This study examined the relative importance of teaching and research at 33 public and 14 private research universities. In particular the study sought to understand the perceptions held by the study participants of the relative importance of teaching and research and to compare and contrast the perceptions of different groups within the university community. A total of 46,193 surveys were distributed and 23,302 were returned from faculty at all levels as well as deans and administrators. The results indicate that people in the university community tend to favor a balance between research and undergraduate teaching. In contrast, respondents reported that the "university" places greater emphasis on research than on teaching. Differences in the way respondents perceived the direction the university is taking and the direction it should take suggested a conflict between the culture of the university and the values of individuals. Open-ended comments about the tension between teaching and research primarily focused on the reward system, which heavily favors research, distribution of resources, and the campus culture. Included are extensive tables and figures displaying the results and 19 references. (JB)