UK PhD assessment in accounting and finance: social capital in action

ABSTRACT

Assessment lies at the centre of PhD degree quality standards, with quality assurance relying on independent external examiners. This study investigates the role of the viva and the selection of external examiners from within the accounting and finance discipline across UK institutions. A questionnaire survey and follow-up interviews with academics (299 respondents; 49 interviews) and recent PhD graduates (73 respondents; 18 interviews) were undertaken. Findings identify multiple viva roles including verification; academic career development; and assessment. External examiner selection is outcome-driven, and the independence of examiners is questionable when secured using the social capital existing between an examiner and supervisor. Supervisors and examiners jointly gate-keep the academic community within cliques, although at the viva stage new entrants are rarely excluded. The PhD assessment process offers the opportunity for rogue cliques to develop, driven by favourable outcomes in terms of personal benefits and costs, allowing new entrants of insufficient quality.

KEYWORDS:

• UK
• accounting and finance
• PhD assessment
• social capital

Acknowledgments

Particular thanks go to the academic members of staff and recently graduated PhD students for their participation in this study. We would also express our gratitude to the anonymous reviewers and associate editor who provided very useful comments on earlier drafts of this paper.

Disclosure statement

No potential conflict of interest was reported by the authors.

Additional information

Funding

We would like to thank The Scottish Accountancy Trust for Education and Research for funding the research upon which this paper is based.