The role of accreditation on financial innovation and business sustainability: a study of AACSB-accredited business schools in the GCC region

Abstract

Purpose Accreditation represents a quality of academic standards and validation, and its impact on business schools is multifaceted. Accredited institutions are widely acknowledged for their higher quality, financial stability, stakeholder acceptance and overall growth compared to non-accredited educational institutions. Given these positive outcomes, this study aims to explore the role of accreditation in fostering financial innovation and business sustainability. Design/methodology/approach The study used a qualitative design to understand this relationship, engaging 36 leaders from Advance Collegiate Schools of Business-accredited business schools in the Gulf Cooperation Council region as participants to collect data. Semi-structured interviews were conducted to gain an in-depth understanding of the topic. Data were analysed using the content analysis method. Findings That accreditation significantly influences the business sustainability of these schools. In addition, although the direct impact of accreditation on financial innovation may not be immediately apparent, it was observed that financial inflows experienced remarkable growth after obtaining accreditation. Originality/value While the effects of accreditation have been thoroughly researched, its influence on financial innovation and business sustainability remains unexplored. This study aims to discern if accredited educational institutions excel in financial innovation and maintaining sustainable business practices. These findings have important implications as they guide university administrators to maximise the benefits of accrediting their business schools.