Ph.D. in Finance

1. List of Academic Staff

Name	Status and Qualification	Research Interests
A. A. Abdurraheem	Senior Lecturer & Ag. Head of Department B.Sc. (Ibadan); M.Sc. (Ago- Iwoye);  Ph.D.  (UUM, Malaysia); FCA	Banking, Risk Management, Financial Management, Islamic Banking and Finance
M. A. Ijaiya	Professor B.Sc.,    M.Sc. (BUK, Kano); Ph.D. (Ilorin)	Microfinance and Rural Finance Management,           International Finance
I. B. Abdullahi	Professor B.Sc.    (Ilorin);    M.Sc.    (BUK, Kano); Ph.D. (Ilorin)	Corporate Finance, Banking Theory and Practice
M. A. Ajayi	Reader B.Sc.    (EKSU, Ekiti); MBA, M.Sc., Ph.D. (Ilorin)	Microfinance,  Lending and Financial Administration
Rihanat. I. Abdulkadir	Reader B.Sc., MBA (Ilorin); M.Sc. (BUK, Kano);    Ph.D.   (UUM Malaysia); FCIB	Corporate Finance, Practice of Banking, Financial Market
Oyebola. F. Etudaiye- Muhtar	Senior Lecturer B.Sc.,   MBA    (Ilorin),    M.Sc., Ph.D. (Malaya Malaysia); HICB	Corporate Finance, Development Finance, Banking
A. T. Jimoh	Lecturer I B.Sc., M.Sc., Ph.D. (Ilorin)	Islamic  Finance  and  Banking, Corporate Finance
Biliqees.                     A. Abdulmumin	Lecturer I B.Sc.,    M.Sc.    (Ilorin);    Ph.D. (KWASU, Malete); ACIB; ACS	Development Finance, International  Finance, Microfinance
*A. Jimoh	Professor B.Sc.   (ABU,   Zaria);  M.   A. (Queens, Belfast); Ph.D. (OAU, Ile-Ife)	International Finance, Applied Econometrics, Banking and Finance
*Sidikat L. Adeyemi	Professor B.Sc.,    MBA    (ABU,    Zaria); Ph.D. (Ilorin)	Strategic                 Management, Operations Management
*J. O. Adeoti	Professor B.Sc.    (ABU,    Zaria);    MBA, M.Sc., Ph.D. (Ilorin)	Finance and Marketing
*Umar Gunu	Professor B.Sc. (UDUS, Sokoto); MBA, M.Sc., Ph.D. (Ilorin)	General Management Human Resources               Management, Entrepreneurship and Business Policy

*A. S. Kasum	Professor B.Sc.    (BUK,    Kano);    M.Sc., Ph.D. (Ilorin); ACA	Taxation,                  Management Accounting, Auditing and Public Accounting
*Olubunmi F. Osemene	Professor B.Sc.    (OAU,    Ile-Ife);    MBA (LAUTECH,           Ogbomoso); M.Sc., Ph.D. (Ilorin); ACA	Cost Accounting, Tax and Management Accounting, Small Scale Business
*T. A. Olaniyi	Professor B.Sc., M.Sc., Ph. D. (Ilorin); ACA	Management             Accounting, Financial                 Management, Quantitative Techniques
*Khadijat A. Yahaya	Reader B.Sc.    (BUK,    Kano);    M.Sc., PGDE, Ph.D. (Ilorin); ACA	Financial Accounting Auditing and Taxation
*A. A. Kilishi	Reader B.Sc., (Ilorin); M.Sc.,       Ph.D. (Ibadan)	International              Economics, Econometrics.

*Lecturers from other departments

B.                   Introduction

The programme is designed to meet the manpower needs of the country. The knowledge acquired should enhance the graduates‘ prospects of gaining employment not only in the banking and finance sector but also in other sectors of the economy.

C.                 Philosophy

The philosophy of the programme is designed at producing postgraduate students with adequate theoretical and practical knowledge sufficient to enhance their research capability and to prepare them for academic positions in universities, other tertiary institutions and the economy as a whole. It is also to enable students to meet challenges in both public and private sectors of the Nigerian economy.

D.                   Aim and Objectives

The aim of this programme is to produce manpower needs for both private and public sectors of the economy.

Objectives:

1. develop prospective academics and researchers and financial analysts by broadening the intellectual and research capabilities of the students;
2. develop critical thinking skills in logical reasoning and critical analysis      and improve the capacity of students in formulating sound financial policies and strategies; and cope with banking and financial management positions in both private and public sectors of the Nigerian economy.

E.                   Admission  Requirements

The candidates are required to possess the following:

1. Five ―O‖ Level Credits passes or its equivalent subjects including English Language, Mathematics, Economics and any other two from Accounting, Business Methods, Commerce, Government, Geography and Statistics.
2. M.Phil. degree in Banking and/or Finance from University of Ilorin or any other recognised university.
3. M.Sc. degree in Banking and/or Finance with at least an average of B grade (60%) from the University of Ilorin.
4. Candidates must sit for qualifying examination and score 60 percent (60%) in the qualifying examination.
5. Candidates with M.Sc. degree in Banking and/or Finance with at least an average of B grade (60%) from any other recognised university will in addition to satisfying (i) above, be admitted. Candidates may, subject to satisfactory performance at the M.Phil./Ph.D. level be admitted to the Ph.D. degree.

