We present and discuss a novel dataset on informal collaboration in financial economics, manually collected from more than 5,000 acknowledgement sections of published papers. We find that informal collaboration is the norm in financial economics, while generational differences in informal collaboration exist and reciprocity among collaborators prevails. Female researchers appear less often in acknowledgements than comparable male researchers. Information derived from networks of informal collaboration allows us to predict academic impact of both researchers and papers even better than information from co-author networks. Finally, we study the characteristics of the networks using various measures from network theory and characterize what determines a researcher’s position in it. The data presented here may help other researchers to shed light on an under-explored topic.
presentation given to Stan Garfield's SIKM group on August 21, 2018
What Does Done Look Like is the story of my 15 years as Chief learning Officer @ETS especially regarding my role in the creation, generation, reuse, application, and management of knowledge in order to create value. The presentation is in the form of a set of adages and aphorisms that sum up respectively and orientation to these knowledge activities, the criticality of understanding the role of change in such activities, and some implications and examples.
presentation given to Stan Garfield's SIKM group on August 21, 2018
What Does Done Look Like is the story of my 15 years as Chief learning Officer @ETS especially regarding my role in the creation, generation, reuse, application, and management of knowledge in order to create value. The presentation is in the form of a set of adages and aphorisms that sum up respectively and orientation to these knowledge activities, the criticality of understanding the role of change in such activities, and some implications and examples.
Ensuring Social Impact at Every Stage of Technology Research & DevelopmentJeremy Pesner
This is research I have published to help improve the extent to which research impacts society. I published this in the Journal of Science Policy and Governance in their special issue on the Future of Science Policy.
Oikos PRI Finance Academy 2015: Unpacking the Black BoxColin Habberton
This presentation was delivered on the 3rd June 2015 as a summary of the paper titled - 'Unpacking the Black Box: An investigaton into the decision-mkaing dynamics of South African institutional investors' - at the oikos PRI Young Scholars Academy hosted by Henley Business School at Reading University
1. Development Plan Career Activity. Respond to the followingAbbyWhyte974
1. Development Plan Career Activity
. Respond to the following:
· What are some of the key concepts that should be included in a career plan?
· What common mistakes do people make when developing a career plan?
Assignment Instructions
Write a one-page paper (not to exceed 250 words). You will be graded on the following:
· Quality of your response.
· Coherence and organization.
· Mechanics.
This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.
The specific course outcome associated with this assignment is:
· Develop a professional development strategy that fosters career readiness skills for master's-prepared health care administrators.
A guide to
Social Return
on Investment
January 2012
in association with
“For FRC Group using SROI has been a fascinating
process which has fine tuned our understanding of
the impacts that are achieved as we improve our
performance, and exposed areas in which we can
do more.”
Verity Timmins, Impact Manager, FRC Group
“At Impact Arts we have embraced SROI as one of our
central evaluation tools, which complements our existing
evaluation practice very well. SROI has clear benefits
for our organisation in terms of our future funding and
business development activities, as well as focusing our
day to day practice on where and how we add value.”
Susan Akternel, Innovation and Development Director, Impact Arts
“SROI has helped us develop an ongoing relationship
with our stakeholders which shows that we are listening
to their needs and we can now report how our work
impacts on their lives and the lives of others.”
Maeve Monaghan, Director, NOW Project
A guide to Social Return on Investment 3
Update to the 2009 Guide
This Guide is an update to the 2009 Guide to Social Return on Investment that was
published by the Cabinet Office. There are no changes to the principles or to the
methodology used to apply those principles within the framework. The purpose of
the update is to amend the language used so that it is more relevant for international
audiences and for different sectors and types of organisations.
A small number of typographical errors have also been corrected.
The worked example was included as an example of how those principles are applied
in practice. A supplement will be available for the worked example ‘Wheels to Meals:
one year on’ which sets out how the organisation has developed its approach to SROI
after completing an evaluation against the initial forecast.
Supplements to the Guide will be prepared from time to time and form part of the
guidance available. At the date of this update a supplement on Materiality has been
released and is available from the SROI Network website.
January 2012
Acknowledgements
The 2009 gui ...
