How university endowments respond to financial market shocks : evidence and implications

• المؤلفون الرئيسيون: Brown, Jeffrey R., Dimmock, Stephen G., Kang, Jun-Koo, Weisbenner, Scott J.
• مؤلفون آخرون: Nanyang Business School
• التنسيق: مقال
• اللغة: English
• منشور في: 2014
• الموضوعات: DRNTU::Business::Finance::Fixed income::Bonds
• الوصول للمادة أونلاين: https://hdl.handle.net/10356/105787; http://hdl.handle.net/10220/20933
• المؤسسة: Nanyang Technological University

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 relativ...