PhD Programme

Accounting
Economics
Finance
Management Science and Operations
Marketing
Organisational Behaviour
Strategic and International Management
www.london.edu/phd/
4 About London Business School
7 PhD Programme overview
11 Placement highlights
12 Subject areas
20 Applying to the PhD Programme
22 Programme management
24 Faculty 2010/11
The Programme’s mission is to educate
excellent scholars who will be sought after
as faculty in leading business schools,
universities and research institutions.

Research oriented business schools offer some of the most exciting

and well-resourced environments in which to do interdisciplinary
social science today. At London Business School, a commitment
to training the next generation of business scholars is central to
our research activities. Our PhD programme leverages the School’s
acclaimed research faculty, and provides generous funding and
infrastructural support.

Our PhD students work closely with faculty on cutting-edge research

that spans a broad range of disciplines and topics. Through rigorous
coursework, supervised and joint research work, we bring our
students rapidly to the frontiers of knowledge in their chosen subject
area. Most graduates of our programme have gone on to take up
intellectually and financially rewarding careers with major business
schools and research institutes around the world. They are making
their mark through scholarship that influences the thoughts and
actions of academics, business leaders and policy makers.

My colleagues and I look forward to welcoming the best minds to the

next generation of business scholarship at London Business School.

Phanish Puranam
London Business School Chaired Professor of Strategic
and International Management
PhD Programme Chair
Co-Director, Aditya Birla India Centre

www.london.edu/phd/ 3
London Business School is consistently
ranked as one of the best business
schools in the world
Our faculty and students come from all over the world. Cultural diversity is not just an
aspiration but a reality, and our perspective is truly international.

The School has three main areas of activity: postgraduate degree Current PhD students by nationality
programmes (Masters and PhD), Executive Education programmes and
innovative, high impact research. It is, however, the students, faculty Russian Federation 5%
and staff involved in these activities who give the School its character
Rest of the World 12%
and vibrancy. Of the over 1,300 degree students studying at the School
each year, about 90% are drawn from outside the UK, from over 130
different countries. Similarly, some 84% of the School’s faculty are non-
UK citizens. European
Union 44%
The School is located in the heart of London, with offices and lecture
The Americas 14%
theatres spread between a magnificent 19th century Nash terrace
building overlooking Regent’s Park, and a neighbouring, state-of-the-art
building. The latter houses the School’s library – the best-resourced
business library in London – and the Fitness Centre, including a 25
metre swimming pool.

Why London Business School

London Business School research is internationally recognised. The Asia 25%
School excelled in the 2008 Research Assessment Exercise (RAE).

n  ur faculty are the driving force behind the School’s success. Their
O
innovative ideas and leading-edge research constitute our intellectual
capital. Working at the interface between theory and practice, these
renowned academics share their ideas with ambitious students

n  ur faculty and students come from all over the world. Our
O
perspective is truly international, offering the opportunities and
challenges of exploring the questions posed by the modern, global
business world

n  ur PhD Programme provides a rigorous academic training within

O
an international and research-focused environment. There is broad
flexibility in the choice of research areas and methods

n  he School has a unique location in the heart of the financial capital

T
of Europe with all that a vibrant cultural centre has to offer

n  he School provides full financial support, including a stipend and a

T
tuition fee waiver to all students admitted to the PhD Programme.

4 www.london.edu/phd
“What is it like to do a PhD at London
Business School? …Imagine that your
job is to think about the topics you are
most passionate about. Imagine being
surrounded by peers with similar interests
and having time to chat. Imagine being
a few steps away from the top experts in
your field. Imagine being in one of the
most exciting cities in the world. What
more can you ask for?”
Ramon Lecuona Torras
PhD2008, Strategic and International Management
MPP (Harvard), BA (Anahuac)
“The accessibility to expert faculty, boundless
research projects and rigorous courses at
London Business School are supplemented
by the London experience to create a unique
environment for both academic and personal
growth. The PhD students are fully prepared
to enter the academic job market with realistic
expectations of placement at a top institution and
continued success throughout their careers.”
Chris Parker
PhD2007, Management Science and Operations
MSc (Essex) BS (Oklahoma State)

6 www.london.edu/phd/
PhD Programme overview
The PhD Programme is London Business School’s investment in the future of
management teaching and research.

Ours is one of the largest business and management PhD Programmes
in Europe, attracting high-quality, international participants.
Our PhD students receive a thorough and sophisticated training in the
latest methods of enquiry, equipping them for productive academic
careers. Their training consists of two parts: coursework to give students
a grasp of research skills and the existing body of research knowledge in
their field; and a closely supervised thesis. The thesis allows students to
conduct a substantial piece of original research.
Students work within the following seven subject areas:
n Accounting
n Economics
n Finance
“Give a man a fish and you have fed him for a day; teach him how to
fish and you have fed him for his lifetime.’ It is an ancient proverb
emphasising the importance of being an independent person. I
believe the same applies to research. Doing a PhD means that you
become an independent researcher who does not just passively
absorb knowledge, but who creates new knowledge based on what is
already known.
I find that the PhD Programme at London Business School helps
students with this endeavour by providing both the skills and
knowledge necessary to become successful researchers. The
rigorous training, combined with close interaction with faculty and
friendly, supportive cohorts, will surely make my journey to become a
successful scholar both effective and highly enjoyable.”

n Management Science and Operations Chung Won Tae

n Marketing PhD2007, Strategic and International Management
MA (Seoul National University) BBA (Ritsumeikan)
n Organisational Behaviour
n Strategic and International Management
Profile of recent PhD intakes (2006 to 2010)
Typically, a student completes the PhD Programme within four to five
years. In the first two years, students complete core and elective courses Women 28 40%
in their chosen subject and related areas. They then go on to present a Men 42 60%
thesis proposal with a view to transferring from MPhil to PhD status.
Average class intake 14
After this, students have 18 months to complete a thesis – an original
contribution to their chosen specialisation. On the successful completion Age range* 21–41
of their thesis, they are awarded a London Business School PhD degree.
*Our admissions decisions are taken in accordance with best equal
The Programme only runs on a full-time basis and students are
opportunities practice
expected to live in London throughout.

www.london.edu/phd/ 7
Academic years 1 and 2
The academic year begins in early October, and is divided into three, ten-week terms.

