Vienna Graduate School of Finance to receive prestigious FWF doc.funds funding

Jan 18, 2018

The VGSF is an exemplary initiative at WU that was founded in 2005 with the financial support of the FWF Austrian Science Fund and provides graduates with the qualifications for an international academic career. It is offered at WU in cooperation with the Institute for Advanced Studies (IHS) and the University of Vienna. Just this past March, international reviewers rated the PhD initiative as excellent (“It is among the best 5% in the field worldwide”). In December of 2017, the VGSF was one of only seven programs selected to receive funding from the FWF pilot program doc.funds.


The Vienna Graduate School of Finance (VGSF) is a highly successful PhD program. Since its establishment in 2005, all applications for extension of its funding have been approved by FWF, up to the maximum duration of 12 years. To make sure that the ambitious program, held in cooperation with the University of Vienna and researchers from the Institute for Advanced Studies (IHS), can continue after this period, the VGSF faculty applied for funding from the FWF pilot program doc.funds. According to FWF, 45 applications were submitted for this funding program, but only seven doctoral programs were selected. One of these is the VGSF, selected to be a recipient of the highest level of funding the FWF program offers. “We are delighted that the international experts involved in the peer review process for this FWF program have acknowledged the high quality of the VGSF and recommended that this excellent program receive financial support. VGSF’s research work in the field of finance is internationally very well-known and respected. Initiatives like this not only help increase WU’s brand recognition, but also improve Vienna’s reputation as a business location and increase the city’s international visibility,” says WU Rector Edeltraud Hanappi-Egger.

Excellent PhD program with outstanding networking opportunities

The VGSF program offers outstanding students from around the world a well-structured PhD program. “We provide our doctoral candidates with a stimulating learning and research environment, laying the foundations for an international academic career. One key research area focuses on the financial crisis and its momentous consequences. In this area of study, the emphasis is on how new market structures and regulatory legislation could contribute to promoting increased transparency and liquidity in financial markets. In addition to intensive supervision by the VGSF faculty, students also benefit from our international network of top scientists in the field of finance, who regularly visit the VGSF to present their research,” says WU Professor Alexander Mürmann. As a result, VGSF graduates are highly successful in the international job market and are offered academic positions at top universities in Europe (e.g. Bocconi, NHH Norwegian School of Economics, Erasmus University Rotterdam, University of Aarhus), the USA (Georgia Institute of Technology, Carnegie Mellon, MIT), Asia (University of Hong Kong), and Australia (University of New South Wales), or are employed by international consultancies, who are increasingly hiring scientists.