Doctor of Philosophy in Business Administration in Finance (PhD)

Overview

The PhD Program in Business Administration welcomes applications from individuals planning research-oriented academic careers.

As well as gaining access to a world of knowledge and opportunity, Sauder PhD students benefit from the individual attention they receive from faculty members - right from the outset of the program. Our faculty members devote extensive time, energy and effort to developing the research capabilities of all of our PhD students.

What makes the program unique?

Judging by the standards of research achievement, graduate placement, publications and research grants received, the PhD program in Finance at UBC stands at the top of Canadian business schools and among the first rank of North American programs. 

An active group of skilled junior and senior researchers is a distinguishing feature of the finance faculty at UBC. This translates into a rich and heterogeneous portfolio of research interests ranging from game-theoretic models of corporate finance, to applications of Bayesian analysis in empirical finance, to theoretical modeling of equilibrium asset pricing. The wide research interests of the Division allows substantial flexibility for the PhD student in selecting a thesis research topic. 

Quick Facts

Degree
Doctor of Philosophy
Subject
Business
Mode of delivery
On campus
Registration options
Full-time
Specialization
Finance
Program Components
Dissertation
Faculty
Faculty of Commerce and Business Administration
School
Sauder School of Business

Apply Now

If you don't have a UBC Campus-Wide Login (CWL) please create an account first.

Program Enquiries

If you have reviewed the information on this program page and understand the requirements for this program, you may send an enquiry

Requirements

TOEFL (ibT) Overall Score Requirement

100
22
21
22
21

IELTS Overall Score Requirement

7.0
6.5
6.5
6.5
6.5

GRE required?

GRE or comparable test (check program website)

Deadline Details

Application Deadline

Deadline to submit online application. No changes can be made to the application after submission.

Transcript Deadline

Deadline to upload scans of official transcripts through the applicant portal in support of a submitted application. Information for accessing the applicant portal will be provided after submitting an online application for admission.

Referee Deadline

Deadline for the referees identified in the application for admission to submit references. See Letters of Reference for more information.

September 2020 Intake

Application Open Date
01 September 2019
Canadian Applicants
Application Deadline: 31 December 2019
Transcript Deadline: 18 January 2020
Referee Deadline: 31 January 2020
International Applicants
Application Deadline: 31 December 2019
Transcript Deadline: 18 January 2020
Referee Deadline: 31 January 2020

Funding Sources

We provide a financial package that includes tuition plus $30,000 per year for the first five years of the PhD Program.

Applicants to UBC have access to a variety of funding options, including merit-based (i.e. based on your academic performance) and need-based (i.e. based on your financial situation) opportunities.

We encourage all applicants to review the awards listing to identify potential opportunities to fund your graduate education. The database lists merit-based scholarships and awards and allows for filtering by various criteria, such as domestic vs. international or degree level.

In addition to scholarships and awards, applicants may be eligible to apply for financial aid or other benefits in the form of loans, bursaries, tax credits, or similar.

Career Outcomes

102 students graduated between 2005 and 2013. Of these, career information was obtained for 100 alumni (based on research conducted between Feb-May 2016):


RI (Research-Intensive) Faculty: typically tenure-track faculty positions (equivalent of the North American Assistant Professor, Associate Professor, and Professor positions) in PhD-granting institutions
TI (Teaching-Intensive) Faculty: typically full-time faculty positions in colleges or in institutions not granting PhDs, and teaching faculty at PhD-granting institutions
Term Faculty: faculty in term appointments (e.g. sessional lecturers, visiting assistant professors, etc.)
Sample Employers in Higher Education
Western University (Ontario) (5)
City University of Hong Kong (5)
University of Manitoba (3)
University of British Columbia (3)
Simon Fraser University (3)
University of International Business and Economics (3)
Arizona State University (2)
Boston College (2)
University of Toronto (2)
University of Ottawa (2)
Sample Employers Outside Higher Education
Banco de México (2)
Bank of Canada (2)
IBM Research
Ministry of Education - Guyana
Ontario Public Service
Government of the Republic of China (Taiwan)
Royal Bank of Canada
Sample Job Titles Outside Higher Education
Strategic ICT Specialist
Senior Economist
Research Scientist
Senior Financial Specialist
Economic Staff
Consultant / Analyst
Information Organization Manager
Deputy Executive Secretary
Assistant Chief
Head of Research
PhD Career Outcome Survey
You may view the full report on career outcomes of UBC PhD graduates on outcomes.grad.ubc.ca.
Disclaimer
The data show all specializations in Business Administration combined. These data represent historical employment information and do not guarantee future employment prospects for graduates of this program. They are for informational purposes only. Data were collected through either alumni surveys or internet research.
Career Options

Recent placements of students in the program have included schools such as Columbia Business School, University of Virginia, University of Utah, Arizona State University, University of Oregon, Carnegie Mellon University, University of California at Los Angeles, The University of Texas at Austin and the University of Toronto.