During the first two years, students are normally required to take at
least 12 courses. As well as PhD courses, students can sometimes
choose MBA elective courses (depending on availability) and some
courses at other colleges within the University of London. In some cases,
a student’s prior experience earns them exemption from particular
courses.
n Advanced Stochastic Modeling
n Dynamic Macroeconomics
n Financial Economics I – Asset Pricing Theory
n Financial Economics II – Empirical Finance
n Financial Economics III – Corporate Finance

Most subject areas require students to satisfactorily complete a specialist n Continuous Time Finance
field exam and a first and/or second year research paper. As part of their n Proseminar in Marketing
training, each PhD student aids faculty with 40 days worth of assistance n Marketing Management and Strategy
on research papers, case writing, tutoring and grading.
n Consumer Behaviour
Compulsory courses n Judgment and Decision Making
All students n Micro Organisational Behaviour
n Foundations of Business Research n Macro Organisational Behaviour
n Readings in Social Psychology
Accounting, Economics and Finance
n Topics in Econometrics
n Econometrics
n International Macroeconomics
n Microeconomics II
n Strategy Process
Organisational Behaviour and Strategic and International Management n Strategy Content
n Basic Readings in Business n Analytical Methods in Strategy
n Statistical Research Methods
*Additional courses may be taken as electives. Course offerings vary from year to year.
n Microeconomics I
n Research Design

Management Science and Operations and Marketing

n Statistical Research Methods or Econometrics
n Microeconomics I or II
n Basic Readings in Business
n Research Design

Specialised courses
Students select from the following courses* based on their chosen
specialisation:
n PhD Seminars in Accounting I and II
n Decision Theory
n Design and Analysis of Experiments
n Time Series Analysis

8 www.london.edu/phd/
Academic years 3 and 4
In the third year, students present their thesis proposal. Successful candidates are
transferred to PhD status and are expected to defend their thesis and complete their
PhD within 18 months.

During their third year, students transfer from MPhil to PhD status after Accepted visiting students pay tuition fees on a prorated basis.
successfully presenting and defending their thesis proposal orally to Unfortunately, financial aid or office space are not available from the
a committee. The committee examines the theory and methodology Programme.
underlying the research, the areas of application and relevance of the
work, and its significance to research in business and management. Courses at other University of London colleges
Students can take courses at other University of London colleges, such
Thesis as University College London (UCL) and London School of Economics
A PhD thesis should provide a distinct contribution to the knowledge and Political Science (LSE), depending on local college rules, cost and
of the subject and should supply evidence of originality, shown either availability.
by the discovery of new facts or by the exercise of independent critical
power. In the field of business studies, these requirements demand
either original theoretical work or empirical work with primary or
secondary data. A worthwhile thesis will offer interesting new insights,
but it is expected to go further by underpinning them with scholarship.
This ensures that the insights will stand up to the critical scrutiny of
experts in the area.

Subject area seminars

Subject areas run seminars where faculty, research students and visitors
present their research. The School attracts internationally renowned
speakers and the seminars promote active and lively discussions on
contemporary research issues. Students are expected to attend their
subject area’s research seminars.

Trans-Atlantic Doctoral Conference

The School’s annual Trans-Atlantic Doctoral Conference invites students
from top US and European business schools to present their research.
This popular conference, organised since 2001 by the School’s PhD
students, attracts about 100 students each year from schools such as
Berkeley, Chicago, Columbia, Duke, INSEAD, MIT, Stanford, Wharton,
Harvard, Yale, and NYU.

Conferences
Students are encouraged to present papers at conferences for which
financial assistance from the Programme is available.

Visiting students
PhD students from other institutions may spend up to one year as a
visiting student at London Business School. However, these students
are only considered when they have been recommended by a London
Business School faculty member and have completed our standard PhD
application form (marked ‘visitor’).

www.london.edu/phd/ 9
Conference presentations
Recent conference presentations by London Business School’s PhD students

Labor and Capital: Is Debt a Bargaining Tool?, Labor Laws and Innovation,
Eleni Simintzi, PhD2007, Finance, Ramin Baghai-Wadji, PhD2006, Finance,
European Finance Association Conference, Frankfurt, 2010 Western Finance Association, San Diego, 2009

Interdependence, Information Processing, and Organization Design: Revenue Management for Online Advertising Using Advertising
An Epistemic Perspective, Networks,
Marlo Goetting, PhD2007, Strategic and International Management, Sami Najafi-Asadolahi, PhD2005, Management Science and Operations,
Academy of Management, Montreal, 2010 INFORMS Annual Meeting 2009, San Diego, 2009

From Interactions to Exchanges: Prior Relationships and Recruitment

Performance in Executive Search,
Marko Coh, PhD2006, Strategic and International Management,
Academy of Management, Montreal, 2010 “I believe the best thing about
Uncovering the Process of Executive Mobility,
Marko Coh, PhD2006, Strategic and International Management,
the PhD Programme at
Strategic Management Society Conference, Rome, 2010
London Business School is the
Punishment by Pricing: Contested Practices and Buyer-Supplier
Relations, close interaction with world-
Amandine Ody, PhD2007, Strategic and International Management,
Strategic Management Society Conference, Rome, 2010 class faculty on a day to day
Auditor Specialization and the Cost of Debt, basis. Nothing beats discussing
Yun Lou, PhD2007, Accounting,
American Accounting Association Conference, San Diego, 2010 face to face with the experts in
Accounting Conservatism and Cost of Capital,
Xi Li, PhD2005, Accounting,
your field.”
American Accounting Association Conference, San Diego, 2010
Clemens Otto
Boundary Work in Groups: Locus and Function as Dimensions PhD2007, Finance
Influencing Group Effectiveness, Diplom Kaufmann (Cologne), CEMS Masters in International
Amanda Ferguson, PhD2007, Organisational Behaviour, Management (HEC Paris / Cologne)
INGRoup Conference, Washington DC, 2010

Predicting Inferences about Business Schools: Recognition Heuristic

vs. Its New Rival Mean-Variance Model,
Yvetta Simonyan, PhD2006, Marketing,
Behavioural Decision Research in Marketing Conference, Pittsburgh, 2010

When to Allow Buyers to Sell? Bundling in Mixed Two-Sided Markets,

Ming Gao, PhD2005, Economics,
Royal Economic Society Meeting, London, 2010

Insider Trade Disclosure, Market Efficiency, and Liquidity,

Andrea Buffa, PhD2007, Finance,
Western Finance Association, San Diego, 2009

10 www.london.edu/phd/
Placement highlights

2010 2009 2008 2007 2006

Eva Ascarza Georgy Chabakauri Heidi Gardner Pedro Saffi Ana Vidolovska
Marketing, Columbia Finance, London School Organisational Behaviour, Finance, IESE, University Accounting, London
University of Economics Harvard Business School of Navarra School of Economics

Ramya Ranganathan Yael Grushka-Cockayne Kai-Yu Hsieh Astrid Schornick Yanling Guan
Organisational Behaviour, Management Science Strategic and Finance, INSEAD Accounting, University of
IIM Bangalore and Operations, Darden International Hong Kong
Pascale Crama
School of Business Management, National
Jungsuk Han Management Science Jorge Gonzalez
University of Singapore
Finance, Stockholm Stefano Sacchetto and Operations, Marketing, IESE,
School of Economics Economics, Carnegie Felipe Monteiro Singapore Management University of Navarra
Mellon University Strategic and University
Oguzhan Karakas Ben Bryant
International
Finance, Carroll School Bart Vanneste Susan Lynch Organisational Behaviour,
Management, Wharton
of Management, Boston Strategic and Strategic and IMD, Lausanne
School, University of
College International International
Pennsylvania Jayanth Narayanan
Management, INSEAD Management, INSEAD
Mihaela Stan Organisational Behaviour,
Jason Sturgess
Strategic and Dmitry Makarov National University of
Finance, McDonough
International Finance, New Economics Singapore
School of Business,
Management, University School, Russia
Georgetown University Michelle Rogan
College London
Strategic and
Xi Li International
Accounting, Fox School Management, INSEAD
of Business, Temple
University

Li Zhang
Accounting, Rutgers
Business School

Ming Gao
Economics, Tsinghua
University

www.london.edu/phd/ 11
Subject areas
PhD Programme in Accounting
The objective of the PhD Programme in Accounting is to train students to conduct
original academic research dealing with the design and use of accounting information.
Studies in this area link substantive accounting issues with theory and methods from
Economics and Finance.

During the first year, students acquire an understanding of general
accounting principles and can then focus on more specific issues within
their area of specialisation.
Students begin active research at an early stage and work closely
with faculty throughout the programme. Accounting doctoral courses
and the group’s weekly seminar series give students the opportunity
to tap into recent faculty research and expertise on a wide range of
topics, including the role of financial information in capital markets; the
effect of corporate disclosure policies on securities markets; corporate
governance; private equity; mergers and acquisitions; accounting
regulation; valuation of intangible assets; performance measurement;
and executive compensation.
“The PhD Programme provides us with a rigorous and creative training
experience in the field of Accounting. This is done in an environment
of active interaction with other closely linked subject areas. The
Accounting faculty ensures great opportunities for exchanging
research ideas with top class researchers from around the world
which, in turn, stimulates our research and increases our visibility in
the academic circle.”
Yun Lou
PhD2007, Accounting
MA (Reading) MA (Universitat Autonoma de Barcelona and University
Paris 1-Pantheon-Sorbonne) BA (Zhejiang)

Recent theses
n Causes and Consequences of Corporate Financial Reporting (Li)

n On the Value-Relevance of Financial and Non-Financial Information:

The Case of Internally Generated Intangibles (Vidolovska)

n  he Interaction between Mandatory Reporting and Voluntary

T
Disclosure and their Relevance to Equity Market and Credit Market
(Zhang)

Faculty PhD Coordinator

Irem Tuna
Associate Professor of Accounting
BSc (METU) MAS (Illinois) PhD (Michigan)

12 www.london.edu/phd/
Subject areas
PhD Programme in Economics
The Economics programme is designed around two key features making ours a near
unique offering – a small number of focused courses provided in areas in which the subject
area specialises and a small cadre of students who form a close working relationship both
amongst themselves but also most importantly with the Economics faculty.