1. Development Plan Career Activity. Respond to the followingMartineMccracken314
1. Development Plan Career Activity
. Respond to the following:
· What are some of the key concepts that should be included in a career plan?
· What common mistakes do people make when developing a career plan?
Assignment Instructions
Write a one-page paper (not to exceed 250 words). You will be graded on the following:
· Quality of your response.
· Coherence and organization.
· Mechanics.
This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.
The specific course outcome associated with this assignment is:
· Develop a professional development strategy that fosters career readiness skills for master's-prepared health care administrators.
A guide to
Social Return
on Investment
January 2012
in association with
“For FRC Group using SROI has been a fascinating
process which has fine tuned our understanding of
the impacts that are achieved as we improve our
performance, and exposed areas in which we can
do more.”
Verity Timmins, Impact Manager, FRC Group
“At Impact Arts we have embraced SROI as one of our
central evaluation tools, which complements our existing
evaluation practice very well. SROI has clear benefits
for our organisation in terms of our future funding and
business development activities, as well as focusing our
day to day practice on where and how we add value.”
Susan Akternel, Innovation and Development Director, Impact Arts
“SROI has helped us develop an ongoing relationship
with our stakeholders which shows that we are listening
to their needs and we can now report how our work
impacts on their lives and the lives of others.”
Maeve Monaghan, Director, NOW Project
A guide to Social Return on Investment 3
Update to the 2009 Guide
This Guide is an update to the 2009 Guide to Social Return on Investment that was
published by the Cabinet Office. There are no changes to the principles or to the
methodology used to apply those principles within the framework. The purpose of
the update is to amend the language used so that it is more relevant for international
audiences and for different sectors and types of organisations.
A small number of typographical errors have also been corrected.
The worked example was included as an example of how those principles are applied
in practice. A supplement will be available for the worked example ‘Wheels to Meals:
one year on’ which sets out how the organisation has developed its approach to SROI
after completing an evaluation against the initial forecast.
Supplements to the Guide will be prepared from time to time and form part of the
guidance available. At the date of this update a supplement on Materiality has been
released and is available from the SROI Network website.
January 2012
Acknowledgements
The 2009 gui ...
Getting research into action: issues, challenges, solutions by Dr Sarah MortonHazel Hall
Sarah Morton has worked across research, policy and practice for most of her career, and will draw on examples from different settings encountered over this time in her presentation. She is keen to interrogate our learning about effective evidence use from the last 20 years, and review how this can be supported from research and practice perspectives. She will present a vision for the effective use of evidence of all kinds to plan, develop and improve policy, practice, and services. As part of this she will explain some of the ways that she is currently developing tools and support for effective evidence use.
Slides at national conference for the community and charity sector 2012THEWHEEL12
INNOVATE | INVOLVE | INSPIRE 2012 - A National Conference for the Community and Charity Sector - Thursday, 31 May 2012 at Croke Park Conference Centre, Dublin
In 2018, the SciELO Program will celebrate 20 years of operation, in full alignment with the advances of open science.
The SciELO 20 Years Conference will address and debate – during its three-day program – the main political, methodological and technological issues that define today’s state of the art in scholarly communication and the trends and innovations that is shaping the future of the universal openness of scholarly publishing and its relationship with today’s Open Access journals, in particular those of the SciELO Network.
The program of the conference is organized around the alignment of SciELO journals and operations with the best practices on communication of open science, such as publishing research data, expediting editorial processes and communication through the continuous publication of articles and the adoption of preprints, maximizing the transparency of research evaluation and the flow of scholarly communication, and searching for more comprehensive systems for assessing research, articles and journals.
A two-day meeting of the coordinators of the national collections of the SciELO Network will take place prior to the Conference with focus on the evaluation of SciELO journals and the SciELO Program and their improvement following the lines of action that will guide their development in the forthcoming five years.
The celebration of SciELO’s 20-year anniversary constitutes an important landmark in SciELO’s evolution, and an exceptional moment to promote the advancement of an inclusive, global approach to scholarly communication and to the open access movement while respecting the diversities of thematic and geographic areas, as well as of languages of scientific research.
Coworking and Social Support among Peers. A Multivariate ERGM of Economic and...Federico Bianchi
What are the endogenous mechanisms that makes solidarity emerge from economic exchange relations? While we know much about the organizational and institutional mechanisms which foster this process, we know little about what happens at the level of interaction between peers. We surveyed the multiplex networks of economic and social exchange of 29 ICT freelancers who share a coworking space and spontaneously engage in professional collaborations. By analyzing the data with a multivariate exponential random graph (p*) model, our results show that: (i) a professional collaboration, even if positively evaluted, does not predict expectation of social support for non work-related issues; (ii) trusting a coworker for business-related risky issues does; (iii) solidarity among coworking peers may emerge along informal status differences as a network with local hierarchical clusters of exchange.
DERIVATION OF MODIFIED BERNOULLI EQUATION WITH VISCOUS EFFECTS AND TERMINAL V...Wasswaderrick3
In this book, we use conservation of energy techniques on a fluid element to derive the Modified Bernoulli equation of flow with viscous or friction effects. We derive the general equation of flow/ velocity and then from this we derive the Pouiselle flow equation, the transition flow equation and the turbulent flow equation. In the situations where there are no viscous effects , the equation reduces to the Bernoulli equation. From experimental results, we are able to include other terms in the Bernoulli equation. We also look at cases where pressure gradients exist. We use the Modified Bernoulli equation to derive equations of flow rate for pipes of different cross sectional areas connected together. We also extend our techniques of energy conservation to a sphere falling in a viscous medium under the effect of gravity. We demonstrate Stokes equation of terminal velocity and turbulent flow equation. We look at a way of calculating the time taken for a body to fall in a viscous medium. We also look at the general equation of terminal velocity.
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Similar to What 5,000 Acknowledgements Tell Us About Informal Collaboration in Financial Economics
Ensuring Social Impact at Every Stage of Technology Research & DevelopmentJeremy Pesner
This is research I have published to help improve the extent to which research impacts society. I published this in the Journal of Science Policy and Governance in their special issue on the Future of Science Policy.
Oikos PRI Finance Academy 2015: Unpacking the Black BoxColin Habberton
This presentation was delivered on the 3rd June 2015 as a summary of the paper titled - 'Unpacking the Black Box: An investigaton into the decision-mkaing dynamics of South African institutional investors' - at the oikos PRI Young Scholars Academy hosted by Henley Business School at Reading University
1. Development Plan Career Activity. Respond to the followingAbbyWhyte974
1. Development Plan Career Activity
. Respond to the following:
· What are some of the key concepts that should be included in a career plan?
· What common mistakes do people make when developing a career plan?
Assignment Instructions
Write a one-page paper (not to exceed 250 words). You will be graded on the following:
· Quality of your response.
· Coherence and organization.
· Mechanics.
This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.
The specific course outcome associated with this assignment is:
· Develop a professional development strategy that fosters career readiness skills for master's-prepared health care administrators.
A guide to
Social Return
on Investment
January 2012
in association with
“For FRC Group using SROI has been a fascinating
process which has fine tuned our understanding of
the impacts that are achieved as we improve our
performance, and exposed areas in which we can
do more.”
Verity Timmins, Impact Manager, FRC Group
“At Impact Arts we have embraced SROI as one of our
central evaluation tools, which complements our existing
evaluation practice very well. SROI has clear benefits
for our organisation in terms of our future funding and
business development activities, as well as focusing our
day to day practice on where and how we add value.”
Susan Akternel, Innovation and Development Director, Impact Arts
“SROI has helped us develop an ongoing relationship
with our stakeholders which shows that we are listening
to their needs and we can now report how our work
impacts on their lives and the lives of others.”
Maeve Monaghan, Director, NOW Project
A guide to Social Return on Investment 3
Update to the 2009 Guide
This Guide is an update to the 2009 Guide to Social Return on Investment that was
published by the Cabinet Office. There are no changes to the principles or to the
methodology used to apply those principles within the framework. The purpose of
the update is to amend the language used so that it is more relevant for international
audiences and for different sectors and types of organisations.
A small number of typographical errors have also been corrected.
