| ชื่อเรื่อง | : | How university endowments respond to financial market shocks : evidence and implications |
| นักวิจัย | : | Brown, Jeffrey R. , Dimmock, Stephen G. , Kang, Jun-Koo , Weisbenner, Scott J. |
| คำค้น | : | DRNTU::Business::Finance::Fixed income::Bonds |
| หน่วยงาน | : | Nanyang Technological University, Singapore |
| ผู้ร่วมงาน | : | - |
| ปีพิมพ์ | : | 2557 |
| อ้างอิง | : | Brown, J. R., Dimmock, S. G., Kang, J. K., & Weisbenner, S. J. (2014). How university endowments respond to financial market shocks : evidence and implications. American economic review, 104(3), 931-962. , 0002-8282 , http://hdl.handle.net/10220/20933 , http://dx.doi.org/10.1257/aer.104.3.931 |
| ที่มา | : | - |
| ความเชี่ยวชาญ | : | - |
| ความสัมพันธ์ | : | American economic review |
| ขอบเขตของเนื้อหา | : | - |
| บทคัดย่อ/คำอธิบาย | : | Endowment payouts have become an increasingly important component of universities' revenues in recent decades. We study how universities respond to financial shocks to endowments and thus shed light on a number of existing models of endowment behavior. Endowments actively reduce payouts relative to their stated payout policies following negative, but not positive, shocks. This asymmetric behavior is consistent with "endowment hoarding," especially among endowments whose current value is close to the benchmark value at the start of the university president's tenure. We also document the effect of negative endowment shocks on university operations, such as personnel cuts. |
| บรรณานุกรม | : |
Brown, Jeffrey R. , Dimmock, Stephen G. , Kang, Jun-Koo , Weisbenner, Scott J. . (2557). How university endowments respond to financial market shocks : evidence and implications.
กรุงเทพมหานคร : Nanyang Technological University, Singapore. Brown, Jeffrey R. , Dimmock, Stephen G. , Kang, Jun-Koo , Weisbenner, Scott J. . 2557. "How university endowments respond to financial market shocks : evidence and implications".
กรุงเทพมหานคร : Nanyang Technological University, Singapore. Brown, Jeffrey R. , Dimmock, Stephen G. , Kang, Jun-Koo , Weisbenner, Scott J. . "How university endowments respond to financial market shocks : evidence and implications."
กรุงเทพมหานคร : Nanyang Technological University, Singapore, 2557. Print. Brown, Jeffrey R. , Dimmock, Stephen G. , Kang, Jun-Koo , Weisbenner, Scott J. . How university endowments respond to financial market shocks : evidence and implications. กรุงเทพมหานคร : Nanyang Technological University, Singapore; 2557.
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