PhD in Accounting

The PhD Accounting Programme

The Department of Accounting has a well-established doctoral programme, training students to undertake research of the highest international standards. The programme enables students to develop the technical, methodological and intellectual skills needed to pursue doctoral research in Accounting and related areas. Given the demanding and intensive nature of the programme, entry is highly selective. We support research in a broad range of subjects, including:  Accounting, organisations and institutions  Management accounting and organisational control  Accounting, regulation and financial reporting  Accounting, governance and risk management  Accounting and public policy; accounting history Doctoral students become members of an integrated community of researchers, interacting and working with some of the leading academics in Accounting. Students join a highly rated researchdriven Department which received a 5*A in the last UK Research Assessment Exercise, one of only two departments in its category to receive this award. The critical and analytical skills that students develop during their research training are useful primarily for those interested in pursuing top-level academic careers. Graduates from the Departments doctoral programme have successfully secured positions with renowned academic institutions. A Stimulating Research Environment Doctoral students benefit from access to a wide range of taught courses and research seminars in the Department and in related departments and research centres within the School (such as the Department of Management and LSE Health). They also benefit from the Departments close relationship with the Centre for Analysis of Risk and Regulation (CARR), an ESRC-funded research centre, which adds significantly to the quality of the research environment. Doctoral students are encouraged, at an early stage in their research training, to participate in appropriate international workshops and colloquia. Students are encouraged to present their work at, or attend, conferences relevant to their area of research. Students are also offered the opportunity to gain teaching experience, with appropriate training, in a way that is complementary to their research. Support is available to research students through the Schools Research Student Unit. The Unit provides dedicated assistance in areas such as research skills and career development. Further information is available on the Research Student website. www.lse.ac.uk/ collections/researchStudents/help WithYourStudies.htm resourced to meet the needs of research students The Department provides its research students with well-equipped, dedicated research space, in shared offices either in the Department or CARR. Research students are provided with a generous photocopy allowance for use on School photocopiers. Research students obviously have access to the LSE Library, one of the worlds leading social sciences libraries, and a major resource for postgraduate research. The Library has additional study space set aside for research students.

ESRC Recognition The Department has gained ESRC recognition for its doctoral training under the +3 system. This allows UK and European students to apply for funding to join the PhD programme after completing a year of recognised masters training at another university. Further details of the +3 system are available on the ESRC website www. esrcsocietytoday.ac.uk

The Programme Structure

The Programme Structure The first year of the PhD Accounting programme consists of a number of research seminars and taught graduate courses. This normally involves students attending the two main research seminars in Accounting in addition to a maximum of three taught graduate courses in areas related to their field of research. The aim is to both broaden and deepen a students understanding of their area. One further course or partcourse may be taken in the second year. Students are required to make a seminar presentation each year, and to attend the Departments Accounting Research Seminars. Students are also encouraged to attend any relevant seminars in related areas in the School. The Courses AC500 Accounting, Organisations and Institutions Consists of weekly seminars held during the Michaelmas and Lent terms where students prepare and discuss a broad range of prescribed readings. Each seminar addresses methodological themes as well as substantive research material. AC501 Seminar in Accounting Research Methods Seminar presentations by students and others on chosen research topics. Taught courses which students have attended in the past include: AC410 Management Accounting, Strategy and Organisational Control AC420 Corporate Financial Reporting AC470 Accounting in the Global Economy ID403 Organisation Theory and Behaviour MI453 Fundamentals of Research Design MI4M1 Foundations of Social Research 1 PH405 Philosophy of the Social Sciences SO425 Regulation, Risk and Economic Life Supervision and Progress Monitoring Doctoral students are supervised by faculty whose research interests are a close fit with those of the student. Each student has a principal and secondary supervisor. Usually, because of the close relationship between the supervisor and their subject area, a PhD student can take the opportunity to develop a solid intellectual relationship with an experienced researcher who is directly engaged with, and interested in, their research progress. The direction and guidance given to the student occurs through frequent student/supervisor meetings and reviews, as well as discussions of relevant academic issues during seminar presentations by faculty and visiting academics. In each year of the programme, students are required to make presentations of their work in a seminar. This provides a source of academic feedback on the students work, and helps them to develop their skills in presentation and discussion. Supervisors and other faculty members attend these seminars. Students initially register for an MPhil degree. After meeting the taught requirements of the doctoral programme and having reached a satisfactory level of progress, they will be considered for upgrade to PhD status. This normally takes place after the student has completed a major piece of work, for example, a substantial literature review, the results of initial field work, or progress with a data set. Student progress is reviewed by the Departments PhD Review Committee which meets twice per year. The Committee receives reports from both supervisors and students, and plays an ongoing role in monitoring the progress of all research students.

