PhD scholarship in Finance, Spring 2016, Denmark

Publish Date: Apr 21, 2016

Deadline: May 24, 2016

PhD scholarships in Finance, Spring 2016

The Department of Finance at the Copenhagen Business School invites applications for PhD scholarships in finance. Several scholarships are available of which one is a general scholarship within any area of finance while three scholarships are within specific areas of finance, as described below.

One scholarship is available within the field of financial frictions and the student will be associated with the Center for Financial Frictions (FRIC), which is a Center of Excellence funded by the Danish National Research Foundation. Financial frictions are costs or impediments in connection with financial transactions, for example due to transactions costs, borrowing constraints, credit risk, capital requirements, or asymmetric information.

One scholarship is available within the areas of household finance and behavioral finance. This scholarship is funded by a European Research Council Starting grant awarded by the European Research Council to Professor Steffen Andersen.

One scholarship is available within the area of empirical entrepreneurial finance. This scholarship is funded by the Sapere Aude grant awarded by the Danish Council for Independent Research to Professor Morten Sørensen.

All scholarships initially cover a three-year period of study. Extended funding is available for successful candidates who wish to pursue a university career.

The PhD program at CBS allows students to conduct research under the supervision of CBS professors, supported by research training courses. The program is highly international, and students are expected to take part in the Department’s research activities, such as seminars and conferences organized by the Department.

CBS PhD graduates in finance are held in high esteem in academia and research institutions as well as in government and the private sector where their research qualifications are in high demand. The Department of Finance has placed PhD candidates at leading academic institutions (WU Vienna University, Cass Business School, London Business School and the EPFL in Lausanne), at the Federal Reserve Bank of New York, Federal Reserve Bank of San Francisco, at Goldman Sachs, and in leading Danish financial institutions.

Copenhagen Business School has a broad commitment to the excellence, distinctiveness and relevance of its teaching and research programs. Candidates who wish to join us should demonstrate enthusiasm for working in an organization of this type (highlighting, for example, relevant business, educational and dissemination activities).

The starting date is normally August 1 or September 1, but may be agreed upon individually.

General information:

A PhD scholarship normally runs for a period of 3 years, and includes teaching obligations equivalent of ½ year’s work (840 work hours). The scholarships are fully salaried positions, according to the national Danish collective agreement. The scholarship includes tuition fees, office space, travel grants plus a salary, currently between DKK 29,104.00 (app. 3,901.00 €) and DKK 35,164.00 (app. 4,713.00 €) per month including pension contributions, depending on seniority.

Appointment and salary will be in accordance with the Ministry of Finance’s collective agreement with the Danish Confederation of Professional Associations (AC).

The PhD student will be enrolled at the PhD School in Economics and Management. Please see the CBS homepage for more information about the PhD program,

To be considered, 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.

Application procedure:

The application (see link below) must include a project description of up to 5 pages. This research proposal should contain a presentation of an original research question, a description of the theoretical framework and related literature. Please only send one application and indicate in which of the scholarships you see your project proposal.

In addition to the research proposal, the application must include the completed online application form, copies of a Master’s degree certificate or other certificates of a corresponding level, brief curriculum vitae (CV), a list of papers and publications, and one copy of a selected written work (e.g. Master’s thesis). Applicants must enclose documentation for English language skills. Documentation of GRE and/or GMAT scores as well as two letters of recommendation are strongly encouraged. For submitting GMAT scores, look up Copenhagen Business School in the GMAC register and choose the PhD Program.
For submitting letters of reference, please have them sent to Julie de Molade,

A committee of experts will assess the applications. The assessment will be based on the merits of the applicant, as well as the quality and relevance of the project. Following this assessment, the Department will select the recipients of the scholarships among the qualified candidates.

Please find guidelines and further information on scholarships and the doctoral program at

For further information please contact Center Coordinator Julie de Molade, email:, tel.: +45 3815 3737. Information about the department can be found at and information about Center for Financial Frictions can be found at

Closing date: May 24, 2016

Copenhagen Business School must receive all application material, including all appendices (see items above), by the application deadline.

Details about Copenhagen Business School are available at

Closing date: 24/05/2016

Apply online

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