| Ulrich Beck and Antony Giddens formulated the relationship between risk and modern society and its institutions in the point of view of modernization. Risks emerge with the institution change. And the main method of Guarding against and reducing risks is erecting and perfecting institutions. The current financial risks in Chinese colleges and universities are related to their own institutions and institutional environment.The current financial risks in Chinese colleges and universities have 3 typical styles. The 1st style is risk of high liabilities which caused by rapid expansion of colleges and universities.2nd style is risk of operating which caused by the chaos of management.3rd style is risk of investing which caused by abusing market mechanism.The institutional causes of the current financial risks in Chinese colleges and universities include 4 types. The defect of Reform of High Education is the root. The bad risk awareness of management roles just reflected the chaos of institutions. The abnormality of the method of intermediated financing leads to structural risk of income. The imperfect of institutions of Chinese colleges and universities made them not manage the risks effectively.Guarding against and reducing risks in Chinese colleges and universities need macro and micro methods. In the macro field, to continue deepening the reform is the only way, which need to stop the policy of Education Industrializing and to strengthen the sociality and publicity of colleges and universities, and need to clarify the autonomy and rights of colleges and universities in order to strengthen its independency. In the micro field, we need to strengthen financial management and made it be the breakthrough point in order to erect the modern university institution. These aims require strengthening and perfecting budget system, argumentation system of intermediated financing and investment, financial target management system, and rationalizing capital structure. |
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