phd finance ontario

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Addressing current issues confronting organizations and investors operating in today’s rapidly changing financial environment.

The PhD specialization in Finance at McGill prepares students for research-oriented academic careers. While students from all backgrounds are encouraged to apply, the typical student holds an undergraduate or a master's degree in economics, finance, mathematics, statistics, computer science, engineering or physics.

The program is normally completed in five years. The first two years in the program are devoted primarily to taking courses in finance, as well as supporting disciplines (economics, mathematics and econometrics/statistics). After the first two years, students enter the dissertation phase of the program. For details on the Finance Area, research domains, publications and working papers, visit the Desmarais Global Finance Research Centre website.

Numerous required and elective doctoral courses are offered by the McGill Finance Faculty, including:

• Financial Economics
• Corporate Finance
• Empirical Methods in Finance
• Continuous-Time Finance
• International Finance
• Fixed Income Securities Theory
• Corporate Governance

Faculty and Research

The McGill Finance area includes fourteen faculty members who regularly publish in the top finance journals. The moderate size of the program (currently we have 13 Ph.D. students in residence) make it possible for the students to closely interact with the faculty and to benefit from personalized attention and support. Because the faculty's interests span a wide spectrum of specialized fields in finance, students enjoy a lot of freedom in the choice of their dissertation topic.

Related Content

Insightful research for visionary management.

See the PhD Program Finance Postcard

Finance members

Department and university information, desautels faculty of management mcgill university.

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Our Faculty Members

Field courses.

Finance is a core discipline within the Telfer School of Management. Students examine the theoretical and analytical basis of corporate finance, financial instruments, portfolio management, inter-temporal trade-offs, asset valuation and risk management. 

Here is a list of our current faculty members. We encourage all potential students to visit our homepages to learn more about the research we are conducting. Google Scholar and other databases (ABI/INFORM, EBSCO Business Source Complete) are also excellent ways to learn about our publications. We also encourage applicants to contact us personally so that we can ensure the best possible fit for our common research interests.

For information about the PhD program as a whole, please feel free to contact the Graduate Office by e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it. or by phone at 613-562-5884. For information about the Finance field, please contact Dr. Ali Akyol .

• Ali Akyol , PhD 
• Imed Chkir , PhD
• Anna Dodonova , PhD
• Adelphe Ekponon, PhD (Available for co-supervision only)
• Shantanu Dutta , PhD
• Yuri Khoroshilov , PhD 
• Kaouthar Lajili , PhD
• Jonathan Li , PhD
• Fabio Moneta , PhD 
• Miwako Nitani , PhD (Not accepting new PhD students in 2024-2025)
• Qianru  Qi , PHD (Available for co-supervision only)
• François-Eric Racicot , PhD (Available for co-supervision only)
• Harshit Rajaiya , PHD (Available for co-supervision only)

MGT8107 FINANCE (3 units)

Theoretical foundations of corporate finance and governance; capital budgeting and investment/growth strategies; strategy and finance: risk and risk management: options; financing/capital structure decisions; payout/dividend policies; mergers and acquisitions; derivative theory (including theories of capital structure); derivatives and fixed-income securities; and risk capital financing.

MGT8108 RECENT DEVELOPMENTS IN FINANCE RESEARCH (3 units)

Issues in modern finance such as behavioural finance; game-theoretic approaches to corporate finance; ethics in finance, agency theory, regulations and securities agency (e.g., security exchange commission) roles; and financial institutions and services.

MGT8109 SPECIAL TOPICS IN FINANCE RESEARCH (3 units)

Critical evaluation of studies in targeted domains of finance. Identification and evaluation of new orientations with an in depth analysis of historical developments of the domain. Specific domains explored depend on the professor leading the seminar, with topics offered on a rotating basis. Presentation and discussion of thesis project and other personal research projects.

For information about the PhD program as a whole, please feel free to contact the Graduate Office.

Email : This email address is being protected from spambots. You need JavaScript enabled to view it. Phone : 613-562-5884

For information about the research in the Finance field , please contact  Dr. Ali Akyol .

Dr. Ali Akyol 613-562-5800 x 8823 This email address is being protected from spambots. You need JavaScript enabled to view it.

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Drive New Knowledge in Business and Society

Doctoral program starting in september.

Celebrating 45 Years of Impact

Phd in management.

An individually tailored program that helps you develop the skills of an impactful researcher, teacher, colleague and mentor to build a successful academic career.

“I met so many interesting people during my time at Smith, from invited speakers and professors to job market candidates and students. The program is rigorous, but it’s important to enjoy the journey.”

Key Features

Specializations.

Develop your analytic and research skills in one of nine areas of specialization. Choose from Organizational Behaviour, International Business, Analytics, Management Information Systems, Strategy, Marketing, Business Economics, Finance or Accounting.

Learning Environment

Smith School of Business at Queen’s University is one of the world's premier business schools. Goodes Hall combines the charm of an exquisitely restored 45,000-square-foot 120-year-old Victorian Schoolhouse with 143,000 square feet of bold new design, structure and modern technology.

Vibrant Community

Queen’s University is located in the heart of Kingston, Ont., a city rich in history and culture, featuring a vibrant food, arts and events scene. Located along the shores of Lake Ontario, the Limestone City offers the best of both worlds – a dynamic, small city that’s close to Toronto, Montreal, Ottawa, and major U.S. centres.

Research Excellence

A member of the U15, Queen’s ranks highly in terms of research funding and intensity. At Smith, our faculty is made up of outstanding teachers and distinguished researchers. They collaborate with scholars worldwide, publish in leading journals, and contribute to advances in business and society through exceptional research.

Queen's School of Graduate Studies

Smith’s PhD program is part of the School of Graduate Studies, which oversees the admissions process and provides support services for the more than 125 graduate programs and 4,200 graduate students at Queen’s University.

Search for academic programs , residence , tours and events and more.

Management (PhD)

Located in the Lazaridis School of Business and Economics , our PhD in Management program will turn you into an advanced researcher with both theoretical and practical understanding of the complex problems of business management. We offer five distinct fields, including:

• Organizational Behaviour and Human Resource Management

Supply Chain, Operations and Technology Management

Develop unparalleled research abilities.

Work alongside leading academics.

Apprentice-style approach to learning.

Let's Talk About Your Future

We understand that pursuing a doctoral degree is a big decision. We’re here to help you work through your options to choose the program that is right for you.

We offer information sessions and one-on-one consultations to help you make the best decision. The sooner we connect with each other, the closer you are to realizing: it’s what’s inside that sets us apart.

Request a Pre-Application Consultation

Events Calendar

‘Ask us Anything’ Drop-in Session: Lazaridis Graduate Programs

Program Details

Program structure.

The program is structured to be completed in four years.

In the first two years, you will complete 11 half-credit courses and write the comprehensive exams. Comprehensive exams are typically completed at the end of your second year.

In the third and fourth years of the program, you will focus on completing your dissertation proposal and dissertation. In order to develop and refine your research skills, you are expected to engage in research throughout the program.

You will also complete a non-credit course on university teaching.

Faculty with Supervisory Status

While we do not require you to have an approved faculty supervisor selected when you apply, we encourage prospective applicants to learn about the interests and ongoing research of our faculty members. If you'd like to connect with a professor about their research work, email [email protected] and we can connect you with them.

Available Fields

Challenge yourself and work with experts in your field as you write and defend your doctoral dissertation. You can pursue research in any of our five fields: 

• Accounting  

The Accounting field in Laurier’s PhD in Management program prepares you for an academic career. You will be encouraged to focus your learning and research in empirical financial accounting or behavioural accounting.

Our program provides students with a breadth of knowledge of accounting theory and research methodologies. Through teaching and research assistantships, coursework, seminars, and independent research, students develop analytical and interpretive skills as well as intellectual independence. We welcome applications from students in accounting or related fields, such as finance or economics.

We have one of the largest Accounting programs in Canada with 34 faculty and lecturers. Over the past 21 years, we have had 10 gold medallists on the Uniform Final Evaluation (now the Common Final Examination, administered by CPA Canada); this is more than any other university in Canada.

PhD in Management, Accounting Field Coordinator:

• Jonathan Farrar, PhD
• See all Lazaridis faculty members in Accounting

Research Environment: Accounting

You will work independently and ethically in an advanced research program and will receive training in conducting original research, preparing scholarly publications, and communicating knowledge.

As a student in the Accounting field you will have access to:

• A small student-to-faculty ratio.
• Excellent research facilities through the Lazaridis School of Business and Economics and the CPA/Laurier Centre for the Advancement of Accounting Research and Education.
• Research funding and external grants.
• Cutting-edge research.

Course Offerings: Accounting

Accounting students can focus their learning and research in empirical financial accounting or behavioural management accounting. Below are the course offerings for each respective focus.

Empirical Financial Accounting courses:

• BU801: Management Foundations
• BU802: Research Methodology
• BU817: Survey of Accounting Research
• BU827: Seminar in Financial Accounting
• BU837: Seminar in Management Accounting
• BU843: Seminar in Advanced Financial Econometrics
• BU847: Seminar in Archival Research in Accounting
• EC620: Microeconomics I
• EC640: Macroeconomics I
• EC655: Econometrics
• MF703: Seminar in Corporate Finance

Behavioural Management Accounting courses:

• BU800: Fundamentals of Behavioural Research
• BU804: Organizational Behaviour
• BU842: Consumer Behaviour
• BU857: Seminar in Behavioural Research in Accounting
• MS700: Univariate and Multivariate Statistics
• PS800: Advanced Multivariate Methods

Candidate Profiles: Accounting

• Huzaifa Faizan
• Nicholle Kovach
• Harjot Mehmi
• Oluwasegun Popoola
• Kainan (Paul) Xiong

Graduate Placements: Accounting

Academic Placements

The Finance field in Laurier’s PhD in Management program is designed for the brightest and hardest-working individuals who are seeking academic and research positions. We welcome applications from students in business and related fields, such as economics, accounting, statistics and mathematics.

Our invigorating research environment is supported by highly productive and internationally recognized scholars who publish in top journals. As well, many of our graduate students have won best paper awards at conferences and have published their work in high-ranked journals.

Building on finance theory, our PhD students undertake research in four key areas of financial management: financial markets, corporate finance and governance, options and futures, and market microstructure.

PhD in Management, Finance Field Coordinator:

• Diego Amaya, PhD
• See all Lazaridis faculty members in Finance

Research Environment: Finance

We create a nurturing environment where you have access to:

• Funding and help to apply for external grants to attend and present at premier conferences.
• Widely used databases, such as WRDS, Bloomberg, Datastream, Markit, OptionMetrics.
• A weekly finance seminar series.
• A personalized approach and a small student-to-supervisor ratio.
• Excellent research facilities through the Financial Services Research Centre.

