Faculty salary at Korean universities: Does publication Matter?
This paper investigates empirically the role of research publications in an academic reward structure in Korea. Our sample includes 145 universities and colleges in Korea. Publication data for the academic year of 2012 show that top-tier research schools published more in international journals, while domestic journal publications were dominated by second-tier universities. The salary effects were identified using multiple regression models. We found that changes in faculty salary were determined significantly by international journal publications, but domestic journal publications had little effect on changes in salary. The use of an instrumental variable reconfirmed that the causal effect of international journal publications on a salary rise was positive and significant.
KeywordsFaculty salary Research publication Higher education
The authors are grateful to Jean-heon Hong, Do-young Kim, and Jun-soo Park for the collection of a data set, and to Lawrence Jin, Olivia Jin, Jong-gun Kim and other seminar participants at the 2015 Midwest Economics Association Meeting for helpful comments. This research was supported by a grant from National Research Foundation of Korea Grant funded by the Korean government for the second author (NRF-2013S1A3A2054928).
- Altbach, Philip G., Liz Reisberg, and Laura E. Rumbley (2009). Trends in global higher education: Tracking an academic revolution. A Report Prepared for the UNESCO 2009 World Conference on Higher Education.Google Scholar
- Bett, Sir Michael. (1999). Independent review of higher education pay and conditions. London: The Stationary Office.Google Scholar
- Higher Education in Korea (2012). Major Indicators Search. http://heik.academyinfo.go.kr:9000/competitiveness/indicators_main.tw.
- Katz, David A. (1973). Faculty salaries, promotion, and productivity at a large university. American Economic Review, 63(3), 469–477.Google Scholar
- Merton, Robert K. (1973). The sociology of science: Theoretical and empirical investigations. Chicago: Univ. Chicago Press.Google Scholar
- Moore, William J., Newman, Robert J., & Terrell, Dek. (2007). Academic pay in the United Kingdom and the United States: The differential return to productivity and the lifetime earnings gap. Southern Economic Journal, 73(3), 717–732.Google Scholar
- National Assembly Library of the Republic of Korea (2012). The List of Professors’ Salary in 2012 (in Korean).Google Scholar
- Pindyck, R. S., & Rubinfeld, D. L. (1998). Econometric models and economic forecasts. New York: McGraw-Hill.Google Scholar
- Ranking Web of Universities. (2012). Republic of Korea, Survey Conducted by CSIC in Spain. http://www.webometrics.info/en/Asia/Republic%20Of%20Korea.
- Siegfried, John J., & White, Kenneth J. (1973). Financial rewards to research and teaching: A case study of academic economists. American Economic Review, 63(2), 309–315.Google Scholar
- Tuckman, Howard P. (1976). Publication, teaching, and the academic reward structure. Lexington: Heath.Google Scholar