G. William "Bill" Schwert is a retired University of Rochester Simon Business School finance professor, and was the managing editor of the Journal of Financial Economics (JFE) from 1996 to 2021, after previously serving as one of several editors.
Schwert graduated from Trinity College in Hartford, Connecticut in 1971 and earned a PhD in financial economics from what is now the University of Chicago Booth School of Business in 1975.[1] Aside from one year as an assistant professor at Chicago, he spent his entire career at Rochester's Simon School before being granted professor emeritus status in 2021. In 1998, he was named Distinguished University Professor of Finance and Statistics. In 2009, he was named a Fellow of the Financial Management Association[2] and in 2019 he was named a Fellow of the American Finance Association.[3]
Publications
As a researcher, Schwert's most influential publications concern the volatility of stock market prices. On Google Scholar, he has over 41,000 citations.[4] His articles include
"Asset Returns and Inflation" (with Eugene F. Fama) Journal of Financial Economics 1977
"Expected Stock Returns and Volatility" (with Kenneth R. French and Robert F. Stambaugh) Journal of Financial Economics 1987
"Why Does Stock market Volatility Change Over Time?" Journal of Finance 1989
Journal of Financial Economics
In his years as managing editor of the JFE, the annual number of journal submissions (including resubmissions) increased from approximately 325 in 1996 to 1,655 in 2021.[5] In comparison, the number of submissions and resubmissions to the Journal of Finance (JF) increased from approximately 1,000 in 1996 to 1,332 in 2020.[6] In spite of the large increase in the number of submissions, the JFE kept the median turnaround time to 28 days in 2020, largely by offering referees (peer reviewers) a financial incentive to complete a review in a timely manner. In comparison, in 2023, the JF had a median turnaround time of 50 days.[7] During this 25 year period, however, the JFE lost ground relative to the JF in the 2-year impact factor.[8]