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Public Finance and Management

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• Description
• Aims and Scope
• Editorial Board
• Abstracting / Indexing
• Submission Guidelines

As an interdisciplinary journal, Public Finance and Management serves as a forum for new insights on foundational research themes in public finance and management as well as a platform for empirical research on emergent topics at the intersection of public finance and public management.

In addition, the journal presents innovative evidence-based research from different regions of the world and across local, regional, state, and national levels of government to offer an international perspective on public finance and management topics.

The journal welcomes empirical research on traditional aspects of public finance and management, including tax revenue management, expenditure management, debt management, governmental accounting, auditing, and financial reporting, governmental budgeting, and government procurement and contract management. The journal is also open to research on emergent and underexplored topics in public finance and management, including behavioral public financial management, digitalization of public finance, public financing of climate-resilient infrastructure systems, and optimal public-finance responses to major global crises.

Public Finance and Management publishes quantitative, qualitative, and mixed methods research, and all manuscripts are subject to a double-anonymous peer-review process.

Manuscript Submission Guidelines:  Public Finance and Management

Public Finance and Management is a member of the Committee on Publication Ethics .

Please read the guidelines below then visit Public Finance and Management’s submission site [  https://mc.manuscriptcentral.com/pfam  ] to upload your manuscript. Please note that manuscripts not conforming to these guidelines may be returned. Remember you can log in to the submission site at any time to check on the progress of your paper through the peer review process.

Sage disseminates high-quality research and engaged scholarship globally, and we are committed to diversity and inclusion in publishing. We encourage submissions from a diverse range of authors from across all countries and backgrounds.

Only manuscripts of sufficient quality that meet the aims and scope of Public Finance and Management will be reviewed.

There are no fees payable to submit or publish in Public Finance and Management.

As part of the submission process you will be required to warrant that you are submitting your original work, that you have the rights in the work, and that you have obtained and can supply all necessary permissions for the reproduction of any copyright works not owned by you, that you are submitting the work for first publication in Public Finance and Management (PFM) and that it is not being considered for publication elsewhere and has not already been published elsewhere. Please see our guidelines on prior publication and note that PFM will consider submissions of papers that have been posted on preprint servers; please alert the Editorial Office when submitting (contact details are at the end of these guidelines) and include the DOI for the preprint in the designated field in the manuscript submission system. Authors should not post an updated version of their paper to a preprint server while it is being peer reviewed for possible publication in Public Finance and Management . If your paper is accepted, you will need to contact the preprint server to ensure the final published article link is attached to your preprint. Learn more about our preprint policy here .

If you have any questions about publishing with Sage, please visit the Sage Journal Solutions Portal .

• What do we publish? 1.1 Aims & Scope 1.2 Article types 1.3 Writing your paper
• Editorial policies 2.1 Peer review policy 2.2 Authorship 2.3 Acknowledgements 2.4 Funding 2.5 Declaration of conflicting interests 2.6 Research ethics and patient consent 2.7 Research data
• Publishing policies 3.1 Publication ethics 3.2 Contributor’s publishing agreement 3.3 Open access and author archiving
• Preparing your manuscript 4.1 Formatting 4.2 Artwork, figures and other graphics 4.3 Identifiable information 4.4 Supplemental material 4.5 Reference style 4.6 English language editing services
• Submitting your manuscript 5.1 ORCID 5.2 Information required for completing your submission 5.3 Permissions
• On acceptance and publication 6.1 SAGE Production 6.2 Online First publication 6.3 Access to your published article 6.4 Promoting your article
• Further information 7.1 Appealing the publication decision

1. What do we publish?

1.1 Aims & Scope

Before submitting your manuscript to Public Finance and Management , please ensure you have read the Aims & Scope.

1.2 Article types

Public Finance and Management publishes Research Articles and Book Reviews.

1.3 Writing your paper

Visit the Sage Author Gateway for general advice on how to get published , plus links to further resources.

Sage Author Services also offers authors a variety of ways to improve and enhance your article including English language editing, plagiarism detection, and video abstract and infographic preparation.

1.3.1 Make your article discoverable

For information and guidance on how to make your article more discoverable, visit our Gateway page on How to Help Readers Find Your Article Online .

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2. Editorial policies

2.1 Peer review policy

Sage does not permit the use of author-suggested (recommended) reviewers at any stage of the submission process, be that through the web-based submission system or other communication.

Reviewers should be experts in their fields and should be able to provide an objective assessment of the manuscript. Our policy is that reviewers should not be assigned to a paper if:

• The reviewer is based at the same institution as any of the co-authors.
• The reviewer is based at the funding body of the paper.
• The author has recommended the reviewer.
• The reviewer has provided a personal (e.g. Gmail/Yahoo/Hotmail) email account and an institutional email account cannot be found after performing a basic Google search (name, department and institution).

Public Finance and Management (PFM)’ s policy is to have manuscripts reviewed by two expert reviewers. PFM utilizes a double-anonymized peer review process in which the reviewer and authors’ names and information are withheld from the other. All manuscripts are reviewed as rapidly as possible, while maintaining rigor. Reviewers make comments to the author and recommendations to the Editor who then makes the final decision.

The Editor or members of the Editorial Board may occasionally submit their own manuscripts for possible publication in PFM. In these cases, the peer review process will be managed by alternative members of the Board and the submitting Editor/Board member will have no involvement in the decision-making process.

Special issue manuscripts are sent to Guest Editors upon submission to ensure they meet the scope of the special issue. The rest of the peer review process will be handled by Public Finance and Management' s internal editorial team. Reviewers make comments to the author and recommendations to the Editor who then makes the final decision. 

Public Finance and Management is committed to delivering high quality, fast peer-review for your paper, and as such has partnered with Web of Science (previously Publons). Web of Science is a third-party service that seeks to track, verify and give credit for peer review. Reviewers for PFM can opt in to Web of Science in order to claim their reviews or have them automatically verified and added to their reviewer profile. Reviewers claiming credit for their review will be associated with the relevant journal, but the article name, reviewer’s decision and the content of their review is not published on the site. For more information visit the Web of Science website .

2.2 Authorship

All parties who have made a substantive contribution to the article should be listed as authors. Principal authorship, authorship order, and other publication credits should be based on the relative scientific or professional contributions of the individuals involved, regardless of their status. A student is usually listed as principal author on any multiple-authored publication that substantially derives from the student’s dissertation or thesis.

Please note that AI chatbots, for example ChatGPT, should not be listed as authors. For more information see the policy on Use of ChatGPT and generative AI tools .

2.3 Acknowledgements

All contributors who do not meet the criteria for authorship should be listed in an Acknowledgements section. Examples of those who might be acknowledged include a person who provided purely technical help, or a department chair who provided only general support.

Please supply any personal acknowledgements separately to the main text to facilitate anonymous peer review.

Per ICMJE recommendations , it is best practice to obtain consent from non-author contributors who you are acknowledging in your paper.

2.3.1 Third party submission

Where an individual who is not listed as an author submits a manuscript on behalf of the author(s), a statement must be included in the Acknowledgements section of the manuscript and in the accompanying cover letter. The statements must:

• Disclose this type of editorial assistance – including the individual’s name, company and level of input
• Identify any entities that paid for this assistance
• Confirm that the listed authors have authorized the submission of their manuscript via third party and approved any statements or declarations, e.g. conflicting interests, funding, etc.

Where appropriate, Sage reserves the right to deny consideration to manuscripts submitted by a third party rather than by the authors themselves.

2.3.2 Writing assistance

Individuals who provided writing assistance, e.g. from a specialist communications company, do not qualify as authors and so should be included in the Acknowledgements section. Authors must disclose any writing assistance – including the individual’s name, company and level of input – and identify the entity that paid for this assistance. It is not necessary to disclose use of language polishing services.

2.4 Funding

Public Finance and Management requires all authors to acknowledge their funding in a consistent fashion under a separate heading.  Please visit the Funding Acknowledgements page on the Sage Journal Author Gateway to confirm the format of the acknowledgment text in the event of funding, or state that: This research received no specific grant from any funding agency in the public, commercial, or not-for-profit sectors. 

2.5 Declaration of conflicting interests

It is the policy of Public Finance and Management to require a declaration of conflicting interests from all authors enabling a statement to be carried within the paginated pages of all published articles.

Please ensure that a ‘Declaration of Conflicting Interests’ statement is included at the end of your manuscript, after any acknowledgements and prior to the references. If no conflict exists, please state that ‘The Author(s) declare(s) that there is no conflict of interest’. For guidance on conflict of interest statements, please see the ICMJE recommendations here .

2.6 Research ethics and patient consent

Information on informed consent to report individual cases or case series should be included in the manuscript text. A statement is required regarding whether written informed consent for patient information and images to be published was provided by the patient(s) or a legally authorized representative. Please do not submit the patient’s actual written informed consent with your article, as this in itself breaches the patient’s confidentiality. Public Finance and Management requests that you confirm to us, in writing, that you have obtained written informed consent but the written consent itself should be held by the authors/investigators themselves, for example in a patient’s hospital record. The confirmatory letter may be uploaded with your submission as a separate file. Please also refer to the ICMJE Recommendations for the Protection of Research Participants .

All papers reporting human studies must state in the methods section that the relevant ethics committee or institutional review board provided (or waived) approval. Please ensure that you have provided the full name and institution of the review committee, in addition to the approval number. Manuscripts of this type should conform to the ICMJE Recommendations for the Conduct, Reporting, Editing, and Publication of Scholarly Work in Medical Journals .

2.7 Research data

Public Finance and Management is committed to facilitating openness, transparency and reproducibility of research, and has the following research data sharing policy. For more information, including FAQs please visit the Sage Research Data policy pages .

Subject to appropriate ethical and legal considerations, authors are encouraged to:

• Share your research data in a relevant public data repository
• Include a data availability statement linking to your data. If it is not possible to share your data, use the statement to confirm why it cannot be shared.
• Cite this data in your research

If you need to anonymize your research data for peer review, please refer to our Research Data Sharing FAQs for guidance .

