Rhodri Preece, CFA
Senior Head, Industry Research
CFA Institute
In journal publications, we maintained our regular publishing cycle of high-quality research articles. The Financial Analysts Journal, our flagship publication, continues to experience growth in article submissions and citations, and our “impact factor”—an academic measure of article quality based on citations—rose from 1.413 to 1.816 over the year. The Graham and Dodd Award for 2019, which recognizes excellence in research and financial writing in the Financial Analysts Journal, was given to Jason Hsu, Vitali Kalesnik, and Engin Kose for their article “What Is Quality?,” which examines the “quality” factor and the robustness of different measures that are associated with a return premium. Looking ahead, the Financial Analysts Journal will celebrate its 75th anniversary in 2020, which will be marked with several activities and special articles.
Environmental, social, and governance (ESG) considerations continue to feature in industry debates and in the development of investment strategies and products. To support high-quality research on ESG issues and the expansion of the body of knowledge, CFA Institute has participated in two academic research networks: The Global Research Alliance for Sustainable Finance and Investment (GRASFI), through which the Financial Analysts Journal sponsored two paper prizes in 2019, and the Principles for Responsible Investment (PRI) academic network advisory committee. In addition, in December 2019, we published “Sustainable, Responsible, and Impact Investing and Islamic Finance: Similarities and Differences.” The research provides an entry point for investment professionals to explore Islamic finance and socially responsible investing approaches, highlighting the ethical orientation of both. ESG issues will continue to feature in our research agenda in 2020.
Our research blog platform, Enterprising Investor, is a forum for provocative analysis of current issues in finance and investing. Over the course of 2019, Enterprising Investor experienced growth in authors and subscribers. We attracted an average of more than 90,000 visitors each month, receiving a total of more than 1.3 million article views. Views have grown by approximately 50% year on year (at the time of writing).
The Research Foundation is an integral part of the wider research offering of CFA Institute, and the publication of this review provides a perfect companion to the other reports and activities highlighted herein. We hope you find the material insightful and thought provoking.