Exploring Public-Private Partnerships for Sustainable Growth and Corporate Governance in Kenyan Universities

Abstract

Kenyan universities are grappling with the dual challenge of achieving sustainable growth amidst financial constraints and ensuring effective corporate governance to meet global standards. Therefore, this study explored Public-Private Partnerships (PPPs) for sustainable growth and corporate governance in Kenyan Universities. The study was guided by Institutional theory and Resource dependence theory. Descriptive research design was utilized in the study. The target populations were 96 top university management staff from 35 Universities in Kenya. Using Yamane’s formula, a sample size of 77 respondent was arrived at. Neyman allocation formula was used for sample size distribution. Stratified sampling technique was used to select respondents. Structured questionnaires were used to collect primary data. Content validity and Cronbach's alpha was used to determine validity and reliability of the research instruments. Descriptive (frequencies, percentages, mean and standard deviation) was adopted to analyse collected data. The findings revealed universities uses joint venture partnerships, strategic partnerships, special purpose vehicle arrangement, build - transfer-and-operate and contract PPPs arrangements in the financing of infrastructure projects. Further, the respondents were to a little extent satisfied with use of green building design architecture, conservation of energy practices, conservation and preservation of water as an operational practice in PPPs. Lastly, they were to a moderate extent satisfied with the fact that implementation of operational practices is done with a focus on promoting effective corporate governance in universities in Kenya. Given the respondents' limited satisfaction, there is a need for universities and PPP stakeholders to intensify efforts in incorporating and promoting these sustainable practices. This involves leveraging innovative technologies, strategic partnerships, and rigorous monitoring to ensure that sustainability becomes a central tenet of future PPP initiatives.