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The purpose of this study is to examine the impact of financial sustainability indicators of higher education on foreign direct investment (FDI) using empirical evidence from 26 Organization for Economic Co-operation and Development (OECD) countries. The basic criterion for determining the financial sustainability of higher education institutions included indicators of income generated by higher education institutions being greater than the operational costs. However, this requires financial sustainability, which depends on financial self-sufficiency without seeking external financial assistance. This situation is affected by investment attractiveness.

Three quantitative proxies were used in this study to explain the financial sustainability indicators in higher education institutions of OECD countries: financial expenditures proxy measured by current tertiary education expenditure (CE); efficiency proxy measured by university-life expectancy (ULE) and endogenous growth proxy measured by gross enrolment tertiary ratio (GETR) to show the effect on FDI. Also, this study used six control variables considered an important part of experimental design and refers to contributing factors that were eliminated to clarify the independent variable and a dependent variable nexus. The quantitative data was collected from World Development Indicators (WDI). This study applied a STATA version using panel data techniques for over 15 years from 2001 to 2015 and also used fixed effect (FE) and random effect (RE) estimations to address problems of heterogeneity. To mitigate the endogeneity problem, the generalized method of moments (GMM) was also used.

The results of this study were derived from the adoption of financial models applied in higher education institutions to test the financial sustainability indicators. Based on the RE and FE results, a one per cent increase in the current tertiary education expenditure caused about 0.19 and 0.18 per cent increase in FDI in the OECD economies. This positive and significant impact was higher when considering the problem of endogeneity by applying the GMM estimations. FDI grew by about 0.22 per cent when the CE increased by one percent. Meanwhile, there was a significant and negative relationship between FDI and the GETR variable for the FE results but this previous relationship was insignificant for RE estimations. The FDI in OECD economies decreased by about 0.0006 per cent when the GETR increased by 1 per cent. This negative effect became larger when applying the GMM estimations. Finally, the ULE results showed there was a positive and insignificant relationship between ULE and FDI for all estimators.

The management and analysis of the financial health indicators is necessary to evaluate educational activities but is not sufficient to achieve financial sustainability, which extends beyond the indicators of financial health to encompass factors such as student achievements; research and scientific output; community engagement; productive capacity; quality inputs; risk and infrastructure; and systems.

This study is considered one of the few existing studies examining the ways in which to achieve financial sustainability in higher education institutions using quantitative financial methods. Specifically, this study adopted Pecking order theory in its analysis of the financial sustainability indicators to clarify whether the financial sustainability indicators of higher education institutions lead to an improvement in the attractiveness of foreign investment in OECD countries in the long run. The findings contribute to the necessity of adopting internal financing sources in accordance with the Pecking Order theory to help achieve financial sustainability growth.

This paper aims to study the mechanism of how the public universities have funded the campus sustainability projects in China, by identifying key actors and examining the processes.

Besides a review of campus sustainability initiatives at higher education institutions in China, the case of Central University of Finance and Economics (CUFE) is selected to provide an empirical understanding of the campus sustainability management in a typical university.

The paper points to dominant roles played by the state ministries in financing university conservation programs and the absence of a national policy framework and low sustainability proactiveness in a majority of higher educational institutions. It argues that more discretionary power and more policy deliberations are needed for the transformation.

Universities in China vary distinctively in status, operations and performance. In terms of campus sustainability management, the case of CUFE is highly representative as it shares more common features with universities that develop in a routine manner.

With the financial support from government agencies, the campus conservation-oriented projects have been conducted and financially supported in hundreds of pilot universities, but failed in diffusing to more universities. This study identifies the barriers and challenges.

An in-depth understanding of the working mechanism in financing university sustainability initiatives will promote a discussion on China’s policymaking process and will provide useful insights regarding its future policy options.

China has conducted nationwide conservation-oriented campus constriction for almost a decade and many universities increase their investment in campus facilities and their operations; however, there is a lack of understanding of the rationale of the funding models and how they have been implemented.

The purpose of this paper is to develop a higher education funding and employment system that obviates barriers to sustainable development and helps engrain the notion of sustainability into the institutional framework.

The “Higher Education Sustainability First System” (HESFS) is a conceptual model that builds upon ideas from previous literature. Its theoretical basis draws on a joint value creation framework from the stakeholder theory and business model perspectives.

A holistic three-pillar approach that offers multiple value propositions is needed to engage the stakeholders to collaborate for the coherent functioning of the HESFS. This will enable the establishment of a viable innovative financial model and the institution of a sustainability-focused student employment program that are facilitated by a robust sustainable infrastructure. Several sustainable development goals may be furthered in the process.

The applicability of a part or entire HESFS depends on the characteristics of the higher education institution and the level of its maturity in a sustainable development process. Although its different constituents have been empirically validated in literature, the HESFS model could be applied in a case study to determine its potential feasibility.

The HESFS may inspire policymakers, businesses and higher education institutions to forge alliances to devise innovative resources of funding and engage in employment partnerships that can lead to progress in sustainable development. It may particularly be useful for institutions in developing and less developed countries, where inequality and high youth unemployment rates prevail.

By focusing on an under-researched topic through a multitheoretical perspective, this study contributes to theories pertaining to stakeholder engagement and business models.

National student loans help solve the problem of tuition fees for students from poor families to a great extent. This paper aims to study the behavior of three main players involved in university student loans, namely, universities, banks and students and explores necessary conditions for promoting the steady development of student loans, as well as the sustainability of cooperation and coordination among players, thus promoting the further development of student loans.

