Higher education in the 21st century is challenged by transformational changes resulting from factors influencing the educational landscape. The impact to Historically Black Colleges and Universities (HBCUs), where the pressures between trustee boards and administrations continue to escalate, is more pronounced than some other institutions. The potential results of such circumstances can affect college administrator and faculty recruitment and retention, financial management, and student achievement. Specifically, the purpose of the study determined the institutional impact of shared governance on the following: (a) overall institution success and college improvement strategies, (b) administrator and faculty recruitment and retention, (c) congruency of board leadership as a driver of administrator accomplishment and student outcomes, and (d) financial stability of the institution served. Using an exploratory sequential mixed-method design, this study examined shared governance in higher education by exploring the correlation between board leadership and performance at HBCUs. The study explored how HBCUs utilize effectively shared governance strategies; to ensure effective teaching, learning, and student outcomes. Quantitative data was collected using a Likert-scale designed survey instrument and, one-on-one interviews for qualitative data collection. The findings of this study were aimed at describing attitudes, behaviors, beliefs, and experiences of college presidents, trustee board chairmen and trustee board members and the impact of such on HBCU performance. The analysis of data resulting from the study shows where effective, shared governance between the administration and governing boards can promote increased school performance, student achievement, and financial sustainability. Recommendations for board training, onboarding and consistent evaluations of board of trustee effectiveness, are suggested. Further, it is recommended that future research be conducted to determine if the perceptions of college presidents, trustee leadership and trustee members would differ relative to the constructs studied, after participating in intensive trustee board governance training and onboarding. A review of previous research and literature of shared governance asserts connectivity between board engagement, administrator effectiveness, student success, and overall school value. This study explored how understanding the role and responsibility differences between college presidents and governing boards in higher education, affords a more cohesive leadership team, which is essential for institutional wellbeing. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com/en-US/products/dissertations/individuals.shtml.]