Just How Good are the Top Three Journals in Finance? An Assessment Based on Quantity and Quality Citations

The paper is concerned with ranking academic journal quality and research impact in Finance, based on the widely-used Thomson Reuters ISI (2013) Web of Science citations database (hereafter ISI). The paper analyses the 89 leading international journals in the ISI category of “Business – Finance” usi...

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Authors: Chang, Chia-Lin, McAleer, Michael
Format: report
Publication Date:2014
Country:España
Institution:Universidad Complutense de Madrid (UCM)
Repository:Docta Complutense
Language:English
OAI Identifier:oai:docta.ucm.es:20.500.14352/41568
Online Access:https://hdl.handle.net/20.500.14352/41568
Access Level:Open access
Keyword:Research assessment measures
Impact factor
IFI
C3PO
PI-BETA
STAR
Eigenfactor
Article Influence
h-index
5YD2
ICQ
ESC
harmonic mean of the ranks
finance
journal rankings.
Econometría (Economía)
5302 Econometría
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oai_identifier_str oai:docta.ucm.es:20.500.14352/41568
network_acronym_str ES
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spelling Just How Good are the Top Three Journals in Finance? An Assessment Based on Quantity and Quality CitationsChang, Chia-LinMcAleer, MichaelResearch assessment measuresImpact factorIFIC3POPI-BETASTAREigenfactorArticle Influenceh-index5YD2ICQESCharmonic mean of the ranksfinancejournal rankings.Econometría (Economía)5302 EconometríaThe paper is concerned with ranking academic journal quality and research impact in Finance, based on the widely-used Thomson Reuters ISI (2013) Web of Science citations database (hereafter ISI). The paper analyses the 89 leading international journals in the ISI category of “Business – Finance” using quantifiable Research Assessment Measures (RAMs). The analysis highlights the similarities and differences in various RAMs, all of which are based on alternative transformations of journal citations and impact. Alternative RAMs may be calculated annually or updated daily to determine the citations frequency of published papers that are cited in journals listed in ISI. The RAMs include the classic 2-year impact factor including journal self citations (2YIF), 2-year impact factor excluding journal self citations (2YIF*), 5-year impact factor including journal self citations (5YIF), Immediacy including journal self citations, Eigenfactor (or Journal Influence), Article Influence, h-index, PI-BETA (Papers Ignored - By Even The Authors), Self-citation Threshold Approval Rating (STAR), 5YD2 (namely, 5YIF divided by 2YIF), Escalating Self Citations (ESC), and ICQ (Index of Citation Quality). The paper calculates the harmonic mean of the ranks of up to 16 RAMs. It is shown that emphasizing 2YIF to the exclusion of other informative RAMs can lead to a misleading evaluation of journal quality and impact relative to the harmonic mean of the ranks. The analysis of the 89 ISI journals in Finance makes it clear that there are three leading journals in Finance, namely Journal of Finance, Journal of Financial Economics and Review of Financial Studies, which form an exclusive club in terms of the RAMs that measure journal quality and impact based on alternative measures of journal citations. The next two journals in Finance in terms of overall quality and impact are Journal of Accounting and Economics and Journal of Monetary Economics.Universidad Complutense de Madrid20142014-05-0120142014-05-01technical reporthttp://purl.org/coar/resource_type/c_18ghinfo:eu-repo/semantics/reportapplication/pdfhttps://hdl.handle.net/20.500.14352/41568reponame:Docta Complutenseinstname:Universidad Complutense de Madrid (UCM)Inglésengopen accesshttp://purl.org/coar/access_right/c_abf2Atribución-NoComercial-CompartirIgual 3.0 Españahttps://creativecommons.org/licenses/by-nc-sa/3.0/es/info:eu-repo/semantics/openAccessoai:docta.ucm.es:20.500.14352/415682026-06-02T12:44:21Z
dc.title.none.fl_str_mv Just How Good are the Top Three Journals in Finance? An Assessment Based on Quantity and Quality Citations
title Just How Good are the Top Three Journals in Finance? An Assessment Based on Quantity and Quality Citations
spellingShingle Just How Good are the Top Three Journals in Finance? An Assessment Based on Quantity and Quality Citations
Chang, Chia-Lin
Research assessment measures
Impact factor
IFI
C3PO
PI-BETA
STAR
Eigenfactor
Article Influence
h-index
5YD2
ICQ
ESC
harmonic mean of the ranks
finance
journal rankings.
