EDITORIAL POLICY

• Published date: 01 December 1986
• Date: 01 December 1986
• DOI: http://doi.org/10.1111/j.1475-6803.1986.tb00459.x

FROM THE EDITOR

As this issue goes to press, The Joint Policy Board for The Journal is considering

candidates to become the next editor. I am sure

that

my successor will be an outstand-

ing finance scholar. As editor for The Journal I have learned about management,

administration,

and

financing of academic journals. My experience has led me to de-

velop a comprehensive study of scholarly publications. I would like to share with you

some of what I have learned.

The managers of scholarly publications are not taking advantage of existing and

developing computer

and

communications technology. The result is

that

journal edi-

tors and publishers are not servicing the worldwide scholarly community as efficiently

as they should.

The computer technology

that

is now available to virtually every scholar and pub-

lisher makes long publication delays for quality research unnecessary. The paper-

based review, editorial, and production processes are no longer needed. Scholars can

now submit computer discs

that

can be reviewed and edited at computer terminals.

These discs, in

turn,

can be used to produce camera-ready journal copy.

Without using computer-based technology, the publication lags for empirical re-

search are unacceptable at best. A scholar who is analyzing 1985

data

in 1986 is un-

likelyto submit the research paper for review until late in 1986. With the most expedi-

tious review, editorial,

and

production processes, the paper would appear in print in

late 1987. Unfortunately, this is the most optimistic scenario.

It

is more likely

that

the

scholar obtains less timely

data

for later analysis

and

publishes four-year-old informa-

tion

that

is of little significance. Because of the time lag between research

and

publica-

tion, even the structure of the behavioral system under study may change.

The Journal

of

Financial Research is relatively well managed,

but

we need to begin

using state of the art technology as soon as possible. The next editors, after my term

ends on September 1, 1987, need to employ a management information system to

handle The Journal's paperwork and to begin moving toward computer-based sub-

mission, review,

and

editorial processes.

I look forward to assisting

our

future editor to further the development of The

Journal.

David A. Walker

Executive Editor

EDITORIAL POLICY

It

is the editorial policy of The Journal

that

"financial research" is broadly inter-

preted to include financial management, investments, financial institutions, capital

market theory, and portfolio theory. This definition of scope is intended to include

research results

that

infer market characteristics. The preferred subject matter for

The Journal emphasizes financial decision-making and policy-making of the individ-

ual unit of operation as opposed to monetary economics or public policy. As an exam-

ple, The Journal will focus on the financial management of financial institutions in

contrast to an analysis of macro-monetary

and

financial variables. Also, contributions

that

illustrate the application of a management science technique or quantitative tool

should be directly connected with finance to be publishable in The JournaL.