Adam Smith Business School

RESEARCH EXCELLENCE FRAMEWORK (REF) 2021 RESULTS

Photo of the face of Adam Smith statue over a black background

We are very pleased to have such a positive outcome at REF2021.

 

The School has performed strongly on outputs, with 89.6% assessed as world-leading or internationally excellent. This reflects the growing maturity of the Business School which for REF2021 submitted as a single entity including Economics.

 

On Environment, we received a 100% score for creating a research environment conducive to producing research that is internationally excellent or higher, with 50% considered to be offering the vitality and sustainability for world-leading quality research and outstanding impact. This reflects the strong sense of collegiality, a supportive research culture organised around Research Clusters, and the strong growth of the Adam Smith Business School doctoral programme. 

 

In terms of impact 61.1% of our submission achieved the highest level, assessed as outstanding in its reach and significance, with the remaining 38.9% assessed as very considerable. Following the tradition established by Adam Smith himself, the Business School has commitments to the private, public and third sectors, which enabled the selection of Impact Case Studies from a wider portfolio of socially useful impact that forms part of our mainstream activity. 

 

As REF Champion, Professor David Heald said: “The success of our REF2021 submission shows the Adam Smith Business School coming of age. This could not have been achieved without the dedication and hard work of academic and professional staff over the assessment period from 2014 to 2020. This result will enhance the future attractiveness of the Adam Smith Business School to potential students and staff.” 

 

A strong contributor to the result is the University’s investment in the Business School.  This success will help motivate staff who have experienced two difficult years due to the disruption caused by the pandemic. 

Adam Smith Business School research

Impact and engagement:

Businessman reviewing cash flow statement from investing activities in front of modern desktop computer.

Establishing the Scottish Fiscal Commission

UofG researchers developed an extensive body of research on fiscal policy and its institutions in response to fiscal policy failures, which have had a significant impact on the formation and design of the Scottish Fiscal Commission (SFC) and its associated policy activities.

Healthcare worker holding a jar of coins

Increasing financial recoveries using insights from behavioural economics

Exemptions from payment for dental and ophthalmic treatments cost NHS Scotland approximately £75m per annum. Professor Ghosal and Dr Koutmeridis worked with NHS Scotland to co-design a new intervention for incorrectly claimed exemptions for payment.

Coins lined up with small wooden houses beside it

Improving the Transparency of Public Finances

Non-transparent public finances threaten the sustainability of public services. Professor David Heald’s research and engagement have improved fiscal transparency through reforms to public sector accounting and international harmonisation.

Form 1120 Corporate Tax Return with Calendar, Calculator and Pen

Influencing capital income taxation in the United States

Research by Professor Céline Azémar (UofG) and Professor Glenn Hubbard (Columbia University) challenged the US Congressional Budget Office orthodoxy that most of the burden of corporate tax is borne by those with capital. 

Traditional red mail letter box and red bus in motion in London, the UK. Symbols of the city and England

Informing policy and debate on democratic public ownership

There is increasing evidence of the inability of the private sector to deliver affordable, effective and sustainable public services. Professor Andrew Cumbers’ research has shaped policy and debate in Scotland, at UK-level and internationally. 

Calculator, notepad with numbers and pencil on a desk

Restoring public trust in the accountancy profession

Professor Catriona Paisey’s research seeks to understand what it means to be an accounting professional at a time of increased public scrutiny. Her research has underpinned changes to Institute of Chartered Accountants of Scotland (ICAS) policy and practice via bold new ethics guidance, which supports speaking up and whistleblowing.

Diversity creative startup brainstorming with new project ideas plan.

Supporting entrepreneurship through angel investing

Entrepreneurship is a driver of innovation, wealth and job creation. Professor Colin Mason’s research establishes the conditions under which businesses start and scale-up, and identifies mechanisms to support the emergence of high-growth firms—such as angel investing.

This vacant lot in an inner-city neighborhood has been transformed into a community garden

Supporting the development of a Community Food Hub in Glasgow’s East End

The sustainability of local food systems has global economic and environmental implications. UofG research underpinned the establishment of a Community Food Hub in Dalmarnock, one of the City’s most deprived areas, which supports sustainable local food production and healthy consumption.