Course Offerings: Finance

• BU753: Empirical Studies in Fixed Income
• BU803: Theory of Asset Pricing
• BU823: Seminar in Financial Economics
• BU833: Empirical Asset Pricing
• BU853: Market Microstructure, Trading and Investment Strategies
• BU863: Empirical Corporate Finance

Candidate Profiles: Finance

• Thi Minh Hien Nguyen
• Manisha Thapa

Graduate Placements: Finance

Non-Academic Placements

The Marketing field in Laurier’s PhD in Management program offers you the opportunity to conduct research on contemporary topics of theoretical and managerial significance. Our areas of specialization include consumer behaviour, innovation, marketing strategy, brand management, and services marketing. We welcome applications from those with education and/or experience in business and marketing or a relevant field such as psychology and economics.

Our program centres on theory development, empirical analysis, and developing managerially relevant knowledge. It builds on core theories from marketing and other disciplines (including psychology, economics, and decision sciences). You will have the opportunity to acquire a broad range of methodological skills including experimental design, surveys, qualitative research, and quantitative modelling. Our focus is to hone your research skills both through course work and by actively collaborating with you in new or ongoing research projects.

PhD in Management, Marketing Field Coordinator:

• Fang Wang, PhD
• See all Lazaridis faculty members in Marketing

Course Offerings: Marketing

• BU812: Marketing Philosophy and Theory
• BU818: Qualitative Research Process
• BU822: Marketing Strategy
• BU852: Service and Relationship Marketing
• BU862: Research in Brand and Product
• BU872: Special Topics in Marketing

Candidate Profiles: Marketing

• Sara Harcourt
• Sakshi Korde
• Jeeshan Mirza
• Andrea Reaume
• Mohammad Simjour
• Jee Hyuk Wi
• Fatemeh Vafaee Sefat

Graduate Placements: Marketing

Consumer Research Lab

The state-of-the-art Consumer Research Lab is equipped with 20 computer terminals, a projector, and software for controlled experimental studies and survey-based, online data collection. The lab also includes a small break-out room with a one-way mirror for focus groups, interviews, and other tasks relevant to research studies.

Organizational Behaviour and Human Resource Management (OB/HRM)

Our PhD in Management degree program with a concentration in Organizational Behaviour (OB) and Human Resource Management (HRM) is a four-year program. In the first two years, you will complete courses and your comprehensive exams. In years three and four, you will focus on research with your supervisor and other faculty members. Opportunities for teaching are also available. If you complete your MSc in Management with us, you will receive credit for those courses you have already completed, which can decrease the length of the time it takes to complete this degree. This program is designed for students who wish to become academics and researchers.

PhD in Management, OB/HRM Field Coordinator:

• Lindie Liang, Associate Professor
• See all Lazaridis faculty members in OB/HRM

Research Environment: OB/HRM

Why choose OB/HRM at Laurier?

You will have the opportunity to work closely with leading scholars in the field of OB/HRM and be involved with cutting-edge research throughout your studies. Building a strong research foundation (including exposure to different theories and methodologies) is important for success in your future career.

We only admit a small number of students each year to ensure that our students can receive the mentoring that they need to succeed in an academic career. You will receive personalized guidance and individualized attention as you develop your own research and prepare for your career.

Our faculty members devote an extensive amount of time and energy into developing our students’ research capabilities and skillsets. You will be encouraged to join projects that can build this foundation and provide you with opportunities to start building your résumé with conference presentations and publications.

Learning Outcomes: OB/HRM

You can expect coursework that is designed to provide a solid theoretical foundation in OB/HRM combined with exceptional statistical and methodological training, including research methods, research design, and quantitative analyses. You will also have the opportunity to delve deeper into topics with special topic courses, electives, and directed studies.

You will conduct your own research under the guidance of our faculty supervisors. You are expected to engage in research throughout the program, culminating in the completion of your dissertation.

You will have exposure to cutting-edge research from our faculty supervisors and guest speakers, as well as networking opportunities within the academic community.

Course Offerings: OBHRM

• BU814: Human Resource Management
• BU899: Doctoral Dissertation
• Five electives chosen in consultation with the OB/HRM field coordinator

Note:  Students admitted into the PhD program from the Laurier MSc in Management will be exempt from some courses already completed at the master’s level.

Candidate Profiles: OB/HRM

• Jane Phillips
• Sabah Rasheed

Graduate Placements: OB/HRM

The disciplines of Supply Chain, Operations and Technology Management seek answers to fundamental questions about the design, production, and delivery of goods and services. We welcome applications from students with backgrounds in business, mathematics, engineering, economics and related fields. Graduates of our PhD are prepared for a career in academia or research.

PhD in Management, Supply Chain, Operations and Technology Management Field Coordinator:

• Mojitaba Araghi, PhD
• Browse all faculty in Supply Chain, Operations and Technology Management

Research Environment

• A personalized approach with a small student-to-faculty ratio.
• Cutting-edge research training by active leading researchers.
• Our Centre for Supply Chain Management whose mission is to create close ties between industry and academia.
• Our "Distinguished Speaker Series," which brings in world class presenters from around the globe.

Our faculty are leading researchers in fields such as sustainable and closed-loop supply chain management, logistics and transportation, operations management, management of innovation and technology, and stochastic modelling.

Over the past five years, faculty in Supply Chain, Operations and Technology Management have received more than $1 million in research grants from funding agencies, including the Natural Sciences and Engineering Research Council of Canada (NSERC) and the Social Sciences and Humanities Research Council of Canada (SSHRC), as well as grants from industry, including $500,000 from CN Rail. Our faculty members have published their research in top-tiered academic journals, including Management Science, Production and Operations Management, Manufacturing & Services Operations Management, JOM, JORS, Annals of OR, EJOR, Financial Management and IIE Transactions, to name just a few.

Selected Research Topics

• Customer acquisition, retention, and service quality for a call center: Optimal promotions, priorities, and staffing.
• Socially optimal location of facilities with fixed servers, stochastic demand and congestion.
• Flow control in capacity-constrained queueing systems with non-stationary arrivals.
• The effect of demand-supply mismatches on firm risk.
• Cost Analysis of an (S-1,S) Inventory system with two demand classes and rationing.
• Towards more innovative, eco-efficient sustainable product designs: Proposing a new DEA-based methodology.
• Corporate payout policy, cash savings, and the cost of consistency: Evidence from a structural estimation.
• An analysis of a widely used version of the CUSUM tracking signal.
• Inventory competition for news vendors with profit targets.
• Transshipment between competitive retailers.
• Three essays in product development: Competition, sustainability and channel structure.
• Modeling and analysis of value-based healthcare delivery.
• Exploring hopes and fears from supply chain innovations: An analysis of antecedents and consequences of supply chain knowledge exchanges.
• The transient collaboration model: Theory building, structural formation, and network operationalization.
• BU805: Deterministic Quantitative Analysis
• BU815: Stochastic Analysis and Simulation
• BU825: Foundations of Supply Chain Management
• BU845: Seminar in Supply Chain Management I
• BU855: Seminar in Supply Chain Management II
• BU859: Foundations of Operations Management

Candidate Profiles

• Amirhossein Adhami
• Atousa Akhlaghy
• Tina Arabian
• Shervin Esbahbod
• Mohammad Mehdi Jourabchi
• Negin Karimani
• Parang Zadtootaghaj

Graduate Placements

"We provide a supportive and personalized approach that enables our students to get involved in state-of-the-art research. Our candidates graduate with skills, knowledge and experience in demand by academia, industry and government organizations."

Madhu Kalimipalli, Professor

The AACSB accreditation is based on a portfolio of performance metrics and that includes high quality teaching, high quality research and a high quality environment that we provide for our students.

Take the first step in your graduate education and apply to one of our graduate programs. Follow our three-step admission process — we’ll walk you through how to apply and prepare for your first day as a graduate student.

• Start: Fall (September) only
• Format: Full-time
• Jan. 15: First consideration deadline
• March 15: Final application deadline for international applicants
• Aug. 15: Final application deadline for domestic applicants

Applications are accepted on a rolling basis within deadlines until we reach enrolment capacity.

Note: Domestic and international applications for the MSc and PhD in Management program are no longer being accepted for the September 2024 cohort. If you are interested in applying to these programs for the September 2025 cohort, please connect with a recruiter at [email protected] .

Admission Requirements

• A master’s degree in business or related field with a minimum B+ standing.
• Evidence of strong quantitative skills, normally by successful completion of the GMAT Focus exam with a score of 595 or higher (formerly GMAT score of 650 or higher). You can consult the GMAT conversion table . We will also accept a GRE score. A GRE score must convert to the minimum 595 GMAT Focus score required. Please note that the GMAT/GRE requirement is mandatory for the application and cannot be waived.
• Proficiency in English.
• Applications are reviewed by the graduate program committee, which considers all prior university grades, a statement of research interests, an academic writing sample, and letters of reference.

Application Checklist

Applications will be considered until the program is full.

After you have submitted your OUAC application , paid the non-refundable application fee, and Laurier has received your application, you'll receive an email from [email protected] advising you to upload the additional required documentation to Laurier’s Online Registration and Information System (LORIS) .

Please note, the application process and the uploading of supplemental documentation, which includes references, typically takes two weeks. To avoid disappointment, apply early.

An application for admission to our PhD program in Management must include:

• The OUAC Application Summary, which is generated after you complete your OUAC application (log back in to OUAC to retrieve it).
• Transcripts of all undergraduate and graduate work. Documents must be dated within the past six months.
• A completed statement of intent.
• A resume of your academic and work experience. Include a history of your publication and scholarly paper activity and any other information you feel will interest the admissions committee.
• A sample of your scholarly writing (10-20 pages in length). This may be a chapter of your master's thesis or a paper written for a graduate course.
• Completed reference forms . Two academic references are required. Note: Reference forms are electronically submitted to Laurier by the referee and do not need to be uploaded.
• Graduate Management Admissions Test (GMAT) test scores. GMAT test scores of at least 85 percentile are standard. Where appropriate, corresponding Graduate Records Examinations (GRE) scores will be accepted.

Visit our Graduate Admissions Toolkit for more information about applying.

English Proficiency

Proficiency in written and spoken English is essential to graduate studies at Laurier. Applicants whose language of instruction during their previous postsecondary education was not in English must submit evidence of proficiency in English. If applicable, results from accepted testing services must be uploaded to  LORIS .

Your Next Steps

Tuition and funding.

Regardless of the type of graduate degree program you intend to pursue, financial planning is important. At Laurier, we want to provide you with as much information as possible about a variety of scholarship and funding opportunities and equip you with the skills to manage your finances effectively in the years to come.

Graduate Tuition and Funding

Lazaridis Institute for the Management of Technology Enterprises

With the announcement of the   Lazaridis Institute for the Management of Technology Enterprises , special funding will be available to students concentrating on the application of innovation and technology management as it relates to their respective fields of interest.

Waterloo Campus

This program is available on Laurier's Waterloo campus.

Laurier's Waterloo campus is home to more than 19,000 graduate and undergraduate students. Tucked into several city blocks, this campus is walking distance to your classrooms, food, and various campus amenities.

Laurier is a leading force in research among Canadian universities, and many of our research centres and institutes are housed in Waterloo.

Learn more about Laurier's campuses .

"With contributions from several university-based partners, ASPIRE provides graduate students and postdoctoral researchers with informative, hands-on professional skills training essential for degree and post-degree success."

Brent Wolfe , Associate Vice-President and Dean, Faculty of Graduate and Postdoctoral Studies

The Lazaridis School is committed to providing PhD candidates with a solid foundation from which to build successful academic careers. Many of our graduates receive offers for assistant professor and tenure-track positions from universities around the world, including:

• York University
• McMaster University
• University of British Columbia
• University of Waterloo
• SUNY Fredonia
• University of Memphis
• Kean University
• Zayed University, UAE

Not all of our graduates go on to pursue academic careers; some find success working for organizations in which they can apply their expertise in other ways. Graduates with non-academic positions include:

• Hosein Nooriaan, Senior Analyst, Risk Management, RBC Group
• Yunhua (Julie) Zhu, Senior Associate, PwC
• Gregory Tanguay, Marketing Director, Laborie
• David Whiteside, Happiness Research Fellow, Plasticity Labs
• Sara Babaee, Software Developer in Optimization, NAVBLUE an Airbus Company
• Tannaz Mahootchi, Senior Methodologist, Operations Research, Cancer Care Ontario

Program Recruiters

Brenda Burns Graduate Program Recruiter

Victoria MacKenzie Graduate Program Recruiter

Looking for more info? Contact the Lazaridis School .

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Your PhD in Administration

PhD in Administration

Applications for Fall 2024 will be accepted between August 15 th , 2023 and December 8 th , 2023.

We strongly encourage all those considering applying to the Schulich PhD in Administration or those seeking more information to first watch the helpful ‘Schulich PhD in Administration Program Overview and Application Tips Information Session’  for the Fall 2024 intake.

The Schulich doctorate comprises four tightly linked phases of study: coursework to acquire in-depth knowledge of your field of study; a comprehensive examination to demonstrate your mastery of the subject matter; defense of a formal research proposal; and a dissertation.

From the outset of the PhD program, you are invited to start thinking about the direction of your research. Scholarly development through the presentation and publication of papers with professors and other students is a cornerstone of the program.

Want to learn more?

View all program details, view course offerings, application tips and faqs, meet our students.

“My time at Schulich has truly been one of the best experiences of my life. I have so many fond memories of how vibrant the research culture was and how incredibly generous the professors, fellow students, and staff were - and frankly, still are - with me.” Marie-Agnès Parmentier, PhD 2009 Associate Professor, Marketing, HEC Montreal

Explore our PhD Specializations.

At Schulich, our expertise in various specialized areas of study will help you meet your unique career objectives and give you a competitive career advantage.

• Operations Management & Information Systems
• Organization Studies
• Strategic Management
• Sustainability

Career Opportunities

Prepare for a stimulating career in academic teaching and research. Graduates from this rigorous program of study contribute to the knowledge and global practice of business through tenure stream positions at leading universities in Canada, the U.S. or abroad.

PhD in the News

Professors Henriques and Diamant Honored at Research Day 2024

Father of Stakeholder Theory to speak at Schulich COERB Event

Accountants Have Clearer Guidelines When it Comes to Reporting Illegal Acts

Phd program details by category, admission requirements, requirement checklist.

• Exceptional candidates with a bachelor’s degree may be considered.
• Masters degrees in Business (MBA’s) from South Asia may require further academic qualifications for consideration.
• A degree certificate will be required if the transcript does not indicate graduation or completion from a program.

• Acceptable scores on all measures of the Graduate Management Admission Test (GMAT) or the Graduate Record Examination taken in the last five years.
• While we do not have a minimum GMAT or GRE cut-off, it is recommended that candidates present a competitive score of 650 and above in the GMAT or 320 and above in the GRE.
• To send your scores for these tests to us please use the following codes: GMAT code Z75-X8-80 or GRE code 5697
• Prior research experience is strongly recommended.
• The online application requires: essays (written), an updated résumé and 3 recommendations. Copies of transcripts, GMAT or GRE scores, and language proficiency test scores (if applicable) may be uploaded to facilitate the initial review process. Note that unofficial documents are sufficient at the application stage.

The PhD program is offered on a full-time basis only. Full-time studies start in September of each year.

The Fall 2024 PhD Application portal will open on August 15 th , 2023.

Fall 2024 Application Deadline: December 8, 2023

Please complete all sections (personal information, education, program of study, payment) of the online application and upload all supporting documentation (e.g. Curriculum Vitae, Scanned Transcripts, Unofficial GMAT or GRE results, and proof of English Proficiency – TOEFL or IELTS (if applicable) by the deadline date. Hard copies of supporting documents are not required at the time of application. Official transcripts and official copies of test scores are only required once an offer of admission is made.

Admissions Decision:  March 2024

For additional admissions information and/or questions about the application process, contact the Schulich PhD Admissions team through our Graduate Enquiry Form. 

View PhD Program Details    Apply Now!

Tuition & Fees

For information on PhD fees, please see York University’s Graduate Student Fees table.

To learn more about the funding offered to PhD students please review PhD Financial Assistance.

Students entering Schulich’s PhD program may expect to receive $30,000 (domestic) and $43,000 (international) each year, up to five years. This funding is guaranteed, provided that students remain in good standing, show satisfactory progress in their work, maintain full-time status and fulfill the expected requirements. If a student defends his/her dissertation proposal before September 15 in his/her fourth year (i.e. start of term 10), he/she is eligible to receive an additional $2000 in year four. Funding in years one through three is tied to a research assistantship. Details are available from the PhD program.

In addition, students will have opportunities to pursue special awards through Schulich and York University and options for working on and off campus. For full details click below.

Financial Aid for PhD Students

Study Options

The PhD must be taken on a full-time basis for the first two years of study. To remain eligible for funding, students must maintain their full-time status.

Available delivery options

• Full-time 48 to 72 months

Location(s)

• Keele Campus Toronto

The requirements to successfully complete the program are outlined below in “Curriculum Overview.”

Curriculum Overview

Candidates for the PhD degree must complete studies in one of the following major fields: Accounting, Organizational Studies, Finance, Marketing, Strategic Management, or Operations Management and Information Systems. They must also complete a series of methodological courses relevant to that major field.

 Learn more about PhD Course Types 

Coursework only accounts for one of four phases in the PhD program. For a more detailed overview of the PhD program’s four broad phases of study, view program requirements (below)

The courses you take are dependent on your particular program of study and research interests. To see which courses are required for your area of interest, view specializations (below) .

To browse all of our course offerings, view current PhD course offerings or visit our Course Catalog .

Coursework is intended to prepare students to carry out leading-edge research in their major field. A student’s coursework plan is developed in consultation with the faculty member from the student’s field who has been assigned as an advisor.

Students entering the PhD program without an MBA degree are required to do a number of Schulich MBA 1 Required Foundations of Management Core Courses.

Students must complete the following course requirements:

• A core of courses designed to support necessary methodology training
• A minimum of four courses in the major field
• A minimum of two electives in topics related to the major field, approved by the PhD program coordinator in the candidate’s major field of study.

These courses will normally be chosen from those offered at the 7000-level at the Schulich School of Business. With permission, some may be chosen from those offered at the graduate level by other graduate programs or at other academic institutions.

Comprehensive Examination

Each student must pass a comprehensive examination before proceeding to formal work on her or his dissertation. Comprehensive examinations are designed to demonstrate competence and knowledge in the field. The examination is set and administered by the faculty within the student’s major field.

The Faculty regards the comprehensive examination as a pivotal point for deciding whether students should be allowed to proceed with their studies or be encouraged to withdraw from the program.

Dissertation Proposal and Oral Defence

Candidates must prepare a written proposal to conduct original dissertation research carried out under the supervision of a supervisory committee and must defend this to the satisfaction of the thesis supervisor and members of the committee.

Dissertation and Oral Examination

Candidates must prepare a dissertation based on original research carried out under the supervision of a supervisory committee and submit the results in appropriate dissertation form. After the formal submission of the dissertation, an oral examination is held. It is expected that all or part of the dissertation will be published following professional or scientific review.

The Schulich School of Business continues to accelerate in its commitment to research excellence across all functional and program areas and through thriving interdisciplinary initiatives within Schulich and beyond. Fundamental to our success in advancing knowledge and understanding in business has been the continued recruitment of researchers of the highest distinction and calibre.

Browse our PhD specializations for faculty profiles by academic area.

Teaching & Learning Online

Program faculty members

Professor of Strategy and International Business; Pierre Lassonde Chair in International Business; Area Coordinator, Strategic Management

Professor of Strategic Management; Executive Director, York Change Leadership (YCL)

Professor of Finance; Bob Finlayson Chair in International Finance

Professor of Marketing; Kraft Foods Canada Chair in Marketing

Professor of Sustainability Accounting; Erivan K. Haub Chair in Business & Sustainability

Professor of Marketing; Director, PhD Program

Professor of Entrepreneurship and Strategic Management

Associate Professor of Operations Management and Information Systems; York Research Chair in Managing AI-Driven Technologies in Health Care

Professor of Finance

Professor of Public Policy and Sustainability; Director, BBA/iBBA Programs

Professor of Accounting

Professor of Strategic Management

Professor of Marketing; Associate Dean, Research; Anne & Max Tanenbaum Chair in Entrepreneurship and Family Enterprise

Professor of Marketing

Associate Professor; Ann Brown Chair in Organization Studies

Professor of Operations Management and Information Systems; Program Director, Master of Supply Chain Management

Professor of Accounting; Associate Dean, Students; Ron Binns Chair in Financial Reporting, Banking and Governance

Associate Professor of Finance

Professor; RBC Chair in Social Innovation & Impact; Area Coordinator, Sustainability

Program Director, MBA in Technology Leadership; Professor of Operations Management and Information Systems; Special Advisor, AI & Business Analytics

Professor of Operations Management and Information Systems; CPA Ontario Chair in International Entrepreneurship; Co-director of Entrepreneurial Studies

Associate Professor; York Research Chair in Stigmatization and Social Identity

Professor of Strategy; Scotiabank Chair in International Business and Entrepreneurship

Professor of Finance; Scotiabank Chair in International Finance

Associate Dean, External Relations; Canada Research Chair (Tier II); Professor of Marketing

Program Director, Master of Marketing; Associate Professor of Marketing

Canada Research Chair in Supply Chain Management (Tier 1); Professor of Operations Management and Information Systems

Associate Professor of Organization Studies; Area Coordinator, Organization Studies

Associate Professor of Organization Studies

Professor of Finance; Area Coordinator, Finance

Professor of Strategic Management; Newmont Endowed Chair in Business Strategy

Associate Professor of Organization Studies; Associate Dean, Academic

FCA, FCPA (Ontario); Professor of Accounting; Area Coordinator, Accounting

Marketing Area Coordinator; Associate Professor of Marketing

Professor of Operations Management and Information Systems; Director, Master of Business Analytics; Director, Master of Management in Artificial Intelligence

Program Director, Master of Management; Associate Professor of Organization Studies

Associate Professor of Operations Management and Information Systems

Assistant Professor of Supply Chain Analytics

Assistant Professor of Operations Management and Information Systems

Assistant Professor of Finance

Student Research

Select a PhD specialization to learn more about recent student research, publication and placement.

