Department website: https://business.wvu.edu/academics/finance-department/finance-ph-d
Degree Offered
- Doctor of Philosophy
Nature of the Program
The Ph.D. in Business Administration with a major in Finance is a full-time, in-residence program lasting 4-5 years. It is a relatively small, high-quality program. The primary goal of the program is to prepare students for careers in research and teaching at comprehensive universities. The program of study requires the satisfactory completion of coursework, a first year summer research paper, a comprehensive examination, and a dissertation. Students will take courses in various finance topics, economics, econometrics, research methods, and statistics. The program distinguishes itself with small classes and an "open-door" policy, which allows for close interaction between students and faculty to discuss ideas and work on joint research projects. Early involvement of students in faculty-directed research projects provides students with the opportunity to develop a pipeline of research while in their doctoral program of study. Our aim is that all students will present their work at academic conferences and have at least one published scholarly paper by the time they graduate. Students also gain teaching experience by teaching undergraduate finance courses typically after their first year in the program.
Academic Standards
The following criteria must be met for a student to remain in good standing:
- Maintain a minimum 3.0 cumulative grade point average in all graduate courses taken at WVU.*
- Earn no more than two incomplete grades per semester, barring exceptional circumstances in which a deferment is officially granted by the Ph.D. Program Coordinator.
- Resolve any incomplete grade in a timely manner.
- Successfully complete any qualifying/summer papers and/or qualifying exams within the prescribed timeframe.
- Successfully complete a comprehensive exam within four years of starting the program. Failure to pass the comprehensive exam after two attempts will result in dismissal from the program.
- Successfully defend a dissertation proposal within five years of matriculation.
- Successfully defend a dissertation within seven years of matriculation.
- Attend scholarly presentations and interact as part of the community of scholars.
- Perform Graduate Assistantship duties in a satisfactory manner (if applicable).
- Observation of and adherence to the WVU Campus Student Code (https://studentconduct.wvu.edu/files/d/f0ae69b9-1461-45cb-81ee-40e48e2d978b/main-campus-revised-final-student-conduct-code-8-21-15c.pdf).
- Observation of and adherence to WVU’s Academic and Professional Standards (http://catalog.wvu.edu/graduate/enrollmentandregistration/#text).
- Observance of and adherence to the professional standards of the student’s home discipline, as defined by the recognized scholarly organization that governs the progression (as identified by the Program Ph.D. Committee)
*If this condition is not met, the student will be placed on probation and a remediation plan will be developed by the Ph.D. Program Coordinator. Where the conditions of the remediation plan are not met within the prescribed timeline, the student will be dismissed from the program.
Admissions for 2027-2028
To apply, applicants must submit:
1) a completed application - https://graduateadmissions.wvu.edu/how-to-apply/first-time-graduate-applicant
2) application fee
3) up-to-date academic transcripts from all prior undergraduate and graduate institutions with cumulative GPA scores of 3.25 or better on all undergraduate courses and 3.5 on graduate courses (based on U.S. standard of 4.0). Students holding an M.S. in Finance or an MBA with a concentration in finance from an accredited institution will be given priority consideration.
4) an up-to-date resume/CV
5) An official Graduate Management Admissions Test (GMAT) score is preferred; however, in some cases a GRE (Graduate Record Examination) will be accepted. A high GMAT/GRE score is required for admission to the Ph.D. Program in Business Administration with a major in finance. Successful applicants to our program usually have GMAT or GRE scores in the 80+ percentile.
6) 2 Letters of Recommendation from individuals who are not family members or friends and can provide information about academic promise, ability to work with others, professionalism, and potential to succeed in this program
7) a Statement of Purpose regarding the Ph.D. program describing why the applicant is pursuing a Ph.D. and the applicant's career aspirations upon completion of the degree
International Applicants are required to submit a TOEFL, IELTS, or Duolingo score. Visit English Language Proficiency Requirements | Graduate Admissions | West Virginia University for specific information
Applicants who have received a high school diploma or a bachelor's degree from an accredited college or university in the United States or some other predominantly English-speaking countries are usually exempt from the TOEFL/IELTS requirement. Applicants with only a master's degree from a predominantly English-speaking country must still provide acceptable TOEFL or IELTS scores.
These entrance requirements are the minimum requirements for regular admission. Since there is limited space in each year's class, meeting these entrance requirements does not guarantee admission. Applicants will not be accepted on a provisional basis.
Priority will be given to applications received by the preferred deadline of December 15. The second-round application deadline is January 15. Late applications may be considered if space is available until the final deadline of April 15.
Program Requirements
The program is designed to be completed in four or five years, depending on the student’s background, interests, and dissertation progress. The program of study requires the satisfactory completion of coursework, a summer paper, and dissertation research. Students will take courses in economic theory, econometrics, and finance, followed by the presentation of the summer paper, a comprehensive examination, and dissertation research.
