While the extant literature related to firm financial performance and chief officer turnover is extensive in the for-profit literature, less is known about this relationship in the nonprofit setting, particularly universities. Further, the moderating role of corporate governance on performance -- turnover sensitivity has not been studied in the…

With the decrease in enrollment and increase in cost over the past decade, private colleges and universities have experienced financial hurdles, requiring the need to raise private funds. The financial viability of these colleges and universities depends upon the ability of university presidents to raise money. However, challenges must be overcome…

Despite the importance of trustees for higher education institutions, few studies address how they influence the institutions they steward. To address this gap, we used a social network approach within a comparative case study design to evaluate how trustees interacted with two private, elite universities: Harvard University and the Massachusetts…

The Association of Governing Boards of Universities and Colleges (AGB) is pleased to share this sixth publication in a series of informational briefings developed as part of The Guardians Initiative: Reclaiming the Public Trust, an effort to educate and engage trustees as advocates on key issues in higher education. Institutional endowments are…

Trustees span the boundaries between universities and their environments, and therefore may connect universities to other organizations. We use social networks and latent profile analyses to chart changes in the affiliations that trustees of AAU member universities maintained with other organizations from 1975 through 2015. Results identify a…

This study aimed to discover how trust is established during the decision-making processes of boards of trustees at private historically Black colleges and universities (HBCUs). This study also aimed to address if and how board composition and individual board members' value systems play a role in the decision-making process and work of the board.…

Postsecondary education in the United States is provided by public, not-for-profit and for-profit institutions. Public and not-for-profit institutions are expected to serve the public good due to state control or chartering requirements; for-profit institutions are not. Therefore, the decision to serve the public good is vested in the board. The…

New waves of change are upon American colleges and universities. Among other things, shifts in student demographics, federal higher education policy changes, and the continuing rise of new education providers are putting pressure on institutions to adapt in order to ensure their effectiveness and, in some cases, survival. The imperative to adapt…

We examined the potential for institutional conflict of interest between the 26 private universities belonging to the Association of American Universities and the corporations to which they are tied through their boards of trustees. We were interested in the degree to which interlocks may have tightened over three points across an 11-year period…

It is easy to see why a college might want a big board. It is simpler to add trustees than to remove members who are no longer pulling their weight, and growth can be justified as an effort to broaden the diversity of opinions in a group. It is also true that there may be no better way to cultivate donors than to give them active policy-making…

"The 2014 AGB Survey of Higher Education Governance" is the fourth in AGB's studies of college and university governance. This report, based on survey responses from 592 public and independent boards, addresses a range of important governance topics that are receiving attention from boards and the news media, including presidential…

Last August, the U.S. Department of Education disclosed that 149 nonprofit private colleges and universities had failed its "financial-responsibility test" for fiscal year 2008-2009. This article explains what the financial-responsibility test is and how it is used, explores what the implications might be for colleges and universities,…

In a time of transformation in higher education, "Leading Change: How Boards and Presidents Build Exceptional Institutions" fills a significant void in leadership literature and focuses on the changing level of board engagement. This book examines 18 institutions, across the spectrum of higher education, at which the board played a…

This dissertation was a qualitative research study regarding two small private universities and their process of transformation from an institution headed toward closure to a successful turnaround. The primary questions that guided the study included the factors and persons that contributed to the institutional turnaround, the issues and…

Few colleges choose to close. One that did was Saint Mary's College in Raleigh, North Carolina. Although trustees resisted for a decade, they ultimately made the decision before an anticipated denial of accreditation, allowing the college to control its final days in ways not possible for those who wait until an outside agency forces closure. This…