Application FAQs and Tips

1. how do i apply.

Start by creating a profile in our online system . Once you submit your profile page, check your email to create a password for your application. It may take up to 15 minutes for the email to arrive. Save that email for reference, as it also contains the permanent link to the application portal. You will then be able to begin your application and upload your documents.

2. How much does it cost to apply?

The application fee is $150CAD payable online with any major credit card.

The PhD program does not offer application fee waiver.

3. Do you offer application fee waivers?

4. when will a decision be issued.

Applications will be reviewed following the application deadline. Decisions will be made in March/April.

5. Do I need to send in official documents?

Official documents are not required at the application stage .

You can apply with unofficial documents that are scanned and uploaded to your application. Please ensure all information on scanned documents is clear and legible. The grading scale or legend must be included with the uploaded transcript for each institution; this information is often found on the back or at the end of the transcript. Unofficial test results must be submitted with your application. Required test results need to be submitted prior to the application deadline to be considered.

Official documents are only required following an admissions decision. If admitted to the program, final official transcripts must be submitted before the term start date (early September). Official transcripts and test results must be mailed or emailed directly from the issuing institution.  If my mail:

Graduate Recruitment & Admissions, Room W263B Seymour Schulich Building Schulich School of Business – York University 4700 Keele Street Toronto, Ontario Canada, M3J 1P3

** If the institutions that you have attended provide Official Transcripts in digital format, you may arrange with your institutions to send the official transcripts directly to us via email to [email protected] . (Note: Only transcripts received directly from the institutions are considered official.)

For questions on admission on conditions, please visit http://futurestudents.yorku.ca/admission-conditions

6. Which part of the application is most important?

We take a holistic approach during the application review process and all components of the application are thoroughly reviewed. There is no particular weight assigned to any of the components in the application.

7. Is there a word limit to the essay questions?

No, there is no word limit for the essays.

Applicants are required to provide a written statement in the “Essays” section of the application. This is the statement where you will describe your motives for pursuing PhD studies. Your statement of intent should include:

1) your specific research interests 2) why you have selected your chosen field 3) your career plans

We suggest to provide responses to the questions that equals 1-2 pages in length.

8. Is the GMAT or GRE a mandatory requirement and can this be waived?

Yes, the GMAT or GRE is mandatory.

GMAT or GRE is a requirement of the program and cannot be waived.

All applicants are required to complete the GMAT or the GRE if they wish to be eligible for admission, regardless of their academic or professional profile.

9. What is minimum competitive GMAT or GRE score?

While we do not have a minimum GMAT or GRE cut-off, however, it is recommended that candidates present a competitive score of 650 and above in the GMAT or 320 and above in the GRE.

10. What are the minimum scores required on the acceptable English language tests?

The following minimum scores are acceptable for admission consideration:

11. Can the English language test requirements be waived?

If you have studied full-time at a university where the language of instruction and examination were English for at least 1 year you will not be required to submit an English proficiency test score.

Please note that your official university transcripts or supporting documentation from the university must state the degree was taught in English .

12. Is a supervisor identified before or after admission? Is admission conditional upon securing a supervisor?

Applicants are not required to secure a supervisor before applying to the PhD program.

Your supervisor is typically identified after admission and admission is not conditional upon securing a supervisor. However, we encourage our applicants to connect with our area representatives (see PhD program specializations) to discuss research interests and learn more about each area.

13. Can I use professional references instead of academic references?

You will enter your information into Step 7 of the application form. Full details can be found within the application. Please choose referees, or recommenders, who are most familiar with your potential as a scholar and researcher.

General guidelines for choosing your referees:

• Referees are typically research professors, or others who are able to comment on your scholarly and educational goals.
• Referees should know you well and be able to attest to your past performance, potential, and qualifications for completing a Ph.D. in business and a scholarly career.
• Referees who have served as a research supervisor or a similar role are most preferred.
• Referees cannot be relatives or friends. Schulich cannot offer advice on the suitability of your referee – only you can decide who will best represent you.
• Referee information should be complete, and references should be submitted on time to meet the program deadline.
• Referees must complete the online reference form, recommendation letters will not be accepted.

14. How much is tuition and what financial aid opportunities are available?

For information on PhD fees, please see York University’s Graduate Student Fees table.

View Graduate Program Fees Structure FAQs

Please visit our PhD Financial Assistance page for more information on financial support and scholarships available to full-time doctoral students.

15. I don’t have my GMAT/GRE score yet. Can I complete and submit my application now and then take the GMAT or GRE and submit the score later?

Yes, but you will need to indicate your scheduled GMAT or GRE test date in the initial stages of your application. Also keep in mind that the PhD application must be submitted by the application deadline (December 8th, 2023 for the Fall 2024 intake) and the GMAT or GRE score must be received no later than December 15th, 2023. If the GMAT/GRE is not received by that date, the application will be eliminated from consideration.

16. I have read the information above but have a question I can’t find the answer to. Who can I contact?

Please connect with the PhD admissions team here: https://schulich.yorku.ca/admissions/connect-with-us/grad-inquiry/

• Anticipated Start Year: --None-- 2016 2017 2018 2019 2020
• Term: --None-- Fall Winter Summer

• Phone: +91 8466016171
• Whatsapp: +91 8208375580
• Email: contact@leapscholar.com

PhD in Finance in Canada: Best Doctorate Degrees & Top Universities

• Updated On December 19, 2022
• Published In Courses 📖 , Study in Canada 🇨🇦

Finance is the base on which the business world rests. Pursuing a PhD in finance not only helps you study the subject in-depth, but it also enables you to teach finance as a professor in renowned universities all over the world. This blog will help you understand what pursuing a PhD in finance in Canada entails, which universities you can apply to and what is the growth prospect. You can also read about doctorates in other fields related to business such as management and administration among many others on our website.

Table of Contents

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What is PhD in Finance?

A PhD in finance is a doctorate that can be pursued after completing your postgraduate studies and occasionally right after your undergraduate. PhD in finance aims at creating strong researchers who are capable of teaching the subject at various universities and solve larger economic problems of the countries. The program is generally four years long and includes 2 years of comprehensive studies followed by working under a supervisor to develop researching capabilities and preparing a thesis.

A doctorate in finance can be achieved through a PhD in finance as well as a DBA in finance. Both of these degrees provide students with theoretical as well as empirical knowledge about modern finance and global economics. 

PhD in Finance vs DBA in Finance

If you are looking to acquire a doctorate in finance, a PhD in finance and a DBA in finance are the most ideal options. Both of the degrees are similar in their coursework and structure. Both of them include exams and a doctoral dissertation. The span of both courses is between 4 to 5 years. However, the approach and objectives between the two differ from each other. 

Doctor of Philosophy in Finance or PhD in Finance is an academic degree and follows a theoretical approach. Along with increasing your knowledge about business, a PhD in finance paves the way for you to be an academic researcher and university professor. If you pursue PhD in finance, you can also take up roles in organizations that require specialization.

A Doctorate of Business Administration or DBA in Finance is a professional degree that focuses on applying financial knowledge to real-world business problems. Rather than going for an academic approach, a DBA degree emphasizes using theory and research in solving business issues. This degree will enable you to take up a role in corporate leadership and management as the coursework of this degree is based around it.

It goes without saying that you should choose between these two courses based on your interest, career vision and future prospects.

Check Your Eligibility for 80+ Universities across Canada

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Why pursue a PhD in Finance in Canada?

The decision of doing a PhD in Finance program will help you gain in-depth knowledge about statistics, financial markets and corporate finance. Being a program focused on empirical research, a PhD in finance polishes you as a researcher and makes you capable of conducting independent studies and writing research papers.

A doctorate from Canada has perks of its own. The country being an attractive destination for international students, studying a PhD in finance in Canada gives you the following advantages over studying in other countries:

• Financial aid : Universities in Canada offer a multitude of financial aid to students pursuing doctoral degrees. A high number of scholarships within the universities as well as from organisations outside the university make Canada an ideal destination for international students.
• Working while studying : Students enrolled in Canadian universities can work on campus for unlimited hours. In the case of off-campus work, students are allowed to work for up to 20 hours a week. This system can help you create an extra source of income and manage your expenses.
• World-Class Universities and Faculty : With universities like McGill University and the University of Toronto , among many others, Canada houses some of the highest-ranking business schools in the world that provide top-notch education to their students.
• Affordable tuition fees – Doctoral programs from Canadian Universities are available to students at very affordable fees and reasonable pricing. Along with an affordable fees structure, students get other benefits such as merit-based scholarships, teaching assistantships, and research assistantships which can further help reduce the financial burden.

PhD Program Requirements

The following eligibility criteria need to be fulfilled for successful admission into a PhD in finance degree in Canada:

• A postgraduate degree in finance, economics, engineering, physics, mathematics or a similar field of study with solid grades and research experience. Some universities also offer admission based on an excellent undergraduate degree.
• Two or more letters of recommendation.
• A research proposal.
• IELTS or TOEFL test scores for students belonging to non-English speaking countries. This exam acts as a measure of your proficiency in the English language. 
• GRE or GMAT test scores.
• After passing the required eligibility criteria, universities might invite you for a personal interview as a final round for selection.

Documents Required

The documents required for applying to a PhD in Finance are similar to the ones required for applying to PhD courses in other fields. They are as follows:

• Online application form and fees : Forms have to be filled out online by students through the university’s official website. Fees for the form needs to be paid accordingly.
• CV/Resume : Creating an impressive CV can increase your chances of selection. Make sure the CV includes all your achievements and work experience in the field of finance.
• Academic or Professional References : References can go a long way in making your application gain more credibility. An academic or professional reference is a prerequisite for applying to PhD programs.
• Personal Statement : A personal statement is a brief overview of yourself. It explains to the committee what your strengths, achievements and level of education is.
• Transcripts : Transcripts of your mark sheets and competitive exams need to be submitted to the university. In some cases, the university might ask you to submit transcripts certified by the institute you completed your previous education from.
• Statement of Intent : A statement of intent is an essay that aligns you with the degree you are applying for. It explains to the committee why you are applying for the program and what ambitions you aim to achieve through the program.

