Program Overview

Program Overview

The program in question is a PhD research opportunity focused on "Multinationals, transfer pricing, and tax competition: competition for capital versus competition for profits." This project aims to investigate the emerging intergovernmental tax competition for reported profits and how it differs from the traditional competition for Foreign Direct Investment (FDI).

Qualification(s) Available

• PhD

Entry Requirements

• At least a 2:1 honours degree (or equivalent) with a UK master's degree (with an average programme mark of no less than 65%) or international equivalent.

Fees for Entry

• UK fee: £5,006 Full-time degree per annum
• International fee: £22,360 Full-time degree per annum

Duration and Start Date

• Full-time: 3 years
• Start date: October 2025, January 2026

Application Deadline

• 1 October 2025

Project Reference

• LB25-BF-BG-unfunded

Location

• Loughborough

Subject Area(s)

• Business and Economics

Project Details

There is growing concern among policymakers and the public that ‘aggressive tax planning’ by multinational corporations, such as international profit shifting through transfer pricing, undermines national tax bases and reduces public spending capacity. However, most economic analyses of tax competition have traditionally focused on contests for real capital, such as foreign direct investment (FDI), rather than on contests for reported profits.

This PhD project aims to address this gap by using both empirical and theoretical methods to investigate the emerging intergovernmental tax competition for reported profits and how it differs from the traditional competition for FDI. Key, policy-relevant questions to be explored include:

• How can ‘aggressive tax planning’ by multinationals be effectively tackled?
• How do the identities of a country’s international competitors shift when the focus is on reported profits rather than FDI?

The project will be supervised by a team comprising a leading researcher in tax competition, and experts in the economics of international trade and globalization. It tackles a highly topical issue in international policymaking and offers significant potential for impactful publications and the launch of a successful research career. As a PhD student within Loughborough Business School, you will join a vibrant research community and benefit from advanced training opportunities designed to support your academic and professional growth.

Supervisors

• Primary supervisor: Dr Ben Ferrett
• Secondary supervisor: Dr Bo Gao

English Language Requirements

Applicants must meet the minimum English language requirements. Loughborough Business School requires a minimum IELTS band 7.0 or above with not less than 7.0 in each component.

How to Apply

1. Put together your research proposal (between 2,500 to 3,000 words including references). Share your research proposal with the identified supervisor(s) and confirm they are willing to be named in support of your application. You are also encouraged to ask for feedback to develop your research proposal.
2. All applications should be made online. Under programme name, select ‘Business School'. Please upload with your application a research proposal, copies of your transcripts/certificates, English language certificate and contact details of two academic references, one of which must be from your most recent degree. Please quote the project reference number: LB25-BF-BG-unfunded.

Selection Criteria

The selection criteria will be used by academic schools to help them take a decision on your application.

International Entry Requirements

The University uses the Shanghai Academic Ranking of World Universities to identify the required final mark for students from China. For other countries, specific GPA or percentage requirements are outlined:

• For example, in the United States, a GPA of 3.5 is required for a first-class honours equivalent.
• In India, institutions listed on the National Institutional Ranking Framework require 65% for a first-class honours equivalent.
• Detailed requirements for each country are provided to ensure clarity on the entry standards.