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

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...