Template-type: ReDIF-Paper 1.0
Author-Name: Chia-Lin Chang
Author-Email: changchialin@nchu.edu.tw
Author-Person: pch286 
Author-Workplace-Name: Department of Applied Economics, Department of Finance, National Chung Hsing University
	Taichung, Taiwan
Author-Name: Michael McAleer
Author-Person: pmc90 
Author-Workplace-Name: Econometric Institute, Erasmus School of Economics, Erasmus University Rotterdam and Tinbergen Institute,
	The Netherlands, Department of Quantitative Economics, Complutense University of Madrid, and Institute of
	Economic Research, Kyoto University
Title: What do Experts Know About Ranking Journal Quality? A Comparison with ISI Research Impact in Finance
Abstract: Experts possess knowledge and information that are not publicly available. The paper is concerned with 
	the ranking of academic journal quality and research impact using a survey of experts from a national 
	project on ranking academic finance journals. A comparison is made with publicly available bibliometric 
	data, namely the Thomson Reuters ISI Web of Science citations database (hereafter ISI) for the Business 
	- Finance category. The paper analyses the leading international journals in Finance using expert scores 
	and quantifiable Research Assessment Measures (RAMs), and highlights the similarities and differences in 
	the expert scores and alternative RAMs, where the RAMs are based on alternative transformations of 
	citations taken from the ISI database. Alternative RAMs may be calculated annually or updated daily to 
	answer the perennial questions as to When, Where and How (frequently) published papers are cited (see 
	Chang et al. (2011a, b, c)). The RAMs include the most widely used RAM, namely the classic 2-year impact 
	factor including journal self citations (2YIF), 2-year impact factor excluding journal self citations 
	(2YIF*), 5-year impact factor including journal self citations (5YIF), Immediacy (or zero-year impact 
	factor (0YIF)), Eigenfactor, Article Influence, C3PO (Citation Performance Per Paper Online), h-index, 
	PI-BETA (Papers Ignored - By Even The Authors), 2-year Self-citation Threshold Approval Ratings (2Y-STAR), 
	Historical Self-citation Threshold Approval Ratings (H-STAR), Impact Factor Inflation (IFI), and Cited 
	Article Influence (CAI). As data are not available for 5YIF, Article Influence and CAI for 13 of the 
	leading 34 journals considered, 10 RAMs are analysed for 21 highly-cited journals in Finance. Harmonic 
	mean rankings of the 10 RAMs for the 34 highly-cited journals are also presented. It is shown that 
	emphasizing the 2-year impact factor of a journal, which partly answers the question as to When published 
	papers are cited, to the exclusion of other informative RAMs, which answer Where and How (frequently) 
	published papers are cited, can lead to a distorted evaluation of journal impact and influence relative 
	to the Harmonic Mean rankings. A simple regression model is used to predict expert scores on the basis 
	of RAMs that capture journal impact, journal policy, the number of high quality papers, and quantitative 
	information about a journal.
Classification-JEL: C18, C81, C83.
Keywords: Expert scores, Journal quality, Research assessment measures, Impact factor, IFI, C3PO, PI-BETA, STAR, 
	Eigenfactor, Article Influence, h-index.
Length: 28 pages 
Creation-Date: 2012 
Number: 2012-01 
X-File-Ref: http://america.sim.ucm.es/repec/ucm/ref/doicae1201.txt
File-URL: https://eprints.ucm.es/id/eprint/14091/1/1201.pdf
File-Format: Application/pdf
Handle: RePEc:ucm:doicae:1201