Abstract

This article contributes to the debate on the capacity of universities to articulate the multiple priorities of various stakeholders based on common aims. Agency theory is used as an analytical framework to study the governance relationships between the main components of institutional governance in three Chilean universities: the board of directors, central administration and faculties, with a particular focus on the level of coherence between official institutional priorities and academic units' operational aims. The results show disparate levels of aim alignment and different governance practices depending on the case.