Econometría (Economía)
5302 Econometría
title_short Just How Good are the Top Three Journals in Finance? An Assessment Based on Quantity and Quality Citations
title_full Just How Good are the Top Three Journals in Finance? An Assessment Based on Quantity and Quality Citations
title_fullStr Just How Good are the Top Three Journals in Finance? An Assessment Based on Quantity and Quality Citations
title_full_unstemmed Just How Good are the Top Three Journals in Finance? An Assessment Based on Quantity and Quality Citations
title_sort Just How Good are the Top Three Journals in Finance? An Assessment Based on Quantity and Quality Citations
dc.creator.none.fl_str_mv Chang, Chia-Lin
McAleer, Michael
author Chang, Chia-Lin
author_facet Chang, Chia-Lin
McAleer, Michael
author_role author
author2 McAleer, Michael
author2_role author
dc.contributor.none.fl_str_mv Universidad Complutense de Madrid
dc.subject.none.fl_str_mv Research assessment measures
Impact factor
IFI
C3PO
PI-BETA
STAR
Eigenfactor
Article Influence
h-index
5YD2
ICQ
ESC
harmonic mean of the ranks
finance
journal rankings.
Econometría (Economía)
5302 Econometría
topic Research assessment measures
Impact factor
IFI
C3PO
PI-BETA
STAR
Eigenfactor
Article Influence
h-index
5YD2
ICQ
ESC
harmonic mean of the ranks
finance
journal rankings.
Econometría (Economía)
5302 Econometría
description The paper is concerned with ranking academic journal quality and research impact in Finance, based on the widely-used Thomson Reuters ISI (2013) Web of Science citations database (hereafter ISI). The paper analyses the 89 leading international journals in the ISI category of “Business – Finance” using quantifiable Research Assessment Measures (RAMs). The analysis highlights the similarities and differences in various RAMs, all of which are based on alternative transformations of journal citations and impact. Alternative RAMs may be calculated annually or updated daily to determine the citations frequency of published papers that are cited in journals listed in ISI. The RAMs include the classic 2-year impact factor including journal self citations (2YIF), 2-year impact factor excluding journal self citations (2YIF*), 5-year impact factor including journal self citations (5YIF), Immediacy including journal self citations, Eigenfactor (or Journal Influence), Article Influence, h-index, PI-BETA (Papers Ignored - By Even The Authors), Self-citation Threshold Approval Rating (STAR), 5YD2 (namely, 5YIF divided by 2YIF), Escalating Self Citations (ESC), and ICQ (Index of Citation Quality). The paper calculates the harmonic mean of the ranks of up to 16 RAMs. It is shown that emphasizing 2YIF to the exclusion of other informative RAMs can lead to a misleading evaluation of journal quality and impact relative to the harmonic mean of the ranks. The analysis of the 89 ISI journals in Finance makes it clear that there are three leading journals in Finance, namely Journal of Finance, Journal of Financial Economics and Review of Financial Studies, which form an exclusive club in terms of the RAMs that measure journal quality and impact based on alternative measures of journal citations. The next two journals in Finance in terms of overall quality and impact are Journal of Accounting and Economics and Journal of Monetary Economics.
publishDate 2014
dc.date.none.fl_str_mv 2014
2014-05-01
2014
2014-05-01
dc.type.none.fl_str_mv technical report
http://purl.org/coar/resource_type/c_18gh
dc.type.openaire.fl_str_mv info:eu-repo/semantics/report
format report
dc.identifier.none.fl_str_mv https://hdl.handle.net/20.500.14352/41568
url https://hdl.handle.net/20.500.14352/41568
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
Atribución-NoComercial-CompartirIgual 3.0 España
https://creativecommons.org/licenses/by-nc-sa/3.0/es/
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
Atribución-NoComercial-CompartirIgual 3.0 España
https://creativecommons.org/licenses/by-nc-sa/3.0/es/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Docta Complutense
instname:Universidad Complutense de Madrid (UCM)
instname_str Universidad Complutense de Madrid (UCM)
reponame_str Docta Complutense
collection Docta Complutense
repository.name.fl_str_mv
repository.mail.fl_str_mv
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