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University Governance and Academic Tenure: A Property Rights Explanation

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  • Willam O. Brown

Abstract

This paper provides an efficiency-based explanation for several features of university governance including academic tenure. In this model, tenure is part of a broader system of organizational governance where the non-profit status of the university requires faculty members to evaluate and monitor both university administrators and trustees. The nature of the employment contract provides the incentives for the faculty to behave as residual claimants. Tenure is necessary for faculty to be willing to assume the roles normally associated with ownership without fear or reprisal from trustees and administrators.

Suggested Citation

  • Willam O. Brown, 1997. "University Governance and Academic Tenure: A Property Rights Explanation," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 153(3), pages 441-441, September.
    • Handle: RePEc:mhr:jinste:urn:sici:0932-4569(199709)153:3_441:ugaata_2.0.tx_2-z
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    Citations

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    Cited by:

    1. Egon Franck & Torsten Pudack & Christian Opitz, 2001. "Zur Funktion von Topmanagement-Beratungen als Karrieresprungsbrett für High Potentials," Working Papers 0003, University of Zurich, Institute for Strategy and Business Economics (ISU).
    2. Ilya Prakhov & Victor Rudakov, 2018. "The Determinants of Faculty Pay in Russian Universities: Incentive Contracts," HSE Working papers WP BRP 47/EDU/2018, National Research University Higher School of Economics.
    3. Cunningham, Brendan M., 2009. "Faculty: Thy administrator's keeper? Some evidence," Economics of Education Review, Elsevier, vol. 28(4), pages 444-453, August.
    4. Guillaume Biot-Paquerot & Jean-Luc Rossignol, 2006. "Performance Management In The Public Sector:," Post-Print hal-00137200, HAL.
    5. Amihai Glazer & Vesa Kanniainen, 2007. "Short-term leaders should make long-term appointments," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 14(1), pages 55-69, February.
    6. Glazer, A. & Kanniainen, V., 2000. "Term Length and the Quality of Appointment," Papers 00-04, California Irvine - School of Social Sciences.
    7. Sergey V. Popov, 2015. "Tenure-track contract helps self-selection," Economics Bulletin, AccessEcon, vol. 35(4), pages 2482-2486.
    8. Heining, Jörg & Jerger, Jürgen & Lingens, Jörg, 2007. "Success in the Academic Labour Market for Economics - The German Experience," University of Regensburg Working Papers in Business, Economics and Management Information Systems 422, University of Regensburg, Department of Economics.
    9. Biot-Paquerot, Guillaume, 2006. "Organes de gouvernance et paradoxe démocratique: Le cas des conseils d’administration d’université [Democratic paradox and governance mediums: the case of university boards]," MPRA Paper 2302, University Library of Munich, Germany.
    10. Guillaume Biot-Paquerot, 2007. "Efficacité Du Système D'Évaluation Public : Le Cas Des Universités," Post-Print halshs-00543212, HAL.
    11. AW Dnes & JS Seaton, 2001. "The Research Assessment Exercise And The Reform Of Academic Tenure In The United Kingdom," Contemporary Economic Policy, Western Economic Association International, vol. 19(1), pages 39-48, January.
    12. Dnes, Antony W. & Seaton, Jonathan S., 1998. "The reform of academic tenure in the United Kingdom," International Review of Law and Economics, Elsevier, vol. 18(4), pages 491-509, December.
    13. Ferris, J. Stephen & McKee, Michael, 2005. "Matching Candidates with Academic Teams: A Case for Academic Tenure," International Review of Law and Economics, Elsevier, vol. 25(2), pages 290-310, June.
    14. Lim, Terence & Lo, Andrew W. & Merton, Robert C. & Scholes, Myron S., 2006. "The Derivatives Sourcebook," Foundations and Trends(R) in Finance, now publishers, vol. 1(5–6), pages 365-572, April.
    15. Jörg Heining & Jürgen Jerger & Jörg Lingens, 2008. "Deutsche Hochschulkarrieren im Fach Volkswirtschaftslehre. Eine deskriptive Analyse von Lebenslaufdaten," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 9(3), pages 306-328, August.
    16. BrownJr., William O., 2001. "Faculty participation in university governance and the effects on university performance," Journal of Economic Behavior & Organization, Elsevier, vol. 44(2), pages 129-143, February.
    17. Brown, William O., 2017. "Alchian on tenure: Some long awaited empirical evidence," Journal of Corporate Finance, Elsevier, vol. 44(C), pages 487-505.
    18. Panova, Anna (Панова, Анна), 2017. "Decision Making Mechanisms at University [Механизмы Принятия Решений В Университете]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 2, pages 132-151, April.

    More about this item

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • L31 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Nonprofit Institutions; NGOs; Social Entrepreneurship
    • J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts

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