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Business and Finance

  • Inicio
    • Presentation




      Prof. D. José María Marín Vigueras
      University Professor


      About the program


      • Regulated under Spanish Real Decreto 99/2011

      The program aims to train researchers in the Management, Finance, Accounting, and Marketing areas  and promote their career development in prestigious universities and business schools.

      Getting our students in touch with the major problems of business economics provides them with a thorough and updated understanding of companies. Additionally, quantitative methods training allows students to undertake high quality empirical research.


      The Ph.D. in Business and Finance offers four different fields of specialization:

      • Accounting
      • Finance
      • Management
      • Marketing

      The Ph.D. program in Business and Finance is sponsored by the Business Administration department.

      As a general rule, a Master’s degree in Marketing Research, Business and Finance, or Management earned at a prestigious institution is required. The main way to access the program is our English-taught uc3m Master’s degree in Business and Finance.




      Administración de Empresas y Finanzas
    • International Scope
      Gráfico de datos de internacionalización del Doctorado en Administración de Empresas y Finanzas

      Our PhD program is a highly international program.

      Students' country of origin:

      Our students come from a broad range of countries. This is the distribution of the students currently engaged in the PhD.



      We encourage our students to complete research stays from 3 to 6 months at prestigious universities. From 2010 to 2015, our students visited institutions such as: Bocconi University, Boston University, Columbia University, London School of Economics, New York University, The Wharton School, Tilburg University, University of North Carolina at Chapel Hill or Washington University at St. Louis.


      International Mention:

      40% of our PhD graduates from 2010-15 received their PhD title with an International Mention.




      Job Market Candidates:


      • See our list of job market candidates here.


      Job Placement:


      In the last years, our PhD graduates have been placed at Universities and Business Schools such as:

      • Aalto University School of Business, Finland
      • CUNEF, Spain
      • Durham University, UK
      • ESADE, Spain
      • ESCP Europe Business School, UK
      • IE Business School, Spain
      • IE University, Spain
      • IESE Business School, Spain
      • Lancaster University, UK
      • Rennes School of Management, France
      • Skema Business School, France
      • Tilburg University, The Netherlands
      • Universidad Alberto Hurtado, Chile
      • Universidad Autónoma de Barcelona, Spain
      • University College London, UK
      • Universidad de Navarra, Spain
      • Universidade Nova de Lisboa, Portugal
      • University of Antwerp, Belgium
      • University of Bristol, UK
      • University of Glasgow, UK
      • University of Wisconsin, USA

      As well as in prestigious firms and institutions such as:

      • Analistas Financieros Internacionales
      • Arfima Trading
      • Banco Central do Brasil
      • Bank of China, London
      • BBVA Research
      • Honeywell
      • Orkestra - Instituto Vasco de Competitividad
      • Repsol




    Student profile

    Students must have prior postgraduate training in the fields of knowledge specific to the program: Commerce and Marketing Research, Business Finance and Accounting, and Business Organization. A training in quantitative methodology (Statistics and Operational Research, and Quantitative Methods for Business and Finance) is also strongly suggested. They must also have synthesis ability in regards to a particular discipline’s framework, be able to analyze problems from a critical perspective, and pursue new lines of research.

    Additionally, English skills (Cambridge Proficiency level) are required.


    Admission requirements

    As a general rule, applicants to the Ph.D. Program in Business and Finance must have a Bachelor’s degree and a Master’s degree in one of the specific fields of knowledge of the program (Commerce and Marketing Research (095), Business Finance and Accounting (230), and Business Organization (650)) or their respective equivalents from other countries in the European Higher Education Area (EHEA). All  graduate and postgraduate training credits must amount to a total of (at least) 300 ECTS credits, 60 of which must be Master’s degree credits.


    Other applicant profiles may be taken under consideration in exceptional cases:

    • Applicants with postgraduate training in other fields (Mathematics, Physics, or Engineering)
    • Applicants with postgraduate training in the Social Sciences area, in different fields from those of the Business and Finance program, providing valid proof of academic background in Commerce and Marketing Research, Business Finance and Accounting, and Business Organization.

    In all cases, the Academic Committee may require complementary training (up to 20 ECTS credits) in advanced subjects relevant to the line of research pursued by the applicant.


    Admission criteria


    Valid proof of advanced English skills (Proficiency level) shall be required for a student’s candidacy to be considered.

    These are the basic admission criteria and their respective assessment value:

    • Academic background (35%)
    • Suitability of the applicant’s training background (subjects, grades, and language skills) for the Ph.D. program’s lines of research (20%)
    • Research background (publications, seminars, etc.) (10%)
    • Grounds and suitability of the applicant’s interests in regards to the Ph.D. program’s lines of research (35%)


    Documentation requirements for applicants include: updated CV, a copy of previous degrees’ certificates, and thesis project proposal, as well as a motivation letter stating the candidate’s interest in the program and his/her willingness to work on the lines of research of his/her choice. Applicants may also provide one or more recommendation letters endorsing their candidacy by external doctor referees from any university; said letters shall be taken as a measuring tool of the applicants’ commitment to the program. External referees must send these endorsement letters straight to uc3m’s Postgraduate Office at


    Admission criteria and procedures for part-time students will be the same of those of full-time students.



