Abstract
The aim of this paper is to develop a theory-based typology of Higher Education Institutions (HEIs) based on three dimensions of differentiation, i.e. their activity profile (education vs. research), the subject scope (generalist vs. specialist) and regulatory characteristics which constrain previous two. We examine the financial environment of HEIs as a possible selection mechanism. Particular attention is devoted to the identification of European Research Universities By testing this typology on a large sample of European HEIs, we show systematic differences between types in their activity profile and in the level of funding, therefore providing evidence that types are associated with different market positioning. We identify a small group of research universities, characterized by a high level of research volume and intensity and by a volume of funding far higher than all other HEIs in the sample, suggesting that their emergence is critically linked to the concentration of resources.