The primary objective of the Finance PhD Program is to educate students of exceptional promise to become outstanding researchers and university-level teachers in the field of finance. Graduates of the Program must have a thorough knowledge of the fundamental concepts and theories in finance, an understanding of financial instruments and markets, and an ability to use financial data to analyze models and evaluate financial decisions.
A student admitted to the Ph.D. Program in Finance is expected to have excellent aptitude, motivation, and preparation for rigorous post-masters-level study in finance. Students entering the program without a master's level degree or related coursework may have to take additional course.
During the first year in the program, the student takes the graduate level course sequence in macroeconomic theory, econometric research tool courses and PhD level courses in asset pricing and corporate finance.
At the end of the first year, the student also must take and pass the Microeconomics Qualifying Examination (the second field exam) administered by the Economics department. During July of the first year, the student must take and pass the Asset Pricing Qualifying and Corporate Finance Qualifying Examinations administered by the Finance Department.
During the first year, the student works on a research paper that much be completed by October 15 of the second year in the program.
In the second year of the program, the student takes advanced PhD-level courses in asset pricing and corporate finance, the finance research reading course as well as macroeconomic theory courses, and additional research tools courses in econometrics and statistics.
After the completion of the second year, the student take and pass the Candidacy Examination. The Candidacy Examination contains written and oral portions and must be scheduled before the start of the third academic year. The written portion of the candidacy exam is given in July between the second and third year of the program and the oral portion of the candidacy exam is given within 30 days of the written portion of the exam as required by the Graduate school of the Ohio State University.
During the third year of the program, the student takes the Finance Research Seminar course, and must complete the Thesis Proposal requirement. To complete the Thesis Proposal requirement, the student has to submit a scientific paper to the Coordinator of the Ph.D. Program by April 15 of the third year of the program. The Coordinator of the Ph.D. Program then evaluates whether the paper is good enough to be presented to the Thesis Proposal Committee consisting of three faculty members before the end of April. If the paper is deemed good enough at the oral presentation that it can develop into a job market paper for the student to participate in the job market in the fifth year, the student had completed the Thesis Proposal requirement. If the paper does not meet that standard, the student has to complete such a paper and defend it in front of a Thesis Proposal Committee by November 15th of the fourth year.
During the fourth year of the program, the student works on their paper to develop it into a job market paper. The student will get teaching experience. Once they have completed a paper that the major advisor believes is suitable for the job market, the student will present it in a seminar.
During the fifth year of the program, the student will go on the job market, complete the dissertation, defend, and graduate, The student is responsible for meeting Gradation deadlines.