REMODELLING UNIVERSITY GOVERNANCE IN PUBLIC UNIVERSITIES TO RESPOND TO THE DUAL CHALLENGES OF ACADEMIC RESEARCH AND COMMERCIALIZATION

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Abstract

Using an in-depth case study, this paper examines how the governance of a public university responds to the dual challenges of academic research and commercialization. Our findings indicate that the stakeholder model of institutional governance for academic research strongly underpinned by new public management ideologies conflicted with the research commercialization mission dominated by a profit seeking objective. To be governed responsibly, commercialization requires some degree of corporatization, and the corporate governance model seems to offer many advantages to public universities. The study demonstrated that the best way forward for public universities may be to adopt „dual‟ stakeholder and corporate governance models and utilize complementary and collaborative governance strategies to meet the challenges of academic research development and commercialization.

Keywords: Academic Research, Commercialization, Corporate Governance, Public University, Stakeholder Model

How to cite this paper: Narayan, A. K., Olesen, K., & Ramachandra, S. (2012). Remodelling university governance in public universities to respond to the dual challenges of academic research and commercialization. Corporate Ownership & Control, 10(1-6), 597-606. https://doi.org/10.22495/cocv10i1c6art4