Thirty Years of Academic Finance

60 Pages Posted: 7 Feb 2022 Last revised: 29 Aug 2022

See all articles by David Ardia

David Ardia

HEC Montreal - Department of Decision Sciences

Keven Bluteau

Université de Sherbrooke - Faculty of Administration

Mohammad Abbas Meghani

HEC Montreal - Department of Decision Sciences

Date Written: December 21, 2021

Abstract

We study how the financial literature has evolved in scale, research team composition, and article topicality across 32 finance-focused academic journals from 1992 to 2021. We document that the field has vastly expanded regarding outlets and published articles. Teams have become larger, and the proportion of women participating in research has increased significantly. Using the Structural Topic Model, we identify 45 topics discussed in the literature. We investigate the topic coverage of individual journals and can identify highly specialized and generalist outlets, but our analyses reveal that most journals have covered more topics over time, thus becoming more generalist. Finally, we find that articles with at least one woman author focus more on topics related to social and governance aspects of corporate finance. We also find that teams with at least one top-tier institution scholar tend to focus more on theoretical aspects of finance.

Keywords: Finance literature, Structural Topic Model (STM), topic modeling, text analysis, scientometrics

JEL Classification: D83, G00, G10

Suggested Citation

Ardia, David and Bluteau, Keven and Meghani, Mohammad Abbas, Thirty Years of Academic Finance (December 21, 2021). Available at SSRN: https://ssrn.com/abstract=3990436 or http://dx.doi.org/10.2139/ssrn.3990436

David Ardia (Contact Author)

HEC Montreal - Department of Decision Sciences ( email )

3000 Côte-Sainte-Catherine Road
Montreal, QC H2S1L4
Canada

Keven Bluteau

Université de Sherbrooke - Faculty of Administration ( email )

Sherbrooke, Québec J1K 2R1
Canada

Mohammad Abbas Meghani

HEC Montreal - Department of Decision Sciences ( email )

3000 Côte-Sainte-Catherine Road
Montreal, QC H2S1L4
Canada

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