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This paper aims to assess the degree of the income diversification of the UK higher education providers as a component of their overall financial resilience. In addition, we investigate a correlation between ranking, income diversification, and income size. The main research question is whether the higher ranking of the universities, in particular, is associated with higher income and higher diversification relative to lower-ranked universities. To measure income diversification using descriptive statistics, we use Hirschman-Herfindahl Index (HHI), Corrected HHI, and Revenue Diversification Index (RDI). We covered a period of ten years, from 2010/11 to 2019/20. The findings reveal that a higher ranking of the universities measured by both ranking systems has been significantly positively correlated with the size of income and income diversification and negatively correlated with income concentration.

This article introduces collective rationality and comparative advantage into understanding household financial decision-making responsibility allocation and its relationship to wealth accumulation. Evidence from the Health and Retirement Study (HRS) shows that conscientiousness, memory, and numeracy are favorable personal attributes for household financial decision-making. Greater relative advantages in these attributes predict a higher probability of assuming financial responsibility. Households that assign the disadvantaged spouse as the financial decision-maker tend to have a lower total net worth and a lower financial net worth. Our results suggest that it is critical for financial planning professionals to engage both spouses in the initial discussion of household finances and to assess the efficiency of the status quo financial decision-making responsibility allocation.

Property tax limits have been found to reduce property tax revenue, with compensatory increases in replacement taxes often not sufficiently making up for funding loss and systematically promoting inequity. Consequently, such practices suggest severe implications for school district fiscal capacity. Our study explored this issue in South Carolina after Act 388's reimbursement implementation, with a special focus on rural school districts. We examined through correlation and regression the degree to which revenue served as a function of fiscal capacity, and fiscal capacity as a function of reimbursement. Our results established a plausible link between the state's property tax exemption law and school revenue availability for rural districts, non-rural districts, and the state as a whole. We conclude that consequential funding disproportionality resulted in a negative impact on rural, low-income districts.

This study used the Survey of Earned Doctorates, World Bank economic data of the doctoral students' home country, and hierarchical linear modeling analysis to examine the effects of financial factors and home-country macroeconomic indicators on international doctoral students' labor market destinations. We found that wealth disparities and economic opportunities in the home country affect international doctoral student outcomes. Higher gross national income per capita was associated with a decreased likelihood of remaining in the United States, while higher unemployment rates in the home country significantly increased the likelihood of remaining in the United States. The study reveals a need to develop career services support for international doctoral students that are tailored to their needs as well as the need to internationalize the curriculum to support those who will eventually return to their home country.

The Spanish educational system is characterized by the coexistence of three different models of production and provision of education: public, subsidized and private. Within the privately-owned centers not under the subsidized system, private schools of a social nature stand out. These schools, whose main source of financing comes from the fees paid by the students' families, must implement financial strategies that guarantee their economic viability and allow them to develop their educational project. In a highly competitive environment, the implementation of sound financial strategies and the development of educational innovation policies are critical to ensure their survival. In this context, this study analyzes a methodological proposal that can contribute to guide this strategic policy based on two fundamental pillars: the financial viability of the center and educational innovation through the application of new technologies and innovative teaching strategies. To this end, the case method has been used as the main methodology, obtaining results that considerably improve student satisfaction and that represent economic improvements of more than €100,000 per year. From these results it has been possible to identify different possible scenarios that can condition the financial viability of the educational center, the dropout rate and the academic performance of the students.

