Competing financial interests
The policy outlined on this page applies to Nature journals (those with the word "Nature" in their title). NPG publishes many other journals, each of which has separate publication policies described on its website. A current list of these journals, with links to each journal's homepage is available.
Nature journals' competing financial interests policy
In the interests of transparency and to help readers to form their own judgements of potential bias, Nature journals require the authors of most articles to declare any competing financial interests in relation to the work described, by sending the author a form to complete and sign before publication of the article. A sample of the form sent to authors by the journal office is available.
In cases where the authors declare a competing financial interest, a short statement to that effect is published as part of the printed article, with a more detailed version available online. If no such statement is present in the article, the authors have declared to the editors of the journal that they do not have any competing financial interests
Definition
For the purposes of this statement, competing interests are defined as those of a financial nature that, through their potential influence on behaviour or content or from perception of such potential influences, could undermine the objectivity, integrity or perceived value of a publication.
They can include any of the following:
Funding: Research support (including salaries, equipment, supplies, reimbursement for attending symposia, and other expenses) by organizations that may gain or lose financially through this publication.
Employment: Recent (while engaged in the research project), present or anticipated employment by any organization that may gain or lose financially through this publication.
Personal financial interests: Stocks or shares in companies that may gain or lose financially through publication; consultation fees or other forms of remuneration from organizations that may gain or lose financially; patents or patent applications whose value may be affected by publication.
It is difficult to specify a threshold at which a financial interest becomes significant, but note that many US universities require faculty members to disclose interests exceeding $10,000 or 5% equity in a company (see, for example, B. Lo et al. New Engl. J. Med. 343, 1616-1620; 2000). Any such figure is necessarily arbitrary, so we offer as one possible practical alternative guideline: "Any undeclared competing financial interests that could embarrass you were they to become publicly known after your work was published."
We do not consider diversified mutual funds or investment trusts to constitute a competing financial interest.
Application to authors
Unless/until the article is published, authors' declarations will be considered confidential, and will not be disclosed to peer-reviewers.
The published article indicates the authors' response using the following standard wording:
- The authors declare competing financial interests: details accompany the full-text HTML version of the paper at (url of journal website).
The online declaration should include an itemized list of the competing financial interests.
For publications with more than one author, the corresponding author (the person responsible for communication with the journal) should provide a declaration on behalf of all authors.
We recognize that some authors may be bound by confidentiality agreements. In such cases the editors will investigate further and may at their discretion invite the authors to state in the online version, in place of itemized disclosure:"The authors declare that they are bound by confidentiality agreements that prevent them from disclosing their financial interests in this work."
We do not require authors to state the monetary value of their financial interests.
Application to referees
The Nature journals invite peer-reviewers to exclude themselves in cases where there is a significant conflict of interest, financial or otherwise. However, just as financial interests need not invalidate the conclusions of an article, nor do they automatically disqualify an individual from evaluating it. We ask peer-reviewers to inform the editors of any related interests, including financial interests as defined above, that might be perceived as relevant. Editors will consider these statements when weighing reviewers' recommendations.
Application to editors
All Nature journal editorial staff are required to declare to their employer (Nature Publishing Group) any interests — financial or otherwise — that might influence, or be perceived to influence, their editorial practices. Failure to do so is a disciplinary offence.
Application to publishing policy
The Nature journals thrive on their independence. Their strict policy is that editorial independence, decisions and content should not be compromised by commercial or financial interests, or by any specific arrangements with advertising clients or sponsors. Our policy is to disclose such arrangements where there is any risk of a perception of compromise. A list of all sponsors associated with Nature Publishing Group is available.
Reasons for policy
Before the adoption of the policy described above, the policy of the Nature journals was that no declarations of competing interests were required from authors, and that potential referees should disqualify themselves from refereeing if they felt they had such a conflict. The current policy, introduced in 2001, is not based on any assumption that commercial interests of researchers are likely to lead to a lack of research integrity. Rather, it is based on a recognition of potential problems for three principal reasons.
First, there is suggestive evidence in the literature that publication practices in biomedical research have been influenced by the commercial interests of authors. Examples for original research and secondary literature (for example, review articles) are given here. This evidence is consistent with the truism that, although, in principle, science may be objective and its findings independent of other interests, scientists can be imperfect and subjective. There are circumstances where selection of evidence, interpretation of results or emphasis of presentation might be inadvertently or even deliberately biased by a researcher's other interests.
Second, there is a more general concern among researchers and others about the possible undermining of the integrity of scientific research by increasing commercial links and consequent influences. We believe that the best way to maintain readers' trust in the integrity of the research and other material we publish is through a policy of transparency. If financial interests are disclosed, readers will be able to make an informed judgment about their significance or lack of significance. We believe this will be to the benefit of readers and authors alike.
Third, many institutions have introduced policies on competing interests that require authors to include descriptions of financial and other interests in publications. We are happy to support them.
We do not expect to police this policy ourselves: we believe that primary responsibility for ensuring that researchers' conduct is appropriate lies with their employers, rather than with journal editors. However, where we believe trust in the published work has been significantly compromised by an author's actions, we will seek to redress the matter by an appropriate combination of sanctions and communication to readers and employers, which may include imposed corrections. Such corrections are linked to the original publication so that those accessing the work online see the correction.
We welcome comments and suggestions about this policy.
Dr Philip Campbell
Editor, Nature
Editor-in-Chief, Nature publications
Nature journals' editorials providing further details about this policy:
Nature: Declaration of financial interests
Nature Neuroscience: A new policy on financial disclosure
Nature Immunology: Competing financial interests
Nature Neuroscience: Financial disclosure for review authors
Nature Cell Biology: Nothing to declare
Nature Medicine: Dealing with disclosure
Nature Methods: Nothing to declare?
Nature Chemical Biology: Keeping it real
Nature Medicine: The doors of perception (February 2008), on the distinction between actual and perceived competing interests. Comments from readers are welcome at Nautilus.