This research explores responsible investment practices at Canadian and international universities. We analyze universities' "Statement of Investment Policy and Procedures" and "Responsible Investing Policies" to understand how responsible investing is included and how this varies by region. Our results show that most…

In the long history of higher education, there have been many endowment gifts that have strengthened institutions and brought about profound public benefits, but there are sometimes disappointment and controversy. Savvy donors need to think carefully before entering into endowment agreements which are difficult to change before death and virtually…

There are currently 353 NCAA Division I schools across 32 conferences, most of which do not maintain a profit from college athletic revenue (Berkowitz, et al., 2019). Previous quantitative literature identified the opportunities of investing in Division I college athletics as increased application rates, graduation rates, retention rates, alumni…

Public school districts in the United States borrow over a trillion dollars for their facilities each year from the municipal bond market, yet more than half of these school buildings need significant repair. In this paper, we examine the relationship between a single school district infamous for its infrastructure needs, the School District of…

Impacts to postsecondary institutions' enrollment and financial positions that resulted from the COVID-19 pandemic were examined in this study. Taking a quantitative observational approach, enrollment trends as they relate to changes in tuition and fee revenue, unrestricted cash on hand, and unrestricted investments held are analyzed to determine…

As the calls for responsible investing grow, universities will be asked about their endowments' investment policies regarding impact investing, wherein endowments seek opportunities that provide investment returns and social impact. A common concern for the investment committees, however, is how to incorporate impact investments without…

The NACUBO-Commonfund Study of Endowments (NCSE) for fiscal year 2023 marks the 50th consecutive year that NACUBO has published a Study of the endowments of institutions of higher learning. It would not be an overstatement to say that the Study chronicled five decades of unparalleled change. The investment industry and endowment management have…

Educational technology is the focus of increasing financial investment. In this article, we examine how edtech investors imagine and invest in the future of higher education through an empirical case study of a UK investing company. Utilising concepts and methods from economic sociology, we analyse how investment companies engage in…

Work-Integrated Learning (WIL) is perceived as important by universities and industry for equipping students with employability skills. This study contributes to the literature by using a methodological approach that visualises the sustained underinvestment in WIL by both universities and industry, which leaves professional staff who administer…

Between March 2020 and March 2021, Congress allocated $189.5 billion for a new Elementary and Secondary School Emergency Relief (ESSER) Fund. The arrival of this federal aid was a lifeline for schools attempting to serve students amid the COVID-19 pandemic. This funding was distributed in a very different manner, and with very different rules and…

This paper examines how school districts change teacher salaries in response to large changes in revenue. Using district-level salary schedule data for nearly all California school districts, we analyze two time periods: one with a decrease in funding (2007-08 to 2011-12 marked by the Great Recession) and one with a significant increase in funding…

The COVID-19 pandemic triggered the biggest disruption to EU countries' societies and economies, including their education systems, since World War II. Responding to the crisis has forced national governments to increase their spending to keep the economy and public services afloat. This situation has brought about significant opportunities as…

The Global Business Coalition for Education (GBC-Education) was founded to bring the business community together to end the global education crisis. GBC-Education seeks to increase investments in education from the private sector. In 2019, GBC-Education began developing a suite of resources and services to support partners in its network in making…

This paper identifies which investments in school facilities help students and are valued by homeowners. Using novel data on school district bonds, test scores, and house prices for 29 U.S. states and a research design that exploits close elections with staggered timing, we show that increased school capital spending raises test scores and house…

Increasingly governments and donors seek to invest in programs and policies that are cost-effective rather than those that just maximize impact. Cost-effectiveness analysis aims to estimate how much an intervention costs per outcome delivered and benchmark this against similar metrics estimated for alternative interventions targeting the same…