Fisher ties with Harvard for effective development of finance faculty researchers, study says

A new study published by three finance professors provides evidence that suggests “that faculty who are affiliated with elite research institutions are more productive than other scholars,” according to a January 2009 article in The Financial Review.

In the study "Pedigree or Placement? An Analysis of Research Productivity in Finance," Fisher tied for 10th place with Harvard as one of the nation’s best institutions for supporting and developing new faculty in producing top research. The researchers’ analysis placed Fisher’s finance PhD program eighth for enhancing the publication record of its students in the top three influential finance journals.

The study was conducted by Kam Chan of Western Kentucky University, Carl Chen of University of Dayton, and Hung-Gay Fung of the University of Missouri-St. Louis. The authors looked at the joint contribution of universities granting PhD degrees and the institutions graduates are placed at as assistant professors.

The study also shows that graduates of top research institutions are more productive in finance research than graduates from other institutions.

They examined a comprehensive publishing database of articles in 21 leading finance journals from 1990 to 2004. Using complex mathematical models, the researchers analyzed the articles to determine the effects of where scholars earned PhD degrees and their job placement on research productivity. The authors created a “familiarity-rank position index” of the top influential financial journals to create a ranking of 50 business schools. Fisher placed 11th among the 50 institutions with placements in influential research publications.

“Our results for the top three finance journals indicate a significant pedigree effect in finance publishing, implying that graduates from top doctoral programs on average publish more than others in the top three finance journals,” the authors wrote in the article. “A result that supports the saying, ‘Success breeds more success,’ ” the researchers added.

In Their Own Words

Ingrid M. Werner
"Fisher places heavy emphasis on research, and our faculty are renowned for their contributions to the academe. Based on Social Science Research Network (SSRN) downloads, an online measure of research productivity and impact, the college ranks 17th in the nation."

Ingrid M. Werner, PhD Program Director
Martin and Andrew Murrer Professor of Finance

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