PhD in Finance (PhD-FIN)

The PhD-FIN program fosters excellence in teaching, learning and research using the American model of higher education, while recognizing the distinctive culture and organizational forms and practices of the Gulf region. The nature of the program will generate both professors and experts employed outside of academia who are able to further the development and publication of their knowledge while training a new generation of scholars steeped in innovative thinking.

Graduates of the PhD-FIN program will be prepared to:

• critique methods of research and academic inquiry in the field of finance
• reconcile the results of research in the business field of study with extant theory
• identify, investigate and synthesize complex issues within the field by applying a range of analytical tools and theoretical models
• communicate research outcomes effectively to academic and practitioner audiences both orally and in writing
• publish scholarship in peer-reviewed journals related to business administration and finance
• teach effectively and disseminate fundamental knowledge in the field of study and related areas in business administration
• uphold standards of ethical academic conduct

BUS 701

Philosophical Foundations of Business Research (3-0-3)

Covers the philosophical foundations of social science research. Explores the different stages of the research process, including the formulation of a research problem, writing and publishing the research results. Presents key differences in qualitative and quantitative research and explains the relationship between theory and practice. Restricted to PhD-FIN students who matriculated into the major. 

 BUS 703

 Advanced Applied Econometrics (3-0-3)

Builds a range of quantitative research skills using tools required to do empirical research.  Covers a variety of methods commonly employed in empirical business research, including panel data, discriminant analysis, non-parametric methods, and introduction to GMM estimation techniques. Requires a strong background in quantitative methods. Restricted to PhD-FIN students who matriculated into the major.

 BUS 704

 Applied Time Series Analysis (3-0-3)

  Examines the characteristics of time series data, moving average models and partial autocorrelation as foundations for analysis of time series data. Draws on the use of exploratory data analysis techniques to explore trends in time series data, forecast using time series data, implement ARMA and    ARIMA time series models, and identify and interpret various patterns for intervention effects. Incorporates ARCH and AR models in multivariate time series contexts. Requires a strong background in quantitative methods. Restricted to PhD-FIN students who matriculated into the major. 

 FIN 711

  Finance Theory (3-0-3)

Develops a firm foundation in financial theory and covers fundamental and complex issues in both asset pricing and corporate finance. Develops skills in the appraisal of finance theory and the critical assessment of key issues in finance. Restricted to PhD-FIN students who matriculated into the major. 

 FIN 712

 Contemporary Issues in Financial Research (3-0-3)

 Examines a range of research areas in finance while focusing on empirical approaches to addressing research questions. Covers the event study approach, long-term returns calculations, cross sectional and panel approaches applied to areas such as capital structure, board of directors, IPOs and   SEOS, agency problems, financial constraints and payout policies. Restricted to PhD-FIN students who matriculated into the major.

 FIN 713

  Advanced Topics in Financial Markets and Institutions (3-0-3)

Covers several recent developments in banking and financial markets research that include financial crises, bank regulation, bank liquidity creation and monetary policy, and bank governance and efficiency. Restricted to PhD-FIN students who matriculated into the major. Prerequisite: BUS 703.

  FIN 714

 Empirical Research Methods in Finance: Asset Pricing (3-0-3)

 Covers topics related to asset pricing including return predictability, testing traditional and modern asset pricing models, liquidity, short-selling, microstructure and portfolio evaluation. Restricted to PhD-FIN students who matriculated into the major. Prerequisite: BUS 703.

 FIN 715

 Advanced Corporate Finance Research (3-0-3)

 Builds an integrated framework for understanding the issues in corporate finance. Introduces theoretical and conceptual scholarship on a given topic with a focus on identifying empirically testable hypotheses. Presents extant empirical work on issues related to capital structure, payout policies,   agency theory, bankruptcy and financial distress, mergers and acquisitions, executive compensation, IPOs and corporate governance and control. Restricted to PhD-FIN students who matriculated into the major. Prerequisite: BUS 704.

  FIN 721

 Seminar in International Finance (3-0-3)

 Introduces topics related to international finance and international business. Focuses on multinational corporations’ risk management, corporate international diversification, foreign exchange markets, global portfolio flows, financial development issues and determinants, and foreign investments determinants. Prerequisites: FIN 711 and FIN 712.

 FIN 722

 Corporate Restructuring and Reorganization (3-0-3)

Surveys leading academic research in the areas of corporate restructuring with a focus on the evaluation of the determinants and outcomes of corporate restructurings including mergers, acquisitions, divestitures, financial distress and recapitalizations. Prerequisite: FIN 711.

 FIN 723

 Advanced Topics in Corporate Governance and Compensation (3-0-3)

Covers advanced topics in corporate governance and executive compensation. Particular emphasis is on the ownership structure of corporations, the role of institutional investors, the board of directors, incentive structures and executive compensation determinants, structure and outcomes. Prerequisite: FIN 711.

 FIN 724

 Advanced Portfolio Management and Investment (3-0-3)

 Provides an advanced understanding of key concepts, theories, and empirical research in the areas of portfolio theory, asset pricing, and investment strategies. Critically examines foundational topics such as modern portfolio theory, risk management, factor models, and behavioral finance, along with contemporary developments in quantitative finance and alternative investments. Prerequisite: FIN 711.

 FIN 725

 Seminar in Financial Risk Management (3-0-3)

Focuses on the theoretical and empirical foundations of financial risk management. Covers different types of risks such as market risk, credit risk, liquidity risk, and operational risk, with a particular emphasis on portfolio risk management, asset pricing, and systemic risk. Aims to develop advanced quantitative techniques for measuring and managing these risks in a range of financial contexts, with less focus on financial institutions' regulatory and operational frameworks. FIN 711.

 FIN 790

 Qualifying Examination

Includes written and oral parts to test breadth of knowledge, understanding of fundamentals and ability to perform independent research work in finance. Graded as Pass/Fail. Can be repeated once with approval of the Vice Provost of Research and Graduate Studies. Prerequisite: completion of 18 credit hours of coursework, including six credit hours from required finance courses.

 FIN 791

 Comprehensive Examination

 Includes written and oral parts to make sure that each doctoral student exhibits sufficient depth of knowledge and comprehends the broadest context of the finance field. Graded as Pass/Fail. Not repeatable. Prerequisites: completion of all the coursework for the PhD-FIN program, good academic standing, passing the qualifying examination and approval of the PhD-FIN program coordinator.

 FIN 794

 Special Topics in Finance

 Presents a theoretical or practical topic proposed by the faculty beyond what is offered in existing courses. Can be repeated for credit. Prerequisites: topic specific. Lab/tech fee fees may apply. Special topic courses are numbered as 694 or 794 courses. The three-letter course prefix reflects the

 field of study of the course. Descriptions of particular special topic courses are made available in the school during registration.

 FIN 799

 Dissertation (a minimum of 30 credit hours)

 Includes the preparation, presentation and defense of the research proposal, as well as the write-up, presentation and defense of the dissertation. Graded as Pass/No Pass. Prerequisite/concurrent: FIN 791.