Beruflich Dokumente
Kultur Dokumente
A Conference RankingI
Sebastian J. Reinartz, Daniel Urban
Department of Financial Management and Capital Markets, Technische Universitt Mnchen,
Arcisstr. 21, 80333 M
unchen, Germany
Abstract
Being subject to time and budget constraints, researchers have to decide on whether to attend
academic conferences, and if so, which conferences are associated with the best publication
outcomes. Based on acknowledgment information obtained from footnotes of more than 3,000
research articles published in finance journals, we first argue that conference participation constitutes an important factor when publishing research articles in top finance journals. We further
track the publication status of more than 4,000 research articles presented at the most popular
finance conferences in 2008. Thereby, we arrive at a ranking of 45 finance conferences with the
highest appearance rates in top finance journals. In doing so, we provide finance researchers
with guidance so they can decide on which conferences to attend.
Keywords: Finance conference, ranking, benchmarking, conference quality, publication success
We thank Vidhan Goyal, Christoph Kaserer, and Raghavendra Rau for helpful comments and support. We
further thank our students who supported us in collecting relevant data for this article. In particular, we thank
Mathias Furtner, Klaus Gast, Lars Haffke, Oliver Lauche, Nele Merkel, Lotta Opderbeck, Mona Stranghner and
Ozan Uluca. The usual caveat applies.
October 13, 2015
1. Introduction
Finance researchers tend to spend considerable amounts of time at conferences. Unfortunately, little is known about the quality of finance conferences. This far, there is no systematic
ranking of finance conferences, helping researchers to decide on which conferences to participate
in, either as presenting authors, discussants, or interested audience.1 This often comes as a
problem since researchers have to decide on whether to attend academic conferences, and if so,
which conferences are associated with the best publication outcomes, while facing travel budget
restrictions and time constraints at the same time.2
Conference participation may matter for publication success for several reasons. Questions
and discussions by other conference participants provide authors with helpful feedback so that
they can improve their research articles. Presenting at prestigious conferences may also serve
as a door-opener, help to convince journal editors and referees, and signal the quality of a
scientists research. Furthermore, conferences may serve as an opportunity to obtain information
on the views of potential referees so that authors can incorporate the referees comments and
suggestions before submitting their articles to journals. Moreover, referees might also remember
the discussants as well as the audiences questions and opinions, which might influence their
reports to the editors. Conferences also enable researchers to disseminate their work and to
extend their professional network. Finally, by attending conferences, researchers can gain an
overview of current and future scientific trends. Thus, conference participation might be of
particular importance in times of decreasing journal acceptance rates3 and the high relevance of
publications in the tenure-track system.4
In this paper, we present a ranking of 45 finance conferences. We thereby provide finance
researchers with guidance so that they can decide on which conferences to attend. To this
1
One notable exemption is a study by Johnson et al. (2002) which provides descriptive statistics on five
well-known finance conferences.
2
In contrast to conferences, finance journals, researchers, or academic institutions are frequently ranked. See
for example Alexander Jr. and Marby (1994), Borokhovich et al. (2000), Smith (2004), Chen and Huang (2007)
and Currie and Pandher (2011) for research on finance journal rankings. Evidence on the importance and rankings
of institutions and researchers can be found in Klemkosky and Tuttle (1977a), Klemkosky and Tuttle (1977b),
Heck et al. (1986), Heck and Cooley (1988), Chan et al. (2002), Chan and Fok (2003), and Kim et al. (2009).
3
For example, in 2013, there have been 1,300 editorial decisions at the Journal of Finance. The acceptance
rate was 5%. Ten years earlier, the acceptance rate amounted to 8% for a sample of 1,191 editorial decisions. A
similar notion for economics journals can be found in Conley et al. (2012).
4
Tuckman and Leahey (1975) and Sauer (1988), for example, investigate monetary implications of publications,
which are highest for assistant and associate professors.
end, we proceed in two steps. First, we collect acknowledgment information obtained from
acknowledgment footnotes of 3,319 research articles published in the following nine finance
journals over the 2010 to 2013 period: Review of Financial Studies (RFS), Journal of Finance
(JOF), Journal of Financial Economics (JFE), Review of Finance (ROF), Journal of Financial
and Quantitative Analysis (JFQA), Journal of Corporate Finance (JCF), Financial Management
(FM), Journal of Banking and Finance (JBF), and Journal of Empirical Finance (JEF).
We argue that conference participation constitutes an important factor when publishing research articles in top finance journals. The systematic presence of references to conferences in
articles published in finance (and economics) journals is consistent with the view that conferences are an important cornerstone throughout the publication process, at least with regard to
finance journals. In other fields of research, such as the management literature, acknowledgments
referring to conferences or seminars seem to be much less prevalent. In addition, we find that
65% of all research articles in the dataset have been presented at conferences before publication
and that the average research article in the dataset has been presented at two conferences before
publication. Furthermore, 60% of published articles have been presented at university seminars
before publication and the average article personally acknowledges about 10 people.
We further document large differences in terms of the number of personal acknowledgments,
the number of conferences, and the number of university seminars referred to in these finance
journals. For these characteristics, we find economically and statistically significant differences
between the TOP3 finance journals (RFS, JOF, and JFE) and the other non-TOP3 finance
journals in the sample. Within the subsample of non-TOP3 finance journals, research articles
published in the JFQA and ROF also exhibit higher numbers of personal acknowledgments, conferences, and university seminars compared to the other non-TOP3 finance journals. Finally,
among the latter, articles appearing in the JCF and FM also refer to more personal acknowledgments, conferences, and university seminars than the JBF and JEF. Overall, conference and
seminar participation are likely to be more important in better journals.
Based on acknowledgment information in published articles, we can also provide new evidence
on appearance rates of finance conferences in the respective journals. For instance, we find that
28% (23%) of all research articles published in the JOF have been presented at annual meetings
of the American Finance Association (Western Finance Association). Moreover, across the nine
finance journals in the sample, 13% of all research articles have previously been presented at
annual meetings of the Financial Management Association. Thus, the annual meeting of the
Financial Management Association represents the conference with the highest penetration rate
among the nine finance journals in the sample. All in all, some conferences can be seen as a
strong quality signal throughout the publication process.
However, our first dataset is non-random in a sense that it only considers research articles
that have been published in the above finance journals. To mitigate potential concerns, we collect
another dataset of 4,383 research articles presented at the 45 finance conferences with available
conference program in 2008.5 For each article listed in the programs of these conferences, we
track the publication status as of August 2014. We collect information on the articles authors,
the authors universities, and, if published, the journal name and its impact factor.
Based on this second dataset, we find that about 10% (18%) of all research articles presented
at those conferences have subsequently been published or accepted for publication in the RFS,
JOF, or JFE (in all nine finance journals listed above) by August 2014. We also document
considerable differences in publication outcomes across the conferences. We further show that
authors attend conferences with a better rank more shortly before publication. Thus, it is likely
that authors submit their articles to journals once they have presented their work at a conference
that is deemed to be a strong signal of paper quality or where they have received more helpful
feedback. Thus, the last conferences that appear in acknowledgment footnotes are likely to be
the best ones.
