A quantitative study on the effectiveness of peer review for academic journals

Peer review is a classic method in the field of quality analysis, but the effectiveness of peer reviewing has never been researched using quantity analysis indicators. A new indicator for academic journals, Effectiveness of Peer Review (EPR), is defined for evaluating the effectiveness of peer reviewing. If the assumption is valid, EPR could be a simple indicator of such effectiveness. In a sample experiment, 28 academic journals were tested, and the EPR indicator was able to reflect accurately the academic impact of those journals.