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Effective board governance structure for a University Endowment Fund

Hamdan, Hamdino and Anifowose, Mutalib and Annuar, Hairul Azlan (2019) Effective board governance structure for a University Endowment Fund. In: Islamic development management: recent advancements and issues. Springer Nature Singapore Pte Ltd, Springer Singapore, pp. 3-17. ISBN 978-981-13-7583-5

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No doubt that endowment fund contributes much toward social and economic development in different societies. The same have been proved by University Endowment Funds (UEF) like the top ten UEF and others. This contribution to the society on high learning process is made possible through this fund under a corporate structure that directs all its activities. Due to the importance of governance in any organization, hence this study aims to the analyze current governance structure, specifically board composition of the top five UEF. From it, suggestions can be given for universities undertaking Islamic Endowment Fund for improvements so as to become much better in terms of performance through good governance structure. Data were retrieved through content analysis from top five UEF reports. The study observed that there were two forms of board structure used on the governance of endowment funds at universities. These include single-tier and two-tier model.While the former comprises of a board that oversee the activities of the fund, the later consists of a Board of Trustees that formulate the policies and investment committee that executes the policies formulated. In either of the two models, the average size of the board is 9 members. The board comprises of male and female members and the meetings are held 4 times a year. Also, most of the funds engage in real estate business and most of the board members are professional finance experts. Based on the aforementioned, it is suggested that the management of the fund should be separated from the university management.

Item Type: Book Chapter
Additional Information: 6883/74584
Uncontrolled Keywords: University Endowment Fund (UEF), Board structure, Governance, Independent
Subjects: H Social Sciences > HB Economic Theory > HB846 Welfare theory
H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Kulliyyah of Economics and Management Sciences
Kulliyyah of Economics and Management Sciences > Department of Accounting
Kulliyyah of Economics and Management Sciences > Department of Finance
Depositing User: dr hamdino hamdan
Date Deposited: 29 Oct 2019 15:29
Last Modified: 28 Jan 2020 09:18
URI: http://irep.iium.edu.my/id/eprint/74584

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