Texas Tech University

Submission Policy and Review Process

Articles submitted to the Journal of Financial Research should be sent to jfr@ttu.edu as two unprotected pdf files.  One file should contain the complete article with the title page and author information. The second file should exclude all author information (for blind review purposes). Payment of submission fees can be made by credit card, debit card, or electronic funds transfer, at  www.texastechfcu.org/jfr. Submission fees are $150 for members of the Southern Finance Association or Southwestern Finance Association, or $200 for non-members (which includes a one-year subscription to the Journal of Financial Research). You will receive an email receipt from jfr@texastechfcu.org after payment.

Beginning January 1, 2014, the JFR will no longer refund the submission fee for desk rejected papers. Furthermore, we will continue our practice of not providing any comments on desk rejections. Additionally, the submission fees will be $150 for members of SFA/SWFA, and $200 for non-members. The $50 difference provides membership and a one year subscription to the JFR.

Review Process

Every submission is double-blind reviewed by one of the associate editors and a referee selected by the associate editor. The editors strive for a review turnaround time not to exceed sixty days from the receipt of submission fee and manuscript.

Authors are strongly encouraged to keep manuscripts to less than 40 pages in total length, including tables and references.

Important Information from the Executive Editors:

The editors of Journal of Finance, Journal of Financial Economics, and Review of Financial Studies recently published in their three journals a joint editorial pointing out that they are seeing too many authors submitting papers that are not ready for the rigorous review process. In their view, too many authors submit papers prematurely in the hopes that the reviewer will help them "make it better" and in so doing turn it in to a paper of publishable quality. A related problem, they point out, is that many authors will simply submit a rejected paper to another journal without following the editor's or referee's advice by making changes. These issues impose substantial costs, in the form of time and effort, on the limited pool of editors and referees.

We agree unequivocally with these editors. In fact, there is some reason to believe that we might have to deal even more with the problem of papers being submitted "too early" than the three top tier journals in the field.

Each of the three executive editors of the JFR read every submission to the journal. Many papers are desk rejected by us, meaning that the paper is not sent out for a full review. Our assessments are based upon the paper's potential contribution to the literature, the appropriateness of the topic, and the quality of the writing, hypothesis development, data, and methodology. Further, we desk reject a paper only if there is a strong consensus among the three of us. Still, we have desk rejected 62% of all submissions received between January 1, 2012 and November 8, 2013. This percentage is only slightly higher than prior editorial teams of the JFR, and has generally increased over the years. Importantly, we believe that this desk rejection rate is illustrative of the issues raised by the editors above.

A common trait across our desk rejected papers, beyond simply not being ready for submission, is the poor exposition of the paper. Specifically, the grammar, punctuation, and syntax are sufficiently poor that the editors often cannot fully understand the contribution of the paper, much less see a path toward publication. It is the author's job to strongly motivate and present his or her story clearly. It is not an editor's or reviewer's job to find the author's motivation and story, and in the review process edit the paper.

Another problem that seems to surface often is the use of data from a non-U.S. country applied to a research question previously addressed with U.S. data. There are numerous instances when such research can be contributive. For example, if there are differences in market mechanisms, tax laws, governance structures, etc., that allow a refined analysis of a question, or if differences allow one to better control for alternative hypotheses, the use of non-U.S. data is viewed positively. If this is not the case, however, the submission is not put into the review process.

Our practice is to send papers to our associate editors and (for most papers) ask them to find an additional referee. Because we know that associate editors' and referees' time is a scarce and valuable resource, and because we view the problems discussed above as significant, we are making changes to the journal's desk rejection policy and submission fees. Beginning January 1, 2014, the JFR will no longer refund the submission fee for desk rejected papers. Furthermore, we will continue our practice of not providing any comments on desk rejections. Additionally, the submission fees will be $150 for members of SFA/SWFA, and $200 for non-members. The $50 difference provides membership and a one year subscription to the JFR.

Our hope in writing this editorial, and in changing the submission fee policy, is that those who read the journal and those who wish to publish in it will better understand our concerns and avoid submitting papers "too early." We strongly recommend that submitting authors 1) peruse past issues of the journal in order to become familiar with the quality and composition of articles appearing in the journal, 2) motivate the main idea clearly and early in the paper, and 3) avoid submitting papers that have not been well vetted and/or professionally copy edited (for example, see http://wileyeditingservices.com/en/ ). Further, we hope that our views will improve the likelihood that submitted papers will enter the full review process, thereby gaining some likelihood of being published in the journal. This, we believe, will improve the quality of the journal, which is our ultimate objective.

Scott Hein, Robert C. Brown Chair in Finance
Jeff Mercer, I. Wylie and Elizabeth Briscoe Chair in Finance
Drew Winters, Lucille and Raymond Pickering Chair in Finance

Rawls College of Business
Texas Tech University

If you have any questions, please e-mail jfr@ttu.edu.

Guidelines for manuscripts:

Wiley-Blackwell has vetted several 3rd party companies who offer professional manuscript editing services. See the Wiley-Blackwell website for more information on correcting English before submission of your manuscript.

  1. Manuscripts should follow the Chicago Manual of Style.
  2. Please edit manuscripts carefully, writing in the active voice. Avoid expressions such as "This paper tests." Do not use italics to indicate emphasis.
  3. Eliminate excess verbiage and avoid redundancies. In the introduction do not describe the contents of the subsequent sections.
  4. On the title page, include the title, author's name, author's affiliation, and personal footnote, if desired. Double-space all text, including abstract, footnotes, and references.
  5. Include a single-paragraph abstract of no more than 100 words after the title page. Place JEL classification code(s) after the abstract.
  6. Use footnotes instead of endnotes. Keep number and length of footnotes to a minimum.
  7. Center primary headings, using Roman numerals. Begin subsection headings at the left margin.
  8. Tables should be able to stand alone. Make column headings descriptive and easily understood. Define all variables and abbreviations.
  9. Number tables and equations with Arabic numbers, and number figures with Roman numerals. Enclose equation numbers in parentheses and place them in the right margin.
  10. Present each table or figure on a separate page. Figures accepted for publication must be available in electronic form.
  11. Cite references in the text by placing the publication date in parentheses, for example:
    • Cornell, B., 1986, Inflation measurements, Inflation risk, and the pricing of Treasury bills , Journal of Financial Research 9, 193-202.
    • Cox, J. and M. Rubinstein, 1983, Option Markets (Prentice-Hall, Englewood Cliffs, NJ).
    • Ho, T.S.Y., 1985, The value of a sinking fund provision under interest-rate risk, in E. I. Altman and M.G. Subrahmanyan, eds.: Recent Advances in Corporate Finance (Irwin, Homewood , IL ).

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Submission Guidelines & Review Process

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Editorial Board

Scott E. Hein

Robert C. Brown Chair in Finance, Rawls College of Business

Jeffrey M. Mercer

I. Wylie and Elizabeth Briscoe Chair in Finance, Rawls College of Business

Drew B. Winters

Lucille and Raymond Pickering Chair in Finance, Rawls College of Business 

Production Staff

Gerald Koh

Production Editor, Blackwell-Wiley Publishing, Inc.

Beth Baugh

Copy Editor, Dubuque, Iowa

Contact

Vicki Mercer, Manager, Editorial Office

The Journal of Financial Research
C/O Department of Finance
Rawls College of Business
Texas Tech University
Box 42101
Lubbock, TX 79409-2101