| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21271 |
| 来源ID | Working Paper 21271 |
| What Do University Endowment Managers Worry About? An Analysis of Alternative Asset Investments and Background Income | |
| Harvey S. Rosen; Alexander J. W. Sappington | |
| 发表日期 | 2015-06-15 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | This paper examines whether university endowment managers think only in terms of the assets they manage, or also take into account background income, the other flows of income to the university. Specifically, we test whether the level and variability of a university’s background income (e.g., from tuition and government grants) affect its endowment’s allocations to so-called alternative assets such as hedge funds, private equity, and venture capital. We find that both the probability of investing in alternative assets and the proportion of the portfolio invested in such assets increase with expected background income and decrease with its variability. |
| 主题 | Health, Education, and Welfare ; Education |
| URL | https://www.nber.org/papers/w21271 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/578946 |
| 推荐引用方式 GB/T 7714 | Harvey S. Rosen,Alexander J. W. Sappington. What Do University Endowment Managers Worry About? An Analysis of Alternative Asset Investments and Background Income. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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