The primary objective of the PhD program in finance at the W. P. Carey School of Business is to train students for careers as finance professors at major research universities. The program provides a challenging course of study in the most recent developments in both the theoretical and empirical aspects of financial economics. This course of study, along with work in economics and statistics, serves as preparation for understanding and critical analysis of current issues in finance. PhD students work with a distinguished faculty that comprises one of the most productive research groups in the world. Recent surveys of research productivity rank the Department of Finance among the best in the world for research output in the top journals. Our faculty produces cutting-edge empirical research in the areas of equity markets, corporate finance, organization structure, international finance, financial institutions and asset pricing. The program is relatively small, so that faculty-student mentoring relationships are promoted and PhD students receive personal attention. The program seeks highly capable students with a strong academic background and preferably with work experience. Admission to the PhD in Business Administration with a concentration in finance is granted to applicants who present convincing evidence of high-order analytical skills, intellectual curiosity and the ability to work independently in pursuing scholarly research. Applicants should possess the intellectual curiosity and discipline required for original inquiry. In addition to the general requirements of the ASU Graduate College, applicants must submit a resume, three letters of recommendation, scores from the Graduate Management Admission Test (GMAT) or the Graduate Record Exam (GRE), and a brief statement of their career objectives. While many of our accepted students have an MBA or M.S. in a business-related field, others have a background in another area, such as engineering, economics, mathematics, statistics, physics, etc.