The Faculty
Dr Vasiliki Athanasakou Financial reporting practices (earnings management, mandatory/voluntary disclosure), accounting and market regulation, and implications for the financial market. Professor Al Bhimani Management accounting in the digital economy, international comparative strategy and cost management; the sociocultural analysis of accounting systems. Dr Pascal Frantz Securities analysis; the economics of disclosures and auditing. Dr Lisa Goh Financial reporting, disclosure quality, executive compensation and governance. Dr Matthew Hall Management accounting, management control systems and performance measurement; behavioural accounting and professional commitment of accountants. Dr Joanne Horton Issues relating to financial reporting, financial institutions and impacts on financial market participants. Dr Liisa Kurunmki Accounting in the new public sector, with special reference to healthcare. Professor Richard Macve Conceptual framework of financial accounting and reporting; financial reporting in the insurance industry; the historical development of accounting; environmental accounting and reporting; interactions between insurance and environmental management. Dr Andrea Mennicken International accounting and auditing; sociological studies of audit regulation and harmonisation; processes of professionalisation; accounting, economic transition and social transformation in postSoviet Russia; the sociology of calculative practices. Professor Peter Miller Head of Department of Accounting Investment appraisal in new manufacturing environments; accounting and New Public Management; accounting as a social and institutional practice. Dr Yuval Millo Social networks, sociology of financial markets, corporate governance. Professor Michael Power The role of internal and external auditing in the corporate governance process; internal control systems and corporate risk management and regulation; risk reporting and communication. Dr Rita Samiolo Project appraisal, accountability and the environment; Accounting and auditing in public sector reforms; Risk management, internal control and corporate governance. Dr Ana Simpson Voluntary disclosure incentives and consequences; analysts forecast efficiency; earnings management. Dr Kazbi Soonawalla Financial accounting; international accounting; joint ventures; corporate social responsibility. Professor Wim Van der Stede Director of the PhD Programme in Accounting Management control systems: budgeting, performance measurement, and incentive systems; corporate governance: executive compensation, boards of directors, and internal controls.

Research in Accounting
Financial accounting and corporate reporting  European and international dimensions of accounting  Audit and financial regulation  Comparative and historical studies of financial accounting and reporting in different countries  The economics and politics of accounting standard setting and harmisation Management accounting and control  The economic, organisational and social analysis of management accounting systems  Studies of accounting innovation in organisations  Cost management  Performance measurement and incentives  International differences in management accounting and organisational control  Public sector accounting and New Public Management Members of the Department of Accounting also have strong relationships with the profession, working on research projects with professional accounting institutions such as the Chartered Institute of Management Accountants and the Institute of Chartered Accountants in England and Wales, as well as public sector-related bodies such as the Kings Fund. Professor Wim Van der Stede Director of the PhD Programme in Accounting

Professor Peter Miller Head of Department of Accounting

Centre for Analysis of Risk and Regulation (CARR)

The ESRC Centre for Analysis of Risk and Regulation (CARR) is an interdisciplinary research centre at LSE. The Centres core intellectual work focuses on the organisational and institutional settings for risk management and regulatory practices. CARRs wide-ranging remit also involves working closely with government policymakers and business practitioners, as well as advancing programmes to establish national and international scholarship (outreach), and the development of younger scholars working in risk and regulation studies. CARR has rapidly established itself as an international reference point and centre of excellence for risk and regulation studies. CARRs research agenda is defined by three methodological commitments which are consistent with those of the Department of Accounting:  A wide ranging focus on the institutional settings for the regulation of risk;  A comparative focus on a variety of national contexts and cultures;  A comparative focus on overlapping risk-processing-domains (eg, finance, environment, operations; organisationwide risk management; the interaction of different risk regimes; and complex risk). CARRs programme of work consists of a number of discrete projects, each of which addresses one or more of three cross-cutting themes Performance, Accountability and Information; Knowledge, Technology and Expertise; and Reputation, Security and Trust. For further information, go to www.lse. ac.uk/collections/carr

To Apply
Eligibility and Applications The Department has a policy of only accepting students that it genuinely believes are capable of delivering high quality doctoral work. A rigorous admissions policy aims to ensure that only the most committed and qualified students are accepted into the doctoral programme. Entry to the programme is normally conditional on a candidate having obtained a first or upper second class honours degree in a relevant discipline from a British university (or other degree accepted as equivalent). Candidates should have attained a high level of performance in their Masters degree. If you are considering to apply for the PhD Accounting programme, you can contact the PhD Programme Manager for an informal discussion about your application (visit the Prospective Research Students pages of the Departments website for contact details). The Programme Manager will be able to provide advice on the suitability of proceeding to a full application. If, after informal discussions with the Programme Manager, you decide to proceed with an application, you should complete the application form on the Graduate Admissions website www.lse. ac.uk/collections/graduateAdmissions. Applications may be completed either online or by mail. If you decide not to take advantage of the informal discussions, you should proceed directly to the formal application via the Graduate Admissions website. Your application should include an outline of a provisional research topic or areas of research interest. You are encouraged to indentify a member of the Accounting Faculty whose research may be closest to the area of research you are interested in. Candidates interested in seeking ESRC funding (see below) must first make an application for the programme in advance of making their funding application. Funding Your Studies Students from the European Union are eligible to apply for ESRC funding to commence research training. For further information, visit the ESRC website www. esrc.ac.uk The Department also has a Doctoral Scholarships programme to support research students. Initially provided for two years, the Doctoral Scholarship covers tuition fees and a bursary. Funding is normally available for a third year, subject to satisfactory performance. Candidates are considered for these Doctoral Scholarships on application to the programme. Research Centres provide some additional support through research assistantships, enabling doctoral students to work on research within the Research Centres programmes. Funding for PhD students is also available from other sources such as named scholarships and fellowships. Information on fellowships, foundations and scholarships can be found on the Schools Financial Support Office website www.lse.ac.uk/ collections/studentServicesCentre/ financialSupportOffice PhD students are encouraged to undertake paid class teaching on undergraduate courses, enabling them to acquire transferable skills in areas such as communication, understanding and explaining issues and ideas, disseminating information, giving presentations, organisation, prioritisation, teamwork and leadership.

