Doctoral

Ph.D. in Finance

The Wayne State Ph.D. with a concentration in Finance focuses on corporate finance and asset pricing, with a strong emphasis on empirical research. Students typically enter with an average GMAT score of 691. The program prepares graduates for tenure-track faculty positions at top research universities, boasting a 100% placement rate. Graduates often publish in leading journals like The Accounting Review and Financial Management within their first year.

Learn more about the Ph.D. curriculum.

Our Ph.D. program is a member of DocNet-Consortium of Business Doctoral Programs and the Ph.D. Project.

Doctoral admissions Ph.D. Program Handbook

Explore the concentration

The Wayne State finance Ph.D. program fosters academic careers and equips students with the skills needed to excel in academia and beyond.
- Shriya Shekhar, 2023, Gonzaga University, Assistant professor of finance, Dissertation title: Essays on bank certification of initial public offerings, Dissertation committee: Dr. Sudip Datta (chair), Dr. Mai-Iskandar Datta, Dr. Francesca Toscano, and Dr. Young-Ro Yoon
- Min-Jeong Kwon, 2023, Mars Hill University, Assistant professor, Dissertation title: Essays on the Effect of Corporate Social Responsibility (CSR) on Financial Decisions, Dissertation committee: Dr. Anand Jha (co-chair), Dr. Manoj Kulchania (co-chair), Dr. Mbodja Mougoue, Dr. Francesca Toscano, and Dr. Ashrafee Hossain
- Trang Doan, 2018, Eastern Illinois University, Assistant professor of finance, Dissertation title: Gender in the C-Suite: Evidence from the CFO hiring decision, Dissertation committee: Dr. Mai-Iskandar Datta (chair), Dr. Sudip Datta, Dr. Manoj Kulchania, and Dr. Li Way Lee
- Norkeith Smith, 2015, California State University - Chico, Assistant professor, Dissertation title: Essays on Horizontal Divestiture and Product Market Relationships, Dissertation committee: Dr. Ranjan D'Mello, Dr. Margaret Smoller, Dr. Atif Ikram and Dr. Li Way Lee
- Matt Ross, 2014, Western Michigan University, Assistant professor, Dissertation title: Elections and Asset Pricing: The Politically Sensitive Equity of US Military Contractors, Dissertation committee: Dr. Mbodja Mougoué (chair)
- Chenguang Shang, 2014, Bentley University, Assistant professor, Dissertation title: Deal Innovations in Mergers and Acquisitions: Do Go-Shop Provisions Create Real Benefits? Dissertation committee: Dr. Sudip Datta (chair), Dr. Mai Iskandar-Datta, Dr. Scott Julian and Dr. Robert Rossana
- Xinghua Gao, 2012, Governor State University, Assistant professor, Dissertation title: Economic Deregulation and Corporate Dividend Policy Dissertation committee: Dr. Ranjan D'Mello (chair), Dr. Mbodja Mougoue, Dr. Margaret Smoller and Dr. Li Way Lee
- Yonghong Jia, 2012, Iowa State University, Assistant professor, Dissertation title: Essays on International Cash Holdings, Dissertation committee: Dr. Mai Iskandar-Datta (chair), Dr. Sudip Datta, Dr. Mbodja Mougoué and Dr. Kevin Cotter
- Mark Gruskin, 2011, Penn State Lehigh Valley, Assistant professor, Dissertation title: Essays on Reverse Leveraged Buyouts, Dissertation committee: Dr. Sudip Datta (chair), Dr. Ranjan D'Mello, Dr. Mai Iskandar-Datta, Dr. Robert Rossana
All coursework must be completed in accordance with the regulations of the Graduate School and the Mike Ilitch School of Business.

Students enroll on a full-time basis and must complete the program within seven years of admission.

Student services and opportunities

See how the Ilitch School supports you as an finance major.

The finance faculty are very well established, and their research was in line with my area of interest...Plus, the university offered a diverse environment in which to study.

Chenguang Shang

Ph.D. ‘14

Meet the faculty

Our Ilitch School of Business professors are ready to take you to the next level. As accomplished researchers and seasoned business leaders, they know how to enrich your learning and sharpen your skills. See how their expertise can help shape your future.

See all finance faculty

Tom Shohfi

Associate Professor of Finance

View Tom Shohfi's profile

tshohfi@wayne.edu

Manoj Kulchania

Associate Professor

Teaching

Investments, Corporate Finance, Introduction to Finance

Research

Corporate Finance, Payout Policy, Share Repurchases, Cash holdings, Market Microstructure

View Manoj Kulchania's profile

manoj.kulchania@wayne.edu

Ranjan D'Mello

Professor of Finance

Corporate Finance

View Ranjan D'Mello's profile

rdmello@wayne.edu

Career insights

This tool provides a broad overview of how major selection can lead to careers and is provided without any implied promise of employment. Some careers will require further education, skills, or competencies. Actual salaries may vary significantly between similar employers and could change by graduation, as could employment opportunities and job titles.