Entrepreneurship in higher education: the formation of entrepreneurial universities

Abstract

The paper analyzes the emergence of entrepreneurial universities as a new phenomenon in higher education of Ukraine. The number of scientific publications formed essential characteristics of the concept with the emphasis on entrepreneurial thinking in the HEIs. The scientists suggest variety of approaches from internal hybrid form to a “third-generation” university. Ukrainian researchers concentrate on the question of how to integrate entrepreneurship in the HEIs. They focus mainly on commercialization of knowledge and scientific results within existing organizational forms without improving social, economic or legal environment. The article aims to consider the evolution of entrepreneurial universities model in Ukraine. The authors applied methods of legal comparative analysis to determine the level of autonomy. Then the authors used financial analysis methods to measure the potential for entrepreneurship. In particular, the paper examines the dynamics of both absolute and relative financial indicators. The analysis of legal environment revealed that the autonomy of public HEIs remains relatively limited despite first promising steps. The paper identified private HEIs as main players in the development of entrepreneurial model in Ukraine. Thus, the findings are based on the financial performance analysis of 77 private universities collected from statistical reports of Ukraine. The research demonstrates sufficient potential of private HEIs to ensure financial autonomy providing the opportunity to form entrepreneurial universities as a new organizational structure of an education institution. Moreover, the introduction of an entrepreneurial behavior model could lead to the growth of their financial results and, consequently, to the sustainable development on a long-term basis.