First, from the perspectives of the three related players of banks, students and universities and their behavior, this paper establishes a three-player behavioral evolutionary game model, conducts a sustainable game analysis among the different players, and by replicating the dynamic equations with the Jacobian matrix solve the evolutionarily stable strategy. Finally, applying MATLAB tools, a sensitivity analysis of relevant impacting factors is carried out to explore the influencing mechanism of the sustainable development of student loans.

To achieve the mechanism of mutual coordination and cooperation between participants, banks need to be guided to actively issue student loans and conduct strict loan review. College students should be encouraged to establish good credit and strengthen penalties should be implemented for violations of regulations. Universities should be encouraged to help banks reduce information asymmetry, promote financial knowledge and student integrity education and promote the sustainable development of national student loans.

This research will help scholars better understand the interaction mechanism among universities, banks and students, and promote the sustainable development of national student loans.

This study aims to describe how creative thinking ability could be improved through correcting the thinking schemata using cool-critical-creative-meaningful (3CM) learning model.

This study implemented mixed methods with explanatory sequential, which means a study that was conducted by collecting quantitative and qualitative data, consecutively. The creative thinking ability was measured through tests and then triangulated with the student teachers answers in the interviews. The qualitative data consisted of creative thinking schemata that were collected with task analysis and think aloud method. The data were analyzed in two stages. Quantitative data analysis was used to identify the effectiveness of 3CM learning. Qualitative data analysis was conducted using Miles and Huberman’s analysis.

The findings presented that 3CM learning model is significantly effective to improve the creative thinking ability of pre-service primary teacher; students with formal, content and linguistic schemata that are good and complete will also have good mathematical creative thinking ability; the mathematical creative thinking ability of student is determined by the completeness of their schemata; and a good and complete schemata (formal, content and linguistic) will help the students to produce several problem-solving alternatives.

Because of the chosen research approach, the research results may lack generalizability. Therefore, researchers are encouraged to test the proposed propositions further.

The results of this study suggest lecturers to give their students a great opportunity to develop their creativity in solving mathematical problems. Lecturers could give the students the opportunity to think systematically by beginning by criticizing the interesting contextual problems and ending with meaningful reflection with adequate learning resources.

3CM learning model is a model that is proven to be effective in helping the students in shaping the thinking schemata well and able to improve the creative thinking ability of the students.

The integration of sustainability is more matured in the corporate sector. However, the topic received less attention in higher education institutions (HEIs). Therefore, this study aims to conceptualize an integration framework and proposes sustainability integration and implementation index in the HEIs.

The index was developed from previous literature. For the implementation of the index, three universities were selected. The required data collected from websites, internal documents and interviews with the high officials of these universities.

Sample universities have somehow inclination toward the broad agenda of sustainable development, but still, they lack integration, implementation and reporting of their sustainable practices. Moreover, the departments have positive and practical intent toward sustainability especially regarding the environment, designing curriculum, teaching, research activities and volunteerism. However, in assessment, the social and economic contributions of these universities revealed to be somewhat mild. The findings also evidenced heterogeneity among the sample institutions to follow the said agenda which reflects a lack of awareness and policy or a centralized or regulatory push from the top.

The study is limited to three universities in Khyber Pakhtunkhwa, Pakistan. Hence, in the future, the framework and index may be tested in other universities of the country or region. Nevertheless, the study carries theoretical significance in the literature of sustainability.

The study has practical implications for academia, regulatory bodies and universities to integrate, implement and report sustainability in HEIs.

The study proposes and validates the sustainability integration and implementation index in HEIs. The index is unique and has originality or value particularly for HEIs of the developing countries.

This study aims to provide an example of how higher education institutions (HEIs) can use a successful campus infrastructure project to fund a student- and faculty-led, community-success platform that advances the sustainable development goals (SDGs).

The authors applied conceptual models for systems thinking and creating virtuous cycles to analyze Millersville University’s work to establish a community-impact, micro-grant fund using cost savings and utility rebates associated with a new campus zero-energy building. The analysis provides a case study that other HEIs can implement to create university and community virtuous cycles that advance the SDGs.

The case study suggests that as HEIs face increasing financial challenges, opportunities exist to capitalize on philanthropic giving and other funding sources to support community prosperity and increase university vitality through a shared responsibility paradigm centered on the SDGs.

This case study identifies specific funding sources that HEIs can use to fund campus and community sustainability projects using the SDG framework, mechanisms for establishing shared purpose around that impact and a conceptual model for thinking about opportunities to leverage philanthropic giving to create a virtuous cycle that increases university vitality through community impact.

Constructing a campus zero energy building funded in part through philanthropic giving provided a unique opportunity to explore how a project’s success can be leveraged to create additional community successes. This case study offers an example for how to convert one success into a platform that funds projects that have direct community impact in one or more of the SDG goal areas.

This paper aims at bridging the gap between theoretical frameworks for community sustainable development and descriptive-only case studies by using a case study to demonstrate a conceptual model or framework for advancing community sustainability (Karatzoglou, 2013). The case study provides a unique model for using utility rebates associated with an infrastructure project that was funded through philanthropic giving to establish a fund for projects that support the community. Utility rebates associated with campus energy efficiency projects are often otherwise overlooked, used to fund additional energy efficiency projects or simply returned to a university’s operating budget. For some HEIs, this model may connect the work of facilities staff to student success in ways that have not previously been explored. For others, this alternative use of utility rebates may offer an opportunity to increase the investment value of utility rebate dollars by creating virtuous cycles within their communities that contribute to university vitality.