    • Academic Committee


      Prof. José Marín Vigueras
      Department of Business Administration. Director of the Program

      Profª. Neus Palomares Vilches
      Department of Business Administration

      Prof. José Sebastián Penalva Zuasti
      Department of Business Administration

    • Faculty


      The faculty associated to the PhD in Business and Finance as tutors, advisor and professors of our PhD students is a group of highly motivated researchers educated in prestigious schools and with an active publishing record. You can find them in this link.


    Subject-specific training 


    • Specialized research seminars at uc3m: Seminars set in the framework of the program’s research agenda and featuring notable researchers as speakers. (Minimum attendance requirement is 70% of seminars hosted by the Business Economics department, which translates into 25 hours of specialized seminar training).


    • Advanced research courses: Short-term courses on a particular subject relevant to the specific fields of the Business and Finance doctoral training (finance, accounting, marketing, management), featuring notable professors outside the program. These courses have a duration of one week or less. (All students must attend the course pertaining to their respective specialization area every academic year).   


    • Research Meetings hosted by the Business Economics department: Events coordinated and held by Universidad Carlos III de Madrid faculty members on a weekly basis, featuring Universidad Carlos III lecturers and other professors from nearby institutions. (All students must deliver at least two presentations of their research work  in these meetings throughout their doctoral training period).


    • Seminar or simposium attendance: It is mandatory for all Business and Finance students to participate as speaker in at least one internationally renowned conference or simposium relevant to the doctoral student’s field of research.


    Research skills training 

    The Doctoral School hosts a Research Skills Training program addressed to all Ph.D. students consisting of activities such as seminars, short-term courses, etc., focused on career development and scientific and teaching abilities. The program’s Academic Committee may advise students on the convenience of these courses.

    Further information on the Doctoral School’s research skills course offerings for each academic year. 

    • Research Lines


      1.- Accounting: 

      • Financial Accounting/Reporting,
      • Management Accounting

      2.- Finance:

      • Asset Pricing
      • Banking
      • Corporate Finance
      • Corporate Governance

      3.- Management:

      • Corporate Social Responsibility
      • Human Resources / Personnel Economics
      • Innovvation
      • Operations
      • Organizational Behavior

      4.- Marketing:

      • Consumer Behavior
      • Quantitative Marketing
      • Services Marketing
      • Strategic Marketing
    • Scientific results

      Our PhD students publish the chapters of their thesis in the form of research articles in internationally reputed journals. This is a sample of the latest publications coming from the PhD thesis of our former PhD students:




      • Hasman, A., Lopez, A.L., Samartín, M., 2011. Government, Taxes and Banking Crises. Journal of Banking and Finance, 35, 2761-2770.
      • Menozzi, A., Gutiérrez-Urtiaga, M., Vannoni, D. 2012. Board composition, political connections, and performance in state-owned enterprises, Industrial and Corporate Change, Vol. 21 (3), 671-698
      • Groba J., Lafuente J.A., Serrano P. 2013. The impact of distressed economies on the EU sovereign market, Journal of Banking and Finance, Vol. 37 (7), 2520-2532
      • Rodriguez-Moreno M., Pena J.I., 2013. Systemic risk measures: The simpler the better? Journal of Banking and Finance, Vol. 37 (6)
      • Malagón, J., Moreno, D., Rodríguez, R. 2015. Time horizon trading and the idiosyncratic risk puzzle. Quantitative Finance, Vol. 15 (2)
      • Blanco, B., Garcia Lara, J.M, Tribo, J.A., 2015. Segment Disclosure and Cost of Capital, Journal of Business Finance & Accounting, Vol. 42 (3-4)
      • Di Meo, F., 2015. Overinvestment, Subsequent Earnings Management, and CEO Tenure. Spanish Journal of Finance and Accounting, Forthcoming



      • Berrone, P., Cruz, C.; Gomez-Mejia, L.; Larraza-Kintana, M., 2010. Ownership Structure and Corporate Response to Institutional Pressures: Do Family Controlled Firms Pollute Less? Administrative Science Quarterly, 55: 82-113.
      • Berrone, P., Fosfuri, A., Gelabert, L., Gómez-Mejía, L.R., 2013 Necessity as the mother of ‘green’ inventions: Institutional pressures and environmental innovations, Strategic Management Journal. Vol. 34(8): 891-909.
      • Avagyan V., Esteban-Bravo M., Vidal-Sanz J.M., 2014. Licensing radical product innovations to speed up the diffusion, European Journal of Operational Research, Vol. 239 (2), 542-555.
      • Esteban-Bravo M., Vidal-Sanz J.M., Yildirim G., 2014. Valuing customer portfolios with endogenous mass and direct marketing interventions using a stochastic dynamic programming decomposition, Marketing Science, Vol. 33 (5), 621-640.
      • Aksoy-Yurdagul, D. 2015. The Impact of Open Source Software Commercialization on Firm Value, Industry and Innovation, Vol. 22 (1)
      • Avgoustaki, A., 2015. Work Uncertainty and Extensive Work Effort: The Mediating Role of Human Resource Practices, Industrial and Labor Relations Review, forthcoming
      • Slavova, K., Fosfuri, A., De Castro, J. O. 2015. Learning by hiring: the effects of scientists' inbound mobility on research performance in academia. Organization Science, forthcoming.
    • Scientific publications

