Doctor of Philosophy in Business Administration in Finance (PhD)
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.
TOEFL (ibT) Overall Score Requirement
IELTS Overall Score Requirement
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 Date01 September 2019
We provide a financial package that includes tuition plus $30,000 per year for the first five years of the PhD Program.
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 EducationWestern 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 EducationBanco de México (2)
Bank of Canada (2)
Ministry of Education - Guyana
Ontario Public Service
Government of the Republic of China (Taiwan)
Royal Bank of Canada
Sample Job Titles Outside Higher EducationStrategic ICT Specialist
Senior Financial Specialist
Consultant / Analyst
Information Organization Manager
Deputy Executive Secretary
Head of Research
PhD Career Outcome SurveyYou may view the full report on career outcomes of UBC PhD graduates on outcomes.grad.ubc.ca.
DisclaimerThe 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.
Tuition / Program Costs
|Fees||Canadian Citizen / Permanent Resident / Refugee / Diplomat||International|
|Installments per year||3||3|
|Tuition per installment||$1,665.26||$2,925.58|
|Tuition per year|
(plus annual increase, usually 2%-5%)
|Int. Tuition Award (ITA) per year (if eligible)||$3,200.00 (-)|
|Other Fees and Costs|
|Student Fees (yearly)||$930.14 (approx.)|
|Costs of living (yearly)||starting at $16,884.10 (check cost calculator)|
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.
Completion Rates & Times
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 Accounting, Financial Assets Evaluation, R&D and Innovation, Technological Innovations, Investments, Stock Market, International Capital and Products Markets, 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 (Finance and Accounting, Economic Phenomena on an Individual or Organizational Level, 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 )
Pflueger, Carolin (Monetary Policy, Inflation, Fixed Income, Corporate Default )
Pikulina, Elena (Institutional investors; Corporate finance; Experimental and behavioral finance)
Skoulakis, Georgios (Portfolio Choice; Asset Pricing; Computational Economics; Econometrics)