The Research On The Capitalization Of School Quality Based On Matching Regression

"Wishing that their sons would become dragons and their daughters would change into phoenixes",the idea prompted parents to pay more attention to children's education.In the field of basic education,the uneven distribution of educational resources led to a large difference in school quality,the policy that children must have access to the class according to the region where their census are registered prompted parents to seek to the prestigious school district converted house,the behavior of choosing school by buying a house increased the school district housing premium becomes a common phenomenon.From the perspective of the relationship between educational resource allocation and house price,we can explore the spillover effect of school district housing.In theory,it can test and enrich the research method of district premium,and provide new microcosmic evidence.In practice,it helps guide households to buy a housing rationally.It also helps the government to strengthen the relevant policy guidance and promote the equalization of basic education resources to provide more reference factors.Based on the microcosmic transaction data of the 33 primary schools around main cities of Nanjing,drawing on the boundary fixed effect method,this paper sets the school district and the non-school district as the experiment group and the control group,and introduces the rent variable to avoid the sorting effect,finally,we get 146 samples of "cell pair".In the empirical aspect,firstly,based on the function price model,we take price and rent as the explanatory variables,take all the samples by the robust least squares.The result shows that whether price or rent as the explanatory variable,the fitting degree and significance of semi-logarithmic form is the best.In this case,we get the key school will bring a premium of 14.74% to the surrounding second-hand housing.Secondly,from the point of view of differential regression method and the regression analysis,we find that the semi-logarithmic function form is still the most effective if rent is the explanatory variable,but for the price,logarithmic function form is more effective.In this case,we get the key school will bring a premium of 14.12% to the surrounding second-hand housing,lower than the direct return of characteristic prices.It indicates that the omission of variable problems will make the school quality premium be overestimated.Thirdly,by the regression of the samples from different grades of primary schools,we found that the provincial and non-provincial school district housing premium were 18.69% and 10.81% respectively,which indicated that the school grade had a great impact on the premium level of the school districts.This paper provides new evidence to the basic education resources' capitalization.We believe that under the present educational system,the government should devote to formulate a reasonable distribution mechanism of educational resources,enhance the competitive strength of weak schools,improves the situation of supply and demand mismatch of public resources.Schools should introduce competition mechanism,optimizing the internal resource allocation.Parents should take all things in consideration when choosing a school,rather than just take the school district as a chip for accepting the outstanding educational resources.