      Our faculty is very active in research-oriented activities. You can find a selection of the latest outstanding publications of our professors in this link.



    Complete Ph.D. thesis:



    Ph.D. thesis defense and evaluation

    A Ph.D. thesis is a piece of original research in the field of the Program and is meant to prepare the candidate to do independent work in R&D.

    The Doctoral School implements follow up procedures for quality assurance in training, supervision and thesis evaluation.



    *If you started your Ph.D. before February 11, 2011, the final deadline for presentation and defense of a Ph.D. thesis is February 11, 2016  (pdf  Real Decreto 99/2011)


    Requirements for the defense of the Ph.D. thesis in Business Economics and Quantitative Methods


    Approval for the defense of the thesis by the Program is conditional upon the thesis seminar. The seminar will be evaluated by a panel of three members of the relevant department that wil be appointed by the Director of the corresponding department, after consulting with the Program Academic Committee and the thesis supervisor. The panel issues a binding report and approval is necessary for the thesis defense. To allow the student to incorporate the recommendations made in the report, a minimum period of 1 month must be allowed between the Thesis Seminar and the Thesis deposit prior to its defense.

    The thesis consists of original research paper elaborated by the candidate that can lead to at least two articles in journals indexed in the JCR.

    The committees that assess submitted thesis are organized by areas of scientific knowledge.

    • You should know
      Información Práctica de los Estudios de Doctorado


      Our Ph.D. programs focus on the acquisition of skills and abilities required to undertake high-quality research work within the strategic framework and lines of research of the university. Students will be expected to work independently under supervision and guidance of top experts in their fields in order to produce novel, groundbreaking research work in the form of a dissertation.

      The Ph.D. thesis constitutes the expected outcome of the doctoral training, stating the specifics of the research work and results. The thesis must meet the high-quality standards required by the Ph.D. program and be subject to public defense and assessment by an independent thesis committee.

      A favorable assessment of the thesis enables Ph.D. students to request their official Ph.D. degree certificate, issued by the Spanish Ministerio de Educación, Cultura y Deporte. 



      Academic year calendar: October 1 - September 30


        Period Dates


      Open all year Deadline: March 1st for each academic year

      New students can choose when to start their Ph.D. training: 

      • First semester's start date: November 15
      • Second semester's start date: March 30

      Continuing students (second and subsequent years) must obligatorily enroll at the first semester of each academic year.

      Enrollment period for new students:

      • Students starting first semester: September 1 to October 30 
      • Students starting second semester: March 1 to March 31  

      Enrollment period for continuing students:

      • October 1 to October 30 
      Monitoring and annual assessment

      The Academic Committee of each Ph.D. program will assess the progress of Ph.D. students on their research projects on an annual basis.

      Further information on  Monitoring and annual assessment

      June: All Ph.D. students 

      December: Only Ph.D. students whose June evaluation was unfavorable

      Thesis defense

      Students can defend their Ph.D. theses at any time of the academic year (except for August).

      Official enrollment at the time of thesis defense is required. 

      Thesis defense approval - Calendar


    • Procedures
    • FAQ

      Ph.D. Program

      Parque de las Moreras

      What is a Ph.D.?

      It is the period of training and acquisition of skills and competencies that will enable the invidividual to carry out independently and to a high quality standard. To this end, the doctoral training has been organized into programs led by expert in their fields who have a proven track of supervising research and technical projects and theses that have advanced knowledge in their respective fields. Ph.D. students will be part of one of these programs, in which they will develop their doctoral thesis.

      How do I choose a Ph.D. program?

      Each Ph.D. program focuses on a research area, within which the doctoral research projects must be framed. Therefore, when choosing a doctoral program you should carefully consider whether the research area suits your interests, who are the experts involved in the program, as well as the research quality of the doctoral program under consideration. You may want to take a look at recently approved therese and publications by staff and Ph.D. researchers to give you a better idea of the research topics and the quality of the program.

      What are the requirements to apply?

      To apply for entry you must hold a Bachelor's degree and a Master's-level degree. Together, they must be worth at least 300 ECTS credits.

      Further information on specific entry requirements, student profiles and program requirements may be found on the program's website. Please refer to this information before applying.