A crucial feature of our programme is the very high faculty-student ratio. “Doing a PhD may prove to be the most challenging ‘project’ of your
This inevitably results in a close relationship between the student and life. At London Business School you will be provided with everything
their supervisor and this is encouraged through our selection process you need to succeed and exceed your limits: A stimulating learning
by choosing students who express a mature interest in working in an environment, unique access to courses and resources, and most
area in which faculty specialise. Such a student can then be expected importantly, extraordinary support and leadership from faculty.
to work closely with their supervisor, gain access to leading international
The PhD at London Business School is different from other
conferences and be closely monitored and assisted through the all
programmes in the way students can work and discuss closely with
important job market experience.
professors, and grow to become top researchers in economics. On
In their first two years students take six internal economics courses – campus everything you can dream of is provided so that you can
covering micro, macro and econometrics. The aim of these courses is focus on your studies and excel in your field with the support and
to equip students with advanced technical skills with which to pursue leadership of faculty.”
their studies and to give them access to the current frontiers of research.
Fabian Lipinsky
These courses are taught by our own Faculty and also by visitors. Past
PhD2008, Economics,
visitors have included Acemoglu (MIT), Canova (UPF), Gourinchas
MSc (ESCP-EAP Oxford, Madrid, Paris),
(UC Berkeley), Marcet (LSE), Rigobon (MIT) and Sargent (NYU). There
BA (Technische Universität Berlin)
is also the option to take courses from other subject areas at London
Business School, as well as courses offered at LSE and UCL. While
pursuing their coursework students are encouraged to begin their
research in their chosen area.

The Economics subject area has an outstanding international reputation

in key areas of research such as game theory and decision theory,
industrial economics, R&D, international macroeconomics and finance,
business cycles (both theory and econometrics) as well as fiscal and
monetary policy. The Economics faculty is very well published in leading
international journals as well as experienced in offering practical advice
to a range of governments and institutions. Several faculty members are
editors or associate editors of leading international journals.

Recent theses
n Economic Behaviour and Decision Making (Gao)

n  heory and Empirics of Cross Country Trade in Bonds and Equities

T
(Rahbari)

n Structural Estimation of Takeover Contests (Sacchetto)

Faculty PhD Coordinator

Hélène Rey
Professor of Economics
BS (Ecole Nationale de la Statistique et de L’Administration
Economique), MS (Stanford) PhD (LSE) PhD (Ecole des Hautes Etudes
en Science Sociales)

www.london.edu/phd/ 13
Subject areas
PhD Programme in Finance
The Finance Department is the School’s largest group, with 23 full-time faculty
members undertaking both theoretical and empirical research, in all of the following
areas: asset pricing (equity, fixed income and derivatives); behavioural finance;
corporate finance and corporate governance; investment; and market microstructure.

Students are encouraged to think in a creative way, with an emphasis on

formal rigour and techniques. The first year provides students with an “I came to London Business
understanding of the theory and the tools needed to conduct theoretical
and applied research. The core courses include Asset Pricing, Corporate School to learn from the
Finance, Empirical Finance, Continuous-Time Finance, Microeconomics,
and Econometrics. Students are required to write a second year
best people in the field of
research paper.
finance. A PhD Programme is
Recent theses
n  ortfolio Choice and Asset Pricing in Incomplete Markets
P
a great challenge and at the
(Chabakauri) most difficult times I always
n

n
Asset Pricing with Imperfect Information (Han)

Value of Voting and Other Issues in Corporate Governance (Karakas)

remember the words of my
Faculty PhD Coordinators
former supervisor: ‘aim high
Francisco Gomes and follow your dreams, this is
Associate Professor of Finance
BA (Universidade Nova de Lisboa) MA PhD (Harvard) the key to happiness’. ”
Paolo Volpin
Irina Zviadadze
Associate Professor of Finance
PhD2008, Finance,
BA (Bocconi) MA PhD (Harvard)
MA (European University at St Petersburg)
MS (St Petersburg State University)

14 www.london.edu/phd/
Subject areas
PhD Programme in Management
Science and Operations
The Management Science and Operations (MSO) concentration focuses on quantitative
decision making. The research undertaken in MSO typically involves developing and
analysing models of business problems faced under uncertainty.

Students have a strong analytical background, often holding a Bachelors
or Masters degree in mathematics, physics, engineering or quantitative
economics. Student participation in faculty’s collaborative research
projects provides a unique opportunity to work as part of a team and to
gain invaluable experience. Students can specialise in one of two main
areas: decision sciences or operation management. Multidisciplinary
research combining elements from both areas is also welcome. The two
areas cover the following topics among others:
First year courses provide a theoretical and methodological preparation
for undertaking research in one of the above areas. In addition to
coursework assessments, students write a second year research paper
and need to pass a comprehensive exam in their second year.
Recent theses
n  pplications of Discontinuous Structural Finite Mixture and Regime-
A
Switching Time-Series Models to Electricity Price Risk (Chen)

Decision sciences n Introduction of Technological Innovations: Valuation, Selection and

Timing (Grushka-Cockayne)
n Applied statistics and stochastic modelling
n Computational learning and agent-based simulation n  ervice Combinative Capabilities and Service Operations Strategy:
S
Formulation, Process and Antecedents (Wang)
n Decision analysis and decision support
n Electricity and energy economics Faculty PhD Coordinators
n Forecasting Kristin Fridgeirsdottir
n Management science / operations research Assistant Professor of Management Science and Operations
MS PhD (Stanford)
n Portfolio optimisation
n Project, programme and portfolio management Kamalini Ramdas
Professor of Management Science and Operations
n Queuing theory
BS (Delhi) MS (Delaware) PhD (Pennsylvania)
n Revenue management and pricing
n Risk analysis
n Simulation
n Stochastic and nonlinear optimisation
n Strategic modelling and simulation
n System dynamics and feedback systems

Operation management
n Information systems design and analysis
n Operation systems and strategy
n Service management
n Supply chain management
n Technology management

www.london.edu/phd/ 15
Subject areas
PhD Programme in Marketing
The Marketing PhD Programme is designed to train scholars who will conduct research to
advance the frontiers of the discipline of marketing, teach marketing at premier universities
around the world, and prepare the next generation of marketing doctoral students.

Students in the Marketing PhD Programme have direct access to

and work closely with London Business School’s world-renowned
marketing faculty.

