Master 2 Master of Science in Finance (parcours recherche)

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Application period for the 2023-2024 school year.

  • Applications round 1:
    • → Application period: from January 3 to January 23
    • → Publication of eligibility results on February 2
    • → Admission/interview phase: February 6 to 17
    • → Publication of admission results: February 23
    • → Candidates' responses : until February 27
  • Applications round 2:
    • → Application period: from March 1 to April 3 rd
    • → Publication of eligibility results: May 25
    • → Admission/interview phase: May 30 to June 9
    • → Publication of admission results: June 19
    • → Candidates' responses: June 22

Get more information on the Doctoral Programme website.


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    label contrôlé par l&aposEtatEPAS TSM


The MSc. in Finance is the first year of the TSM Doctoral Programme which is an EFMD-Accredited rigorous international training.

The European Foundation for Management Development (EFMD) Accreditation is the most thorough programme accreditation system for business and management programmes with an international perspective. According to EFMD: "[...] the Doctoral Programme is a very good programme with well-organised and institutionalised provision. It concentrates on developing candidates with rigorous research competencies in combination with the ability to identify and communicate on the practical applications of research. The programme offers a robust international learning experience through institutional networks and partners."

The Master of Science in Finance aims at training a new generation of creative, entrepreneurial and innovative researchers, able to face current and future challenges.


To do so it creatively combines the best of practice, theory, qualitative & quantitative tools and reality-based education. You will attend academic conferences, make presentations, organise seminars, and contribute to management and academic decisions. It also offers high quality teaching and a truly multicultural work environment with students coming from all over the world.


Our MSc offers the excellence training needed for international and French university graduates interested in pursuing a career in research:

  • Rigorous selection process
  • Close supervision by internationally recognized high-level research professors who publish in the best journals
  • Full immersion in the lab research activities
  • Exchanges with the world’s best universities
  • Research presentations in the leading international conferences


We deliberately keep the MSc small to allow you to work closely with your supervisor, develop interaction with other faculty members who will be happy to act as sounding boards, and gain teaching experience.


Discover our interview Campus Channel


We are looking for talented applicants who are enthusiastic about research, genuinely intellectually curious, like reading and debating, want to be able to answer new questions and love to travel and meet new people. If this sounds like you, we encourage you to take a closer look at our TSM Doctoral Programme, and we look forward to receiving your application.


The Master of Science is the first year of the TSM Doctoral Programme which is one of only 4 doctoral programmes entirely dedicated to management in France. 


The academic year starts early September.
Students have the opportunity to take a gap year before entering the programme.

Core courses

  • Learning and practice in research
  • Engaging with the scientific literature
  • Management science
  • Qualitative methods
  • Quantitative methods
  • Experimental methods

Track specific research courses

  • Advanced topics in corporate finance
  • Advancced topics in financial markets
  • Perspectives in finance

Track specific practitioner courses

  • Financial econometrics 
  • Economics for finance
  • Psychology for finance
  • Derivatives

Research training seminars

  • Managing your PhD: getting started
  • Library resources
  • What are the good academic conferences?
  • How to present a research paper?
  • International job market
  • LaTex
  • Alumni talk
  • The French cultural etiquette
  • Master thesis or internship


  • A Bachelor’s degree (in the US)
  • A Master first year (in Europe) 
  • An equivalent diploma, representing a four-year course of study in an accredited college or university

A complete Master’s degree is not required, although many applicants have a Master’s degree in such fields as management, finance, economics, pyschology, engineering, and statistics.  

Application checklist:

More details on the Doctoral Programme's website

I chose Toulouse School of Management to prepare a Master’s degree in Corporate Finance for the quality of teaching and for the city itself. After the Master, I joined the Doctoral School of Management to continue my research activities. Discussions with my professors gave me the desire to continue my studies to have a career in academia.

Nassima Selmane

Research Master in Corporate Finance 2012

If students have written a Master thesis during their Master of Science in Finance they can apply to the MPhil in Management, in order to follow the second year of Doctoral Programme.  The later years of the doctoral programme are dedicated to original research and the creation of a dissertation.


Graduates pursue international careers in leading universities and business schools, policy-oriented institutions and private firms.

Les autres formations

Master 2 Corporate finance (FI)

Master 2 Financial markets and risk evaluation (FI)

Master 2 Finance and information technology (FI)

Master 2 Corporate Finance - double diplôme HEC Liège (FI)

Master 2 Financial Markets and Risk Evaluation - double diplôme HEC Liège (FI)

Master 1 Finance (FI)