Borrowing for College: A Comparison of Long-Term Debt Financing between Public and Private, Nonprofit Institutions of Higher Education

被引：7
|
作者：
Denison, Dwight [1 ]
Fowles, Jacob [2 ]
Moody, Michael [3 ]
机构：
[1] Univ Kentucky, Martin Sch Publ Policy & Adm, Publ & Nonprofit Finance, Grad Studies, 415 Patterson Off Tower, Lexington, KY 40506 USA
[2] Univ Kansas, Sch Publ Affairs & Adm, Lawrence, KS 66045 USA
[3] US Dept State, Dulles, VA 20189 USA
来源：
PUBLIC BUDGETING AND FINANCE | 2014年 / 34卷 / 02期
关键词：
D O I：
10.1111/pbaf.12034
中图分类号：
C93 [管理学]; D035 [国家行政管理]; D523 [行政管理]; D63 [国家行政管理];
学科分类号：
12 ; 1201 ; 1202 ; 120202 ; 1204 ; 120401 ;
摘要：
Institutions of higher education provide an excellent opportunity to compare long-term debt financing in the nonprofit and public sectors. The proposed models explain the long-term debt per student at public and private-nonprofit research universities. Student enrollment, enrollment growth, total assets, and revenue variables as a group all influence debt levels. The strongest predictors of debt balances are the fixed characteristics of the universities themselves. Empirical evidence from the university sector also suggests the absence of a powerful arbitrage incentive to issue debt.
引用
收藏
页码：84 / 104
页数：21
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