Colleges in Canada that offer PhD in Finance

A PhD in Finance is a wide umbrella that includes many doctoral programs based around finance. The following universities offer degrees in fields related to finance:

University of Toronto (Rank 18)

• Fields of Specialization : Finance theory, economics and empirical methods
• Eligibility Criteria : A master’s degree or equivalent from a recognized university with excellent marks; GMAT or GRE Scores; IELTS/TOEFL Scores
• Funding : Year 1 – $32,000 plus the tuition fee, Years 2-5 – $32,000 plus the tuition fee, Ontario Graduate Scholarship Program (OGS), University of Toronto Fellowship (UTF)

The University of British Columbia (Rank 37)

• Fields of Specialization : Theory of Finance, Theoretical Asset Pricing, Empirical Asset Pricing, Empirical Corporate Finance, Accounting, Management Science, Economics, and Mathematics
• Eligibility Criteria : Completion of a Bachelor’s degree + Master’s degree or M.Phil. Degree with First Class/Division 1 (65%) or Very Good (8 on a 10-point scale); English proficiency test scores; GMAT or GRE Scores
• Funding : Killam Doctoral Scholarships, SERB-UBC Scholarship, Vanier Scholarship, International Tuition Award, President’s Academic Excellence Initiative PhD Award, PhD Minimum Funding

McGill University (Rank 40)

• Fields of Specialization : Financial Economics, Corporate Finance, Empirical Methods in Finance, Continuous-Time Finance, International Finance, Fixed Income Securities Theory, Corporate Governance
• Eligibility Criteria : Master’s-level degree, with a strong academic record; GMAT or GRE Scores; IELTS/TOEFL Scores
• Funding : Guaranteed funding will be $32,622 per year for the first four years, Fifth-year funding will be $20,000+, Doctoral Fellowships, Ontario Trillium Scholarship program

University of Alberta (Rank 131)

• Fields of Specialization : Corporate finance, corporate control, asset pricing, portfolio theory, derivatives, market microstructure, behavioural finance, financial institutions, international finance, and valuation
• Eligibility Criteria : Grade point average (GPA) of 3 on most 4-point grading systems or B on most letter grading systems, based on your most recent two years of full-time study; GMAT or GRE Scores; IELTS/TOEFL Scores
• Funding : Vanier Canada Graduate Scholarship, Izaak Walton Killam Memorial Scholarship, Andrew Stewart Prize

University of Calgary (Rank 200)

• Fields of Specialization : Corporate finance, asset pricing, behavioural finance, valuation, derivatives, corporate governance, financial economics
• Eligibility Criteria : First Class Division, or 8/10 (or 7.5/10 for IIT’s only); GMAT or GRE Scores; IELTS/ TOEFL Scores
• Funding : Full tuition for all admitted students for the first four years. Funding comes in the form of Graduate Assistantships, Alberta Innovates Graduate Student Scholarships program, Alberta Graduate Excellence Scholarship (AGES), Delta Kappa Gama, Entrance Awards, Graduate Award Competition, International Graduate Tuition Award, Mackenzie King, Mitacs, Vanier Canada Graduate Scholarships (CGS)

University of Waterloo (Rank 201)

• Fields of Specialization : Actuarial Science, Biostatistics, Data Science, Quantitative Finance, Statistics, & Statistics-Computing
• Eligibility Criteria : A Master’s degree in statistics or actuarial science with marks equivalent to 78% in Canadian Universities; IELTS 7.0/TOEFL 90; GMAT or GRE Scores
• Funding : Statistics & Actuarial Science Doctoral Entrance Award,  University of Waterloo President’s Graduate Scholarship, President’s Graduate Scholarship (PGS), Fraser Award

Queen’s University (Rank 251)

• Fields of Specialization : Asset pricing, corporate finance, corporate governance market microstructure, financial technologies and innovation and sustainable finance
• Eligibility Criteria : A B+ (77%) average grade for the last 2 years of study; TOEFL 100/ IELTS 7.5; GMAT or GRE Scores
• Funding : Annual funding of $34,000, conditional on satisfactory performance in the program, $6,500 to assist with research expenses and support conference travel, McCall MacBain Sustainable Finance Fellow

University of Manitoba (Rank 351)

• Fields of Specialization : Corporate Finance, International Finance, Investments 
• Eligibility Criteria : An earned Master’s degree from a recognized institution in a management or business discipline with a minimum 3.0 GPA; English proficiency test scores; GMAT 600 or GRE equivalent
• Funding : University of Manitoba Graduate Fellowship Program and the Social Sciences and Humanities Research Council (SSHRC), Banting Fellows and Vanier Scholarship, Pierre Elliott Trudeau Foundation Scholarship, University of Manitoba Graduate Fellowships (UMGF)

Concordia University (Rank 601)

• Fields of Specialization : Corporate finance, investments, derivatives, risk management, international finance, portfolio management, real estate finance, banking, and family firms
• Eligibility Criteria : Master’s degree in any discipline, with minimum cumulative GPA of 3.5 out of 4.3; GMAT 640 or GRE equivalent; IELTS 7.0/TOEFL 95
• Funding : A guaranteed funding of $ 100,000 for 5 years, Out of Province Award, Concordia University Doctoral Graduate Fellowships, Concordia International Tuition Award of Excellence, Concordia Merit Scholarship

How to Apply?

To apply for a PhD program in Finance in Canada, the following steps have to be taken:

• Research about the university that suits your needs.
• Prepare the required documents before applying.
• Apply for the program of the specific university through their online portal from their official website.
• Apply and pay the application fees.
• After successful submission of application and admission into the university, apply for the student visa.

Job Prospects

Doctorate programs generally focus on creating academically sound students with excellent research capabilities. These skills open up new avenues in career paths based around finance. The average salary of a PhD in Finance graduate from a Canadian university can grab the following roles as their career choice:

• Senior Economist
• Business Analyst
• Financial Analyst
• Hedging and Risk Management
• Portfolio Management
• Fixed Income Analysis
• Head of Research
• Economic Staff
• Strategic ICT Specialist

Finance is an ever-growing aspect in the field of business. The requirement of graduates in finance is constant and is bound to increase in the upcoming years. Completing a doctoral degree in finance is the highest academic degree you can achieve in the field. It can help you understand the field better as well as help you grab job opportunities that can only be given to specialists.

Frequently Asked Questions

What fields are explored and studied in a phd in finance degree.

A PhD in Finance explores the following aspects of finance and teaches you about them:

Asset pricing Market microstructure Business analytics Econometrics Capital markets Corporate governance

What is the academic structure of a PhD in Finance degree in Canada?

The span of a doctoral degree in finance in Canada is around 4 to 5 years. The general structure of it is as follows:

1. In the first 1 or 2 years, you will be prepared and taught various specializations in Finance. 2. After this, a comprehensive examination will be done to examine your academic skills. 3. Post-completion of exams, you will be required to work under a supervisor. 4. During this period, you will be asked to prepare research papers, deliver seminars, and write dissertations.

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PhD Program

The Department offers PhD Programs in the following areas:

• PhD Economics
• PhD Economics - International Development Studies

ENTRY REQUIREMENTS

For both programs, students must have the following:

• Master's degree in Economics or Agricultural Economics
• Minimum A- average (first class, or 80%)
• Strong supporting letters of reference (2)
• Proof of English proficiency

SHOULD I APPLY?

Not Sure if You Qualify? We have prepared a flowchart to help you decide whether or not to apply. Click on the following question:

• "Will You Have Completed an MA in Economics by the Summer Before You Plan to Start the PHD?"

PhD programs

Take a deep dive into the topic you love with a phd, at the university of ottawa, you can:.

• Join a select community of researchers and work in state-of-the-art labs – uOttawa is ranked among the top 10 research universities in Canada.
• Study in the heart of the nation’s capital, a bilingual and multicultural setting where networks of senior stakeholders take action on major issues and influence decisions.
• Receive considerable financial support.

“One of the reasons I chose the University of Ottawa is for its multidisciplinary or multi-university thesis committees available to students in their first year of doctoral studies.”

Valérie Costanzo, LL.B., LL.M., lawyer, PhD candidate

Explore ways to finance your doctoral studies

The University of Ottawa has many scholarships or financial support options available to you. As a doctoral candidate, there is also the option to earn money while gaining valuable experience through teaching and research assistantships.

“Supervising doctoral students is a privilege: it allows for the discovery of new research challenges and for the development of sustainable relationships.”

Emmanuelle Bernheim, LL.D., PhD, Full professor, Faculty of Law, Civil Law Section

Take the next step

Check admission requirements

Apply for admission

• Graduate School
• Prospective Students
• Graduate Degree Programs

Doctor of Philosophy in Business Administration in Finance (PhD)

Canadian immigration updates.

Applicants to master’s and doctoral degrees are not affected by the recently announced cap on study permits. Review more details

Go to programs search

The PhD Program in Business Administration welcomes applications from individuals planning research-oriented academic careers.

As well as gaining access to a world of knowledge and opportunity, Sauder PhD students benefit from the individual attention they receive from faculty members - right from the outset of the program. Our faculty members devote extensive time, energy and effort to developing the research capabilities of all of our PhD students.

For specific program requirements, please refer to the departmental program website

What makes the program unique?

Judging by the standards of research achievement, graduate placement, publications and research grants received, the PhD program in Finance at UBC stands at the top of Canadian business schools and among the first rank of North American programs. 

An active group of skilled junior and senior researchers is a distinguishing feature of the finance faculty at UBC. This translates into a rich and heterogeneous portfolio of research interests ranging from game-theoretic models of corporate finance, to applications of Bayesian analysis in empirical finance, to theoretical modeling of equilibrium asset pricing. The wide research interests of the Division allows substantial flexibility for the PhD student in selecting a thesis research topic. 

The ocean and the mountains [...] give Vancouver a sense of peacefulness, even as a major city in Canada. I think this makes UBC a great place to focus on research.

Valentina Rutigliano

Quick Facts

Program enquiries, admission information & requirements, 1) check eligibility, minimum academic requirements.

The Faculty of Graduate and Postdoctoral Studies establishes the minimum admission requirements common to all applicants, usually a minimum overall average in the B+ range (76% at UBC). The graduate program that you are applying to may have additional requirements. Please review the specific requirements for applicants with credentials from institutions in:

• Canada or the United States
• International countries other than the United States

Each program may set higher academic minimum requirements. Please review the program website carefully to understand the program requirements. Meeting the minimum requirements does not guarantee admission as it is a competitive process.