      How long does a Ph.D. take?

      Full-time Ph.D. candidates have a maximum of 3 years to complete their thesis. Throughout this period, Ph.D. candidates must engage in doctoral training activities under the supervision and guidance of a tutor and a thesis advisor (taking part in research seminars, meetings, attending conferences, etc.) and carry out their research activity as part of their thesis project. An extension may be granted in certain circumstances, up to a maximum of 5 years.

      Is it necessary to take some taught courses?

      Each Ph.D. program may require: taking complementary training credits, specific training (seminars, conferences, meetings, research fellowships; etc). Additionally, all programs require up to 60 hours of training in professional an career development activities.

      What are the fees for Ph.D. programs?

      For full-time enrollment in the autumn term, the following may serve as a guideline:

      • First year tuition: 431€
      • Subsequen years: 398€
      • Professional and career development activities: up to 336€ throughout the length of the program. 
      • Complementary training: if the Ph.D. program requires taking additional credits, fees for those are between 56 and 77 euros per credit depending on whether the subject is laboratory based or not.
      • Thesis defense fee: 143€
      • Degree certificate fee: 230€

      Failure to pay any of there fees will result in dismissal from the program.

      What is the outcome of a Ph.D. degree?

      The outcome of a Ph.D. is a "doctoral thesis", which is the researcher's original contribution to the scientific community. The thesis will be presented as a written dissertation in a format that must compy with the guidelines set by the academic committee and contain all graphic, textual and bibliographic material, as well as arguments, demonstrations and other elements that the academic committee may request. The thesis will also be defended orally at a public event and will be assessed by your dissertation defense committee.

      What qualification will I obtain?

      The approval of the doctoral thesis will allow the indivdual to gain the title Doctor of Philosophy awarded by Universidad Carlos III de Madrid, a qualification that is officially recognized and issued by the Spanish authorities. Candidates may obtain an "International Doctor Mention" to their qualification by adding the required extra activities and merits.

      What is a joint Ph.D. program?

      Exisisting partnerships between universities (Spanish and/or from other countries) allow for joint Ph.D. programs that bring together staff expertise and unite research efforts. The outcome of these programs is a single joint qualification, not multiple ones.


      Application process and entry requirements


      How do I apply for admission to a Ph.D. program?

      Applications must be submitted through the online system of the university.

      There are several guides to help you in the application process. All documentation must be uploaded for the application to be processed by the system. All information provided will be reviewed by members of our administrative and academic staff.

      What supporting documentation do I need to submit?

      The following documentation must be provided for al Ph.D. programs:

      • Copy of passport / National Identity Card
      • Academic transcripts
      • Copy of Master's-level degree certificate
      • CV
      • Research proposal
      • Letter of support from an academic member of staff at uc3m

      Certain programs may require other documentation, such as:

      • Letters of support from experts in the field
      • Evidence of language competence


      What additional documentation do I need to submit if my previous qualifications are from a foreign institution?

      Besides all the documentation mentioned above, you will need to attach an official letter from your home institution stating that the qualification achieved gives access to a Ph.D. in that country.

      I am currently studying a Master's degree. Can I apply?

      Yes, you can. However, you may only receive a conditional offer of admission to a Ph.D. degree program pending results from your Master's program.

      I am applying for financial aid to fund my doctoral studies, what should I do?

      Institutions offering financial aid normally require applicants to provide evidence of their admission to a Ph.D. program. Therefore, we strongly suggest you apply to the program of your choice prior to applying for financial aid.

      What is the application deadline for the Ph.D. programs?

      You can apply at any time. At certain times, application for both the current academic year and the next will be open. However, applications for admission during the current academic year will close on the 1st of March each year, after which date and for a period of time only applications for the following academic year will be accepted.

      By whom and how are applications reviewed?

      Your application and supporting documentation will be carefully reviewed to determine whether they meet all the entry requirements. Afterwards, the academic committee will review the eligible applications according to the selection criteria to decide whether an offer will be made.

      What steps should I follow if I'm admitted to a Ph. program?

      Candidates must submit originals or official copies of all supporting documentation, follow the enrollment instructions and pay the applicable fees. Upon enrolling on the program, candidates must choose a start date for their Ph.D. program: in the first semester (November) or in the second semester (March). The duration of the program will be calculated from that date onwards. Failure to follow this procedure and enroll on the program will result in withdrawal of your offer.



      Doctoral training scholarships

      Campus Getafe

      What aid is available?

      There is a wide range of pre-doctoral scholarships that cover tuition fees (part or all of them) and may on occasion allow uc3m to offer the candidate a work contract as a research assisstant.

      Who offers financial aid for Ph.D. programs?