Marketing is an exciting discipline that offers a wide range of

areas in which to conduct research and teach. Research topics in
Marketing cover the gamut from explaining consumer behaviour to
the development of mathematical models to understand and predict
firm behaviour and improve marketing practice. Researchers apply a
variety of approaches, from experimental tests of psychological theories
to econometric models of firm behaviour. The job market for PhDs
in marketing is quite attractive, and the ratio of job openings to job
candidates is several times higher than that in most academic areas,
including economics, psychology, and engineering.

Given London Business School’s location and reputation, PhD

students at the school have unique access to insights and data from
top businesses. Through their research, they have the opportunity to
influence the actions and thinking of researchers, managers, consumers,
and policy makers around the world.

Recent theses
n Modelling Customer Behaviour in Contractual Settings (Ascarza)

n Retail Product Availability: Empirical and Theoretical Issues (Bruno)

n  easurement of Competitive Issues in Product Entry Decisions

M
(Gonzalez)

Faculty PhD Coordinator

Rajesh Chandy
Professor of Marketing
MBA (Oklahoma) PhD (USC)

16 www.london.edu/phd/
Subject areas
PhD Programme in Organisational Behaviour
The mission of the Organisational Behaviour subject area is to be the most creative, top
quality OB group in the world, through its distinctive high profile research agenda, teaching
portfolio, and executive education involvement.

Current work engages issues such as leadership, corporate boards,
creativity, group dynamics, cross-cultural teams, family firms, HR /
careers, negotiations, and organisational design, considering how these
relate to business performance and entrepreneurship. Our work is both
theory-driven and close to practice, taking advantage of our position in
the heart of London as a leading global centre for business. Faculty in the
Organisational Behaviour group are focused on both Micro Organisational
Behaviour – the study of individual and group behaviour in an
organisational context, and Macro Organisational Behaviour – the study
of how institutional and social forces affect organisations and the people
in them. We draw heavily on theory from psychology and sociology, and
often publish in discipline-based, as well as management journals.
We expect PhD students to take four years to complete the degree, during
which they will learn to conduct original empirical research, tutor and
teach, and internalise the professional values and traditions of the field.
“Studying at London Business School gives me the opportunity to
meet top scholars from around the world. The faculty and students
in the OB department come from highly diverse backgrounds and
have a variety of research interests, and department research
seminars attract leading scholars from other universities to share their
knowledge. OB faculty are excited to work with PhD students and
involve us early in research projects with them. They encourage us
to develop our own research ideas and eagerly help us to bring those
ideas to fruition.”
Amanda Ferguson
PhD2007, Organisational Behaviour
MBA BS (Missouri State University)

Recent theses
n  xpertise Utilization in Project Teams: A Status-Based Account of
E
Process and Performance (Gardner)

n  eeting the Competing Goals of CSR: Exploring the Potential of Value

M
Diversity in Teams (Ranganathan)

n  reativity in Groups: the Cognitive, Affective and Social Consequences

C
of Shared Representations on Group Creativity (Ronson)

Faculty PhD Coordinator

Gillian Ku
Assistant Professor of Organisational Behaviour
AB (Harvard) MS PhD (Northwestern)

www.london.edu/phd/ 17
“One of the first things I noticed upon coming to London
Business School is that you’re part of the team from day one.
The faculty are keen to learn your interests and help you with
developing them from the very beginning. Their world-class
professional competencies are coupled with a very down-to-
earth attitude towards incoming PhD students, in combination
creating a pleasant and stimulating work environment. Seminars
and the Trans-Atlantic Doctoral Conference serve as a vehicle
in bringing the world’s top scholars and PhD students to the
campus, keeping London Business School’s PhD students in
touch with the cutting edge research and people conducting it.”
Marko Coh
PhD2006, Strategic and International Management
MSc BSc (University of Ljubljana)

18 www.london.edu/phd/
Subject areas
PhD Programme in Strategic and
International Management
Research in this area focuses on understanding how organisations create and sustain
superior competitive performance, as well as on the processes by which economic value is
created and distributed in markets.

This interdisciplinary field draws on concepts and theories from

economics, sociology and psychology, and addresses a wide variety
of topics that have direct or indirect implications for organisational
effectiveness. The entrepreneurship research unit also now resides
within the SIM department.

We emphasise real world relevance as a core value. Our students should

be committed to conducting rigorous research, but also to addressing
questions that have significant implications for firms and markets.
Students can specialize in e.g. the following areas:

n Competitive strategy
n Corporate strategy
n Strategy and organisation
n Technological change and innovation
n Entrepreneurship
n International management
n Emergence and evolution of markets
n Structure of market competition

In the first two years, students develop the theoretical knowledge

and methodological skills needed to become successful researchers.
Compulsory courses include Microeconomics, Basic Readings in
Business, Research Design, Strategy Content and Strategy Process.
Further requirements depend on the area of specialisation. Student
progress is assessed through their coursework, by field examinations
at the end of the first and second year, and a compulsory second year
research paper and presentation to the department.

Recent theses
n  onnecting the Dots: Uncovering the Technology Scouting Process
C
(Monteiro)

n The Context of Organizational Learning (Stan)

n Organization of Vertical Relationships (Vanneste)

