Herman Manakyan

Business computing research journals: a normalized citation analysis

Several studies have been conducted that rank the relative importance of journals publishing MIS research. Yet the study of business computing systems has grown to encompass not only management information systems, but other business computing systems as well (e.g., decision support systems and business expert systems). In a recent study, journals publishing business computing system research were ranked using a citation analysis methodology. This article extends that study by taking into account the number of years each journal has been published. This normalized ranking scheme is then compared with the original ranking.

A citation analysis of business computing research journals

Abstract In the field of business computing systems, it is important for both researchers and those who evaluate them to have a clear, up-to-date picture of the forum available for scholarly discourse. Yet, the literature contains no recent, large-scale, objective studies of appropriate publication mechanisms. Here, we employ a citation analysis methodology to (1) examine citation trends for books, proceedings, and journals, and (2) determine a relative ranking of journals concerned with this research. Five base journals were determined by results of previously reported ranking studies. Our data collection produced over 25,000 citations for the years 1987–1991. The journal rankings generated are compared with those of earlier studies, both objective and subjective. Together, these rankings are used to identify core members for two top tiers of journals with each ranking serving as a filter on tier membership.

An empirical assessment and categorization of journals relevant to DSS research

This paper reports on an objective empirical study of the decision support system literature for the purpose of assessing journals relevant to DSS research efforts. Here, we provide DSS researchers and those who evaluate them an up-to-date picture of the forums available for scholarly discourse and research. We conducted a citation analysis of the Decision Support Systems journal for the years 1985-1993 to obtain a citation base containing over 7,500 citations. The citation base is then used to (1) examine citation trends for books, proceedings, and journals; (2) determine a relative ranking of journals based on total citations, and (3) organize journals into categories. Guidelines are provided for utilizing the categorization.

A multivariate analysis of REIT performance by financial and real asset portfolio characteristics

This paper examines the risk-adjusted performance of real estate investment trusts (REITs) from 1986 through 1990 in relation to financial and property characteristics of their portfolios. The Sharpe measure of risk-adjusted rate of return was regressed against financial ratios and property investment ratios for a sample of equity and mortgage REITs. The results show that, in general, financial ratios (gross cash flow, leverage, asset size), regional location of properties, and types of real estate investments determine the risk-adjusted performance. More specifically, location of properties in the western United States, ownership of health care properties, and investment in securitized mortgages positively affect the risk-adjusted return. The individual financial variables were not found to be statistically significant in influencing REIT returns.

A Normalized Citation Analysis of Real Estate Journals

This study presents an analysis of the citation patterns and rankings for journals in real estate and related areas for the period 1990-1995. Journals were ranked based on the number of times the journals were cited in four base journals with adjustments for journal size and longevity. The results show that Real Estate Economics is the most cited journal among real estate publications followed closely by the Journal of Real Estate Finance and Economics and The Journal of Real Estate Research. A temporal analysis reveals a shift over the time period in citations away from the traditional economics and practitioner-oriented journals to the academic real estate journals.

Business computing system research: Structuring the field

For over a decade now, scholars have been debating the definition, evolution and scope of research in the field of business computing systems. This article chronicles that debate by examining both philosophical and pragmatic perspectives. It also contributes to the debate by offering a hierarchic taxonomy of forums for publishing business computing research. The taxonomys first stratum consists of two categories--academic journals and practitioner publications. Academic journals are further categorized by three orientations--business/managerial, computer science/engineering and general/social sciences. The first of these is further segmented, including the identification of five categories of journals devoted to business computing research. The roots and relationships of categories within the taxonomy are analyzed in light of existing studies. Empirical support for the business computing categories is presented.

Corporate real estate financing methods: A statistical study of corporations’ choices

This study examines the financing methods used by corporations to acquire real estate for their operations. It also examines the opinion of managers about the factors that they consider in choosing financing methods. The data were provided by a survey questionnaire that was sent to members of the International Association of Corporate Real Estate Executives. It was found that companies rely on internal financing (operating cash flows) and external financing such as long‐term leasing, joint ventures, property mortgages and sale/leaseback arrangements. The top‐ranked methods of finance include operating cash flows, property mortgages, leasing and sales/leasebacks. Use of real estate investment trusts, collateralised mortgage obligations and mortgage‐backed securities were the lowest‐ranked forms of financing. Managers tend to look at tax advantages of debt and availability of cash flows in deciding which financing methods to use, rather than theoretical corporate finance factors such as bankruptcy cost. There were significant differences in opinion by industry and by company size regarding the use of cash flows and the impact of debt financing on common stock prices.

Presidential administrations and the day-of-the-week effect in stock returns

Abstract This study examines the presence of a day-of-the-week effect over different presidential administrations. The results indicate that the day-of-the-week effect prevails during the Democratic and Republican administrations. However, the pattern of the day-of-the-week effect differs between the two presidential administrations. Specifically, the negative returns on Monday are more pronounced during the Republican than during the Democratic administrations. Therefore, explanations for the day-of-the-week effect should take into account the changing pattern of the day-of-the-week effect across presidential administrations.

Open-Market Stock Repurchases by Insurance Companies and Signaling

The signaling hypothesis of share repurchases implies that management uses repurchases to signal either that their firms future operating performance will improve or that shares of their stock are simply underpriced by the market. This study examines which of the two interpretations can better explain open‐market share repurchase programs announced by insurance companies. We find no evidence that future‐operating performance of insurers improves following the repurchase announcement. In addition, changes in future operating performance cannot explain the announcement‐period abnormal return. Instead, the stock undervaluation prior to the repurchase announcement can significantly explain the announcement‐period abnormal return, particularly for life insurers. Overall, our results suggest that the positive market reaction to insurers’ open‐market share repurchase announcements is due to the stock undervaluation by the market, but not due to positive information content about future operating performance conveyed in the repurchase announcement.

The 1986 Tax Reform Act and ex-dividend day price and volume patterns: Evidence from organized exchanges and the OTC market

By effectively removing the differential taxation of dividends and capital gains, the 1986 Tax Reform Act provides a unique opportunity to re-examine the “tax induced clientele” explanation of ex-dividend day price behavior. The analysis indicates an increased preference for dividends and provides evidence of significant abnormal volume during the ex-dividend period, consistent with dividend induced trading activity. In addition, the level of dividend preference is found to be far greater on the organized exchanges than in OTC trading.