PhD of Banking and Finance

ISC is interested in offering postgraduate programmes in scientific and humanities disciplines. The PhD programme in Banking and Finance serves individuals who wish to pursue a career in the field of finance, whether they are academics at universities or as professionals in finance sector institutions and organizations. Given the value of time, students should select [...]

ISC is interested in offering postgraduate programmes in scientific and humanities disciplines.

The PhD programme in Banking and Finance serves individuals who wish to pursue a career in the field of finance, whether they are academics at universities or as professionals in finance sector institutions and organizations. Given the value of time, students should select courses according to the major that seeks maximum benefit in their endeavours of learning and dissertation research. The programme consists of compulsory courses along with selective master and open field courses. The elective courses in the major field are those that are distinguished by the FB course codes, while the elective courses in the open field are those offered by the other major fields in the graduate studies department at Soliman International University. In line, students can also enroll in postgraduate courses in related disciplines such as economics, law, business administration, communications, engineering, and management information systems. After successful completion of the course work, students must pass the qualifying examination for the programme and then undertake a thesis research towards a Ph.D.

The programme’s mission is to qualify elite students who have the necessary capabilities to carry out the burdens of teaching and research in universities, institutes and international research centers and to assume leadership positions in government agencies and the business sector, and to develop their abilities to contribute to the development of financial and banking sciences professionally and academically.

Key features of the course

  • Graduating individuals who are able to contribute constructively to developing financial thought and raising the level of the financial profession, whether in the fields of teaching and research in universities and higher institutes in research centers, or in leadership positions in government agencies and the business sector.
  • Supporting the finance and banking departments in universities with qualified faculty members.
  • Raising the level of scientific research and academic studies in the field of financial and accounting sciences, especially in its applied aspect.
  • ISC’s fulfillment of its responsibility towards society by providing the opportunity to study a doctorate for male and female students and to qualify them scientifically and professionally in the field of finance.

The first stage - Compulsory courses 84 Credits

Advanced Studies in Scientific Research Methodology

This course aims to provide students with advanced skills in scientific research and its methods and methods, and their development in economic and administrative sciences, so that they can benefit from them adequately and appropriately in solving academic and practical problems.

This course starts from helping the researcher to choose the title of the research to defining the research problem and developing hypotheses through measuring variables and research design in addition to sampling and its methods. This course also deals with research designs, whether they are exploratory, descriptive and experimental.

Applied Operations Research Philosophy

This course introduces the basic philosophy and development process of management business research. Research students are also required to prepare a research seminar within the scope of this course.

Financial economics

The objective of this course is to make a careful study of the theoretical foundations of modern financial economics. The course will cover central topics 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, imperfect markets, and the potential application of these topics. Upon completion of this course, students should gain a clear understanding of key theoretical findings relating to individual consumption and portfolio decisions under uncertainty and their implications for stock valuation.

Finance, companies and financial institutions

This course provides students with an overview of the fundamental contributions to the modern theory of corporate finance and financial institutions. The course is methodologically oriented in that students are required to master the technical tools needed for each subject. Topics covered may include capital structure, distribution policy, financial intermediation, incomplete financial contracting, initial and experienced public offerings, corporate control market, product market corporate financing interactions, corporate reorganization and bankruptcy, financing in imperfect markets, and security design Under the reverse selection and moral hazard, some selected topics.

Introduction to financing methods

This course is an introduction to empirical methods commonly used in finance. The course provides background, empirical research in finance. The course is organized around empirical papers with an emphasis on econometric methods. Great reliance will be placed on the analysis of financial statements.

Continuous Economy

This course covers some of the advanced material on financial market theory that has been developed over the past two decades. The focus is on pricing options and dynamic depreciation of assets in a continuous time setting. The articles discussed include many classic papers in the field as well as some of the most recent developments. The lectures will focus on the technical concepts and tools needed to understand the articles.

Financial theories

This course covers general equilibrium and rational expectations, the foundations of information theory. Learning from Prices in Rational Expectations Equilibrium Models, Morale Risk, Adverse Selection, and Bidding Signals Theories.

Optional courses 24 Credits

Experimental method in physical assets

This course has three main objectives: The first objective is to introduce students to the basic business and research limitations of dynamic asset pricing. We will cover recent models that have been proposed to shed light on important experimental and diagnostic patterns in cross-section and in time series. Topics include inseparable utilities, market incompleteness, learning, uncertainty, differences of opinion, pre and post asymmetric information, ambiguity and jockey uncertainty. The second objective is to teach students how to think about asset pricing research in a larger or richer framework. We will focus on the interactions between asset pricing and other areas such as macroeconomics, corporate finance, financial institutions, and international finance. The goal of creating shared dynamics is not only to better understand how asset prices are determined, but also (perhaps most importantly) how asset pricing dynamics affect other important economic fortunes such as investment, corporate payouts and financing, unemployment, risk-sharing, and international capital flows. Students will learn production-based asset pricing models, in particular asset pricing models with investment-specific technology shocks, risk shocks, financial friction, research frictions, and information frictions. Of course, advanced solution methods will also focus. The third objective is to provide advanced experimental methods for data analysis and quantitative dynamic models. It includes how to estimate structural dynamic models, and how to evaluate structural models beyond tests of quality fit.

International Finance

To provide an understanding of selected topics from current academic research in the fields of international finance and their intersection with international macroeconomics; To teach interested students the tools of conducting research in the field. Each topic will be developed starting with early classic papers and then updated by the current state of the profession. The typical target audience is students in their second year or later. Prerequisite: Completion of the first year course requirements.

