International Comparative Study about the Effectiveness of Procurement of Educational Resources Employing the Private Finance

2006 Fiscal Year Final Research Report Summary

• Project/Area Number: 16330152
• Research Category: Grant-in-Aid for Scientific Research (B)
• Allocation Type: Single-year Grants
• Section: 一般
• Research Field: Educaion
• Research Institution: Kyoto University
• Principal Investigator: TAKAMI Shigeru Kyoto University, Graduate School of Education, Professor, 大学院教育学研究科, 教授 (60206878)
• Co-Investigator(Kenkyū-buntansha): KANEKO Tsutomu Kyoto University, Graduate School of Education, Associate Professor, 大学院教育学研究科, 助教授 (40263743) ; KOMATSU Ikuo National Institute for Educational Policy and Research of Japan, Dept.for Educational Policy and Evaluation, Director, 教育政策・評価研究部, 部長 (10130296)
• Project Period (FY): 2004 – 2006
• Keywords: CSR / SRI / PFI / rating / donation / school fund / local government bond / project finance

Research Abstract

In this study, we have researched for the means for ensuring the educational resources from the private finance. It includes the support from private companies through CSR procedure, the donation to schools or universities, project finance for school construction, fund raising and asset management, and local government bond.
We discovered through our questionnaire to one thousand private companies about a way of thinking to CSR that they had little interest in contribution to education through CSR yet. So in Japan, it is not expected the educational resources can be ensured from the prosperous relations between CSR and SRI. We also researched about the method to apply PFI to British higher educational institutions, and securitized investment credit of funds of private financial institution through diversification of risks. It was revealed that the rating is concerned as important procedure. By rating acquisition, there is a case that educational institutions can secure funds more profit ably than bank loan.
In American higher educational institutions, they put emphasis on donation as utilization method of private fund. There are some cases that special organization was established for fund rasing and asset management to acquire independent educational funds. We investigated about the mechanism for acquisition of independent funds at primary and secondary schools, and found out that there were various scales and types of school funds. The educational enterprise such as EMO retrenched expenditure with the cost restraint
Local governments in Japan face with the financial crisis because of the restraint pressure of long outstanding obligation and the reduction in state opened money market that subscribe for local bond issue. They had the interest in a new financial strategies for maintenance of educational facilities, but the negative posture was also observed for the residents burden by tax increase. So the method supplying educational funds from private funds was introduced through PFI and publicly issued bond which intended the citizens to be bond holders (mini publicly issued bond). A mini publicly issued bond has began to be introduced into school reconstruction and new school building maintenance.