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PhD in Accounting and Business Administration (Vitória)

Level: Graduate Degree
Degree: PhD in Accounting and Business Administration




¬ Prof. Aridelmo Teixeira

PhD in Controllership and Accounting from the University of São Paulo (USP)


For more information about the PhD program, please contact our consultants via phone +55 27 4009 4425 or e-mail (cursos@fucape.br).


Others Doctor‘s Degree Programs


Over the years since the implementation of FUCAPE’s master’s degrees programs in business administration and accounting, there has been synergy between the main research areas and the lines of research of each program, which emerged naturally from the interrelation between the researchers/professors and students.


The implementation of FUCAPE’s PhD degree program occurred due to the following reasons:

a) maturation and consolidation of FUCAPE’s projects at the master’s degree level;

b) the strong synergy developed between the faculty of the two programs;

c) the qualitative and quantitative improvement of the groups of researchers working in the Institution; and

d) the full engagement of the graduate programs’ professors with the undergraduate programs.


The PhD Program in Accounting and Business Administration will have as its main area of research “controllership and finance”, with two lines of research – “accounting and strategic management” and “finance and business valuation”.


The aim of the PhD program is to train professionals with high level of analytic and reflection capacity, to work in education, research and management of Brazilian public and private organizations. This is the fourth PhD program focused on accounting in Brazil and the 26th if the accounting and business administration areas are considered together.


The main area of research – controllership and finance – was conceived under the philosophy excellence and knowledge advancement in this area will be achieved only with the application of economic theory, with the support of projection instruments, to the real problems of accounting and business administration. Research will have an empiric focus based on the understanding that quality research in this area should explain the behavior of reality, rather than prescribing it. For such purpose, there is a set of mandatory and optional subjects offering reflective, diversified and updated knowledge on the use of the most modern concepts and methods of controllership and finance with regional, national and international scope, in addition to useful information on the technological advances and the changes in the world economy and their impacts on the management of organizations.


The mandatory disciplines are divided into Instrumental and Methodology. After concluding the Instrumental and Methodology subjects, students will take an exam comprising all the content already taught. In case the student fails to be approved (at least 70% score), he/she will be dropped from the program. This exam can be replaced by an acceptance letter issued by an international institution of excellence for the performance of a “sandwich” program, in accordance with the standards applicable to this type of program. The optional subjects are grouped per line of research.


Teaching Internship

While taking the optional subjects, students will act, for one year, as tutors in the undergraduate courses and, in the following year, as assistant instructors. The objective of this stage is to offer internship in higher education teaching. It also aims at ensuring the integration between the undergraduate and graduate students. It is expected that such contact will result in good reflection processes, resulting in research projects and publication of authors from the other education levels of the Institution.


The Accounting and Strategic Management research line covers studies dealing with the utilization of accounting information by internal users of public and private organizations; i.e., it aims at studying how accounting information is applied by the organizations’ managers in the mechanisms for performance assessment, motivation and control and their alignment with the strategies and governance adopted.


Recent research has been expanding the theoretical grounds of accounting and strategic management, introducing concepts from the new institutional economy and from the classic economic analytic modeling for analysis of performance assessment problems. Those new approaches are combined with the studies made within the traditional normative economic paradigm. In this line of research, studies are developed on the choice of mechanisms for coordination and control, and the impacts on the performance of relationships between institutions and internal relations of the organization, whether public or private.


There is special focus on the design of contracts and incentive mechanisms aiming at reducing the cost generated by information asymmetry and, therefore, increasing the economic and financial efficiency of the institution. Accordingly, microeconomic theory brings – through the principal-agent problem and game theory – the tools required for managers to reduce the costs generated by information asymmetry (via adverse selection or moral hazard).


