University of Exeter funding: MRes to PhD Finance (2+3)

MRes – PhD Finance (PhD Pathway) Ref: 3808

About the award

The University of Exeter Business School is delighted to offer up to 10 fully funded PhD scholarships in Finance. This funded doctoral programme aims to train graduate students so that they can advance knowledge through creative and relevant research leading to societal impact and new findings to be published in world-leading journals.

For PhD Finance applicants, this award provides full fees and a maintenance stipend for 5 years of study, which includes a two-year MRes Economics followed by 3 years of PhD Finance study.

The programme is offered by the University of Exeter Business School for full-time study. As one of the Russell Group Universities, the University of Exeter is one of the UK’s leading research institutions. For Finance applicants, the first year is designed to equip students with the tools required to understand and conduct research in financial economics: core economic models, econometric techniques and research methods. The second year allows students to specialise in modules covering advanced topics in the fields of corporate finance, asset pricing, and empirical economics. Students will not be allocated PhD supervisors during the MRes.

Upon successful completion of the MRes, which includes writing a research dissertation, and subject to meeting the PhD entry criteria, students will move to a full-time PhD programme under the supervision of leading academics in the field.

Over the course of the programme, students will have the chance to work closely with leading academics from the University of Exeter Business School, who produce world-leading research in the field of Finance. This includes a wide variety of topics such as Asset Pricing, Banking, Behavioural Finance, Corporate Finance, Corporate Governance, Equity Valuation, Mutual Funds, Portfolio Management, Private Equity, and Sustainable and Responsible Investments. Students will be supervised by experts in their chosen field and will receive mentoring and support throughout the programme.

We are looking for students who have demonstrated themselves to be highly competent in their previous studies. Previous studies must have contained a research component, for example a research dissertation, research methodology courses or a research project.

For more information about the programme, funding opportunity and informal enquiries, please contact the director of research for Finance and Accounting, Prof Chendi Zhang (, and the Director of Postgraduate Research students, Dr Christina Dargenidou (

Please note:

The scholarship is dependent on successful progression within the PhD programme each year.

Funding Notes:

The scholarship is for a maximum of 5 years, and for successful applicants will include:
MRes (Two Years for MRes Economics):
• Full tuition fees at UK/EU or International fee rate
• An annual bursary equivalent to the UKRI stipend rate – £15,009 for 2019/20
PhD (Three Years):
• Full tuition fees at UK/EU or International fee rate
• An annual bursary equivalent to the UKRI stipend rate –£15,009 for 2019/20

Additional funding:
There is additional funding available for attending conferences/summer schools and data collection.

Entry requirements

A First-Class honours degree in Finance, Economics or closely related subject, or a Merit in a MA/MSc in Finance, Economics or closely related subject, with evidence of excellent research ability. Candidates with strong background in mathematics and quantitative disciplines are encouraged to apply for PhD Finance.

If English is not your first language you will need to meet the English language requirements and provide proof of proficiency. Click here for more information and a list of acceptable alternative tests.

All applications are considered individually on merit. The University is committed to an equal opportunities policy with respect to gender, age, race, sexual orientation and/or disability when dealing with applications. It is also committed to widening access to higher education to students from a diverse range of backgrounds and experience.

Candidates must satisfy the general admissions requirements of the University of Exeter.

How to apply

Apply now

You will be asked to submit some personal details and upload the documents listed below by 22nd January 2020.

• Personal statement which details the following:
- Why you are applying for this programme
- Your suitability for the programme
- Your expectations from the programme
- Your research interests and how you expect they will be developed through this programme
• An example piece of written work (preferably course work submitted for any previous degrees) (to be uploaded under research proposal section)
• Two academic references, one to be from your most recent institution
• If relevant, proof of your English language proficiency
• GMAT/GRE test is optional but score may strengthen the case for funding – not more than 3 years old.

You will also be asked to upload verified transcripts of your most recent academic qualification.

All application documents must be submitted in English. Certified translated copies of academic qualifications must also be provided.

Please note that we will not be contacting referees to request references, you must either upload these to your application with your other supporting documents or you must arrange for them to be emailed to by the deadline of 31 January 2020.

Please quote reference 3808 on your application and in any correspondence about this studentship.


Application deadline:31st January 2020
Number of awards:10
Value:The scholarship is for a maximum of 5 years, and includes MRes (Years 1/2), Full tuition fees at UK/EU/INT fee rate, an annual bursary equivalent to the UKRI stipend of £15,009. PhD (Years 3-5) Full tuition fees at UK/EU/INT fee rate.
Duration of award:per year
Contact: PGR Admissions - +44 (0) 1392 723044