Review, Comparison, and Outlook of the Influence of International Financial Crisis on Selected Top Universities
- 1 Shanghai Jiao Tong University, Shanghai, China
- 2 Shanghai Jiao Tong University, Shanghai, China
- 3 Shanghai Jiao Tong University, Shanghai, China
Abstract
The 2008 financial crisis caused severe impact on the world economy. What influences would the challenging economic situation exert on top universities? This paper assesses such influences on five selected top universities. The paper finds that, the financial crisis has had major impact on the endowment of universities, but the endowment payout has been smoothed; with relatively stable research, tuition, and endowment income, private top universities have been less affected than public ones which rely more heavily on state government funding; and that these top universities took relatively moderate measures against the crisis. The paper also discusses the implications of this crisis to the top universities and to the building of top universities.
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