Also, there is special focus on the reason for the choices of metrics and accounting practices related to the use of information. The information built, using accounting metrics, economically affects the contracts between organizations and the relationships among agents and the respective areas in the institution. Transfer pricing, costing metrics, or metrics for construction of performance indicators are viewed as choices of informational content which change the balance of the level of efficiency, disclosed among agents, changing individual well being. Budget and planning techniques, fed by those indicators, deal with the reduction of uncertainty and constitute contracts (even if implicit). Setting goals, seen as a process of negotiation among agents, constitutes an incentive and power mechanism, as it can reveal or create information on local inefficiencies.


In addition to the introduction to the information economy, three variations of the new theories of the firm (alternatives and supplementary) are given as theoretical grounds for the line of research: contractual, qualification (RBV – resource based view) and behavioral. The line adopts a positive approach to research, based on the explanation of reality rather than the prescription of models.


The use of cross-section analysis and periodical analysis methodologies to develop the use of mechanisms of coordination and control will be encouraged, in addition to case studies, provided they are all strongly guided by economic theories. Students choosing this line will have to build strong applied economic theory grounds and develop effective skills in econometrics, required for the conduction of any empirical-positive study of coordination and control in this line of research.


In the ‘Finances and Business Valuation’ research line, the student can study any of the contemporary mainstream areas of the research on finance: corporate finance, asset pricing, corporate governance and business valuation based on accounting information. The elective subjects in this line of research include: Analysis of Economic Scenarios, Analysis of Financial Statements, Business Valuation, Credit, Capital and Derivatives Markets and Planning and Control, Accounting and Finances II, Microeconomics II, Econometrics II, Special Topics in Accounting, Special Topics in Contemporary Management, and Research Seminars I and II.


The philosophy of the ‘Finances and Business Valuation’ research line is in harmony with the tradition of the main international research centers: rigorous economic grounds and use of quantitative methods. Thus, it aims at applying modern economic theory to the investment and financing activities of organizations, seeking to generate evidence that, at the same time, contributes to the modern theory and increase our knowledge of Brazilian reality.


In the past few years, FUCAPE has stood out with studies aiming at explaining the interrelationship between accounting information and the capital market. The results of studies dealing with the reaction of share prices to the publication of profit information, assessment of the response of prices to international accounting standards, economic determinants of conservativeness, business valuation models based on accounting information (especially within the Ohlson paradigm), among others, have been widely published in the annals of the main scientific events and journals in the country.


For this process to succeed, PhD students should work together with the professors of their specialization areas. This process is leveraged by monthly workshops, preparing students for high level academic debate from the commencement of the course. Participation in these workshops is essential also from the perspective of bringing academics closer to the market. Executives and other managers of important companies will be invited to participate in the seminars for a critical analysis of the works being conducted. In addition to students and professors, the workshops will also have the participation of academics from other institutions, thus creating interaction between quality academic research and corporate reality. PhD students will be exposed, from the beginning of the program, to the different demands resulting from high level academic research and corporate reality.


FUCAPE is accredited by the Brazilian Ministry of Education by means of Edict 2,765 of September 6, 2004.


For more information on the PhD degree program please contact the Academic Office at (27) 4009 4425.


Holders of master’s degree in any field of knowledge, with high potential for teaching and research and interested in deepening their studies in one of the program’s lines of research may apply to the PhD in Accounting and Business Administration program of FUCAPE. The estimated frequency for admission is annual and the number of students per admission process is up to five students.

The main objective of the PhD in Accounting and Business Administration program is to train researchers and professors, by associating education and professional application with analysis and reflection competencies to produce new knowledge and technologies, as well as to identify, develop and implement new management processes, through the application of quantitative and qualitative techniques, focused mainly on controllership and finance, and in tune with the market reality and the current competitive scenarios.


The objective established will be implemented and developed based on the program’s efficient exchange schemes with other international and national PhD programs and with non-academic professional sectors related to the course areas.


