The Discipline of Finance has a vigorous postgraduate research program and offers the following research degrees:
The Discipline provides PhD supervision in both theoretical and applied research in finance. The main research strengths of the Finance Discipline are in security market microstructure and corporate finance. There is also some capacity to supervise topics in behavioural finance, decision theory and quantitative finance. Through links to the Securities Industry Research Centre (SIRCA), the Capital Markets Co-operative Research Centre (CMCRC) and the Australian Stock Exchange (ASX), the Finance discipline has access to exceptionally rich financial databases. Industry contacts also provide opportunities to undertake industry linked research which provide very generous scholarship opportunities for exceptional students.
The Finance Discipline has considerable expertise in security market microstructure which looks at how securities markets actually operate and examines ways of increasing their efficiency and integrity. Research in market microstructure also assists in understanding the behaviour of security prices and in designing improved experiments with applicability to all areas of finance.
The Finance Discipline offers excellent opportunities for research in all areas of corporate finance, capital budgeting, valuation, the cost of capital, capital structure, dividend policy, share buybacks, security issues, takeovers, and financial distress.
The Finance Discipline offers supervision of topics in mathematical and econometric modelling in finance, in behavioural finance, and in statistical decision theory applied to finance. However, only a small number of places are available for these topics.
The Discipline of Finance in association with SIRCA, the CMCRC, and the ASX, has attracted considerable research funding, amounting to many millions of dollars. This money is used to fund generous scholarships and research infrastructure. The Discipline runs an active seminar and research workshop series which attracts distinguished scholars both from Australia and abroad.
Entry to the Finance Discipline's PhD program is highly competitive. Several hundred students make enquiries to the PhD coordinator each year but only five to ten places are available annually. Consequently a first class honours degree is a minimum requirement for entry to the finance PhD program.
The Finance Discipline only offers places for full time study.
PhD students applying to the University of Sydney Business School, particularly if they are studying finance or accounting, may apply for a CMCRC scholarship of up to $50,000 per year. However, special conditions apply to these scholarships. Details can be found at www.CMCRC.com (students should consult this web site before directing enquiries to the University of Sydney Business School staff).
The Discipline of Finance Postgraduate Research Coordinator is Associate Professor Suk-Joong Kim.