3. Publishing policies

3.1 Publication ethics

Sage is committed to upholding the integrity of the academic record. We encourage authors to refer to the Committee on Publication Ethics’ International Standards for Authors and view the Publication Ethics page on the Sage Author Gateway .

3.1.1 Plagiarism

Public Finance and Management and Sage take issues of copyright infringement, plagiarism or other breaches of best practice in publication very seriously. We seek to protect the rights of our authors and we always investigate claims of plagiarism or misuse of published articles. Equally, we seek to protect the reputation of Public Finance and Management against malpractice. Submitted articles may be checked with duplication-checking software. Where an article, for example, is found to have plagiarized other work or included third-party copyright material without permission or with insufficient acknowledgement, or where the authorship of the article is contested, we reserve the right to take action including, but not limited to: publishing an erratum or corrigendum (correction); retracting the article; taking up the matter with the head of department or dean of the author's institution and/or relevant academic bodies or societies; or taking appropriate legal action.

3.1.2 Prior publication

If material has been previously published it is not generally acceptable for publication in a Sage journal. However, there are certain circumstances where previously published material can be considered for publication. Please refer to the guidance on the Sage Author Gateway or if in doubt, contact the Editor at the address given below.

3.2 Contributor’s publishing agreement

Before publication, Sage requires the author as the rights holder to sign a Journal Contributor’s Publishing Agreement. Sage’s Journal Contributor’s Publishing Agreement is an exclusive license agreement which means that the author retains copyright in the work but grants Sage the sole and exclusive right and license to publish for the full legal term of copyright. Exceptions may exist where an assignment of copyright is required or preferred by a proprietor other than Sage. In this case copyright in the work will be assigned from the author to the society. For more information, please visit the Sage Author Gateway .

3.3 Open access and author archiving

Public Finance and Management offers optional open access publishing via the Sage Choice program. For more information on Open Access publishing options at Sage please visit Sage Open Access . For information on funding body compliance, and depositing your article in repositories, please visit Sage’s Author Archiving and Re-Use Guidelines and Publishing Policies .

4. Preparing your manuscript

4.1 Formatting

All manuscripts submitted for review must:

• Be submitted as a Microsoft Word file.
• Be double-spaced with standard fonts and margins.
• Be formatted according to APA style guidelines.
• All author identifiers must be removed from the manuscript before submission.
• Include a cover letter with author contact information, attached as a separate file.

4.2 Artwork, figures and other graphics

Tables, figures, and graphics should be inserted in the place they should appear in the text rather than as an appendix.

For guidance on the preparation of illustrations, pictures and graphs in electronic format, please visit Sage’s Manuscript Submission Guidelines .

4.3 Identifiable information

Where a journal uses double-anonymized peer review, authors are required to submit:

• A version of the manuscript which has had any information that compromises the anonymity of the author(s) removed or anonymized. This version will be sent to the peer reviewers.
• A separate title page which includes any removed or anonymized material. This will not be sent to the peer reviewers.

Visit the Sage Author Gateway for detailed guidance on making an anonymous submission .

4.4 Supplemental material

Public Finance and Management is able to host additional materials online (e.g. datasets, podcasts, videos, images etc.) alongside the full-text of the article. For more information please refer to our guidelines on submitting supplemental files .

4.5 Reference style

Public Finance and Management adheres to the APA reference style. View the APA guidelines to ensure your manuscript conforms to this reference style.

4.6 English language editing services

Authors seeking assistance with English language editing, translation, or figure and manuscript formatting to fit Public Finance and Management ’s specifications should consider using Sage Language Services. Visit Sage Language Services on our Journal Author Gateway for further information .

5. Submitting your manuscript

Public Finance and Management is hosted on Sage Track, a web based online submission and peer review system powered by ScholarOne™ Manuscripts. Visit [  https://mc.manuscriptcentral.com/pfam  ] to login and submit your article online.

IMPORTANT: Please check whether you already have an account in the system before trying to create a new one. If you have reviewed or authored for Public Finance and Management in the past year it is likely that you will have had an account created.  For further guidance on submitting your manuscript online please visit ScholarOne Online Help .

As part of our commitment to ensuring an ethical, transparent and fair peer review process Sage is a supporting member of ORCID, the Open Researcher and Contributor ID . ORCID provides a unique and persistent digital identifier that distinguishes researchers from every other researcher, even those who share the same name, and, through integration in key research workflows such as manuscript and grant submission, supports automated linkages between researchers and their professional activities, ensuring that their work is recognized.

The collection of ORCID IDs from corresponding authors is now part of the submission process of Public Finance and Management . If you already have an ORCID ID you will be asked to associate that to your submission during the online submission process. We also strongly encourage all co-authors to link their ORCID ID to their accounts in our online peer review platforms. It takes seconds to do: click the link when prompted, sign into your ORCID account and our systems are automatically updated. Your ORCID ID will become part of your accepted publication’s metadata, making your work attributable to you and only you. Your ORCID ID is published with your article so that fellow researchers reading your work can link to your ORCID profile and from there link to your other publications.

If you do not already have an ORCID ID please follow this link to create one or visit our ORCID homepage to learn more .

5.2 Information required for completing your submission

You will be asked to provide contact details and academic affiliations for all co-authors via the submission system and identify who is to be the corresponding author. These details must match what appears on your manuscript. The affiliation listed in the manuscript should be the institution where the research was conducted. If an author has moved to a new institution since completing the research, the new affiliation can be included in a manuscript note at the end of the paper. At this stage please ensure you have included all the required statements and declarations and uploaded any additional supplementary files (including reporting guidelines where relevant).

5.3 Permissions

Please also ensure that you have obtained any necessary permission from copyright holders for reproducing any illustrations, tables, figures or lengthy quotations previously published elsewhere. For further information including guidance on fair dealing for criticism and review, please see the Copyright and Permissions page on the Sage Author Gateway .

6. On acceptance and publication

6.1 SAGE Production

Your Sage Production Editor will keep you informed as to your article’s progress throughout the production process. Proofs will be made available to the corresponding author via our editing portal Sage Edit or by email, and corrections should be made directly or notified to us promptly. Authors are reminded to check their proofs carefully to confirm that all author information, including names, affiliations, sequence and contact details are correct, and that Funding and Conflict of Interest statements, if any, are accurate.

6.2 Online First publication

Online First allows final articles (completed and approved articles awaiting assignment to a future issue) to be published online prior to their inclusion in a journal issue, which significantly reduces the lead time between submission and publication. Visit the Sage Journals help page for more details, including how to cite Online First articles.

6.3 Access to your published article

Sage provides authors with online access to their final article.

6.4 Promoting your article

Publication is not the end of the process! You can help disseminate your paper and ensure it is as widely read and cited as possible. The Sage Author Gateway has numerous resources to help you promote your work. Visit the Promote Your Article page on the Gateway for tips and advice.

7. Further information

Any correspondence, queries or additional requests for information on the manuscript submission process should be sent to the Public Finance and Management editorial office as follows:

Editor in Chief:  Dr. Komla Dzigbede, State University of New York at Binghamton Email:   [email protected]

Co-Editor in Chief: Dr. Phuong Nguyen-Hoang, University of Iowa Email: [email protected]

7.1 Appealing the publication decision

Editors have very broad discretion in determining whether an article is an appropriate fit for their journal. Many manuscripts are declined with a very general statement of the rejection decision. These decisions are not eligible for formal appeal unless the author believes the decision to reject the manuscript was based on an error in the review of the article, in which case the author may appeal the decision by providing the Editor with a detailed written description of the error they believe occurred.

If an author believes the decision regarding their manuscript was affected by a publication ethics breach, the author may contact the publisher with a detailed written description of their concern, and information supporting the concern, at [email protected]

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Article Contents

Introduction, what is the proper role of administrative expertise in democratic institutions, how do we manage public organizations to achieve the best outcomes, how do public organizations adapt to their changing environments.

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Why Public Financial Management Matters

• Article contents
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Sharon N. Kioko, Justin Marlowe, David S. T. Matkin, Michael Moody, Daniel L. Smith, Zhirong J. Zhao, Why Public Financial Management Matters, Journal of Public Administration Research and Theory , Volume 21, Issue suppl_1, January 2011, Pages i113–i124, https://doi.org/10.1093/jopart/muq060

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Public administration and management (PAM) scholars have long recognized that financial resources are the lifeblood of public organizations. Less appreciated is how the study of public financial management (PFM) can inform the theory, research, and practice of PAM broadly. In this article, we argue that PFM research brings a variety of conceptual, analytical, and empirical insights to bear on some of public administration and management's timeless questions. To illustrate this claim, we synthesize findings from a variety of research across the PFM subfield.

Financial resource availability shapes many of the outcomes that matter to public administration, including the effectiveness of public service delivery networks ( Provan and Milward 1995 ), the decision to undertake management reforms ( Moynihan 2005 ), performance implications of managers' networking activities ( Meier and O'Toole 2003 ), and nonprofits' decisions to pursue “entrepreneurial” activities ( LeRoux 2005 ), among many others. But how financial resources are managed—what we call public financial management (PFM)—receives little attention outside the PFM subfield. Public administration and management (PAM) scholars are keenly aware of how and why financial resources matter. But aside from some noteworthy exceptions ( Hou 2006 ; Hou and Moynihan 2008 ; Krause and Douglas 2005 ; Thompson and Gates 2007 ), research on PFM's traditional concerns—governmental accounting and auditing, debt policy and management, revenue forecasting, tax administration, public procurement, and others—rarely appears in mainstream PAM outlets. To a large degree, the opposite is also true: Many PFM specialists relegate the political, organizational, and institutional contexts of their own work to the periphery. Over time, these tendencies have fostered an intellectual bifurcation between PAM and PFM that, we believe, is both unfortunate and unnecessary. This is especially true in our current financial environment, in which governments around the world are taking on unprecedented levels of debt, ownership of previously private industry, and other financial risks and responsibilities. Now, more than ever, speaking truth to power means being able to talk about dollars and cents.