The worked example was included as an example of how those principles are applied
in practice. A supplement will be available for the worked example ‘Wheels to Meals:
one year on’ which sets out how the organisation has developed its approach to SROI
after completing an evaluation against the initial forecast.
Supplements to the Guide will be prepared from time to time and form part of the
guidance available. At the date of this update a supplement on Materiality has been
released and is available from the SROI Network website.
January 2012
Acknowledgements
The 2009 gui ...
1. Development Plan Career Activity. Respond to the followingMartineMccracken314
1. Development Plan Career Activity
. Respond to the following:
· What are some of the key concepts that should be included in a career plan?
· What common mistakes do people make when developing a career plan?
Assignment Instructions
Write a one-page paper (not to exceed 250 words). You will be graded on the following:
· Quality of your response.
· Coherence and organization.
· Mechanics.
This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.
The specific course outcome associated with this assignment is:
· Develop a professional development strategy that fosters career readiness skills for master's-prepared health care administrators.
A guide to
Social Return
on Investment
January 2012
in association with
“For FRC Group using SROI has been a fascinating
process which has fine tuned our understanding of
the impacts that are achieved as we improve our
performance, and exposed areas in which we can
do more.”
Verity Timmins, Impact Manager, FRC Group
“At Impact Arts we have embraced SROI as one of our
central evaluation tools, which complements our existing
evaluation practice very well. SROI has clear benefits
for our organisation in terms of our future funding and
business development activities, as well as focusing our
day to day practice on where and how we add value.”
Susan Akternel, Innovation and Development Director, Impact Arts
“SROI has helped us develop an ongoing relationship
with our stakeholders which shows that we are listening
to their needs and we can now report how our work
impacts on their lives and the lives of others.”
Maeve Monaghan, Director, NOW Project
A guide to Social Return on Investment 3
Update to the 2009 Guide
This Guide is an update to the 2009 Guide to Social Return on Investment that was
published by the Cabinet Office. There are no changes to the principles or to the
methodology used to apply those principles within the framework. The purpose of
the update is to amend the language used so that it is more relevant for international
audiences and for different sectors and types of organisations.
A small number of typographical errors have also been corrected.
The worked example was included as an example of how those principles are applied
in practice. A supplement will be available for the worked example ‘Wheels to Meals:
one year on’ which sets out how the organisation has developed its approach to SROI
after completing an evaluation against the initial forecast.
Supplements to the Guide will be prepared from time to time and form part of the
guidance available. At the date of this update a supplement on Materiality has been
released and is available from the SROI Network website.
January 2012
Acknowledgements
The 2009 gui ...
Getting research into action: issues, challenges, solutions by Dr Sarah MortonHazel Hall
Sarah Morton has worked across research, policy and practice for most of her career, and will draw on examples from different settings encountered over this time in her presentation. She is keen to interrogate our learning about effective evidence use from the last 20 years, and review how this can be supported from research and practice perspectives. She will present a vision for the effective use of evidence of all kinds to plan, develop and improve policy, practice, and services. As part of this she will explain some of the ways that she is currently developing tools and support for effective evidence use.
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INNOVATE | INVOLVE | INSPIRE 2012 - A National Conference for the Community and Charity Sector - Thursday, 31 May 2012 at Croke Park Conference Centre, Dublin
In 2018, the SciELO Program will celebrate 20 years of operation, in full alignment with the advances of open science.
The SciELO 20 Years Conference will address and debate – during its three-day program – the main political, methodological and technological issues that define today’s state of the art in scholarly communication and the trends and innovations that is shaping the future of the universal openness of scholarly publishing and its relationship with today’s Open Access journals, in particular those of the SciELO Network.
The program of the conference is organized around the alignment of SciELO journals and operations with the best practices on communication of open science, such as publishing research data, expediting editorial processes and communication through the continuous publication of articles and the adoption of preprints, maximizing the transparency of research evaluation and the flow of scholarly communication, and searching for more comprehensive systems for assessing research, articles and journals.
A two-day meeting of the coordinators of the national collections of the SciELO Network will take place prior to the Conference with focus on the evaluation of SciELO journals and the SciELO Program and their improvement following the lines of action that will guide their development in the forthcoming five years.
The celebration of SciELO’s 20-year anniversary constitutes an important landmark in SciELO’s evolution, and an exceptional moment to promote the advancement of an inclusive, global approach to scholarly communication and to the open access movement while respecting the diversities of thematic and geographic areas, as well as of languages of scientific research.
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What 5,000 Acknowledgements Tell Us About Informal Collaboration in Financial Economics
1. What 5,000 Acknowledgements tell us about
Informal Collaboration in Financial Economics
Michael E. Rose1 Co-Pierre Georg2
1Max Planck Institute for Innovation and Competition
2University of Cape Town
1
2. What is part of the academic production function?
• Formal collaboration Wuchty et al., Science 2007; Ductor, OBES
2015
• Capital Baruffaldi and Gaessler, mimeo 2018
• Informal collaboration too?
• Diffusion of ideas
• Test of arguments
• Diffusion of paper
• ...
2
3. What is part of the academic production function?
• Formal collaboration Wuchty et al., Science 2007; Ductor, OBES
2015
• Capital Baruffaldi and Gaessler, mimeo 2018
• Informal collaboration too?
• Diffusion of ideas
• Test of arguments
• Diffusion of paper
• ...
“[i]n studying the Economics profession, one quickly learns the
importance of informal networks, contacts and exchange of ideas.”
David Colander (1997): “Surviving as a Slightly Out of Sync Economist”, in: Steven G. Medema and Warren J.
Samuels (eds): “Foundations of Research in Economics: How Do Economists Do Economics?”, Edward Elgar:
Cheltenham, UK and Northampton, MA
2
4. Contribution
• Interest as data source
• Oettl (MS 2012)
• Impact on academic papers?
• Laband and Tollison (JPE 2000); Brown (TAR 2005) Replication
• Networks within our profession?
• Goyal et al. (JPE 2006); Ductor et al. (REStat 2014); Ductor
et al. (WP 2018)
• Collaboration patterns?
• Wu (WP 2017); Romer (2016); Azoulay et al. (WP 2018)
3
5. Contribution
• Interest as data source
• Oettl (MS 2012)
• Impact on academic papers?
• Laband and Tollison (JPE 2000); Brown (TAR 2005) Replication
• Networks within our profession?
• Goyal et al. (JPE 2006); Ductor et al. (REStat 2014); Ductor
et al. (WP 2018)
• Collaboration patterns?
• Wu (WP 2017); Romer (2016); Azoulay et al. (WP 2018)
• Our contribution:
I Document patterns and facts on informal collaboration
II Try to understand why people help each other
III Show how the data helps predicting academic success
IV Rank financial economists according to their centrality
V Explore determinants of centrality 3
7. Why informal collaboration?
• Why supplying comments?
• Helpfulness Oettl (MS 2012
• learn about new results Hamermesh (JEP 1994)
• Reciprocity
• Why demanding comments?
• Receive constructive criticism Green et al. (JF 2002);
Laband/Tollison (JPE 2000); Brown (TAR 2001)
• Get opinion of potential referees
• Signal quality
• Crucial assumption: Authors don’t lie/No fraudulence
Hamermesh (JEL 1999)
4
8. Informal collaboration visible through acknowledgments
from: Hochberg, Y., A. Ljungquivst and Y. Lu (2007): “Whom you know matters: Venture Capital Networks and
Investment Performance”, The Journal of Finance 1, 251-301.
• 6,597 full research papers from 6 Finance journals 1997-2011:
The Journal of Finance, The Review of Financial Studies, the
Journal of Financial Economics, the Journal of Financial
Intermediation, the Journal of Money, Credit & Banking, the
Journal of Banking and Finance
• 14,787 researchers (6,552 authors), 1,568 affiliations 5
15. It’s not a question of when you publish . . .
0
2
4
No.
of
commenters
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author
Average number of commenters per author
0.00
0.25
0.50
0.75
1.00
No.
of
conferences
per
author
***
***
Average number of conferences per author
1997-2001 2002-2006 2007-2011
Publication year
0.0
0.5
1.0
1.5
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of
seminars
per
author
Average number of seminars per author
1997-2001 2002-2006 2007-2011
Publication year
0.0
0.5
1.0
1.5
2.0
No.
