A public choice analysis of bond referenda and capital outlays of texas school districts

Bibliographic Data

ID20201638
AuthorsCarolyn A Strand (Seattle Pacific University), Gary Giroux (Texas A&M University), Jerry Thorne (North Carolina A&T University)
Year1999
Volume11
Issue4
Pages509-532
Publication date1999-03-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueJournal of Public Budgeting Accounting & Financial Management (JOURNAL)
Journal identifiersISSN: 1096-3367 • E-ISSN: 1945-1814
PublisherEmerald (PUBLISHER)
DOI10.1108/jpbafm-11-04-1999-b001
OpenAlexW2774598663
LanguageEN
Citations received1
References cited17

There were 398 bond referenda by Texas school districts from 1990-95. On average, these received a 58% voter approval rating and almost 75% of the referenda passed. A public choice model suggests many factors related to the voter percentage, including the amount of the bond issue per voter, percent of non-white population, and the amount of state and federal aid in the districts. Districts with Big Six auditors received higher voter percentages ceteris paribus, suggesting increased voter confidence in districts reviewed by brand name auditors. Districts with higher standardized test scores (TAAS) had more favorable votes, which can be interpreted that voters are willing to fund more infrastructure when output performance levels are adequate. A public choice model focusing on capital outlays was successful in explaining spending levels. A Big Six audit was associated with higher capital outlays, although TAAS was insignificant

Actuarial science · Audit · Bond · Business · Ceteris paribus · Demographic economics · Economics · Geography · Microeconomics · Population · Public economics · Sociology · Auditing, Earnings Management, Governance · Corporate Taxation and Avoidance · Demography · Local Government Finance and Decentralization · Accounting · Finance

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