MARKET FOR ACCOUNTING FACULTY: DETERMINANTS...

MARKET FOR ACCOUNTING FACULTY:

DETERMINANTS OF SALARY,

PUBLICATIONS, AND

MOVEMENT

Sharad Asthana

UTSA

And

Steven Balsam

Temple University

(Very Preliminary)

April 2011

2

RESEARCH QUESTIONS

What are the determinants of accounting faculty

salary?

o Quantity and quality of publications?

o Quality of the employing School

o Quality of the School from where you

obtained PhD?

o Experience?

o Faculty Rank?

What are the factors affecting faculty

publications?

What are the factors that determine faculty

longevity?

3

SAMPLE SELECTION PROCEDURE

Salary Data obtained under Freedom of Information Act

Faculty details obtained from Hasselback and Official and

Personal faculty Websites (Graduating institution; year of

graduation; year of hire; faculty rank)

Publication details obtained from Proquest, Google Scholar,

Official and Personal faculty Websites

Cost of living data obtained from Government website

Ranking of Institutions obtained from Carnegie

classification and Public Accounting Report publications

Journal ranking obtained from:

“Examining Accounting Departments’ Rankings of the

Quality of Accounting Journals,” by Alan Reinstein

and Thomas Calderon,

Critical Perspectives in Accounting (2006, Vol 17):

457-490

Final Sample consists of-

o 627 accounting faculty (500 in USA and 127 in

Canada)

o That graduated from 121 Doctoral Institutions around

the world

o Employed at 47 Business Schools in USA and Canada

o Data ranges from 2008-2010 (one observation per

faculty)

4

LIMITATIONS OF THE RESEARCH

Data is available for one time period only (snap

shot) time-series data would allow for a much

richer analysis

Data on teaching performance is not available.

Trying to hand-collect this from

RateMyProfessor.Com etc. (any suggestions?)

Data on summer research grants is not available.

May add noise to the SALARY variable

Data for Private Schools is not available

Total number of moves during career not

available. Will try to collect this from Faculty

websites.

5

MAJOR CONCLUSIONS

TIER 1 PUBLICATIONS ARE PRICED $1,666 MORE THAN

TIER2 PUBS ($3,553 V/S $1,887 PER PUB). IMAGINE A 25

YEAR ANNUITY PV=$29,000 @ 3%)

YOUR FIRST PUB IN TAR/JAR/JAE EARNS YOU AN

AVERAGE SALARY INCREMENT OF 8% (COMPARED TO

5.6% FOR A TIER2)

CANADA APPEARS TO PAY MORE (MAY BE A

FUNCTION OF PRIOR YEARS’ ADVERSE CURRENCY

EXCHANGE RATES)

SALARY IS A NON-LINEAR FUNCTION OF EXPERIENCE:

FACULTY HIRED IN THE 21ST CENTURY EARNING MORE

THAN THEIR COUNTERPARTS FROM THE 20TH CENTURY

(AFTER CONTROLLING FOR EVERYTHING ELSE)

FACULTY MEMBERS GRADUATING FROM HIGH

QUALITY PHD PROGRAMS OR THOSE EMPLOYED AT

HIGH QUALITY SCHOOLS EARN AN AVERAGE OF

$11,000 MORE.

AVERAGE BASE SALARY GOES UP BY $25,000 FOR

EACH FACULTY RANK

HIGHER QUALITY SCHOOLS PAY HIGHER BASE

SALARY BUT SALARY INCREMENT ON GETTING A

PUBLICATION IS LOWER (WHY?)

FACULTY WITH A PHD FROM A HIGHER QUALITY

SCHOOL EARNS HIGHER BASE SALARY BUT SALARY

INCREMENT ON GETTING A PUBLICATION IS LOWER

(WHY?)

6

PREMIUMS FOR

o TAR = $5,000 JAE = $4,000 JAR = $3,000

o (NOT SIGNIFICANTLY DIFFERENT)

PROPENSITY TO STAY INVERSELY RELATED TO

SALARY (COUNTER-INTUITIVE?) MAYBE THE FACULTY

MOVED MORE FREQUENTLY TO INCREASE HIS

COMPENSATION

MOVEMENT LESS FREQUENT AT HIGH QUALITY

SCHOOLS

QUALITY OF PUBLICATIONS

o LOWER FOR CANADA

o INCREASES WITH SALARY

o INCREASES WITH PUBLISHING EXPERIENCE

o INCREASES WITH QUALITY OF SCHOOL

o INCREASES WITH FACULTY RANK

7

TABLE 1 VARIABLE DEFINITIONS

Variable Definitions

CURRTENURE Number of years faculty member has stayed on current job

DUMCANADA

Dummy variable with value of 1 for faculty working in Canadian Schools; and

0 otherwise

EXPERIENCE Number of years experience faculty member has since obtaining PhD

LIVINGCOST Cost of living index in the city of employment (obtained from government

sources)

LOGCURRTEN Natural logarithm of CURRTENURE

LOGEXPR Natural logarithm of EXPERIENCE

LOGSALARY Natural logarithm of SALARY

LOGTIER1PUBS Natural logarithm of TIER1PUBS



LONGEVITY

Measure of longevity in career; estimated as CURRTENURE divided by

EXPERIENCE

PHDRANK

Rank of the PhD program from where the faculty member graduated, based on

Carnegie Classification of Institutions

PUBQUALITY Weighted average of publication quality (tier1=3; tier2=2; tier3=1)

SALARY Total base annual salary of faculty member in US dollars

SCHOOLRANK

Rank of the School where the faculty member is currently employed, based on

Carnegie Classification of Institutions

TIER1PUBS Number of peer reviewed publications in tier 1 journals



TOTALPUBS Number of peer reviewed publications in all journals

8

TABLE 2

LIST OF SCHOOLS

S.No School State Country

1 Brock University Canada

2 Carleton University Canada

3 Lakehead University Canada

4 Laurentian University Canada

5 McMaster University Canada

6 Queen's University Canada

7 University of Ottawa Canada

8 University of Toronto Canada

9 University of Waterloo Canada

10 University of Western Ontario Canada

11 University of Windsor Canada

12 Wilfrid Laurier University Canada

13 York University Canada

14 Arizona State University Arizona USA

15 Miami University Florida USA

16 University of Illinois Illinois USA

17 Iowa State University Iowa USA

18 Michigan State University Michigan USA

19 University of Missouri, Columbia Missouri USA

20 Appalachian State University N Carolina USA

21 East Carolina University N Carolina USA

22 Fayettteville Sttate University N Carolina USA

23 North Carolina A&T State University N Carolina USA

24 North Carolina State University N Carolina USA

25 UNC Asheville N Carolina USA

26 UNC Chapel Hill N Carolina USA

27 UNC Charlotte N Carolina USA

28 UNC Greensboro N Carolina USA

29 UNC Pembroke N Carolina USA

30 UNC Wilmington N Carolina USA

31 Western Carolina University N Carolina USA

32 Winston Salem State University N Carolina USA

33 Rutgers University New Jersey USA

34 State University of New York Buffalo New York USA

35 Ohio State University Ohio USA

36 Clemson University S Carolina USA

37 Coastal Carolina University S Carolina USA

38 Francis Marion University S Carolina USA

39 University Of South Carolina S Carolina USA

40 Winthrop University S Carolina USA

41 Texas A&M University Texas USA

42 Texas State University Texas USA

43 University of Houston Texas USA

44 University of North Texas Texas USA

45 UT Arlington Texas USA

46 UT Austin Texas USA

47 UT San Antonio Texas USA

9

TABLE 3

RANKING OF JOURNALS

Rank Journal

Tier 1 The Accounting Review

Tier 1 Journal of Accounting and Economics

Tier 1 Journal of Accounting Resesarch

Tier 2 Contemporary Accounting Research

Tier 2 Auditing: A Journal of Practice and Theory

Tier 2 Journal of Accounting, Auditing, and Finance

Tier 2 Journal of American Taxation Association

Tier 2 Accounting, Organizations, and Society

Tier 2 Journal of Accounting and Public Policy

Tier 2 Journal of Management Accounting Research

Tier 2 Behavioral Research in Accounting

Tier 2 National Tax Journal

Tier 2 Journal of Information Systems

Tier 2 Review of Accounting Studies

Tier 2 Accounting Horizons

Tier 3 All other peer reviewed Journals

Source: “Examining Accounting Departments’ Rankings of the Quality of Accounting Journals,” by

Alan Reinstein and Thomas Calderon, Critical Perspectives in Accounting (2006, Vol 17):457-490

10

TABLE 4

SAMPLE CHARACTERISTICS

Panel A: Sample Distribution

(n = 627)

Variables Mean Median Std.Devn. Quartile 1 Quartile 3

SALARY $140,628 $142,200 $57,521 $109,413 $171,842

TIER1PUBS 1.0032 0.0000 2.8481 0.0000 1.0000

TIER2PUBS 1.5981 0.0000 3.3637 0.0000 2.0000

TIER3PUBS 5.4737 2.0000 8.8191 0.0000 7.0000

TOTALPUBS 8.0750 4.0000 11.9115 0.0000 11.0000

CURRTENURE 18.3238 21.0000 9.2717 10.0000 24.0000

EXPERIENCE 21.6571 22.0000 9.3706 16.0000 28.0000

LIVINGCOST 96.6045 99.9800 5.8847 91.0000 99.9800

SCHOOLRANK 0.5008 1.0000 0.5004 0.0000 1.0000

PHDRANK 0.4274 0.0000 0.4951 0.0000 1.0000

FACULTYRANK 2.7464 3.0000 1.1794 2.0000 4.0000

Panel B: Cross-Country Comparison

(n = 627)

Variables US Schools Canadian Schools t-Statistics

Observations 500 127

SALARY $133,690 $167,944 ***-6.17

TIER1PUBS 1.1360 0.4803 **2.32

TIER2PUBS 1.7020 1.1889 *1.85

TIER3PUBS 4.6520 8.7087 ***-4.71

TOTALPUBS 7.4900 10.3780 **-2.45

CURRTENURE 18.2600 18.5748 -0.34

EXPERIENCE 21.8420 20.9291 0.98

LIVINGCOST 95.9568 99.98 ***-5.60

PHDRANK 0.4600 0.2992 ***3.29

FACULTYRANK 2.6760 3.0236 ***-2.99

11

TABLE 4 (Continued)

Panel C: Comparison across Quality of the US Schools Employing the Faculty

(n = 500)

Variables

SCHOOLRANK t-Statistics

= 0 = 1


SALARY $134,981 $132,749 0.44

TIER1PUBS 0.5094 1.5972 ***-3.93

TIER2PUBS 1.1179 2.1319 ***-3.20

TIER3PUBS 4.9717 4.4167 0.82

TOTALPUBS 6.5991 8.1458 †-1.58

CURRTENURE 19.0425 17.6840 †1.61

EXPERIENCE 23.0991 20.9167 ***2.60

LIVINGCOST 99.1624 93.5972 ***11.07

PHDRANK 0.3538 0.5382 ***-4.15

FACULTYRANK 2.9481 2.4757 ***4.35

Panel D: Comparison across Quality of the School Granting Doctorate to the Faculty

(n = 627)

Variables

PHDRANK t-Statistics

= 0 = 1


SALARY $134,271 $149,144 ***-3.23

TIER1PUBS 0.5404 1.6231 ***-4.79

TIER2PUBS 0.9972 2.4030 ***-5.29

TIER3PUBS 4.3816 6.9366 ***-3.62

TOTALPUBS 5.9192 10.9627 ***-5.36

CURRTENURE 18.6045 17.9478 0.88

EXPERIENCE 21.6825 21.6231 0.08

LIVINGCOST 96.6686 96.5187 -0.32

SCHOOLRANK 0.4123 0.6194 ***-5.23

FACULTYRANK 2.6017 2.9403 ***-3.59

12

TABLE 4 (Continued)

Panel E: Sample Characteristics by Salary range

(n = 627)

Variables

Mean Values for Faculty Salary Range (in $000)

≤ 50 51-100 101-150 151-200 201-250 251-300 ≥ 301

observations 43 82 240 186 54 14 8

Percentage 6.8581% 13.0781% 38.2775% 29.6651% 8.6124% 2.2329% 1.2759%

SALARY $34,391 $73,547 $127,382 $171,289 $217,929 $268,749 $337,782

TIER1PUBS 0.0233 0.2073 0.2958 1.2204 3.0926 6.0000 7.7500

TIER2PUBS 0.0000 0.1463 0.7583 2.2903 4.7778 5.6429 5.6250

TIER3PUBS 1.0698 1.7561 5.3458 7.4032 6.0926 9.1429 15.6250

TOTALPUBS 1.0930 2.1098 6.4000 10.9140 13.9630 20.7857 29.0000

CURRTENURE 17.0000 19.5854 18.9250 18.1452 15.9444 18.7143 14.0000

EXPERIENCE 22.6512 23.4512 20.9208 21.1129 21.6481 24.3571 28.0000

LIVINGCOST 93.5740 96.0810 96.0726 96.9792 98.0619 103.6357 103.3625

SCHOOLRANK 0.6047 0.7073 0.3500 0.5376 0.5185 0.8571 0.7500

PHDRANK 0.2326 0.3415 0.4292 0.4624 0.5741 0.5000 0.3750

FACULTYRANK 1.2093 1.8171 2.8542 2.9839 3.5370 4.0000 4.2500

13

TABLE 4 (Continued)

Panel F: Sample Characteristics by Faculty Experience

(n = 627)

Variables

Number of Years Experience

0-10 11-20 21-30 ≥ 31

Observations 85 131 282 129

SALARY $153,227 $143,249 $132,903 $146,552

TIER1PUBS 0.6000 0.8931 0.8333 1.7519

TIER2PUBS 0.7765 1.9924 1.3617 2.2558

TIER3PUBS 1.6353 5.5725 5.1560 8.5969

TOTALPUBS 3.0118 8.4580 7.3511 12.6047

FACULTYRANK 2.0235 2.7328 2.6241 3.5039

SCHOOLRANK 0.6235 0.4427 0.4858 0.5116

PHDRANK 0.5882 0.4504 0.3227 0.5271

Panel G: Sample Characteristics by Faculty Rank

(n = 627)

Variables

Faculty Rank

Instructor Assistant Associate Full Endowed

Observations 119 147 166 164 31

SALARY $85,760 $140,850 $136,316 $171,717 $208,824

TIER1PUBS 0.2353 0.3741 0.5181 1.6159 6.2903

TIER2PUBS 0.1933 0.5170 1.3434 3.2073 4.9677

TIER3PUBS 1.3782 1.0544 6.5120 11.1585 6.5161

TOTALPUBS 1.8067 1.9456 8.3735 15.9817 17.7742

CURRTENURE 15.8739 14.0340 19.0000 23.1524 18.9032

EXPERIENCE 20.3782 15.1361 20.8193 28.3415 26.6129

SCHOOLRANK 0.7227 0.5714 0.3675 0.3902 0.6129

PHDRANK 0.3361 0.3605 0.4518 0.5061 0.5484

See Table 1 for variable definitions.

*** implies significance at 1% level (two-sided)

** implies significance at 5% level (two-sided)

* implies significance at 10% level (two-sided)

† implies significance at 10% level (one-sided

14

TABLE 5

CORRELATION MATRIX

DUMCANADA LOGTIER1PUBS LOGTIER2PUBS LOGTIER3PUBS LOGCURRTEN LOGEXPR LIVINGCOST SCHOOLRANK PHDRANK FACULTYRANK

LOGSALARY 0.22738 0.35276 0.39053 0.33309 -0.01727 -0.0711 0.22532 -0.07352 0.13679 0.54158

(<0.0001) (<0.0001) (<0.0001) (<0.0001) (0.6661) (0.0752) (<0.0001) (0.0658) (0.0006) (<0.0001)

DUMCANADA -0.102 0.04941 0.21995 0.03728 -0.02799 0.21855 -0.29843 -0.13062 0.11856

(0.0106) (0.2167) (<0.0001) (0.3514) (0.4842) (<0.0001) (<0.0001) (0.001) (0.0029)

LOGTIER1PUBS 0.67456 0.32163 -0.02079 0.07178 0.20087 0.20331 0.23345 0.34501

(<0.0001) (<0.0001) (0.6034) (0.0725) (<0.0001) (<0.0001) (<0.0001) (<0.0001)

LOGTIER2PUBS 0.48893 0.00186 0.07203 0.16204 0.15651 0.24498 0.4233

(<0.0001) (0.9628) (0.0715) (<0.0001) (<0.0001) (<0.0001) (<0.0001)

LOGTIER3PUBS 0.17588 0.2069 0.18998 -0.11733 0.18664 0.54181

(<0.0001) (<0.0001) (<0.0001) (0.0033) (<0.0001) (<0.0001)

LOGCURRTEN 0.65972 0.05903 -0.07672 -0.0718 0.298

(<0.0001) (0.1398) (0.0548) (0.0724) (<0.0001)

LOGEXPR 0.10706 -0.0822 -0.06978 0.3609

(0.0073) (0.0396) (0.0808) (<0.0001)

LIVINGCOST -0.42223 -0.01261 0.22664

(<0.0001) (0.7526) (<0.0001)

SCHOOLRANK 0.20495 -0.20132

(<0.0001) (<0.0001)

PHDRANK 0.14216

(0.0004)


p Values in parentheses

15

TABLE 6

BASE REGRESSIONS EXPLAINING FACULTY SALARY

Panel A: Using Raw Variables

Variables

Dependent Variable = SALARY (in $000)

Estimates Std. Err. t Stats p-Value Estimates Std. Err. t Stats p-Value

Intercept ***110.6588 7.4250 14.90 <0.0001 ***110.7191 7.4704 14.82 <0.0001

DUMCANADA ***18.2114 3.9351 4.63 <0.0001 ***18.2678 4.9741 3.67 0.0003

TIER1PUBS ***3.5533 0.6650 5.34 <0.0001 ***3.5452 0.6982 5.08 <0.0001

TIER2PUBS ***1.8865 0.5273 3.58 0.0004 ***1.7895 0.5764 3.10 0.0020

TIER3PUBS -0.0545 0.1789 -0.30 0.7606 0.0004 0.2306 0.00 0.9986

EXPERIENCE ***-3.9705 0.5591 -7.10 <0.0001 ***-3.9803 0.5608 -7.10 <0.0001

EXPERIENCE*EXPERIENCE ***0.0517 0.0123 4.22 <0.0001 ***0.0520 0.0123 4.23 <0.0001

SCHOOLRANK ***11.3911 3.2982 3.45 0.0006 ***11.4709 3.3233 3.45 0.0006

PHDRANK ***10.8952 3.2317 3.37 0.0008 ***10.8441 3.2802 3.31 0.0010

FACULTYRANK ***24.6750 1.5191 16.24 <0.0001 ***24.6456 1.5290 16.12 <0.0001

TIER1PUBS*DUMCANADA 0.4834 2.4994 0.19 0.8467

TIER2PUBS*DUMCANADA 0.4959 1.4444 0.34 0.7315

TIER3PUBS*DUMCANADA -0.1342 0.3527 -0.38 0.7037

Comparison of Coefficients Coefficient of TIER1PUBS > Coefficient of TIER2PUBS > Coefficient of TIER3PUBS


Adjusted R-Square 0.5788 0.5763

F Value 83.92 62.65

Probability > F <0.0001 <0.0001

16

TABLE 6 (Continued)

Panel B: Using Log-Transformed Variables

Variables

Dependent Variable = LOGSALARY


Intercept ***5.0039 0.0741 67.53 <0.0001 ***4.9975 0.0742 67.35 <0.0001

DUMCANADA ***0.1596 0.0333 4.79 <0.0001 ***0.2374 0.0562 4.23 <0.0001

LOGTIER1PUBS ***0.0805 0.0234 3.43 0.0006 ***0.0833 0.0256 3.25 0.0012

LOGTIER2PUBS ***0.0559 0.0210 2.66 0.0081 **0.0579 0.0237 2.45 0.0148

LOGTIER3PUBS -0.0215 0.0131 -1.64 0.1024 -0.0137 0.0147 -0.93 0.3519

LOGEXPR ***-0.2933 0.0242 -12.11 <0.0001 ***-0.2955 0.0243 -12.18 <0.0001

SCHOOLRANK 0.0445 0.0283 1.57 0.1160 *0.0471 0.0284 1.66 0.0984

PHDRANK ***0.0976 0.0274 3.56 0.0004 ***0.1057 0.0279 3.80 0.0002

FACULTYRANK ***0.2300 0.0137 16.83 <0.0001 ***0.2277 0.0137 16.59 <0.0001

LOGTIER1PUBS*DUMCANADA -0.0550 0.0661 -0.83 0.4055





F Value 89.30 65.38

Probability > F <0.0001 <0.0001





17

TABLE 7

COMPARATIVE REGRESSIONS ACROSS DIFFERENT REGIMES

Panel A: USA versus Canada (Dependent Variable = SALARY in $ 000)

Variables

USA Canada


Intercept ***123.7581 7.4365 16.64 <0.0001 ***94.7862 13.0784 7.25 <0.0001

TIER1PUBS ***3.3112 0.6504 5.09 <0.0001 ***4.9901 1.8084 2.76 0.0069

TIER2PUBS ***1.7451 0.5358 3.26 0.0012 *1.7056 0.9982 1.71 0.0906

TIER3PUBS 0.0893 0.2150 0.42 0.6780 -0.1301 0.2056 -0.63 0.5281

EXPERIENCE ***-5.6016 0.5561 -10.07 <0.0001 1.6142 1.0557 1.53 0.1294

EXPERIENCE*EXPERIENCE ***0.0740 0.0123 6.04 <0.0001 -0.0184 0.0228 -0.81 0.4211

SCHOOLRANK **6.9523 3.3970 2.05 0.0413

PHDRANK ***9.7322 3.5209 2.76 0.0060 **11.2932 4.8973 2.31 0.0232

FACULTYRANK ***29.0307 1.5686 18.51 <0.0001 ***6.9764 2.5476 2.74 0.0073




F Value 115.72 24.67

Probability > F <0.0001 <0.0001

18

TABLE 7 (Continued)

Panel B: Comparison across School Quality (Dependent Variable = SALARY in $ 000)

Variables

SCHOOLRANK=0 SCHOOLRANK=1


Intercept ***102.6250 9.4625 10.85 <0.0001 ***130.8716 8.5711 15.27 <0.0001

DUMCANADA **8.0643 3.3139 2.43 0.0158 ***56.3400 8.2415 6.84 <0.0001

TIER1PUBS ***5.6059 1.6049 3.49 0.0006 ***3.1469 0.7239 4.35 <0.0001

TIER2PUBS **2.9722 0.8483 3.50 0.0006 **1.5646 0.6234 2.51 0.0126

TIER3PUBS 0.2714 0.1952 1.39 0.1659 -0.1935 0.2660 -0.73 0.4675

EXPERIENCE -0.1909 0.7935 -0.24 0.8101 ***-5.3130 0.6633 -8.01 <0.0001

EXPERIENCE*EXPERIENCE 0.0079 0.0169 0.46 0.6433 ***0.0635 0.0150 4.24 <0.0001

PHDRANK **7.4708 3.3548 2.23 0.0271 7.2003 4.8441 1.49 0.1381

FACULTYRANK ***8.7057 1.8742 4.64 <0.0001 ***30.8690 1.9490 15.84 <0.0001




F Value 12.46 93.98

Probability > F <0.0001 <0.0001

19

TABLE 7 (Continued)

Panel C: Comparison across Quality of Ph.D. Programs (Dependent Variable = SALARY in $ 000)

Variables

PHDRANK=0 PHDRANK=1


Intercept ***86.7139 13.9596 6.21 <0.0001 ***125.1930 8.6551 14.46 <0.0001

DUMCANADA ***26.5458 5.7344 4.63 <0.0001 ***18.2291 5.6868 3.21 0.0015

TIER1PUBS ***6.5569 1.8128 3.62 0.0004 ***2.4462 0.6273 3.90 0.0001

TIER2PUBS **3.6068 1.4259 2.53 0.0124 ***1.8553 0.5737 3.23 0.0013

TIER3PUBS 0.4167 0.4872 0.86 0.3937 -0.0268 0.1947 -0.14 0.8908

EXPERIENCE **-2.5755 1.1188 -2.30 0.0227 ***-4.5634 0.6513 -7.01 <0.0001

EXPERIENCE*EXPERIENCE **0.0491 0.0237 2.07 0.0401 ***0.0554 0.0145 3.83 0.0001

SCHOOLRANK **15.6736 6.1114 2.56 0.0113 ***11.4984 3.9990 2.88 0.0043

FACULTYRANK ***18.9747 2.5805 7.35 <0.0001 ***27.5018 1.8344 14.99 <0.0001




F Value 12.46 93.98

Probability > F <0.0001 <0.0001





20

TABLE 8

COMPARISON OF TOP THREE JOURNALS

Variables

Dependent Variable = SALARY (in $000)

Estimates Std. Err. t Stats p-Value

Intercept ***108.0463 6.7064 16.11 <0.0001

DUMCANADA ***19.6583 3.5727 5.50 <0.0001

TAR ***4.7678 1.4252 3.35 0.0009

JAE *3.9836 2.1836 1.82 0.0687

JAR ***2.9143 1.0519 2.77 0.0058

TIER2PUBS ***1.5708 0.4827 3.25 0.0012

TIER3PUBS 0.0577 0.1604 0.36 0.7191

EXPERIENCE ***-4.1329 0.5088 -8.12 <0.0001

EXPERIENCE*EXPERIENCE ***0.0559 0.0111 5.02 <0.0001

SCHOOLRANK ***13.6449 3.0225 4.51 <0.0001

PHDRANK ***10.7285 2.9539 3.63 0.0003

FACULTYRANK ***25.0912 1.3895 18.06 <0.0001

Comparison of Coefficients Coefficient of TAR = Coefficient of JAE = Coefficient of JAR

Observations 627

Adjusted R-Square 0.6506

F Value 85.99

Probability > F <0.0001




* implies significance at 10% level (two-sided

21

TABLE 9

DETERMINANTS OF LONGEVITY

Variables

Dependent Variable = Probability (LONGEVITY)

Estimates Std. Err. Pseudo-t Stats p-Value

DUMCANADA 0.2821 0.2515 1.12 0.2625

SALARY ***-0.0060 0.0021 -2.89 0.0040

TOTALPUBS -0.0038 0.0081 -0.47 0.6352

EXPERIENCE ***-0.0666 0.0113 -5.89 <0.0001

LIVINGCOST -0.0131 0.0142 -0.92 0.3567

SCHOOLRANK *0.3811 0.2141 1.78 0.0757

PHDRANK -0.0874 0.2181 -0.40 0.6888

FACULTYRANK 0.1590 0.1329 1.20 0.2321

Observations 627

Pseudo R-Square 0.1124

Wald Chi-Square 51.4672

Prob > Chi-Square <0.0001





22

TABLE 10

DETERMINANTS OF PUBLICATION QUALITY

Variables

Dependent Variable = Probability(PUBQUALITY)

Estimates Std. Err. Pseudo-t Stats p-Value

DUMCANADA **-0.5652 0.2289 -2.47 0.0139

SALARY ***0.0080 0.0018 4.57 <0.0001

TOTALPUBS ***0.0642 0.0079 8.16 <0.0001

EXPERIENCE ***-0.0606 0.0097 -6.23 <0.0001

LIVINGCOST ***0.0415 0.0125 3.32 0.0010

SCHOOLRANK **0.4536 0.1899 2.39 0.0173

PHDRANK -0.2572 0.1858 -1.38 0.1669

FACULTYRANK ***0.5893 0.0967 6.09 <0.0001

Observations 627

Pseudo R-Square 0.4152

Wald Chi-Square 249.7474

Prob > Chi-Square <0.0001





23

FIGURE 1

ACCOUNTING FACULTY SALARY DISTRIBUTION

0%

5%

10%

15%

20%

25%

30%

35%

40%

$30,0

00

$80,0

00

$130,0

00

$180,0

00

$230,0

00

$280,0

00

$330,0

00

$380,0

00

ANNUAL FACULTY SALARY

NU

MB

ER

OF

FA

CU

LT

Y

.

24

FIGURE 2

PUBLICATIONS VERSUS ACCOUNTING FACULTY SALARY

0

2

4

6

8

10

12

14

16$30,0

00

$50,0

00

$70,0

00

$90,0

00

$110,0

00

$130,0

00

$150,0

00

$170,0

00

$190,0

00

$210,0

00

$230,0

00

$250,0

00

$270,0

00

$290,0

00

$310,0

00

ANNUAL FACULTY SALARY

NU

MB

ER

OF

TIE

R 1

& 2

PU

BL

ICA

TIO

NS

PE

R F

AC

UL

TY

.

25

FIGURE 3

PUBLICATIONS BY ACCOUNTING FACULTY RANK

0

2

4

6

8

10

12

14

16

18


PU

BL

ICA

TIO

NS

PE

R F

AC

ULT

Y

FACULTY RANK

TOTAL PUBLICATIONS TIER 1 & TIER 2 PUBLICATIONS

26

FIGURE 4

PUBLICATION QUALITY VERSUS ACCOUNTING FACULTY RANK

0%

10%

20%

30%

40%

50%

60%

70%


PE

RC

EN

TA

GE

OF

TIE

R1&

2 P

UB

LIC

AT

ION

S

.

FACULTY RANK

Date post:	19-Mar-2021
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