The Impact of PhD Programs on Finance Research

Dave O. Jackson ； Cynthia J. Brown

《Advances in Quantitative Analysis of Finance and Accounting》 10期 (2012/06) Pp. 141-159

https://doi.org/10.6293/AQAFA.2012.10.06

並列摘要

The main purpose of this paper is to evaluate the relative contribution of PhD programs using Heck and Cooley's (2005) list of ”core” finance journals and analyze articles published between 1993 and 2007. By ranking programs based on graduates' contribution to top-scholarly journals we provide a better measure of their impact on knowledge enhancement. Our dataset includes 10,468 articles written by 8,945 authors affiliated with 2,020 institutions. We find that contributions are highly skewed in favor of a few programs. Of the 603 PhD granting institutions represented in the data, 25 institutions account for 47% of all articles. The University of Chicago is the top-ranked institution with the largest overall contribution and the largest contributor to the Journal of Finance and Journal of Financial Economics, the most widely cited finance journals. These results persist over time as the relative contributions of the top schools do not change significantly when the data is segmented into three five-year periods or annually. Our findings demonstrate that notwithstanding the growth in number of PhD-granting institutions as well as the significant expansion of many programs, the finance discipline continues to be shaped by a relatively small cadre of programs and individuals. We also provide a comparative ranking based on author affiliation, an analysis of the most prolific authors as well as the relative contribution of non-academic and foreign institutions.

並列關鍵字

Research Productivity ； Ranking ； Familiarity-Rank Position Index (FARPI)

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