Job Market Signaling: What Drives the Productivity of Finance Ph.D.s?

We study the research productivity of new finance Ph.D.s as measured by the number of quality publications. A commonly accepted notion is that the highest ranked schools produce the candidates with the greatest potential for high-quality publications. Our results, however, find publications or revis...

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Bibliographic Details
Published inFinancial management Vol. 40; no. 2; pp. 483 - 513
Main Authors Flagg, Donald, Gilley, Otis W., Park, Jung Chul
Format Journal Article
LanguageEnglish
Published Melbourne, Australia Blackwell Publishing Asia 01.06.2011
Wiley Subscription Services
Financial Management Association
Blackwell Publishing Ltd
Subjects
Analysis
Author productivity
Doctoral programs
Economics education
Finance
Graduations
Higher education
Hiring
Journal productivity
Labor market
Labor productivity
Labour market
Linear regression
MBA programs & graduates
Periodical indexing
Productivity
Qualifications
Resumes
Scholarly publishing
School publications
Studies
United States
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Summary:We study the research productivity of new finance Ph.D.s as measured by the number of quality publications. A commonly accepted notion is that the highest ranked schools produce the candidates with the greatest potential for high-quality publications. Our results, however, find publications or revisions in top-tier journals during the doctoral program are a stronger measure of potential research productivity than the school attended. Our findings demonstrate how candidates outside of the top schools can signal their future research productivity. Even though we examine the specialized labor market, our results have broader implications for markets outside academics.
Bibliography:ArticleID:FIMA1150
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We would like to acknowledge without implication Johnny Chan, Bill Christie (Editor), Campbell Harvey, Gordon Karels, Raylene Pierce‐Maberly (FMA discussant), Jianping Qi, Bill Workman, doctoral students in FINC610 at Louisiana Tech University, seminar participants at the 2008 Financial Management Association Meeting, as well as an anonymous referee for their helpful comments and suggestions that have improved this paper. We also thank FMA for providing the Annual Resume Book.
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ISSN:0046-3892
1755-053X
DOI:10.1111/j.1755-053X.2011.01150.x