After being sued for inequity and inadequacy in school funding, many states in the US have reformed their education aid formulas but have still faced many criticisms. Using Connecticut as an example, this paper shows how to design a more equitable and adequate aid formula with tools to win broad support from communities and lawmakers. It develops a measure of the gap between education cost and revenue capacity as an indicator for each district's need for state aid. Both education cost and revenue capacity are estimated using school district characteristics that are outside the direct control of local officials at any given point in time. This paper shows that Connecticut school districts have a wide range of cost-capacity gaps, due to disparities in cost factors and property tax base, and therefore have different needs for state aid. While larger-gap districts, on average, received more state aid per pupil than smaller-gap districts, many districts --especially the largest-gap ones-- received less aid than they needed to close their cost-capacity gaps. Further analysis suggests that inadequate school funding could have a negative impact on student test performance. As a potential solution, this paper proposes a gap-based formula to allocate state aid and includes tools to make the formula more attractive to a wide range of school districts. The policy simulations show that the gap-based formulas can align aid with the gaps better than the existing formula does. However, applying tools to increase the formula's attractiveness to small-gap districts would compromise the ability of state aid to eliminate inequity and inadequacy and would often require a larger state aid pool. This paper expands the academic community's knowledge about the US education equity and adequacy by examining Connecticut's school funding for the first time under the regression-based cost-capacity gap approach. This analysis can be relevant and useful for other states facing similar issues, as it provides a practical, step-by-step roadmap how to apply the sufficiently general research method and formula design to an individual state.

We examine how funding for public school facilities varies with school district property wealth and household income. Using data on school facility (i.e., capital) funding in California from fiscal years 1986-87 to 2015-16, we find that funding for school construction and modernization varies widely across districts. Disparities in funding are driven primarily by interdistrict differences in property wealth, with the highest property wealth districts raising considerably more funding for school facilities. Assessed value per pupil in California is also negatively correlated with the share of disadvantaged students and students of color. As a result, school facility funding tends to be substantially lower in districts with the highest concentrations of disadvantaged students and students of color.

Startups are key components of the National Innovation Systems (NISs) and have contributed to sustainable development in many countries. This is because of their ability to create employment opportunities and contribute to the national Gross Domestic Product (GDP). Hence, universities across the world have identified the importance of entrepreneurship training for students to help enhance their capability to develop their own startups. This study seeks to find ways of enhancing the profitability of student startups to galvanize industrial development. The approach adopted was the development of a hybrid model to optimize the development of entrepreneurship skills in university students based on existing theories and literatures. Data of 212 Korean universities were used and the results show that research fund, size of dedicated faculty, size of dedicated staff (academic and non-academic), practical entrepreneurship courses, and non-regular curriculum startup activities are key factors responsible for the profitability of student startups.

This study examined the relationship between family wealth and school dropout among vocational education students (n = 1,231; mean age=17.81). It investigated whether (1) family affluence and adolescents' own perceptions and experiences of their family wealth (i.e., perceived family wealth, financial scarcity) predict dropout, (2) adolescents' civic attitudes (i.e., system justification, institutional trust) explain the association between family wealth and school dropout, and (3) trust in teachers buffers against the risk of dropout among students with lower civic attitudes. Multivariate models revealed that financial scarcity predicted dropout. Financial scarcity showed an indirect only effect on dropout through lower institutional trust, but not through system justification. Trust in teachers was neither associated with dropout, nor a moderator. Controlling for mental health problems did not affect these results. This study helps explain how students' experienced and perceived family wealth can affect their educational attainment, by reducing their trust in social institutions.

This paper offers new evidence on the impacts of school finance reforms (SFRs) precipitated by school finance litigation, exploring the extent to which the impact of SFR differs by district racial composition. Using difference-in-differences and event study models with a series of district and year (or state-by-year) fixed effects, and a sixteen-year panel of over 10,000 school districts, my analyses exploit variation in funding across school districts, and timing of school finance court orders across states, to estimate the effect of SFR on the distribution of district funding by racial composition. Models include relevant control variables available in national data and results are robust to numerous alternative specifications, including estimating impacts on percent changes in resources (in addition to levels), restricting analyses to districts in SFR states, controlling for additional covariates available in only some years and some states, and adding controls for state-specific time trends. In addition, I estimate changes in New York State to assess whether and to what extent results are sensitive to additional controls for revenue-raising capacity and district costs. Results suggest that SFR can work to alleviate racial funding gaps, though impacts are moderate.

The prevalence of in-school savings programs (ISSPs) for children and youth is widespread, but research on their effectiveness is limited. This study investigates the long-term effects of an ISSP conducted in one U.S. elementary school. Survey data were collected on the financial behaviors of high school students, who participated in or did not participate in an ISSP while attending the same elementary school at the same time. The results from a probit analysis of data controlling for demographic variables showed that ISSP participants compared with non-participants were more likely to have a bank account in high school. They also were more likely to have opened a bank account before attending high school. Further results show that high school students with bank accounts are more likely to save regularly, indicating that ISSP contributes indirectly to saving regularly through its direct influence on getting students to open a bank account and open it early.