F.                 Duration of the Programme

i. The full-time programme shall run for a minimum of 36 calendar months and a maximum of 60 calendar months.

ii. The part-time programme shall run for a minimum of 48 calendar months and a maximum of 72 calendar months

G.                  Detailed Course Description

FIN 901 Advanced Theory of Corporate Finance                                                 3 Credits

Conceptual foundations of funds allocation among assets and assets classes. Effects of various corporate financial policy decisions on the value of the firm. Effects of taxes. Bankrupting costs. Agency costs on these decisions. 45h (T); C

FIN 903 Advanced Theory of Financial Intermediation                                       3 Credits

Advanced and theoretical treatment of selected topics. Empirical analysis and proffering future directions of research with seminar papers prepared and presented on specific topics. 45h (T); C

FIN 904 Advanced Research Methodology                                                            3 Credits

Advanced research techniques. Advanced research designs. Qualitative and quantitative methods of research. Advanced measurement scale. Multidimensional scaling. Complex sampling approaches. Meta-analysis. Structural equation modeling. Conjoint analysis. 45h (T); C

FIN 905 Advanced Quantitative Decision Techniques                                          3 Credits

Advanced quantitative techniques for decision-making. Quantitative methodologies in business: export, commerce and international business. Multivariate statistical methods. Optimising techniques and stochastic models. Application of time series. Inbox number. Other vital statistics to issues in business studies. 45h (T); C

FIN 906 Empirical Investigations in Finance                                                        3 Credits

Market efficiency tests. Term structure theory test. Test of asset pricing models. Test of divided policy and financial structure issues. Topics focus on statistical and methodological problems encountered in empirical research in related areas of economics and accounting. 45h (T); E

FIN 908 Contemporary Issues in Finance                                                              3 Credits

Emerging issues in theoretical and empirical literature in Finance. Financial globalisation. Financial inclusion. Euro currency market. Risk-return trade-offs in capital market should be emphasised. 45h (T); E

FIN 909 Advanced Portfolio Theory and Management                                        3 Credits

This course provides an advanced treatment of investment portfolio theories; computer enhanced models used to provide instruction in capital asset portfolio management and technique. Advanced treatment of diversification theories and applications in asset selection, analysis, and management and risk management are extensively discussed. 45h (T); C

FIN 910 Ph.D. Seminar in Finance I                                                                       3 Credits

Candidates will be required to make a seminar presentation.   Each student will be required to produce a manuscript in the usual journal format on the topic under investigation. For these candidates, a sound literature review and development of relevant mathematical models or techniques of analysis related to their research topics will be acceptable. 45h (T); E

FIN 912 Seminar in Finance II                                                                                3 Credits

Candidates will be required to make at least two seminar presentations. First seminar presentation is the thesis proposal if the approved proposal is completed. Second seminar presentation will emphasise the actual results of the students research work. 45h (T); E

FIN 914 Empirical Investigations in Banking                                                       3 Credits

Market efficiency tests. Term structure theory test. Market structure, and financial structure issues. Statistical and methodological problems encountered in empirical research in related areas of finance, economics and accounting. 45h (T); E

FIN 916 Contemporary Issues in Banking                                                             3 Credits

Emerging issues in theoretical and empirical literature in Banking. Globalisation of banking. International banking structure. International banking activities. Funds for international bank lending. 45h (T); E

FIN 918 Ph.D. Seminar in Banking I                                                                      3 Credits

Candidates will be required to make a seminar presentation.   Each student will be required to produce a manuscript in the usual journal format on the topic under investigation. For these candidates, a sound literature review and development of relevant mathematical models or techniques of analysis related to their research topics will be acceptable. 45h (T); E

FIN 920 Ph.D. Seminar in Banking II                                                                    3 Credits

Candidates will be required to make two seminars presentations. First seminar presentation is the thesis proposal if the approved proposal is completed. Second seminar presentation will emphasise the actual results of the students research work. 45h (T); E

FIN 922 Ph.D. Research Seminar                                                                            3 Credits

Candidates are here required to make at least two well researched seminar presentations. First presentation is the thesis proposal if the approved proposal is completed. Presentation will emphasise the actual result of the students‘ research work. 45h (T); E

FIN 999 Thesis                                                                                                           12 Credits

student will present final thesis to the board of examiners consisting the head of department, postgraduate coordinator, internal examiner from related department, representative of the dean of the postgraduate school and the external examiner. 540h (P); C

Graduation Requirements

A candidate for the Ph.D. in Finance degree shall prepare and submit a Thesis which shall encompass his or her original research carried out that makes definite contribution to scholarship. Students must have taken and passed 27 credits (six core courses) and 9 credits (one course and two seminars from area of concentration) with a score of not less than 60%. If a candidate scores less than 60%, he/she will terminate with M.phil. Candidate must also have presented and defended the protocol seminar and post-field seminar to the satisfaction of a panel of internal examiners. The final Thesis must have been assessed and found satisfactory for the award of Ph.D. in Finance degree by a panel of five (5) including an external examiner.

I.   Summary Core Courses

FIN 901 (3); FIN 903 (3); FIN 904 (3); FIN 905 (3); FIN 909 (3); FIN 999 (12)      =27 Credits

Electives Courses

FIN 906 (3); FIN 908 (3); FIN 910 (3); FIN 912 (3);    FIN 914 (3); FIN 916 (3);    FIN 918 (3);

FIN 920 (3);  FIN 922 (3);  FIN 906 (3)                                         Minimum of 9 credits

TOTAL                                                                                                                     36 Credits