Private Endowment Research Articles

Governance of Endowments in Saudi Public Universities

This study aimed to identify the concept of university governance and the concept of university endowment governance and to uncover the most outstanding challenges that face university endowments when implementing governance concepts. To achieve these goals, the study used the descriptive survey approach that relied on interviews as a tool to collect data. The number of respondents reached (20) respondents from (16) Saudi universities in addition to an interview with the vice president of the Private Endowment board, and the study reached several results, the most important of which are: The activation of university-governance endowments including the issuance of legislations that organize university endowment work and achieve the desired objectives of its establishment. The results of the study also revealed a set of existing challenges facing university endowments in Saudi Arabia, and the results included some of the contributions that help in overcoming these challenges. The study recommended emphasizing the role of university-governance endowments and revealing the best practices of governance locally and internationally that lead to the effectiveness of university endowments in Saudi Arabia, and working to encourage community contributions in university endowments, spreading the culture of its programs, and raising awareness of the reality of its governance.

Place of the Popular Music in the System of Cultural Heritage Protection – The Example of Cooperation between National Library of Serbia and Milan Mladenović Endowment

The Example of recently established cooperation between National Library of Serbia and Endowment of Milan Mladenović (Yugoslav poet and musician from the last decades of 20th century) shows a model of joining traditional heritage institution and a private endowment in the area of cultural heritage protection. Attention is paid to the ways of memorialisation and musealisation of personalities and phenomenons of the past in the domain of “popular” culture. The more active role of traditional institutions in “discovering” heritage is needed; as well as action towards coverage of wider range of non-traditional cultural creations.

Using university rankings as a potential indicator of student experiences in American higher education

ABSTRACTStudents at America’s most renowned private universities face different acceptance rates, college wealth, class sizes, and potential graduate earnings even in comparison with students at the nation’s highest-ranking public institutions. The analyses that led to these findings frequently focused on national or state-wide comparisons of public versus private universities. This paper contrasts these studies by analysing a fixed group of colleges, those regularly listed in the global top 50 of research and reputation rankings. It argues that even within this small subset of colleges, the highest-ranking public universities have more in common with their similarly positioned private counterparts than with lower ranking public institutions; a finding reflected in assessments of private colleges. Subsequently, the paper finds that student experiences are more likely defined by a college’s reputational rank than by an institution’s public or private status, endowment, or acceptance rates, however, the same was found not to be true of potential graduate earnings.

Autonomy or oligarchy? The changing effects of university endowments in winner-take-all markets

This paper directs attention to important changes in the role and funding of elite private universities in the USA. At the center of these changes is the private endowment—an institution that has for much of its history been a pivotal element of innovation and autonomy, but which is recently tilting towards the production and reproduction of oligarchic institutional conditions. In the context of an explosion of wealth inequality in winner-take-all markets where elite higher education serves to provide coveted access to rare positional goods, the in perpetuity endowment—as currently configured—allows a small group of globally leading institutions to become rentiers who can support themselves nearly exclusively through the returns on their endowed capital. With that, a century-old dynamic of innovation and change of American higher education is at risk of collapsing. Where the elite private universities used to act as the head of Riesman’s snake-like procession, pulling the majority of American universities along in a process of isomorphic emulation, the emerging gulf between a handful of academic rentiers and the rest of the academic body (including many world-renowned, but not super-rich universities) threatens to cut that head off from the body, leaving the majority of the remaining institutions scrambling for survival at the mercy of the dictates of academic capitalism. We review policy options capable of taming the run-away endowment and place the issue in the larger context of the tension between Madisonian and Jeffersonian democratic imperatives.

Information and Competition with Symmetry

This paper investigates the strategic foundations for rational expectations equilibrium. In the model, risk-averse traders with two signals — private information and endowment shocks — submit demand schedules to trade a risky asset. Traders are divided into groups. Within groups, traders share common signals; signals are different across different groups. Either traders become price takers or the price becomes fully revealing, but not both, as the number of competitors per group goes to infinity. As the number of groups goes to infinity, neither price taking nor fully revealing prices are obtained. Measuring competition by the quantity traded as a fraction of that traded by a price-taker, we show that optimal exercise of market power has opposite implications for competition and price informativeness.

Deal or no deal? The effect of alcohol drinking on bargaining

Alcohol drinking during business negotiation is a very common practice, particularly in some East Asian countries. Does alcohol consumption affect negotiator's strategy and consequently the outcome of the negotiation? If so, what is the mechanism through which alcohol impacts negotiator's behavior? We investigate the effect of a moderate amount of alcohol on negotiation using controlled experiments. Subjects are randomly matched into pairs to play a bargaining game with adverse selection. In the game, each subject is given a private endowment. The total endowment is scaled up and shared equally between the pair provided that they agree to collaborate. It is found that a moderate amount of alcohol consumption increases subjects’ willingness to collaborate, thus improving their average payoff. We find that alcohol consumption increases neither subjects’ preference for risk nor altruism. A possible explanation for the increase in the likelihood of collaboration is that subjects under the influence of alcohol are more “cursed” in the sense of Eyster and Rabin (2005), which is supported by the estimation results of a structural model of quantal response equilibrium.

