Influential Articles, Journals, and Institutions in Risk Management and Insurance

• Date: 01 March 2009
• DOI: http://doi.org/10.1111/j.1540-6296.2009.01156.x
• Author: Kartono Liano,Kam C. Chan
• Published date: 01 March 2009

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Risk Management and Insurance Review, 2009, Vol.12, No. 1, 125-139

INFLUENTIAL ARTICLES,JOURNALS,AND INSTITUTIONS

IN RISK MANAGEMENT AND INSURANCE

Kam C. Chan

Kartono Liano

ABSTRACT

We use a threshold citation approachto measure the influence of articles, jour-

nals, and institutions in risk management and insurance research. The three

frequently cited articles in risk management and insurance research are “In-

creasing Risk: I. A Definition” by Rothschild and Stiglitz (1970), “Precautionary

Saving in the Small and in the Large” by Kimball (1990), and “Equilibrium

in Competitive Insurance Markets: An Essay on the Economics of Imperfect

Information” by Rothschild and Stiglitz (1990). Journal of Risk and Insurance,

Econometrica, and Journal of Political Economy are the three influential journals

in risk management and insurance research. Furthermore, the five influential

institutions in risk management and insurance research are the University of

Pennsylvania, Harvard University, the University of Rochester, the University

of Michigan, and Massachusetts Institute of Technology.

INTRODUCTION

Assessment of academic institutions, programs, and researchersalways attracts attention

from various constituents and popular media. Part of these assessment exercises is

to measure the research performance of institutions, programs, and researchers. The

outcomes are useful for various decisions such as personnel, student enrollment, and

resource allocation. Our current study complements the literature of evaluating research

output and influence in the risk management and insurance discipline using a threshold

citation approach to assess the articles, journals, and institutions that are influential in

the development of the theories and research applications within the discipline.

There have been a number of studies to evaluate the influential articles, journals, in-

stitutions, and researchers in risk management and insurance by various methods. For

instance, Outreville and Malouin (1985), Baur et al. (1996), and Ferguson et al. (2005)

use survey results to rank influential risk management, insurance, and related journals.

Kam C. Chan is with the Department of Finance, Western Kentucky University, Bowling

Green, KY 42101; phone: 270-745-2977; fax: 270-745-5284; e-mail: johnny.chan@wku.edu.Kartono

Liano is with the Department of Finance and Economics, Mississippi State University, Box

9580, Mississippi State, MS 39762-9580; phone: 662-325-2341; fax: 662-325-1977; e-mail: kliano@

cobilan.msstate.edu. We acknowledge the helpful comments from two anonymous reviewers.

Any remaining errors, if any, are ours. This article was subject to double-blind peer review.

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