Conflicts of interest in the assets and financial administration of universities and other higher education institutions in Chile

Authors

Abstract

In this paper we address the problem of conflicts of interest in private universities in Chile. We approach this issue by considering universities’ characteristics as both, non-profit institutions, and educational institutions. The absence of regulation and jurisprudence on conflicts of interest in non-profit entities in general, and universities, in particular, has been problematic for the development of the so-called «third sector» and for universities. We analyze how conflicts of interest are at the center of the financial and asset management problems of these institutions, and how this problem also affects their autonomy and quality. Finally, we address the legal framework meant to fill this regulatory gap established by the bill of Law 21.091 of 2018.

Keywords:

conflicts of interest, higher education, profit, non-profit legal entities, universities