English Language Test

Applicants from a university outside Canada in which English is not the primary language of instruction must provide results of an English language proficiency examination as part of their application. Tests must have been taken within the last 24 months at the time of submission of your application.

Minimum requirements for the two most common English language proficiency tests to apply to this program are listed below:

TOEFL: Test of English as a Foreign Language - internet-based

Overall score requirement : 100

IELTS: International English Language Testing System

Overall score requirement : 7.0

Other Test Scores

Some programs require additional test scores such as the Graduate Record Examination (GRE) or the Graduate Management Test (GMAT). The requirements for this program are:

The GRE or a comparable test is required. Please check the program website.

2) Meet Deadlines

September 2025 intake, application open date, canadian applicants, international applicants, deadline explanations.

Deadline to submit online application. No changes can be made to the application after submission.

Deadline to upload scans of official transcripts through the applicant portal in support of a submitted application. Information for accessing the applicant portal will be provided after submitting an online application for admission.

Deadline for the referees identified in the application for admission to submit references. See Letters of Reference for more information.

3) Prepare Application

Transcripts.

All applicants have to submit transcripts from all past post-secondary study. Document submission requirements depend on whether your institution of study is within Canada or outside of Canada.

Letters of Reference

A minimum of three references are required for application to graduate programs at UBC. References should be requested from individuals who are prepared to provide a report on your academic ability and qualifications.

Statement of Interest

Many programs require a statement of interest , sometimes called a "statement of intent", "description of research interests" or something similar.

Supervision

Students in research-based programs usually require a faculty member to function as their thesis supervisor. Please follow the instructions provided by each program whether applicants should contact faculty members.

Instructions regarding thesis supervisor contact for Doctor of Philosophy in Business Administration in Finance (PhD)

Citizenship verification.

Permanent Residents of Canada must provide a clear photocopy of both sides of the Permanent Resident card.

4) Apply Online

All applicants must complete an online application form and pay the application fee to be considered for admission to UBC.

Tuition & Financial Support

Financial Support

Applicants to UBC have access to a variety of funding options, including merit-based (i.e. based on your academic performance) and need-based (i.e. based on your financial situation) opportunities.

Program Funding Packages

We provide a financial package that includes tuition plus $30,000 per year for the first five years of the PhD Program.

Average Funding

• 7 students received Teaching Assistantships. Average TA funding based on 7 students was $3,810.
• 8 students received Research Assistantships. Average RA funding based on 8 students was $18,511.
• 7 students received Academic Assistantships. Average AA funding based on 7 students was $6,424.
• 9 students received internal awards. Average internal award funding based on 9 students was $19,421.

Scholarships & awards (merit-based funding)

All applicants are encouraged to review the awards listing to identify potential opportunities to fund their graduate education. The database lists merit-based scholarships and awards and allows for filtering by various criteria, such as domestic vs. international or degree level.

Graduate Research Assistantships (GRA)

Many professors are able to provide Research Assistantships (GRA) from their research grants to support full-time graduate students studying under their supervision. The duties constitute part of the student's graduate degree requirements. A Graduate Research Assistantship is considered a form of fellowship for a period of graduate study and is therefore not covered by a collective agreement. Stipends vary widely, and are dependent on the field of study and the type of research grant from which the assistantship is being funded.

Graduate Teaching Assistantships (GTA)

Graduate programs may have Teaching Assistantships available for registered full-time graduate students. Full teaching assistantships involve 12 hours work per week in preparation, lecturing, or laboratory instruction although many graduate programs offer partial TA appointments at less than 12 hours per week. Teaching assistantship rates are set by collective bargaining between the University and the Teaching Assistants' Union .

Graduate Academic Assistantships (GAA)

Academic Assistantships are employment opportunities to perform work that is relevant to the university or to an individual faculty member, but not to support the student’s graduate research and thesis. Wages are considered regular earnings and when paid monthly, include vacation pay.

Financial aid (need-based funding)

Canadian and US applicants may qualify for governmental loans to finance their studies. Please review eligibility and types of loans .

All students may be able to access private sector or bank loans.

Foreign government scholarships

Many foreign governments provide support to their citizens in pursuing education abroad. International applicants should check the various governmental resources in their home country, such as the Department of Education, for available scholarships.

Working while studying

The possibility to pursue work to supplement income may depend on the demands the program has on students. It should be carefully weighed if work leads to prolonged program durations or whether work placements can be meaningfully embedded into a program.

International students enrolled as full-time students with a valid study permit can work on campus for unlimited hours and work off-campus for no more than 20 hours a week.

A good starting point to explore student jobs is the UBC Work Learn program or a Co-Op placement .

Tax credits and RRSP withdrawals

Students with taxable income in Canada may be able to claim federal or provincial tax credits.

Canadian residents with RRSP accounts may be able to use the Lifelong Learning Plan (LLP) which allows students to withdraw amounts from their registered retirement savings plan (RRSPs) to finance full-time training or education for themselves or their partner.

Please review Filing taxes in Canada on the student services website for more information.

Cost Estimator

Applicants have access to the cost estimator to develop a financial plan that takes into account various income sources and expenses.

Career Outcomes

102 students graduated between 2005 and 2013. Of these, career information was obtained for 100 alumni (based on research conducted between Feb-May 2016):

Sample Employers in Higher Education

Sample employers outside higher education, sample job titles outside higher education, phd career outcome survey, career options.

Recent placements of students in the program have included schools such as Columbia Business School, University of Virginia, University of Utah, Arizona State University, University of Oregon, Carnegie Mellon University, University of California at Los Angeles, The University of Texas at Austin and the University of Toronto.

Enrolment, Duration & Other Stats

These statistics show data for the Doctor of Philosophy in Business Administration in Finance (PhD). Data are separated for each degree program combination. You may view data for other degree options in the respective program profile.

ENROLMENT DATA

Completion Rates & Times

Upcoming doctoral exams, tuesday, 23 july 2024 - 10:30am - angu 333, henry angus, 2053 main mall, wednesday, 24 july 2024 - 2:00pm.

• Research Supervisors

This list shows faculty members with full supervisory privileges who are affiliated with this program. It is not a comprehensive list of all potential supervisors as faculty from other programs or faculty members without full supervisory privileges can request approvals to supervise graduate students in this program.

• Agarwal, Isha (Banking; International Finance; Corporate Finance; macroeconomics)
• Baldauf, Markus (Financial Markets; Information Economics; Industrial Organization; Regulation; Market Microstructure )
• Bena, Jan (Financial economics; Finance, n.e.c.; Stock markets; International economics and international finance; Economics of innovation and technical change; Industry economics and industrial organization; Innovation; Corporate innovation; Asset pricing of technological progress; Private equity; Corporate ownership structure; Frictions in raising external finance; Entrepreneurship; Ownership of startup companies; Finance and industrial organization; Product market interactions)
• Bian, Bo (Empirical corporate finance; Productivity; Innovation; Bankruptcy)
• Carlson, Murray (Introduction to capital markets, corporate finance, principles of finance, asset pricing)
• Dias Saraiva-Patelli, Ella (Finance; Asset pricing and international finance)
• Donaldson, R Glen (Risk management, Volatility forecasting, Asset valuation, Financial econometrics, Financial markets and price behavior)
• Favilukis, Jack (Consumption and Production Based Asset Pricing; Heterogeneity and Inequality; Incomplete Markets; Real Estate)
• Fisher, Adlai (Asset pricing, financial econometrics, volatility modelling, corporate finance, mergers and acquisitions)
• Garlappi, Lorenzo (Economics and business administration; Financial Economics; Asset pricing; Macro-Finance; Decision Theory)
• Giammarino, Ronald (Financial management; corporate theory; bank regulation; real options)
• Gornall, Will (Corporate finance ; Venture capital; Banking)
• Heinkel, Robert Lee (Stock markets; Corporate Finance)
• Lazrak, Ali (Finance and Accounting; Economic Phenomena on an Individual or Organizational Level; Asset pricing, Corporate Finance, Behavioral Finance, Household portfolio choice)
• Li, Kai (corporate governance, CEO compensation, mergers and acquisitions, shareholder activism, gender in corporate decision making, board of directors, national culture, innovation, Finance)
• Ortiz Molina, Hernan (Corporate finance and governance, executive compensations, industrial organization, interactions between real and financial decisions )
• Pikulina, Elena (Institutional investors; Corporate finance; Experimental and behavioral finance)

Doctoral Citations

Sample Thesis Submissions

• Essays in entrepreneurial finance and venture capital
• Essays in empirical corporate finance
• The value of intangibles : artificial intelligence, intellectual property, and corporate culture
• Essays on environmental and social issues
• Essays in asset pricing and labor economics
• Essays in empirical corporate finance : the impact of economic uncertainty on the financial markets
• New directions in empirical asset pricing : information, innovation, and stock returns

Related Programs

Same specialization.

• Master of Science in Business Administration in Finance (MSCB)

Same Academic Unit

• Doctor of Philosophy in Business Administration in Accounting (PhD)
• Doctor of Philosophy in Business Administration in Management Information Systems (PhD)
• Doctor of Philosophy in Business Administration in Management Science (PhD)
• Doctor of Philosophy in Business Administration in Marketing and Behavioural Science (PhD)
• Doctor of Philosophy in Business Administration in Organizational Behaviour (PhD)
• Doctor of Philosophy in Business Administration in Strategy and Business Economics (PhD)
• Doctor of Philosophy in Business Administration in Transportation and Logistics (PhD)
• Doctor of Philosophy in Business Administration in Urban Land Economics (PhD)
• Master of Business Administration (MBA)
• Master of Business Analytics (MBAN)
• Master of Management (MM)
• Master of Science in Business Administration in Management Information Systems (MSCB)
• Master of Science in Business Administration in Transportation and Logistics (MSCB)
• Professional Master of Business Administration (PMBA)

Further Information

Specialization.

Finance at UBC covers research interests ranging from game-theoretic models of corporate finance, to applications of Bayesian analysis in empirical finance, to theoretical modeling of equilibrium asset pricing.

UBC Calendar

Program website, faculty overview, academic unit, program identifier, classification, social media channels, supervisor search.

Departments/Programs may update graduate degree program details through the Faculty & Staff portal. To update contact details for application inquiries, please use this form .

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20 Best universities for Finance in Ontario

Updated: February 29, 2024

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Below is a list of best universities in Ontario ranked based on their research performance in Finance. A graph of 1.4M citations received by 60.7K academic papers made by 20 universities in Ontario was used to calculate publications' ratings, which then were adjusted for release dates and added to final scores.

We don't distinguish between undergraduate and graduate programs nor do we adjust for current majors offered. You can find information about granted degrees on a university page but always double-check with the university website.

