高等教育經費占我國政府支出，瞭解此一花費是否能有助於大學校院畢業生之就業與薪資實乃重要課題。本論文利用教學卓越計畫作為一自然實驗，建構教學支出之外生工具變數。本論文藉由串連大學校院之財報數據以及稅務行政資料，檢驗教學支出對大學校院畢業生之就業與薪資之影響。
研究結果發現，教學支出對畢業生就業市場表現之影響微乎其微。教育經費的投入，對畢業生的薪資與就業均不產生影響。教育資源的效果僅體現在幫助畢業生脫離低薪與貧窮的處境。整體而言，每增加10萬元的教學支出，畢業生平均每月薪資超過中位數的可能性，將提高2.83個百分點。對於來自經濟弱勢家庭的學生而言，每增加10萬元的教學支出，畢業生年總薪資超過中位數的可能性，將提高3.62個百分點。教學資源對對經濟弱勢學生的效果，是對來自相對富裕家庭學生的5.25倍。本論文的發現點出教育資源的投入或許無法廣泛地對所有學生產生正面助益，但卻能夠幫助社會中最底層的族群。

Given the considerable amount of money spent on higher education, understanding the effects of educational investment on graduates’ future achievement is important. This thesis uses the Teaching Excellence Project as a natural experiment to generate an exogenous variation in instructional expenditure. By linking the data on higher education institutions’ expenditure as well as taxation administrative records of individual income, this thesis investigates the effects of instructional expenditure on college graduates’ employment and earnings.
The result suggests that the effect of instructional expenditure on students’ labor market outcomes is weak. No evidence supports the expenditure effect on graduates’ earnings and employment. The educational resources effect only appears in helping individuals get rid of low income. For all graduates, increasing per-graduate instructional expenditure by 100 thousand leads to 2.83 percentage points increases in the probability of reaching the median of monthly earnings. For graduates from economically disadvantaged families, increasing per-graduate instructional expenditure by 100 thousand leads to 3.62 percentage points increases in the probability of reaching the median of annual earnings. The magnitude of effect size for disadvantaged students is 5.25 times greater than rich students. These findings imply that educational investment in higher education does not have extensively effect on all students but does benefit the underprivileged in society.

Chapter 1 Introduction 1
1.1. Research Background and Motivation 1
1.2. Research Purposes and Questions 3
1.3. Significance of the Research 4
Chapter 2 Literature Review 6
2.1. The Relationship between Education Inputs and Student Outcomes 6
2.1.1. The Education Production Function 6
2.1.2. Measurement of Student Outcomes 8
2.1.3. Measurement of School Resources 10
2.1.4. Effects of Instructional Expenditure on Labor Market Outcomes 13
2.2. The Relationship between Government Funding and Instructional Spending 15
2.2.1. The Crowd-out Effect 15
2.2.2. The Flypaper Effect 16
Chapter 3 Policy Background 17
3.1. Higher Education in Taiwan 17
3.1.1. Background and Development 17
3.1.2. Revenue and Funding of HEIs 20
3.1.3. Expenditure of HEIs 22
3.2. Plan to Encourage Teaching Excellence in Universities 23
3.2.1. Funding Allocation and Regulation 24
3.2.2. Project Performance and Effect 27
Chapter 4 Research Design 29
4.1. Empirical Design 29
4.2. Sample 32
4.3. Data and Descriptive Statistics 36
Chapter 5 Research Results 42
5.1. First Stage 42
5.2. Labor Market Outcomes 45
5.2.1. Annual Earnings 46
5.2.2. Monthly Earnings 48
5.2.3. Probability of Getting High Earnings 50
5.2.4. Employment Intensity 54
5.3. Subgroup Analysis 57
5.3.1. Family Background 57
5.3.2. Students from Different Fields of Study 61
Chapter 6 Discussion and Conclusion 63
6.1. Research Findings 63
6.2. Limitations of the Study 66
6.3. Recommendations for Future Studies and Polices 69
Reference 73
Appendix 80

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