Skip to main content

Research Quality at Queen's University Management School

Every six years or so, the UK university system is subject to a research assessment exercise (currently known as the Research Excellent Framework - REF). The stated purpose of this exercise is to guide government funding for universities to those doing the best research. The 2014 REF assessed the quality of research outputs (books and journal articles), the quality of research environment, and the societal impact of research over the period 2008-2013. Each broad university discipline got a score somewhere between 1* (not good) and 4* (top of the pile). 

The results of REF 2014 were released just before Christmas. Many university departments and universities were delighted with the high grade point average (GPA) scores they achieved. But a deeper analysis of the results reveals that there was a lot of game playing taking place. First, some university departments only submitted their best researchers, which pushed up their GPAs. But this doesn't reflect the true research quality of that particular department. Second, some universities created research institutes (for an example click here) which excluded most staff in the department or faculty, but for the purposes of the REF, the research institute was the department. Click here to read more about REF game playing.

Queen's University Belfast did not engage in REF game playing. In terms of GPA, it ranked 42nd out of 101 institutions, but when its GPA is weighted by the percentage of staff submitted to REF (research intensity), it jumps to 8th in the UK (click here)! In terms of Queen's University Management School (QUMS), we jump from joint 34th to 9th in the UK! The Association of Business School's analysis of the REF results, which looks at breadth and depth of research, places QUMS 13th in the UK  - click here for their league table.

Overall, the 2014 REF results suggest that Queen's University Management School is in the top decile of UK business schools. Why has it been able to achieve this? Two reasons. First, it has a rich research culture inhabited by remarkable academics. Second, it has amazing PhD, MSc and BSc students who inspire academics to engage in world-leading research.  

Popular posts from this blog

How Valuable Are Connections?

Daron Acemoglu, Simon Johnson, Amir Kermani, James Kwak and Todd Mitton have written a paper on whether firms connected to Timothy Geithner benefited from these connections. They do so by looking at how stocks of these firms reacted to the announcement that he was a nominee for Treasury Secretary in November 2008. They find that there were large abnormal returns for connected firms. Below is the paper's abstract and the full paper is available here . The announcement of Timothy Geithner as nominee for Treasury Secretary in November 2008 produced a cumulative abnormal return for financial firms with which he had a connection. This return was about 6% after the first full day of trading and about 12% after ten trading days. There were subsequently abnormal negative returns for connected firms when news broke that Geithner's confirmation might be derailed by tax issues. Excess returns for connected firms may reflect the perceived impact of relying on the advice of a small ne...

Boom and Bust: A Global History of Financial Bubbles

Boom and Bust: A Global History of Financial Bubbles, co-authored with my colleague Will Quinn , is forthcoming in August. It is published by Cambridge University Press and is available for pre-order at Amazon , Barnes and Noble , Waterstones and Cambridge University Press . 

Bank Runs in Greece

Deposit withdrawals in Greece have been substantial over the past two years.  However, the failure of Greece's politicians to form a coalition government has resulted in deposit withdrawals accelerating - click here and here for more on this.  Depositors are rightly concerned about the exit of Greece from the euro and the subsequent devaluation of their deposits.  The puzzle for me and many others is why are there so many deposits still remaining in the Greek banking system.  One reason is that the Greek banking system is being kept alive by massive injections of money from the ECB.  Will the ECB continue to support the Greek banking system in the face of a mass withdrawal of deposits?  I doubt that there is the political will in Germany for this as the Bundesbank already has a huge exposure to Greece (as well as Spain and Italy) through the ECB's internal Target 2 system.