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For most of the others, the human-capital gap is large, and likely to widen rather than narrow.One factor that the study quantifies is human-capital endowment, meaning the brainpower created by parents, formal education and training, and on-the-job learning.
Ms. Nasar said that when she looked into the matter, she learned that the misspending expanded to include "the fruit of the endowment," meaning that it went beyond the technology charges and included Knight's $1.5 million gift, Columbia's $1.5 million match and the income earned on the endowment over the decade.
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He favors funds, like the three from Vanguard, that are run as endowments, meaning they pay out indefinitely, but with no guarantees, instead of liquidating over a specific time.
Theorists have paid special attention to the interactions of people and place, specifically the endowment of meaning to places (termed sense of place).
So more endowment means higher tuition.
Universities and community foundations have seen their endowments ravaged, meaning they have less to give.
Yale's $19.4 billion endowment dwarfs Oxford's £3.9 billion, meaning that they can pay for everything from summers abroad to huge research grants.
The ABI said on May 13th that 35% of advisory letters being sent to endowment-policy homebuyers were coded red, meaning that there was a high risk of a shortfall.
American universities also have higher endowments and better fund-raising operations, meaning that American universities have two to five times as much to spend on each student, according to the commission report.
Values of u i = 1 imply that the analyzed schools are fully efficient, meaning that given the initial input endowment and the existing technology, these schools are maximizing their outputs and managing correctly the available school inputs.
In addition to making risky investments and using leverage, the endowments also were intensive users of illiquid investment strategies, meaning that they "locked up" their money in funds, sometimes for five or 10 years.
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