Previous research debated whether and to which extent normative views and own resource distribution behavior in childhood are dissociated or aligned. The present study aims to advance this debate by examining the relation from two different methodological viewpoints within the same study. Here, 4-6-year-old children's (N = 91) normative views and distribution behavior when confronted with a rich friend and a poor non-friend were assessed. Children's spontaneous protest and affirmation toward distributors, evaluations, and punishment judgments served as normative indicators. Looking at average normative views and behavior, preschoolers held a normative view toward rectifying inequalities while favoring the rich friend themselves. Looking at the consistency of interindividual differences, preschooler's normative view correlated with behavior. The study highlights that the relation between normative views and behavior is characterized by both dissociation and coherence.

Social scientists have developed numerous asset-based wealth indices to assess and target socioeconomic inequalities globally. However, there are no systematic studies of the relative performance of these different measures as proxies for socioeconomic position. In this study, we compare how five asset-based wealth indices--the International Wealth Index (IWI), the Standard of Living portion of the Multi-Dimensional Poverty Index (MPI-SL), the Poverty Probability Index (PPI), the Absolute Wealth Estimate (AWE), and the DHS Wealth Index (DHS)--predict benchmarks of socioeconomic position across 11 communities in rural Bangladesh. All indices were highly correlated. The IWI best explained variation in individual and community ranking of economic well-being, while the PPI best explained variation both between and within communities for total household wealth and a general measure of subjective social status.

Faculty work now includes market-like behaviors that create research, teaching, and service opportunities. This study employs an embedded case study design to evaluate the extent to which faculty members interact with external organizations to mitigate financial constraints and how those relationships vary by academic discipline. The findings show a similar number of ties among faculty members in high- and low-resource disciplines, reciprocity between faculty members and external organizations, and an expanded conceptualization of faculty work.

Access to Britain's highly-resourced private schools matters because of concerns surrounding social mobility. Using the UK Family Resources Survey, we document a high and mostly stable income concentration of private school access since 1997. Nevertheless, some low-income participation persists. Bursaries are income-progressive but cannot account for this participation. Housing wealth is, however, found to be greater for private school participants. We estimate that a 10 per cent rise of family income and home value raises private school participation by 0.9 points, respectively. Neither effect changes over time. The income effect, however, falls sharply outside the top income decile.

Employment outcomes for transition-age youth with autism spectrum disorder (TAY-ASD) following Vocational Rehabilitation (VR) services declined between 2002 and 2011; although a few states showed significant progress. We examined inter-state variation in VR service use and outcomes among TAY-ASD in 2014-2016, finding significant differences in the percentage of TAY-ASD who received VR services, entered VR services during secondary school, had timely development of an employment plan, and were employed at VR exit. Inter-state differences remained significant after adjusting for the influence of individual-level demographics and state-level unemployment and fiscal capacity, suggesting other factors influence variation. Future research should monitor whether changes in the VR program, via the 2014 Workforce Innovation and Opportunity Act, move the needle on VR outcomes for TAY-ASD.

There was much euphoria and enthusiasm surrounding the advent of the 17 Sustainable Development Goals (SDGs) in 2015, but there was little empirical evidence regarding how much would be required of countries to achieve the goals. This article contributes to filling this gap by estimating what Ghana needs in fiscal terms to achieve SDG 4: Quality Education. The article estimated an education gap, which indicates the difference between what pertains to education indicators in Ghana and what SDG 4 sets to achieve. Further, the fiscal capacity needed to address the gap was estimated while taking cognisance of the nation's education budget and fiscal space from tax revenues. The results indicated that Ghana is inefficient in its allocation of education resources. While the top-performing countries are, on average, spending less (4.18%) of their gross domestic product (GDP) on education and achieving more, Ghana is spending more (6.16%) of its GDP on education but achieving less. Thus, Ghana faces more of an allocation and efficiency challenge contrary to a resource challenge to attain SDG 4. Provided the nation wants to maintain its inefficiency track, it will need to allocate an additional 0.58 per cent of its GDP to education to boost its educational performance to the level of the top-performing countries.

