MPhil/PhD Studentship: Oil Prices and Stock Markets

University of Greenwich - Faculty of Business


In the last decades, dependence of the world on energy, particularly on petroleum, has grown steadily. Nowadays, petroleum is still a major energy source in the world, which accounts for about 32% of global energy consumption (International Energy Agency, 2016). Market news concerning petroleum and petroleum products are highly important for governments of most countries and stock markets. Prices of petroleum compared to prices of other commodities have customarily been more volatile. Movements in petroleum price through various channels may have an impact on returns of stock markets. Thus, it is not surprising that petroleum price fluctuations and the analysis of the interrelations betwixt petroleum price shocks and stock markets have attracted attention of investors, policy makers, finance researchers and practitioners around the world. The major economic rationale of such attention is the potential effects of the frequent changes in petroleum price over the past years on corporate cash flows and earnings, which consequently have an impact on stock prices. The primary objective of this research is to investigate the volatility spillover effects, including bidirectional effects, between petroleum prices and stock sector indices, such as Automobile and Parts, Basic Materials, Financials, Industrials, Oil and Gas, Technology and Utilities, of the following country groupings: North America, Western Europe and OPEC.

For further information please contact the supervisor:

Dr Cesario Mateus,

Bursary available (subject to satisfactory performance):

Year 1:  £14,553
Year 2:  In line with RCUK rate        
Year 3: In line with RCUK rate

In addition, the successful candidate will receive a contribution to tuition fees equivalent to the university’s Home/EU rate, currently £4,195, for the duration of their scholarship. International applicants will need to pay the remainder tuition fee, currently £8,305, for the duration of their scholarship. This fee is subject to an annual increase. Scholarships are available for three years from the date scholars first 

register as an MPhil/PhD student with the university. Scholarships are available for full-time study only and applicants must meet the programme entry requirements. 

For additional information about the scholarship and links to the application form please go to: 

Please read this information before making an application. Applications need to be made online via   No other form of application will be considered.

All applications must include the following information.  Applications not containing these documents will not be considered.

  • Scholarship Reference Number (Ref) – included in the personal statement section together with your personal statement as to why you are applying
  • a research proposal *
  • a CV including 2 referees *
  • academic qualification certificates/transcripts and IELTs/English Language certificate if you are an international applicant or if English is not your first language or you are from a country where English is not the majority spoken language as defined by the UK Border Agency *

*upload to the qualification section of the application form. Attachments need to be in PDF format.

The closing date for applications is midnight (UTC) on 26 September 2017.

The scholarship must commence before 30 November 2017.

Share this PhD
  Share by Email   Print this job   More sharing options
We value your feedback on the quality of our adverts. If you have a comment to make about the overall quality of this advert, or its categorisation then please send us your feedback
Advert information

Type / Role: