Student selectivity and higher education institutions credit ratings
Purpose: This paper aims to investigate the relation between the creditworthiness of US institutions of higher education and their student selectivity (i.e. demand and quality). Design/methodology/approach: The authors study whether the impact of student selectivity differs across public vs private universities; across the credit quality of the given public university’s state; and across the level of state appropriations for the given public university. Findings: The authors find that student quality and demand measures are significantly associated with their corresponding institution’s creditworthiness, especially for private universities. Originality/value: For public universities the association is weak and, contrary to the expectations, does not depend on the state credit quality or level of state funding. The findings are robust to the inclusion of control variables.
Year of publication: |
2020
|
---|---|
Authors: | Gottesman, Aron ; Ismailescu, Iuliana |
Published in: |
Journal of Financial Economic Policy. - Emerald, ISSN 1757-6385, ZDB-ID 2501029-3. - Vol. 13.2020, 1 (24.06.), p. 136-159
|
Publisher: |
Emerald |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
The reaction of emerging market credit default swap spreads to sovereign credit rating changes
Ismailescu, Iuliana, (2010)
-
Managerial Performance and Closed‐End Country Fund Premiums: A Lead or Lag Relationship?
ISMAILESCU, IULIANA, (2010)
-
Dependence between Extreme Events in the Real and Financial Sectors
Chollete, Loran, (2014)
- More ...