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

10 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 Table 9: Wealth elements combination regression coefficients Table 10: Wealth decomposed elements regression coefficients The resulting significant model with coefficients in Table 10 above leads to the following regression prediction equation. By inputting the coefficients from Table 10 in Eq. (02) gives the relationship between credit card debt (CCdt) and AA HBCU enrolment (AAEnrl) as Eq.(04): 1 = 175034.649 + 36008.377 ∗ 0 .. Eq. 4 Thus, higher credit card debt seems to have a higher and most effective signaling effect on the perception of family wealth than all the other wealth indication elements. Thereby, having a higher and most effective signaling effect on the perception of AA family wealth than all other wealth indication elements. V. D iscussion The results from the descriptive statistics confirmed the widely held and validated view that African Americans generally hold the lowest wealth of all races and earns less for the same dimensions of wealth (Herring & Henderson, 2016; Brimmer, 1988)). Maybe, that influences their behavioral intentions of post- secondary education school choice. The correlation test provides the expected relationship between the African American students’ HBCU school choice as measured by enrollment and wealth as measured by the median household wealth. This seems to suggest that the research question is satisfied. However, there is the need to identify the direction of change effects between the variables per the hypothesis H a . From the test of dependency analysis, there is 95% confidence that the national wealth level changes do not have any statistically significant effect on AA HBCU enrollment patterns unless there is a corresponding correlated positive change in African American student wealth as a moderating effect. This is an important result to differentiate what happens nationally and within local African American communities. This shows the extent the national wealth trend may have on the African American student HBCU enrollment patterns as inconsequential. The relationship established from the regression Eq. (03) based on analysis of the regression coefficients shows a positive correlational relationship between school choice and African American student wealth status. The positive relationship as determined by β 1 =1953.388, t>2.6, p<.05, 95% CI, implies the null hypothesis H a0 cannot be rejected. The alternate hypothesis H a1 is rejected. The result does not answer the research question of whether a decrease in HBCU student wealth status using the median household wealth as proxy increases their behavioral intentional choice of HBCU attendance using annual fall enrollment. In respect of hypothesis H b , correlation is established between wealth indication elements of income, credit card debt, homeownership, Stockholdings, and business ownership with student enrollment. However, from the dependency test, only credit card debt had any significant explanatory effect, R 2 =78.1%, p<.001(CI95%) of the changes in African American HBCU student enrollment. Also, the correlation with wealth categories yielded Assets and Income as the significant signaling categories of wealth with 84.4% change effect. Based on the size effect, the null hypothesis H b0 is rejected since there is at least one wealth category (Assets, Income) or wealth element (credit card debt as