Intellectual Capital Reporting of Universities – A Third Mission Oriented Approach to Communication with Stakeholders

Abstract

Background. Universities worldwide have been called to (re)consider their role in society; to evaluate their mission and their interrelations with various stakeholders. At the same time they are going through transformation aiming to make them more autonomous, economically efficient and competitive. Both this reasons lead to the pressure on universities to prove their efficient resource management that may be realized via intellectual capital disclosure. Research aims. The objectives of this paper is to present the 'third mission' approach adoption of universities imposing on them the need for greater accountability, transparency and more effective communication that may be realized via IC reporting, the second is to review and discuss the qualitative and quantitative empirical research in IC reporting of universities worldwide. Methodology. The research method consisted in a critical literature and inductive reasoning. The resources theory, stakeholders' theory, legitimacy theory, and signaling theory as well as the New Public Management (NPM) and post-NPM concepts gave the foundation of this research. Key findings. The conclusions of the research confirm that the implementation of IC reporting in universities is still a challenge for practice. IC disclosure lags behind the needs of stakeholders and should be improved. Greater awareness and effective implementation of IC reporting in universities could improve their future potential, quality and competitiveness.

The Role of the Data Management Centre for Data Sustainability at Academic University for: Literature Review

“…It can improve learning, transform the university, increase organisational productivity and effectiveness, and help understand the institution's successes and challenges. The data-driven strategy for universities in decision-making envisions the adoption of analytics as a crucial tool for sustaining and improving competitiveness in the higher education sector (Fijałkowska et al, 2018). In today's digital era, universities are faced with the challenge of managing and utilising vast amounts of data to support their academic mission.…”

A Conceptual Model Proposal: Universities as Culture Change Agents for Sustainable Development

“…Universities are important culture change agents fostering SD that can be exemplified through the relationship between the business and the society. This engagement is frequently called "third mission of the university" and consists of working towards the improvement of people's lives and solving global problems [133,134]. The development of universities' third mission (i.e., regional development and social engagement) requires stakeholder participation, which is crucial for organizational change towards SD [135].…”