LEGAL AND ORGANIZATIONAL REFORMS IN THE IMPROVEMENT OF THE GOVERNANCE BODIES OF PUBLIC UNIVERSITIES

Authors

  • Bakhyt Omirkhanovich Altynbassov

DOI:

https://doi.org/10.52026/1994-408X_2020_63_5_118

Keywords:

universities, governance system, non-profit joint stock companies, stakeholders, administrative reform

Abstract

This year, a number of public universities of the Republic of Kazakhstan are being transformed from state-owned enterprises to non-profit joint-stock companies. It should be noted that such amendments to the current legislation have become one of the major changes in the science of civil law. Public universities, whose legal status has changed, now form their boards of directors, supervisory boards, internal audit and other bodies to form corporate governance.

Comparative analysis of international research literature on this topic shows that the correct choice of the governance model for universities contributes to their efficiency. Within the framework of this study, governance models were considered based on agency theory, trustee theory, corporate governance theory, and stakeholder theory. As a result of the study, it was revealed that although the government intends to establish the corporate governance model in public universities in Kazakhstan, actual governance model of universities has signs of a trustee governance model. Therefore, further theoretical study of public university governance models is proposed.

As a result of studying the legislation on joint-stock companies and the charters of certain public universities, it was revealed that responsible positions in the corporate governance bodies of public universities are occupied by officials. The fact that chairmanships and memberships on supervisory boards and boards of directors are unpaid shows a unilateral imposition of additional responsibilities. It is assumed that this situation, in turn, may negatively affect the effectiveness of the governing bodies. Also, based on the experience of developed countries, it was recommended to involve representatives of industrial companies and businesses in the governance bodies of universities. Consequently, in order to create an effective form of university governance, it is proposed to continue work to improve the regulatory framework.

 

Published

30.12.2020

How to Cite

Altynbassov Б. Ө. (2020). LEGAL AND ORGANIZATIONAL REFORMS IN THE IMPROVEMENT OF THE GOVERNANCE BODIES OF PUBLIC UNIVERSITIES. Scientific and Legal Journal «Bulletin of the Institute of Legislation and Legal Information of the Republic of Kazakhstan», 5(63). https://doi.org/10.52026/1994-408X_2020_63_5_118