Our central claim is two-fold: PAM can benefit from more careful attention to the implications of research on traditional PFM topics, and the connections between the two could be much tighter if PFM scholars paid more careful attention to decidedly PAM concepts and theories. To advance this claim, we synthesize and characterize carefully selected PFM research that, in our view, illustrates how PFM research can bring new perspectives to three timeless PAM questions: (1) What is the proper role of administrative expertise in democratic institutions? (2) How do we manage public organizations to achieve the best outcomes? and (3) How do public organizations adapt to their changing environments? These are not the only questions upon which PFM has something to offer PAM. Rather, they are the questions where the connections between PFM and PAM were most obvious to us and where those connections could be explicated in a limited space.

A key area of inquiry within PAM is the reconciliation of nonrepresentative administrative expertise and its values of efficiency and effectiveness, with democratic legitimacy and its values of representation, fairness, and responsiveness (see Finer 1961 ; Friedrich 1940 ; Lowi 1969 ; Mashaw 1985 ; Simon 1946 ; Waldo 1948 ; Wilson 1887 ). 1 Research in this area often focuses on the activities of public administrators, usually executive generalists, within the policy process and on the efforts of elected officials to influence managerial practices (see Aberbach and Rockman 2000 ; Heclo 1977 ; Svara 2001 ). PFM is especially well positioned to expand our understanding of administrative expertise within democratic institutions because few other subfields in PAM have as much claim to technical expertise and are as well developed to address the effects of complex technical activity on political and organizational functions.

As yet, however, PFM scholarship has not fulfilled its potential to enhance our understanding in this area. An important reason for this unfulfilled potential is that PFM is often perceived within PAM as fundamentally rational, technocratic, and arcane—the realm of technical expertise, far removed from the political side of the politics-administration heuristic ( Miller 1991 ). There are, of course, noted exceptions, such as the well-developed and respected literature of budgetary politics (see Gosling 2006 ; Key 1940 ; Rubin 1993 ; Wildavsky 1964 ). However, research into other contemporary issues in PFM can offer significant opportunities to better understand the role of administrative expertise in democratic institutions. We provide three suggestions for further research to advance this line of discussion.

Communication of Technical Information to Elected Officials and the Public

Many areas of PFM, such as accounting, cash management, and debt financing, utilize a highly technical and specific language. Public managers act to bridge the language barriers between the technical terminology of financial expertise and the world of electoral politics and civic engagement ( Nalbandian 2005 ). Successful financial managers are experts at translating technical knowledge into information that can have a significant impact on the decisions of public officials ( Hildreth 1996 ). But in the world of politics, information is asymmetric, such that access to financial information is certain to advantage some interests (e.g., those of executive administrators, budget officials, committee members, and professionals including accountants and auditors) over others. Although public officials have greater access to financial information or a more sophisticated understanding of widely accessible information, research into the communication of financial information can help PAM scholars better understand how the technical information is used in policy making given such asymmetries. For example, some complexities in financial management may exist merely due to historical convention within the financial community rather than for technical or political reasons. This research could further help PAM scholars better understand why more appropriate technical solutions, such as the adoption of competitive municipal bond sales, have not been adopted as one may expect in light of the empirical literature ( Simonsen and Kittredge 1998 ). It would also provide a basis for establishing new standards of communicating financial information and making information readily accessible.

Balancing Administrative Values of Efficiency and Effectiveness with Democratic Values of Equity and Fairness

Though PFM is often viewed as a subfield concerned almost exclusively with administrative concepts of efficiency and effectiveness, PFM scholarship is well positioned to improve our understanding of the democratic ideals of responsiveness and equity in public administration. 2 In fact, PFM scholarship has a long tradition of research on concepts of equity—including, for example, that on how to justify revenue instruments (i.e., the benefits and the ability-to-pay principles) and how to promote vertical and horizontal equity in tax burdens (see Brunori 2001 ; Musgrave and Musgrave 1973 ; Pechman 1985 ; Reese 1980 ).

One aspect of equity in PFM that has not been examined in PAM scholarship is concern over the effects of administrative actions on future generations. Although Frederickson (1990 , 1994 ) discusses intergenerational equity as one aspect of social equity, PAM at large has not paid sufficient attention to intergenerational equity. Some research in PFM focuses on improving the awareness and responsiveness of governments to issues of intergenerational equity. Frameworks and practical rules have been developed that shed light on the size of intergenerational burdens ( Auerbach, Kotlikoff, and Gokhale 1994 ). Increasing the awareness and responsiveness of governments to these issues, and making these issues more transparent, can improve governmental accountability ( Mead 2002 ). 3 For example, what is the impact on future generations when administrators defer maintenance during budget shortfalls? Such research can help further discussions on normative concerns over equitable administration in PAM scholarship (see Etzioni 1993 ; Frederickson 1980 ; Nalbandian 1991 ; Stivers 1994 ; Stone 1988 ) and to expand PFM interests in understanding all the relevant factors involved in financial decisions.

Maintaining Accountability in Government through Financial Reporting

The transparency and accessibility of public information in the promotion and maintenance of public sector accountability is a central concern to PAM scholars. PFM provides a particularly insightful context to investigate administrative accountability through research into the development and implementation of financial reporting standards and the creation and use of financial statements. Research into financial reporting may be helpful in better understanding the way accountability mechanisms are adopted and diffused through public organizations.

In the United States, public sector financial accounting standards are developed by the Governmental Accounting Standards Board (GASB) and the Federal Accounting Standards Advisory Boards (FASAB). Over the past three decades, these standards boards have sought to improve the standards of governmental accounting and financial reporting that would result in consistent and useful information for financial report users ( Kravchuk and Voorhees 2001 ). In developing accounting standards for state and local government, GASB has engaged in an open decision-making process that encourages broad participation. Its due process procedures are designed to permit a timely, thorough, and open study of limitations and obstacles. Notwithstanding broad participation in the decision-making process, however, the adoption of accounting standards has been met with institutional resistance, more so if they are expected to alter existing power relationships ( Carpenter and Feroz, 2001 ). Moreover, much of the participation was limited to accounting professionals and those with a vested interest in the municipal bond market including investors, credit rating agencies, and insurers ( Harris 2005 ; Rose 2000 ).

Nonetheless, PAM scholars could learn more about legitimatized forms of accountability through further investigation into the development of accounting standards, the use of financial reports, and the role of external accounting standards boards.

Another central area of inquiry within PAM is the effect of managerial actions on organizational outcomes (see Gulick 1937 ; Meier 1989 ; Rainey and Steinbauer 1999 ; Simon 1946 ; Taylor 1911 ). In particular, recent years have seen a global revolution of governmental reforms that aim for achieving better outcomes for lower expenditures ( OECD 1995 ; Peters 1996 ; US General Accounting Office 1995 ). Some countries like Australia and Sweden have focused on empowering public managers to better serve citizens by providing “quality as the customer defines it” ( Barzelay and Armajani 1992 ). Others such as Britain have followed rational choice economists in privatizing or contracting out public programs ( Savas 1982 ). Still others like the United States have sometimes looked at both sets of these approaches ( Clinton and Gore 1995 ; Kettl 1997 ; Milward and Provan 2000 ; O'Toole 1997b ; Peters and Pierre 1998 ). The driving idea behind these outcome-oriented reforms has been “managerialism” ( Boston et al. 1996 ; Kettl 1997 ; Salamon 2002 )—which holds that organizational rigidity of traditional bureaucratic hierarchy should be replaced with flexibility of network settings; emphases on structure and process should be replaced with a focus on outcomes; and the authority of command and control should be replaced with market-style competition.

PFM scholarship may be particularly equipped to assist in the study of these alternative forms of service provision because they are deeply grounded in theories of financial management—growing, in part, from suspicions of budget maximization ( Blais and Dion 1991 ; Downs 1967 ; Niskanen 1971 )—and are closely connected to budgetary reforms to make public organizations “work better and cost less.” To achieve this goal, Kettl (1997) argues that the reform should be carefully connected to core governmental processes like budgeting, in which the goal is moved from demand-driven government to results-driven government, with a profound shift from a focus on inputs (how much should we spend?) to outputs (what activities do we carry out with the input?) and ultimately to outcomes (what consequences do they produce?). This path of budgetary change, however, is not all new. There have been reiterative budget reforms throughout the decades ( Joyce 1993 ), and the ongoing efforts are continuously captured in the development of the PFM literature ( Mullins and Pagano 2005 ).

The following paragraphs present three areas of research where PFM scholars may further our understanding of current and future efforts to improve the performance of public organizations.

Developing Valid Performance Measures

There is a natural symbiosis between PFM practices and performance management. In particular, scholarship in PAM intersects with PFM scholarship because contemporary budget systems incorporate essential information on organizational outputs and outcomes. As such, PFM has and can continue to meaningfully inform theory and practice in performance management, especially in the development of valid performance indicators.

Many standard measures of financial performance—including bond rating, tax load, debt burden, surplus, and revenue forecast accuracy—are good indicators of overall organizational performance ( Ridley and Simon 1943 ). Enduring as measures of “good government,” financial indicators have served as dependent variables in research on public performance that spans a wide range of disciplines. They are valid indicators of organizational performance in that governments and agencies flourish or perish as financial conditions vary. In this sense, financial indicators are well suited to assist in answering whether management matters in public organizations—a major research question in PAM for at least a decade ( Brudney, O'Toole, and Rainey 2000 ).

PAM scholars, however, must be cautious in using financial indicators to ensure that they are valid measures of the construct of interest. For example, PAM scholars sometimes take an entity's “fund balance” as a measure of fiscal health. If not precisely operationalized, however, “fund balance” takes on different meanings depending on the accounting method used to calculate it; it is not necessarily the case that better organizational performance yields higher fund balances. Further research into financial indicators will prove to be of use to PAM scholars seeking to identify reliable and valid measures of organizational performance.

Attempts to Improve Service Delivery Methods to Achieve Better Outcomes

One of the most notable developments in public administration over the past 30 years has been the increased attention to alternative methods of public service delivery, which represents an array of approaches ranging from privatizing service provision, to franchising, contracting, volunteerism, tax expenditures, self-service, or service coproduction, etc. ( Boyne 1998 ; Martin 2000 ; Salamon 2002; Savas 1981 ). One of the motivations behind the expanse of alternative service delivery is the promise of enhanced efficiency and reduced spending in the face of a “recurring financial crisis in American cities” in 1980s ( Savas 1981 ).

