EDFI – Finance

The EDFI doctoral program in Finance combines the analytical rigor of EPFL with the research excellence of the Swiss Finance Institute (SFI) to train scholars capable of advancing frontier research in finance. The program emphasizes strong foundations in asset pricing, corporate finance, and quantitative methods, and provides close faculty interaction, access to the broader SFI network across Switzerland, and a vibrant, collaborative research environment.

About the program

The EDFI program is part of the Swiss Finance Institute (SFI) PhD program for the Léman area, jointly offered by the University of Geneva, the University of Lausanne, and EPFL. Each year, the SFI Léman program admits a select group of 8 to 15 students, fostering close interaction across institutions and providing genuine international visibility. The first year consists of rigorous doctoral coursework taught by leading researchers from the three universities, offering a comprehensive foundation in the core areas of modern finance – asset pricing, corporate finance, and econometrics & machine learning. In the subsequent research phase, students choose their thesis topic and advisor, take advanced courses offered by SFI and partner institutions, and often spend a semester at a top university abroad to prepare for the international academic job market. EDFI graduates are equipped to tackle complex financial questions with quantitative precision and originality, and consistently place at leading academic institutions, policy organizations, and in the financial industry worldwide.

Applying to EDFI

Applications can be submitted several times a year.

Deadlines: Submission prior to January 15 or March 31 for a single entry in September.

Prof. Erwan Morellec

Our program covers a wide range of subjects including asset pricing, corporate finance, entrepreneurial finance, financial intermediation, and quantitative methods. Over the last few years, our students have been placed either in the industry or in premier academic institutions, such as Harvard University, University of Toronto, Boston College, or Copenhagen Business School.

Prof. Erwan Morellec, Full Professor & SFI Senior Chair

Research

Recent projects highlight both methodological range and practical relevance. Asset-pricing research explores how machine learning can enhance forecasts of returns and risk premia. Corporate-finance research examines how large investors and mega-firms use capital markets to influence strategy and reshape industry dynamics. Entrepreneurial-finance research links valuation theory to the financing of young firms and venture capital. On the technical side, researchers advance models of credit risk, interest-rate dynamics, and systemic risk, increasingly using machine learning for high-dimensional estimation and forecasting.

Alice Eliet-Doillet

When I decided to pursue a PhD in Finance, I looked for excellent faculty, strong research resources, and exposure to both solid foundations and new ideas.

Alice Eliet-Doillet, PhD candidate at the Chair of Prof. Fahlenbrach

When I decided to pursue a PhD in Finance, I looked for excellent faculty, strong research resources, and exposure to both solid foundations and new ideas. Coming from an economics background, I knew I needed a first year of foundational, research‑oriented classes. The Swiss Finance Institute at EPFL provides exactly that. From the first‑year coursework, taken in a small, highly motivated cohort, through to my current final year, the programme has delivered the structure and flexibility I hoped for. Close interaction with faculty, a supportive peer group, and the breadth of training have confirmed I made the right choice. 

EPFL and the SFI have also provided excellent data access and many opportunities to present at conferences, while a steady flow of workshops and seminars brings internationally renowned scholars to campus. Their feedback has sharpened my projects. Throughout, I have received constant, thoughtful support from my supervisor, making this a genuinely formative doctoral experience.

Philippe van der Beck

Coming from a less quantitative background, I enjoyed the rigorously structured first year, which creates a level playing field and essentially enables students to delve into any desired research field in financial economics.

Philippe van der Beck, PhD thesis at EDFI, now Assistant Professor in the Finance Unit at Harvard Business School

The PhD program in Finance at EPFL offers an ideal environment for a flourishing academic career. The finance department is home to the world’s leading professors in their respective research fields. The program’s unique feature, that distinguishes it from other top research schools, is the close collaboration between students and professors. Being part of the Swiss Finance Institute (SFI) further broadens the scope of the program and provides its students with a strong network to leverage their career in academia. It is this strong network and intellectually stimulating environment that attracts highly talented PhD students across the world, causing a self-enforcing culture of excellence.

Coming from a less quantitative background, I enjoyed the rigorously structured first year, which creates a level playing field and essentially enables students to delve into any desired research field in financial economics. I received outstanding support from my supervisor and the entire faculty was exceptionally cooperative in terms of providing feedback and discussing research ideas.

Career prospects

Watch the testimonial

In past years, our students have been placed either in the industry or in premier academic institutions such as Harvard (USA), University of Toronto (CAN), Dartmouth (USA), Boston College (USA), the London School of Economics (UK), HEC Paris (France), Copenhagen Business School (Denmark), or the University of Hong Kong.

For applicants

Further information: how to apply, program details, testimonials

For PhD candidates

Practical information: what you need to know as an EDFI PhD student

People

Who is who: all you need to know about the EDFI community

Upcoming seminars

News highlights from EDFI

Contact

Program Director

Prof. Andreas Fuster

Administration
Lorraine Dupart

[email protected]


EPFL EDFI program
Extranef 214
CH-1015 Lausanne

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