Malevolent Governance, Intra-Group Conflict and the Paradox of the Plenty: An Experiment

Using a laboratory experiment, we behaviourally study the impact of a sudden increase in the common-pool size on within-group conflict, i.e., the paradox of the plenty. We also consider the potential role of governance in avoiding this paradox. In the first stage, a randomly-chosen leader of the group determines how much of the common-pool resource to protect from second-stage conflict. In the next stage, each group member allocates his private endowment between working or fighting for a share of the unprotected resource. We consider two treatments: anarchy (consisting of the second stage only) and with a leader deciding in the first stage. We find that the existence of institutions is not always better than anarchy. This is aggravated when the resource size is higher. Group conflict (income) decreases (increases) only when leaders chose the strongest resource protection. When leaders are malevolent, i.e., they chose weak resource protection, outcomes are worse than when institutions are absent.

Uniqueness of competitive equilibrium with solvency constraints under gross-substitution

Under a gross substitution assumption, we prove existence and uniqueness of competitive equilibrium for an infinite-horizon exchange economy with limited commitment and complete financial markets. Risk-sharing is limited as only a part of the private endowment can be used as collateral to secure debt. The unique equilibrium is Markovian with respect to a minimal state space consisting of exogenous shocks and Negishi’s welfare weights. We represent equilibrium dynamics via a monotone operator acting on entire wealth distribution functions. We construct a fixed point of this operator generating a lower and an upper orbit and proving coincidence of accumulation points.

'His name will be called John': reception and symbolism in Obrecht's Missa de Sancto Johanne Baptista

THEMissa de Sancto Johanne Baptista (hereafter, the Sancto Johanne Mass) was long considered to be an anonymous Mass for the early 16th-century papal chapel, owing to its lack of attribution and its survival in only one Vatican source (Vatican City, Biblioteca Apostolica Vaticana, Ms. Cappella Sistina 160 (hereafter, CS160)).1 It is well known that this manuscript was prepared at the Alamire scriptorium along with two related sources (CS34 and CS36) and sent to Pope Leo X, probably between 1516 and 1519.2 Based on its multiple cantus firmi and on other stylistic grounds, the Sancto Johanne Mass is now attributed to Jacob Obrecht between c.1485 and c.1491; it has also come to light that this Mass is extensively modelled on Antoine Busnoys’s Missa L’homme armé from the later 1460s. Rob Wegman has suggested that the Sancto Johanne Mass might have been commissioned by a private endowment in the city of Bruges, where the composer wrote at least two other Masses with multiple cantus firmi.3 Although numerous churches in the Low Countries had altars dedicated to John the Baptist, a definitive endowment or other precise context for Obrecht’s Mass awaits discovery.

Boys School

73 I n 1977, the year I was to begin first grade, my parents decided to take me out of our local public elementary school, where I had attended kindergarten, and enroll me in an allboys private school across town, in what was back then a fairly downtrodden neighborhood on the Upper West Side of Manhattan . The move, so far as I can remember, came on the heels of a few run-ins I’d had with some older, black kids in the schoolyard toward the end of the previous year (I want to say they took the cookies from my lunch), and so, at least as far as my mother was concerned, my physical safety was a factor in the decision. But my older brother had been moved into a private school two years earlier, when he was in fourth grade, and it’s almost certain that I would have eventually followed suit. Partly it had to do with the fact that the New York City public schools were crumbling under a broken state budget, and my parents, themselves proud products of the public education system, were no longer convinced those schools could provide us with a good education. And partly it had to do with the fact that my parents, who had gone on to graduate from Harvard Law School, understood firsthand the particular pleasures of attending a well-endowed institution. But mostly I think it had to do with the fact that this was what successful professionals in the city like my parents did: enrolled their children in good private schools, so they could get into good colleges and graduate schools and go on to get good, high-paying jobs. Which is to say that, in the end, the decision probably had less to do with who I was than what my parents had become. So while my father sometimes acted as though he resented the decision—as though my mother’s anxiety had somehow forced his hand, that had it been left to him, I (let alone, my brother) would have toughed it out in public school as he had done and been the better for it—I suspect that he, like our mother, took a lot of satisfaction, pride even, in knowing that he had done ANDREW D. COHEN BOYS SCHOOL colorado review 74 his part to set us safely on the path toward prosperity, success, and happiness. The school was not just any private school, but one of the oldest , most competitive schools in the country, dating back some three hundred years to a time when its founders had to petition the London-based Society for the Propagation of the Gospel for funding. Once a church charity school, after the Revolution the school transformed itself into a college preparatory program modeled on the great English schools, like Harrow and Eaton, establishing a private endowment, easing its reliance on the Episcopal Church, adopting a new motto—“Labore et Virtue ”—and, according to the reverend who gave the address at the school’s 150th anniversary celebration, dedicating itself to nothing less than the “rightful training of our rising youth, of our city’s and country’s coming rulers.” Though the four-story building housing the elementary school I would attend dated back a mere seventy-five years, one nonetheless felt as though he were entering an imposing vault of history and expectation. I remember the apprehension with which I first walked through those wrought-iron gates, the heavy wooden doors, the arched entryway, and found myself standing in the Great Hall, with its high ceilings, its marble floors, its giant glass chandelier casting a gloomy yellow light against the dark corners of the windowless room. To the left stood the receptionist’s hulking wooden desk, beside which arose a broad marble staircase; before me, between two shallow staircases descending to the library, was a seating area with aged leather wing chairs and alumni magazines; to the right, past a series of glass display cases containing old trophies, basketballs, and yellowing, black and white photographs of unsmiling boys in knickers, stood two wooden doors that led to the administrative offices, including that of the headmaster with his...