      The following is a list of the most common pre-doctoral scholarships:

      • Research scholarships awarded by the Ministry of Innovation, formerly known as FPI scholarships: ("Formación de Investigadores del Ministerio de Innovación")
      • Research staff training program, scholarships awarded by the Ministry of Education, formerly known as FPU scholarships: ("Formación de Profesorado Universitario del Ministerio de Educación)
      • Uc3m research scholarships: awarded by individual departments within the university.
      • La Caixa scholarships: pre-doctoral scholarships awarded by La Caixa bank.
      • Regional Schemes: Scholarships awarded by regional authorities in Spain.
      • Fundación Carolina scholarships (for LATAM students)
      • Other

      How and when should I apply?

      Each awarding body has its own deadlines, application process and selection criteria. 
      Besides applying for financial aid, you must submit an application to the uc3m Ph.D. program of your choice, since awarding bodies will require you to provide proof of acceptance to a Ph.D. program during the application process.

      Do I need to hold an offer of admission from a university to apply?

      It is not a initially necessary for most of the examples of scholarships listed above, but you must apply to a program (check with uc3m and/or the awarding body on how to proceed) later on in the application process. If you are offered financial help, you will be required to have been admitted and enrolled in a program in order to accept the scholarship and formalize the research assisstant contract at uc3m.

      Where will I conduct my research if I am successful?

      It will be carried out as part of the Ph.D. program in which you enroll, under the supervision of the tutor and advisor who will be assigned to you. You will conduct your research and teaching activity at the department or institute where your contract is bases.

      Who will manage the scholarship if I am successful?

      Scholarships and grants are normally managed by uc3m even if awarded by an independent  body. Uc3m will follow the guidelines of the awarding body as well as its own.

      If I am successful, to whom should I communicte the results of my work to justify my doctoral research?

      All Ph.D. candidates at uc3m are required to report back annually to their academic committee about their research actitivity. The report will form the basis for assessing the progress made by the researcher each year. Additionally, Ph.D. candidates in receipt of a grant or scholarship will also have to report back to the awarding body on their research activity.


      Further information about  Doctoral Training Scholarships


      When should I enroll?

      During your first year, the enrollment period is September 1st to October 30th (or March 1st to March 31st if you've chosen to begin your program in the second semester). In subsequent academic years, you must re-enroll from October 1st to October 30th.

      What courses/credits should I enroll in?

      If your offer of admission was conditional to taking some complementary training, you must enroll in those modules.
      Additionally, you must complete, throughout the length of the program, 60 hours of training in professional and career development, for which you must enroll in suitable modules. You must also folow any guidelines in your doctoral program that may require to undertake specific training,

      What are my rights and obligations once I have enrolled?

      Please refer to the following documentation issued by the regional authorities and by Uc3m. All of them apply to Ph.D. candidates at Uc3m.

      • The Student Statue of the Region of Madrid ("Estatuto del estudiante e la Comunidad de Madrid")
      • The University's Rights and Obligations of Students ("Carta de los derechos y deberes del estudiante en la Uc3m")
      • The Doctoral School's Academic Regulations ("Reglamento de la Escuela de Doctorado de la Uc3m")
      • The Doctoral School's Code of Conduct ("Código de buenas prácticas de la Escuela de Doctorado de la Uc3m")

      You will have access to the university's student and researcher's support services.

      When does my Ph.D. program officially start?

      Upon enrollment, you will be asked to choose to start your doctoral program either in the first semester (November) or in the second semester (March). This date will be used to set the assessment  periods throughout the duration of the course, as well as the dealine for completing your studies.
      If you choose to begin your doctoral training  int the second semester, you will be entitled to pay a reduced fee for that academic year.

      Is the program full-time or part-time?

      In general, Ph.D. candidates will work full time towards their degree. Under certain circumstances, the academic committee may authorize a part-time basis upon making an offer to a candidate or during the course of the program due to unforseen circumstances. A reduction of tuition frees will also be applied in these cases.

      The Program of Studies

      Biblioteca María Moliner

      What is the role of my tutor and my thesis advisor?

      Once the department has offered you a place in their program, you will be assigned a tutor (a lecturer at Uc3m with ties to your program), who will support you in your academic progress and serve as a link to the academic committee. Within six months of the start of the doctoral program you will be assigned a thesis advisor (or advisors), who may not be the same person as your tutor and may not be a member of the academic community at Uc3m. Both your tutor and thesis advisor will be well-established researchers with a long track of research experience. They will keep up to date with the progress of your thesis and training activity, and they will take part in the annual assestment of your academic progress.

      What is the Written Agreement?

      At the start of your doctoral training, you and all the parties involved in your Ph.D. thesis supervision (tutor, advisor, director and academic committe) will be asked to sign a document declarng that they have read and understood the necessary information concerning the monitoring and assessment of doctoral research, as well as detailing specific aspects that may exist pertaining the execution of the doctoral research, such as confidentiality requirements or the interllectual/industrial property management of the results.

      How long should a Ph.D. last?

      The maximum length of Ph.D. studies will be three years on a full-time basis. The academic committee may grant an extension for up to another two years. Part-time students will have five years to complete their doctoral studies, which may be extended by another three in certain cases.

