Two Ph.D. Positions in Entrepreneurial Finance – Scale-up Funding: Junior Stock Exchanges (m/f/d) in University of St. Gallen (HSG) – Institute of Technology Management (ITEM-HSG) – St. Gallen, Switzerland

Summary

The Institute of Technology Management (ITEM-HSG) at the University of St. Gallen offers two fully funded PhD positions (100% effort) from January 2027 to December 2029. The three‑year project, financed by the Swiss National Science Foundation, investigates how junior stock exchanges can bridge the scale‑up funding gap for high‑growth ventures. Candidates will enroll in the PhD Programme in Management, work on all research stages, collaborate with a fellow PhD researcher, and present findings at international conferences. The role requires an outstanding master’s degree in finance or related fields, strong analytical and econometric skills, proficiency in English, and the ability to work both independently and in international teams.

Key Facts

About the Project

The project, titled “Bridging the Scale‑up Funding Gap: The Design, Attractiveness, and Outcomes of Junior Stock Exchange Markets”, aims to understand how junior stock exchanges can provide public capital to high‑growth ventures. It will examine exchange design, listing decisions, IPO fundraising, and broader ecosystem effects through econometric analysis and empirical research.

Key Responsibilities

• Research how junior stock exchanges help high‑growth ventures access public capital
• Participate in study design, data collection, econometric analysis, and publication
• Collaborate with the second PhD researcher via joint sessions and shared data infrastructure
• Present research at leading international conferences
• Engage with practitioners and policymakers

Required Skills

• Strong analytical and econometric skills
• Experience with archival data sources such as Refinitiv or PitchBook (plus)
• Programming skills in R, Stata or Python (plus)
• Excellent command of English; German is an asset
• Ability to work independently and collaboratively in international teams
• Prior research or practical experience in venture capital, investment banking or start‑up/scale‑up ecosystem (plus)

Who Should Apply

Applicants with an outstanding master’s degree in finance, management, entrepreneurship, economics or a related discipline, strong analytical and econometric abilities, proficiency in English (German optional), and a demonstrated interest in entrepreneurial finance and capital markets. Prior research or practical experience in venture capital, investment banking, or start‑up ecosystems is advantageous.

Benefits

• Inspirational work environment
• Executive education opportunities
• Strong professional network
• Family and career support
• Equal opportunities
• Health and fitness offerings

About the Employer

The Institute of Technology Management (ITEM-HSG) conducts research and teaching at the interface of technology, innovation, and entrepreneurship, emphasizing knowledge transfer into practice. Its Chair of Entrepreneurship, led by Prof. Dr. Dietmar Grichnik, combines academic excellence with practical impact through research on entrepreneurial decision‑making, venture financing, and technology entrepreneurship. The University of St. Gallen is a leading European institution in economics and business administration with over 10,000 students and 3,800 staff.