Academic journal article Real Estate Economics

A Note on Ranking Real Estate Research Journals

Academic journal article Real Estate Economics

A Note on Ranking Real Estate Research Journals

Article excerpt

Real estate is an emerging academic discipline with no clear consensus on the rank and importance of real estate journals. Attempts to rank journals in the field or measure research output are either dated because the population of journals has changed, or the studies have limited data or methodology problems. This study builds on the previous studies by surveying both academic and professional members of the two major academic real estate organizations [(the American Real Estate and Urban Economics Association (AREUEA) and the American Real Estate Society (ARES)] to gain understanding of the relative importance of each journal to the promotion and tenure process and in providing information directly applicable to professional practice.

As the field continues to grow, new academic and professional journals emerge as publishing outlets for academic real estate research. However, unlike more fully evolved fields, such as economics and finance, academic real estate has no consensus of journal rankings for promotion and tenure or professional applicability. A primary concern of this paper is to classify journals into one of two groups, academic or professional, based on the perceptions of survey respondents.

Journal rankings and bibliometric research have been conducted in other business fields. Howard and Nisolai (1983) measured the perceptions toward publishing outlets in the field of accounting. Coe and Weinstocks (1983) examined the evaluation of finance journals. Chung and Cox (1990) studied patterns of research output and author concentrations in the finance journals.

Attempts have also been made to rank journals and conduct bibliometric analysis in the field of real estate. In the first study of academic research in real estate, Albert and Chandy (1986) surveyed the members of AREUEA and were able to produce a subjective ranking of the top twenty journals and the ten most influential academics but could not find consensus on the most influential articles. The data were reported in descriptive fashion with no statistical analysis.

Smith and Greenwade (1987) addressed the perceived rankings of real estate publications and their impact in meeting the tenure requirements at American Assembly of Collegiate Schools of Business (AACSB) member schools. The authors surveyed approximately 400 deans of business schools randomly selected from the 1986-87 AACSB Membership Directory. This study produced a journal ranking list that was different from the Albert and Chandy survey.

Chung and Kolbe (1991) departed from the survey rankings of journals and concentrated their study on article authorship. They examined seventeen real estate journals to see if the pattern of research productivity in real estate conforms to an empirical regularity such as Lotka's Law, which proposes that scientific productivity is dominated by a few "superstars," much like other fields of human endeavor. The results show that a generalized version of Lotka's Law is an excellent description of the empirical distribution of research patterns in the real estate literature. Further, real estate was found to have a lower author concentration than other related fields, a phenomenon the authors attribute to its youth.

Clauretie and Daneshvary (1993) ranked individuals who published in three major real estate journals [AREUEA Journal (changed to Real Estate Economics in 1995), Journal of Real Estate Research and Journal of Real Estate Finance and Economics]. The results show that the top twenty authors were more diversified with respect to the fields in which they publish than their colleagues. Also, some publications are more influential than others, being more frequently cited by other authors. Sa-Aadu and Shilling (1988) compiled the rankings of the contributing authors to the AREUEA Journal, the origins of their doctoral degrees and their employers from 1973 to 1987. The contributing authors were diverse over this period, with doctoral degrees from 74 institutions and more than 180 employers. …

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