Do Lead Articles Signal Higher Quality in the Digital Age? Evidence from Finance Journals

Citations are regarded as measures of quality yet citation rates vary widely within each of the top finance journals. Since article ordering is at the discretion of editors, lead articles can be interpreted as signals of quality that academics can use to allocate their attention and assert the value of their publications. Advances in electronic journal access allow researchers to directly access articles, suggesting article ordering may be less relevant today. We confirm the past importance of lead articles by examining citation rates from published papers as well as the wider source of papers that are listed in Google Scholar. Our findings also confirm using Google Scholar as a citation source provides congruent results to using citations from articles published in ISI-listed journals, with the additional benefit of it potentially being more timely since it includes wider citation sources, inclusive of working and conference papers.