1. University of Toronto

For Finance

2. University of Waterloo

3. York University

4. McMaster University

5. Western University

6. University of Ottawa

7. Queen's University

8. Carleton University

9. Wilfrid Laurier University

10. University of Guelph

11. Ryerson University

12. University of Windsor

13. Brock University

14. Trent University

15. Lakehead University

16. Ontario Tech University

17. Laurentian University

18. Royal Military College of Canada

19. Nipissing University

20. OCAD University

Closest to Ontario states to learn Finance

Economics subfields in Ontario

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School of accounting & finance phd scholarship.

The scholarship is to be awarded to excellent students who have been admitted to the PhD program in accounting at the University of Waterloo. Up to 12 scholarships will be granted per year (this may vary). The amount of the scholarship will be used to reduce tuition for the year until that amount has been reduced to zero. The excess will be paid during that term. Each scholarship is for a maximum of four years, subject to the student remaining in satisfactory academic standing. Recipients will be selected by the Director or Co-Director of the PhD program in the School of Accounting and Finance.

Subject to the discretion of the Director or CoDirector of the PhD program, the amount of the scholarship may be adjusted on a year-to-year basis between the amount promised on admission and the ceiling of $10,000.

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Learn more about our competitive five-year funding package.

Our Funding Commitment

All students will be provided with a five-year funding package totalling $164,000 with a minimum of $33,000 per year for the first four years in the PhD Program. Funding is conditional upon meeting the progression requirements and may come from a variety of sources, including internal and external scholarships, funding from research grants, and, in years two through five, Graduate Teaching Assistantships (GTA),  Graduate Student Assistantships (GSA) or teaching.

We also offer our students $8,000 over the course of their PhD career to present their research or serve as discussants at eligible conferences, and an additional $3,000 to help defray expenses related to their thesis research.

There are various other funds linked to our Centres and Institutes that may also be available, and many students successfully apply for other scholarships such as Ontario Graduate Scholarships  and  SSHRC Fellowships . In addition, individual donors, businesses, and organizations have generously committed to further investing in our students through a variety of scholarships:

• Brock Scholarships
• C.B. (Bud) Johnston Ontario Graduate Scholarships
• Chisholm Doctoral Scholarship
• Dr. Alivin J. Silk Doctoral Scholarship
• G. Mark Curry Doctoral Scholarship
• George E. Connell Graduate Scholarship
• John F. Rankin Doctoral Scholarship
• Professor Al Mikalachki PhD Research Fund
• S. Chum Torno PhD Scholarship
• The Berdie & Irvin Cohen Fund for Doctoral Business Scholarship

A variety of other scholarships and loan options exist, such as:

• Western University (Canada)
• American Association of University Women
• Universities Canada
• Canada Student Loan Program
• Canadian Bureau for International Education (CBIE)
• Department of Foreign Affairs (Canada)
• Department of Education (USA)
• Financial Aid (USA)
• International Council for Canadian Studies
• Ontario Student Assistance Program (OSAP)

Tuition and Fees

All PhD students must register and pay tuition and fees three times during the academic year (September, January and May). Tuition is set by Western University and is subject to change each year.

Average Cost of Living

Below is a summary on the costs associated with living in London and in other Canadian cities.

Affordability Calculator

The Graduate Student Affordability Calculator is a tool intended to provide an accurate estimate of how much money is needed to pay for tuition, fees, housing, food, and many other necessities for a 12-month (three term) academic year.

Funding Partners

Ivey has also partnered with the BMO Bank of Montreal and TD Canada Trust to create loan packages for Ivey PhD students. Each institution has designated one London branch to handle all Ivey PhD loans. Not all students are eligible, so more information should be obtained as below:

Other Resources for International Student Financing

There are many additional sources that international candidates should explore for external financing options. Helpful resources include:

• Government of Canada – International Student Scholarships
• Indian Association for Canadian Studies
• scholars4dev - Scholarships 4 Students From Developing Countries
• Canadian Embassies  sometimes administer scholarships to international students (i.e. Commonwealth Scholarships) that resulted out of an agreement between Canada and another country
• US students may apply to programs through the Federal Student Aid.

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Graduate assistantships are funding packages awarded to degree-seeking students that involve teaching, research, or administrative activities. They are designed to support and enhance a graduate student’s overall educational experience, and are an opportunity for professional development, and provide financial support. Each graduate program or academic college is responsible for awarding assistantships to graduate students, and more than 4,500 graduate assistantships are awarded annually.

Students interested in internship opportunities should contact their graduate program for information, and can also note their interest on their Graduate School application.

Assistantship funding support

An assistantship includes:

tuition remission

insurance premium subsidies

payment of Student-Initiated Fee

Stipend amounts

A stipend is commensurate with both the type (quarter, half, or three-quarters) and grade level of an assistantship, and these are determined by the department providing the assistantship. The type refers to the volume of activities associated with an assistantship.

Stipend amounts for each grade are set annually by the University, and the minimum recommended grade level for all assistantships is grade 12. Stipend amounts increased by 3.5 percent for the 2023-24 academic year, and will increase by 3.5 percent in the 2024-25 academic year, as approved by the Penn State Board of Trustees .

To view stipend amounts, visit the Table of Graduate Assistant Stipends .

Length of assistantships and summer funding

Graduate assistantships last 18 weeks per semester, or 36 weeks for a fall and spring appointment. Students who had assistantships, fellowships, or traineeships in both the fall and spring are eligible to apply for summer tuition assistance (STAP)  of up to 9 credits of required coursework during the subsequent summer. Many graduate students find additional funding for the summer through wage payroll, scholarship funds, summer graduate assistantships, or other means.

Required credit load

The table below lists the minimum and maximum credit load for each of the three types of assistantships: quarter-time, half-time, and three-quarters time. Post-comprehensive doctoral candidates should be enrolled in a 601 level course in place of the typical course load.

Health insurance subsidies

Penn State subsidizes health insurance (medical, dental and vision) for graduate assistants and full-time fellows and trainees. Health insurance is required for international students. The  Penn State Student Health Insurance Plan provides robust coverage tailored to meet student needs for the entire academic year, including summer.

For more information, visit the Student Affairs website for dental and vision insurance or health insurance premiums .

The SHIP provides robust coverage tailored to meet student needs through input by graduate student representatives to the Student Insurance Advisory Board (SIAB) and the Student Insurance Administrative Council (SIAC). SHIP provides coverage for the entire academic year, including summer.

Total Estimated Value of 2023–24 GA Economic Benefits

For gas receiving individual insurance coverage.

For GAs Receiving Family Insurance Coverage

The table includes the average stipend amount across the University for the Fall/Spring 2023-24 academic year.

Graduate students on fall/spring assistantship appointments often receive some form of additional support in the summer, so that total annual support is often greater than reflected for the fall/spring assistantship.

Actual support value will vary with assistantship type, stipend amount, number of summer credits taken and residency status, and choice of SHIP, Dental and Vision coverage (e.g., Individual, Individual & Dependent, Family, etc.).

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Ontario PNP latest draw invites 1,666 Foreign Graduates

The Ontario Immigrant Nominee Program (OINP) has conducted a new draw for candidates with a profile in the OINP’s Expression of Interest (EOI) system. This was the first invitation round conducted by Ontario in July.

If the OINP identifies you from the candidate pool, you will receive an invitation to apply in your OINP e‑Filing Portal account. If you’ve been invited in this Ontario PNP latest draw , you will have 14 days to submit a complete application for permanent residency to the OINP.

Ontario PNP Latest Draw - Results

The Ontario PNP latest draw held on July 9, 2024, saw invitations being issued to 1,666 candidates under the Masters Graduate Stream and PhD Graduate Stream. Invited candidates required a minimum score of 50 and above to be eligible for an invitation.

• Masters Graduate Stream

• PhD Graduate Stream

If you did not receive an invitation in this round - do not withdraw your application or create a new one. Your profile is valid for 12 months in the OINP pool of candidates. You may be invited in the next Ontario PNP draw. Ontario PNP draws are held on a bi-weekly basis - with some exceptions.

The date of the draw, stream targeted, number of invitations to be issued, and the minimum score range are not published beforehand.

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Ontario Immigrant Nominee Program

The Ontario Immigrant Nominee Program (OINP) is the province’s economic immigration program. It works in partnership with the Government of Canada through the Immigration, Refugees and Citizenship Canada (IRCC).

Foreign workers, international students, and other eligible candidates with the right skills and experience can apply to the Ontario PNP for a nomination. The Ontario PNP identifies and nominates candidates for permanent residency - who have the skills and experience the province’s economy needs. The government of Canada makes the final decision to approve applications for permanent residence.

The Ontario PNP currently manages the following streams:

OINP Streams

• Employer Job Offer: Foreign Worker Stream
• Employer Job Offer: International Student Stream
• Employer Job Offer: In-Demand Skills Stream
• Entrepreneur Stream

OINP Express Entry Streams

• Human Capital Priorities Stream
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• Skilled Trades Stream

Candidates are ranked in the pool based on factors mentioned in the Ontario PNP points calculator . Factors such as Age, Language Proficiency, Education, Work Experience, and Job Offer, play a pivotal role in determining your eligibility for getting nominated in an invitation round. The higher your score, the more are your chances.

Currently, 80% of the applications are being processed within 8-10 months.

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Jun 27, 2024

California to add financial literacy as a requirement to graduate high school

What you need to know: California is ensuring that all high school students are taught personal financial literacy before graduating after an agreement between state leadership and NGPF Mission 2030, an affiliate of Next Gen Personal Finance was reached.

SACRAMENTO – Governor Gavin Newsom, Senate President pro Tempore Mike McGuire (D-North Coast), Assembly Speaker Robert Rivas (D-Salinas), and a national financial literacy non-profit — NGPF Mission 2030, an affiliate of Next Gen Personal Finance — today announced an agreement to make financial literacy required content to graduate high school.

“We need to help Californians prepare for their financial futures as early as possible. Saving for the future, making investments, and spending wisely are lifelong skills that young adults need to learn before they start their careers, not after.” Governor Gavin Newsom

Senate President pro Tempore Mike McGuire (D-North Coast) : “Financial literacy is a critical tool that pays dividends for a lifetime. There’s a wealth of data about the benefits of learning these valuable lessons in high school, from improving credit scores and reducing default rates to increasing the likelihood that our future generations will maintain three months of savings for emergencies and have at least one kind of retirement account.”

Assembly Speaker Robert Rivas (D-Salinas) : “Ensuring our students have the skills and knowledge to thrive is paramount to California’s continued success, and financial literacy is a key part of that educational mission. Our agreement is the culmination of many robust and productive conversations with stakeholders across the state on how best to implement financial literacy into every student’s high school curriculum.”