Finally, there is a large number of small finance conferences with very high publication rates
among TOP3 finance journals. The best small finance conferences, based on publication rates
in top finance journals are the NBER Corporate Finance Conference, the European Winter Finance Conference, and the Utah Winter Finance Conference. These conferences, however, are
exclusive in a sense that a small number of universities accounts for most of the presentations
at those conferences. In contrast, there is a limited number of larger finance conferences, i.e.,
conferences with more than 30 individual presentations, that arrive at substantial publication
rates in the best finance journals. Overall, large conferences with high publication rates in top
finance journals are the Society for Financial Studies (SFS) Finance Cavalcade conference, the
annual meetings of the American Finance Association (AFA) and the Western Finance Associ5
The only exemption is the Society for Financial Studies (SFS) Finance Cavalcade conference for which we
use the program of the first conference in 2011.
ation (WFA), the Financial Intermediation Research Society (FIRS) Conference, the European
Finance Association (EFA) Meeting, and the China International Conference. The fact that
these conferences take place in the U.S., Europe, and Asia also illustrates the internationality
of the finance research community. Finally, there are some conferences such as the Northern
Finance Association (NFA) Meeting, the Financial Management Association (FMA) Asia Conference, or the Financial Management Association (FMA) Meeting, whose papers are likely to
appear in highly regarded non-TOP3 journals such as the JCF or FM. In contrast, articles
presented at lower-tier conferences are less likely to show up in TOP9 finance journals.
Overall, we use this information to arrive at the first large-scale finance conference ranking.
In addition, we present additional information on the most prominent conferences such as submission deadlines and conferences dates. Thereby, we wish to help authors deciding on which
conferences to attend. In doing so, the evidence in the paper might be helpful throughout the
promotion, tenure, and review processes. Although it is difficult to identify causal effects of
conference participation on publication success (as we cannot measure paper quality directly),
the evidence at least suggests which conferences had the best papers on the program and which
conferences have been attended by the most successful researchers. Furthermore, the data compiled in this paper also reveal cross-sectional variation in the number of acknowledgments, the
number of conferences, and the number of university seminars across the nine finance journals.
The remainder of this paper proceeds as follows: In Section 2, we explain the dataset. In
Section 3, we provide empirical results as well as the Finance Conference Ranking. Section 4
concludes.
2. Data
We proceed in two steps to construct a finance conference ranking. First, we construct a
Journal Sample based on all research articles published between 2010 and 2013 in nine (TOP9)
finance journals: Review of Financial Studies (RFS), Journal of Finance (JOF), Journal of
Financial Economics (JFE), Review of Finance (ROF), Journal of Financial and Quantitative
Analysis (JFQA), Journal of Corporate Finance (JCF), Financial Management (FM), Journal
of Banking and Finance (JBF), and Journal of Empirical Finance (JEF).
Overall, we collect data on 3,319 published research articles in these journals. For each
article, we retrieve names of the authors as well as their university affiliations. Then, from each
research articles acknowledgment footnote, we obtain the following information: (1) the number
of individuals to whom acknowledgments personally refer to, (2) the number of institutions to
which acknowledgments directly refer to, (3) whether the identity of the referee is known to the
authors, (4) information on attended (finance) conferences, and (5) the number of university
seminars at which the research article has been presented before publication. In doing so, we
arrive at more than 1,500 unique conferences. Thereof, we select 82 conferences with more than
10 appearances in the TOP9 finance journals mentioned above.6
In order to avoid selection bias, we construct a second sample, which we refer to as the
Tracking Sample. The Tracking Sample consists of 4,383 research articles presented at 45 pure
finance conferences with an available conference program for 2008. The only exemption is
the Society for Financial Studies (SFS) Finance Cavalcade Conference, for which we use the
program of the first conference in 2011. For each article presented at those conferences, we
track the publication status as of August 2014. We collect information on its authors, their
universities, and, if published (or accepted for publication), the journal name and its impact
factor. We decide for the 2008 program versions because conferences programs are only scarcely
available before 2008. In contrast, a longer time lag ensures that there is sufficient time between
the conference date and August 2014 for potential publication.7 By opting for the 2008 program
versions, we wish to balance program availability on the one hand and lengthy publication times
on the other hand.
Table 1 provides descriptive statistics for the Journal Sample and the Tracking Sample.
Variable definitions can be found in Appendix A. On average, there are about 2.38 authors per
research article (# Authors), 9.88 personal acknowledgments (# THX Persons), 0.79 acknowledgments to institutions (# THX Institutions). In 7% of all cases, the referee is known to the
authors (Known Referee). The average research article has been presented at 1.99 conferences
(# Conferences) and 3.28 university seminars (# Seminars). Only 35% (40%) of the published
research articles have not been presented at a conference (a seminar) before publication. Finally,
6
The Financial Management Association UC Davis Napa Conference does not appear in the conference ranking
because it arrived at a slightly lower number. Still, this conference is associated with a high publication rate in
particular in accounting journals.
7
For instance, Ellison (2002) documents that review times have doubled for the five most important economics
journals over the 1970 to 1999 period and that the average review time was 16.5 months based on a sample of 25
economics and related journals in 1999. Additional evidence on publication lags can for example be found in Coe
and Weinstock (1967), Yohe (1980), and Trivedi (1993).
a universitys rank is given by the average rank of the 2013 Academic Ranking of World Universities (Shanghai Ranking), the 2013 Times Higher Education World University Rankings, and
the 2013/2014 QS World University Rankings. Observations are missing if none of the rankings
is available for a given university. The average university rank of the publishing authors is 198
(Univ Rank).
Altogether, the high number of personal acknowledgments as well as conference and seminar participation frequencies suggest that communication represents an important cornerstone
throughout the finance publication process. On the one hand, researchers might obtain important feedback when discussing their work with colleagues, which might improve the quality of
their research articles. On the other hand, references to renowned researchers, conferences, or
seminars in the footnote section of (unpublished) research articles may serve as an important
signal of the quality of the research article. Thus, conference participation may constitute an
competitive advantage. This may be of particular importance when publishing in top journals
becomes more competitive (e.g., Ellison, 2002).
Table 1 about here
Of the 4,341 research articles included in the Tracking Sample, 49% have been published
in a journal or accepted for publication by August 2014 (Published), including publications in
non-TOP9 journals. The average impact factor of these journals is 2.11. Journal impact factors
are taken from Thomson Reuters and averaged over the 2009 to 2013 period. About 9% of the
research articles have subsequently been published in the TOP3 finance journals (RFS, JOF,
JFE), while 18% have appeared in the TOP9 finance journals (RFS, JOF, JFE, ROF, JFQA,
JCF, FM, JBF, JEF). The presenting authors average university rank is slightly lower than
the publishing authors university rank in the Journal Sample and amounts to 209 (Univ Rank
(Conf)).
3. Empirical results
3.1. Average article characteristics by journal
Table 2 provides descriptive statistics for each of the nine finance journals. Not surprisingly,
the number of authors per article is relatively constant across all journals. There are more
acknowledgments to individuals and institutions in TOP3 finance journals compared to lowerranked finance journals. In most cases, referees are unknown to the authors. This is different
for authors publishing in the JFQA where the authors of about 80% of the research articles
knew the identity of their reviewer.8 The number of attended conferences per published article
also varies considerably across the nine finance journals. As indicated by column (7), research
articles published in the RFS, JOF, and JFE have been presented most frequently at conferences, with the average number of conference presentations amounting to about three in these
journals. Furthermore, in these journals the lowest fraction of articles has not been presented
at a conference before publication. Similarly, research articles published in these journals have
been presented at more university seminars compared to those research articles published in the
other TOP9 finance journals.
Table 2 about here
The cross-sectional variation in the number of acknowledgments, the number of conferences,
and the number of university seminars across the nine finance journals hints at differences in
the quality and competitiveness of these finance journals. As can be seen in the lower part
of the table, there are economically and statistically large differences between research articles
published in TOP3 finance journals and those published in non-TOP3 TOP9 finance journals.
