The Investigation And Study On Universities' Financial Information Disclosure System

With the continuous reforms of our national public institutions,universities are transformed from sole government-led pattern to diversified patterns,which means higher education has achieved a great leap forward.The governance structure,talent cultivation,personnel system,scientific research system,and especially financial information are increasingly restricted and supervised by the authorities,different stakeholders like the public,teachers,workers,students,parents,donors,media,and so on have different needs for funding risk,operational risk,and financial risk of universities.The timely and effective disclosure of financial information in universities not only can safeguard different stakeholders' rights to learn the truth and supervise others,stakeholders can make decisions more accurately,but also it can help universities discovering problems in time,conducting financial governance and bringing in more economic and social benefits.The 112 universities belonging to the "211,985 Projects",which take the lead in the scientific research and in the field of education,are playing an exemplary role in the disclosure of financial information.Based on the study of three theories,relevant national policies and seven principles,this article sets 112 universities belonging to "211,985 Projects" as subjects,and sets system construction,active disclosure and security of the three first-level projects and the 27 second-level projects like information disclosure web construction etc.as the investigation content to carry out the investigation of the information disclosure platforms for universities.Based on the survey data,the author establishes the index system and provides quantitative analysis of quality of the university information disclosure system,finding that low-quality information,low-level website construction and few conducting details are the most problems among universities.In conclusion,drawing lessons from developed countries' mature information disclosure system,we can improve our university information disclosure system from different aspects,such as strengthening theguarantee of legal system,stating the implementation details clearly,improving the level of web construction and so on.The publication of the Information Disclosure Methods for Universities in 2010 and the publication of the List of Public Items in Universities in 2014 have promoted the pace of financial information disclosure in universities,and different universities more or less disclosed the financial information.However,the disclosure of financial information in universities is in its infancy,and there are still many problems in the process.Through the investigation and quality evaluation of the financial information disclosure of 112 universities belonging to "211,985 Projects",the author lists the best ones doing well in the disclose process to serve as examples for other universities and hopes to provide reference for our government to polish up the university financial information disclosure system.