These rankings are no different QS, they are opinion based surveys from alumni, recruiters...etc
MBA student don't produce papers and research publications, there are no objective ways to measure and rank MBA. How else could Financially Times ranked IIM ahead of Univeristy of Michigan, Manchester Bschool, University of Virginia and Imperial College? Which international student's going to turn down any of these schools for IIM, LOL.
And Hong Kong UST Bschool ranked above UC Berkeley? This is ludicrous.
Every paid media published these so called "ranking" for revenues, they are only as meaningful as a survey. That's what it is, a survey. LOL.