PhD Program in Finance

APPLICATIONS FOR ADMISSION & UP TO FIVE SCHOLARSHIPS

During the first year, you will complete a portfolio of advanced graduate-level courses and seminars covering finance theory, econometric and statistical methods and research methodology. Following the coursework, you will be required to successfully complete written comprehensive exams and then on, continue with the doctoral thesis, leading up to the final defense of the thesis in the ‘viva’ exam.

As a PhD student, you will participate in the research activities of the department and will have many opportunities for networking with our international partners and attending workshops and conferences. We provide an excellent research environment for our PhD students, including dedicated office space, access to many specialized datasets and databases, including WRDS, Compustat, CRSP, I/B/E/S, as well as scientific computing facilities and IT support. In addition, you will have the opportunity to gain an international perspective by studying abroad at partner schools (including many in the UK and the U.S.). 

Scholarships/Research Positions/Awards

We offer up to five PhD scholarships/research positions to outstanding students from all nationalities. The scholarships cover 80%-100% of the tuition fees, and include also allowance of approximately €1200 per month before the Comprehensive exams and approximately €1400 after the Comprehensive exams for a ten-month period (i.e., about €12,000 and €14,000, respectively). We also provide annual funding for international conferences (approx. €1000 per year). This is granted on an annual basis and renewed for up to a maximum five year period, subject to satisfactory performance. The above may change, subject to University or Departmental approval.

George M. Constantinides PhD Award, which honors Professor Constantinides, a founding member of the Faculty of Economics and Management at the University of Cyprus, is intended to provide financial support, up to €10000, for FEM PhD students' research endeavors, including participation in international conferences, research visits for training/collaboration/networking, or data acquisition. 

Admission Criteria

A master’s degree from an accredited university with a grade of at least ‘Very Good’ or Upper Second. Priority though will be given to those applicants with 1^st Class honors degrees in both their Bachelor’s and Master’s degrees. We encourage students from all disciplines to apply for admission (among those, any Science disciplines, e.g. Computer Science, Engineering, Mathematics, Statistics, Physics, Chemistry, etc, beyond disciplines in Finance, Accounting, Economics). Currently, the majority of our PhD students hold both BSc and MSc degrees from Science disciplines.

Cyprus is a European Union Member State and during the admission process the university gives equal opportunities to all applicants, regardless of nationality. Applications are electronic and announcements are made twice a year (deadline is May 31st for the semester starting September).  To apply, please visit the UCY Graduate School website: POSTGRADUATE PROGRAMME PLACES FOR THE FALL SEMESTER OF THE ACADEMIC YEAR 2025/2026 – ENTRY SEPTEMBER 2025 - Graduate School

More Info:  Ph.D. Programme - Department of Accounting and Finance   

Academic Directors: Prof. A. Charitou (charitou@ucy.ac.cy) and Prof. A. Milidonis (andreas.milidonis@ucy.ac.cy)

Secretariat: E. Tsinti, +35722893605, tsinti.eugenia@ucy.ac.cy/M. Kanari, +35722893641, kanari.maria@ucy.ac.cy

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