Faculty PhD Coordinator

Brandon Lee
Assistant Professor of Strategic and International Management
MS PhD (Cornell)

www.london.edu/phd/ 19
Applying to the PhD Programme
Funding
All students offered a place on the Programme receive a scholarship
covering tuition fees and a stipend for four years, subject to satisfactory
academic performance. However, students are expected to apply for
alternative support for which they are eligible (e.g. ESRC funding).
Living costs and accommodation
There is currently no residential accommodation at the School, but
students can apply for accommodation in some of the University
of London Halls of Residence. A number of these also have
accommodation for couples and families.
www.halls.london.ac.uk
The University of London Housing Services also provides information on
privately rented accommodation. Their informative website is a useful
starting point.
www.housing.london.ac.uk
Living costs in London vary considerably according to individual
circumstances and lifestyle. If you are accepted on the Programme,
you will be provided with further information regarding accommodation
options that students in the past have opted for.
20 www.london.edu/phd/
How to apply
Applications and all accompanying documents should be submitted by
8 January for entry into the Programme in September / October of the
same year.
Applicants are expected to hold an undergraduate degree in a relevant
discipline, with a final grade which places them in the top 10% of their
graduating class. Admission to the programme is very competitive.
Although it is not a requirement, most incoming students also hold a
Masters degree.
All applicants must submit a GMAT or GRE score that is no more than
five years old. The minimum required score for this varies according to
each subject area, although applicants are unlikely to be short-listed for
an interview if their score is less than 650 in the GMAT.
For the GRE, which we view as an acceptable alternative to the GMAT,
we expect quantitative and analytical scores above the 90th percentile.
Some subject areas state which test they would prefer applicants to take
(see below).
Economics
Management Science and Operations
Accounting
Marketing
Applying to the PhD Programme

Unless you are a native English speaker or have a degree from a For more information
university in an English-speaking country (where the language of Website
instruction was English), you must submit evidence of proficiency Regularly updated information about the School and the Programme
in English. You should have scored at least 600 (paper-based), 250 can be found on the PhD Programme’s website
(computer-based) or 100 (Internet-based) on the TOEFL to be
considered. Other recognised English language tests (IELTS, Cambridge) www.london.edu/phd
are also accepted. A valid test report (less than two years old) must be This brochure can also be downloaded from the site.
submitted to the Programme Office.
PhD Programme Office
Short-listed applicants will be invited to an interview in February or
If you would like any further information, please contact:
March to meet faculty and to see the School’s facilities.
PhD Programme Office
It is sometimes possible for candidates who are unable to travel to
London Business School
London to be interviewed by telephone.
Regent’s Park
Regrettably, due to the large number of applications received each year, London NW1 4SA
it is not normally possible to arrange meetings with members of faculty UK
prior to an interview. Tel +44 (0)20 7000 8989
Fax +44 (0)20 7000 8951
Applicants should submit Email phd-info@london.edu
n Completed application form with essays (online)
This brochure is available on our website, www.london.edu. If you
n Two academic references (online) require a copy of this brochure in large print or Braille, please call
+44 (0)20 7000 8989 or email phd-info@london.edu
n Original GMAT or GRE score report

n  ranscript or certified copy of university grades from all past degrees

T Applying online
(online or by post) We strongly prefer online applications. Please visit the admissions pages
on our website
n Valid, original TOEFL, IELTS or Cambridge score report (if required)

An application will not be considered until all of the above items have
www.london.edu/phd
been received. All items should arrive at the PhD Programme Office by
8 January.

GMAT and GRE

GMAT and GRE are administered by independent agencies. The
tests measure verbal, quantitative and analytical skills and provide an
indication of the ability for clear and systematic thought.

GMAT
www.gmac.com/gmac/thegmat/
GRE
www.gre.org

www.london.edu/phd/ 21
Programme management
The PhD Committee comprises representatives from each of the seven subject areas, and
members of the administrative team. The Committee is chaired by the PhD Programme
Chair, Phanish Puranam.

PhD Programme Office

Judith Fry
Deputy Director, Academic Affairs Office
Judith has overall responsibility for the development and management of
the PhD Programme, as well as Academic Affairs administration duties.
Responsibilities include the control of budgeting, marketing, planning
and admissions. Judith also plays an important role in the pastoral care
of the PhD students.

Jenny Kovalaine-Kwan Judith Fry

PhD Programme Manager Deputy Director, Academic Affairs Office
Jenny is responsible for the day-to-day administration of the PhD
Programme, including course timetabling, co-ordinating the application,
interview and offer process, and thesis examination matters. She also
maintains the Programme’s website and co-ordinates the production
of publicity materials, as well as providing statistical information for the
annual HESA and other returns.

Loraine Evans
PhD Programme Administrator
Loraine provides support to the Deputy Director, Academic Affairs Office,
and the PhD Programme Manager. Acting as the first point of contact for
internal and external enquiries, she is responsible for the dissemination Jenny Kovalaine-Kwan
of promotional information about the PhD Programme and the initial PhD Programme Manager
processing of applications. Loraine also maintains student and applicant
information on the PhD database and in student files and assists
with the organisation of various PhD events, such as the orientation
programme and social events.

Loraine Evans
PhD Programme Administrator

22 www.london.edu/phd/
“Doing a PhD is all about learning the
ropes properly as, later on, you are
going to be only as good as the quality
of training you receive during your
doctoral years. Here at London Business
School, the best known academics
are in abundance – so you can learn
directly from the masters! Combine that
with a programme office dedicated to
supporting doctoral students, strong
corporate ties that come in handy when
your research needs real-life data, and
the truly international nature of the
programme. London Business School is
hard to beat!”
Amit Kakkad
PhD2005, Management Science and Operations
BSc (DD Institute of Technology, India) MBA (Rollins College, USA)

