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Robust Ranking of Journal Quality: An Application to Economics

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Chang, Chia-Lin and Maasoumi, Esfandiar and McAleer, Michael (2012) Robust Ranking of Journal Quality: An Application to Economics. [ Documentos de Trabajo del Instituto Complutense de Análisis Económico (ICAE); nº 05, 2012, ] (Unpublished)

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Official URL: http://eprints.ucm.es/14791/


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Abstract

The paper focuses on the robustness of rankings of academic journal quality and research impact in general, and in Economics, in particular, based on the widely-used Thomson Reuters ISI Web of Science citations database (ISI). The paper analyses 299 leading international journals in Economics using quantifiable Research Assessment Measures (RAMs), and highlights the similarities and differences in various RAMs, which are based on alternative transformations of citations. All existing RAMs to date have been static, so two new dynamic RAMs are developed to capture changes in impact factor over time and escalating journal self citations. Alternative RAMs may be calculated annually or updated daily to determine When, Where and How (frequently) published papers are cited (see Chang et al. (2011a, b, c)). The RAMs are grouped in four distinct classes that include impact factor, mean citations and non-citations, journal policy, number of high quality papers, and journal influence and article influence. These classes include the most widely used RAMs, 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), Eigenfactor (or Journal Influence), Article Influence, h-index, and PI-BETA (Papers Ignored - By Even The Authors). As all existing RAMs to date have been static, two new dynamic RAMs are developed to capture changes in impact factor over time (5YD2 = 5YIF/2YIF) and Escalating Self Citations. We highlight robust rankings based on the harmonic mean of the ranks of RAMs across the 4 classes. 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 quality, impact and influence relative to the harmonic mean of the ranks.


Item Type:Working Paper or Technical Report
Uncontrolled Keywords:Research assessment measures, Impact factor, IFI, C3PO, PI-BETA, STAR, Eigenfactor, Article Influence, h-index, 5YD2, ESC, Harmonic mean of the ranks, Economics, Journal rankings.
Subjects:Social sciences > Economics > Econometrics
Social sciences > Library science and documentation > Information retrieval
JEL:C18, C81, Y10
Series Name:Documentos de Trabajo del Instituto Complutense de Análisis Económico (ICAE)
Volume:2012
Number:05
ID Code:14791
Deposited On:10 Apr 2012 10:07
Last Modified:17 Jun 2016 09:31

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