Peran Tata Kelola dalam Hubungan Kepemimpinan Transformasional dan Keberlanjutan Keuangan Perguruan Tinggi Swasta di Indonesia

Sakinah Toloa; Suryo Pratolo; Tiyas Puji Utami

doi:10.37058/jak.v21i1.674

Authors

Sakinah Toloa Universitas Muhammadiyah Yogyakarta
Suryo Pratolo Universitas Muhammadiyah Yogyakarta
Tiyas Puji Utami Universitas Pamulang

DOI:

https://doi.org/10.37058/jak.v21i1.674

Keywords:

Transformational Leadership, Good University Governance, Financial Sustainability, Private Higher Education, PLS-SEM

Abstract

Methodology/approach: This study aims to examine the effect of transformational leadership on the financial sustainability of private universities in Indonesia, with good university governance as a mediating variable. A quantitative approach was used in data collection through questionnaires administered to 317 respondents consisting of Vice Rectors for Finance, Vice Deans for Finance, Heads of Finance Bureaus, and Program Study Secretaries from various accredited HEI in Indonesia. Data analysis was performed using Partial Least Squares–Structural Equation Modeling (PLS-SEM) with SmartPLS version 4 software.

Findings: The results show that transformational leadership has a positive and significant effect on good university governance. Transformational leadership also has a positive effect on financial sustainability, both directly and indirectly. The main finding of this study is that good university governance acts as a mediating variable that strengthens the relationship between transformational leadership and financial sustainability.

Practical implications: The implications of this study suggest that improving leadership quality and strengthening institutional governance are crucial strategies for private universities in maintaining long-term financial stability and sustainability.

Originality/value: This study contributes to the higher education management literature by integrating transformational leadership, good university governance, and financial sustainability into a single mediation framework within the context of Indonesian private universities. The findings provide empirical evidence that good university governance serves as a strategic mechanism through which transformational leadership enhances institutional financial sustainability.

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