Fiduciary Responsibility of Board Trustees and Officers in Universities and Colleges

Abstract

Examines the use and misuse of the term fiduciary responsibility as it applies to trustees and officers of the corporation in universities and colleges. Through research on published applications of the term, reveals that the term is rarely defined yet frequently used as a justification for action or inaction by trustees and officers. Antagonists of decisions sometimes use the term as a rationalization for suggesting action or decisions that should be made by trustees or officers in higher education. Concludes with a proposed definition of fiduciary responsibility that could be useful for trustees and officers and others interested in the concept of fiduciary responsibility.

Citation

Payette, D.L. (2001), "Fiduciary Responsibility of Board Trustees and Officers in Universities and Colleges", Corporate Governance, Vol. 1 No. 4, pp. 12-19. https://doi.org/10.1108/14720700110404306