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Applying Stakeholder Theory and Structural Equation Modeling (SEM) to Identify Factors Toward Improving the Degree for Financial Autonomy of High Schools in Disadvantaged Areas

In: Contemporary Economic Issues in Asian Countries: Proceeding of CEIAC 2022, Volume 2

Author

Listed:
  • Phung Thanh Loan

    (Academy of Finance)

  • Hoang Huu Son

    (Academy of Finance)

  • Hy Thị Hai Yen

    (Academy of Finance)

  • Ngo Thi Thuy Quyen

    (Academy of Finance)

  • Mai Thi Bich Ngọc

    (Academy of Finance)

Abstract

Stakeholder theory considers factors affecting an organization according to three perspectives: power, legitimacy, and urgency. This theory is consistent with studies on the financial autonomy mechanism of public units because these units need to ensure multiple targets: financial autonomy, social security, and political missions. In this article, we apply this theory to conduct a theoretical framework of factors impacting the financial autonomy of public high schools in disadvantage areas (Ha Giang, Cao Bang, Bac Kan provinces) and build a questionnaire from this theoretical framework. Applying structural analysis with collected data, the theoretical framework has been adjusted and given the factors influencing level of financial autonomy of high schools in three provinces of Bac Kan, Cao Bang, and Ha Giang. These factors with regressive estimate index are infrastructure (0.41), characteristics of the educational service market (0.37), legal framework for autonomy (0.32), and quality of human resources (0.31). The impact of the local government’s implementation of the self-financing mechanism of public units is not enough statistics basic for assessment. Then, we have proposed a number of policy recommendations to improve the financial autonomy of surveyed high schools from analyzed data.

Suggested Citation

  • Phung Thanh Loan & Hoang Huu Son & Hy Thị Hai Yen & Ngo Thi Thuy Quyen & Mai Thi Bich Ngọc, 2023. "Applying Stakeholder Theory and Structural Equation Modeling (SEM) to Identify Factors Toward Improving the Degree for Financial Autonomy of High Schools in Disadvantaged Areas," Springer Books, in: An Thinh Nguyen & Thu Thuy Pham & Joon Song & Yen-Ling Lin & Manh Cuong Dong (ed.), Contemporary Economic Issues in Asian Countries: Proceeding of CEIAC 2022, Volume 2, pages 625-638, Springer.
    • Handle: RePEc:spr:sprchp:978-981-99-0490-7_38
    DOI: 10.1007/978-981-99-0490-7_38
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