PFM scholarship is particularly well positioned to evaluate claims of cost effectiveness in alternative service delivery. As of yet, PFM scholarship has been cautious about the oft-stated fiscal motivations of alternative service delivery ( Holcombe 1991 ; Mullins and Pagano 2005 ; Mullins and Zorn 1999 ; Stiefel et al. 1999 ; Wisniewski 1991 ). Actually, the trend over the 1990s was toward a reintegration of previously contracted service back into the public workforce due to problems with service quality, unfulfilled expectations for cost savings, improved internal capacity, and difficulties in performance monitoring ( Frederickson and Frederickson 2006 ) and contract specification ( Warner and Hefetz 2004 ). PFM scholars should have a continued position of advantage in this line of inquiry because of their interest in budgetary processes, tax expenditure practices, and financial reporting to examine the effectiveness of continual attempts to innovate service delivery methods in order to achieve promises of great efficiency and cost reductions.

Balancing Acceptable Levels of Risk with Desired Rewards

Efforts to maximize organizational effectiveness often involve a balance between risks of failure and promises of returns. Public administrators and elected officials often view risks and returns differently. Many of the risks and returns in PFM are much easier to identify than in other areas for PAM. When financial managers invest their government's idle cash, they know it is necessary to balance liquidity risks, market risks, and default risks, among others. Similar dynamics exist in capital financing decisions and other areas of PFM. In contrast, the risks and return in political institutions are not always as easily identified. Consider the recent San Diego pension crisis and the willingness of elected officials to risk long-term financial solvency to achieve short-term political returns ( Lowenstein 2008 ). The current derivative-based crisis and alleged-illegal activity in Jefferson County, Alabama, demonstrates a similar trade-off between political and technical risks and rewards ( Whitmire and Nossiter 2008 ). Because the control and utilization of financial resources are often essential to achieve political returns, PFM is an ideal environment to study the process and effect of demands for organizational and political returns in public institutions. For example, Hou and Moynihan (2008) discuss how states create institutional rules to constrain political choices in ways that avoid the temptation of short-term gain versus long-term health.

The final area that we highlight in this article is the effect of environment conditions and external stakeholders on the management of public organizations (see Gaus 1947 ; Kaufman 1960 ; Riggs 1967 ; Selznick 1949 ; Thompson 1967 ). Much of the PAM literature seeks to understand the role of public administrators within a rapidly changing environment, such as changing policies ( Pressman and Wildavsky 1984 ), changing legal standards ( Rohr 2002 ), or changing governance structures ( Agranoff and McGuire 2003 ; Frederickson, Johnson, and Wood 2001 ; Kettl 2002 ; Lynn, Heinrich, and Hill 2000 ). Another aspect of environmental change is reflected in the continued attention in the PAM literature to governmental reforms and administrative actions (e.g., Brownlow Commission; National Performance Review). 4

PFM provides a rich environment to develop potential insights into how public organizations adapt to their environments. Though PFM functions are often considered an internal technical function within public organizations, nearly every function studied by PFM—accounting, auditing, budgeting, revenue collection, debt management, forecasting—occurs with significant contact with external organizations and actors. Many of these exchanges profoundly affect public organizations. When seeking to acquire large capital assets, for example, public organizations often interact with credit rating agencies, investment banks, financial advisors, individual and institutional investors, and other professional organizations (e.g., the Government Finance Officers Association). In most cases, the accounting practices of public organizations are dictated by quasi-governmental entities. 5 Furthermore, there are interjurisdictional issues in PFM as multiple taxing entities often rely on the same tax base; for example, cities, counties, and school districts all rely on the same homeowners for the property tax.

The following paragraphs describe how PFM may help expand our understanding of public organizational adaptation in changing environments by examining how PFM could address PAM interest in governmental reforms and in the increasing relevance of collaborative forms of governance.

The Relationship between Government Reform and Administrative Actions

The relationship between governmental reform and administrative action over the past several decades has been deliberate and substantial. In the early 1900s, the Progressive movement inspired a series of reforms in PFM that had, and continue to have, significant bearing on organizational management. The connections between normative ideals of good governance and PFM are clearly evident in Progressive Era strategies to improve financial transparency and to limit the inappropriate use of public funds by elected officials. Later, concerns over administrative effectiveness, particularly output-based efficiency, were taken up by the Brownlow Commission, and the result was the early movement of performance budgeting. Soon after, a long-range planning perspective to strategic management necessitated the introduction of the planning-programming-budgeting (PPB) system ( Schick 1966 ). PPB advocates highlighted its systematic, comprehensive, prospective, and outcome-oriented approach. Most recently, normative claims on the inefficiency of government institutions have given rise to a variety of budgeting strategies that are expected to rationalize the budget allocation process. One key component of this latest movement is the use of performance data to inform budgetary allocations. So-called performance-based budgeting (PBB) incorporates performance objectives and programmatic results (effectiveness) into budget systems ( Brown 2003 ). Implementation of PBB at the state and federal levels is widespread, though its impact on governance remains ambiguous ( Joyce 1993 ; Willoughby and Melkers 2000 ).

Scholars of PAM have amassed a body of work on the implications of management networks, collaborative governance, and government by contract (see Agranoff and McGuire 2003 ; Hill and Lynn 2005 ; Kettl 2005 ; Lynn, Heinrich, and Hill 2000 ; Milward and Provan 2000 ; O'Toole 1997a; Peters and Pierre 1998 ), whereas experts in PFM have examined the implementation and implications of PBB (see Bourdeux 2008 ; Jordan and Hackbart 1999 ; Melkers and Willoughby 1998 , 2001 ; Willoughby and Melkers 2004 ). However, questions of how new service delivery mechanisms interact with new strategies for allocating and managing resources remain unanswered. These streams of research must cross-fertilize if we are to seriously examine administrative action as it is now framed.

Understanding the Open System Nature of Governmental Activities

Recognizing the open-system nature of governmental activities leads to a focus on an organization's unique environment and its dependency on that environment ( Feiock 2004 ; Katz and Kahn 1966 ; Pfeffer and Salancik 1978 ). Networks, collaboration, and feedback from external actors are part of the environment that managers face. PAM scholars have begun to better understand the implications of management networks and collaborative governance on public organizations and on the delivery of public goods (see Agranoff and McGuire 2003 ; Hill and Lynn 2005 ; Kettl 2005 ; Lynn, Heinrich, and Hill 2000 ; Milward and Provan 2000 ; O'Toole 1997a ; Peters and Pierre 1998 ); however, there has been little input into collaborative management and networking from PFM scholarship. The reality is, as noted above, that most of PFM's areas of inquiry are characterized by a number of external stakeholders that engage with and influence the organization through PFM functions. Scholarship focusing on the debt management function and debt management networks provides important insights. Unstable networks tend to show faster learning, whereas stable networks “breed insularity” ( Miller 1993 , 55).

Studying collaborative management in PFM functions may also yield new insights to PFM scholars into the nature of financial control, influences in decision making, and other matters of interest in PFM scholarship. For example, policy problems and solutions are increasingly resistant to jurisdictionally based responses, and collaborative arrangements are increasingly common strategies in response to those problems—but our traditional revenue and expenditure structures are jurisdictionally based, and we know little about how financial resources are accounted for and collected in order to finance extrajurisdictional activities.

The current financial crisis has forced public organizations around the world to cut budgets, restructure service delivery strategies, reset priorities, and assume enormous new financial responsibilities. This experience reminds us of the centrality of financial resources to public service delivery, a centrality that PAM scholars respect and understand. The key point of this article is that the management of public financial resources can inform PAM in heretofore underappreciated or unrecognized ways. We point out how research on some of PFM's key concerns—accounting and financial reporting, auditing, fiscal policymaking, cost analysis, cash management, and others—can inform some of PAM's classic and contemporary questions. PFM offers analytical tools, measurement strategies, observable management practices, conceptual frameworks, and other tools of substantial value to future PAM research. We hope this discussion helps PAM and PFM scholars better understand what they can offer one another.

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Although this area of inquiry is distinctly Western with its focus on administration within democratic institutions, it may also apply to nondemocratic institutions. The central concern is reconciling the authority of administrative expertise with the authority of position or office. The underlying logic is that administrative expertise has special claim to efficiency and effectiveness but that legitimacy, a primary concern for all public organizations, is obtained from the position or office.

Frederickson (1990) recalls his effort at Minnowbrook I to elevate the notion of social equity that it should have “the same status as economy and efficiency as values … to which public administration should adhere”(228).

Regens and Lauth (1992) and Marlowe (2007) touch on the intergenerational concerns related to debt issuance and Other Post-Employment Benefits obligations, respectively.

March and Olsen (1983) provide a thoughtful review and observations based on 12 major attempts at administrative reforms in the 20th century.

The GASB in the case of state and local governments in the United States; the Financial Accounting Standards Board in the case of nonprofits in the United States; and the FASAB in the case of the US Federal Government.

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Financial Management Research Paper Topics

Financial management research paper topics have emerged as an essential part of contemporary education in business and economics. As financial management continues to evolve with global economic changes, the need for research and analysis in this area grows. This article provides a comprehensive guide for students who study management and are assigned to write research papers on various aspects of financial management. From understanding the diverse topics to learning how to write an impactful research paper, this page offers valuable insights. Additionally, it introduces iResearchNet’s writing services, specifically tailored to assist students in achieving academic excellence. The content is structured to guide students through topic selection, writing, and leveraging professional services to meet their academic goals. Whether a novice or an advanced student of financial management, this resource offers a multifaceted perspective on the vast and dynamic field of financial management research.

100 Financial Management Research Paper Topics

The field of financial management offers a vast array of research paper topics. This complex discipline touches every aspect of business operations, influencing strategic planning, decision-making, and organizational growth. Below, you will find a comprehensive list of financial management research paper topics, divided into 10 categories. Each category offers 10 unique topics that cater to various interests within financial management. These topics have been carefully selected to reflect the richness and diversity of the subject.

