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Academic content, research productivity, and tenure

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Abstract

This study examines the influence of a Finance doctoral program’s academic content on the research productivity of the graduates at the time of the tenure decision. The results of this investigation show that a Finance program’s academic content has no influence on the total number of publications of program graduates, but finds a significant relationship between academic content and graduate’s records of publications in top finance journals by the time of the tenure evaluation. More precisely, doctoral programs requiring more mathematically oriented classes such as Continuous Time Finance and/or Stochastic Calculus produce graduates who have a better record of publication in top finance journals at the time of tenure than those graduating from programs without these requirements.

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Notes

  1. Program directors were randomly contacted to verify that the information in the web pages was complete.

  2. Following Davis et al. (2001) who indicate that scholarly journals are the most important research outlet, we consider only publications in scholarly journals as the main intellectual contribution at the time of tenure. However, we recognize that in some environments other intellectual contributions such as books and conference presentations, regarded as complementary by Davis et al. (2001), could be considered in the tenure process.

  3. We also examine the number of graduates in Finance publishing in top economic journals. Following Hamermesh et al. (1982), Laband and Piette (1994), Oster and Hammermesh (1998) and Laband and Tollison (2000) we consider that the seven most influential journals in the economic field are American Economic Review, Econometrica, Journal of Econonomic Theory, Journal of Monetary Economics, Journal of Political Economy, Quarterly Journal of Economics, Review of Economics and Statistics and Review of Economic Studies. 81 graduates in Finance published 91 articles in top economic journals. 79 authors belong to Group “A” and published 89 articles. Only 2 authors belong to Group “B” and published 2 articles in top economic journals.

  4. Similar results are observed using Newey and West’s (1987) heteroskedasticity and autocorrelation consistent covariance matrix. Following Chang et al. (1993) and Brusa and Liu (2004), we also estimate Equation (2) using trimmed least squares with trim at 5% and 20%. The results of these regressions are essentially the same as those presented in Table 7. The results of the analysis indicate that outliers do not influence the results.

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Authors and Affiliations

  1. Department of Accounting, Economics and Finance, College of Business Administration, Texas A&M International University, 5201 University Boulevard, Laredo, TX, 78041, USA

    Jorge Brusa

  2. Department of Finance, Insurance, Real Estate and Law, College of Business Administration, University of North Texas, Denton, TX, 76203, USA

    Michael Carter

  3. Department of Accounting and MIS, School of Business and Economics, Winston-Salem State University, Winston-Salem, NC, 27110, USA

    George E. Heilman

Authors
  1. Jorge Brusa
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  2. Michael Carter
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  3. George E. Heilman
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Correspondence to Jorge Brusa.

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Brusa, J., Carter, M. & Heilman, G.E. Academic content, research productivity, and tenure. J Econ Finance 34, 46–60 (2010). https://doi.org/10.1007/s12197-008-9066-y

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