Within the subsample of non-TOP3 finance journals, the JFQA and ROF also have higher
numbers of personal acknowledgments, conferences, and university seminars in their footnotes
compared to the other non-TOP3 finance journals. The differences are statistically different from
zero at the 1%-level (not shown in the table). Finally, among the remaining four conferences, the
JCF and FM also refer to more personal acknowledgments, conferences, and university seminars
in their footnotes than the JBF and JEF. The differences are again statistically different from
zero at the 1%-level (not shown in the table).
Overall, presentations at conferences and seminars are likely to be an important step towards
a publication in a top finance journal, which again illustrates the importance of communication
in the research processin particular when publishing in the TOP3 finance journals.
8
After acceptance for publication, the editor asks the referee whether he or she wishes to reveal his or her
identity.
The other 37 non-finance conferences that appear most frequently in finance journals are listed in Appendix B.
The other 37 non-finance conferences that appear most frequently in finance journals are listed in Appendix C.
articles published in the JOF have been presented at annual meetings of the American Finance
Association (Western Finance Association). For the RFS (JFE) these numbers correspond to
24% and 24% (17% and 17%) for the AFA and WFA meetings. In contrast, other large finance
conferences such as the European Financial Management Association Conference or the Northern
Finance Association Meetings have lower appearance rates in TOP9 finance journals. Overall,
the Table 4 suggests that there are some conferences which are likely to serve as a strong quality
signal throughout the publication process as they frequently appear in top finance journals.
Table 4 about here
3.4. Publication success of finance conferences
Table 5 provides various summary statistics for the 45 finance conferences included in the
Tracking Sample as well as the conference ranking. The table is sorted according to the share
of research articles published in the TOP3 finance journals (column (8)). The table reads as
follows: Out of the research articles presented at the National Bureau of Economic Research
(NBER) Corporate Finance Conference in the year 2008, 64% have finally been published in
one of the TOP3 finance journals.
Based on the ordering in column (8), columns (2) to (4) provide the conference ranking for all
conferences, conferences with at most 30 accepted research articles, and conferences with more
than 30 accepted research articles, respectively. Column (5) gives the conference size in 2008.
Column (6) represents the share of research articles from the 2008 conference that have been
published or accepted for publication as of August 2014. Column (7) gives the average impact
factor of the journals in which the research articles presented at the respective conferences have
subsequently been published. Columns (8) and (9) provide the share of research articles that
have finally been published in the TOP3 or TOP9 finance journals, respectively. Column (10)
represents the share of TOP3 publications relative to all TOP9 publications. Finally, the last
column shows the average university rank of the presenting authors.
Table 5 about here
Figure 1 about here
Overall, 10% (18%) of all articles presented at the 45 finance conferences have been published
or accepted for publication in the TOP3 (TOP9) finance journals by August 2014. There are
9
also considerable differences in publication outcomes across the conferences. On the one hand,
there is a large number of small finance conferences with very high publication rates among top
finance journals. For instance, 93% of all research articles presented at the National Bureau of
Economic Research (NBER) Corporate Finance Conference have subsequently been published
with an average impact factor of 4.05.11 On the other hand, there is only a limited number of
larger finance conferences with more than 30 presentations that arrive at substantial publication
rates in the best finance journals. Thus we present both an overall conference ranking in column
(2) for all finance conferences as well as two separate rankings for smaller and bigger conferences,
in columns (3) and (4).
Out of the 42 research articles presented at the Society for Financial Studies (SFS) Finance
Cavalcade conference, 62% have subsequently been published in the TOP3 finance journals
even though research articles presented at this conference had about three years less time to
appear in a journal as we rely on the 2011 program of this conference. Thus, the Society
for Financial Studies (SFS) Finance Cavalcade conference is the best large finance conference
according to the subsequent publication rates in TOP3 finance journals.
Furthermore, 40% (28%) of research articles presented at the 2008 Annual Meeting of the
American Finance Association (Western Finance Association) have subsequently been published
in the RFS, JOF, or JFE. Other large conferences with high publication rates in top finance
journals are the Financial Intermediation Research Society (FIRS) Conference, the European
Finance Association (EFA) Meeting, and the China International Conference, which also illustrates the internationality of the finance research community.
Finally, there are some conferences such as the Northern Finance Association (NFA) Meeting,
the Financial Management Association (FMA) Asia Conference, or the Financial Management
Association (FMA) Meeting, whose papers are likely to appear in highly regarded non-TOP3
journals such as the JCF or FM, as indicated by the last column of Table 6. These conferences
are, among others, the Northern Finance Association (NFA) Meeting, the Financial Management
Association (FMA) Asia Conference, or the Financial Management Association (FMA) Meeting.
In contrast, articles presented at even lower-tier conferences are less likely to show up in TOP9
finance journals.
11
Notably, the Rothschild Caesarea Center Conference has a very high post-conference impact factor because a
large fraction of research articles has subsequently been published in economics journals with high impact factors.
10
11
last conference. The American Finance Association (AFA) Meetings, for example, are in
80% of cases (together with other conferences in the same year) the most recent conference before
publication. Other conferences that are relatively likely to appear shortly before publication are
the Society for Financial Studies (SFS) Finance Cavalcade Conference, European Winter Finance
Conference, and the Western Finance Association (WFA) Conference.
Table 7 about here
3.6. University representation at finance conferences
Table 8 provides the three universities with the highest number of articles presented at
each of the 45 conferences included in the Tracking Sample. Furthermore, in the last column,
we present the fraction of research articles from these three universities relative to the overall
number of research articles presented at that conference.
There are five conferences (the NBER Corporate Finance Conference, the NBER Asset
Pricing Summer Institute, the Utah Winter Finance Conference, the European Winter Finance
Conference, and the Duke Corporate Finance Conference), for which the three most frequently
presenting universities represent more than 50% of the overall number of accepted research
articles. Interestingly, at the same time, the same conferences represent those with the highest
TOP3 journal publication rates, as shown in Table 5. However, none of these conferences
accepted more than 14 articles in 2008.
In contrast, larger conferences are much more diverse in terms of the university background
of the authors. For instance, at the Society for Financial Studies (SFS) Finance Cavalcade
conference, 36% of the presentations have been held by the top three most frequently presenting
universities, whereas this ratio equals 19% for the American Finance Association (AFA) Annual
Meetings, 21% for the Western Finance Association (WFA) Conference, 15% for the Financial
Intermediation Research Society (FIRS) Conference, 14% for the European Finance Association
(EFA) Conference, and 16% for the China International Conference.
Figure 2 shows that the highest-ranked small finance conferences are also the most exclusive
conferences.12 In contrast, there does not seem to be any correlation between conference rank
and conference exclusivity for bigger conferences.
12
Conference exclusivity is measured as fraction of research articles presented by the three universities with the
highest number of presentations per conference.
12
Overall, there is a large number of small finance conferences with high publication in TOP3
finance journals. However, these conferences appear to be rather exclusive in terms of the
authors university background. Some of those conferences do not even have formal submission
procedures. Thus, while being accepted into the programs of these conferences is potentially
helpful throughout the publication process, the probability of becoming accepted is certainly
higher at larger finance conferences such as the AFA or WFA meetings.
Table 8 about here
Figure 2 about here
4. Conclusion
Being subject to time and budget constraints, researchers have to decide on whether to attend
academic conferences, and if so, which conferences are associated with the best publication
outcomes. In this paper, we present a ranking of 45 finance conferences. We thereby provide
finance researchers with guidance so they can decide on which conferences to attend. To this
end, we proceed in two steps.
