The Study Of Higher Education Financial Resource Allocation Reform From The Perspective Of Stock Optimization

The rational allocation of financial resources is an eternal topic.As an important part of the strategy of invigorating the country through science and education,the allocation of financial resources in higher education is particularly important.China’s higher education financial resource allocation reform has been implementing a path of "incremental reform",with the deep-rooted concept of "emphasizing incremental and ignoring stock".The development mainly depends on the incremental investment of financial funds,and remarkable results have been achieved.However,as the reform enters the critical stage,the marginal effect of "incremental reform" is gradually weakened,its limitations and some deep-seated problems are gradually highlighted,and there is a sharp contrast between the shortage of financial funds and the idle waste of state-owned assets,which requires the introduction of a new reform logic based on "stock optimization".The accumulation of higher education finance over the years has formed a huge stock of state-owned assets.As the materialization and precipitation of financial funds,the stock of state-owned assets fully reflects the accumulation and scale effect of finance.It is an important support and material basis for colleges and universities to carry out teaching,scientific research,administrative and logistics service guarantee,and improve the efficiency of financial resource allocation through stock optimization,it is the inevitable requirement of realizing the connotative development of higher education and deepening the reform of financial system,it is of great significance to study the reform of higher education financial resource allocation from the perspective of stock optimization.Stock optimization is related to two allocation links: one is the process of asset-related capital allocation,the other is the process of asset allocation.The theoretical significance of this study lies in: breaking through the limitations of the traditional narrow financial concept of "Finance on capital" and "assets on assets",expanding the research vision of financial resource allocation to an organic whole including increment and stock,and changing the logic of higher education financial resource allocation reform from pursuing increment to optimizing stock;From the perspective of system theory,this paper defines the relationship between the increment and stock of financial resources in higher education,theoretically expands the depth and breadth of the combination of budget management and asset management,and provides theoretical support for the integrated governance of budget,assets and performance;It enriches the research methods of higher education financial resource allocation,takes the analysis of control power as an important research method,and expounds the important role of control power allocation in higher education financial resource allocation,especially stock allocation,so as to provide theoretical support for the construction of higher education financial governance system.According to the logic of "asking questions-theoretical and empirical analysis-reform design",this paper comprehensively uses normative analysis,theoretical analysis,literature analysis,empirical analysis and comparative analysis.The content of the paper is divided into eight chapters.The first chapter is the introduction.Firstly,it introduces the research background,expounds the theoretical and practical significance of the research,defines the main concepts involved,defines the research scope,expounds the research ideas,and points out the innovation and shortcomings of this research.The second chapter is literature review and theoretical basis.Combing the relevant research on the higher education financial resource allocation at home and abroad in recent years,this paper mainly points out the relative weakness in the current literature research from four aspects: asset budget,asset management,asset performance and the relationship between increment and stock,and puts forward the research direction of this paper on the basis of summarizing the previous research results.This paper selects public goods theory,principal-agent theory,property right(control right)theory and system theory as the theoretical basis of this study,and introduces the main contents of these four theories and Their Enlightenment to this paper.The third chapter introduces the current situation,problems and causes of higher education financial resource allocation from the perspective of stock optimization.It introduces the actual situation of higher education financial resource allocation from four aspects: historical evolution,current system,implementation and efficiency.In the efficiency part,DEA method is used to make an empirical analysis,taking colleges and universities directly under the Ministry of Education as an example,and analyzes the impact of higher education funds and various asset investment on efficiency;This paper puts forward three main problems in the allocation of higher education financial resources under the guidance of the current concept of incremental allocation: the limitation of incremental drive,the lack of coordination of incremental stock and the poor effect of stock allocation.It makes an in-depth analysis of the causes of the problems from three aspects: concept solidification,system constraints and system limitations.The fourth chapter analyzes the relationship between the increment and stock of higher education financial resources.This paper makes a theoretical and empirical analysis on the relationship between increment and stock,and takes colleges and universities directly under the Ministry of education as an example to analyze the relationship between higher education fund income and its structure and the amount of new fixed assets,that is,the quantity of fixed asset investment,as well as the relationship between various fixed assets of higher education expenditure.At the same time,it verifies the influence of students,teachers,the city,the type and