The importance that is placed on graduation rates as a measure of the success of institutions of higher education warrant the ongoing research into understanding the determinants of these educational outcomes. This study examines the role of institutional factors in determining graduation rates at doctoral universities. While controlling for student characteristics, we find that institutional characteristics are an important determinant of four-, five-, and six-year graduation rates. Student-faculty ratios, percentage of faculty that are full time, total expenditures and tuition and fees all play a significant role in explaining graduation rates at the universities in our sample.
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