PhD in Business program track Finance

The Ph.D. program in Finance aims at nurturing ambitious academics trained in cutting-edge research, who will contribute to advance the frontiers of finance research.

Description of the research field and topics

The Ph.D. Program in Finance provides an in-depth knowledge of asset pricing, corporate finance, banking, household finance, market microstructure and many other fields of finance, which will allow students to successfully pursue their research interests. Knowledge, curiosity, creativity and analytical abilities are among the skills that our Ph.D. program nurtures. We have currently over 20 Ph.D. students. These students come from various countries, and they have different interests and backgrounds. English is the working language on the floor, as it is on the whole campus.

Collaboration with leading experts

Our faculty is highly international, and includes scholars at the top of their fields. Faculty/student interaction is among the highest among competing programs. Students are encouraged to approach any member of faculty to discuss ideas or to ask for advice. That's why we can offer very close individual supervision. Each Ph.D. student is mentored by one faculty member per quarter. Ph.D. student offices are back to back with those of faculty, and interaction is strong. Ph.D. students are closely overseen by the Graduate Program Coordinator.


Interaction with supervisors during the Ph.D. phase is intense and often leads to papers co-authored by students and supervisors. Students always write at least one single-authored paper. This paper will be their job market paper.

Ph.D. program

The program is structured as follows:

Year 1

The first year of the Ph.D. is largely devoted to rigorous training in microeconomics, econometrics and the basis of finance to provide students with necessary basis to undertake research.

Year 2

The second year will introduce students to more advanced topics. The students will also start their research work followed by one or more supervisors.

Year 3-5

The last phase of the graduate program lasts two to three years, and consists of completing a dissertation under the supervision of one or more faculty members.

What kind of students are we looking for?

The Tilburg Ph.D. in Finance aims to attract ambitious, inquisitive, and hard-working students who want to excel in academia. Applicants should have a strong quantitative background in economics or business and a MSc-level degree. We look for students with aptitude to critical and creative thinking, able to envision new research questions that address the continuously evolving issues in financial economics.

If you have achieved outstanding results in your academic career so far and have an ambition to become an accomplished finance scholar, we strongly invite you to apply.

Placement records


  • Lennart Dekker (Dutch National Bank)
  • Giuseppe Floccari (Bank of Italy)
  • Daniel Karpati (Erasmus School of Economics)
  • Tomas Jankauskas (Federal Reserve Bank of New York)


  • Arthur Beddock (City University of Hong Kong)
  • Gleb Gertsman (Analysis Group – Brussels)
  • Jorgo Goossens (Radboud University – Nijmegen)
  • Kristy Jansen (Marshall School of Business, University of Southern California)


  • Ricardo Barahona (Bank of Spain)
  • Joren Koëter (Rotterdam School of Management)
  • Yuexin Li (Renmin University-Beijing)
  • Lingbo Shen (Nankai University- Tianjin)
  • Martijn de Vries (Free University – Amsterdam)
  • Olivier David Zerbib (Boston University)


  • Pranav Desai (Universidade Nova de Lisboa)
  • Emiel Jerphanion (Alliance School of Business, University of Manchester)
  • Zilong Nyu (Southwestern University of Finance and Economics -Chengdu)
  • Zhaneta Tancheva (BI Oslo)


  • Peter Brok (Copenhagen Business School)
  • Ekaterina Neretina (Marshall School of Business, University of Southern California)
  • Camille Hebert (Rotman School of Management – University of Toronto)


  • Andreas Rapp (Board of Governors - US Federal Reserve System)
  • Emanuele Rizzo (Universidade Nova de Lisboa)
  • Cara Vansteenkiste (New South Wales University)
  • Haikun Zhu (Erasmus University – Rotterdam)


  • Peter Cziraki (University of Toronto, Economics Department)
  • Narly Dwarkasing (University of Bonn)
  • Ljubica Djordjevic (International Monetary Fund)
  • Ferenc Horvath (City University of Hong Kong)
  • Elisabeth Kempf (Chicago Booth)
  • Christiane Kneer (International Monetary Fund)
  • Ralph Koijen (Chicago Booth)
  • Hao Liang (Singapore Management University)
  • Juan Miguel Londono-Yarce (Board of Governors - US Federal Reserve System)
  • Mancy Luo (Rotterdam School of Management)
  • Kim Peijnenburg (Bocconi University)
  • Elena Pikulina (University of British Columbia)
  • Larissa Schaefer (Frankfurt School of Management)
  • Christophe Spaenjers (HEC Paris)

Graduate Program Coordinator PhD in Business – track Finance

Our alumni about their PhD program