of
co-authors
***
***
Average number of co-authors
10
16. . . . but when you started publishing
0
2
4
No.
of
commenters
per
author
*** ***
***
Average number of commenters per author
0.00
0.25
0.50
0.75
1.00
No.
of
conferences
per
author
*** * ***
***
Average number of conferences per author
<1970 1970-1979 1980-1989 1990-1999 >=2000
Year of first publication
0.0
0.5
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1.5
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of
seminars
per
author
***
** ***
Average number of seminars per author
<1970 1970-1979 1980-1989 1990-1999 >=2000
Year of first publication
0.0
0.5
1.0
1.5
2.0
No.
of
co-authors
*** ***
***
Average number of co-authors
11
17. What does informal collaboration matter?
Top publication Total citation count 5-year citation count 10-year citation count
logistic negative binomial
# of seminars 0.184∗∗∗ 0.009∗∗∗ 0.011∗∗∗ 0.010∗∗∗
p = 0.000 p = 0.010 p = 0.0003 p = 0.004
# of conferences −0.037 0.004 0.019∗∗∗ 0.011
p = 0.106 p = 0.582 p = 0.005 p = 0.111
# of commenters 0.037∗∗∗ 0.013∗∗∗ 0.011∗∗∗ 0.013∗∗∗
p = 0.00005 p = 0.00001 p = 0.00001 p = 0.00001
Com. total Euclid 0.0004∗∗∗ 0.00004∗∗∗ 0.00003∗∗∗ 0.00003∗∗∗
p = 0.000 p = 0.0002 p = 0.00002 p = 0.0002
Constant −3.389∗∗∗ 4.944∗∗∗ 2.189∗∗∗ 3.392∗∗∗
p = 0.000 p = 0.000 p = 0.000 p = 0.000
Paper Characteristics X X X X
Author group size fixed effects X X X X
Publication year fixed effects X X X X
Journal fixed effects X X X
N 5,769 5,769 5,769 5,769
Akaike Inf. Crit. 4,928.259 64,645.970 43,779.250 57,133.120
12
18. Open questions
? Why are there generational differences in informal
collaboration but during our sample period?
• Different propensity to travel?
• Job Market Papers?
? Is our equation "authors = research team" still valid?
• Division of labor in teams
? What do papers gain from informal collaboration? Do authors
acquire skills they themselves do not possess?
13
21. What explains whether someone is acknowledged?
No. of Thanks Out-Degree
negative binomial
Euclid. Index 0.001∗∗∗ 0.001∗∗∗ 0.001∗∗∗ 0.001∗∗∗
(0.00004) (0.00004) (0.00005) (0.00005)
Publications −0.005∗∗∗ −0.005∗∗∗ −0.005∗∗∗ −0.005∗∗∗
(0.0004) (0.0004) (0.0004) (0.0004)
Citations 0.0004∗∗∗ 0.0004∗∗∗ 0.0003∗∗∗ 0.0003∗∗∗
(0.00001) (0.00001) (0.00002) (0.00002)
Female −0.191∗∗∗ −0.187∗∗∗ −0.151∗∗∗ −0.160∗∗∗
(0.014) (0.014) (0.014) (0.014)
Experience 0.068∗∗∗ 0.068∗∗∗ 0.063∗∗∗ 0.063∗∗∗
(0.001) (0.001) (0.001) (0.001)
Experience2 −0.002∗∗∗ −0.002∗∗∗ −0.002∗∗∗ −0.002∗∗∗
(0.00004) (0.00004) (0.00004) (0.00004)
Constant 0.118∗∗∗ 0.106∗∗∗ 0.815∗∗∗ 0.885∗∗∗
(0.011) (0.017) (0.011) (0.017)
Year fixed effects X X
N 57,919 57,919 57,919 57,919
Akaike Inf. Crit. 210,795.500 210,764.700 279,153.700 279,079.300
Standard Errors clustered on researcher reported in parenthesis; Constant not reported
15
22. Open questions
? Why do scholars help others?
• Reciprocity ubiquitous but not sufficient explanation
? How can commenters receive more credit?
? Why do most authors not get acknowledged?
? Why are female authors consistently acknowledged less?
