Beyond compliance: the financial payoff of sustainability disclosure and green marketing in universities
DOI: https://doi.org/10.3846/jbem.2026.26961Abstract
This study investigates when and how sustainability disclosure in higher education translates into superior financial performance, and whether green marketing initiatives strengthen that relationship. Drawing on a multi-country panel of Middle Eastern universities covering the period (2014–2024), the analysis develops a disclosure index aligned with the Global Reporting Initiative (GRI). Green marketing intensity is coded from verifiable institutional communications, while financial performance is assessed through operating outcomes and revenue-related indicators. Using panel regression models and complementary dynamic specifications, supported by thorough diagnostic and robustness checks, the results indicate a clear positive association between disclosure quality and financial performance, a separate positive association for green marketing, and, most importantly, a reinforcing interaction whereby credible, consistent green communication amplifies the financial payoff of disclosure. The study recommends that universities move beyond compliance reporting toward communicative integration for value: align disclosure with recognized standards, anchor messages in verifiable evidence, coordinate disclosure and marketing functions, and monitor communication outcomes related to enrolment, partnerships, and funding. The findings offer actionable guidance for leaders and policymakers seeking to couple sustainability commitments with sound financial stewardship in an increasingly competitive academic landscape.
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sustainability disclosure, green marketing initiatives, financial performance, higher education institutions, stakeholder theory, signaling theory, institutional theoryHow to Cite
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Copyright (c) 2026 The Author(s). Published by Vilnius Gediminas Technical University.
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