First, we collect acknowledgment information obtained from acknowledgment footnotes of
3,319 research articles published in nine finance journals over the 2010 to 2013 period. We show
that conference participation constitutes an important factor when publishing research articles
in top finance journals.
Second, we focus on another sample of 4,383 research articles presented at 45 pure finance
conferences with available conference program as of 2008. For each article presented at those
conferences, we track the publication status as of August 2014. Based on this dataset, we highlight considerable variation in the publication outcomes as well as timing across the conferences.
On the one hand, there is a large number of small, exclusive finance conferences with high
publication rates among top finance journals. However, only a small number of universities
accounts for most of the presentations at these conferences. On the other hand, there is only a
limited number of finance conferences with more than 30 presentations that arrive at substantial
publication rates in the best-ranked finance journals. Finally, there are also some finance conferences with a low share of TOP3 (RFS, JOF, JFE) publications that arrive simultaneously at
a high share of non-TOP3 publications. Finally, there are some conferences such as the Northern Finance Association (NFA) Meeting, the Financial Management Association (FMA) Asia
13
Conference, or the Financial Management Association (FMA) Meeting, whose papers are likely
to appear in highly regarded non-TOP3 journals such as the JCF or FM. In contrast, articles
presented at lower-tier conferences are less likely to show up in TOP9 finance journals.
Ultimately, we use this information to arrive at the first large-scale finance conference ranking. We present further information on the most prominent conferences such as submission
deadlines and conferences dates. Based on our two datasets, we also document that conferences
are likely to be an important cornerstone of modern academic finance research. In doing so, the
evidence in the paper might be helpful throughout the promotion, tenure, and review processes.
Although it is difficult to identify causal effects of conference participation on publication success
(as we cannot measure paper quality directly), the evidence at least suggests which conferences
had the best papers on the program and which conferences have been attended by the most
successful researchers. Furthermore, the data compiled in this paper also reveals cross-sectional
variation in the number of acknowledgments, the number of conferences, and the number of
university seminars across the nine finance journals.
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9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45
Rank
Published
TOP9
TOP3
Figure 1: Rank (abscissa) denotes a conferences rank from Table 5. Fraction (ordinate) represents the fraction of published articles. Published refers to the
fraction of research articles that have been published in a journal or accepted for publication by August 2014. TOP3 is the fraction of research articles that
have been published in the TOP3 finance journals or have been accepted for publication in these journals by August 2014. TOP9 is the fraction of research
articles that have been published in the TOP9 finance journals or have been accepted for publication in these journals by August 2014.
Fraction
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Figure 2: Rank (abscissa) is a conferences rank from Table 5. Conference exclusivity (ordinate) is the fraction of research articles presented by the three
universities with the highest number of presentations per conference, taken from Table 8. Conferences are sorted into groups of small and large conferences.
Conference exclusivity
Mean
25%
50%
75%
SD
2.00
8.00
0.00
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1.00
0.00
170
3.00
14.00
1.00
0.00
3.00
1.00
5.00
1.00
308
0.86
9.07
1.24
0.25
2.26
0.48
4.41
0.49
145
0.00
1.70
0.00
0.00
187
1.00
3.75
0.00
0.00
342
0.50
1.36
0.29
0.39
152
Journal Sample
# Authors
# THX Persons
# THX Institutions
Known Referee
# Conferences
No Conference
# Seminars
No Seminar
Univ Rank
3,319
3,319
3,319
3,319
3,319
3,319
3,319
3,319
2,901
2.38
9.88
0.79
0.07
1.99
0.35
3.28
0.40
198
2.00
3.00
0.00
0.00
0.00
0.00
0.00
0.00
74
Tracking Sample
Published
I Impact Factor
TOP3
TOP9
Univ Rank (Conf)
4,383
1,525
4,383
4,383
3,126
0.49
2.14
0.10
0.18
215
0.00
0.95
0.00
0.00
86
This table provides summary statistics for the main variables. The first
part of the table refers to variables related to research articles published
in top finance journals over the 2010 to 2013 period. The second part of
the table refers to variables related to research articles presented at finance
conferences in 2008. A detailed explanation of all variables can be found in
Appendix A.
18
19
3,319
Total
2.41
2.36*
2.38
2.38
2.43
2.44
2.35
2.44
2.40
2.44
2.35
2.29
# Authors
p3q
15.13
7.04***
10.18
15.97
16.98
13.73
11.50
12.56
9.77
8.94
5.55
5.06
# THX
Persons
p4q
0.91
0.72***
0.81
1.00
1.15
0.73
0.71
0.99
0.42
0.70
0.77
0.90
# THX
Institutions
p 5q
0.05
0.07***
0.07
0.00
0.00
0.12
0.00
0.80
0.00
0.00
0.00
0.00
Known
Referee
p 6q
2.91
1.50***
1.99
3.00
2.92
2.84
2.14
2.09
1.88
1.70
1.32
0.86
# Conferences
p 7q
0.21
0.43***
0.35
0.16
0.24
0.23
0.32
0.24
0.30
0.32
0.49
0.62
No Conference
p8q
6.25
1.67***
3.28
6.92
8.26
4.67
3.18
3.79
2.25
1.92
1.08
1.02
# Seminars
p9q
0.16
0.53***
0.40
0.13
0.11
0.20
0.31
0.25
0.34
0.35
0.65
0.65
No Seminar
(10)
120
246***
198
117
102
132
176
200
250
255
262
245
Univ
Rank
(11)
This table depicts descriptive statistics regarding journal publications. Column (2) shows the number of published research articles over the 2010 to 2013
period. Columns (3) to (5) give the average number of authors per research article, the average number of individuals to whom acknowledgments refer
to, and the number of institutions the acknowledgments refer to. While column (6) reflects the share of research articles that know the identity of their
respective referee, column (7) gives the average number of conferences at which published research articles have been presented. Column (8) is the fraction
of research articles that has not been presented at a conference before publication. Column (9) refers to the average number of business schools or university
seminars at which the research articles have been presented. Column (8) is the fraction of research articles that has not been presented at a seminar before
publication. Column (11) is the average rank of the authors affiliated universities, where a universitys rank is given by the average rank of the 2013
Academic Ranking of World Universities (Shanghai Ranking), the 2013 Times Higher Education World University Rankings, and the 2013/2014 QS World
University Rankings. The table is sorted in decreasing order according to column (7). In the lower part of the table, TOP3 refers to the RFS, JOF, and
JFE, and Non-TOP3 to the other six finance journals. ***, **, and * indicate significance at the 1%-, 5%-, and 10%-levels, respectively. Variable definitions
and acronyms are explained in Appendix A.
1,163
2,156
408
256
499
130
201
292
163
1,136
234
RFS
JOF
JFE
ROF
JFQA
JCF
FM
JBF
JEF
TOP3
Non-TOP3
# Research
Articles
p 2q
Journal
p 1q
20
Name
p1q
444
312
312
303
152
141
130
120
110
97
95
74
54
54
44
36
33
28
28
28
25
25
24
22
21
21
21
19
19
19
18
Articles
Published
p2q
660
194
240
204
171
252
251
222
161
255
391
187
209
231
108
76
111
n.a.
12
79
17
15
26
46
191
10
10
10
13
8
15
Conference
Size (2013)
p3q
January
March
March
November
November
January
January
February
March
September
November
August
January
March
April
November
April
n.a.
March
October
n.a.
n.a.