www.london.edu/phd/ 23
Faculty 2010/11
Accounting Richard Portes Brandon Julio
Eli Amir BA (Yale) MA DPhil (Oxford) CBE FBA BA (Brigham) MS (South Carolina) PhD (Illinois)
BA (Tel Aviv) MSc PhD (University of California, Professor of Economics Assistant Professor of Finance
Berkeley) CPA Lucrezia Reichlin Samuli Knupfer
Professor of Accounting Laurea (Modena) PhD (New York) BSc MSc PhD (Helsinki School of Economics)
Maria Correia Professor of Economics Assistant Professor of Finance
Lic (Universidade do Porto) Masters (Universidade Hélène Rey Igor Makarov
Nova de Lisboa) PhD (Stanford) MS (Stanford) PhD (London) MS (Moscow State) MA (NES) PhD (MIT)
Assistant Professor of Accounting Professor of Economics Assistant Professor of Finance
Francesca Franco Andrew Scott Narayan Naik
BS (Bocconi) PhD (Padova) MSc (London) DPhil (Oxford) BTech (IIT, Bombay) MBA (IIM, Ahmedabad)
Assistant Professor of Accounting Professor of Economics PhD (Duke)
Ningzhong Li Paolo Surico Professor of Finance
BA (Peking) MA (SUNY) PhD (Chicago) BA (Bari) Masters (Universitat Pompeu Fabra) Anna Pavlova
Assistant Professor of Accounting PhD (Bocconi) MSc (Moscow State University) MA (New Economic
Sir Andrew Likierman Associate Professor of Economics School, Moscow) PhD (Pennsylvania)
MA (Oxford) FCMA FCCA Associate Professor of Finance
Professor of Management Practice Stephen Schaefer
Finance MA (Cambridge) PhD (London)
Lakshmanan Shivakumar
Suleyman Basak Professor of Finance
BCom (Madras) MBA PhD (Vanderbilt)
BSc (London) MS PhD (Carnegie Mellon) Henri Servaes
Grad CWA (India)
Professor of Finance BSc BBA (European University) MSIA PhD
Professor of Accounting
Joao Cocco (Purdue)
Eli Talmor
BA (Universidade Catolica Portuguesa, Lisbon) Professor of Finance
BSc (Technion) PhD (North Carolina at Chapel Hill)
MA PhD (Harvard) Raman Uppal
Professor of Accounting
Associate Professor of Finance BA (Delhi) MA MBA PhD (Wharton)
Ane Tamayo
Ian Cooper Professor of Finance
BSc (Basque Country) MSc (Heriot-Watt) MPhil
MA (Cambridge) MBA PhD (North Carolina) Vikrant Vig
(City, London) MS PhD (Rochester)
Professor of Finance BS (Delhi) MS MBA MiF (Illinois) PhD (Columbia)
Assistant Professor of Accounting
Francesca Cornelli Associate Professor of Finance
Irem Tuna
BA (Bocconi) PhD (Harvard) Paolo Volpin
BSc (Middle East Technical University)
Professor of Finance BA (Bocconi) MA PhD (Harvard)
MAS (Illinois) PhD (Michigan)
Associate Professor of Accounting James Dow Associate Professor of Finance
MA (Cambridge) PhD (Princeton)
Oktay Urcan
Professor of Finance
BA (Bogazici) PhD (Texas)
Peter Feldhutter Management Science and Operations
Assistant Professor of Accounting
BA PhD (Copenhagen) Nitin Bakshi
Florin Vasvari
Assistant Professor of Finance BTech (Indian Institute of Technology) MS
MA (University of Toronto) PhD (Rotman School
Julian Franks (Stanford) PhD (Pennsylvania)
of Management, Toronto)
BA (Sheffield) MBA (Columbia) PhD (London) Assistant Professor of Management Science
Assistant Professor of Accounting
Professor of Finance and Operations
Vito D Gala Derek Bunn
Economics BA (Bocconi) MBA PhD (Chicago) MA (Cambridge) MSc PhD (London)
Jean-Pierre Benoit Assistant Professor of Finance Professor of Decision Sciences
BA (Yale) PhD (Stanford) Francisco Gomes Zeger Degraeve
Professor of Economics BA (Universidade Nova de Lisboa) MA PhD BSc (Ghent) MBA (Katholieke Universiteit Leuven)
Frederic Malherbe (Harvard) PhD (Chicago)
PhD (ECARES, Universite Libre de Bruxelles) Associate Professor of Finance Professor of Decision Sciences
Assistant Professor of Economics Joao Gomes Victor DeMiguel
Leonardo Melosi BA (Universidade Nova de Lisboa) MA PhD MSc (Madrid) MS PhD (Stanford)
BA (LUISS Guido Carli) MA PhD (Pennsylvania) (Rochester) Associate Professor of Decision Sciences,
Assistant Professor of Economics Professor of Finance Management Science and Operations
Joao Montez Alexander Gorbenko Kristin Fridgeirsdottir
MSc (Lausanne) MSc (Toulouse) PhD (Lausanne) MS (MIPT) MA (NES) PhD (Stanford) MS PhD (Stanford)
Assistant Professor of Economics Assistant Professor of Finance Assistant Professor of Management Science and
Christopher Hennessy Operations
Emre Ozdenoren
BA (Middle East Technical University) BA (Swarthmore College) MBA PhD (Princeton) Jeremie Gallien
MA (Bilkent) MA (State University of New York) Professor of Finance EngD (Ecole des Mines de Paris) PhD (MIT)
PhD (Northwestern) Christian Heyerdahl-Larsen Associate Professor of Management Science
Associate Professor of Economics MSc (Cass) PhD (Norwegian School of and Operations
Management)
Assistant Professor of Finance

