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Improving financial management system in higher education institutions


Author: Creciun Ala
Degree:doctor of economics
Speciality: 08.00.10 - Finance; Monetary Economics; Credit
Year:2017
Scientific adviser: Ludmila Cobzari
doctor habilitat, professor, Academy of Economic Studies of Moldova
Institution: Academy of Economic Studies of Moldova

Status

The thesis was presented on the 2 June, 2017 at the meeting of the Scientific Council and now it is under consideration of the National Council.

Abstract

Adobe PDF document1.31 Mb / in romanian

Thesis

CZU 336.1:378:005.915(478)(043)

Adobe PDF document 4.33 Mb / in romanian
173 pages


Keywords

education system, higher education institutions, evaluation of the financial management system, university funding, methods of financial evaluation, university financial autonomy, entrepreneurial university, endowment fond, crowdfunding, financial sources

Summary

The thesis includes introduction, 3 chapters, conclusions and recommendations, bibliography consisting of 156 sources, 137 pages of main text, 19 tables, 13 annexes, 25 figures and 22 formulas. The researches are reflected in 15 scientific publications.

Field of study: finance, financial management.

The thesis aim it is to develop the theoretical and methodological financial management in higher education institutions in Moldova to ensure the transition to a qualitatively new level of efficiency of operation.

Objectives of the thesis: research and development of the notions of „financial management within HEIs”, of the „financial mechanism within HEIs”; researching the concept of entrepreneurial university based on international experience; analysis of the European experience in managing the financial activity of HEIs; estimating the financial management system of universities in the Republic of Moldova; analysis of the state of sources of financial security of HEIs; evaluating methods to determine the efficiency of spending in higher education; developing recommendations on the application of effective financial management tools.

Scientific novelty and originality: develop the concept of financial management to ensure the financial stability of HEIs; elaboration of new elements in the methodology for calculating the efficiency of financial management within HEIs; elaboration of the econometric model of dependence between point break-chair and factors of influence; elaboration of cooperation between society and HEIs in order to attract alternative sources of funding through crowdfunding and fund endowment; developing the mechanism for attracting, accumulating and distributing the financial sources in order to determine the possibility of creating the entrepreneurial higher education institution.

Important scientific issue solved consists in the elaboration of proposals regarding the improvement of the modern mechanisms and methods in the field of financial management within HEI, by elaborating the econometric model of dependence between influence factors and point break-chair in order to optimize the management of financial resources of HEIs in the Republic of Moldova As well as the determination of the new possibilities for the accumulation of additional financial resources through the creation of the endowmentfund and the crowfunding platform in order to optimize the management of the financial resources of the HEIs in the Republic of Moldova.

The theoretical significance consists of: developing concepts on the content and structure of financial management within HEIs; developing the elements of the financial mechanism within the financial management system; such as conclusions and recommendations that can contribute to improving the financial management system within HEIs.

Applicative value of determining the possibilities for implementing proposals for optimization of the financial management mechanism of HEIs; determining the possibilities of applying the econometric model of dependence between point break chair and influence factors; formulating recommendations on improving the reforms in the university field.

Implementation of scientific results: the most important results of the research have been accepted for implementation of the scientific by the Ministry of Finance of Republic of Moldova as confirmed by implementing documents, The Ministry of Education, the Academy of Economic Studies, the National Institute of Economic Research of the Republic of Moldova being confirmed by implementing act.