December
January
September
September
November
October
February
February
January
Submission
Month
p4q
October
January
August
June
May
June
July
June
September
April
March
December
June
November
October
May
May
April
July
April
August
April / November
May
June
March
February
March
January
July
April
October
Conference
Month
p5q
3
3
3
4
4
4
4
3
3
4
3
3
2
4
2
3
2
5
2
1
3
2
3
3
2
3
4
3
2
1
1
Duration
(days)
p6q
25
6
6
6
5
10
5
10
6
9
13
8
8
7
5
4
2
3
1
7
1
1
5
1
6
1
1
1
1
1
2
Parallel
Sessions
p7q
21
18
18
18
18
15
15
14
14
13
13
12
12
11
11
Articles
Published
p2q
15
227
8
12
10
9
10
74
10
47
n.a.
8
18
22
Conference
Size (2013)
p3q
August
December
n.a.
November
November
May
September
December
November
August
n.a.
n.a.
May
n.a./August
Submission
Month
p4q
December
June
December
May
April
July
January
May
March
December
n.a.
November
September
April/October
Conference
Month
p5q
2
3
2
2
2
2
2
4
1
1
2
1
2
6
Duration
(days)
p6q
3
4
1
2
1
1
2
8
1
4
4
1
1
1
Parallel
Sessions
p7q
This table shows the 45 finance conferences that appear most frequently in footnotes of research articles published in nine finance journals over the 2010 to 2013 period. Column
(2) shows the number of total appearances in the nine finance journals and column (3) the number of research articles presented in 2013 at the respective conference. Missing
numbers either indicate that there was no conference in 2013 or that no conference program could be found. Column (4) provides the month of the submission deadline for the
2013 conference. Column (5) gives the month of the conference itself. Column (6) gives the duration of the conference in days and column (7) the number of parallel sessions.
The table is sorted in decreasing order according to column (2). The other 37 non-finance conferences that appear most frequently in finance journals are listed in Appendix B.
Name
p1q
22
0.07
0.24
0.18
0.24
0.13
0.02
0.06
0.02
0.03
0.00
0.01
0.01
0.01
0.00
0.02
0.01
0.00
0.00
0.01
0.00
0.02
0.01
0.03
0.02
0.00
0.02
0.01
0.01
0.02
0.02
0.00
0.01
0.00
0.01
RFS
Name
0.04
0.28
0.18
0.23
0.10
0.00
0.07
0.01
0.03
0.00
0.01
0.00
0.00
0.00
0.00
0.01
0.02
0.00
0.03
0.00
0.01
0.03
0.01
0.01
0.00
0.01
0.01
0.02
0.00
0.02
0.00
0.02
0.00
0.03
JOF
0.08
0.17
0.16
0.17
0.07
0.02
0.07
0.03
0.05
0.02
0.02
0.01
0.00
0.01
0.01
0.02
0.01
0.00
0.02
0.01
0.01
0.02
0.01
0.01
0.01
0.01
0.01
0.01
0.02
0.01
0.01
0.01
0.00
0.01
JFE
0.15
0.06
0.19
0.06
0.06
0.05
0.05
0.01
0.05
0.02
0.05
0.00
0.00
0.01
0.06
0.02
0.01
0.01
0.02
0.02
0.02
0.01
0.00
0.01
0.02
0.01
0.00
0.01
0.01
0.01
0.00
0.00
0.01
0.00
ROF
0.25
0.10
0.13
0.12
0.04
0.10
0.08
0.04
0.04
0.03
0.00
0.03
0.00
0.01
0.01
0.00
0.00
0.00
0.00
0.01
0.01
0.00
0.00
0.01
0.00
0.00
0.00
0.00
0.00
0.01
0.02
0.00
0.00
0.01
JFQA
0.28
0.04
0.07
0.04
0.02
0.09
0.04
0.07
0.04
0.08
0.05
0.01
0.01
0.04
0.01
0.00
0.01
0.00
0.00
0.00
0.01
0.00
0.00
0.00
0.00
0.00
0.01
0.00
0.00
0.00
0.01
0.00
0.00
0.00
JCF
0.40
0.05
0.06
0.04
0.02
0.10
0.02
0.06
0.06
0.09
0.06
0.01
0.01
0.06
0.01
0.02
0.01
0.01
0.00
0.01
0.00
0.00
0.00
0.00
0.03
0.01
0.00
0.00
0.00
0.00
0.01
0.00
0.00
0.01
FM
0.11
0.01
0.02
0.01
0.01
0.04
0.01
0.05
0.02
0.03
0.04
0.05
0.04
0.02
0.01
0.01
0.01
0.02
0.00
0.01
0.00
0.00
0.00
0.00
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.01
0.00
JBF
0.09
0.00
0.04
0.01
0.00
0.03
0.00
0.02
0.03
0.03
0.01
0.01
0.00
0.00
0.00
0.00
0.00
0.01
0.00
0.00
0.00
0.00
0.00
0.01
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.01
0.00
JEF
0.13
0.09
0.09
0.09
0.05
0.04
0.04
0.04
0.03
0.03
0.03
0.02
0.02
0.02
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
Sample
23
0.00
0.02
0.01
0.01
0.01
0.01
0.00
0.00
0.00
0.00
0.00
0.03
0.01
0.01
0.01
0.01
0.01
0.01
0.00
0.01
0.00
0.03
JOF
0.02
0.01
0.01
0.02
0.01
0.01
0.01
0.00
0.01
0.01
0.01
JFE
0.00
0.00
0.00
0.00
0.00
0.01
0.00
0.00
0.00
0.02
0.00
ROF
0.00
0.00
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
JFQA
0.00
0.00
0.00
0.00
0.00
0.00
0.01
0.01
0.00
0.00
0.00
JCF
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.01
0.00
0.00
0.00
FM
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
JBF
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
JEF
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Sample
This table shows the fraction of research articles published in nine finance journals over the 2010 to 2013 period that have previously been presented at the finance conferences
listed in Table 3. For instance, the entry 0.07 for the Financial Management Association (FMA) Meeting and the RFS suggests that 7% of the footnotes of research
articles published in the RFS over the 2010 to 2013 period included a reference to Financial Management Association (FMA) meetings. Entries the same or greater than
0.05 are marked in bold and italics. The other 37 non-finance conferences that appear most frequently in finance journals are listed in Appendix C. Acronyms are explained
in Appendix A.