16
23. The Network of Informal Collaboration in Financial
Economics
16
25. Why looking at centrality?
• information access/diffusion Simmel (1908); Jackson (JPE 2014)
| Ductor et al. (REStat, 2014): “[A] researcher who is close to
more productive researchers may have early access to new
ideas. As early publication is a key element in the research
process, early access to new ideas can lead to greater
productivity.”
18
26. Why looking at centrality?
• information access/diffusion Simmel (1908); Jackson (JPE 2014)
| Ductor et al. (REStat, 2014): “[A] researcher who is close to
more productive researchers may have early access to new
ideas. As early publication is a key element in the research
process, early access to new ideas can lead to greater
productivity.”
• peer-influence Ballester et al. (ECTA 2006) | Hojman/Szeidl
(JET 2008): positive correlation between network centrality
and payoffs
18
28. Top publications: less betweenness central commenters . . .
Top publication
Auth. giant (co-author) 1.266∗∗∗ 0.403∗∗
p = 0.000 p = 0.027
Auth. eigenvector (co-author) −2.673∗∗∗ −2.920∗∗∗
p = 0.002 p = 0.002
Auth. betweenness (co-author) 0.245 0.504
p = 0.761 p = 0.607
Auth. giant (informal) 0.984∗∗∗ 0.674∗∗∗
p = 0.000 p = 0.000
Auth. eigenvector (informal) 33.966∗∗∗ 20.199∗∗∗
p = 0.000 p = 0.000
Auth. betweenness (informal) −36.854∗∗∗ −37.325∗∗∗
p = 0.000 p = 0.000
Com. giant (informal) 0.849∗∗∗ 0.752∗∗∗
p = 0.000 p = 0.00000
Com. eigenvector (informal) 14.742∗∗∗ 12.795∗∗∗
p = 0.000 p = 0.000
Com. betweenness (informal) −7.850∗∗∗ −7.345∗∗∗
p = 0.0002 p = 0.0004
Paper Characteristics X X X X
Informal Collaboration X X X X
Author group size fixed effects X X X X
Publication year fixed effects X X X X
N 5,769 5,769 5,769 5,769
Akaike Inf. Crit. 5,645.354 5,192.805 4,758.770 4,587.831
Constant not reported 20
29. . . . but they matter for high citation counts
Total citation count
Auth. giant (co-author) 0.032 −0.031
p = 0.562 p = 0.573
Auth. eigenvector (co-author) 0.441 0.530∗
p = 0.123 p = 0.062
Auth. betweenness (co-author) −0.146 −0.514∗∗
p = 0.528 p = 0.031
Auth. giant (informal) 0.133∗∗∗ 0.110∗∗∗
p = 0.0005 p = 0.004
Auth. eigenvector (informal) 0.801∗∗ 0.261
p = 0.034 p = 0.515
Auth. betweenness (informal) 7.391∗∗∗ 7.253∗∗∗
p = 0.00001 p = 0.00001
Com. giant (informal) 0.008 −0.019
p = 0.860 p = 0.685
Com. eigenvector (informal) 0.258∗ 0.206
p = 0.054 p = 0.135
Com. betweenness (informal) 3.195∗∗∗ 2.847∗∗∗
p = 0.000 p = 0.00000
Paper Characteristics X X X X
Author group size fixed effects X X X X
Publication year fixed effects X X X X
N 5,769 5,769 5,769 5,769
Akaike Inf. Crit. 64,750.810 64,688.100 64,661.870 64,629.760
Constant not reported
21
30. The most central Financial Economists (averages)
Network of informal collaboration Co-author network
Thanks Eigenvector centrality Betweenness centrality Eigenvector centrality Betweenness centrality
