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.

Loughborough University

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Overview:

Loughborough University is a public research university located in Loughborough, Leicestershire, England. It is renowned for its strong academic programs, particularly in sports science, engineering, and business. The university boasts a vibrant campus life and a strong focus on research and innovation.

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Student Life and Campus Experience:

Loughborough University offers a diverse and engaging campus experience. Students can participate in a wide range of extracurricular activities, including sports, societies, and volunteering opportunities. The university has a strong sporting heritage and is home to world-class facilities. Students can also enjoy a vibrant social scene with numerous bars, restaurants, and events happening on campus.

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Key Reasons to Study There:

World-class facilities:

Loughborough University boasts state-of-the-art facilities, including a dedicated sports village, a modern library, and cutting-edge research labs.

Strong academic reputation:

The university is consistently ranked among the top universities in the UK for its academic excellence.

Vibrant campus life:

Students can enjoy a lively and diverse campus community with numerous opportunities for social interaction and personal development.

Focus on research and innovation:

Loughborough University is a leading research institution, with a strong focus on tackling real-world challenges.

Excellent career prospects:

Graduates from Loughborough University are highly sought after by employers, with strong career prospects in various fields.

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Academic Programs:

Loughborough University offers a wide range of undergraduate and postgraduate programs across various disciplines, including:

Engineering:

Aerospace, Chemical, Civil, Electrical, Mechanical, and more.

Business and Economics:

Accounting, Finance, Management, Marketing, and more.

Sport Science:

Exercise Science, Sports Coaching, Sports Management, and more.

Humanities and Social Sciences:

Psychology, Sociology, History, and more.

Science and Technology:

Chemistry, Physics, Computer Science, and more.

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Other:

Loughborough University has a strong commitment to sustainability and social responsibility. The university is actively working towards achieving net-zero carbon emissions and promoting inclusivity and diversity within its community.