Visiting Research Students Programme in Accounting In addition to the PhD Accounting programme, the Department has a programme that allows a small number of doctoral students registered at other institutions to spend up to a year at LSE as a Visiting Research Student (VRS). A VRS has access to the same research facilities, faculty, seminars and activities as other doctoral students in the Department. To be considered as a VRS, potential candidates have to provide clear evidence of how they intend to use their visit to LSE. The formal application process for the VRS programme is through the Graduate Admissions Office via the Schools online application form, and fees are charged proportionally, according to the length of the VRS stay at LSE. Candidates interested in finding out more about the programme and their eligibility to apply should contact the Graduate Admissions Manager, Dorothy Richards (d.richards@lse.ac.uk) with a copy of their CV and an outline of what they would like to achieve during their time as a VRS in Accounting. This information will be considered by the VRS selection committee and informal feedback given before a formal application is made.

Student profiles
Ashraf Jaffer Completed PhD Accounting 2006 After completing the PhD Accounting Programme, I joined the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill as an Assistant Professor, where I teach managerial accounting. My research focuses on the theoretical issues of incentive compensation design, issues of information asymmetry in capital markets, corporate finance and market microstructure. My thesis, Insider Trading: The Value of Asymmetric Information Created by Using Tradable Securities as Compensation Vehicles, examined incentive problems in organizations created by compensation in tradable securities, especially disclosures of insider trading. Andrea Mennicken Completed PhD Accounting 2004 I joined the Departments doctoral programme in Accounting in 2000 and my thesis investigated the rise, transformation and standardisation of audit practices in post-Soviet Russia. My research involved more than five months of fieldwork in Moscow, where I participated in a Tacis-funded audit reform project and conducted in-depth interviews with auditors, academics, representatives of professional associations and Western consultants. I completed my PhD thesis in October 2004 and in 2005 I joined the Department as a Lecturer in Accounting. Simon Tan Current 3rd Year PhD Accounting Student Before joining the Accounting Group as a PhD student in Accounting, I completed both my BSc and MSc in Accounting and Finance, with specialisation in accounting and financial management, at LSE. The fascinating interdisciplinary approach to accounting research and the highly stimulating academic environment here induced me to stay to pursue my doctoral study. My research adopts a sociological and institutional lens to study sell-side financial analysts behaviour and work. In particular, it focuses on analysts increasing acknowledgement of the importance of values in bearing upon economic value and their activism toward corporate governance and corporate social responsibility issues after the financial scandals in the early 21st century.

Recent PhD Titles in Accounting Ashraf Jaffer Insider Trading: The Value of Asymmetric Information Created by Using Tradable Securities as Compensation Vehicles Andrea Mennicken Moving West: The Emergence, Reform and Standardisation of Audit Practices in Post Soviet Russia Anette Mikes Enterprise Risk Management in Action

The PhD programme gave me the unique opportunity to combine my curiosity for the institutional and social dynamics of accounting with my wider interest in sociological theory and processes of change and transformation
Andrea Mennicken, PhD Accounting, 2004

Contact
Useful Links for Further Information Department of Accounting www.lse.ac.uk/collections/accounting LSE Careers Service www.lse.ac.uk/depts/careers Economic and Social Research Council (ESRC) www.esrc.ac.uk Centre for Analysis of Risk and Regulation www.lse.ac.uk/collections/carr Financial Support Office www.lse.ac.uk/collections/ studentServicesCentre/ financialSupportOffice Graduate School www.lse.ac.uk/collections/ graduateAdmissions For further information on our PhD programme contact: Dorothy Richards Graduate Admissions Manager Department of Accounting The London School of Economics and Political Science Houghton Street London WC2A 2AE Tel: 020 7955 6603 Fax: 020 7955 7420 email: d.richards@lse.ac.uk Taught graduate programmes available in the Department of Accounting MSc Accounting, Organisations and Institutions MSc Accounting and Finance Diploma in Accounting and Finance MSc Law and Accounting