Over the past twenty years, colleges have invested an increasing share of their endowment assets in “alternative investments.” Prior to 2009, an alternatives emphasis had been widely credited for the sterling endowment investment returns earned by many colleges. However, with college...

This study aims to test and analyze the effect of capital structure, profitability, investment opportunity set, firm value, earnings per share, and dividend policy, on stock returns. Our research uses regression analysis to determine and analyze the influence of independent variables on...

A large literature has focused on estimating the returns to schooling and has typically done so by incorporating institutional heterogeneity in quality along merely one dimension (such as average SAT scores). Using longitudinal survey data of registrants for the GMAT exam and school level...

Early research on the returns to higher education treated the postsecondary system as a monolith. In reality, postsecondary education in the United States and around the world is highly differentiated, with a variety of options that differ by credential (associates degree, bachelor's degree,...

Postgraduates’ relative earnings have been increasing despite large increases in their numbers. In this paper, we propose an innovative way to disentangle wage premiums within jobs shared by postgraduates and undergraduates from those associated with the assignment to different and more (less)...

In this paper, we have sought to understand what has been the performance of university endowments, and what drives the observed pattern of performance. Our key observations are as follows: (a) the endowments of elite universities have grown dramatically faster than endowments overall; (b)...

Considering the investment in education as uncertain financial decision making we modify the short-cut method of calculating rates of return to education by incorporating the risk premium. Recognizing that market risk isn't the only factor affecting returns, we estimate the returns to education...