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• The Role of Budgeting in Financial Planning
• Strategic Financial Management in SMEs
• The Impact of Working Capital Management on Profitability
• Ethical Considerations in Financial Planning
• Risk Management in Financial Planning
• Cost Control Techniques in Manufacturing
• Financial Decision-making Processes in Non-profit Organizations
• The Impact of Inflation on Financial Planning
• International Financial Planning Strategies
• The Relationship between Corporate Governance and Financial Planning

Investment Analysis and Portfolio Management

• The Efficient Market Hypothesis: A Critical Analysis
• The Role of Behavioral Finance in Investment Decisions
• Modern Portfolio Theory and Its Limitations
• Risk and Return Analysis in Emerging Markets
• Socially Responsible Investment Strategies
• The Impact of Political Instability on Investment Decisions
• Real Estate Investment Trusts (REITs): An In-depth Study
• Impact of Technology on Portfolio Management
• Mutual Funds vs. ETFs: A Comparative Study
• The Role of Artificial Intelligence in Investment Management

Corporate Finance

• Capital Structure Decisions in Startups
• The Role of Dividends in Corporate Financial Management
• Mergers and Acquisitions: Strategic Financial Analysis
• Corporate Financing in Developing Economies
• An Analysis of Venture Capital Financing
• The Impact of Corporate Social Responsibility on Financial Performance
• The Role of Financial Management in Business Turnaround Strategies
• Debt Financing vs. Equity Financing: A Comparative Analysis
• Corporate Financial Risk Management Strategies
• Financing Innovation: Challenges and Opportunities

International Financial Management

• Exchange Rate Dynamics and International Financial Decisions
• The Role of International Financial Institutions in Economic Development
• Cross-border Mergers and Acquisitions
• Globalization and Its Impact on Financial Management
• International Tax Planning Strategies
• Challenges in Managing International Financial Risk
• Currency Risk Management in Multinational Corporations
• International Capital Budgeting Decisions
• The Impact of Cultural Differences on International Financial Management
• Foreign Direct Investment Strategies and Financial Management

Financial Markets and Institutions

• The Role of Central Banks in Financial Stability
• The Evolution of Microfinance Institutions
• The Impact of Regulation on Banking Operations
• An Analysis of Stock Market Efficiency
• Financial Derivatives and Risk Management
• The Role of Technology in Financial Services
• A Study of Financial Crises and Regulatory Responses
• Peer-to-Peer Lending Platforms: A New Paradigm
• The Role of Credit Rating Agencies in Financial Markets
• The Future of Cryptocurrency in the Financial Landscape

Personal Finance Management

• Financial Literacy and Personal Investment Decisions
• The Role of Technology in Personal Finance Management
• Retirement Planning Strategies
• Impact of Consumer Behavior on Personal Financial Decisions
• Personal Finance Management in the Gig Economy
• A Study of Personal Bankruptcy Trends
• Credit Card Management Strategies for Individuals
• The Effect of Education on Personal Financial Management
• The Role of Financial Counseling in Personal Finance
• Estate Planning: A Comprehensive Analysis

Risk Management

• Enterprise Risk Management: A Strategic Approach
• The Role of Insurance in Financial Risk Management
• Financial Innovations in Risk Management
• A Study of Credit Risk Management in Banks
• Risk Management Strategies in Supply Chain Finance
• Cyber Risk Management in Financial Institutions
• The Impact of Climate Change on Financial Risks
• A Study of Operational Risk Management in the Healthcare Sector
• Behavioral Aspects of Risk Management
• Crisis Management and Financial Stability

Financial Technology (FinTech)

• The Rise of Blockchain Technology in Finance
• The Impact of FinTech on Traditional Banking
• Regulatory Challenges in the Age of FinTech
• Financial Inclusion through FinTech Innovation
• Artificial Intelligence in Financial Services
• The Future of Cryptocurrencies: Opportunities and Risks
• A Study of Peer-to-Peer Lending Platforms
• FinTech and Consumer Privacy: Ethical Considerations
• Mobile Banking: An Evolutionary Study
• The Role of Big Data Analytics in Financial Decision Making

Ethics and Sustainability in Finance

• Ethical Investing: Trends and Challenges
• Corporate Social Responsibility Reporting in Finance
• Sustainable Finance in Emerging Economies
• Environmental, Social, and Governance (ESG) Criteria in Investment
• The Impact of Business Ethics on Financial Performance
• The Role of Sustainability in Corporate Financial Strategy
• Green Bonds and Financing Sustainable Development
• Social Impact Investing: Opportunities and Challenges
• A Study of Gender Equality in Financial Institutions
• Financial Strategies for Achieving Sustainable Development Goals

Accounting and Finance

• Forensic Accounting: Techniques and Case Studies
• The Role of Management Accounting in Financial Decision-making
• International Financial Reporting Standards (IFRS) Adoption
• The Impact of Taxation on Financial Management
• Accounting Information Systems: An In-depth Analysis
• The Role of Auditing in Corporate Governance
• Accounting Ethics: A Study of Professional Conduct
• Environmental Accounting and Sustainable Development
• The Effect of Automation on Accounting Practices
• A Comparative Study of GAAP and IFRS

The extensive list above offers a broad spectrum of financial management research paper topics. They cater to different academic levels and areas of interest, providing a wealth of opportunities for students to explore the multi-dimensional world of financial management. The selection of these topics can lead to exciting discoveries and insights, pushing the boundaries of existing knowledge in the field. Whether it’s understanding the intricate dynamics of global finance or delving into the ethical considerations in investment decisions, these topics serve as starting points for thought-provoking research that can shape future practices in financial management. By choosing a topic from this comprehensive list, students embark on a journey of intellectual exploration that can contribute to both academic success and the broader understanding of financial management in the modern world.

Financial Management and the Range of Research Paper Topics

Financial management is a multifaceted discipline that stands at the intersection of economics, business administration, and finance. It governs the planning, organizing, directing, and controlling of financial activities within an organization or individual framework. In an ever-changing global economy, the importance of financial management cannot be overstated. It empowers organizations and individuals to make informed decisions, manage risks, and achieve financial stability and growth. This article delves into the vast domain of financial management and explores the wide array of research paper topics it offers.

A. Definition and Core Concepts of Financial Management

Financial management refers to the efficient and effective management of money to achieve specific objectives. It involves processes and tasks such as budgeting, forecasting, investment analysis, risk management, and financial reporting. The primary goals are to maximize shareholder value, ensure liquidity, and maintain solvency.

• Budgeting and Forecasting : These processes involve planning and estimating future financial needs and outcomes. They guide decision-making and help in aligning resources with organizational goals.
• Investment Analysis : This includes evaluating investment opportunities and determining the most profitable and sustainable investments.
• Risk Management : This aspect focuses on identifying, evaluating, and mitigating financial risks, including market risk, credit risk, and operational risk.
• Financial Reporting : This entails the preparation and presentation of financial statements that accurately reflect the financial position of an organization.

B. Importance of Financial Management

• Ensuring Financial Stability : Effective financial management helps in maintaining the financial health of an organization or individual by ensuring a balance between income and expenditure.
• Optimizing Resources : It enables the optimal utilization of resources by aligning them with short-term and long-term goals.
• Strategic Planning : Financial management plays a key role in strategic planning by providing insights into financial capabilities and constraints.
• Enhancing Profitability : By making informed investment and operational decisions, financial management enhances the profitability of an organization.

C. Modern Trends and Challenges in Financial Management

The evolution of technology, globalization, regulatory changes, and societal expectations have shaped modern financial management. Some noteworthy trends and challenges include:

• Financial Technology (FinTech) : The integration of technology into financial services has revolutionized banking, investing, and risk management.
• Globalization : The interconnectedness of global markets presents both opportunities and challenges in managing international financial operations.
• Sustainability and Ethics : The growing focus on environmental, social, and governance (ESG) criteria has led to ethical investing and sustainable finance.
• Regulatory Compliance : Navigating the complex regulatory landscape is a challenge that requires constant adaptation and vigilance.

D. Range of Research Paper Topics in Financial Management

The vastness of financial management offers a rich source of research paper topics. From exploring the intricacies of investment analysis to understanding the ethical dimensions of finance, the possibilities are endless. The following are some broad categories:

• Corporate Finance : Topics related to capital structure, mergers and acquisitions, dividend policies, and more.
• Investment and Portfolio Management : Including research on investment strategies, portfolio optimization, risk and return analysis, etc.
• International Financial Management : This encompasses studies on exchange rate dynamics, global financial strategies, cross-border investments, etc.
• Risk Management : Topics include various risk management techniques, insurance, financial innovations in risk management, etc.
• Personal Finance Management : This field covers financial planning for individuals, retirement strategies, credit management, etc.
• Financial Technology : Blockchain, cryptocurrencies, mobile banking, and more fall under this innovative domain.
• Ethics and Sustainability in Finance : Research in this area may focus on ethical investing, corporate social responsibility, green financing, etc.

Financial management is an expansive and dynamic field that intertwines various elements of finance, economics, and business administration. Its importance in today’s world is immense, given the complexities of the global financial system. The array of research paper topics that this subject offers is indicative of its diversity and depth.

From traditional concepts like budgeting and investment analysis to modern phenomena like FinTech and sustainability, the world of financial management continues to evolve. It invites scholars, practitioners, and students to explore, question, and contribute to its understanding.

The range of research paper topics in financial management offers avenues for academic inquiry and practical application. Whether it’s investigating the effects of globalization on financial strategies or exploring personal finance management in the gig economy, there’s a topic to spark curiosity and inspire research. These research endeavors not only enrich academic literature but also play a crucial role in shaping the future of financial management. In a rapidly changing world, continuous exploration and learning in this field are essential to remain relevant, innovative, and responsible.

How to Choose Financial Management Research Paper Topics

Choosing the right research paper topic in the field of financial management is a critical step in the research process. The chosen topic can shape the direction, depth, and impact of the research. Given the wide array of subfields within financial management, selecting a suitable topic can be both exciting and challenging. Here’s a comprehensive guide to assist you in choosing the ideal financial management research paper topic.

