The Journal of Finance
 | |
| Discipline | Finance, economics, business |
|---|---|
| Language | English |
| Edited by | Stefan Nagel |
| Publication details | |
| History | 1946-present |
| Publisher | |
| Frequency | Bimonthly |
| 6.201 (2018) | |
| Standard abbreviations | |
| ISO 4 | J. Finance |
| Indexing | |
| CODEN | JLFIAN |
| ISSN | 0022-1082 (print) 1540-6261 (web) |
| LCCN | 49022513 |
| JSTOR | 00221082 |
| OCLC no. | 1782429 |
| Links | |
The Journal of Finance is a peer-reviewed academic journal published by Wiley-Blackwell on behalf of the American Finance Association. It was established in 1946. The editor-in-chief is Stefan Nagel. It is considered to be one of the premier finance journals.[1][2] According to the Journal Citation Reports, it had a 2015 impact factor of 5.290, ranking it first out of 94 journals in the category "Business/Finance" and 4th out of 345 in the category "Economics".[3] It is listed as one of the 50 journals used by the Financial Times to compile its business-school research ranks[4] and Bloomberg Businessweek's Top 20 Journals.[5]
Mission
The Journal of Finance publishes leading research across all the major fields of financial research. It is one of the most widely cited academic journals on finance and one of the most widely cited journals in all of economics as well. Each issue of the journal reaches over 8,000 academics, finance professionals, libraries, government and financial institutions around the world. Published six times a year, the journal is the official publication of The American Finance Association, the premier academic organization devoted to the study and promotion of knowledge about financial economics.[6] The purpose of the AFA is to provide for the mutual association of persons with an interest in finance, to improve public understanding of financial problems, to provide for the exchange of financial ideas through the distribution of a periodical and other media, to encourage the study of finance in colleges and universities, and to conduct such other activities as may be appropriate for a non-profit, professional society in the field of finance.[7]
Main Lines of Inquiry
The Journal of Finance publishes leading research across all the major fields of financial research.[8] The growing prominence of corporate governance research, particularly among the elite journals, and an increase in research around bankruptcy, default and credit risk following the global financial crisis, suggests that finance researchers are responding to the evolution of real-world events when determining their research agendas. Recurring concepts in the Journal of Finance are especially Corporate Governance, volatility, options, pricing, performance measurement and Trading.[9]
Editors
The editorial board of the journal of finance consists of Editor, Co-Editors and Associate Editors. The Executive Editor is Stefan Nagel, who is a Professor at the University of Chicago Booth School of Business. The Co-Editors are Philipp Bond (University of Washington), Amit Seru (Stanford University) and Wei Xiong (Princeton University). Moreover, there are several Associate-Editors who teach at well-known Universities worldwide, e.g. London School of Economics, Yale University, Columbia University.[10]
The following persons are or have been editor-in-chief of the journal:[11]
- Marshall Ketchum (University of Chicago, 1946-1955)
- Harold Fraine (University of Wisconsin–Madison, 1956-1958)
- Joel Segall (University of Chicago, 1958-1960)
- Harold Fraine (University of Wisconsin–Madison, 1961-1963)
- Lawrence Ritter (New York University, 1964-1966)
- Dudley Luckett (Iowa State University, 1967-1970)
- Alexander A. Robichek (Stanford University, 1971-1973)
- Jack M. Guttentag (University of Pennsylvania, 1974-1977)
- Marshall E. Blume (University of Pennsylvania, 1977-1980)
- Michael J. Brennan (University of British Columbia, 1980-1983)
- Edwin J. Elton and Martin Gruber (New York University, 1983-1988)
- René M. Stulz (The Ohio State University, 1988-1999)
- Richard C. Green (Carnegie Mellon University, 2000-2003)
- Robert F. Stambaugh (University of Pennsylvania, 2004-2006)
- Campbell Harvey (Duke University, 2006-2012)
- Kenneth J. Singleton (Stanford University, 2012-2016)
- Stefan Nagel (University of Michigan, 2016-present)
Awards
Each year the top papers published in the journal are nominated for the Smith Breeden and Brattle Prizes.
Criticism
The US is pre-eminent in terms of the volume of work published in the leading journals in finance and US authors also over-achieve in terms of citations. Moreover, it appears that US journals are less likely to publish work by non-US based authors than journals edited in other locations. Furthermore, there is a concentration of finance research and citations towards the top-rated institutions. More than half of papers published in the JOD are by authors in the Times Higher Education’s Top 100 universities, and three-quarters are from the QS Top 200 MBA Schools. This concentration of publications in the top journals among authors from elite institutions, especially in the US, is concerning. It prevents researchers from other institutions to compete on a level playing field when producing research of comparable quality to those at the elite universities.
Publications in elite finance journals drive the research agendas not only within their own spheres of activity but their influence is pervasive across all finance research. Future researchers will try to pin their arguments to this mast and finance scholars appear to view citing research from anything other than the very highest rated journals as diminishing the perceived standing of their own work which would damage its chances of publication. Therefore, even high-quality research in low rated journals will struggle to gain any sort of widespread recognition by other researchers.
The broad similarities in subject matter and in methodology in finance publications across journal quality ratings are striking and it is ironic that a discipline which espouses the benefits of diversification as one of its core principles shows a research style and agenda that is so very narrow. The lack of paradigmatic diversity is dangerous because it helps to reinforce the narrowing of research agendas and methodological approaches to those preferred by the top journals, especially as the latter have little incentive to change the status quo given that they have done so well from the existing structure.[12]
References
- ^ Oltheten, Elisabeth; Theoharakis, Vasilis; Travlos, Nickolaos G. (2005-03-01). "Faculty Perceptions and Readership Patterns of Finance Journals: A Global View". Journal of Financial and Quantitative Analysis. 40 (1): 223–239. doi:10.1017/S0022109000001800.
- ^ Borokhovich, Kenneth A.; Bricker, Robert J.; Simkins, Betty J. (1994-06-01). "Journal Communication and Influence in Financial Research". The Journal of Finance. 49 (2): 713–725. doi:10.1111/j.1540-6261.1994.tb05159.x.
- ^ "Web of Science". 2011. Retrieved May 5, 2011.
- ^ "45 Journals used in FT Research Rank". FT.com/UK. Financial Times. 2009-02-17. Archived from the original on 2009-06-21. Retrieved 2011-05-06.
- ^ "Full-Time MBA Rankings". Bloomberg BusinessWeek. 2008-11-13. Archived from the original on 2008-12-11. Retrieved 2011-05-06.
- ^ The American Finance Association. (n.d.). Aims and Scope. Retrieved from https://afajof.org/aims-and-scope/.
- ^ The American Finance Association. (n.d.). About The AFA. Retrieved from https://afajof.org/about-the-afa/.
- ^ The American Finance Association. (n.d.). Aims and Scope. Retrieved from https://afajof.org/aims-and-scope/.
- ^ Brooks, C. & Schopohl, L. (2018). Topics and Trends in Finance Research: What is published, who publishes it and what gets cited? ICMA Centre, Henley Business School
- ^ The American Finance Association. (n.d.). Editorial Board. Retrieved from https://afajof.org/editorial-board/.
- ^ Kavesh, Robert A. (1970). "The American Finance Association: 1939-1969". Journal of Finance. 25 (1): 1–17. doi:10.1111/j.1540-6261.1970.tb00409.x. JSTOR 2325795.
- ^ Brooks, C. & Schopohl, L. (2018). Topics and Trends in Finance Research: What is published, who publishes it and what gets cited? ICMA Centre, Henley Business School