Financial Research in the European Region: a Long‐Term Assessment (1990–2008)

We provide a long‐term comprehensive assessment of financial research in the European region. As with earlier findings in Chan et al. (2004) , the European academic institutions, as a group, perform very well during the 1990–2008 period. Specifically, European institutions exhibit a steady increase in the share of global financial research. During the sample period, the top five institutions were London Business School, INSEAD, Sir John Cass Business School, London School of Economics, and Erasmus University Rotterdam. Subperiod analysis shows that some universities, such as Oxford University, increased their research output substantially. Many of the leading European scholars received their training and had prior experience in North American institutions. We find that a high ranking of the scholars’ affiliated and doctoral granting institutions is correlated with finance research productivity.