Advanced Topics in Corporate Finance

This course is an advanced course in quantitative theory applied to macro models and finance. It is intended for PhD students in Finance, Economics, and related fields. The course focuses on four broad theoretical disciplines: (1) Company investment and growth; (ii) corporate, household and sovereign debt; (3) Pricing of assets in general equilibrium; and (iv) aggregate equilibrium models with the financial sector. My approach is to develop and discuss in detail a standard framework suitable for addressing most topics, usually covering some central topics and core papers. We then discuss the more recent literature, highlighting how the authors have incorporated and expanded on core ideas. This part of the course is usually based on regular presentations by students.

Topics in Asset Pricing

This course introduces the student to recent developments in the asset pricing literature. The starting point for the course is the neoclassical normative logical expectations framework. We will then investigate where this framework has worked and where it has not. Newly documented deviations from the framework have been discussed in the literature and contextualized. The course will also focus on hypothesis development, modern research methods and research writing. The ultimate goal is for students to develop their own research ideas and ideas, resulting in a paper.

Methods in Microeconomics

The course will cover a variety of micro-econometrics models and methods including panel data models, program evaluation methods such as variation in variances, matching techniques, regression discontinuity design, instrumental variables, duration models, structural estimation, and moment simulation methods. The course structure consists of lectures, student presentations and experiential exercises. The studies published in a variety of areas such as corporate finance, labor economics and industrial regulation will be used to illustrate different techniques. The aim of the course is to provide students with a working knowledge of various econometric techniques that they can apply in their own research. As such, the course's focus is on applications, not theory.

The second stage - Practical Training 54 Credits

PhD practical training

The student is assigned two hypothetical courses that the college chooses from among the courses that the student has studied at the undergraduate level, and this is considered a practical training for the student to be evaluated for eighteen credit hours. The student must divide each course from twelve to fourteen brief lectures. The student presents each lecture in the form of a written summary of its topic in Word or PDF format, accompanied by a video recording of it in the student’s voice using Power Point, the duration of which is no less than ten minutes and not more than About twenty minutes.

The thrid stage - PhD Thesis 108 Credits

PhD Thesis

The student must pass the stipulated courses with a score of at least 70%.

● The student submits a request to the administration to register the thesis, along with a proposed topic in one of the subspecialty tracks.

● If the initial approval of the subject title is achieved, the college council will designate a supervisor to guide and follow up the student in preparing the plan.

● The research plan includes the importance of the topic and a critical presentation of previous studies in it, specifically the research problem, then defining the study's curriculum and its main hypotheses or questions that you want to answer, and the division of the study and its sources.

● The student presents his proposed plan in a scientific seminar, discussing the plan as a topic and an approach.

● The student adjusts his plan based on the professors' observations in the seminar if he is asked to amend.

● After the seminar, the plan is presented to the college council to take its decision regarding the registration of the subject.

● In the event of approval, the college council’s decision is presented to the college council to approve the registration, and the registration date is calculated from the date of the college council’s approval.

Discussion and awarding of degrees

● The minimum for preparing the thesis is one year and nine months starting from the date of approval by the College Council to register the topic, and the maximum is four years that can be extended for an exceptional fifth year on the recommendation of the supervisor and approval of the College Council, provided that the total period of student enrollment in the degree does not exceed six years.

● The supervisor submits a semi-annual report that includes what has been accomplished, and what is required in the remaining period.

● After the student completes the thesis and the supervisor reviews it, the supervisor submits to the college administration a report stating its validity for discussion, including an assessment of the student’s performance during the preparation period of the thesis of 140 degrees, with a full copy of the thesis signed by him, and a letter with the names of the discussion and judgment committee proposed by the professors of the specialty, for presentation to the college Council.

● At least fifteen days must pass before the student's discussion from the date of the approval of the discussion committee by the college.

● The validity period of the committee formed to discuss the thesis is six months, which may be renewed for a similar period based on a report from the supervisor and the approval of the College Council.

● Each member of the committee writes a detailed scientific report on the validity of the thesis for discussion, and evaluates the thesis out of 420 degrees, and the average of the three degrees is taken.

The student may not be discussed unless he/she gets at least 70% of the supervisor’s evaluation of his performance and the committee members’ evaluation of the thesis in the individual reports.

● A group report is submitted after the discussion, signed by all members of the committee, in which an evaluation of the thesis discussion is given out of 140 degrees.

To study a PhD degree at ISC, applicants must have a master’s degree from an accredited university. At ISC, we offer high quality postgraduate programmes for anyone who desires to achieve their academic and research ambitions.
ISC provides a study commensurate with the student's capabilities, especially in line with the time allotted daily for study, given that the master's student has practical and social responsibilities. We expect fully taught students to be able to obtain their Ph.D. degree within three academic years. We expect students who are partially studying to be able to earn their Ph.D. within 4-6 years of study.
The academic year is divided into four semesters. In each semester, the student is allowed to register a maximum of two research courses and one minimum course with a maximum of 24 credit hours and a minimum of 12 credit hours. Classes are distributed as follows: • The first semester begins at the beginning of the third week of October and ends at the end of the third week of December. • The second semester begins at the beginning of the first week of January and ends at the end of the first week of March. • The third semester begins at the beginning of the second week of March and ends at the end of the second week of May. • The fourth semester begins at the beginning of the fourth week of May and ends at the end of the fourth week of July. • Summer vacation begins at the beginning of August and continues for the third week of October. • After the end of each semester, a two-week vacation is scheduled between semesters.
The tuition fee is £75 per credit hour, • Students are allowed to register a maximum of 24 credit hours each semester and 12 credit hours as a minimum. • The student pays a one-time enrollment fee of 200 pounds when registering with the ISC • The student pays 100 sterling pounds per semester as the registration fee for study subjects. • The iddat hour = four actual hours.
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