The Institutional Complexity of Financial Management in the Hybridization of State Universities in Indonesia

This study investigates the complexity of financial management in hybridized public universities in Indonesia. Using a multi-qualitative case study approach, two universities were selected as cases. Data were collected from official documents of the universities, including strategic plans and annual reports. The study reveals that these universities must balance financial and service priorities due to the hybrid nature of their organizations. To address this, they adopt strategies such as diversifying revenue, aligning curricula, and enhancing industry partnerships. The findings offer insights for managing public universities and inform future policies, particularly for those transitioning to autonomous status.