1 Stulz, R. M. Sensoy, B. A. Stulz, R. M. Lin, C. Shivdasani, A.
2 Stein, J. C. Yun, H. Berger, A. N. Ma, Y. Mester, L. J.
3 Ritter, J. R. Korteweg, A. Shleifer, A. Cull, R. J. Lemmon, M. L.
4 Shleifer, A. Stulz, R. M. Titman, S. D. Clarke, G. R. Lee, C. M.
5 Titman, S. D. Hsu, P. H. Ritter, J. R. Weiss, M. A. Chordia, T.
6 Campbell, J. Y. Xuan, Y. Harvey, C. R. Xuan, Y. Okunev, J.
7 Amihud, Y. Chen, H. Flannery, M. J. Lin, P. Liu, J.
8 Green, R. C. Ghent, A. C. Graham, J. R. Walter, I. Flannery, M. J.
9 Ferson, W. E. Baker, M. P. Amihud, Y. Lim, T. Walter, I.
10 Zingales, L. Duchin, R. Ferson, W. E. Cummins, J. D. Cooney, J. W.
11 Duffie, J. D. Lyon, J. D. Zingales, L. Liu, J. Ryngaert, M. D.
12 Jagannathan, R. Wurgler, J. Stein, J. C. Zou, H. Hancock, D.
13 Harvey, C. R. Zhang, L. Karolyi, G. A. Fink, K. E. Berger, A. N.
14 Fama, E. F. Sevick, M. Hirshleifer, D. Scalise, J. M. Lo, A.
15 Schwert, G. W. Kim, Y. C. Duffie, J. D. Hancock, D. Stulz, R. M.
16 Brennan, M. J. Chava, S. Campbell, J. Y. Fink, J. D. Chan, K.
17 Petersen, M. A. Seru, A. Saunders, A. Zi, H. Hughes, J. P.
18 Flannery, M. J. Laeven, L. Fohlin, C. Kashyap, A. K. Moon, C.
19 French, K. R. Tsai, C. Boudreaux, D. J. Barth, J. R. Berlin, M.
20 Rajan, R. G. Graham, J. R. Wan, J. Covitz, D. M. Gosnell, T. F.
21 Daniel, K. D. Roussanov, N. Khan, M. A. Song, F. M. Davidson, I. R.
22 Berger, A. N. Chordia, T. Petersen, M. A. Chen, J. Sias, R. W.
23 Cochrane, J. H. Tian, X. Levine, R. L. Bonime, S. D. Titman, S. D.
24 Allen, F. Van Hemert, O. Ongena, S. Lo, A. Lim, T.
25 Karolyi, G. A. Woo, S. Woo, D. Flannery, M. J. Chen, J.
26 Kaplan, S. N. Kuehn, L. A. Servaes, H. Michael, F. A. Kang, J.
27 Diamond, D. W. Knoeber, C. R. Brav, A. Mester, L. J. Ahn, H.
28 O’Hara, M. Huang, J. Weisbach, M. S. Liu, P. Wilson, B. K.
29 Scharfstein, D. S. Greenwood, R. M. Starks, L. T. Mojon, B. Cao, H. H.
30 Gromb, D. Lu, Y. Hendry, D. F. Sonia Man Lai, W. M. Wu, L.
Full list at michael-e-rose.github.io/CoFE/
22
31. What explains commenter network centrality?
Eigenvector centrality rank Betweenness centrality rank
Euclid. Index −0.207 −0.232∗∗ −0.503∗∗ −0.539∗∗∗
(0.171) (0.097) (0.216) (0.125)
Publications −3.634∗∗∗ −4.822∗∗∗ −8.605∗∗∗ −10.377∗∗∗
(1.003) (0.829) (1.229) (0.899)
Citations −0.072 0.074∗∗ −0.005 0.212∗∗∗
(0.064) (0.032) (0.079) (0.039)
Female 13.310 −19.787 84.529∗∗∗ 35.174
(31.133) (29.191) (30.165) (26.815)
No. of Thanks −101.069∗∗∗ −150.717∗∗∗
(7.124) (12.052)
Year fixed effects X X X X
Experience fixed effects X X X X
N 52,825 52,825 52,825 52,825
Adjusted R2 0.179 0.220 0.210 0.322
S
Errors clustered on researcher reported in parenthesis; Constant not reported
Co-author network
23
32. Open questions
? Why are betweenness central commenters associated with
more citations but lower chances to publish high?
? Why are editors so central (although we "remove" them from
their journal)?
? Can the networks’ topology help us understand our
profession?
• Speed of learning, resilience
• Authority, collusion
Thank you!
24