University of Arkansas

Walton College

The Sam M. Walton College of Business

Finance Ph.D.

The objective of the Ph.D. program in Finance is to prepare students for faculty positions at academic institutions or for professional careers in private industry and government.

Program Overview

During their course of study, students receive specialized instruction in the areas of corporate finance, investments, and financial institutions. The conceptual knowledge and methodological skills necessary to conduct independent research are acquired through individual apprenticeships with faculty.

Faculty Research Interests and Highlights

The faculty are actively engaged in research across a broad array of topics that include: corporate finance issues such as dividend and capital structure policy, acquisitions and mergers, distress and financial restructuring; regulation and rate of return setting process; investments and financial market issues such as stock market efficiency, credit risk and corporate bond ratings, portfolio diversification and derivative hedging strategies, exchange rate risk exposure, and mutual fund performance; as well as institutional issues such as corporate governance, executive compensation, corporate ownership, and shareholder voting rights.



Finance Ph.D Degree

Finance Ph.D.

Finance Faculty
View faculty and research interests

Duration of Program: 4-5 years

Program Start Date: Fall

Application Deadline:
December 15

Curriculum Overview
View a Course Listing

Admissions Information
View Info and Requirements / F.A.Q.

Required Test: GMAT preferred
GRE also accepted

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Program Structure

The program develops proficiency in classroom instruction by providing opportunities to teach, to design curriculum, and to attend regularly scheduled teaching workshops and seminars. The Ph.D. program in Finance requires 43 credit hours of coursework. Five seminars in financial theory and research are required in addition to the 1 hour of WCOB 6111. The remaining credit hours, distributed across two supporting areas, economics and research, are customized in consultation with the departmental doctoral program advisor along with 18 hours of dissertation. In addition, students must complete a research paper requirement, pass a written comprehensive exam, and successfully defend and conclude an approved doctoral thesis.

Finance Ph.D. Curriculum

Required Courses (34 hours)
Research Requirements (9 hours)
  • Students may take up to one research tool course approved by the department doctoral program adviser when the research tool course is not listed above.
  • FINN 683v: Contemporary Issues in Doctoral Colloquium
Select two of the following (6 hours)
Dissertation (18 hours)


Admissions Requirements for the Ph.D. Programs

Applicants who wish to apply for the doctoral program in Finance must submit their application to the Graduate School of Business by December 15th.


Frequently Asked Questions

The Finance Department typically has ten to twelve Ph.D. students, at differing stages of their program, at any one time.

The Finance department will accept late applications, but only on a space-available basis. However, please note that late applicants are not eligible for Distinguished Doctoral Fellowship (DDF) funding. We encourage you to apply as early as possible to ensure you are considered for all available funding. Application deadline is December 15th.

The Finance Department requires that all applicants complete the master’s degree prior to entry into the Ph.D. program.

Students admitted to Walton College Ph.D. programs may receive graduate assistantship funding, please visit our Ph.D. Assistantships page to see specific forms of funding.