Accounting and Finance PhD

Our Accounting and Finance PhD aims to develop world-class researchers, specialised in building theory and producing valuable insight into current issues in accounting and finance.

Why study with us?

  • 91%

    of our School's research classified as 'world leading' (4*) or 'internationally excellent' (3*) in the latest Research Excellence Framework (2021)

  • 160

    international experts shape world-class academic thought

  • 100%

    of our research environment classified 'world leading' (4*) or 'internationally excellent' (3*) in the latest Research Excellence Framework (2021)


The University of Liverpool Management School’s (ULMS) Accounting and Finance PhD programme covers a wide range of areas for investigation, with special emphasis on the role accounting and finance play on organisational success, risk management and dealing with uncertainties.

The training offered is tailored, with specific modules aimed at facilitating the development of your individual research project:

  • Corporate Finance and Accounting
  • Theory Asset Pricing Theory
  • Empirical Corporate Finance
  • Accounting Empirical Asset Pricing.

To ensure you receive the most relevant support during the thesis development stage, you will work with a primary supervisor, who is a leading expert in their field.

Additionally, you will be supported by a secondary supervisor, who is typically promising early career researcher, specialising in your specific area of study.

Research themes

The University of Liverpool Management School  is a UK triple accredited (AACSB, AMBA, and EQUIS) leading and internationally recognised research institution, with outstanding REF 2021 results against 108 ranked Business and Management Schools across the country:

  • 12th for submissions judged as World Leading (4*) or Internationally Excellent (3*)
  • 16th for research outputs classified as World Leading (4*)
  • 9th place for Research Power (17 places higher than in 2014)
  • 100% of research supported by a World Leading (4*) or Internationally Excellent (3*) environment.

The School’s Accounting and Finance group is one of largest in the UK, with members regularly publishing in a range of top scholarly journals, including the Review of Financial Studies, Journal of Financial Economics, Journal of Accounting and Economics, Management Science, etc.

The School also has five research centres and one cluster, specialised in contemporary issues in business and society, and aimed at bringing together expertise across the School and University.

As a PhD student you are welcome to join any of these centres, as they present excellent opportunities to access internal and external research networks around cutting-edge themes.

Research interests

We welcome research proposals including, but not limited to:

  • Asset pricing and investment
  • Corporate finance and accounting
  • International financial markets and the macroeconomy
  • Financial technology (Fintech).

Please, make sure your application adheres to the following structure (maximum 3,000 words):

  • Title of the proposal
  • Introduction and expected contribution and its significance
  • Literature review
  • Proposed research questions
  • Proposed methodology (fit with research/experience/need for training)
  • Gantt chart
  • References.


As a PhD student at the Management School you will enjoy access to a ‘Hot Desk’ working environment.

In addition to printing/photocopying/scanning facilities, the Management School has two dedicated computer suites located on the ground floor:

  • The McKenzie Trading Room offers 40 PCs with Bloomberg access. Each PC has a dual monitor and a Bloomberg keyboard
  • The Grove Wing Computer Room has 28 PCs running on the standard University of Liverpool Network, with DataStream available on several computers.

You will gain access to globally recognised databases for business research, including:

Research groups

Research by subject groups

We have six groups which form homes for both research and teaching, providing the management and infrastructure to ensure vitality and sustainability of our research environment.

  • Accounting and Finance
  • Economics
  • Marketing
  • Operations and Supply Chain Management
  • Strategy, International Business and Entrepreneurship
  • Work, Organisation and Management

Research centres and clusters

Research centres develop the School's contribution to established themes with a strong focus on applying ideas through funding and impact-related work.

Research clusters are grass-roots driven and interdisciplinary, focussing on the development of new theoretical and empirical work, typically at the early stages of the knowledge production/impact cycle.

  • The Brett Centre for Entrepreneurship
  • Centre for Supply Chain Research
  • Centre for Sports Business
  • Centre for Sustainable Business
  • Centre for Organisational and Employee Wellbeing
  • Liverpool Advanced Methods for Big Data Analytics (LAMBDA) Research Cluster

Study options and fees

PhD Duration UK students International Students
Full time 2-4 years £4,712
  • Faculty of Health and Life Sciences £27,800 (Band A)^
  • Faculty of Science and Engineering* £27,800 (Band A)^ or £21,850 (Band B)
  • Faculty of Humanities and Social Sciences £21,850 (Band B)
Part time 4-6 years £2,356
  • Faculty of Health and Life Sciences £13,900 (Band A)^
  • Faculty of Science and Engineering* £13,900 (Band A)^ or £10,925 (Band B)
  • Faculty of Humanities and Social Sciences £10,925 (Band B)

The fees stated in the table above exclude potential research support fees also known as ‘bench fees’. You will be notified of any fee which may apply in your offer letter.

* Please note that if you are undertaking a PhD within the Faculty of Science and Engineering the fee you pay, Band A or Band B, will reflect the nature of your research project. Some research projects incur a higher fee than others e.g. if you are required to undertake laboratory work. You will be informed of the fee for your programme in your offer letter.

^ Self-funded, full-time international students studying a PhD programme classified as Band A will receive a £2,000 reduction in their fees for the first year only.

Entry requirements

Applications are welcomed and will be considered in our highly competitive programme from well qualified graduates who would typically hold a UK first degree or equivalent in the first or 2:1 class, in a relevant subject.

English language requirements

IELTS Academic requirement - SELT and non-SELT Overall 7.0 no band below 6.5
TOEFL iBT requirement Minimum 100 overall with L 21 R 21 W 21 and S 23
C1 Advanced CAE requirement Overall 185 with no less than 176 in any paper
PTE Academic requirement69 with minimum scores of 61 in each component
Trinity College London, Integrated Skills in English (ISE II)ISE II with an overall pass with merit in components
Cambridge IGCSE as a First LanguageGrade C
Cambridge IGCSE as a Second LanguageGrade B
Cambridge English Level 3 Certificate in ESOL International (Proficiency)Overall 185 with 176 in components
Cambridge English Level 3 Certificate in ESOL International (Advanced)Overall 185 with 176 in components
Cambridge English Level 2 Certificate in ESOL International (Advanced)Overall 185 with 176 in components

How to apply

Research degree applications can be made online.  You'll also need to ensure that you have funding to cover all fees.

Applications are open all year round.

More about applying for research degrees

Apply online

Before you apply, we recommend that you identify a supervisor and develop a research proposal

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