Tuition / Program Costs

FeesCanadian Citizen / Permanent Resident / Refugee / DiplomatInternational
Application Fee$106.00$168.25
Tuition *
Installments per year33
Tuition per installment$1,698.56$2,984.09
Tuition per year
(plus annual increase, usually 2%-5%)
$5,095.68$8,952.27
Int. Tuition Award (ITA) per year (if eligible) $3,200.00 (-)
Other Fees and Costs
Student Fees (yearly)$944.51 (approx.)
Costs of living (yearly)starting at $16,954.00 (check cost calculator)
* Regular, full-time tuition. For on-leave, extension, continuing or part time (if applicable) fees see UBC Calendar.
All fees for the year are subject to adjustment and UBC reserves the right to change any fees without notice at any time, including tuition and student fees. Tuition fees are reviewed annually by the UBC Board of Governors. In recent years, tuition increases have been 2% for continuing domestic students and between 2% and 5% for continuing international students. New students may see higher increases in tuition. Admitted students who defer their admission are subject to the potentially higher tuition fees for incoming students effective at the later program start date. In case of a discrepancy between this webpage and the UBC Calendar, the UBC Calendar entry will be held to be correct.

Statistical Data

Enrolment Data

The following table shows data for all specializations in the PhD in Business Administration combined.
 20182017201620152014
Applications25329122329418
Offers2322132417
New registrations1013121412
Total enrolment6061615961

Completion Rates & Times

This program has a graduation rate of 81.13% based on 53 students admitted between 2006 - 2009. Based on 36 graduations between 2015 - 2018 the minimum time to completion is 1.83 years and the maximum time is 8.00 years with an average of 5.52 years of study. All calculations exclude leave times.
Disclaimer
Admissions data refer to all UBC Vancouver applications, offers, new registrants for each year, May to April [data updated: 22 March 2019]. Enrolment data are based on March 1 snapshots. Program completion data are only provided for datasets comprised of more than 4 individuals. Rates and times of completion depend on a number of variables (e.g. curriculum requirements, student funding), some of which may have changed in recent years for some programs [data updated: 27 October 2019].

Research Supervisors

This list shows faculty members with full supervisory privileges who are affiliated with this program. It is not a comprehensive list of all potential supervisors as faculty from other programs or faculty members without full supervisory privileges can request approvals to supervise graduate students in this program.

  • Baldauf, Markus (Financial Markets; Information Economics; Industrial Organization; Regulation; Market Microstructure )
  • Bena, Jan (Finance and innovation, Finance and product markets, Corporate innovation, Corporate ownership structure, Access to external finance, Financial constraints)
  • Carlson, Murray (Introduction to capital markets, corporate finance, principles of finance, asset pricing)
  • Donaldson, R Glen (Risk management, Volatility forecasting, Asset valuation, Financial econometrics, Financial markets and price behavior)
  • Favilukis, Jack (Consumption and Production Based Asset Pricing; Heterogeneity and Inequality; Incomplete Markets; Real Estate)
  • Fisher, Adlai (Asset pricing, financial econometrics, volatility modelling, corporate finance, mergers and acquisitions)
  • Garlappi, Lorenzo (Asset pricing, credit risk and real options, portfolio choice and asset allocation )
  • Giammarino, Ronald (Corporate finance, real options, market concentration)
  • Gornall, Will (Corporate finance ; Venture capital; Banking)
  • Heinkel, Robert Lee (Theoretical and empirical studies of corporate behaviour due to market imperfections and theoretical and empirical studies of instritutional investment management)
  • Lazrak, Ali (Asset pricing, Corporate Finance, Behavioral Finance, Household portfolio choice)
  • Li, Kai (corporate governance, CEO compensation, mergers and acquisitions, shareholder activism, gender in corporate decision making, board of directors, national culture, innovation, Finance)
  • Ortiz Molina, Hernan (Corporate finance and governance, executive compensations, industrial organization, interactions between real and financial decisions )
  • Pikulina, Elena (Institutional investors; Corporate finance; Experimental and behavioral finance)
  • Skoulakis, Georgios (Portfolio Choice; Asset Pricing; Computational Economics; Econometrics)

Recent Doctoral Citations

  • Dr. Tianyao Zhang
    "Dr. Zhang studied how institutional investors, such as mutual funds, specialize in a different class of assets. Based on empirical evidence, he developed a model that relates an institution's investment horizon with the characteristics of its stock holdings. His work contributes to the understanding of the behavior of financial institutions." (November 2019)
  • Dr. Jiri Knesl
    "Dr. Knesl studied how technological innovations affect firms, households and stock prices. His work connects technological improvements to movements of stock prices by looking at how technology affects different types of labor. His empirical evidence shows a specific connection between macro economy and stock markets." (November 2019)
 

Apply Now

If you don't have a UBC Campus-Wide Login (CWL) please create an account first.
 

September 2020 Intake

Application Open Date
01 September 2019
Canadian Applicant Deadline
31 December 2019
International Applicant Deadline
31 December 2019
 

Supervisor Search

 

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