We provide a ranking of world finance research output by countries and institutions. Based upon 21 finance journals, the top five most productive countries are in the following order: U.S., U.K., Canada, Hong Kong, and Australia. We find that higher per capita GNP, English-speaking countries, and a capital market that offers her investors more protections are associated with higher level of finance literature production. New York University, the University of Pennsylvania, Harvard University, the University of Chicago, and UCLA take the top five spots among the 1,126 academic institutions with most JF-pages appeared in 21 finance journals during the 15-year period from 1990 to 2004. The share of U.S. in the top-100 institutions is overwhelming; 78 out of the top-100 institutions come from U.S. We also show some factors that help to explain the cross-institutional variations among a sub-sample of the institutions. Specifically, faculty size, catalyst effect, and per capita budget are positively associated with research output.
Finance research Institutional ranking Investor protection
G00 J40 J62
This is a preview of subscription content, log in to check access.
We acknowledge helpful comments from an anonymous referee and Christine Lai for her excellent programming assistance.
Alexander, J. C., & Mabry, R. H. (1994). Relative significance of journals, authors, and articles cited in financial research. Journal of Finance, 49, 697–712.CrossRefGoogle Scholar
Borokhovich, K. A., Bricker, R. J., Brunarski, K. R., & Simkins, B. S. (1995). Accounting research productivity and influence. Journal of Finance, 50, 1691–1717.CrossRefGoogle Scholar
Brown, L. D. (1996). Influential accounting articles, individuals, Ph.D. granting institutions and faculties: A citational analysis. Accounting, Organizations and Society, 21, 723–754.CrossRefGoogle Scholar
Chan, K. C., Chen, C. R., & Cheng, L. (2005a). Ranking research productivity in accounting for Asia-Pacific universities. Review of Quantitative Finance and Accounting, 24, 47–64.CrossRefGoogle Scholar
Chan, K. C., Chen, C. R., & Lung, P. L. (2005b). A ranking of finance programs in the Asia-Pacific region: 1990–2004. Pacific-Basin Finance Journal, 13, 584–600.CrossRefGoogle Scholar
Chan, K. C., Chen, C. R., & Steiner, T. (2002). Production in the finance literature, institutional reputation, and labor mobility in the academia: a global perspective. Financial Management, 31, 131–156.CrossRefGoogle Scholar
Conroy, M. E., Dusansky, R., Drukker, D., & Kildegaard, A. (1995). The productivity of economics departments in the U.S.: publications in the core journals. Journal of Economic Literature, 33, 1966–1971.Google Scholar
Collins, J. T., Cox, R. G., & Stango, V. (2000). The publishing patterns of recent economics Ph.D. recipients. Economic Inquiry, 38, 358–367.CrossRefGoogle Scholar
Damgaard, C., 2003. Gini coefficient, MathWorld—A Wolfram Web Resource, created by Eric W. Weisstein. (http://mathworld.wolfram.com/GiniCoefficient.html).Google Scholar
Hasselback, J. R., & Reinstein, A. (1995). A proposal for measuring scholarly productivity of accounting faculty. Issues in Accounting Education, 10, 269–306.Google Scholar
Heck, J. L., & Cooley, P. L. (2005). Prolific authors in the finance literature: a half century of contributions. Journal of Finance Literature, 1, 46–69.Google Scholar
Kalaitzidakis, P., Mamuneas, T. P., & Tengos, T. (2003). Ranking of academic journals and institutions in economics. Journal of the European Economic Association, 1, 1346–1366.CrossRefGoogle Scholar
La Porta, R., Lopez-de-Silanes, F., Shleifer, A., & Vishny, R. W. (1998). Law and finance. Journal of Political Economy, 106, 1113–1154.CrossRefGoogle Scholar
Niemi, A. W. Jr. (1987). Institutional contributions to the leading accounting journals, 1975–1986: A note. Journal of Finance, 42, 1389–1397.CrossRefGoogle Scholar
Oltheten, E., Theoharakis, V., & Travlos, N. G. (2005). Faculty perceptions and readership patterns of finance journals: A global view. Journal of Financial and Quantitative Analysis, 40, 223–239.CrossRefGoogle Scholar
Scott, L. C., & Mitias, P. M. (1996) Trends in rankings of economics departments in the U.S.: An update. Economic Inquiry, 34(2), 378–400.Google Scholar
Stammerjohan, W. W., & Hall, S. C. (2002). Evaluation of doctoral programs in accounting: an examination of placement. Journal of Accounting Education, 20, 1–27.CrossRefGoogle Scholar