You only had to wait for it. With the rich resource of citation data available in Scopus, somebody was going use it and calculate Impact Factors. Quantitative journal evaluations was once the single domain of Thomson Scientific (formerly ISI) but nowadays they face more and more competition. Elsevier, with Scopus, has so far hesitated to step into the arena of journal evaluation, but Vladimir Pislyakov (2007) has made a start for the 20 top journals in economics.
He compared the Impact factor from the JCR with the Impact he construed for the same journals with citation data from Scopus. In his methodology he made small mistake by not excluding the non citable items, which is quite easy to do in Scopus. But this will not invalidate his results. What was to be expected, confirming our experience with higher citations in Scopus compared to Web of Science, is that overall more citations per article were found in Scopus. This resulted in slightly higher IF as calculated by Scopus. What is more interesting is that the rankings of the journals based on Scopus data differed from the ranking based on the JCR impact factors. Overall they correlated well, but looking into detail, there was a journal that dropped from rank 5 to 13, another from 11 to 18. So there is merit to investigate this on a larger scale than those 20 journals in economics.
In the end the author makes a big mistake, he states
“Since impact factor is considered to be one of the crucial citation indicators which is widely used in research assessment and science administration, it is important to examine it critically from various points of view and investigate the environment in which it is calculated.”
Those are practices we should stay away from. The IF as such is only of interest for scientists when they select a journal for publication. IF should not be used for research evaluation of grant applications.
Reference:
Pislyakov, V. (2007). Comparing two “thermometers”: Impact factors of 20 leading economic journals according to Journal Citation Reports and Scopus. E-Lis. http://eprints.rclis.org/archive/00011865/

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