1. Understand Your Interest and Strengths

• Assess Your Interests : Consider what aspects of financial management intrigue you the most. Your enthusiasm for a subject can greatly enhance the research process.
• Identify Your Strengths : Understanding where your skills and knowledge lie can guide you towards a topic that you can explore competently.
• Connect with Real-world Issues : Relating your interests to current industry challenges or trends can make your research more relevant and engaging.

2. Consider the Scope and Depth

• Define the Scope : A clear understanding of the scope helps in keeping the research focused. Too broad a topic can make the research vague, while too narrow may limit your exploration.
• Determine the Depth : Decide how deep you want to delve into the topic. Some subjects may require extensive quantitative analysis, while others may be more theoretical.

3. Examine Academic and Industry Relevance

• Align with Academic Requirements : Ensure that the topic aligns with your course objectives and academic requirements.
• Analyze Industry Needs : Consider how your research could contribute to the industry or address specific financial management challenges.

4. Evaluate Available Resources and Data

• Assess Data Accessibility : Ensure that you can access the necessary data and information to conduct your research.
• Consider Resource Limitations : Be mindful of the time, financial, and technological resources that you’ll need to complete your research.

5. Review Existing Literature

• Analyze Previous Research : Review related literature to identify gaps, controversies, or emerging trends that you can explore.
• Avoid Duplication : Ensure that your chosen topic is unique and not merely a repetition of existing studies.

6. Consult with Experts and Peers

• Seek Guidance from Faculty : Consulting with faculty or mentors can provide valuable insights and direction.
• Collaborate with Peers : Discussions with classmates or colleagues can help in refining ideas and getting diverse perspectives.

7. Consider Ethical Implications

• Evaluate Ethical Considerations : Ensure that your research complies with ethical guidelines, especially if it involves human subjects or sensitive data.
• Reflect on Social Impact : Consider how your research might influence society, policy, or industry standards.

8. Test the Feasibility

• Conduct a Preliminary Study : A small-scale preliminary study or analysis can help in gauging the feasibility of the research.
• Set Realistic Goals : Ensure that your research objectives are achievable within the constraints of time, resources, and expertise.

9. Align with Career Goals

• Consider Future Applications : Think about how this research might align with your career goals or professional development.
• Build on Past Experience : Leveraging your past experiences or projects can lend depth and continuity to your research.

10. Stay Flexible and Adaptable

• Be Open to Change : Research is often an iterative process; being flexible allows for adaptation as new insights or challenges emerge.
• Maintain a Balanced Perspective : While focusing on your chosen topic, keep an open mind to interrelated areas that might enrich your research.

Choosing the right financial management research paper topic is a nuanced process that requires careful consideration of various factors. From understanding personal interests and academic needs to evaluating resources, ethics, and feasibility, each aspect plays a significant role in shaping the research journey.

By following this comprehensive guide, students can navigate the complexities of selecting a suitable research paper topic in financial management. The ultimate goal is to find a topic that resonates with one’s interests, aligns with academic and professional objectives, and contributes meaningfully to the field of financial management. Whether delving into the dynamics of risk management or exploring the impact of FinTech innovations, the chosen topic should be a catalyst for inquiry, creativity, and growth.

How to Write a Financial Management Research Paper

Writing a research paper on financial management is a rigorous process that demands a thorough understanding of financial concepts, analytical skills, and adherence to academic standards. From selecting the right topic to presenting the final piece, each step must be methodically planned and executed. This section provides a comprehensive guide to help students craft an impactful financial management research paper.

1. Understand the Assignment

• Read the Guidelines : Begin by understanding the specific requirements of the assignment, including formatting, length, deadlines, and the expected structure.
• Clarify Doubts : If any aspect of the assignment is unclear, seek clarification from your instructor or mentor to avoid mistakes.

2. Choose a Strong Topic

• Identify Your Interest : Select a topic that interests you, aligns with your strengths, and meets academic and industry relevance. Refer to the previous section for detailed guidelines on choosing a topic.

3. Conduct Extensive Research

• Explore Varied Sources : Use academic journals, textbooks, online databases, and industry reports to gather diverse perspectives and evidence.
• Evaluate the Credibility : Ensure that the sources are credible, relevant, and up-to-date.
• Organize Your Findings : Maintain well-organized notes, including source citations, to facilitate smooth writing later.

4. Develop a Thesis Statement

• Define Your Focus : Craft a clear and concise thesis statement that outlines the central argument or purpose of your research.
• Align with the Evidence : Ensure that your thesis is well-supported by the evidence you have gathered.

5. Create an Outline

• Structure Your Paper : Plan the structure of your paper, including the introduction, body, and conclusion.
• Organize Ideas : Arrange your ideas, arguments, and evidence logically within the outline.

6. Write a Compelling Introduction

• Introduce the Topic : Provide background information and context to the reader.
• Present the Thesis : Clearly state your thesis to guide the reader through your research.
• Engage the Reader : Use compelling language to create interest in your study.

7. Develop the Body of the Paper

• Present Your Arguments : Use clear and concise paragraphs to present each main idea or argument.
• Support with Evidence : Include relevant data, charts, graphs, or quotations to support your claims.
• Use Subheadings : Subheadings can help in organizing the content and making it more reader-friendly.

8. Include Financial Analysis

• Apply Financial Models : Use relevant financial models, theories, or frameworks that pertain to your topic.
• Perform Quantitative Analysis : Utilize statistical tools, if necessary, to analyze financial data.
• Interpret the Results : Ensure that you not only present the numbers but also interpret what they mean in the context of your research.

9. Write a Thoughtful Conclusion

• Summarize Key Points : Recap the main arguments and findings of your paper.
• Restate the Thesis : Reiterate your thesis in light of the evidence presented.
• Provide Insights : Offer insights, implications, or recommendations based on your research.

10. Revise and Edit

• Review for Clarity : Read through the paper to ensure that the ideas flow logically and the arguments are well-articulated.
• Check for Errors : Look for grammatical, spelling, and formatting errors.
• Seek Feedback : Consider getting feedback from peers, tutors, or mentors to enhance the quality of your paper.

11. Follow Formatting Guidelines

• Adhere to Citation Style : Follow the required citation style (APA, MLA, etc.) consistently throughout the paper.
• Include a Bibliography : List all the references used in the research in a properly formatted bibliography.
• Add Appendices if Needed : Include any supplementary material like data sets or additional calculations in the appendices.

Writing a financial management research paper is a complex task that demands meticulous planning, diligent research, critical analysis, and clear communication. By adhering to these detailed guidelines, students can craft a research paper that not only meets academic standards but also contributes to the understanding of intricate financial management concepts.

Whether exploring investment strategies, corporate finance, or financial risk management, a well-crafted research paper showcases one’s analytical capabilities, comprehension of financial principles, and the ability to apply theoretical knowledge to real-world scenarios. It is an invaluable exercise in intellectual exploration and professional development within the realm of financial management.

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• Expert Degree-Holding Writers : Our team comprises handpicked writers, each holding degrees in finance or related fields. They come with a wealth of experience in academic writing, industry exposure, and a deep understanding of financial management concepts. They have the expertise to delve into complex topics and transform them into comprehensive, high-quality research papers.
• Custom Written Works : At iResearchNet, we believe every assignment is unique. We offer bespoke services, writing each paper from scratch, ensuring it matches your specific requirements and academic level. Our writers create well-structured, argumentative, and analytically sound papers that reflect original thinking.
• In-Depth Research : We recognize the importance of thorough research in crafting a superior financial management paper. Our writers dive deep into a variety of resources, extracting relevant information, data, and insights to ensure that your paper is rich in content, evidential support, and critical analysis.
• Custom Formatting : We adhere to the formatting style of your choice – APA, MLA, Chicago/Turabian, or Harvard. Our writers are adept at applying these styles to your paper, ensuring that every citation, reference, and the general layout complies with the required academic standards.
• Top Quality : Our commitment to quality is uncompromising. Each paper goes through a rigorous quality check, ensuring clarity of thought, precision of language, validity of arguments, and the overall coherence of the paper.
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Research Topics & Ideas: Finance

120+ Finance Research Topic Ideas To Fast-Track Your Project

If you’re just starting out exploring potential research topics for your finance-related dissertation, thesis or research project, you’ve come to the right place. In this post, we’ll help kickstart your research topic ideation process by providing a hearty list of finance-centric research topics and ideas.

PS – This is just the start…

We know it’s exciting to run through a list of research topics, but please keep in mind that this list is just a starting point . To develop a suitable education-related research topic, you’ll need to identify a clear and convincing research gap , and a viable plan of action to fill that gap.

If this sounds foreign to you, check out our free research topic webinar that explores how to find and refine a high-quality research topic, from scratch. Alternatively, if you’d like hands-on help, consider our 1-on-1 coaching service .

Overview: Finance Research Topics

• Corporate finance topics
• Investment banking topics
• Private equity & VC
• Asset management
• Hedge funds
• Financial planning & advisory
• Quantitative finance
• Treasury management
• Financial technology (FinTech)
• Commercial banking
• International finance

Corporate Finance

These research topic ideas explore a breadth of issues ranging from the examination of capital structure to the exploration of financial strategies in mergers and acquisitions.

• Evaluating the impact of capital structure on firm performance across different industries
• Assessing the effectiveness of financial management practices in emerging markets
• A comparative analysis of the cost of capital and financial structure in multinational corporations across different regulatory environments
• Examining how integrating sustainability and CSR initiatives affect a corporation’s financial performance and brand reputation
• Analysing how rigorous financial analysis informs strategic decisions and contributes to corporate growth
• Examining the relationship between corporate governance structures and financial performance
• A comparative analysis of financing strategies among mergers and acquisitions
• Evaluating the importance of financial transparency and its impact on investor relations and trust
• Investigating the role of financial flexibility in strategic investment decisions during economic downturns
• Investigating how different dividend policies affect shareholder value and the firm’s financial performance

Investment Banking

The list below presents a series of research topics exploring the multifaceted dimensions of investment banking, with a particular focus on its evolution following the 2008 financial crisis.

