Doctor of Business Administration in Finance

Graduate Catalog – DBA in Finance

LUCJAN T. ORLOWSKI, PhD

Program Director, Professor

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The DBA in Finance program is an applied research doctoral degree designed for finance executives and advanced business professionals who aspire to reach a higher level of professional development and to make a constructive contribution to their industry. Unlike the traditional PhD model that mainly prepares candidates for academic careers, the DBA in Finance program focuses on developing knowledge with direct global business applications and prepares graduates for high-level careers in financial institutions and other business organizations, consulting firms, government agencies, and academic careers that require an equivalent of a PhD degree from a reputable institution. Our cohort-based DBA in Finance program is highly focused and personalized, as it leads to specialized, original dissertation research projects matching the interests and career aspirations of our students.

The program is devised as an extension of graduate study beyond a master’s degree in business and as a supplement to doctoral degrees in non-business fields. It is intended to train high-level critical thinkers and analytical minds who can contribute to the challenges of a complex and dynamic global business world. It can be also completed as a transitional/bridge program. In addition, the program provides doctoral-level education in finance for those who have earned doctorates in other business or quantitative disciplines.

Program-Level Goals and Objectives

In keeping with the program’s mission and vision, five key program-level goals have been determined:

1. Preparing our graduates for highly specialized careers in financial institutions, consulting firms, government agencies, other business organizations, as well as academic careers that require a doctoral degree.
2. Acquire advanced, current knowledge in finance and gain research skills for conducting independent, complex financial projects.
3. Creation of new knowledge through original research.
4. Gain a comprehensive perspective on trends and issues related to financial markets and institutions.
5. Appreciate the importance of high ethical standards and values for finance professionals.

 

Degree Requirements

The DBA in Finance degree requires a student to complete 51 credit hours of graduate coursework after earning a relevant master’s degree in business or related area. Students are expected to maintain satisfactory academic progress, pass a comprehensive examination, and write, submit, and defend a doctoral thesis. Only prior qualified doctoral work will be considered for transfer credits, and only in exceptional cases. The transfer authorization decision is made by the DBA in Finance program director. 

The length of study in our DBA in Finance program is at a minimum of three and a maximum of seven years. An extension beyond the maximum seven-year period may be approved by the Jack Welch College of Business and Technology dean, but only under special circumstances specified in a student’s request. A minimum GPA of 3.0 (B) is required.

The DBA in Finance program curriculum is divided into three sections: business foundation courses, finance courses, and dissertation preparation:

1. Business Foundation Courses

The required courses provide the students with advanced knowledge in business foundations as well as business careers transition strategies (DBF 900 Business Strategy, Ethics, & Research and DBF 901 Career Transition Seminar).

2. Finance Courses

The finance courses reflect unique scholarly expertise of the SHU finance faculty and are taught by using an interactive seminar format and modern pedagogical tools. The curriculum includes two doctoral field seminars – a unique, distinctive feature of our program. After successfully passing a comprehensive exam, a student writes an extended research paper under the guidance of a doctoral faculty mentor in preparation for a thesis proposal. Coursework may include independent study projects, research assistantships, and directed readings.

3. Dissertation Preparation

Students are offered assistance at various stages of their dissertation process. The dissertation seminars/advisory sessions with faculty mentors help students develop their dissertation topics, design research, write dissertations and prepare for the formal dissertation defense.

Comprehensive Field Examination

Upon the conclusion of the required coursework in finance (at the end of Year II), each student takes a comprehensive examination, which evaluates the candidate’s ability to integrate the program course material. Students are allowed to proceed to dissertation courses (Year III) after successfully passing the comprehensive exam composed of questions from several finance concentration courses. If a student fails the comprehensive exam, a maximum of two make-up attempts are allowed for this exam.

Doctoral Dissertation

Upon completion of the DBA in Finance coursework and passing the comprehensive exam, students begin research on doctoral dissertations under the supervision of doctoral faculty mentors. Since the DBA in Finance is an applied research degree, the doctoral dissertation must reflect original student research on a topic related to applied issues in finance or financial economics. A successful dissertation in our DBA in Finance program has to satisfy the following requirements:

1. It must be written within the context of the field of finance or financial economics and be consistent with the scholarly expertise of a faculty mentor.
2. It must be based on original research and add new knowledge to the discipline. Case studies and research papers that merely apply the existing knowledge to solving business problems do not qualify for a doctoral dissertation.
3. It must address up-to-date, relevant issues pertaining to financial markets or institutions in order to reflect the applied nature of our DBA in Finance program.

The doctoral dissertation committee consists of the doctoral faculty mentor and two other qualified members with doctoral level credentials. The committee subsequently conducts the dissertation examination (oral defense). The doctoral thesis must be completed within two years of the coursework completion. Only full-time, academically qualified faculty mentors can serve as thesis supervisors. An academically qualified adjunct faculty may serve as a dissertation committee member.

Delivery Format

The delivery method relies predominantly on “executive program style” meetings. The executive-style format encourages a collaborative environment. The weekend residency mode is based on face-to-face classroom instruction during the first two years of the program. The weekend residency requirement entails fifteen (15) two-day sessions each year. A hybrid in-class and on-line teaching mode can be applied under special circumstances. At any stage, the program is delivered in the way preserving its academic consistency, integrity, and overall high quality.

Admission Requirements

To be admitted to the DBA in Finance program, candidates must have completed a master’s degree in business or the equivalent. Admission to the program is selective. An applicant is required to submit a statement of purpose, academic transcripts from prior studies, a proof of a relevant work experience of at least five years, and three letters of recommendation. Students with relevant doctoral-level degrees may be given credit toward their DBA in Finance degree based on their prior coursework at the discretion of the DBA in Finance program director in consultation with the chair of Department of Economics and Finance.

All applicants are required to submit evidence of the GMAT or the GRE. Waivers are possible and will be considered on a case-by-case basis. Students admitted to the program should have a strong mathematical background. The student’s GRE or GMAT scores may be considered along with other criteria such as evidence of industry experience and prior academic work. A master’s degree in finance, economics, computer science, physics, or mathematics is a plus. Successful candidates for admission to our program must demonstrate a strong academic record (reflected in academic transcripts), appropriate work experience, as well as sound writing skills and research potential (documented by writing samples submitted with the application for admission).

 

DBA Course Requirements

Required Courses (51 credits)

DBF 900	Business Strategy, Ethics, & Research	1.5
DBF 901	Career Transition Seminar	1.5
903	Comprehensive Examination	0
904	Doctoral Thesis Defense	3
FN 901	Advanced Corporate Finance	3
FN 902	Investment & Asset Pricing	3
FN 903	Quantitative Research Methods I: Advanced Statistics & Mathematical Modeling	3
FN 904	Quantitative Research Methods II (Financial Econometrics)	3
FN 906	Global Financial Markets & Institutions	3
FN 907	Doctoral Field Seminar I	3
FN 913	Advanced Financial Risk Management	3
FN 916	Advanced Research in Corporate Finance	3
FN 914	DBA Field Seminar I	3
	and/or
FN 915	DBA Field Seminar II	3