Doctorate of Philosophy in Finance (PhD in Finance)

Doctorate of Philosophy in Finance is a research-based doctoral program in finance. This program provides an extensive study in Finance and its related streams like Cost & Management Accounting, Industrial growth, Globalisation and Privatisation, Business environment etc.

Through the structure of the curriculum, the scholars will get opportunities to explore the financial products and markets. By pursuing this highest education qualification, the aspirants will get various career options to build their career.

Skills Required for joining a PhD in Finance

• Analytical skills: the research scholars in Finance should develop an analytical skill. Analytical skill means the ability to understand and analyse the searched facts and information, its interpretation and suggestion measures for solving problems.
• Managerial Skills: Managerial skills consists of elements like planning, communication, decision-making, and interpersonal skills. For conducting as a research process, the research scholar should possess these managerial skills to handle and explain their findings and desired result with others.
• Leadership Skills: A researcher is considered as a leader of his/her research work. So, he/she should be an active listener to collect and record the responses from the area of study and the ability to deliver the messages and ideas.
• Logical ability: the research process and its derivation of results should be logical. That means the findings and interpretation should be based on evidence and facts.

Highlights of the Course

Course Type	Doctorates
Full-form	Doctorate of philosophy in Finance
Duration	3- 5 years
Eligibility	Postgraduation in Economics. Accountancy or Mathematics
Employment Areas	Financial institutions,
Job Types	Stockbroker, Statistician, Finance Manager

Course Type

PhD in Finance is a doctoral program in Finance. This course can be pursued either on a full-time and part-time basis.

Duration of the Course

Normally, the duration of PhD in Finance is 3 to 5 years. But this will vary to more than 5 years. This variation depends on the selected topic the feasibility of the research works and so on.

Eligibility of the Course

The minimum eligibility for the PhD program in Finance is a Master’s degree in Accountancy, Economics, Mathematics and its allied subjects with a minimum mark of 55% from any recognised university. The students who have a Master of Philosophy (M.Phil) can also apply for the program. 

Admission Process

• Each University has its standards and mode to select PhD Scholars.
• Generally, the research scholar should have their research proposals that include the topic of their research works, data collection method, relevance and significance of the selected topic and so on. That means a proposal should include the entire outline of your research work.
• Some universities prefer scholars who have qualified National Eligibility Test (NET) and Junior Research Fellowships (JRF).
• In addition to these, some universities may conduct their entrance examinations for shortlisting the candidates for the interview rounds.

Syllabus of the Program

PhD programs are not as simple as undergraduate programs. The extension of the duration, its difficulty and standard depend on the syllabus structure and feasibility of the selected topics. Since PhD in Finance is a research-based program will have limited course work. This will broaden the scholar’s views and strategies for developing a thesis and its related works. The syllabus structure of the PhD program will vary from universities. 

Financial and Management Accounting, Business Environment, Financial Management, Business Economics, Business Statistics and Data Processing, Marketing Management, Human Resource Management, and Banking and Financial Institution etc. are the major areas covered under this program

Business Environment

• Second Generation reforms
• Privatization and Globalization
• Planning Policy
• Meaning and definition of Business Environment
• Liberalization
• Legal Environment of Business in India
• Industrial Policy
• Industrial Growth and Structural Changes
• Environment protection
• Economic Policy
• Consumer Protection
• Competition Policy

Financial and Management Accounting

• Valuation of Shares
• Responsibility Accounting
• Ratio Analysis
• Partnership Accounts
• Liquidation
• Financial Statements
• Cost and Management Accounting
• Capital and Revenue
• Basic Accounting Concept
• Advanced Company Accounts

Business Economics

• Sampling Errors
• Utility analysis
• Price determination in different Market Situations
• Nature and Uses of Business Economics
• Laws of Variable Proportion
• Laws of Returns
• Elasticity of Demand
• Demand Analysis
• Concept of Profit and Wealth Maximization

Business Statistics and Data Processing

• Data types
• Data Processing
• Data Collection and Analysis
• Correlation and Regression
• Computer Application to Functional Area
• Analysis and Interpretation of data

Business Management

• Staffing
• Principles of Management
• Planning Process
• Organizational Culture and Structure
• Organizing
• Leadership and Control
• Decision Making
• Business Ethics and Corporate Governance

Marketing Management

• Product decision
• Pricing, Distribution and Promotion
• Marketing Planning
• Marketing Mix
• Marketing Environment
• Evolution of Marketing
• Concepts of Marketing

Financial Management

• Working Capital Management
• Financial and Operating Leverage
• Dividend Policy
• Cost of capital; Capital Budgeting
• Capital Structure

Human Resource Management

• Training and Development
• Succession Planning
• Role and Functions of HRM
• Recruitment and Selection
• Performance Appraisal
• Industrial Relations
• HR Planning
• Compensation

Banking and Financial Institution

• Reserve Bank of India
• NABARD and Rural Banking
• Importance of Banking to Business
• Types of Banks
• E-Banking
• Development of Banking
• Banking Sector Reforms in India

Career Prospects of Doctorates in Finance

The doctorates in Finance have immense career options in both the private and public sectors. Some of the employment areas are as follows:

Employment Areas

• Multinational Companies
• Financial institutions
• Educational Institution
• Investment Industry
• Budget planning

Job Roles

• Stockbroker
• Relationship Manager
• Assistant professor
• Statistician 
• Financial Managers