Board Competency for Fiduciary Governance Responsibilities: A Basis for Competency and Fiduciary Enhancement Programs
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Abstract
The challenge of providing good governance is paramount in higher education institutions. Governing boards play a pivotal role in governance as they help to ensure that management achieves the institution’s stated goals and objectives. The purpose of this study was to explore the current practices of board competency and the duties of the board of trustees in seven selected institutions in the Southern Asia Pacific region as viewed by appropriate board respondents (N =114). Strategic, contextual, analytical, political, educational, and interpersonal competencies, as well as fiduciary governance responsibilities, were reportedly practiced at a high level. Competency and governance responsibilities were closely associated, implying that the higher the competency of a board of trustees, the better was the performance of governance responsibilities. The Mann-Whitney results showed that female respondents practiced a higher level of fiduciary responsibilities than males. Moreover, the regression results identified educational competency as the strongest predictor of the practice of fiduciary governance responsibility. Recommendations and guidelines for educational competency and fiduciary enhancement programs were generated to assist in the development of good practices.
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