Department of Finance

PhD Program

The Department of Finance runs a successful PhD Program with 19 PhD students of different nationalities currently enrolled

The PhD program in Finance

The aim of our PhD program is to produce PhD candidates at a high international level. In addition to learning how to conduct research at an international level, students will acquire a broad theoretical and methodological insight into the discipline of finance.

Selection criteria

To be considered for a PhD position in Finance, the candidate should have a basic training at the Master’s level (similar to the 3 + 2 Bologna process). The applicant must have successfully completed the Master’s degree before commencing as PhD student at CBS, but we also welcome applications from individuals close to completion of the Master’s degree. Generally, a completed MBA education does not fulfill this requirement. The applicants must be fluent in English. The successful applicant must have a record of top grades from previously completed programs. Priority will be given to candidates who have both a strong quantitative background and strong previous training in financial economics.

We require students to take an active part in the academic life of the department. We welcome students under the Industrial PhD program, but we discourage students who seek to complete a PhD as a part-time project.

Deadline and preparing an application

Our next deadline will be in the Spring of 2018.

Applications which do not comply with the formalities stated in the announcement – including the procedures for filing the application – will not be taken into consideration.
We strongly encourage letters of support from current or past supervisors and professors as well as documentation of GRE and/or GMAT scores. Students must also provide documentation for English language skills.
While the project description is an important part of assessing the applicant’s current ability to formulate research questions and to compare with existing literature, we realize that research is a dynamic process that may take unexpected turns, and the applicant should therefore not consider the project statement as a binding commitment.

The organization of the program

The Department of Finance offers core courses in asset pricing, corporate finance and in empirical finance/financial econometrics. Furthermore, intensive courses in more specific financial or methodological subjects are offered continuously as part of the activities of the Nordic Finance Network (NFN), of which CBS is an active member.

PhD students participate in the department PhD seminar series in which they present their research. They also have the opportunity to present at lunch seminars and to submit their work to the annual Nordic PhD workshop which is part of NFN’s activities. Presentations at workshops and submitting work for conferences are an essential part of research training.
All scholarships initially cover a three-year period of study. Extended funding is available for successful candidates who wish to pursue a university career.

Further questions

Please consult the announcement (see the link above) for questions of salary and employment.
See here for the general regulation of the PhD program at Copenhagen Business School.

You can find the information material from the PhD in Finance Information Meeting hosted in March 2017 here.

Current students

The names and websites of our current PhD students can also be found here.


An important measure of the success of our program is the placement of our candidates. Our program has been increasingly successful in placing students at leading business schools or strong research groups in financial institutions. Past placements include BI Oslo, UVA Darden School of Business, WU Vienna University of Economics and Business, Cass Business School, London Business School, EPFL in Lausanne, Federal Reserve Bank of New York, Federal Reserve Bank of San Francisco and Goldman Sachs, London, and in leading Danish financial institutions.
You can find our current and former job market candidates and see our PhD placements here


The page was last edited by: Department of Finance // 04/07/2017