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<p>I will have to disagree with your statement that having amazing professors will not help a university’s reputation very much. Distinguished professors are arguably the most important asset of a university. Harvard professors are much superior to most other university. Harvard leads nearly university in citations per faculty.
[QS</a> World University Rankings - Topuniversities](<a href=“http://www.topuniversities.com/university-rankings/world-university-rankings/2012/indicator-rankings/citations-per-faculty]QS”>http://www.topuniversities.com/university-rankings/world-university-rankings/2012/indicator-rankings/citations-per-faculty)</p>
<p>For example, nearly every business schools uses Harvard’s cases. It’s publishing sales for 2010 was $135 million or 29% of the department’s revenue. [Supplemental</a> Information - Financials - Annual Report 2010 - Harvard Business School](<a href=“http://www.hbs.edu/about/annualreport/2010/financials/supplemental-information/]Supplemental”>http://www.hbs.edu/about/annualreport/2010/financials/supplemental-information/) </p>
<p>Amazing faculty draws researching funding/grants, attracts the best the brightest students, generates revenue for the school, and wins prestigious prizes. All of which helps to increase their university reputation.</p>