24 www.london.edu/phd/
Vasiliki Kostami Organisational Behaviour Gary Dushnitsky
BSc (Athens) MSc (AUEB) PhD (USC) Rob Goffee BA MSc (Tel Aviv) PhD (New York)
Assistant Professor of Management Science BA PhD (Kent) Associate Professor of Strategic and International
and Operations Professor of Organisational Behaviour Management
Kamalini Ramdas Lynda Gratton Isabel Fernandez-Mateo
BS (Delhi) MS (Delaware) PhD (Pennsylvania) BA PhD (Liverpool) BA (Carlos III, Madrid), MSc (UPF, Barcelona),
Professor of Management Science and Operations Professor of Management Practice in Organisational PhD (MIT)
Nicos Savva Behaviour Assistant Professor of Strategic and International
BA MPhil PhD (Cambridge) Ena Inesi Management
Assistant Professor of Management Science BSE (Duke) PhD (Stanford) Michael Hay
and Operations Assistant Professor of Organisational Behaviour BA DPhil (York) Sloan Fellow (London Business
Bruce Weber Gillian Ku School)
AB (Harvard) MA PhD (Wharton) AB (Harvard) MS PhD (Northwestern) Professor of Management Practice in
Professor of Information Management Assistant Professor of Organisational Behaviour Entrepreneurship and Strategic and International
Song Yang Management
Henry Moon
MBA PhD (Chicago) BS (Maryland) MA (Olkahoma) PhD (Michigan Ioannis Ioannou
Assistant Professor of Management Science State University) BA (Yale) MA PhD (Harvard)
and Operations Associate Professor of Organisational Behaviour Assistant Professor of Strategic and International
Management
Celia Moore
BA (McGill) MPA (Columbia) PhD (Toronto) Michael Jacobides
Marketing BSc (Athens) MA PhD (Wharton)
Assistant Professor of Organisational Behaviour
Marco Bertini Associate Professor of Strategic and International
Nigel Nicholson
BA BCom (Melbourne) MBA (IESE Business School, Management
BA (Cardiff) PhD (Wales)
Navarra) DBA (Harvard) Brandon Lee
Professor of Organisational Behaviour
Assistant Professor of Marketing MS PhD (Cornell)
Margaret Ormiston
Simona Botti Assistant Professor of Strategic and International
BA (California) MS (University of California,
BBA (Bocconi) MBA PhD (Chicago) Management
Berkeley) PhD (HAAS)
Assistant Professor of Marketing Costas Markides
Assistant Professor of Organisational Behaviour
Rajesh Chandy BA MA (Boston) MBA DBA (Harvard)
Randall Peterson
MBA (Oklahoma) PhD (Southern California) Professor of Strategic and International
BS MA (Minnesota) PhD (University of
Professor of Marketing Management
California, Berkeley)
David Faro Louise Mors
Professor of Organisational Behaviour
MSc (London) PhD (Chicago) MBE (Norwegian School of Management) PhD
Madan Pillutla
Assistant Professor of Marketing (INSEAD)
BE (BITS, Pilani) PGDM XLRI (Jamshedpur)
Bruce Hardie Assistant Professor of Strategic and International
PhD (British Columbia)
BCom MCom (Auckland) MA PhD (Pennsylvania) Management
Professor of Organisational Behaviour
Professor of Marketing Phanish Puranam
Niro Sivanathan
Nirmalya Kumar BE (Delhi) MIB (IIFT, New Delhi) MA PhD
BA MSc (Queen’s) PhD (Northwestern)
BCom (Calcutta University) MCom (Shivaji (Wharton)
Assistant Professor of Organisational Behaviour
University) MBA (Illinois) PhD (Northwestern) Professor of Strategic and International
Stefan Thau Management
Professor of Marketing
MSc (Mannheim) PhD (Groningen)
Anja Lambrecht Markus Reitzig
Assistant Professor of Organisational Behaviour BS (Konstanz) MS (Kiel) MBR PhD (Munich)
Diplom-Kauffrau MS (Goethe University and
Université Paris-Dauphine) PhD (Goethe University) Xi Zou Assistant Professor of Strategic and International
Assistant Professor of Marketing BBA (Lingnan) MPhil (CUHK) MPhil (Columbia) Management
PhD (Columbia) Lourdes Sosa
Kanishka Misra
BA (Cambridge) PhD (Northwestern) Assistant Professor of Organisational Behaviour BS (ITESM, Mexico) PhD (MIT)
Assistant Professor of Marketing Assistant Professor of Strategic and International
John Mullins Management
Strategic and International Management
BA (Lehigh) MBA (Stanford) PhD (Minnesota) Don Sull
Associate Professor of Management Practice in Julian Birkinshaw AB MBA DBA (Harvard)
Marketing and Entrepreneurship BSc (Durham) MBA PhD (Western Ontario) Professor of Management Practice in Strategic
Professor of Strategic and International and International Management
John Roberts
Management Freek Vermeulen
BA MComm (Melbourne) MSc PhD (MIT)
Professor of Marketing Kevin Boudreau MA PhD (Tilburg)
BASc (Waterloo) MA (Toronto) PhD (MIT) Associate Professor of Strategic and International
Nader Tavassoli
Assistant Professor of Strategic and International Management
BA MBA (Syracuse) MPhil PhD (Columbia)
Management
Professor of Marketing
Donal Crilly
Naufel Vilcassim
BA (Dublin City) MBA (Hitotsubashi) PhD (INSEAD)
BSc (Sri Lanka) MBA (Texas) PhD (Cornell)
Assistant Professor of Strategic and International
Professor of Marketing Management

www.london.edu/phd/ 25
“Students are encouraged to engage in research
early in the Programme: my first year supervisor
gave me an opportunity to assist in his project
starting from my second semester. Not only did
I have a chance to learn how things are done
and to have ‘hands-on’ experience, but I was
also encouraged to provide my input for the
development of the study. The fact that faculty
persuade you to submit for publication, even your
early works, greatly fosters self-confidence in your
ability to produce high-quality research. What I
value the most is that they make me feel that they
believe in my success!”
Yvetta Simonyan
PhD2006, Marketing
MBA (Indiana University of Pennsylvania) MS (Yerevan State Medical Institute)

26 www.london.edu/phd/
www.london.edu/phd/ 27
London Business School
Regent’s Park
London NW1 4SA
United Kingdom
Tel +44 (0)20 7000 7000
Fax +44 (0)20 7000 7001
www.london.edu
A Graduate School of the University of London