Private schools around the world continue to face sustainability challenges due to limitations in fiscal space as they strive to provide top notch academic services to their customers. Some educational experts have predicted the closure of many private schools in the last few years as a result of low financial stability indicators of these academic institutions. From this state of affairs, this study sort to examine the role of income diversification in the creation of fiscal space for academic sustainability of private second cycle educational institutions. A quantitative research approach was adopted. The study made use of descriptive correlational design. Descriptive statistics based on the central tendency with SPSS and regression process by Hayes model 1 were used to analyze and interpret the data collected from 190 private second cycle educational institutions in Ghana, randomly selected out of the population of 315, to answer self-constructed questionnaire. Results showed that private second cycle educational institutions have very low levels of income diversification activities to create fiscal space. There was a positive, significant influence of creation of fiscal space on financial sustainability. The findings have implications for income diversification strategies which create fiscal space and harness institutional income levels for academic and/or financial sustainability.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.