This article explores long-term trends in spending using data compiled from the "Training" magazine Annual Industry Survey from 1982 through 2008. It builds on literature that proposes spending on training is an investment that yields benefits--and that offers methods for demonstrating it. After adjusting for inflation, aggregate spending on…

We discuss a simple model of intergenerational transfers with one-sided altruism: parents care about their child but the child does not reciprocate. Parents and children make investments in the child's education, investments for other purposes, and parents can transfer cash to their child. We show that for an identifiable set of parent-child…

The fiscal condition of states deteriorated dramatically over the last two years because of the depth and length of the economic downturn, and state officials do not expect this situation to improve any time soon. Previous downturns have proven that the worst budget years for a state are the two years after the national recession is declared over.…

The association between market-determined risk measures and accounting-determined risk measures was originally explored in the 1970s by Beaver, Kettler, and Scholes (BKS). The results of the BKS (1970) study suggest that accounting information is usefulness in assessing firm specific risk. Since BKS, there have been few studies conducted to…

In 2005, eBay's founder gave Tufts University $100-million dollars with an unusual stipulation: The money was to be invested in the burgeoning field of microfinance and used to provide small-business loans and other financial services to poor people around the world. The university would make money if the investments were profitable. The author…

The Race to the Top fund (RTT) is intended to be a major federal investment in state and local education capacity and systemic education reforms aligned with federal policy priorities. In coming years, questions will be asked about the extent to which investments made through the RTT grant program improve educational productivity and…

Continuing this series on the theory of financial management, the current article investigates capital structure, offering insight into the roles of stockholder wealth maximization, the risk-return tradeoff, and agency conflicts. Much literature addresses this topic, and some of the most recent literature challenges certain theoretical…

As college costs have continued to rise, states have offered families a way to save for their child's education. Private savings accounts, known as 529 savings plans, allow a family's investment to grow tax-free until a child is ready for college. Today, every state sponsors at least one 529 plan, and families have more than 10 million accounts,…

The Review of Higher Education Base Funding gives Government an historic opportunity to set higher education funding on a sound footing for the future, and to commit the support needed to achieve its important quality and participation goals. There is a significant funding gap, which has led universities to neglect infrastructure and let class…

This paper discusses the experience of UK doctoral graduates in pursuing entrepreneurial careers: there is evidence that this applies to a substantial number--about 10%--of doctoral graduates. The nature of their experience was explored using 37 interviews with doctoral entrepreneurs. The research was funded by Vitae (www.vitae.ac.uk), an…

There is high uncertainty associated with the outcomes of Information Technology (IT) investments and innovations. In such environments, IT actors (firm and individuals) are also unsure about their actions and preferences. The social relationships of these actors create substantial value for these actors in multiple ways (e.g. providing social…

Presidents and boards deal with great uncertainty all the time. Today, however, many of them also face a troubling certainty: Business as usual is the road to failure. The trend lines of revenue and expense, once aided by marginal income from growing enrollments, once amenable to marginal annual balancing tweaks, and once cushioned by reserves,…

In this article, the authors argue that there "is" a real fiscal problem in higher education, but it is not the huge endowment losses--20 to 30 percent--that are attracting so much publicity. Those losses play only a small role in higher education's current financial dilemma, and then only at a comparatively few colleges and universities--but they…

The United States is at a critical crossroads in its history right now. The public policy problems that the people are facing are complex and interrelated, and the demographic changes that are about to significantly change their country are not well understood by large numbers of people. In this presidential address to the Association for Public…

The purpose of this study was intended to examine the inner voices behind the students' choices of American higher education and their persistence in college in relation to financial factors, especially the student financial aid programs and their debt burdens during and after college. Case studies were used to answer the three research questions:…