Performance Evaluation Of Financial Investment In Higher Education

The Third Plenary Session of the Party’s eighteen has adopted the document of the“CPC Central Committee on deepening reform of the overall number of major issues”,stating that the “government purchased services should be promoted, that everytransaction management services should introduce competition mechanism in principle,buying from the community by contracts, commission and so on ", then pushing the"government procurement of services "," The introduction of the third-partyintermediaries assessments "to a new climax. At present, in addition to private collegesand universities, colleges and universities in our country generally exists the problem of"owner absence". As the educational resources are limited, the contradiction betweenthe limited funding and infinite demand for funds has become increasingly sharp. Thelow capital efficiency and irrational allocation of financial education resources andcountless other problems.A third party-based evaluation of the performance of financial investment in highereducation is a new topic in recent years. At present, our country has not yet formed a setof perfect mode of the third-party evaluation containing assessment procedure, indexsystem and evaluation method, the application of evaluation results, the identification ofindependence and risk and so on. Some existing research is basically to use the nationalor provincial data of blanket as the object of evaluation, instead of the data of eachcollege in districts, and it is not an independent evaluation from the angle of the thirdparty, which will weaken the purposiveness and effectiveness of the evaluation results.Based on the above considerations, this paper takes the Professional Companyevaluation model as an example, exploring the mode innovation and indicesreconstruction of the problem of performance evaluation of higher education financialinvestment from an independent third party perspective. The main results are as follows:(1)Building a third party evaluation model including the mode selection, index system,evaluation method, evaluation process, risk and independence analysis;(2) Constructingan index system of the performance of higher education finance investment based on theDEA, and launching from the efficiency, effectiveness, sustainability and the greenangle, that green is a innovation of this article;(3) Setting a single school as the sampledata, this article calculates and analyses the performance value and scale inefficient and redundant input or output deficiency condition of17ordinary undergraduate college ofZhejiang province;(4) Some suggestions for the policy of the fiscal expenditureperformance-oriented appropriation, accountability system, the implementation of theflexibility of the fiscal expenditure performance are included, especially for theformulating of the third party-based evaluation standard, the confirming of the subjectof evaluation, the supervision and management or other demanding prompt problems.Of the research method, firstly this paper takes the method of literature andinvestigation in combination with the analysis of the financial investment on highereducation performance evaluation theory, expounding the basic theories of the thirdparty evaluation. Then, in the empirical analysis section, the paper uses the method ofthe principal component analysis (PCA) to screen the key performance indicators, withDEA method to measure efficiency. Then the indicators of efficiency, profitability andsustainable development, greenness are handled dimensionlessly using efficiencycoefficient method, thus it comes up with a final total of the performance.