"Expenditure on the education system plays a significant role in the economy of the public system. In the accounting of educational institutions, special emphasis is placed on the budgeting process, in which the revenues and expenditures of the entities are found. Despite a large amount of research, specialists do not agree on the role the level of funding plays in the education system and its effect on the results of the final beneficiaries of the system. In this research we tried to observe how the level of funding or average costs per pupil in European education systems influences the results of students in standardized tests. Making an estimate with the help of the linear regression model by the method of the least squares of the correlation between these two variables, we found that there was a positive correlation between them; not exceptionally strong but not negligible either."
The impact of the Covid-19 pandemic was felt around all industries and sectors of the economy. Some studies identify education as part of the direct hit sectors by the pandemic. While online learning and other forms of virtual learning innovations were introduced, the absence of students from campuses had a significant financial impact on schools.
Research Question: Is there a link between the investment in human capital, measured by the average gross salary in the pre-university education system and the student-teacher ratio together with the results obtained by students in tests? Motivation: In any society, the work done by man to obtain results is always present. Human capital in the economic and accounting context cannot be dissociated from its cost, and in the public system, it acquires an even greater influence. The role of human capital and implicitly its cost in the public expenditure system represents the largest part, and its significance is accentuated in education. Idea: The authors of this paper tried to see if investing in human capital has positive consequences on the outcome of the pre-university education system. Data: Research data were collected from the OECD (Organization for Economic Co-operation and Development) website Tools: The research was performed by quantitative methods using the least squares regression equation. The hypotheses tested by the authors were the existence of a relevant positive or negative correlation between the indicators presented. Findings: Following the analysis, found that there was a positive correlation between the salary level indicators and the average score obtained in tests, and a negative correlation between the number of students per teacher and test results. Contribution: This paper contributes to research in the field on the effects of decisions regarding funding and pay policy for pre-university education using the results obtained by students in standardized tests. Therefore, this research is part of a larger research project that shows that the level of funding is correlated with the results of students measured by tests in pre-university education.
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