      Research plan and thesis project

      You will have submitted a "research proporal" in order to gain entry to a program. However, once you have enrolled, started your training and before the end of your first year, you must draw up an Initial Research Plan for your thesis project. This plan will have to be approved by your tutor, thesis advisor and the academic committee within that first year. Each academic year, you will be required to provide an update on your research plan with the objective that all parties involved may know of and be able to assess your progress.

      How should the results and progress of my doctoral research be formally presented each academic year?

      At specific times during each academic year, you will have to submit reports covering the progress of your research project, the actitivities undertaken and the results obtained in your research. This information will be reviewed and assessed by the academic committee, who will eventually issue an assessment report on your research progress (using the knowledge of your tutor and advisor's prior assessment).

      You will be specifically asked to provide the following information in an appopiate format:

      • Research Plan (initial or revised): to be uploaded onto the doctoral management intranet.
      • Research activity and results in the last 12 months (unless in the first year, when only 7 months will have gone by): you eill register and document on the doctoral management intranet each activity carried out, so that they may be reviewed and considered by your tutor, director and the Academic Committee of the Ph.D. Program.

      This information will become part of your doctoral student record on Uc3m's intranet, to which only you, your tutor, advisor and the academic committee will have access.

      I want to apply for a doctoral stay abroad. What should I do? How can I obtain financial aid? How will the stay be considered as part of my doctoral training?

      You will need to plan your research fellowship abroad together with your tutor and advisor, as well as requesting the approval of the academic committee. You will need to provide details on the length of the stay, the person in charge or tutor, at the host institution and your intended plan of work. Upon your return, you will have to write a report on the results obtained, which must be approved by your tutor/advisor at the host institution. Your tutor, thesis advisor, and the academic committee will then assess the report as part of your doctoral training.

      A doctoral stay of at least 3 months in duration at a research center relevant to your doctoral program may enable you to add an "International Doctor Mention" to your title. If your require financial aid to support yourself during the stay, you may apply for a grant within your program at Uc3m. The Ministry of Education also awards grants under its "short-stay research fellowship program" ("Programa de estancias breves de investigación").

      The Thesis

      Biblioteca Carmen Martin Gaite

      I'm almost ready to submit my dissertation. What steps do I need to follow?

      Your dissertation is the written result of your doctoral research. It should detail all research undertaken, results obtained and conclusions arrived at. Your tutor and thesis advisor must approve the dissertation prior to initiating the submission and thesis defense procedures. 
      Once the tutor and thesis advisor have given their approval, the thesis will normally be submitted for approval by the academic committee, which may require further criteria to be met, such as providing reports by reviewers, evidence of having presented at research seminars or complicance of research quality to international standards. Once the academic committee issues a favorable report on the thesis, arrangements for the thesis defense a a public examination presided over by the dissertation defense committee (examiners will normally be external to Uc3m) will be made.

      I have received approval for public defense of my thesis. What deadlines and steps to follow do I need to take into account?

      Once your tutor, thesis advisor and the academic committee have approved the thesis for its defense at a public oral examination, a period of at least 8 weeks (as long as it does not overlap with the university's holiday perior) will ensue before the final thesis defense at the public examination. The following steps will take place during this period:

      1. Submission of the dissertation (thesis deposit) for public review by the academic community at Uc3m (three weeks).
      2. Authorization for thesis defense and appointment of dissertation defense committee = by the Dean of the Doctoral School (two weeks).
      3. Arrangements for the viva (three weeks):
      4. Thesis defense.


      What is the thesis deposit?

      Every dissertation must be electronically deposited on the university's intranet (closed source). This step facilitates Uc3m academic members of staff within the research area of the topic of the dissertation access to it so they may review and comment on it. This is a measure implemented to increase tranparecny within the academic community. The dissertation will be publicly available on the university's intranet for 15 natural days, excluding the month of August. After this period, any comments received will be fowarded to the Ph.D. candidate and to the academic committee.

      Who determines the outcome of my thesis defense and who will assess my doctoral thesis?

      Once the dissertation has been publicly available for scrutiny by the academic community at the university, the academic committee, with the approval of the tutor and the thesis advisor, will forward the recommendation to the Dean of the Doctoral School, alongside a list of proposed names for the dissertation defense committee. Finally, three experts in the research area (the dissertation defense committee) will assess the doctoral thesis. At least two of these three experts will be external to the academic community of uc3m.

      What do I need to present at the start of the thesis defense process?

      You must have the following ready:

      • Dissertation (electronic and hard copies) + Title Page
      • CV
      • Electronic publishing agreement (e-archivo_uc3m file)
      • TESEO index card. Details published in the databases of the Ministry of Education, Culture and Sport (MECD)
      • Electronic dDeposit and aAccess dDeclaration fForm (for dissertation public access by members of the academic community at Uc3m). 

