Società Italiana di Diritto ed Economia, SIDE - ISLE 2015 - 11TH ANNUAL CONFERENCE

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A Model for the Governance of University
Magalì Fia, Virginia Cecchini Manara, Lorenzo Sacconi

Last modified: 2015-12-15


In order to explain why we observe a peculiar governance system for Academia and why universities are not governed like firms, we provide an economic model that gives a parallel explanation to the one already pointed out in terms of political system theory (Masten, 2006, 2013). We argue that the considerations driving the allocation of decision rights in complex business environments (and in particular where knowledge is dispersed), as well as the core concepts of transaction costs economics and its developments can be worthy applied to the academic context; moreover, we highlight the importance of interdependencies in shaping the internal organization of academic institutions where central governing units coexist with a set of autonomous departments.

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