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Museum finances: challenges beyond economic crises

Lindqvist, Katja LU (2012) In Museum Management and Curatorship 27(1). p.1-15
Abstract
Economic crises directly and indirectly affect the financial health of museums. Despite this reality, however, analysing the impact of the economic cycle on museums has not generated much interest among researchers; to date published studies on the recent financial crisis and its reverberations in the museum sector are rare. This article, after acknowledging this lack of research, discusses specific

challenges facing the financial management of museums and identifies the need for additional empirical research on the problems facing these institutions. Based on the author’s findings in published research and accumulated field experience, the article identifies income originating from various museum stakeholders and examines the... (More)
Economic crises directly and indirectly affect the financial health of museums. Despite this reality, however, analysing the impact of the economic cycle on museums has not generated much interest among researchers; to date published studies on the recent financial crisis and its reverberations in the museum sector are rare. This article, after acknowledging this lack of research, discusses specific

challenges facing the financial management of museums and identifies the need for additional empirical research on the problems facing these institutions. Based on the author’s findings in published research and accumulated field experience, the article identifies income originating from various museum stakeholders and examines the vulnerability of these funds to fluctuations in the economy. While

most museum income streams are not found to be particularly vulnerable to economic fluctuation, structural challenges for the financial management of museums do exist beyond economic crises. Therefore, the management of longterm, stakeholder relationships is a more reliable way of achieving financial stability than the implementation of short-term strategies to counter the effects of

a recession and financial crises. (Less)
Please use this url to cite or link to this publication:
author
organization
publishing date
type
Contribution to journal
publication status
published
subject
keywords
governance, museum funding, museum management, stakeholder, financial strategy, sustainability
in
Museum Management and Curatorship
volume
27
issue
1
pages
1 - 15
publisher
Routledge
external identifiers
  • scopus:84857070133
ISSN
0964-7775
DOI
10.1080/09647775.2012.644693
language
English
LU publication?
yes
id
1d0c954f-f4cd-4e4c-9004-06a3a6ab4ee1 (old id 2342905)
alternative location
http://dx.doi.org/10.1080/09647775.2012.644693
date added to LUP
2012-02-22 16:27:20
date last changed
2017-10-22 04:06:34
@article{1d0c954f-f4cd-4e4c-9004-06a3a6ab4ee1,
  abstract     = {Economic crises directly and indirectly affect the financial health of museums. Despite this reality, however, analysing the impact of the economic cycle on museums has not generated much interest among researchers; to date published studies on the recent financial crisis and its reverberations in the museum sector are rare. This article, after acknowledging this lack of research, discusses specific<br/><br>
challenges facing the financial management of museums and identifies the need for additional empirical research on the problems facing these institutions. Based on the author’s findings in published research and accumulated field experience, the article identifies income originating from various museum stakeholders and examines the vulnerability of these funds to fluctuations in the economy. While<br/><br>
most museum income streams are not found to be particularly vulnerable to economic fluctuation, structural challenges for the financial management of museums do exist beyond economic crises. Therefore, the management of longterm, stakeholder relationships is a more reliable way of achieving financial stability than the implementation of short-term strategies to counter the effects of<br/><br>
a recession and financial crises.},
  author       = {Lindqvist, Katja},
  issn         = {0964-7775},
  keyword      = {governance,museum funding,museum management,stakeholder,financial strategy,sustainability},
  language     = {eng},
  number       = {1},
  pages        = {1--15},
  publisher    = {Routledge},
  series       = {Museum Management and Curatorship},
  title        = {Museum finances: challenges beyond economic crises},
  url          = {http://dx.doi.org/10.1080/09647775.2012.644693},
  volume       = {27},
  year         = {2012},
}