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ANALYSIS OF THE CORRELATION BETWEEN RENTABILITY AND RISK INDICATORS IN PUBLIC INSTITUTIONS OF ACADEMIC EDUCATION – CASE OF THE UNIVERSITY OF CRAIOVA
Abstract
At present, Romanian academic education financing is at a crossroad. The effects of the regulatory changes occurred in 2011 with the adoption of the new National Education Law, as approach of harmonization with the European standards in the area, are still strongly felt. Even though significant progress has been made towards permanent modernizing budgetary resource allocation methodology for education, the percentage of GDP distributions to support this priority area is below the minimum of 6\% provided by the applicable law. Therefore, Romanian public institutions of academic education are currently facing a strong budgetary pressure caused by the chronic underfunding phenomenon, both as a result of lower allocations from the state budget, as well as a result of the decreasing number of students paying tuition fees. In this context, in the present paper we aim to highlight the evolution of indicators of profitability and risk, through an applied research carried out on the example of the University of Craiova as public institution of academic education. We will also analyze the correlation between these indicators using the statistical program SPSS. The analyzed interval covers the period 2009-2013 and has as center of gravity the year 2011 as a significant moment through the adoption of the new National Education Law. The investigative approach is based on the accounting and financial information disseminated by the university analyzed through the annual summary reports.
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