Global Journal of Management and Business Research, B: Economics and Commerce, Volume 22 Issue 4

8 Global Journal of Management and Business Research Volume XXII Issue IV Version I Year 2022 ( ) B © 2022 Global Journals Racial and Community Wealth Disparity the Bane of HBCUs: A Wealth Ecology Model Relational Perspective direction relational relationship between AA Wealth status � , and the outcome Ŷ , AA HBCU enrollment in Eq. (03). � = 198122.372 + 1953.388 ∗ � −1 …… Eq. 3 Eq. (03) shows that AA enrollment in HBCUs denoted by Ŷ at year i is dependent upon the prior year’s ( i-1 ) African American student’s median household wealth, denoted by � . For the second hypothesis H b , the association effects with the major categories of wealth accumulation are studied. The main categories selected include Income, Assets, Debts and Loans as shown in Appendix A, Table A.4. The results of the correlation analysis is shown in Table 04 below. All the categories of wealth, except Loans, seem to show significant relationship with AA HBCU enrollment, r>.791 (95%, p<.05). No significance with Loans, p>.05. Table 4: Correlation between AA enrollment and wealth categories The results of regression analysis between AA HBCU enrollment and the significant correlated wealth categories as independent variables are the shown in Table 05 below. The model establishes only significance of Assets and Income as antecedents explaining 84.4% of the variation in AA HBCU enrollment, r=.919, p<.05.However, the change due to the additional effect of Income of 13.0% is significant, p<.05. Table 5: Wealth categories regression result Now, considering the decomposed constituent elements of these categories, as shown in Table A.5 in appendix A, the decomposed constituents correlation test is shown in Table C.2 in appendix C. From the preliminary results, AA median household income (Med_Inc), credit card debt (CCdt), homeownership (HOsh), Stockholdings (Stockh), and business ownership (Buseq) are found to have statistically significant association, r≠0 (p<.05,CI 95%), with AA HBCU enrollment (AAenrl). The preliminary correlation indicates some order of association strength between the independent variables and AAenrl. To establish a dependency relationship between the variables, the order determined under the correlation analysis is used to perform a stepwise regression modeling of the five variables with the dependent variable. This approach enables the cumulative strength effects of each antecedent variable to be appraised. The model result is shown in Table 06 below.