Jonathan Brogaard and Rob Palmatier achieve Emerald Citations of Excellence

Two professors at the University of Washington Foster School of Business—Robert Palmatier and Jonathan Brogaard—have received 2017 Emerald Citations of Excellence.

The Citations of Excellence, part of the Emerald Publishing Group’s annual Literati Awards, recognize authors of the papers that are cited the most across all business disciplines by other scholars during a given year. Academic citations are a key indicator of a study’s influence and relevance.

Demystifying HFT

Jonathan Brogaard

Brogaard is an assistant professor of finance and GM Nameplate Endowed Faculty Fellow at the Foster School.

Winning the Emerald Citation of Excellence is his 2014 paper, “High-Frequency Trading and Price Discovery,” co-authored by Terrence Hendershott and Ryan Riordan. The study sheds some empirical light on high-frequency trading (HFT), a controversial new breed of market-maker that buys and sells at unprecedented volumes and speeds using complex algorithms running on powerful computers. The arrival of high-frequency trading over the past decade or so has been disconcerting to traditional investors. HFTs are obtuse, unregulated, incredibly profitable and often accused of causing frightening market-wide shocks such as the “flash crash” of May 2010.

But Brogaard’s paper associates HFTs with at least one positive: improved market quality. Specifically, they help incorporate new information into prices faster.

The paper, published in the Review of Financial Studies, previously received the Michael J. Brennan Award, as the year’s top contribution to the influential finance journal.

Examining RBT

Rob Palmatier

Palmatier is a professor of marketing, the John C. Narver Endowed Professor in Business Administration and research director of Foster’s Center for Sales and Marketing Strategy.

His Citation of Excellence-winning paper is “Resource-based theory in marketing,” co-authored by Irina Kozlenkova and Steve Samaha.

The 2014 paper, published in the Journal of the Academy of Marketing Science, provides a comprehensive review of resource-based theory (RBT), an increasingly popular marketing framework for explaining and predicting competitive advantages and performance outcomes that result from the possession of key strategic assets.

Earlier this year, the American Marketing Association named Palmatier the 12th most productive marketing researcher in the world. He has received the AMA’s Varadarajan Award for Early Contribution to Marketing Strategy Research (2012) and the Journal of Marketing’s Harold H. Maynard Award (2008) for significant contribution to marketing theory and thought. He was named a Marketing Science Institute Young Scholar (2007) and an SMA Palgrave Promising Youth Scholar (2008). He has won three Louis W. Stern Awards from the AMA, for papers that have made huge impact on the field of marketing channels and distribution strategy. In 2015, he received the Sheth Journal of Marketing Award and the Robert D. Buzzell Award from the Marketing Science Institute.

Palmatier’s 2013 Journal of Marketing paper introducing the notion of corporate relationship velocity earned an Emerald Citations of Excellence Award last year.