      Once the 15-day deposit period is over, you must obtain approval from your tutor and thesis supervisoradvisor to proceed to the thesis defense, as well as a list of proposed members of the dissertation defense committee. This list will need to be approved by the academic committee and the Dean of the Doctoral School, and must be accompanied by:

      • CVs of the proposed examiners.
      • A complete report detailing all activity pertaining to the candidate’s doctoral research activity and a copy of his student record (obtained from the university’s doctoral intranet).

      If you wish to obtain the ‘International Honorable Doctor Mention’, you will need to present relevant documentation for justification.

      Do I need to pay a fee and be enrolled at the university for the viva examination?

      You must pay the thesis defense fee and be enrolled at the university in the academic year in which the public defense of the thesis will take place.

      Who and how is the thesis defense organized?

      Once you have received all the required approvals and an dissertation defense committee has been appointed, the Secretary of the Committee will set a date for the public defense of the thesis. Uc3m will be responsible for managing the logistics of the event (booking a lecture theatre, preparing material and equipment, etc.), as well as making travel and accommodation arrangements for the members of the dissertation defense committee.

      How does the dissertation defense committee assess the thesis?

      The Examiners will receive a copy of the dissertation 15 days prior to the viva examination.

      After the candidate has presented his thesis to the public, the dissertation defense committee will have some time to make comments and ask the candidate questions.

      The dissertation defense committee will complete a joint report and make a recommendation.

      Finally, the dissertation defense committee will individually and secretly record their recommendation for cum-laude honor.

      How do I obtain my degree certificate?

      Degree certificates are issued by the Ministry of Education, Culture and Sport of Spain. You will need to request your certificate from the Ministry and pay the corresponding fee at uc3m.

      The official award of the title of Doctor at uc3m may take between 18 and 24 months from the thesis defense to be issued by the Ministry of Education, Culture and Sport. However, you may obtain a certificate that you have successfully completed your doctoral training once you have completed the thesis defense.

      Where are dissertations published?

      An open source electronic version of all theses will be published on uc3m’s website, Copies will also be available on the thesis repository of the Ministry of Education, Culture and Sport, If your dissertation is affected by partial and/or temporary restrictions on some or all of the material to be published, you must supply documentary evidence to support your case and request that an edited version of your dissertation be published or that access to your dissertation be restricted temporarily.

      Glossary of terms

      Doctoral program

      This refers to the array of training and research activities designed to help you gain the necessary skills and competencies required to be a Doctor of Philosophy. The aim of each program will be to help develop the Ph.D. researcher’s skills in the various training areas of expertise. It will also establish the research areas and methodological procedures under which the doctoral theses will be developed.

      Academic Committee

      The convener/director of the program and two other members of academic staff will constitute the academic committee, which is the body responsible for the various training areas within the program, as well as research progress. It also authorizes thesis submission and defense of each of the Ph.D. candidates in the program.

      Doctoral School

      The academic body that manages all Ph.D. programs across the university.


      An original piece of research carried out by a Ph.D. candidate in any area of knowledge. It is presented as a written dissertation that will follow the format and content guidelines set by each individual doctoral program. It will also meet the quality standards required by the program for its defense at the public oral examination.


      Upon admission to a doctoral program a tutor will be appointed, who will be responsible for ensuring the candidate’s training progress, as well as serving as a communication link between the researcher and the academic committee. He or she will be an academic member of staff at Uc3m with a proven track record of research.

      Thesis advisor

      He or she will be an expert in the field, not necessarily attached to Uc3m and will be responsible for ensuring the candidate’s progress of his doctoral research. The advisor is appointed within the first six months of the program. There may be more than one advisor. A thesis advisor attached to Uc3m may also take the role of tutor.

      Specific training

      This refers to the collection of subject specific activities designed, offered and required by each doctoral program within its research area (seminars, postgraduate conferences, conferences/dissertations, student mobility, etc.) with the objective of equipping the Ph.D. researcher with the knowledge, advice and necessary opportunity for debate to aid and support his doctoral research.

      Professional and career development

      This refers to the collection of core training activities common to all doctoral programs that are designed to help students acquire a range of transferable research skills that will help them progress in their doctoral research and teaching activity. Students are required to engage in at least 60 hours of training in these skills throughout their program. The student will need to enroll in these courses separately.

      Complementary training

      When the academic committee makes an offer of admission to a program they may deem it necessary that the student takes complementary course credits (no more than 40 ECTS) to supplement their qualifications. Enrollmentin these credits will be required on top of enrollment in a Ph.D. program.

      Research plan

      This is a document detailing the student’s research project plan for completing his doctoral thesis that must be drafted within the first six months of training and must be approved by tutor, thesis advisor and the academic committee. The research plan must be revised annually and any developments communicated for monitoring and assessment purposes.

