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PhD in Financial Management

- Year-by-Year Breakdown - Course Description

The PhD Program at Horizons University prepares students for leadership positions in global organizations, careers as independent consultants, entrepreneurs, business researchers, University Professors and also project managers and business owners.

This program focuses on modern trends in business finance across the globe. Today's leader is adaptable, an agent of change, and demonstrates innovative thinking in a fast-changing environment. The global leader is culturally aware. A PhD will grant the ability to analyze data, anticipate events and influence teams to buy-in decisions.

PhD at Horizons University is a research doctorate, in which the students make theoretical contributions. The Horizons University Phd is designed to help students reach their objectives of becoming academic and scientific experts  in a given field, and students take courses alongside their independent research in the area they want to specialize in.

Duration 3 years
Credit Value 180 Credits 
Admission Requirements Master’s degree or Equivalent
Study Options Online or On Campus
Tuition 3450€ yearly
Registration Fee 60€ yearly
Technology Fee 80€ yearly


Year-by-Year Breakdown


Year 1
PHD771 (10 ECTS)  Financing Innovation
PHD650 (10 ECTS) Quantitative and Qualitative Methods
PHD774 (10 ECTS) Business and Finance Research Methods
PHD792 (10 ECTS) Dissertation Proposal
Year 2
PHD772 (10 ECTS) Financial Economics
PHD660 (10 ECTS) Global Economy
PHD782 (20 ECTS) Journal Writing
PHD802 (40 ECTS) Dissertation Writing
Year 3
PHD773 (10 ECTS) Corporate Finance and Financial Institutions
PHD610 (10 ECTS) International Business Strategy
PHD810 (40 ECTS) Dissertation Writing up and Defense


PHD771 - Financing  Innovation

This course covers the resources, instruments, and procedures associated with procuring investment capital for entrepreneurial projects.  International issues related to equipment sales, taxation, currency exchange, international financing, and various other cross-country laws are addressed

PHD650 - Quantitative and Qualitative Methods

This is an advanced study of the investigation procedures used in business research.  Considerations for using techniques such as Action Research, Focus Groups, Interviews, Experimental Designs, Factor Analysis, and are other methods are covered.

PHD792 - Dissertation Proposal. 

This course focuses on the development of the dissertation proposal under the supervision of a doctoral faculty member.  Students will be guided through the completion of a proposal which will be eligible for submission to the university.

PHD610 - International Business Strategy.

This course is grounded on the fundamental principles of strategic management and focuses on strategy-making decisions in international business corporations.  Emphasis is given to corporate-level analysis, strategy formation and implementation, and the goal of crafting a sustainable competitive advantage in a global market.

PHD772 - Financial Economics

This course studies of the theoretical foundations of modern financial economics. The course will cover the central themes of modern finance including individual investment decisions under uncertainty, stochastic dominance, mean variance theory, capital market equilibrium and asset valuation, arbitrage pricing theory, option pricing, and incomplete markets, and the potential application of these themes.

DBA660 - Global Economy  

This course examines the world’s economy from a global as well as various local perspectives. Globalization has increased the interdependence of the economies of nations around the world, but this interdependence does not imply all differences in economies have vanished. The Global economy is made up of many different actors, some international such as the World Bank, IMF, WTO and large multinational firms, others national such as national governments and some local. The course is designed to exam both the overall global economy and some of its individual components.

PHD782 - Journal Writing. 

This course facilitates the student’s ability to write, review, edit, and format an original paper to meet the publication standards of an academic journal.  When completed, the course results in a published article in Horizons University Business Journal.

PHD773 - Corporate Finance and Financial Institutions

This course provides an overview of the basic contributions in the modern theory of corporate finance and financial institutions. The topics include capital structure, distribution policy, financial intermediation, incomplete financial contracting, initial and seasoned public offerings, market for corporate control, product market corporate finance interactions, corporate reorganization and bankruptcy, financing in imperfect markets, security design under adverse selection and moral hazard.

PHD802 - Dissertation Writing

Credit is given in this course for satisfactory work completed towards the doctor dissertation, following the acceptance of a proposal through the preparations for the defense.

PHD810 - Dissertation Writing up and Defense

In this course the student is asked to present, illustrate and discuss with his facilitator the Dissertation prepared in PHD800. Credit is given in this course for satisfactory defense of the work done.

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