Corporate governance as a driver of university sustainability: a PLS-SEM analysis in public higher education

Corporate governance is a key determinant of university sustainability. Although theoretical work describes the interaction between these constructs, there is a lack of empirical studies assessing their causal relationship. To address this knowledge gap, this study assessed the impact of corporate governance on university sustainability in an accredited public institution in Colombia. The novelty lies in presenting corporate governance as the primary construct that affects university sustainability from a management perspective. In contrast, in the reported studies, it appears only as an isolated indicator in evaluating sustainability. The new institutionalism, the resource-based view, and the new stakeholder theory underpinned the theoretical model. The research was developed using deductive reasoning. It applied a structural equation model using least squares in Smart PLS 4.1.0.9 based on a sample of 398 respondents (professors and administrative staff) to evaluate the reflective measurement model and the structural model. The empirical analysis found that corporate governance, comprising the administrative process, university autonomy, stakeholders and the accountability system, positively affects university sustainability, which includes education for sustainable development and a sustainable campus. The study provides valuable recommendations for assessing university sustainability, highlighting the strategic significance of corporate governance for self-regulation and continuous improvement.