Academic journal article Real Estate Economics

Influential Journals, Institutions and Researchers in Real Estate

Academic journal article Real Estate Economics

Influential Journals, Institutions and Researchers in Real Estate

Article excerpt

A threshold citation approach is used to measure the research influence of academic real estate journals, institutions and individual researchers. Real Estate Economics followed by The Journal of Real Estate Finance and Economics and Journal of Real Estate Research are the most influential real estate journals. Almost 63% of heavily cited works in core real estate journals are published in real estate journals. Twenty-one percent of the heavily cited works are published in Real Estate Economics. An overwhelming 80% of the citations of the 21 most heavily cited papers in real estate come from articles published in real estate journals. Even when real estate articles are published in top-tier finance and economics journals, the majority of the citations associated with these articles come from top real estate journals. This provides strong evidence of the existence of a distinct real estate research discipline. As compared to prior studies, an expanded universe of institutions is found to influence real estate research. Research-extensive universities generating high-quality economics, statistics and finance research influence the real estate discipline. The individuals that are most influential, however, are generally those with substantial real estate discipline specific research.

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Quantification of academic programs, departmental research productivity, individual research productivity, academic influence, the quality of academic journals and other measures of academic performance remains an illusive goal. The scope of the outcomes being measured, the goals of academic disciplines and differences in methodology make absolute quantification of performance difficult to assess. Notwithstanding the potential difficulty in evaluating performance, such assessment is very typical and very necessary in academia and is supported by multiple studies generating results that are interpretable in both narrow and broad contexts. The present study adds to the ability to evaluate research output and influence in the real estate discipline by using a threshold citation approach to assess the journals, institutions and individuals that are influential in the development of the theories and research applications within the real estate discipline. Additionally, the citation analysis highlights the distinctness of real estate as a separate academic discipline.

There have been a number of studies that have attempted to quantify the top real estate journals. In several studies journals have been ranked through the use of surveys. Webb and Albert (1995), Diaz, Black and Rabianski (1996) and Gibler and Ziobrowski (2002) use survey results to rank the most influential real estate journals. Redman, Manakyan and Tanner (1998, 1999) use citation data to analyze the important real estate journals. Hardin et al. (2006) use the publication outlets of editorial board members to gauge the importance of journals and find that Real Estate Economics, The Journal of Real Estate Finance and Economics, Journal of Real Estate Research and Journal of Urban Economics are the outlets favored by real estate editorial board members. In the present study, a threshold citation approach as used by Arnold et al. (2003) and Chan, Lung and Wolfe (2005) ranks the influence of real estate journals by their publication of heavily cited articles. In order of impact, Real Estate Economics, The Journal of Real Estate Finance and Economics and Journal of Real Estate Research are shown to be the academic real estate journals that generate the most influential works driving real estate research. Research in top-tier econometrics, economics and finance journals also provides part of the foundation for real estate research. The majority (62.60%) of all high-frequency citations are from real estate journals. Within the universe of real estate and related journals, the four most heavily cited journals are Real Estate Economics (20.80%), The Journal of Real Estate Finance and Economics (15. …

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