Other objectives of the program include:


(1) to train high level researchers, university professors and specialists in business administration and accounting;


(2) to promote advanced and systematic studies in business administration and accounting with emphasis in controllership and finance;


(3) to encourage and guide researches, whether individual or in groups, to contribute to the development of business administration and accounting and to the promotion of such scientific and professional knowledge.

CG - Elective Subject I

27 h

CG - Elective Subject II

27 h

DCCA - 003 - Accounting and Finance I

63 h

DCCA - 004 - Microeconomics I

63 h

DCCA - 005 - Econometrics I

63 h

DCCA - 006 - Accounting and Finance II

63 h

DCCA - 007 - Microeconomics II

63 h

DCCA - 008 - Econometrics II

63 h


Applications for the PhD in Accounting and Business Administration program are now closed. Information about the new selection process will be available soon.


Application: Applications to the PhD in Accounting and Business Administration program are submitted via our website or in person by the applicant or an attorney-in-fact.


Applicants must submit the documentation below within the deadline to the Academic Office:


· Lattes curriculum vitae, updated and printed (available for filling in at http://www.cnpq.br). The applicant should attach evidence of the intellectual production stated in his/her curriculum;

· Two 3x4 cm photos;

· Copy of the bachelor degree or statement of course completion

· Copy of the undergraduate transcripts;

· Copy of the master’s degree or statement of master’s course completion

· Copy of the master’s program transcripts;

· Copy of the identity card

· Copy of the CPF (taxpayer identification) card;

· Copy of birth or marriage certificate

· Original copy of the application fee payment form, in the amount of R$ 350.00.


Applicants who fail to submit the required documentation within the deadline will not have their applications approved.


Selection Process:

The selection process will have three stages:

1st stage qualification and classification: analysis of the Lattes curriculum vitae;

2nd stage qualification and classification: interview with the Graduate Admissions Committee (CPG);

3rd stage qualification and classification: examination on fundamentals of mathematical analysis and dynamic systems, whose content and literature list are specified in the announcement, and/or tutorial course - Fundamentals of Mathematical Analysis and Dynamic Systems.


 For full details on the selection process, access the full announcement


Syllabus and reference list: access the announcement for the syllabus and reference list.



Final Rank: The five top-ranked applicants will be approved for admission as regular students of the PhD in Accounting and Business Administration program for 2013, as provided in the announcement. [Update?]


Number of places available: Five


Monthly tuition



Applicants ranked in accordance with item 3 of this announcement who do not have an employment contract in force at the time of signing the education services contract provided in item 5 of this announcement will be exempt from payment of the monthly tuition of the PhD degree program.

Applicants ranked in accordance with item 3 of this announcement who have an employment contract in force at the time of signing the education services contract provided in item 5 of this announcement must undertake the financial commitment to pay at least 48 and no more than 60 monthly tuition installments. The amount the monthly tuition for 2013 is R$ 2,780. For the other years, the amount will be readjusted every year, in accordance with applicable legislation. Special cases can be studied by the Executive Board.


For more information please contact the Academic Office at 27 4009 4425.

Applications for the PhD in Accounting and Business Administration program are now closed. Information about the new selection process will be available soon.


For more information please contact the Academic Office at 27 4009 4425.

Scholarship Program


The applicant, after being approved in the selection process, should submit a scholarship application to one of the following research promotion agencies: CAPES, CNPq, FAPES or other promotion agency. As a last resort, the applicant may apply with FUCAPE, in extraordinary cases, subject to the analysis of the Executive Board.



For more information please contact the Academic Office at 27 4009 4425.

Duration: Maximum of 48 months.

Course hours: 675 hours



Students must complete 45 credits in core and elective subjects (1 credit = 15 hours).

Core Subjects: 24 credits

Elective Subjects: 21 credits

Thesis: 45 credits


First, the PhD degree project must be approved; then, the research is conducted, followed by writing the thesis and the oral examination on the thesis.



Lessons will be taught preferably in the afternoon, but may also be taught in mornings or evenings.


Number of places available: Five