Background: In the wake of the 2007-2008 global financial crisis, calls for financial literacy education increased dramatically. In both the United States and Canada, the financial collapse and its aftermath saw a resurgence of personal finance programs and initiatives in schools. While financial literacy education continues to be introduced in U.S. and Canadian high schools through the implementation of financial literacy standards into social studies curricula, few studies have focused on the content and ideology of these standards. This study is the first to provide a systematic review of all available high school financial literacy standards across the United States and Canada. Purpose: The purpose of this research was to render visible the hidden ideological underpinnings of financial literacy standards. Specifically, the study investigated what the discourse in the standards implied about individuals' financial outcomes and what was made invisible about the ways in which people achieve or fail to achieve economic security and wealth. Research Design: This study employed critical discourse and ideological analysis to examine state-sanctioned financial literacy standards from 43 high school social studies curriculum documents in the United States and Canada. Findings: The analysis revealed that, overall, financial literacy standards framed financial wellbeing as a personal doing while neglecting to consider the broader social, economic, and political forces influencing financial outcomes. This research demonstrates how financial literacy discourses, rooted in ideologies of merit, often tell an incomplete story about the origins and determinants of both wealth and poverty. Conclusions: The results from this study offer insight into how deficit thinking about economically marginalized individuals and groups continues to permeate educational discourse. In examining financial literacy standards in particular, this study contributes to existing research problematizing financial literacy initiatives and calling for more critical, inclusive, and nuanced approaches. This research also adds to scholarship unpacking the ideological assumptions embedded in state-mandated academic standards concerning wealth and poverty.

Purpose: This study explored implementation of the middle school concept (MSC) in Illinois middle-level schools, examining relationships between MSC implementation and schools' relative wealth, racial/ethnic composition, and achievement levels. Design/methodology/approach: This quantitative study utilized a sample of 137 Illinois middle-level schools, defined as containing any combination of grades 5-9, including at least two consecutive grade levels and grade 7. Principals completed an online survey, identifying levels of implementation of advisory, teaming with common planning time (CPT), and a composite of both advisory and teaming with CPT. Findings: Schools with high advisory implementation had significantly higher rates of Latinx enrollments. Schools with lower operating expenditures per pupil were significantly less likely to implement advisory or advisory and teaming. Teaming had a significant relationship with composite PARCC test scores, but there was no significant effect for advisory and no significant interaction of advisory and teaming together. Practical implications: MSC is more expensive to implement, and affluent districts may have the financial means to absorb these costs. Although teaming facilitated improved state test scores, advisory programming did not result in significantly improved scores. Social implications: Lack of access to MSC programming in less affluent communities presents an equity issue for low-income students and students of color. Originality/value: This study contributes to research examining underlying issues of race and poverty and their effects on academic achievement and the effectiveness of the MSC.

Is public education equitable and does it provide an equal opportunity to all children and youths? Equity in public school funding is a critical issue facing all communities and has been addressed by the courts in all but five states. A key focus is on funding gaps between rich and poor school districts. Recently, attention has turned to the relationship between funding gaps and the opportunity gaps that have real and important impacts on student outcomes. This research provides a comprehensive analysis of equity in a western state of the U.S.A. Fifteen quantitative statistics, weighted for high-cost students, sparsity, district population, and the cost of education, are calculated and discussed. It was found that there are large opportunity gaps among school districts and they are linked to local wealth. This makes the quality of education a function of local wealth that abridges equal opportunities to learn and to be successful, for children and youth in schools and classrooms. Implications for closing the opportunity gap are discussed in the final section.

This study analyses the theoretical cost-savings that might flow from a merger of three of Western Australia's five universities. The results of the study show that an amalgamation would not only reduce costs of operation, but also improve non-current asset use and accountability. Combination reporting also allows the key stakeholders to appraise these universities' main financial activities, which appear to be maintaining a relatively high level of non-salary expenditure as a percentage of revenue and preserving a very high percentage of land and buildings as mainstay assets.

