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Managers, Markets, and Money: Essays on the Economics of Higher Education
Managers, Markets, and Money: Essays on the Economics of Higher Education
Managers, Markets, and Money: Essays on the Economics of Higher Education

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자료유형  
 학위논문 서양
최종처리일시  
20260202103148
ISBN  
9798315700265
DDC  
379.1
저자명  
Acevedo, Nicolas.
서명/저자  
Managers, Markets, and Money: Essays on the Economics of Higher Education
발행사항  
[Sl] : Columbia University, 2025
발행사항  
Ann Arbor : ProQuest Dissertations & Theses, 2025
형태사항  
138 p
주기사항  
Source: Dissertations Abstracts International, Volume: 86-11, Section: A.
주기사항  
Advisor: Scott-Clayton, Judith.
학위논문주기  
Thesis (Ph.D.)--Columbia University, 2025.
초록/해제  
요약This dissertation explores the organizational and market mechanisms that influence student success in higher education, beyond student access to financial and support resources. This work finds that factors such as leadership compensation, quality and characteristics, the structure of outside labor markets, competitive pressures, and the structure of financial aid mediate student outcomes. These results suggest that a successful higher education policy needs to take into account how institutional governance, market forces interact with existing student support policies to ensure that public and institutional incentives are aligned in ensuring an efficient use of resources.The first chapter focuses on how college presidents' compensation responds to taxation, and how their behavior changes in turn. I use a provision of the 2017 Tax Cuts and Jobs Act, which introduced a 21% excise tax on nonprofit compensation above a $1 million threshold, which applied to private nonprofit college presidents and increased the cost to institutions of their total compensation. I use an event study design to estimate the effect of this tax on presidential compensation, finding that presidential compensation fell by 26% and their probability of exit increased by 19%. Presidents adapted their behavior in response to this drop in compensation by prioritizing easily observable financial outcomes instead of student expenditure and success, increasing net income by 30% and investment returns by 23%, while the most taxed presidents decreased student net financial aid by 0.56% per additional 1% of their tax burden. The impact of the TCJA also varies by president demographics: female presidents' compensation decreases were twice as large as those found for their male counterparts. I also find that the returns to experience are substantial, as presidents coming from the private sector or government underperform their counterparts with higher education experience.The second chapter, joint with Stephanie Riegg Cellini and Kathryn Blanchard, explores institutional responses to changes in the labor market faced by their graduates in a particular context. In the United States, licenses are required for entry into many different occupations. Requirements vary by state and occupation, but many licenses require a minimum number of training or instructional hours. We consider the impact of these hours requirements on students and postsecondary institutions, with a particular focus on cosmetology (also known as hairstyling or beauty), the field that requires the highest number of training hours in the largest number of states. We implement a difference-in-difference design based on state-level changes in licensing hours for cosmetologists between 2011 and 2019. We ask how and whether changes to hours requirements influence student outcomes and institutional behavior. We find that lowering required hours is likely beneficial for students as it increases completion, lowers tuition, and expands enrollment among some groups of students. Larger institutions appear to reduce their tuition by less than smaller institutions. We find no detectable effects on student debt or cosmetologist earnings.The third chapter explores the effects and limits of emergency financial aid based on direct transfers to students. In this paper, I evaluate the impacts of an emergency financial aid program on short-term academic outcomes in the context of the Covid-19 pandemic. Using administrative data from a large public college system, I estimate a regression discontinuity model leveraging the assignment rule for additional funding based on expected economic need to evaluate the effects of marginal increases in aid. The regression discontinuity model finds no significant academic impacts of marginal increases in grant aid, consistent with similar results in the literature.
일반주제명  
Education finance
일반주제명  
Educational leadership
일반주제명  
Higher education
키워드  
Market mechanisms
키워드  
Managers
키워드  
Financial outcomes
키워드  
Cosmetologist
기타저자  
Columbia University TC: Economics and Education
기본자료저록  
Dissertations Abstracts International. 86-11A.
전자적 위치 및 접속  
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■1001  ▼aAcevedo,  Nicolas.
■24510▼aManagers,  Markets,  and  Money:  Essays  on  the  Economics  of  Higher  Education
■260    ▼a[Sl]▼bColumbia  University▼c2025
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■300    ▼a138  p
■500    ▼aSource:  Dissertations  Abstracts  International,  Volume:  86-11,  Section:  A.
■500    ▼aAdvisor:  Scott-Clayton,  Judith.
■5021  ▼aThesis  (Ph.D.)--Columbia  University,  2025.