Academic Freedom and Governmental Support

The increasing dependency of the medical profession on government for support of all its activities-health care, research, and education-has excited the already strident tension between government and medicine. The tension erupts primarily over the issue of increasing surveillance by government of what the profession does: how it provides care, what research is being done, and what is being taught in the schools and hospitals. That the profession needs the support of government is undeniable: the cost of health care is increasingly being borne by tax monies; medical research cannot proceed on private endowment and foundation support alone; and the education of physicians has become too expensive for either tuition or endowment funds to meet the cost. Given those facts, it is imperative that the profession deal with government. What government has asked for in return, beyond the provision of the care, the doing of the research, and the education of

Summary of the Present Situation

The arts in this country have developed almost entirely under the system of private patronage, and this is the mainstay of their support at present. There are signs of diminishing private endowment and a gradual shift to dependence upon state funds.

Summary of the Present Situation

The arts in this country have developed almost entirely under the system of private patronage, and this is the mainstay of their support at present. There are signs of diminishing private endowment and a gradual shift to dependence upon state funds.

Fresh Water Biology in Italy

FOUNDED in 1939 by private endowment, the Istituto Italiano di Idrobiologia de Marchi, at Pallanza (Province Novara), is scarcely known abroad. It is situated on the north shore of Lake Maggiore in one of the most suitable and beautiful sites for carrying out research and enjoying the surroundings. Its excellent equipment for field and laboratory research, its spacious accommodation and its sub-station—in a beautiful villa on Lake Como—provide full facilities for any kind of limnological investigation on the great lakes at the foot of the Alps; and a number of smaller lakes all the way up the slopes of the Alps are within easy reach. The main activities of the staff are freshwater ecology, systematics and genetics, a series of papers having already appeared as the Institute's Memorie. Free lodging and free laboratory facilities are offered to foreign guests (up to five at one time). Other facilities may be arranged for by agreement with the director, Dr. E. Baldi. Pallanza is easily reached from either of the two international railways, the Simplon and the St. Gotthard.

What the Public Wants

A STUDY OF THE AMERICAN MUSEUM OF NATURAL HISTORY. THE American Museum of Natural History probably stands at the head of those museums which set out to interest and attract the general public. In so doing it obeys the clauses of its Acts of Incorporation, but it obeys also the more imperative law of its continued life: to live, a museum, like everything else, must progress; to progress, it needs sustenance. The American Museum, being neither a Government museum, nor a State museum, nor a municipal museum, has to rely upon private endowment and subscriptions, The annual appropriation of the city is confined to the maintenance of the building, and is inadequate even for that purpose. To instal its exhibits, to send out its expeditions, to pay its staff, and to prosecute those scientific researches for which it is celebrated, the museum must arouse private individuals to that degree of enthusiasm at which, they will part with their dollars. The mechanism is the enrolment of such individuals as members of various grades, and so successful is it that no less, than 5556 members are now enrolled.

THE HOSPITAL AND ITS NECROPSY PERCENTAGE

To the Editor: —InThe Journal, Oct. 8, 1921, page 1198, is published a letter describing the progress made at the Philadelphia General Hospital in obtaining a high percentage of necropsies. The same problem is being met in an institution in which the securing of necropsies is even more difficult than in a large municipal institution. The institution is one of 400 beds, including a private ward, and is supported to a large extent by private endowment. Postmortem examinations are in charge of a resident pathologist, but the staff has every opportunity to assist in making them, and to examine the material, both in gross and microscopically. Formerly requests for necropsies were left in the hands of the executive office. Recently the matter has been entrusted to the house staff, a policy which has resulted in a marked increase in the number of necropsies, as shown by the following figures: