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ERIC Number: EJ1147237
Record Type: Journal
Publication Date: 2017
Pages: 18
Abstractor: As Provided
ISSN: ISSN-0307-5079
Financial Regulations and the Diversification of Funding Sources in Higher Education Institutions: Selected European Experiences
Stachowiak-Kudla, Monika; Kudla, Janusz
Studies in Higher Education, v42 n9 p1718-1735 2017
The paper addresses the problem of the financial regulations' impact on the share of private financing in higher education institutions (HEIs). The authors postulate the trade-off between the size and stability of public financing and the regulations fostering stability of HEIs' funds. If the public sources are insufficient then the regulations increasing the stability of financing are expected. Such a policy increases the private-source financing at the expense of public-source financing, and it can be tested econometrically. The predictions are tightly related to the portfolio theory of Markowitz, where risk-averse management of HEIs minimizes the variance of available funds. The econometric analysis covers the impact of selected financial regulations on the private financing of tertiary-level education. The components of financial regulations are distinguished on the basis of the legal comparative study. The authors identify four financial regulations whose prevalence affects the diversification of European universities' financing and can improve their financial stability.
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Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: Europe
Grant or Contract Numbers: N/A