• Analysing the evolution and impact of regulatory frameworks in investment banking post-2008 financial crisis
• Investigating the challenges and opportunities associated with cross-border M&As facilitated by investment banks.
• Evaluating the role of investment banks in facilitating mergers and acquisitions in emerging markets
• Analysing the transformation brought about by digital technologies in the delivery of investment banking services and its effects on efficiency and client satisfaction.
• Evaluating the role of investment banks in promoting sustainable finance and the integration of Environmental, Social, and Governance (ESG) criteria in investment decisions.
• Assessing the impact of technology on the efficiency and effectiveness of investment banking services
• Examining the effectiveness of investment banks in pricing and marketing IPOs, and the subsequent performance of these IPOs in the stock market.
• A comparative analysis of different risk management strategies employed by investment banks
• Examining the relationship between investment banking fees and corporate performance
• A comparative analysis of competitive strategies employed by leading investment banks and their impact on market share and profitability

Private Equity & Venture Capital (VC)

These research topic ideas are centred on venture capital and private equity investments, with a focus on their impact on technological startups, emerging technologies, and broader economic ecosystems.

• Investigating the determinants of successful venture capital investments in tech startups
• Analysing the trends and outcomes of venture capital funding in emerging technologies such as artificial intelligence, blockchain, or clean energy
• Assessing the performance and return on investment of different exit strategies employed by venture capital firms
• Assessing the impact of private equity investments on the financial performance of SMEs
• Analysing the role of venture capital in fostering innovation and entrepreneurship
• Evaluating the exit strategies of private equity firms: A comparative analysis
• Exploring the ethical considerations in private equity and venture capital financing
• Investigating how private equity ownership influences operational efficiency and overall business performance
• Evaluating the effectiveness of corporate governance structures in companies backed by private equity investments
• Examining how the regulatory environment in different regions affects the operations, investments and performance of private equity and venture capital firms

Asset Management

This list includes a range of research topic ideas focused on asset management, probing into the effectiveness of various strategies, the integration of technology, and the alignment with ethical principles among other key dimensions.

• Analysing the effectiveness of different asset allocation strategies in diverse economic environments
• Analysing the methodologies and effectiveness of performance attribution in asset management firms
• Assessing the impact of environmental, social, and governance (ESG) criteria on fund performance
• Examining the role of robo-advisors in modern asset management
• Evaluating how advancements in technology are reshaping portfolio management strategies within asset management firms
• Evaluating the performance persistence of mutual funds and hedge funds
• Investigating the long-term performance of portfolios managed with ethical or socially responsible investing principles
• Investigating the behavioural biases in individual and institutional investment decisions
• Examining the asset allocation strategies employed by pension funds and their impact on long-term fund performance
• Assessing the operational efficiency of asset management firms and its correlation with fund performance

Hedge Funds

Here we explore research topics related to hedge fund operations and strategies, including their implications on corporate governance, financial market stability, and regulatory compliance among other critical facets.

• Assessing the impact of hedge fund activism on corporate governance and financial performance
• Analysing the effectiveness and implications of market-neutral strategies employed by hedge funds
• Investigating how different fee structures impact the performance and investor attraction to hedge funds
• Evaluating the contribution of hedge funds to financial market liquidity and the implications for market stability
• Analysing the risk-return profile of hedge fund strategies during financial crises
• Evaluating the influence of regulatory changes on hedge fund operations and performance
• Examining the level of transparency and disclosure practices in the hedge fund industry and its impact on investor trust and regulatory compliance
• Assessing the contribution of hedge funds to systemic risk in financial markets, and the effectiveness of regulatory measures in mitigating such risks
• Examining the role of hedge funds in financial market stability
• Investigating the determinants of hedge fund success: A comparative analysis

Financial Planning and Advisory

This list explores various research topic ideas related to financial planning, focusing on the effects of financial literacy, the adoption of digital tools, taxation policies, and the role of financial advisors.

• Evaluating the impact of financial literacy on individual financial planning effectiveness
• Analysing how different taxation policies influence financial planning strategies among individuals and businesses
• Evaluating the effectiveness and user adoption of digital tools in modern financial planning practices
• Investigating the adequacy of long-term financial planning strategies in ensuring retirement security
• Assessing the role of financial education in shaping financial planning behaviour among different demographic groups
• Examining the impact of psychological biases on financial planning and decision-making, and strategies to mitigate these biases
• Assessing the behavioural factors influencing financial planning decisions
• Examining the role of financial advisors in managing retirement savings
• A comparative analysis of traditional versus robo-advisory in financial planning
• Investigating the ethics of financial advisory practices

The following list delves into research topics within the insurance sector, touching on the technological transformations, regulatory shifts, and evolving consumer behaviours among other pivotal aspects.

• Analysing the impact of technology adoption on insurance pricing and risk management
• Analysing the influence of Insurtech innovations on the competitive dynamics and consumer choices in insurance markets
• Investigating the factors affecting consumer behaviour in insurance product selection and the role of digital channels in influencing decisions
• Assessing the effect of regulatory changes on insurance product offerings
• Examining the determinants of insurance penetration in emerging markets
• Evaluating the operational efficiency of claims management processes in insurance companies and its impact on customer satisfaction
• Examining the evolution and effectiveness of risk assessment models used in insurance underwriting and their impact on pricing and coverage
• Evaluating the role of insurance in financial stability and economic development
• Investigating the impact of climate change on insurance models and products
• Exploring the challenges and opportunities in underwriting cyber insurance in the face of evolving cyber threats and regulations

Quantitative Finance

These topic ideas span the development of asset pricing models, evaluation of machine learning algorithms, and the exploration of ethical implications among other pivotal areas.

• Developing and testing new quantitative models for asset pricing
• Analysing the effectiveness and limitations of machine learning algorithms in predicting financial market movements
• Assessing the effectiveness of various risk management techniques in quantitative finance
• Evaluating the advancements in portfolio optimisation techniques and their impact on risk-adjusted returns
• Evaluating the impact of high-frequency trading on market efficiency and stability
• Investigating the influence of algorithmic trading strategies on market efficiency and liquidity
• Examining the risk parity approach in asset allocation and its effectiveness in different market conditions
• Examining the application of machine learning and artificial intelligence in quantitative financial analysis
• Investigating the ethical implications of quantitative financial innovations
• Assessing the profitability and market impact of statistical arbitrage strategies considering different market microstructures

Treasury Management

The following topic ideas explore treasury management, focusing on modernisation through technological advancements, the impact on firm liquidity, and the intertwined relationship with corporate governance among other crucial areas.

• Analysing the impact of treasury management practices on firm liquidity and profitability
• Analysing the role of automation in enhancing operational efficiency and strategic decision-making in treasury management
• Evaluating the effectiveness of various cash management strategies in multinational corporations
• Investigating the potential of blockchain technology in streamlining treasury operations and enhancing transparency
• Examining the role of treasury management in mitigating financial risks
• Evaluating the accuracy and effectiveness of various cash flow forecasting techniques employed in treasury management
• Assessing the impact of technological advancements on treasury management operations
• Examining the effectiveness of different foreign exchange risk management strategies employed by treasury managers in multinational corporations
• Assessing the impact of regulatory compliance requirements on the operational and strategic aspects of treasury management
• Investigating the relationship between treasury management and corporate governance

Financial Technology (FinTech)

The following research topic ideas explore the transformative potential of blockchain, the rise of open banking, and the burgeoning landscape of peer-to-peer lending among other focal areas.

• Evaluating the impact of blockchain technology on financial services
• Investigating the implications of open banking on consumer data privacy and financial services competition
• Assessing the role of FinTech in financial inclusion in emerging markets
• Analysing the role of peer-to-peer lending platforms in promoting financial inclusion and their impact on traditional banking systems
• Examining the cybersecurity challenges faced by FinTech firms and the regulatory measures to ensure data protection and financial stability
• Examining the regulatory challenges and opportunities in the FinTech ecosystem
• Assessing the impact of artificial intelligence on the delivery of financial services, customer experience, and operational efficiency within FinTech firms
• Analysing the adoption and impact of cryptocurrencies on traditional financial systems
• Investigating the determinants of success for FinTech startups

Commercial Banking

These topic ideas span commercial banking, encompassing digital transformation, support for small and medium-sized enterprises (SMEs), and the evolving regulatory and competitive landscape among other key themes.

• Assessing the impact of digital transformation on commercial banking services and competitiveness
• Analysing the impact of digital transformation on customer experience and operational efficiency in commercial banking
• Evaluating the role of commercial banks in supporting small and medium-sized enterprises (SMEs)
• Investigating the effectiveness of credit risk management practices and their impact on bank profitability and financial stability
• Examining the relationship between commercial banking practices and financial stability
• Evaluating the implications of open banking frameworks on the competitive landscape and service innovation in commercial banking
• Assessing how regulatory changes affect lending practices and risk appetite of commercial banks
• Examining how commercial banks are adapting their strategies in response to competition from FinTech firms and changing consumer preferences
• Analysing the impact of regulatory compliance on commercial banking operations
• Investigating the determinants of customer satisfaction and loyalty in commercial banking

International Finance

The folowing research topic ideas are centred around international finance and global economic dynamics, delving into aspects like exchange rate fluctuations, international financial regulations, and the role of international financial institutions among other pivotal areas.

• Analysing the determinants of exchange rate fluctuations and their impact on international trade
• Analysing the influence of global trade agreements on international financial flows and foreign direct investments
• Evaluating the effectiveness of international portfolio diversification strategies in mitigating risks and enhancing returns
• Evaluating the role of international financial institutions in global financial stability
• Investigating the role and implications of offshore financial centres on international financial stability and regulatory harmonisation
• Examining the impact of global financial crises on emerging market economies
• Examining the challenges and regulatory frameworks associated with cross-border banking operations
• Assessing the effectiveness of international financial regulations
• Investigating the challenges and opportunities of cross-border mergers and acquisitions

Choosing A Research Topic

These finance-related research topic ideas are starting points to guide your thinking. They are intentionally very broad and open-ended. By engaging with the currently literature in your field of interest, you’ll be able to narrow down your focus to a specific research gap .

When choosing a topic , you’ll need to take into account its originality, relevance, feasibility, and the resources you have at your disposal. Make sure to align your interest and expertise in the subject with your university program’s specific requirements. Always consult your academic advisor to ensure that your chosen topic not only meets the academic criteria but also provides a valuable contribution to the field. 

