Research On The Disclosure Of Financial Information In My Country's Colleges And Universities

Information disclosure in colleges and universities is the natural extension and inevitable requirement of government information disclosure in the field of higher education.In world's most powerful countries of higher education and world-class universities,the disclosure of financial information in colleges and universities is universal.With the promulgation and implementation of the Regulations for the Government Information Disclosure,Measures for the Information Disclosure of Colleges and Universities,Notice on Doing a Good Job of Making Financial Information Disclosure in Colleges and Universities,Information Disclosure List of Colleges and Universities,the basic legal foundation has been laid to promote the financial information disclosure in colleges and universities in China.As the result of the scarcity of economic resources,confidential culture of wealth,technical barriers of accounting methods,financial information is economical,private and professional.This makes financial information disclosure become the most important and the most difficult part of information disclosure.In recent years,researches by Chinese news media,academic institutions,experts and scholars show that the overall status of information disclosure of colleges and universities in China is not optimistic.Especially,the lack of financial information disclosure affects the overall advancement of information disclosure in colleges and universities,and affects the realization of two "contributing" goals.Therefore,it is very important and urgent to conduct a special study on the disclosure of financial information in Chinese colleges and universities,which has a distinctive legal system background and important practical significance.Focusing on three dimensions:the theoretical basis,the system tracing and the practice investigation,and two perspectives:from the public goods to the information market,this research is based on the line "Literature Review—>Theoretical Basis—>System Tracing—>Practical Investigation—>Comparative Analysis—>Basic Information—>Information Products".The research methods of literature research,content analysis,comparative research and case study are comprehensively used in this research to carry out the study of the financial information disclosure in Chinese colleges and universities.This study builds on the theoretical foundation of public financial information disclosure research based on public management theory,principal-agent theory,information system model,and informed rights theory.In addition,promote the view from two perspectives:public goods and information market.Systematically comb the evolution of the system of financial information disclosure in colleges and universities in China,and introduce the process of information disclosure legislation in the United States,Britain,Canada and Australia.According to the list of colleges and universities published on the website of May 30,2016 by the Ministry of Education,select 817 colleges and universities as research samples,including 118 universities directly under the Central Government,284 adult colleges,7 joint education universities,and all colleges and universities in Beijing,Shanghai,Henan,Shaanxi and Fujian provinces.(Accounting for 28.4%of the total number of colleges and universities in 2016)According U.S.News&World Report 2018 annual world university rankings,select the top 10 universities each in the United States,Britain,Canada,Australia,a total of 40 foreign universities as reference samples.Set the inspection column,determine the assignment rules,implement the practical investigation,and carry out the statistics of the result according to the related requirements in "Measzures","Notice" and "List".Fully reflect the status quo and trend of cross-space,cross-time,cross-class financial information disclosure in China,and the status quo of financial information disclosure in foreign colleges and universities.At last,compare the financial information disclosure in domestic and foreign universities from two aspects of the legislative system and the practice.On the basis of comparative study,analyze the main problems and causes.The disclosure of financial information in colleges and universities is not "open"for "openness",but open for the promotion of the "use" of financial information in colleges and universities,and then achieve the two "helpful”goals of financial information disclosure in colleges and universities.This study divides the financial information of universities into the financial basic information and financial information products,studies the public goods attributes of the basic information of financial information in universities and the market orientation of financial information products in universities in the future,and forms the public goods threshold of public information research in colleges and universities.The conversion of two perspective has expanded the theoretical logic of university financial information disclosure research.Statistical analysis shows that achievements and problems co-exist of financial information disclosure in colleges and universities in China.The outstanding problems are as follows:1.From the theoretical basis,the theoretical foundation is weak,the subjective understanding is insufficient,and the guiding practice is out of line.2.From the basis of the system,the system follows the imbalance,the system content is shallow,and the supervision and accountability is wasted.3.From the perspective of practice,it is common for individuals in colleges and universities not to disclose financial information publicly,to be less open and to open later.The overall cross-space and inter-class financial information disclosure of colleges and universities is not sufficient and unbalanced.4.From the basic information,the main body loses the norm,the sharing is insufficient,the flow is not free.5.From the information market,the public target is weakened and the marketization degree is insufficient.This research argues that the financial information disclosure in colleges and universities in China is facing four major dilemmas:theoretical dilemma,legal dilemma,bottom dilemma and value dilemma.Accordingly it proposes four proposals:reconstruction,development,breakthrough and deepening.The innovation of this research:First,elucidating the theoretical logic of financial information disclosure in colleges and universities,and expanding the theoretical perspective from public goods to information market;Second,explaining the practical logic and expounding the pluralistic obligation subject and dual system compliance of financial information disclosure in colleges and universities,and rectifing the unbalance of the single obligation subject and system in the current system and practice.;Third,realizing the practical investigation and comparative analysis of cross-space,cross-time,cross-class and cross-border financial information disclosure.The shortcomings of this study:First,the view is limited because the samples of this research failed to cpver all the colleges and universities in China;Second,failure to carry out the performance evaluation of college financial information disclosure.