RFS
Name
24
Name
p1q
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
Rank
p2q
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
-
Rank
(Small)
p3q
1
2
3
4
5
6
7
8
9
10
11
Rank
(Big)
p4q
14
42
9
10
11
9
12
145
18
13
8
12
6
144
28
8
21
22
136
222
11
17
17
178
6
70
17
103
18
60
46
47
Conference
Size (2008)
p5q
0.93
0.71
0.67
0.80
0.73
0.89
0.58
0.69
0.72
0.46
0.63
0.50
0.50
0.53
0.61
0.75
0.62
0.68
0.49
0.53
0.36
0.47
0.59
0.43
0.50
0.53
0.53
0.48
0.22
0.53
0.46
0.51
Published
p6q
4.05
3.89
4.05
3.36
3.77
3.90
4.46
3.24
3.60
3.63
3.60
3.25
3.37
3.11
2.95
4.50
3.43
2.52
2.77
2.69
3.31
3.15
2.13
2.69
3.94
2.37
2.39
2.40
3.05
1.55
2.09
1.80
Impact
Factor
(7)
p9q
TOP9
0.64
0.67
0.56
0.60
0.45
0.44
0.42
0.50
0.44
0.38
0.38
0.50
0.33
0.38
0.29
0.25
0.29
0.23
0.29
0.34
0.18
0.18
0.35
0.25
0.17
0.24
0.18
0.26
0.17
0.15
0.15
0.23
p8q
TOP3
0.64
0.62
0.56
0.50
0.45
0.44
0.42
0.40
0.39
0.38
0.38
0.33
0.33
0.28
0.25
0.25
0.24
0.23
0.21
0.21
0.18
0.18
0.18
0.17
0.17
0.14
0.12
0.12
0.11
0.07
0.07
0.06
1.00
0.93
1.00
0.83
1.00
1.00
1.00
0.81
0.88
1.00
1.00
0.67
1.00
0.74
0.88
1.00
0.83
1.00
0.73
0.63
1.00
1.00
0.50
0.69
1.00
0.59
0.67
0.44
0.67
0.44
0.43
0.27
Share
TOP3
(10)
21
134
198
31
50
25
52
112
80
206
26
134
19
119
135
97
30
98
164
166
86
104
80
157
49
221
188
198
182
220
219
197
Univ Rank
(Conf)
(11)
25
33
34
35
36
37
38
39
40
41
42
43
44
45
Rank
p2q
Rank
(Small)
p3q
12
13
14
15
16
17
18
19
20
21
22
23
24
Rank
(Big)
p4q
4,383
253
44
718
82
80
183
173
368
217
402
157
140
86
Conference
Size (2008)
p5q
0.49
0.57
0.52
0.56
0.40
0.44
0.47
0.43
0.39
0.41
0.40
0.37
0.44
0.57
Published
p6q
2.14
1.57
1.52
1.62
1.51
1.51
1.54
1.63
1.33
1.34
1.31
1.37
1.26
1.04
Impact
Factor
(7)
0.14
0.20
0.18
0.10
0.18
0.13
0.09
0.09
0.09
0.06
0.03
0.08
0.06
0.05
0.05
0.04
0.04
0.03
0.02
0.02
0.01
0.01
0.01
0.01
0.00
0.00
0.18
TOP9
TOP3
0.10
p9q
p8q
0.52
0.34
0.22
0.25
0.38
0.14
0.17
0.20
0.12
0.10
0.13
0.25
0.00
0.00
Share
TOP3
(10)
215
247
185
263
230
212
207
323
243
297
267
277
226
284
Univ Rank
(Conf)
(11)
This table shows descriptive statistics for the 2008 versions of selected finance conferences for which a conference program could be obtained. The only exemption is the Society for
Financial Studies (SFS) Finance Cavalcade conference for which we use the program of the first conference in 2011. Columns (2) to (4) provide the conference ranking according to
column (8) for all conferences, conferences with at most 30 accepted research articles, and conferences with more than 30 accepted research articles, respectively. Column (5) shows
the number of research articles presented in 2008 at the respective conference. Column (6) represents the fraction of research articles that have been published in a journal or accepted
for publication by August 2014. Column (7) shows the average impact factor of the journals at which research articles of the respective conference have been accepted by August
2014. Journal impact factors are taken from Thomson Reuters and averaged over the 2009 to 2013 period. Column (8) represents the fraction of research articles that have been
published in the TOP3 finance journals or have been accepted for publication in these journals by August 2014. Column (9) represents the fraction of research articles that have been
published in the TOP9 finance journals or have been accepted for publication in these journals by August 2014. Column (10) is the share of TOP3 publications relative to all TOP9
publications. Column (11) is the average rank of the authors affiliated universities, where a universitys rank is given by the average rank of the 2013 Academic Ranking of World
Universities (Shanghai Ranking), the 2013 Times Higher Education World University Rankings, and the 2013/2014 QS World University Rankings. Observations are missing if none
of the rankings is available for a given university. The table is sorted in decreasing order according to column (8). Variable definitions and acronyms are explained in Appendix A.
Total
Name
p1q
26
Name
42
14
10
9
12
145
11
9
18
12
13
8
144
17
222
6
136
28
21
103
178
8
70
47
22
44
11
17
17
718
80
6
18
Conference
Size (2008)
0.24
0.21
0.30
0.22
0.17
0.17
0.27
0.22
0.00
0.00
0.08
0.13
0.10
0.00
0.06
0.17
0.09
0.11
0.10
0.03
0.07
0.00
0.03
0.00
0.09
0.00
0.00
0.00
0.18
0.01
0.03
0.17
0.00
RFS
0.21
0.21
0.00
0.33
0.08
0.09
0.09
0.22
0.28
0.25
0.08
0.13
0.06
0.00
0.07
0.17
0.06
0.11
0.10
0.01
0.04
0.25
0.04
0.02
0.00
0.00
0.18
0.06
0.00
0.01
0.00
0.00
0.00
JOF
0.17
0.21
0.20
0.00
0.08
0.14
0.09
0.00
0.11
0.17
0.23
0.13
0.12
0.18
0.09
0.00
0.07
0.04
0.05
0.08
0.06
0.00
0.07
0.04
0.14
0.05
0.00
0.06
0.00
0.03
0.00
0.00
0.11
JFE
0.02
0.00
0.00
0.00
0.08
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.01
0.00
0.01
0.00
0.01
0.00
0.05
0.00
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.01
0.06
0.00
0.06
ROF
0.02
0.00
0.00
0.00
0.08
0.04
0.00
0.00
0.06
0.00
0.00
0.00
0.06
0.06
0.04
0.00
0.02
0.00
0.00
0.02
0.02
0.00
0.01
0.02
0.00
0.00
0.00
0.00
0.00
0.02
0.00
0.00
0.00
JFQA
0.00
0.00
0.00
0.00
0.00
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.01
0.06
0.02
0.00
0.00
0.00
0.00
0.02
0.01
0.00
0.00
0.00
0.00
0.02
0.00
0.00
0.00
0.03
0.01
0.00
0.00
JCF
0.00
0.00
0.10
0.00
0.00
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.01
0.00
0.01
0.00
0.00
0.03
0.01
0.00
0.00
0.02
0.00
0.02
0.00
0.00
0.00
0.02
0.00
0.00
0.00
FM
0.00
0.00
0.00
0.00
0.00
0.02
0.00
0.00
0.00
0.00
0.00
0.00
0.01
0.06
0.03
0.00
0.03
0.04
0.00
0.07
0.03
0.00
0.07
0.13
0.00
0.11
0.00
0.06
0.00
0.05
0.08
0.00
0.00
JBF
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.01
0.00
0.00
0.00
0.00
0.01
0.01
0.00
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.01
0.00
0.00
0.00
JEF
Share
TOP3
0.93
1.00
0.83
1.00
0.67
0.81
1.00
1.00
0.88
1.00
1.00
1.00
0.74
0.50
0.63
1.00
0.73
0.88
0.83
0.44
0.69
1.00
0.59
0.27
1.00
0.22
1.00
0.67
1.00
0.25
0.14
1.00
0.67
TOP9
0.67
0.64
0.60
0.56
0.50
0.50
0.45
0.44
0.44
0.42
0.38
0.38
0.38
0.35
0.34
0.33
0.29
0.29
0.29
0.26
0.25
0.25
0.24
0.23
0.23
0.20
0.18
0.18
0.18
0.18
0.18
0.17
0.17
27
46
60
253
183
82
368
217
173
140
86
402
157
Conference
Size (2008)
0.02
0.02
0.01
0.01
0.02
0.00
0.00
0.01
0.00
0.00
0.00
0.00
RFS
0.02
0.02
0.02
0.01
0.00
0.01
0.00
0.00
0.00
0.00
0.00
0.00
JOF
0.02
0.03
0.02
0.01
0.01
0.01
0.00
0.01
0.00
0.00
0.01
0.01
JFE
0.00
0.02
0.01
0.01
0.01
0.01
0.00
0.01
0.00
0.00
0.00
0.00
ROF
0.00
0.00
0.02
0.00
0.00
0.01
0.01
0.01
0.01
0.00
0.00
0.00
JFQA
0.02
0.03
0.02
0.01
0.00
0.01
0.03
0.02
0.00
0.00
0.00
0.00
JCF
0.00
0.00
0.01
0.01
0.00
0.00
0.00
0.01
0.00
0.00
0.01
0.00
FM
0.04
0.02
0.03
0.08
0.05
0.05
0.02
0.03
0.07
0.05
0.03
0.02
JBF
0.02
0.02
0.00
0.01
0.00
0.01
0.01
0.00
0.00
0.01
0.00
0.00
JEF
Share
TOP3
0.43
0.44
0.34
0.17
0.38
0.12
0.10
0.20
0.00
0.00
0.13
0.25
TOP9
0.15
0.15
0.14
0.13
0.10
0.09
0.09
0.09
0.08
0.06
0.06
0.03
This table shows the fraction of research articles published in nine finance journals that have previously been presented at the 2008 versions of selected finance conferences for
which a conference program could be obtained. For instance, the entry 0.21 for the National Bureau of Economic Research (NBER) Corporate Finance Conference and the
RFS suggests that 21% of the research articles presented at the National Bureau of Economic Research (NBER) Corporate Finance Conference in 2008 have been published in or
accepted at the RFS by August 2014. The table is sorted in decreasing order according to the second to last column, i.e., the fraction of research articles that have been published
in the TOP9 finance journals or have been accepted for publication in these journals by August 2014. Share TOP3 is the fraction of TOP3 publications of all TOP9 publications.
