stock repurchase announcements: a test of market ... - Asbbs.org
stock repurchase announcements: a test of market ... - Asbbs.org
stock repurchase announcements: a test of market ... - Asbbs.org
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Fekula and Hornyak<br />
<strong>of</strong> qualit y research being published thr ough abundant time and r esources is n ot onl y hi gher, but has a<br />
greater probability <strong>of</strong> acceptance into top-tier journals. We also expect that the best researchers would be<br />
hired by the top institutions, which can afford to <strong>of</strong>fer greater compensation.<br />
In sum, it is no surprise t hat top schoo ls with abund ant resources have prod uctive faculty who have the<br />
time, resources, and capabilit y t o generate research that can be published in top-tier journals. The<br />
evidence in this study and others (Fekula & Hornyak, 2007) bears this out. So, the real issue <strong>of</strong> concern is<br />
not what the top schools are doing, but what th e lower-ranked schools are cap able <strong>of</strong> doing in the<br />
publishing realm.<br />
It is not only the rec ent years that have seen a change in faculty performance expectations. Historically,<br />
faculty members at small institutions have expressed concern about increased publication expectations,<br />
which impact promotion, tenure, and ultimately retention (Buzza, 1989). In more recent years, faculty<br />
members have identified an increa se in faculty productivi ty amidst dim inishing financial resources<br />
(Elmes-Crahall, 1992). Reductions in financial r esources and university -supported publication outlets<br />
have been ch aracterized as a “near crisis” in pu blishing (Alonso, Davidson, Unsworth & W ithey, 2003).<br />
Although some suggest that these phenom ena are li mited to the traditional resear ch scho ols, a major<br />
collegiate report cites increasing demands for research productivity that have had a ripple effect impacting<br />
even the trad itional teaching institutions wher e publication has taken on increased i mportance over t he<br />
past 10 years (Modern Language Association, 2007).<br />
No one would argue that scholarship and research are not good things (Nelson, 2004), but there are trade<strong>of</strong>fs<br />
to be m ade. Some evidence suggests that quant ity is supplanting qualit y. In court, a pr<strong>of</strong>essor won<br />
her tenure decision case because the school did not specify in advance that a number <strong>of</strong> publications were<br />
required for tenure. She argued that ha d the criteria been quantified, she could have published numerous<br />
articles from her work instead <strong>of</strong> just the one top-tier publication that she had managed to achieve (Euben,<br />
2002). When viewed as a numbers game, excessive demands reduce publications to a highly sought-after<br />
commodity (Burgan, 2003) and the process <strong>of</strong> research to the status <strong>of</strong> a competition (Nelson, 2004). As<br />
one pr<strong>of</strong>essor puts it:<br />
With my teaching load, if I 'm going t o do resear ch and publis h, it' s going to happen in the<br />
summer. Do you think I' m going to r ead widely and see what strikes me? Of course not! I'm<br />
going to find the first dozen or so articles and boo ks and write my journal article from them...for<br />
good or for bad. Is that anti-intellectual? Ther e's n othing i ntellectual about this process. The<br />
pressure for increased publication has nothi ng to do with increasing hum an knowledge; it' s<br />
strictly about some weird academic commerce that doesn't even make economic sense! (S haviro,<br />
2004, para. 4)<br />
As indicated in the Modern Language Association (MLA) report, publication should not be the reason for<br />
scholarship; scholarship should be t he reason for publication (Withey , 2007). In addition to the potential<br />
impact upon scholarship, the ever-increasing dem ands for both teaching and publication (Howard, 2006)<br />
can distill faculty efforts in all areas. One student concludes that Harvard has much to learn about<br />
teaching because tenured pr<strong>of</strong>essors de vote themselves to intensive resear ch (Metrailler, n.d.). Given<br />
Harvard’s resources, we would expec t the prob lem to be com pounded at universities with fewer<br />
resources. In the face <strong>of</strong> excessive demands, new f aculty members might even question whether getting<br />
tenure is worth the trou ble it takes (Burgan, 20 03), especially when other performance criteria c an<br />
misdirect faculty behavior. One pr<strong>of</strong>essor laments the fact that she spent any time at all doing things other<br />
than publishi ng. E ven aft er buildi ng a highl y acclai med university progra m, she found herself job<br />
searching. “Like countless other assistant pr<strong>of</strong>essors be fore me, I walked right into the s ervice trap ”<br />
(Murphy, 2007, para. 23).<br />
ASBBS E-Journal, Volume 4, No.1, 2008<br />
33