A Model for Financial Independence of Universities and Higher Education Institutions (Case Study: Islamic Azad University, Science and Research Branch, Tehran)
Keywords:
Financial independence, Islamic Azad University, higher education, knowledge commercialization, university–industry relationship, economic activity, teamworkAbstract
Objective: The present study aimed to design and validate a model for achieving financial independence at the Science and Research Branch of Islamic Azad University in Tehran, with emphasis on managerial, economic, educational, and organizational dimensions.
Methodology: This study employed an exploratory mixed-method design combining qualitative and quantitative approaches. In the qualitative phase, semi-structured interviews were conducted with 13 experts and faculty members of the Science and Research Branch of Islamic Azad University who were selected purposively based on theoretical saturation. The interview data were analyzed using qualitative content analysis through open, axial, and selective coding, leading to the extraction of the main dimensions and components of the proposed model. Subsequently, a 65-item questionnaire was developed. In the quantitative phase, the statistical population consisted of faculty members of universities and higher education institutions, among whom 335 participants were selected through multistage cluster sampling. Data were analyzed using SPSS version 22. The Kolmogorov–Smirnov test was used to assess normality, and one-sample t-tests were applied to evaluate the dimensions of the model.
Findings: The findings indicated that the proposed model of financial independence consisted of six major dimensions and several strategic components, including teamwork, economic activities, university–industry interaction, knowledge commercialization, cost control and reduction, and revision of managerial policies and planning. The Kolmogorov–Smirnov test demonstrated that most variables had normal distributions, allowing the use of parametric tests. Results of the one-sample t-test revealed that dimensions such as technology development, university–industry collaboration, market needs assessment, economic participation, teamwork, and commercialization of knowledge had means significantly higher than the criterion value with significance levels below 0.05, indicating their significant contribution to achieving financial independence. Furthermore, the validation process confirmed that the proposed model possessed acceptable validity and reliability and could serve as an applicable framework for enhancing financial independence in higher education institutions.
Conclusion: The results suggest that financial independence in universities requires a transition from traditional higher education structures toward innovative entrepreneurial and knowledge-based economic models. Strengthening university–industry cooperation, commercializing academic knowledge, utilizing elite human resources, reforming managerial policies, and increasing universities’ financial and executive autonomy can facilitate sustainable financial independence.
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