The Remarkable Growth in Financial Economics, 1974-2020


G. William Schwert

University of Rochester, Rochester, NY 14627
and National Bureau of Economic Research


Academic finance has grown and evolved in the 46 years since the Journal of Financial Economics (JFE) began publishing papers. This paper uses detailed data on the 2,858 papers written by 3,152 different authors published in the JFE from 1974-2019. Cumulatively, these papers have received 278,018 citations from other published papers as reflected in the Social Science Citation Index. Increasing computing power and electronic communication has resulted in trends toward more empirical work, more co-authorship, and more complex papers. Growth in the demand for finance faculty has driven up faculty salaries, and therefore the demand for journal services.

Key words: Efficient markets, Asset Pricing, Option Pricing, Corporate Finanace, Corporate Control, Financial Institutions

JEL Classifications: G10, G20, G30


The following file contains the reprint of this paper in Acrobat's portable data format (.pdf).

Click here to download this paper in PDF format.

Click here to download the appendix to this paper in PDF format.


Return to Publications Page

© Copyright 2020, G. William Schwert

Last Updated on 10/30/2020