Elsevier Shuts Down Its Finance Journal Citation Cartel
Hacker News
February 23, 2026
AI-Generated Deep Dive Summary
Elsevier, the world’s largest academic publisher, has taken significant action against a controversial “citation cartel” involving Brian M. Lucey, a professor at Trinity College Dublin. The company retracted 12 peer-reviewed papers across three of its journals due to ethical violations. These papers, which included topics like cryptocurrency markets, oil price shocks, and ESG disclosures, had collectively accumulated over 5,000 citations. The key issue was that Lucey, a co-author on all the retracted papers, also served as an editor for these journals. This dual role allowed him to bypass the peer-review process entirely, creating a system where his own work was approved without proper oversight.
The situation came to light after years of criticism in academic circles, with comments on platforms like EJMR (Econ Job Market Rumors) raising concerns about Lucey’s unethical practices as early as five years ago. In response, Elsevier removed Lucey from editorial positions at five journals, including *Finance Research Letters* and *International Review of Financial Analysis*. However, he remains an editor-in-chief at Wiley’s *Journal of Economic Surveys*, despite a lack of evidence of wrongdoing in his role there.
The case highlights broader issues within the academic publishing industry, where conflicts of interest and lapses in editorial integrity can undermine the credibility of research. For tech enthusiasts and those interested in startups, this story underscores the importance of transparency and accountability in scholarly publishing. The incident also raises questions about how journals assess conflict-of-interest policies and enforce them, particularly in fields like finance and economics, which often influence tech-related investment strategies and market trends.
While Elsevier’s actions demonstrate a commitment to addressing these issues, critics argue that more systemic changes are needed to prevent similar abuses of editorial power. The retraction of 12 papers, each potentially cited multiple times, also highlights the far-reaching impact of such unethical practices on the broader academic community and those who rely on scholarly research for decision-making in tech and beyond.
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Originally published on Hacker News on 2/23/2026