The Ph.D. program in Business Administration with a major in Finance is a full-time graduate program and requires at least three years in residence. The residency requirement is important because the doctoral degree has aspects of an apprenticeship that can only be accomplished on campus. Additionally, teaching on campus is a requirement of the program. Students are expected to teach after their first year in the program. They will work closely with faculty to ensure quality instruction and to receive feedback on their development as university-level teachers.
WVU cannot accept scans, uploads, faxes, or unverified photocopies of transcripts as official.
Graduate degree-seeking applicants must send their official transcript from the undergraduate institution that granted the bachelor’s degree. It is preferred that official transcripts be sent via an online, secure service such as National Student Clearinghouse, or Parchment to graduateadmissions@mail.wvu.edu. Alternatively, sealed, untampered, physical official transcripts can be sent to:
WVU Graduate Admissions
1 Waterfront Place
P.O. Box 6009
Morgantown, WV 26506
International applicants and applicants using express mail, use the address below:
WVU International Admissions
1 Waterfront Place
P.O. Box 6009
Morgantown, WV 26506
Major Code: 2127
Doctor of Philosophy
Our program is built around an applied curriculum with a strong theoretical and quantitative foundation. The program involves doctoral level coursework, a first year research paper, and presentation to faculty, passing a finance comprehensive exam, and defending a dissertation.
Curriculum Requirements
| Code | Title | Hours |
|---|---|---|
| A program GPA of 3.0 is required by the Chambers College. | ||
| ECON 701 | Advanced Micro-Economic Theory 1 | 4 |
| ECON 702 | Advanced Macro-Economic Theory 1 | 3 |
| ECON 711 | Advanced Micro-Economic Theory 2 | 4 |
| ECON 721 | Mathematical Economics | 3 |
| ECON 725 | Econometrics 1 | 3 |
| ECON 726 | Econometrics 2 | 3 |
| ECON 727 | Econometrics 3 | 3 |
| FIN 736 | Asset Pricing | 3 |
| FIN 741 | Corporate Finance Seminar | 3 |
| FIN 742 | Investments Seminar | 3 |
| FIN 743 | Advanced Topics Seminar | 3 |
| Research Hours | 39 | |
| Research | ||
| 1st Year Research Paper | ||
| Comprehensive Exam | ||
| Dissertation Proposal Defense | ||
| Dissertation Defense | ||
| Total Hours | 74 | |
Suggested Plan of Study
| First Year | |||||
|---|---|---|---|---|---|
| Fall | Hours | Spring | Hours | Summer | Hours |
| ECON 701 | 4 | ECON 711 | 4 | Student Research Paper* | |
| ECON 721 | 3 | ECON 725 | 3 | ||
| ECON 702 | 3 | FIN 736 | 3 | ||
| 10 | 10 | 0 | |||
| Second Year | |||||
| Fall | Hours | Spring | Hours | Summer | Hours |
| ECON 726 | 3 | ECON 727 | 3 | Finance Comprehensive Examination | |
| FIN 741 | 3 | FIN 742 | 3 | ||
| FIN 797 | 3 | FIN 743 | 3 | ||
| 9 | 9 | 0 | |||
| Third Year | |||||
| Fall | Hours | Spring | Hours | ||
| FIN 797 | 9 | FIN 797 | 9 | ||
| 9 | 9 | ||||
| Fourth Year | |||||
| Fall | Hours | Spring | Hours | ||
| FIN 797 | 9 | FIN 797 | 9 | ||
| 9 | 9 | ||||
| Total credit hours: 74 | |||||
Degree Progress
The department of Finance requires the following milestones for all students. According to the graduate catalog, students will receive a yearly evaluation. Students who are either not making adequate degree progress or failing to uphold professional standards may receive notice of probation, suspension or dismissal. Students may be notified of academic consequences outside of routine evaluation processes if an issue must be addressed immediately.
Each year, no later than the first day of classes of the Fall semester, the department will distribute an updated version of the graduate handbook (Finance Ph.D. | John Chambers College of Business and Economics | West Virginia University).
Benchmarks
- Year One: Summer Research Paper – Defense typically occurs in Year Two.
- Year Two: Comprehensive Examination – Scheduled during the summer months.
- Year Three: Establish Dissertation Committee and Defend Dissertation Proposal – may be extended to Year Four with approval from the Ph.D. program committee.
- Year Four: Job Market Preparation, Dissertation Defense, and Dissertation Submission – may be extended to Year Five with approval of the Ph.D. program committee.
- Year Five: If granted, finalizing Job Market Preparation, Dissertation Defense and Dissertation Submission.
Satisfactory Progress
- Students will be evaluated annually to ensure satisfactory progress in coursework, assistantship duties, and research. These evaluations will be conducted each Spring.
- The program of study requires an overall performance above satisfactory in coursework, assistantship duties, and research.
- Unsatisfactory annual evaluation may lead to remediation plans, and in extreme cases, dismissal from the program.