Peer review in finance is a critical process for maintaining the integrity and validity of research, contributing to the advancement of financial knowledge and informing policy decisions. It involves the evaluation of research papers and articles by experts (peers) in the same field before publication in academic journals or presentation at conferences. The goal is to ensure the quality, originality, significance, and rigor of the submitted work. The peer review process typically unfolds in several stages. First, an author submits a manuscript to a journal. The editor, often a leading scholar in the relevant area of finance, performs an initial assessment to determine if the submission falls within the scope of the journal and meets basic quality standards. If it passes this initial screening, the editor selects two or more qualified reviewers who are specialists in the research topic. These reviewers are ideally objective and unbiased regarding the author and their affiliations. The reviewers independently evaluate the manuscript based on several criteria, including the originality of the research question, the appropriateness of the methodology, the soundness of the theoretical framework, the clarity of the presentation, and the relevance of the findings to the existing body of knowledge. Reviewers provide detailed feedback, including suggestions for improvement, identifying weaknesses in the analysis, and offering constructive criticism. After receiving the reviewers’ reports, the editor synthesizes the feedback and makes a decision regarding the manuscript. Possible outcomes include: acceptance without revisions, acceptance with minor revisions, acceptance with major revisions, rejection with the possibility of resubmission, or outright rejection. If revisions are required, the author(s) must address the reviewers’ comments and resubmit the revised manuscript, along with a detailed response outlining the changes made. The editor then reviews the revised manuscript and may send it back to the original reviewers for further evaluation, particularly if major revisions were required. This iterative process continues until the editor is satisfied that the manuscript meets the journal’s standards for publication. Peer review plays a crucial role in several ways. It acts as a filter, preventing flawed or unsubstantiated research from entering the academic literature. It provides authors with valuable feedback to improve the quality of their work. It promotes rigor and transparency in financial research, leading to more reliable and credible findings. Despite its importance, peer review is not without its limitations. The process can be time-consuming, delaying the dissemination of new knowledge. There can be biases, both conscious and unconscious, among reviewers, leading to unfair evaluations. In addition, ensuring anonymity can be challenging, particularly in niche areas of finance where researchers may be familiar with each other’s work. Furthermore, the peer review system relies on the willingness of academics to volunteer their time and expertise, which can place a significant burden on busy researchers. There are ongoing efforts to improve the peer review process, including experimenting with different models such as open peer review and registered reports, to address some of these challenges and enhance its effectiveness.