Entries the same or greater than 0.05 are marked in bold and italics. Acronyms are explained in Appendix A.
Name
p1q
Name
28
p2q
p3q
p 4q
p5q
p6q
p7q
Rank
Rank
(Small)
Rank
(Big)
Articles
Published
N(Later
Conf.)
P(Last
Conf.)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
-
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
14
19
21
15
25
18
312
28
15
19
18
14
303
24
18
11
22
152
312
12
25
21
130
13
36
11
110
18
28
33
13
120
12
444
28
44
74
54
141
97
95
21
54
18
2.25
1.27
1.39
1.54
2.30
2.57
2.00
1.28
2.53
2.00
1.25
1.75
2.71
1.35
1.33
2.67
2.38
1.85
1.57
1.78
2.63
2.10
1.60
1.81
2.14
1.78
1.63
2.37
1.94
1.46
2.48
1.50
1.62
2.18
1.71
1.67
1.89
2.15
1.62
2.05
1.59
1.35
1.59
1.33
1.14
0.33
0.75
0.74
0.63
0.54
0.22
0.27
0.80
0.26
0.29
0.64
0.40
0.30
0.73
0.32
0.27
0.33
0.65
0.55
0.53
0.50
0.25
0.61
0.58
0.33
0.66
0.44
0.37
0.50
0.69
0.39
0.36
0.66
0.25
0.58
0.45
0.42
0.44
0.63
0.54
0.67
0.77
0.53
0.64
0.71
29
30
3
13
13
2
4
3
6
2
2
14
2
3
10
2
2
5
2
5
2
11
16
10
7
12
8
Harvard
National Taiwan
Goethe (Frankfurt)
Maryland
NYU
MIT
Texas (Austin)
Copenhagen (Business)
Harvard
UofT
Texas (Austin)
British Columbia
Goethe (Frankfurt)
Arizona State
Tilburg
NSYU
Utah
HEC
Harvard
Chicago
UNSW
LBS
Hacettepe
SMU
Univ of Penn
5
3
3
2
2
Chicago
NYU
Univ of Penn
LBS
LBS
Univ 1
Name
3
3
2
10
11
10
4
9
7
KAIST
Toulouse
Indiana
Univ of Penn
Monash
Chicago
City Univ London
Chinese Univ (HK)
Washington (St. Louis)
British Columbia
Muenster
5
2
3
4
11
2
3
3
5
2
2
2
2
North Carolina
Aarhus
Urbana-Champaign
Yuan Ze
Mannheim
Utah
Chicago
Yale Univ
Harvard
Berkeley
Columbia
Duke
Harvard
Univ 2
INSEAD
Univ of Penn
Harvard
Queensland
Harvard
Monash
HKUST
Boston College
UNSW
Mannheim
York Univ
2
2
9
9
8
4
8
5
4
2
2
2
Oxford
Harvard
Michigan
Lausanne
3
3
11
Michigan
MIT
HKUST
Muenster
2
2
2
MIT
Univ of Penn
Harvard
Univ 3
0.86
0.78
0.70
0.56
0.55
0.50
0.50
0.50
0.45
0.44
0.42
0.41
0.38
0.38
0.36
0.35
0.33
0.31
0.31
0.29
0.27
0.26
0.25
0.24
0.23
0.22
0.22
0.21
0.21
0.20
0.19
0.17
0.16
0.15
Fraction
31
Drexel
Tilburg
EDHEC
Trinity Coll. (Dublin)
Florida Atlantic
Drexel
Goethe (Frankfurt)
City Univ London
South Florida
Cass
Penn State
4
12
4
7
6
7
13
7
4
8
17
#
Cornell
LBS
HKUST
College Dublin
Florida Int.
South Florida
Texas (San Antonio)
Oklahoma
New Orleans
Athens (Economics)
Oklahoma
Univ 2
3
10
2
6
6
7
12
7
4
8
14
#
Chinese Univ (HK)
NYU
Univ of York
Vienna (Econ)
Radford
EBS
Indiana
Tilburg
St. Cloud
Sydney
South Carolina
Univ 3
3
9
2
5
6
6
10
7
4
8
14
0.14
0.14
0.13
0.13
0.10
0.09
0.09
0.08
0.08
0.07
0.06
Fraction
The table shows the three universities with the most research article presentations at the respective conferences in 2008. Empty cells indicate that there have only been universities
with at most one research article accepted. After each university, the number of accepted research articles is provided. The last column gives the share of research articles from
the three top universities per conference relative to the total number of presentations per conference, where empty university cells are set to one when calculating these fractions.
University abbreviations are explained in Appendix D.
Univ 1
Name
Appendix
Appendix A: Definition of variables and abbreviations.
Variable
Description
Journal Sample
# Authors
# THX Persons
# THX Institutions
Known Referee
# Conferences
No Conference
# Seminars
No Seminar
Univ Rank
Tracking Sample
Published
Impact Factor
TOP3
TOP9
Share TOP3
Univ Rank (Conf)
Fraction of research articles that have been published in a journal or accepted for
publication by August 2014.
Average impact factor of the journals at which research articles of the tracked conference have been accepted by August 2014. Journal impact factors are taken from
Thomson Reuters and are averaged over the 2009 to 2013 period.
Fraction of research articles that have been published in the TOP3 finance journals
(Review of Financial Studies, Journal of Finance, or Journal of Financial Economics)
or have been accepted for publication in these journals by August 2014.
Fraction of research articles that have been published in the TOP9 finance journals
(Review of Financial Studies, Journal of Finance, Journal of Financial Economics,
Review of Finance, Journal of Financial and Quantitative Analysis, Journal of Corporate Finance, Financial Management, Journal of Banking and Finance, or Journal
of Empirical Finance) or have been accepted for publication in these journals by August 2014.
