koetter,
Professor of Banking and Finance

Take your research abroad

As well as doing your research on campus, you also have the flexibility to pursue your PhD studies abroad, in a country and university of your choice. Our faculty facilitates you with connections in global leading universities. This gives you the opportunity to present your research to experts in your field and build a network with recognised professors.

Expanding your academic network will not only support your final research but will also open doors for your career and future placement opportunities.

Matthias Lassak

PhD Programme in Finance

Wharton School at the University of Pennsylvania

During your time abroad you are encouraged to take courses alongside international researchers and will have the opportunity to attend several conferences. This will allow you to not only participate as an expectator but also present your work.

Frankfurt School is able to provide financial support towards your international experience. Each candidate's monetary award and period of time spent abroad will be arranged on an individual basis in accordance to the research department.

Ruishen Zhang

PhD Programme in Accounting

MIT Sloan School of Management

Student funding and scholarships

Frankfurt School offers eight fully-funded study places for the PhD programme in order to attract and support the brightest minds in academia.

Students are expected to devote 100% of their working time to their masters and PhD studies at Frankfurt School for up to five years.

Funding includes a tuition fee waiver and a cost-of-living stipend. The monthly stipend comprises of € 1,200.

The stipend will be granted for five years conditional on the continued satisfaction of all academic programme requirements.

From the second year onwards PhD students may receive an additional € 400 for their involvement as a teaching or research assistant. Frankfurt School students thus have a total of €1,600 for their living expenses.

Furthermore Frankfurt School covers costs related to research, including conferences and overseas visits.

Application process

1. Target Group

Outstanding graduates of a Bachelor‘s or Master’s programme in business administration, finance, management, accounting or related fields who aspire to launch an academic career.

Candidates in the final year of a Master’s or Bachelor’s programme are welcome to apply with their most recent academic transcript. Please note that the degree has to be completed by the time of the beginning of the PhD. The expected grade of the applicants may not be less than a “B” grade point average or 75% of the achievable credits. Foreign degrees will be checked regarding their equivalence.

2. Online Application

The first step of our application process is to complete the online application form. You will need to upload the following required documents. Please note that you need a certified English or German translation for all documents, that are not originally in German or English. The application platform will open from September 15th until January 15th.

Required Documents

  • CV and list of publications (if existent)
  • Certified copy of your University Entrance Qualification (Abitur, A-levels or equivalent)
  • Certified copy of your University Degree Certificate or equivalent and academic transcript of records
  • Official GMAT or GRE results
  • Proof of English Language Proficiency Test (TOEFL IBT min. score of 100/IELTS min. score of 7.0)
  • Two letters of recommendation from a former academic tutor or from another person in an academic environment.
  • Statement of purpose and research interest (description of a possible research project, 2-5 pages, demonstrating how the candidate plans to apply his/her particular interests, skills and expertise to the pursuit of his/her academic objectives)
Application Checklist
Apply

3. Interview

Successful applicants will be invited to a Skype interview with faculty members of the chosen concentration.

4. Results

The final decision regarding admission to our PhD programme will be made by the Committee for PhD Proceedings. It is based on the applicants overall portfolio and the interview.

GMAT Preparation Course

The GMAT is a challenging exam requiring substantial preparation for optimal performance. This course provides students with all the essential tips and necessary preparation for high performance and excellent exam results.

Find out more!

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