Moderating Role of Corporate Governance Principles on the Relationship between Resource Mobilization and Financial Sustainability of Public Universities in Kenya

Purpose: This study examined the effect of financial resource mobilization on the financial sustainability of public universities in Kenya and evaluated the moderating role of corporate governance principles in this relationship.Design/Methodology/Approach: The study adopted a positivist research philosophy and an explanatory research design. A census of 35 chartered public universities in Kenya was conducted, with four purposively selected key informants from each university, yielding a target population of 140 respondents. Primary data were collected using structured questionnaires, while secondary data were obtained from audited financial statements. Descriptive statistics and regression analyses were performed using SPSS Version 26 to examine the direct and moderating effects.Findings: The findings revealed that resource acquisition, resource allocation, and resource utilization each had a positive and significant effect on financial sustainability. Corporate governance also exerted a positive and significant direct effect on financial sustainability. Furthermore, hierarchical regression analysis established that corporate governance significantly moderated the relationship between financial resource mobilization and financial sustainability by strengthening the effect of resource utilization while moderating the effects of resource acquisition and resource allocation.Implications/Originality/Value: The study provides practical evidence for policymakers, university councils, and institutional managers on the importance of integrating effective financial resource mobilization with strong corporate governance practices to enhance the long-term financial sustainability and resilience of public universities in Kenya.