Science Watch® - Tracking Trends and Performance in Basic Research
November/December 2005


 Taking Care of Business, 1995-2005

The focus now switches from the bench to the boardroom, as it were, with a survey of highly cited research in economics & business over the last decade. Using figures from Essential Science Indicators Web product, Thomson Scientific’s web-based evaluation tool and database, Science Watch presents the most-cited institutions, authors, and journals in the field since 1995. The table on the next page ranks institutions according to two measures: total citations (left-hand column) and citations per paper (or impact, at right). Most-cited researchers and journals appear on the next page as well.

Most-Cited Journals in
Economics & Business, 199
5-2004

(Ranked by citations to papers published
and cited between 1995 and 2005)
Rank      Journal Citations
1 American Economic Review 19,617
2 Journal of Finance 15,664
3 Academy of Management Journal 13,656
4 Strategic Management Journal 12,993
5 Management Science 12,121
6 Quarterly Journal of Economics 10,710
7 Academy of Management Review 10,507
8 Journal of Political Economy 9,258
9 Journal of Financial Economics 8,683
10 Econometrica 8,347
11 Administrative Science Quarterly 7,851
12 Journal of Economic Perspectives 7,687
13 Journal of Econometrics 7,453
14 Organization Science 7,053
15 Journal of Marketing 6,808
Thomson Scientific
Essential Science Indicators Web Product

These rankings are based on papers published and cited in nearly 200 Thomson Scientific-indexed journals of economics & business between 1995 and April 2005. The selected journals represent the subfields of economics, finance, accounting, and management.

In the total-citations ranking, no institution surpassed the National Bureau of Economic Research (NBER), headquartered in Cambridge, Massachusetts, and its 30,000+ citations. The NBER also represents something of a special case, since the "associate" authors under its auspices are based at other institutions, and both addresses are typically listed on their published papers. The most-cited NBER study in this survey, for example, "The economics of immigration," by George J. Borjas (J. Econ. Lit., 32[4]:1667-1717, 1994), cited approximately 270 times, carries both the NBER address and that of the University of California, San Diego. (Note: Borjas is now affiliated with Harvard University.) So, in this and every such instance, NBER and all other listed institutions receive equal citation credit. Clearly, the numbers indicate that NBER-affiliated authors have published significant research over the last decade, in the judgment of the wider economics & business community.

Ranking second among institutions, both in the total-citations and impact columns, is Harvard University. As it happens, the most-cited paper in this survey features a Harvard researcher, Gary Pisano, one of three co-authors of "Dynamic capabilities and strategic management," (Strategic Manage. J., 18[7]: 509-33, 1997), now cited more than 600 times. The paper’s first author, David J. Teece of the University of California, Berkeley, appears in the #10 spot in the table of highly cited researchers.

Along with Harvard and the NBER, two other institutions rank in the top five on both lists—the University of Chicago (first in impact), and MIT. All are part of a select group of seven that monopolizes the top 10 in each column: the aforementioned, along with Stanford University, Northwestern University, and the University of Pennsylvania. In all, the table offers a contrast from similar Science Watch rankings in which large, prolific Andrei Shleifer institutions typically dominate the total-citations list while smaller entities shine in the cites-per-paper column. Here, 18 institutions make the top 25 on both lists. It would seem that, in economics & business, the heavy hitters in output also produce, on a paper-by-paper basis, the weightiest research.

Among the authors, the top four names—Andrei Shleifer (pictured), Robert W. Vishny, Rafael LaPorta, and Florencio Lopez-de-Silanes—collaborate on two of this survey’s most-cited papers (R. LaPorta,et al., "Law and finance," J. Polit. Econ., 106[6]: 1113-55, 1998, cited nearly 400 times; and R. LaPorta, et al., "Legal determinants of external financing," J. Finance, 52[3]: 1131-50, 1997, with more than 330 citations).

An examination by country demonstrates the preponderant representation of U.S. and English-language papers in Thomson-indexed research in economics & business since 1995. In output and citations, the United States is first with 1,108 papers and 79,363 total citations. There are 132 papers with at least one England address, collectively accounting for 8,288 citations. Canada is next, with 58 papers tallying 4,120 citations, followed by France and its 33 papers cited 2,092 times.End of article

  Continued on the following page.

Science Watch®, November/December 2005, Vol. 16, No. 6
Citing URL: http://www.sciencewatch.com/nov-dec2005/sw_nov-dec2005_page1.htm

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