a research fellow, I have faced many challenges, such as technical problems
with the academic papers, high rejection rate in top tier journals, appropriate
topics, author/editor relationship, new/old scholar bias, abuse of editorial
power and many more. As one of the editors of Advanced Business and Finance, my
role is to ensure that contributors (1) have a fair review and (2) do not face
unnecessary challenges associated with publishing in typical finance journals.
In my opinion, a sound finance paper must provide solutions
to a financial problem and the quality of the work must be unquestionable.
Papers must clearly state what the problem is, plainly explain the methodology
used to address the problem and then provide a proposed solution. However, many
researchers bypass these basic elements and instead opt to follow influential
researchers associated with top tier journals. For instance, recently we have
seen numerous publications in the area of momentum trading when in fact we have
other serious and pressing financial problems that remain unexplored. In this journal,
we will encourage researchers to tackle such problems that mainstream journals
have failed to address.
The technique used to solve financial problems is critical.
It is extremely important to adopt the right methodology but we have seen an
abuse of econometric tools in finance papers. Instead of using the right tools,
researchers are using all available econometrics innovations to illustrate
methodological innovations. This leads to a problem whereby the focus of the
paper changes from problem solving to intellectual masturbation through the
inappropriate use of modeling. Such practices should be avoided as simple, well
established models can elegantly solve the problem at hand.
The theoretical background of a paper is crucial. Authors
must have a good knowledge of the literature. I have observed many academics
who failed to do so. It is my belief that these academics have an anchoring
bias as they only consider the work published in top tier journals while
ignoring the work of other scholars and disrespecting fellow researchers in the
process. It is not a good practice as this could lead to duplication of
efforts—a total waste of resources. A good paper must consider all prior work
to clearly demonstrate innovation, a depth of understanding and a thorough
review and consideration of all prior research in the area.
When I began my academic career, my research focused on
asset pricing models. To increase my publication outputs, I changed my focus to
momentum/contrarian trading strategies. Whilst it was a good strategy to
increase my research output, I did not get any personal satisfaction in terms
of solving problems. In fact, I felt trapped by the system. I have since
dedicated my time to behavioral finance, environmental finance and health
finance and I have been very satisfied with my research journey, outputs and
performance. My advice to other researchers is to find the research areas that
they are passionate about and to dedicate their time to these areas. Advanced
Business and Finance will embrace and provide a platform for passionate
As an editor of this journal, I will always welcome papers
in my areas of interest. Behavioral finance has achieved a significant status
whereby introduction to the topic is no longer required. However, environmental
finance and health finance are not. When researchers use financial tools and
literature to solve environmental and health problems, we can call it
environmental finance and health finance respectively. For example, event study
methodology has been used to test if abnormal returns are available around
announcements of environmental regulations and this kind of research can be
classified as environmental finance. Corporate governance researchers may want
to study how a board of directors are addressing the issues of climate change
and similarly finance researchers can apply their research expertise to solve
environmental challenges. Within the area of health finance, researchers can
study how insurance policies affect the quality of life of cancer patients etc.
As a global citizen, we face various problems in our day-to-day life and
studying the financial aspects of these problems is important—Advanced Business
and Finance welcomes such papers.
Editors tend to feed on their relationship with the authors.
I guess it is important to know that the research project has been conducted
with all due diligence and knowing the researcher removes a lot of information
asymmetry about the quality of the work. However, we have seen an abuse of this
relationship which creates inequity in the world of publishing—in this journal
every researcher will be given an equal chance. Successful researchers in
Advanced Business and Finance will be those who have met the basic elements of
a sound research paper and have tackled contemporary, relevant financial