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1、ReflectionsonEditingtheJournalofFinance,2006-2012CampbellR.HarveyDukeUniversityandNBER“TheAERisafire-hose:inmyfirstyearIhandled275manuscripts.”-PrestonMcAfee(thisvolume)IftheAmericanEconomicReviewisafire-hose,theJournalofFinanceisatsunami!InmyfirstyearasEditoroftheJournal,Iha
2、ndled1,275manuscripts.Ifonetakesreviseandresubmitsintoaccount,thatfigureisevenlarger.Overmysixyears(2006-2012)asEditor,Ihandledapproximately7,500submissions.Evenatthepointofmy“retirement”onJuly1,2012,Istillhadmorethan500manuscriptsundermycontrol.Thejobdoesnotgoawayuntilthesem
3、anuscriptsaresettled.AlittlebackgroundontheJournalofFinance.ItistheofficialJournaloftheAmericanFinanceAssociation(AFA).TheJournalwasfoundedin1946.Amongeconomicsjournals,theJournalofFinanceranksthirdintotalcitations(behindAmericanEconomicReviewandEconometrica)andfourthintermso
4、ffive-yearimpactfactors(behindJournalofEconomicLiterature,QuarterlyJournalofEconomics,andJournalofPoliticalEconomy).In2011,theacceptanceratewas5.4%andthemedianturnaroundtimewas42days.TheInvitationInSeptemberof2005,IreceivedatelephonecallfromRenéStulzoftheOhioStateUniversity.I
5、wasnotsurewhyhewascalling.Iinitiallythoughthewasgoingtoinvitemetoaseminar.HethensaidthathewasthechairpersonoftheAFA’sEditorialSearchCommitteeandthattheAssociationwantedtooffermethejobofEditoroftheJournalofFinance.Iwasspeechless.IhadnoideathatRenéwasleadingthesearchcommittee.I
6、ndeed,onlyaweekbeforedidIlearnthattheAssociationwassearchingforanewEditor.IwastippedoffbyanemailthatwasmistakenlysenttomeinsteadofJohnCampbell(AFAPresident)ofHarvardUniversity.Theemailwasalongtreatisebyanotherfinancepersonnominatinghimselfforthejob.Ideletedtheemailanddidn’tth
7、inkofthematteranyfurther.DuringthelongpausethatfollowedRene’soffer,anumberofthingswentthroughmymind.First,René,whoservedasEditorfrom1988to2000,wasnotjusttheChairofthesearchcommittee–RenéisarguablythemostsuccessfulEditorinthehistoryoftheJournalofFinance.WhenhetookovertheJourna
8、l,itwasnotknownasthetopjournalinthefieldoffinance.TheJournalofFinanc
