Analyzing the Financial Condition of Higher Education Institutions Using Financial Ratio Analysis Page: 12
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CHAPTER 2
REVIEW OF RELATED LITERATURE
During the 1960s and 1970s, numerous publications, conferences, and
workshops were devoted to the subject of ratio analysis. Nathan Dickmeyer and K.
Scott Hughes made only a few modifications during the 1980s. John Minter Associates
have published the most recent study dealing with financial ratios. Their findings were
incorporated into this study.
Lupton, Augenblick, and Heyison (1976) used a panel of experts, as well as
discriminate analysis, to determine 16 discriminating indicators of financial condition.
The indicators include institutional control, enrollment trends, trends in education and
general expenditures, current fund revenues to expenditures, academic expenditures to
education and general expenditures, freshman full-time equivalents (FTEs) to total
undergraduate FTEs, and tuition and fees to student aid revenues.
Collier and Patrick (1978) conducted theory-based research and developed a set
of dimensions that describe financial condition. These dimensions included financial
independence, revenue drawing power, financial risk, revenue stability, and reserve
strength. Collier and Patrick also used experts and discriminate analysis to determine
the indicators that discriminated between strong and weak private institutions and
between strong and weak public institutions.12
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Buddy, Nancy J. Analyzing the Financial Condition of Higher Education Institutions Using Financial Ratio Analysis, dissertation, May 1999; Denton, Texas. (https://digital.library.unt.edu/ark:/67531/metadc2194/m1/16/: accessed April 23, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; .