■520    ▼aThis  dissertation  explores  the  organizational  and  market  mechanisms  that  influence  student  success  in  higher  education,  beyond  student  access  to  financial  and  support  resources.  This  work  finds  that  factors  such  as  leadership  compensation,  quality  and  characteristics,  the  structure  of  outside  labor  markets,  competitive  pressures,  and  the  structure  of  financial  aid  mediate  student  outcomes.  These  results  suggest  that  a  successful  higher  education  policy  needs  to  take  into  account  how  institutional  governance,  market  forces  interact  with  existing  student  support  policies  to  ensure  that  public  and  institutional  incentives  are  aligned  in  ensuring  an  efficient  use  of  resources.The  first  chapter  focuses  on  how  college  presidents'  compensation  responds  to  taxation,  and  how  their  behavior  changes  in  turn.  I  use  a  provision  of  the  2017  Tax  Cuts  and  Jobs  Act,  which  introduced  a  21%  excise  tax  on  nonprofit  compensation  above  a  $1  million  threshold,  which  applied  to  private  nonprofit  college  presidents  and  increased  the  cost  to  institutions  of  their  total  compensation.  I  use  an  event  study  design  to  estimate  the  effect  of  this  tax  on  presidential  compensation,  finding  that  presidential  compensation  fell  by  26%  and  their  probability  of  exit  increased  by  19%.  Presidents  adapted  their  behavior  in  response  to  this  drop  in  compensation  by  prioritizing  easily  observable  financial  outcomes  instead  of  student  expenditure  and  success,  increasing  net  income  by  30%  and  investment  returns  by  23%,  while  the  most  taxed  presidents  decreased  student  net  financial  aid  by  0.56%  per  additional  1%  of  their  tax  burden.  The  impact  of  the  TCJA  also  varies  by  president  demographics:  female  presidents'  compensation  decreases  were  twice  as  large  as  those  found  for  their  male  counterparts.  I  also  find  that  the  returns  to  experience  are  substantial,  as  presidents  coming  from  the  private  sector  or  government  underperform  their  counterparts  with  higher  education  experience.The  second  chapter,  joint  with  Stephanie  Riegg  Cellini  and  Kathryn  Blanchard,  explores  institutional  responses  to  changes  in  the  labor  market  faced  by  their  graduates  in  a  particular  context.  In  the  United  States,  licenses  are  required  for  entry  into  many  different  occupations.  Requirements  vary  by  state  and  occupation,  but  many  licenses  require  a  minimum  number  of  training  or  instructional  hours.  We  consider  the  impact  of  these  hours  requirements  on  students  and  postsecondary  institutions,  with  a  particular  focus  on  cosmetology  (also  known  as  hairstyling  or  beauty),  the  field  that  requires  the  highest  number  of  training  hours  in  the  largest  number  of  states.  We  implement  a  difference-in-difference  design  based  on  state-level  changes  in  licensing  hours  for  cosmetologists  between  2011  and  2019.  We  ask  how  and  whether  changes  to  hours  requirements  influence  student  outcomes  and  institutional  behavior.  We  find  that  lowering  required  hours  is  likely  beneficial  for  students  as  it  increases  completion,  lowers  tuition,  and  expands  enrollment  among  some  groups  of  students.  Larger  institutions  appear  to  reduce  their  tuition  by  less  than  smaller  institutions.  We  find  no  detectable  effects  on  student  debt  or  cosmetologist  earnings.The  third  chapter  explores  the  effects  and  limits  of  emergency  financial  aid  based  on  direct  transfers  to  students.  In  this  paper,  I  evaluate  the  impacts  of  an  emergency  financial  aid  program  on  short-term  academic  outcomes  in  the  context  of  the  Covid-19  pandemic.  Using  administrative  data  from  a  large  public  college  system,  I  estimate  a  regression  discontinuity  model  leveraging  the  assignment  rule  for  additional  funding  based  on  expected  economic  need  to  evaluate  the  effects  of  marginal  increases  in  aid.  The  regression  discontinuity  model  finds  no  significant  academic  impacts  of  marginal  increases  in  grant  aid,  consistent  with  similar  results  in  the  literature.
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■650  4▼aEducational  leadership
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■653    ▼aMarket  mechanisms
■653    ▼aManagers
■653    ▼aFinancial  outcomes
■653    ▼aCosmetologist
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■71020▼aColumbia  University▼bTC:  Economics  and  Education.
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■792    ▼a2025
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■85640▼uhttp://www.riss.kr/pdu/ddodLink.do?id=T17357206▼nKERIS▼z이  자료의  원문은  한국교육학술정보원에서  제공합니다.

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