Tim Ranzetta, co-founder of NGPF and lead proponent of the Californians for Financial Education initiative campaign:  “We commend Governor Newsom, Senate President pro Tem McGuire, Speaker Rivas, and the bill’s authors and supporters for their leadership and commitment to guaranteeing access to one semester personal finance education for every California student. We look forward to supporting the implementation of this essential course.”

This agreement is reflected in AB 2927, sponsored by NGPF Mission 2030, which the Governor will sign. The legislation will require a semester-long personal finance education course available for all California high school students by the 2027-28 school year and make personal finance a graduation requirement starting with the 2030-31 graduating class. 

Once the Legislature passes this legislation, proponents of the California Personal Finance Education Act initiative eligible for the November 2024 ballot have agreed to withdraw their measure.

College savings accounts

The financial literacy bill aligns with state efforts to prepare students early on for a healthier financial future. California’s  CalKIDS program  invests $1.9 billion into accounts for low-income school-age children in grades 1-12 and for newborn children born on or after July 1, 2022 – indicating the need for early financial literacy. All families of low-income public school students – 3.4 million across the state – are able to access college savings accounts created in their children’s names.

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Ontario plan to expand alcohol sales is irreversible, Finance Minister says, as LCBO strike continues

Employees picket outside of the LCBO headquarters in downtown Toronto on July 5. Laura Proctor/The Globe and Mail

Ontario Finance Minister Peter Bethlenfalvy says his government will not back down on its plan to expand the sale of alcohol into convenience stores, which the union representing workers at the provincially owned Liquor Control Board of Ontario has identified as a key issue in a strike that has shut down the Crown corporation’s retail stores.

The decision to expand alcohol sales – particularly ready-to-drink, spirit-based beverages such as coolers – is at the heart of the dispute between the government and the union representing 9,000 workers. No negotiations are planned to end a strike that began last Friday.

The LCBO said it plans to close stores for two weeks until July 19, with online ordering being offered and then 32 locations are to open with limited hours.

LCBO strike could herald long and nasty battle over who sells booze in Ontario

The Ontario Public Service Employees Union is urging the government to drop its plan to expand ready-to-drink beverages into the private market, saying the growing popularity of such drinks threatens their livelihood as a retail operation and puts $2.5-billion in revenue at risk. The government’s plan, announced in May, to speed up the sale of beer in corner stores by 16 months is expected to cost more than its announced $225-million price tag – but the final tally is yet unknown.

In an interview Monday, Mr. Bethlenfalvy called the decision to expand alcohol sale in the province “irreversible.”

“That’s what we ran on,” he said. “We’re going to get that done and execute on that.”

The Finance Minister said the LCBO needs to modernize and urged union members to return to the table to discuss issues such as job security, wages and severance. He said neither side has spoken since talks broke down last Thursday.

Mr. Bethlenfalvy said the plan to expand to convenience stores will benefit small businesses, with about 3,000 convenience stores having a licence to sell alcohol this fall. He added the LCBO as a retail operation is in a “very good position to compete.”

“They have the broadest product menu,” he said. “The LCBO will be very well-positioned to offer more choice and convenience for people who want to buy Ontario-made products.”

He dismissed the union’s concerns that the government is creeping toward total privatization as “nonsense” and said there is a place in the market for the LCBO as a publicly owned retailer.

He added that the Ontario government won’t be forcing employees back to work.

Premier Doug Ford released a video on Monday promoting a new online tool that allows users to find outlets that sell beer, wine and cider while the LCBO stores are closed, prompting criticism from the union and opposition politicians who said the government should be focused on priorities such as health care, not alcohol. The government says it is part of its long-time pledge to liberalize alcohol sales in the province and give consumers more choice.

Make this summer an Ontario-made summer! Our new interactive map shows thousands of convenient options where you can still buy beer, wine, spirits and other drinks across the province. Check out a local brewery or winery for some fantastic Ontario-made products near you and… pic.twitter.com/baAutZWYst — Doug Ford (@fordnation) July 8, 2024

The corporation had planned to open five locations for businesses to shop in-store on July 10, but changed course Monday after the union threatened to picket them; instead, the LCBO plans to offer online shopping for smaller wholesale orders.

Colleen MacLeod, chair of OPSEU’s Liquor Board Employees Division, said her union believe the government plans to turn the LCBO into a wholesaler. She said the government’s model isn’t to benefit small stores or breweries and distilleries, but will hand the market over to big-box grocers and chief executive officers.

“The intention here is to reduce the footprint of the retail aspect of the LCBO,” she said in an interview Monday. “It’s about moving the public revenue to private CEOs, big corporations, and having them do this work, where they hold the profits.”

Ms. MacLeod said the issue isn’t just about LCBO jobs, but: “What kind of Ontario do you want going forward?”

She said the government campaigned on beer, wine and cider in corner stores but not the ready-to-drink, spirit-based beverages, which she said will become more available to younger people.

“I don’t believe that Ontario is wanting this at any cost, and the cost being to devalue the asset that we all own,” she said.

Spirit-based, ready-to-drink beverages make up about 9 per cent of the LCBO sales. But it is one of the largest growing markets, Ms. MacLeod said, and the union fears losing such sales will lead to the loss of casual jobs. The union says casual positions make up about 70 per cent of the work force.

Ms. MacLeod said the government’s pledge to continue with the expansion plan is unhelpful to negotiations.

“It’s not helpful that the Ford government is digging in,” she said. “There should be discussions happening. It’s not helpful.”

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Leftovers from Beryl to soak southern Ontario and Quebec with heavy rain

After Beryl made its third and final landfall as a Category 1 hurricane early Monday morning near Matagorda, Texas, the remnant moisture associated with the once powerful storm will make its way north of the border this week.

Beryl began to quickly weaken as it moved inland on Monday while still bringing significant rainfall and flooding to Texas , resulting in at least two deaths.

On Tuesday, only a low-pressure system will remain of the historic storm. By the time the low reaches the Mississippi Valley, an upper-level trough in the atmosphere over the central states will capture and fling the moisture towards southern Ontario and Quebec.

Check out The Weather Network’s hurricane hub for all the latest on storms near Canada and around the world

Southern Ontario and Quebec feels Beryl's remnants on Wednesday and Thursday

The earliest we can expect this moisture-packed low to reach the provinces is on Tuesday overnight, then ramping up Wednesday morning. Eastern Ontario and Quebec can expect to see rainfall by early Wednesday afternoon. It will file in from the south, through the Ohio Valley, over Lake Erie, and move northward in waves through Thursday.

RELATED: Tropical Storm Beryl kills two, knocks out power as it churns across Texas

While driven by an upper-level trough, at the surface, the system will send a warm front through southern Ontario and Quebec. Around this front is where we expect to see the heaviest rain fall, as well as the risk of thunderstorms.

At this time, it's too soon to give precise rainfall totals for the provinces, but localized forecasts are expected to exceed 50 mm through Thursday. There is also a degree of uncertainty as to where the most rainfall will be.

Currently, computer models are suggesting the 401 corridor may be the subject to the highest totals, but this could change leading up to the event.

DON'T MISS: Canadian Red Cross launches appeal to help people impacted by Hurricane Beryl

It can be easy to think that southern Ontario and Quebec is going to be struck by a hurricane-force storm when we say that the remnants of Beryl will reach the provinces. We can assure you, though, that is not the case. Hurricanes need warm oceanic water to sustain themselves and will deteriorate rapidly when starved of that fuel.

By the time this system reaches southern Ontario and Quebec, it won't even be a tropical depression by then.

What we will see is a tropical moisture-laden low-pressure system. The main risks presently with this system in Ontario and Quebec will be heavy downpours, the risk of thunderstorms, and localized flooding.

The localized flooding from heavy downpours could also cause a significant amount of storm water runoff to make its way into Lake Ontario, raising the lake's pollution levels.

Not the first time

This isn't the first time Ontario and Quebec has felt the lingering impacts of a tropical system.

The hurricane database has 50 cases of remnant storms or tropical depressions moving across southern Ontario since 1876, with only seven of them landfalling in Texas.

Yes, the best track proxy for this setup is Hurricane Ike back in September 2008, a Texas landfalling storm. Of course, Sandy is a prime example of how strong a storm can become once its fully extratropical, occurring in October of 2012.

As well, Hurricane Fran's impacts were felt in southern Ontario in September of 1996 when the then-tropical depression dumped 66.4 mm of rain at Toronto Pearson International Airport.

SEE ALSO: Beware! These dangerous plants are found in Canada

More recently, remnants of Hurricane Isabel dumped more than 30 mm at Pearson airport in September of 2003.

Alberto in May 2018 was also an incredible rarity as the National Hurricane Center kept the storm a tropical depression as it crossed Manitoulin Island on May 31, 2018.

In 2020, Tropical Storm Cristobal made an incredibly rare feat, with tropical remnants crossing Lake Superior on June 10, 2020. The system held onto tropical characteristics into southern Wisconsin.

Stay with The Weather Network for more forecast information and updates on your weather across Ontario and Quebec.

WATCH: Destructive scenes as Hurricane Beryl sets record in the Atlantic

Click here to view the video

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Laurina Zhang And Garett Johnson Awarded Tenure And Promotion

May 13, 2024

Laurina Zhang  and  Garett Johnson  were awarded tenure and promotion to Associate Professor at Boston University Questrom School of Business.

Professor Zhang  is a member of the Strategy & Innovation department. She received her Ph.D. in Strategic Management from the Rotman School of Management, University of Toronto, in 2014. After short stops at the Ivey School of Business, University of Western Ontario, and the Scheller College of Business at the Georgia Institute of Technology, she joined Questrom in 2020.  

Laurina is an internationally recognized scholar in the field of strategy, innovation and entrepreneurship as understood thru an organizational dynamics’ lens. Her research delves into how technology and information impact innovative, entrepreneurial, and creative outcomes, particularly through democratization of access and participation for disadvantaged subgroups.

Laurina is an exceptionally strong teacher in the MBA program. She is a highly capable curriculum designer. During her academic career she won several teaching awards.  

Professor Johnson  is a member of the Marketing Department. He received his Ph.D. in Economics from Northwestern University in 2013. He started his assistant professor career at the Simon School of Business, University of Rochester and joined Questrom in 2018 after visiting the Kellogg School of Management, Northwestern University for two years.

Garrett is an internationally recognized marketing scholar whose research focuses on online advertising effectiveness, privacy, and digital marketing analytics. He has made significant contributions that advance understanding of the dynamics of digital advertising, including how companies can effectively measure and maximize the impact of their advertising spending in an online environment. He is also a recognized expert on the interaction between digital advertising and user privacy.

Garret has designed and taught a Digital Marketing class, versions of which are now offered in the Questrom Undergraduate, MBA, and MSBA programs.

Congratulations Laurina and Garrett!

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