levelof colleges and universities on resource allocation.Finally,according to the analysis results of the relationship between increment and stock,the relevant reform enlightenment of stock optimization is obtained.The fifth chapter is the analysis of the control right in the process of higher education financial resource allocation.On the one hand,it analyzes the control of the budget management process,and deeply analyzes the budget management mode between the government and colleges,colleges and departments;On the other hand,it analyzes the control right of the asset management process,including the formation process and use process of assets.Finally,according to the analysis results of the allocation process control right,the relevant reform enlightenment is obtained.The sixth chapter is the reference of foreign experience in the allocation of higher education financial resources.It mainly summarizes the relevant experience of foreign higher education(selected from the United States,Canada,Britain,Germany and France)in four aspects: management mode,budget management,asset management and performance management,so as to provide enlightenment and reference for China’s reform of higher education financial resource allocation from the perspective of stock optimization.The seventh chapter is the overall design of higher education financial resource allocation reform from the perspective of stock optimization.It mainly puts forward the main objectives,basic framework and key points of the reform,and constructs a higher education financial governance system by improving the governance system of overall planning increment and stock,establishing the governance structure of overall planning increment and stock,building a higher education financial resource governance platform,and improving the governance ability of higher education financial resources,Provide guidance for the specific measures of reform proposed in the next chapter.The eighth chapter is the specific measures of higher education financial resource allocation reform from the perspective of stock optimization.This paper puts forward specific reform measures from the three dimensions of budget management,asset management and performance management,which are the core in the process of resource allocation,so as to achieve the following three reform objectives: integrate the budget integrated management of asset elements,realize the asset dynamic management of "value for money",and build the asset performance management system of the whole life cycle.The innovations of this paper are as follows:1.It provides a new reform path for the allocation of financial resources in higher education.Over the years,China’s higher education financial resource allocation has implemented a logic of "incremental reform".However,with the slowdown of the growth rate of national education financial allocation under the "new normal",colleges and universities are also facing the problem of fund shortage.Based on the optimization of huge stock assets,this paper puts forward a new idea to solve the problem of financial resource allocation of higher education.Integrating assets as a crucial fiscal policy variable into a unified higher education financial resource allocation structure,we have built a comprehensive and systematic governance system from four aspects: improving the governance system of overall planning increment and stock,establishing the governance structure of overall planning increment and stock,building a higher education financial resource governance platform,and improving the governance ability of higher education financial resources The three dimensions of performance management put forward specific reform measures,which provides a new reform path for the allocation of financial resources of higher education in China.2.It provides a method reference for realizing the overall allocation of increment and stock.The existing research is generally based on the narrow financial concept of "Finance on capital" or "assets on assets",which is difficult to realize the overall allocation and stock optimization of the increment and stock of financial resources in higher education.Based on the concept of generalized finance,this paper makes an in-depth theoretical and Empirical Analysis on the relationship between increment and stock.Taking the universities directly under the Ministry of education as a sample,this paper obtains the investment elasticity of fixed assets and the regular expenditure elasticity of various assets of higher education through empirical analysis for the first time,and analyzes the influence of factors such as the number of students,the number of teachers,the city where they are located,the type of universities and the level of universities,The key factors and problems affecting the allocation of financial resources are found.It provides a method reference based on theoretical and empirical analysis for scientific decision-making and reasonable prediction of stock and incremental total allocation,and realizing the overall allocation and stock optimization of financial resources of higher education.3.It provides theoretical guidance for solving the dilemma of property rights of financial resources in higher education."Unreasonable control right" is the root cause of the problems such as idle waste,repeated purchase,ineffective adjustment and insufficient sharing of the stock assets of higher education.The existing research is not deep and detailed enough for the application of the latest development of property right theory and insufficient guidance for solving practical problems.Using the property right(control right)theory,this paper analyzes the budget management mode between the government and colleges,colleges and departments in the process of budget management,and analyzes the control right in the formation and use of assets in the process of asset management,so as to provide more solid theoretical guidance for solving the property right dilemma of higher education financial resources,establishing incentive and restraint mechanism and constructing higher education financial governance system.