Scientific Center of Innovative Researches, International Conference on Corporation Management-2022

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TOOLS FOR ENSURING FINANCIAL STABILITY IN THE CORPORATE MODEL OF UNIVERSITY GOVERNANCE
Liudmyla Yurchyshena


Abstract


The corporate model of university management requires a change in approaches to management decisions by university management. These decisions should ensure the strategic development of the university, form a corporate culture and principles of all members of the academic community. The university management should not only organize the quality of the educational process, but also ensure the formation and diversification of revenues, reduce dependence on budget funding, and thus ensure financial stability in the short and long term. All this determines the relevance of the research topic. The purpose of the study is to identify tools to ensure the financial stability of universities according to the model of corporate governance. The object of research is the process of identifying tools to ensure the financial stability of universities. The research used the method of synthesis to determine the tools for financial stability, a systematic method of logical integration of tools into a single whole. The theoretical basis of the study is formed based on the results of doctoral research. According to the results of the study, the following tools for ensuring financial stability are identified: ranking positions, internationalization, economic model, value proposition, professionalism of university management, strategy and leadership. The effectiveness of the instruments is determined by the complex interaction of each of them to ensure the financial stability of the university.


Keywords


financial stability; university; corporate governance model

References


  1. The Verkhovna Rada of Ukraine (2020), The Law of Ukraine “About higher education”, available at: https://cutt.ly/ksZOEHK.
  2. Halloran, L., & Friday, C. (2018). Can the Universities of Today Lead Learning for Tomorrow? The University of the Future, available at: https://cdn.ey.com/echannel/au/en/industries/ government---public-sector/ey-university-of-the-future-2030/EY-university-of-the-future-2030.pdf.
  3. Yurchyshena, L., Laktionova, O., & Matviychuk, V. (2021). Income and financial stability of university: sectoral aproach. Financial and Credit Activity: Problems of Theory and Practice. 2021. 5 (40). Р. 204-215. Doi: 10.18371/fcaptp.v5i40.244985.