Download detailed information about the nine-month + four-year programme structure & content.
To start on the Finance pathway you must take the following nine-month masters programme:
The Finance Group at Cambridge Judge Business School covers a broad spectrum of issues in finance. We define finance as more than a set of financial transactions – it is the glue that holds together corporations, capital markets and the real economy.
We pursue research on empirical and theoretical corporate finance, asset pricing, and financial accounting as well as the intersections of finance and economics. In doing so, we treat finance as both an art and a science. On the one hand, we aim for methodological rigour through applying econometric methods and theoretical tools from contract theory and financial economics that enable us to infer causal statements about the way the world works. On the other hand, all our efforts are directed at shedding light on questions that we, and businesses in the real world, deem to be interesting and important at this time.
These questions can move above and beyond our everyday understanding of finance. For instance, economists have acknowledged the important role of financial intermediation for growth and welfare. One important component of this research agenda is analysing the ‘black box’ that is financial institutions. Several faculty members at the School work on topics and publish papers related to the study of commercial banks, investment banks, universal banks, mutual funds, hedge funds and other providers of financial services.
However, our research is not confined to this area. Market failures and inefficiencies don’t just occur between financial institutions and those seeking their services (most notably corporations) – they can also be the result of what is happening inside firms. Another set of research topics analyses how firms actually work – how are compensation contracts written, and why do companies pay bribes to politicians? A third set of research questions analyses investors that invest in firms through a set of financial intermediaries. How do these investors understand risk? Can managers and intermediaries consistently fool them into paying too much for securities or assets? We pay close attention to human decision-making and behavioural anomalies, both of which also apply to the broader context of capital markets and financial accounting.
Our faculty and PhD students attempt to contribute to this exciting debate by conducting cutting-edge research on the multi-faceted linkages between investors, intermediaries and corporations. While our questions are academic in nature, we strive for solutions that can inform the practice of finance, and we incorporate this spirit into our teaching and other classroom interactions.
Not available to take incoming PhD students in October 2021.
Oguzhan Karakas researches corporate governance; ownership and control; corporate social responsibility; private equity; dynamic investment strategies.
Andrei Kirilenko researches the intersection of finance, technology and regulation; fintech; asset pricing, data, and digital technologies; the design of automated financial markets and instruments.
Bart Lambrecht researches various aspects of corporate finance such as real options and investment under uncertainty; mergers and acquisitions; payout policy; managerial agency and the role of asymmetric information; bankruptcy; and the financing of firms; housing and household finance; bank lending and bank capital structure.