Letter from the Editor

Article excerpt

This note summarizes the recent activities of the journal and acknowledges the contributions of the Executive Committee, Associate Editors, referees, and staff of Financial Management and the Financial Management Association (FMA).

The following table provides the turnaround statistics and disposition of manuscripts for the past five years. The submission flow continues to be very strong. The average turnaround time remains between six and seven weeks from the date of submission to notifying authors of the editorial decision.

                                        Oct 05-   Oct 06-   Oct 07-
                                        Sept 06   Sept 07   Sept 08
Papers submitted                          196       300       299
Decisions made                            196       300       299
Papers accepted (rate)                  27(12%)   42(14%)   35 (12%)
Revision solicited                        60        84         68
Papers rejected by referee                94        143       142
Papers rejected by editor                 15        31         54
Papers outstanding

Turnaround time (as % of decisions made for refereed papers)

0 < weeks [less than or equal to] 5      45.8      39.8       15.1
5 < weeks [less than or equal to] 10     37.6      45.0       37.1
10 < weeks [less than or equal to] 15     7.7      10.4       31.8
15 < weeks [less than or equal to] 20     5.0       1.5       10.2
< 20 weeks                                3.9       3.3       5.8
Median turnaround time in days            37        40         68
Mean turnaround time in days              47        47         71

                                        Oct 08-    Oct 09-
                                        Sept 09    Sept 10
Papers submitted                          270        330
Decisions made                            270        291
Papers accepted (rate)                  35 (13%)   30(9%)
Revision solicited                         66        60
Papers rejected by referee                126        136
Papers rejected by editor                  43        65
Papers outstanding                                   39

Turnaround time (as % of decisions made for refereed papers)

0 < weeks [less than or equal to] 5       29.2      35.8
5 < weeks [less than or equal to] 10      49.1      47.8
10 < weeks [less than or equal to] 15     14.2      13.7
15 < weeks [less than or equal to] 20     6.2        2.7
< 20 weeks                                1.3        0.0
Median turnaround time in days             47        44
Mean turnaround time in days               53        46

Pearson/Prentice Hall Prize

The 2010 Pearson/Prentice Hall "Best Paper" prizes were awarded at the FMA meetings in October. The $7,500 winner was "International Evidence on Financial Derivatives Use," coauthored by Sohnke Bartram (Lancaster University/SSgA), Gregory Brown (University of North Carolina, Chapel Hill), and Frank Fehle (Automated Trading Desk, a Citi Company), which appeared in Volume 38 (1), Spring 2009. The second prize of $2,500 was presented to Ken Lehn (University of Pittsburg), Sukesh Patro (Northern Illinois University), and Mengxin Zhao (University of Alberta) for their paper "Determinants of the Size and Composition of Corporate Boards: 1935-2000," which appeared in Volume 38 (4), Winter 2009. The awards were determined by a vote of the Associate Editors from manuscripts published in Financial Management between Autumn 2008 and Summer 2010.

Napa Conference of Financial Markets Research

Financial Management continues to cosponsor a conference on research in financial markets in conjunction with the University of California, Davis. The most recent conference was held on April 30 and May 1 at the Cakebread Winery in Napa Valley, California. Each of the 123 submissions was reviewed by two members of a 42-person committee, resulting in six papers being selected for presentation (5% acceptance rate). …