If you need a helping hand, feel free to check out our private coaching service here.

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Public financial management (PFM) is a central element of a functioning administration, underlying all government activities. It encompasses the mechanisms through which public resources are collected, allocated, spent and accounted for. As such, PFM processes comprise the whole budget cycle, public procurement, audit practices and revenue collection. Sound, transparent and accountable public financial management is a key pillar of governance reform and of vital importance to provide public services of good quality to citizens, as well as to create and maintain fair and sustainable economic and social conditions in a country.

PFM involves highly complex, technical tasks and processes, including macroeconomic forecasting, budget allocation, accounting and auditing. The complexity of such processes limits public scrutiny and provides many opportunities for corruption. The risk of corruption varies between and within the different stages of the budget process. Although corruption primarily manifests itself in forms that involve illegal money transfers at the budget execution level, other steps of the budget process may create opportunities for corruption at other stages of the PFM process, such as budget formulation, budget approval, accounting and reporting or audit stages.

PFM reforms have typically focused on achieving and securing overall economic and fiscal stability, allocative efficiency and operational efficiency. To this end, PFM reforms mostly prioritise technical approaches to improve the performance of the PFM systems, including through the integration, modernisation and automation of PFM processes, revenue collection, public expenditure management and procurement systems. While these reforms are not primarily aimed at curbing corruption, there is a broad consensus that they can help prevent and detect misuse of public resources through streamlined processes, increased transparency and stronger oversight.

Recent trends in PFM reforms call for moving beyond technical reforms and paying more attention to transparency, accountability and public participation in PFM. Global initiatives, such as the Open Government Partnership, the Global Initiative for Fiscal Transparency (GIFT) and the International Budget Partnership are working for this purpose.

For further information, see our Topic Guide on Public Financial Management .

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Research: Boards Still Have an ESG Expertise Gap — But They’re Improving

• Tensie Whelan

Over the last five years, the percentage of Fortune 100 board members possessing relevant credentials rose from 29% to 43%.

The role of U.S. public boards in managing environmental, social, and governance (ESG) issues has significantly evolved over the past five years. Initially, boards were largely unprepared to handle materially financial ESG topics, lacking the necessary background and credentials. However, recent developments show a positive shift, with the percentage of Fortune 100 board members possessing relevant ESG credentials rising from 29% to 43%. This increase is primarily in environmental and governance credentials, while social credentials have seen less growth. Despite this progress, major gaps remain, particularly in climate change and worker welfare expertise. Notably, the creation of dedicated ESG/sustainability committees has surged, promoting better oversight of sustainability issues. This shift is crucial as companies increasingly face both regulatory pressures and strategic opportunities in transitioning to a low carbon economy.

Knowing the right questions to ask management on material environmental, social, and governance issues has become an important part of a board’s role. Five years ago, our research at NYU Stern Center for Sustainable Business found U.S. public boards were not fit for this purpose — very few had the background and credentials necessary to provide oversight of  ESG topics such as climate, employee welfare, financial hygiene, and cybersecurity. Today, we find that while boards are still woefully underprepared in certain areas, there has been some important progress .

• TW Tensie Whelan is a clinical professor of business and society and the director of the NYU Stern Center for Sustainable Business, and she sits on the advisory boards of Arabesque and Inherent Group.

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Anti-corporate sentiment in U.S. is now widespread in both parties

The U.S. public’s views of banks and other financial institutions, as well as large corporations, have become much more negative in recent years. Today, these institutions are both held in low esteem by Americans in both parties.

About four-in-ten Republicans and Republican-leaning independents (38%) and Democrats and Democratic leaners (41%) now say banks and other financial institutions have a positive effect on the way things are going in the country. Even smaller shares – 26% of Republicans and 25% of Democrats – say large corporations have a positive effect, according to a survey conducted Oct. 10-16 by Pew Research Center.

Pew Research Center conducted this study to understand the U.S. public’s impressions of several institutions in the country. For this analysis, we surveyed 5,098 adults from Oct. 10 to 16, 2022. Everyone who took part in this survey is a member of the Center’s American Trends Panel (ATP), an online survey panel that is recruited through national, random sampling of residential addresses. This way nearly all U.S. adults have a chance of selection. The survey is weighted to be representative of the U.S. adult population by gender, race, ethnicity, partisan affiliation, education and other categories. Read more about the ATP’s methodology .

Here are the questions used for this report, along with responses, and its methodology .

While Democrats’ views of banks and big corporations have only modestly changed since 2019 (41% vs. 37%), Republicans’ assessments have become much more negative. Three years ago, Republicans were far more likely than Democrats to say banks and other financial institutions (63% vs. 37%) and large corporations (54% vs. 23%) had a positive effect on the way things were going in the country.

Republicans have also become much more negative in their opinions of technology companies. In 2019, identical shares of Democrats and Republicans (58% each) said technology companies had a positive effect on the country. While Democrats’ views are unchanged, the share of Republicans with a positive view had fallen 20 percentage points by 2021 and has changed little since then (currently 40%).

Overall, Americans view small businesses much more positively than the eight other institutions included in the survey. Eight-in-ten adults say small businesses have a positive effect on the way things are going in the country, and just 18% say they have a negative effect.

Majorities of Americans also say the military (62%), K-12 public schools (55%), labor unions (54%), churches (53%), and colleges and universities (53%) have a positive effect on the way things are going in the country.

The public is divided in its evaluations of technology companies (49% positive, 47% negative).

Majorities of Americans express negative views of banks and other financial institutions, as well as large corporations. While 56% say banks and other financial institutions have a negative effect on the way things are going in the country, even more (71%) say the same about large corporations.

Comparably large majorities of both Democrats and Republicans say small businesses have a positive impact on the country these days (83% vs. 79%). And majorities in both parties view the military positively (64% of Democrats, 63% of Republicans).

However, the two parties differ widely over the effect that colleges and universities, labor unions, K-12 public schools, churches and technology companies have on the way things are going in the country.

Democrats are roughly twice as likely as Republicans to say colleges, unions and public schools have a positive impact. Conversely, Republicans are more likely than Democrats (68% vs. 41%) to say churches and religious organizations have a positive effect on the country.

Ideological differences in views of several major institutions

Americans across the ideological spectrum overwhelmingly say that small businesses have a positive effect on the country – and for the most part think that large corporations have a negative effect.

In the case of banks and financial institutions, 65% of liberal Democrats and 60% of conservative Republicans say they have a negative impact. By comparison, 49% of conservative and moderate Democrats and 56% of moderate and liberal Republicans say the same.

However, there are wide partisan and ideological differences in opinions of how labor unions and technology companies affect the country. An overwhelming majority of liberal Democrats (83%) express positive views of labor unions, as do about two-thirds of conservative and moderate Democrats (66%). Among Republicans, 47% of moderates and liberals and 29% of conservatives view unions positively. Conservative Republicans also are far more critical than other ideological groups, including moderate and liberal Republicans, of the impact of technology companies.

For several years, Republicans – especially conservative Republicans – have expressed more negative than positive views of colleges and universities . This remains the case today, with about three-quarters (76%) of conservative Republicans saying colleges affect the country negatively.

Moderates and liberals in the GOP are split in their views on colleges and universities (48% positive, 51% negative), and large majorities of both liberal and moderate or conservative Democrats say these institutions have a positive impact on the country.

Opinions of K-12 public schools follow a similar pattern: 29% of conservative Republicans say they have a positive impact, by far the lowest share among ideological groups.

See also: Republicans’ confidence in K-12 principals has fallen sharply during the pandemic

Among Democrats, there are wide ideological differences on views of both religious organizations and the military. While a majority of conservative and moderate Democrats (56%) say churches and religious organizations have a positive effect on the country, about three-quarters of liberal Democrats (74%) say religious institutions have a negative effect on the country. Among Republicans, majorities of both conservatives (73%) and moderates and liberals (60%) say churches and religious organizations have a positive effect on the way things are going in the country.

Roughly three-quarters of conservative and moderate Democrats (74%) say the military is having a positive effect on the way things are going in this country, a greater share than among other ideological groups. Two-thirds of moderate and liberal Republicans view the military positively, as do 61% of conservative Republicans. Liberal Democrats are less likely than other groups to view the military positively, with about half (52%) saying it has a positive effect on the country and 45% viewing it negatively.

Opinions on these institutions – especially the military and churches – also vary across age groups.

Adults ages 18 to 29 stand out for their skepticism toward the military, with 49% saying it has a positive effect on the way things are going in the country, the lowest share in any age group. Adults under age 30 are also less likely than those 30 and older to say churches and religious organizations have a positive impact.

Adults under the age of 50 are more likely than those ages 50 t0 64 (52%) and those 65 and older (43%) to say K-12 public schools have a positive effect on the country. There is a similar pattern on views of colleges and universities.

Note: Here are the questions used for this report, along with responses, and its methodology .

• Business & Workplace
• Partisanship & Issues
• Political Issues
• Politics & Policy
• Tech Companies

A look at small businesses in the U.S.

Majorities of adults see decline of union membership as bad for the u.s. and working people, a look at black-owned businesses in the u.s., from businesses and banks to colleges and churches: americans’ views of u.s. institutions, 2023 saw some of the biggest, hardest-fought labor disputes in recent decades, most popular.

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Four Present at ASPA Annual Meeting

Written by Staff

April 22, 2024

Four students from the Doctorate in Management and Public Service Program (DMPS) presented their dissertation research at the American Society for Public Administration Annual Meeting in Minneapolis April 14th.

The panel "Building Equitable and Resilient Public Service" was moderated by DMPS faculty and program director, Prof. Kristen Norman. The students presenting and their topics were:

• Sadiq Abdirahman, PhD.  The quest for political incorporation of Hmong and Somali American candidates
• Nic Abney, ABD,  Zoning affordable housing out of Minnesota
• Roxy Traxler, PhD,  Resource management competencies for community college leaders
• Jennifer Yang, PhD,  Achieving educational equity in Minnesota's K-12 public school districts

All four of these students, along with several others in the DMPS program will graduate this May.

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