James Cantor, a professor in the College of Education at California State University, describes his history with the California Council on Teacher Education (CCTE or Cal Council) before becoming the President of the CCTE in 2008. He served as an active member for 10 years prior to becoming the Cal Council President. The author shares the challenges and accomplishments throughout his presidency, as well as his thoughts on what he thinks is important in regard to the past, present, and future of the CCTE. This article addresses the following topics regarding the CCTE: (1) What is Important for CCTE--Past, Present, and Future?; (2) Conference Planning as a Core Activity; (3) Significant Achievements; (4) Issues That Still Need Work; and (5) Past, Present, and Future.

The author knew of no formalized system for appraising grant capacity and readiness so, in an effort to understand the current state of knowledge regarding assessment of these institutional factors, conducted a systematic review of the research administration literature. Every article published from 1982 through 2013 by five major journals in the field of research administration was considered as a source. The results showed that across 32 years, few articles have been published on the assessment of institutional grant capacity and preparedness and little evidence-based content is present related to this topic. Since discussion of every grant proposal includes some interaction about institutional capacity to complete the project and preparedness to undertake it, this is an important gap in the literature. Gauging an organization's capacity for grant activity or its readiness to propose projects to external funders is practiced, at present, locally and in an often idiosyncratic manner. This circumstance does not allow for quantification of institutional capacity, benchmarking against past capacity or that of peer institutions, or strategic planning of grant activity based on measured levels of capacity and readiness. Moving practice in this area from being subjective and context dependent toward including evidence-based and context-independent factors is necessary to allow measurement, benchmarking, and comparison. Research administrators' strong focus on process comprehension, management, and improvement would appear to support consideration and development of solutions in assessing grant capacity and readiness. Existing and future studies that demonstrate constructs which influence activity related to sponsored projects could serve a foundational role in the development of such assessments.

For poor families, the possession of assets--savings accounts, homes, and the like--has the potential not only to relieve some of the stress of living in poverty but also to make a better future seem like a real possibility. If children in families that own certain assets fare better than children in families without them, then helping poor families build those assets would be an effective strategy for two-generation programs. Indeed, write Michal Grinstein-Weiss, Trina Williams Shanks, and Sondra Beverly, plenty of evidence shows that assets are connected to positive outcomes for poor children. For example, young people who have any college savings at all, even a very small amount, are more likely to go to college; children in households with assets score higher on standardized achievement tests; and children of homeowners experience fewer behavioral problems. But this evidence comes from longitudinal data sets and is therefore correlational. Looking for causal relationships, the authors examine the results of experimental programs that opened various types of savings accounts for poor people and matched their contributions. Several of these trials included a control group that did not receive a savings account, making it possible to attribute any positive outcomes directly to the savings accounts rather than to their owners' personal characteristics. These programs dispelled the myth that poor people can't save; participants were generally able to accumulate savings. It's too early to tell, however, whether assets and asset-building programs have long-term effects on children's wellbeing, though one experiment found positive impacts on disadvantaged children's social-emotional development at age four. The most promising programs share several features: they are opened early in life; they are opened automatically, with no action required from the recipients; and they come with an initial deposit.

The paper examines the extent to which sub-national public officials are efficient in delivering basic education services and argues that technical inefficiencies, especially in the management of public funds for education, could potentially contribute to poor education service delivery in South Africa. A conceptual framework is proposed to show the underlying mechanisms by which these technical inefficiencies can adversely affect education outcomes. The analysis is based on two micro-level surveys that were applied at 175 public primary schools and 13 district education offices (DEOs) in two provinces in South Africa: the North-West Province and Gauteng. The analysis reveals that South Africa has a well-planned decentralised structure to administer education. However, districts have significant human resource constraints. Capacity is often lacking and record-keeping, particularly of financial information, is very poor. Lack of technical efficiency has resulted in misappropriation of funds (leakage) and extensive delays in remitting funds to schools. The paper concludes that these inefficiencies potentially affect education outcomes and therefore should be given due consideration when designing and implementing education policy reforms.