      Annual Ph.D. Activity report

      A document to be drafted annually, in which the student summarizes all relevant training activities undertaken and any preliminary results obtained. The tutor and the thesis advisor, as well as the Academic Committee must approve the updated version of the report annually. Finally, the student must keep a record of his training activity and the results of his research on the university’s intranet.

      Student record

      Uc3m keeps a record of all academic activity undertaken by the student. This includes any academic activities the student has participated in, as well as any courses the student has taken and that have been assessed by Uc3m. The record will be considered in conjunction with the thesis during the examination process at the end of the program.

      Academic transcript

      An official document signed by the Registrar at the Doctoral School that certifies all the information contained in the student’s record.

      Follow up and assessment

      Ph.D. candidates must submit a written report to Uc3m annually outlining their progress during the preceding year. The report should cover both work completed and training undertaken during the year. Students will be assessed by the academic committee on the basis of these reports.

      Written Agreement

      At the start of the doctoral training period, the Ph.D. candidate and all the parties involved in his/her thesis supervision (tutor, advisor(s), and Academic Committee must sign this document.. The written agreement details the roles of all parties involved (student, tutor, advisors and the academic committee) and sets any specific regulations that may affect each program, including issues pertaining to confidentiality agreements, copyright or use and distribution of the results obtained in your research, as well as conflict resolution procedures.

      Thesis deposit

      The university has established an electronic thesis deposit system to facilitate public access to theses produced by students, especially from individuals in the academic world, with the aim that others may comment on them and they may provide opportunities for further research. All research students are required to deposit their theses, normally through the university’s intranet.

      Thesis defense / viva (“viva voce”) examination

      The viva is a public event at which the doctoral candidate will present his research for assessment by the dissertation defense committee. The candidate will present his work, followed by a question and answer session led by the dissertation defense committee.

      The Dissertation Defense Committee

      The dissertation defense committee consists of three experts with proven track records of research in the field of the thesis, and who will preside over the thesis defense. In most cases, they will be external to Uc3m. The committee will make a decision on the grade to be given the thesis and whether to award the cum-laude qualification.

    • Itinerary
      Itinerario Estudiante de Doctorado
    • Contact
      Bienvenida Universidad Carlos III de Madrid

      For further information:


      • Getafe Campus Graduate Information Office:

                    Edificio Carmen Martín Gaite, Despacho 18.0.A15
                    Telf: 91 624 89 73
                    C/ Madrid, 126
                    28903 Getafe - Madrid

    • Presentation

      Ph.D. in Business and Quantitative Methods

      Conforming to Spanish Real Decreto 99/2011, from the academic course 2012-2013



      Prof. José María Marín Vigueras

      Catedrático de Universidad


      About the program:

      The mission of the program is to train researchers in the areas of Management, Finance, Accounting, Marketing and Statistics-Econometrics and enable them to develop their careers in prestigious universities and business schools. Familiarizing students with a thorough and updated understanding of companies. Training them in quantitative methods allows them to conduct high quality empirical research.








      Doctorado en Economía de la Empresa y Métodos Cuantitativos
    • Academic Committee


      Prof. José Marín Vigueras
      Department of Business Administration. Director of the Program

      Profª. Neus Palomares Vilches
      Department of Business Administration

      Prof. José Sebastián Penalva Zuasti
      Department of Business Administration

    • Research

      A continuación se presentan las líneas de investigación del Programa de Doctorado en Economía de la Empresa y Métodos Cuantitativos:


      1.- Management and Marketing

      • International marketing research, modelling and firm competitiveness
      • Innovation, organizational behavior, and strategic management

      2.- Finance and accountability

      • Empirical accounting research and corporate governance
      • Financial Economics

      3.- Statistics

      • Statistical models and data analysis
      • Financial and macroeconomic prediction and analysis
      • Non-parametric methods and intensive computation in statistics
    • Thesis Defense

      Completed Ph.D. theses



      Ph.D. thesis defense and evaluation

      A Ph.D. thesis is a piece of original research in the field of the Program and is meant to prepare the candidate to do independent work in R&D.

      The Doctoral School implements follow up procedures for quality assurance in training, supervision and thesis evaluation



      *If you started your Ph.D. before February 11, 2011, the final deadline for presentation and defense of a Ph.D. thesis is February 11, 2016 (see Real Decreto 99/2011)


      Requirements for the defense of the Ph.D. thesis in Business Economics and Quantitative Methods


      Approval for the defense of the thesis by the Program is conditional upon the thesis seminar. The seminar will be evaluated by a panel of three members of the relevant department that will be appointed by the Director of the corresponding department, after consulting with the Program Academic Committee and the thesis supervisor. The panel issues a binding report and approval is necessary for the thesis defense. To allow the student to incorporate the recommendations made in the report, a minimum period of 1 month must be allowed between the Thesis Seminar and the Thesis deposit prior to its defense.


      The thesis consists of original research paper elaborated by the candidate that can lead to at least two articles in journals indexed in the JCR.

      The committees that assess submitted thesis are organized by areas of scientific knowledge.