The external circumstances for universities have been changing rapidly. In order to be competitive, survive, and flourish, universities have shown a growing enthusiasm to generate financial revenues externally. The literature refers to this phenomenon as academic capitalism, defined as the...

Many private higher educational institutions (PHEI) are facing poor profitability, increased short term debts with under-resourced cash flow and insufficient funds that could lead to financial distress. To address the issues of ever-changing business environments and to deliver value...