Cost Drivers and Their Influence on Student Fee Structures in AICTE-Approved Private Autonomous Management Institutions in India

Engineering notes

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Chinese explanation / 中文解读

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Original abstract

Over the last three decades, management education in India has grown at a tremendous pace with the private autonomous institutes playing a pivotal role in delivering post-graduate management education.These institutions are largely self-financed, and the fees students pay are their main source of income; therefore, the underlying cost structure is a key factor in determining cost and access.The purpose of this study is to identify the key cost drivers in the management education in the AICTE approved private autonomous institutions and evaluate their impact on fee structure of management education.The design was quantitative and descriptive analytical, the sample size was 295 institutions from five regions of India and secondary data was obtained from AICTE, NAAC, NBA, and state fee-regulatory sources.Descriptive statistics, one-way ANOVA, Pearson correlation and multiple linear regression were used to test the hypotheses.The results show that the highest cost item is personnel (average 41.8% of total cost), followed by infrastructure and technology costs.A regression analysis demonstrated that both costs of personnel and infrastructure and technology accounted for 68.4% of the variance in student fees (R² = 0.684, p<0.001); the cost of personnel was the strongest predictor.As might be expected, there were considerable variations in fees among institutional levels, and a larger number of students per institution was associated with a lower per-student fee, thus supporting economies of scale.The study provides empirical evidence to the economics of management education and implications for fee regulation, cost management of institutions, and education affordability.

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