Share of TOP3 publications relative to all TOP9 publications.
Average rank of the authors affiliated universities, where a universitys rank is given
by the average rank of the 2013 Academic Ranking of World Universities (Shanghai
Ranking), the 2013 Times Higher Education World University Rankings, and the
2013/2014 QS World University Rankings. Observations are missing if none of the
rankings is available for a given university.
32
Description
Journal abbreviations
RFS
JOF
JFE
ROF
JFQA
JCF
FM
JBF
JEF
33
34
Name
p1q
70
51
45
40
35
35
35
32
30
29
25
20
18
18
17
17
17
16
16
15
15
14
14
14
14
13
13
12
12
12
11
Articles
Published
p2q
51
108
34
44
386
n.a.
287
76
157
12
12
10
120
n.a.
75
219
10
370
731
34
1,806
423
10
6
63
102
780
n.a.
n.a.
708
1,900
Conference
Size (2013)
p3q
April
February
February
March
July
February
March
January
July
January
n.a.
November
n.a.
November
April
February
December
n.a.
February
February
March
April
February
September
n.a.
August
March
December
March
May
January
Submission
Month
p4q
January
June
June
July
November
August
June
August
October
May
April / November
June
n.a.
May
November
June
July
June
June
May/June
September
January
August
December
April / November
December
July
April/May
May/June
December
June
Conference
Month
p5q
35
11
11
11
11
11
11
Articles
Published
p2q
104
n.a.
n.a.
74
144
139
Conference
Size (2013)
p3q
February
n.a.
February
n.a.
n.a.
n.a.
Submission
Month
p4q
July
n.a.
August
n.a.
June
n.a.
Conference
Month
p5q
This table shows the 37 other conferences that appear most frequently in footnotes of research articles published in nine finance journals over the
2010 to 2013 period. Column (2) shows the number of total appearances in the nine finance journals and column (3) the number of research articles
presented in 2013 at the respective conference. Missing numbers either indicate that there was no conference in 2013 or that no conference program
could be found. Column (4) provides the month of the submission deadline for the 2013 conference. Column (5) gives the month of the conference
itself. The table is sorted in decreasing order according to column (2).
Name
p1q
36
0.05
0.01
0.04
0.02
0.02
0.01
0.00
0.00
0.01
0.02
0.01
0.01
0.01
0.02
0.01
0.01
0.00
0.01
0.01
0.01
0.02
0.00
0.00
0.01
0.00
0.00
0.00
0.00
0.01
0.00
0.00
0.01
0.00
0.00
RFS
Name
0.05
0.01
0.04
0.06
0.01
0.00
0.00
0.00
0.01
0.01
0.05
0.04
0.01
0.02
0.00
0.00
0.00
0.01
0.01
0.00
0.00
0.00
0.00
0.00
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.01
0.01
JOF
0.04
0.03
0.03
0.01
0.03
0.01
0.00
0.02
0.03
0.02
0.01
0.01
0.01
0.01
0.01
0.00
0.00
0.02
0.02
0.00
0.00
0.01
0.00
0.01
0.02
0.00
0.00
0.00
0.01
0.01
0.00
0.01
0.00
0.01
JFE
0.02
0.01
0.01
0.04
0.00
0.02
0.01
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.01
0.00
0.01
0.01
0.00
0.00
0.01
0.00
0.00
0.02
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.01
ROF
0.01
0.00
0.00
0.01
0.02
0.00
0.00
0.01
0.00
0.00
0.00
0.01
0.01
0.00
0.00
0.01
0.00
0.00
0.00
0.01
0.00
0.00
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.01
0.00
JFQA
0.01
0.03
0.00
0.00
0.00
0.00
0.00
0.02
0.03
0.02
0.00
0.00
0.00
0.00
0.01
0.00
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.01
0.00
0.00
0.00
0.01
0.00
0.00
0.00
JCF
0.00
0.02
0.00
0.00
0.01
0.01
0.00
0.02
0.00
0.01
0.00
0.00
0.00
0.00
0.01
0.00
0.01
0.00
0.00
0.01
0.00
0.01
0.00
0.00
0.00
0.01
0.01
0.00
0.00
0.01
0.00
0.00
0.01
0.00
FM
0.01
0.01
0.00
0.00
0.00
0.02
0.03
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.01
0.01
0.00
0.00
0.01
0.00
0.00
0.00
0.00
0.00
0.01
0.01
0.01
0.00
0.00
0.01
0.00
0.00
0.00
JBF
0.00
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.02
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
JEF
0.02
0.02
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Sample
37
0.00
0.01
0.01
Finance Forum
Society for the Advancement of Economic Theory (SAET) Meeting
Stanford Institute for Theoretical Economics (SITE) Meeting
0.00
0.00
0.01
JOF
0.00
0.00
0.01
JFE
0.00
0.01
0.00
ROF
0.00
0.00
0.00
JFQA
0.00
0.00
0.00
JCF
0.00
0.00
0.00
FM
0.01
0.00
0.00
JBF
0.00
0.00
0.00
JEF
0.00
0.00
0.00
Sample
This table shows the fraction of research articles published in nine finance journals over the 2010 to 2013 period that have previously been presented at the other conferences
listed in Appendix B. Entries the same or greater than 0.05 are marked in bold and italics. See Table 4 for an example of how to read the table. Acronyms are explained in
Appendix A.
RFS
Name
Aarhus
Arizona State
Athens (Economics)
Berkeley
Boston College
British Columbia
Cass
Chicago
Chinese Univ (HK)
City Univ London
College Dublin
Columbia
Copenhagen (Business)
Cornell
Drexel
Duke
EBS
EDHEC
Florida Atlantic
Florida Int.
Goethe (Frankfurt)
Hacettepe
Harvard
HEC
HKUST
Indiana
INSEAD
KAIST
Lausanne
LBS
Mannheim
Maryland
Michigan
MIT
Monash
Muenster
National Taiwan
New Orleans
North Carolina
NSYU
NYU
Oklahoma
Oxford
Aarhus Univ
Arizona State Univ
Athens Univ of Economics and Business
Univ of California Berkeley
Boston College
Univ of British Columbia
Cass Business School
Univ of Chicago
Chinese Univ of Hong Kong
City Univ London
Univ College Dublin
Columbia Univ
Copenhagen Business School
Cornell Univ
Drexel Univ
Duke Univ
EBS University of Business and Law
EDHEC Business School
Florida Atlantic Univ
Florida International University
Goethe Univ Frankfurt
Hacettepe Univ
Harvard Univ
HEC Paris
Hong Kong University of Science and Technology
Indiana Univ Bloomington
INSEAD
Korea Advanced Institute of Science and Technology
Univ of Lausanne
London Business School
Mannheim Univ
Uni of Maryland
Univ of Michigan
MIT
Monash Univ
Univ Muenster
National Taiwan Univ
Univ of New Orleans
Univ of North Carolina
National Sun Yat-sen University
New York Univ
Univ of Oklahoma
Oxford Univ
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Penn State
Queensland
Radford
SMU
South Carolina
South Florida
St. Cloud
Sydney
Texas (Austin)
Texas (San Antonio)
Tilburg
Toulouse
Trinity Coll. (Dublin)
Univ of Penn
Univ of York
UNSW
UofT
Urbana-Champaign
Utah
Vienna (Econ)
Washington (St. Louis)
Yale Univ
York Univ
Yuan Ze
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