사립대학의 특성이 재정건전성에 미치는 영향

[Purpose]The purpose of this study is to analyze the relationship between the characteristics of private universities and their financial soundness using financial statement data. Due to the decline in the school－age population and the concentration of applicants in metropolitan universities, many regional private universities are facing financial crises. Therefore, this study aims to identify the causes of financial deterioration by analyzing the relationship between university characteristics and financial soundness. [Methodology] For the analysis, financial statements, student numbers, per capita education expenses, and tuition data disclosed from 2018 to 2022 were used. The regional, size, and financial characteristics of private universities were identified, and the relationship between these characteristics and financial soundness was empirically analyzed. [Findings] First, universities located in metropolitan areas showed higher financial soundness, and the greater the number of enrolled students, the better the financial soundness. Second, universities with a high dependence on non－tuition revenue showed better financial soundness compared to those that did not. Third, universities with higher discretionary reserves demonstrated better financial soundness. [Implications] This study provides empirical evidence supporting government policies such as the integration of small and medium－sized regional universities and financial support projects for regional universities to enhance their sustainability. Additionally, it can contribute to the establishment of management policies for universities aimed at improving financial soundness.