allow me to introduce myself—my name is Karen Morrison and I’m a second-year
undergraduate student at the College of William and Mary with a double major in
Process Management & Consulting and Anthropology. As part of my summer
internship here at GBSN, I have been reviewing the available research on the
impact of management education, a question that hits the heart of what we do.
The short answer is
that there is no single study that points to the individual and social impacts
of higher education in general, much less management education in particular.
Up until now, the best research has focused on laying the groundwork for more
What are the
general findings so far?
Most, if not all,
studies also seem to be in agreement that MBA programs are especially good at
imparting value to their graduates, whether value is defined as relevant
knowledge and skills, employability, higher job satisfaction, higher income, or
any of a number of other ways. There is less research on how or if MBA programs
produce social value in any way besides increasing the value of the human
capital in the workforce in that area.
methodologies seem to show the most promise for future research?
The question of the
impact of management education is crying out for a longitudinal study that
tracks MBA students versus a matched control group. However, such a
longitudinal study may not be feasible. The few econometric studies that exist
show a great deal of promise for broader application. A prime example is
Gyimah-Brempong et al.’s (2006) study, which rigorously applies econometric
analysis to the relationship between higher education and the growth rate of
per capita income in Africa. This methodology could be applied to management
education specifically and tested in regions outside Africa.
GBSN go from here?
Our next step is
gathering more information. If you know of any studies related to the impact of
management education that you would like to pass on, please contact me at email@example.com
or Nora Brown at firstname.lastname@example.org. We are also
interested in any alumni tracking surveys that individual institutions may
meantime, here are some of the most interesting studies I’ve found so far.
Higher Education and Social Change –John Brennan (2008)
This study has a
great framework for future research to be conducted in:
implications for higher education of these changing social constructs
mechanisms of interaction between higher education and society
education’s impact on society
Measuring Value in MBA Programs—Cengiz
Haksever, Yuki Muragishi (1998)
This is one study to
read in full, both for the methodology and the interesting results.
the efficiency of value-adding process in MBA programs, comparing the top
that MBA programs are among the most efficient of higher education
programs (unsupported in this study)
that in terms of efficiency, Businessweek’s top 20 MBA programs are
comparable to programs ranked 20-40
Effects of an MBA and Socioeconomic Origins on Business School
Graduates’ Salaries—Jeffrey Pfeffer (1977)
conjecture that part of the value of MBA programs is how they mitigate the
tendency of socioeconomic origins to restrict eventual earnings
at the alumni of a single large, prestigious university
significant effect of MBA on starting but not current salary
significant effect of student’s socioeconomic background on current salary
but not starting salary.
effect was lessened for the MBA grads
Higher Education and Economic Growth in Africa—Kwabena
Gyimah-Brempong, Oliver Paddison, Workie Mitiku (2006)
Uses panel data over
the 1960–2000 period, a modified neoclassical growth equation, and a dynamic
panel estimator to investigate the effect of higher education human capital on
economic growth in African countries.
that all levels of education human capital, including higher education
human capital, have positive and statistically significant effect on the
growth rate of per capita income in African counties.
the growth elasticity of higher education human capital to be about 0.09,
an estimate that is twice as large as the growth impact of physical