Research On Investment And Efficiency Of Higher Education In Liaoning Province

Human capital is an important factor affecting economic growth.Higher education is the main source of the increase in the level of human capital stock.Recent years,Liaoning province's investment in higher education has also increased gradually.From 2004 to 2017,the investment increased from 27 billion to 96.5 billion RMB,which increased by 2.57 times.This has led to new thinking: whether the massive investment in higher education can be fully transformed into the corresponding effective output.That is,how efficient is the investment in higher education in Liaoning Province? This is an important theoretical and practical issue with important theoretical and practical value.This paper takes Liaoning province as the research object and introduces current situation of higher education in detail.In terms of empirical analysis,we set up five input indicators,six output efficiency indicators and select data from 2004 to 2017.The principal component analysis method and DEA analysis method are used to explore the input-output efficiency of higher education.This provides references and direction for the development of higher education in Liaoning Province.The article is mainly carried out from the following aspects: Firstly,the research background of this paper is put forward,and the literatures of researchers are summarized.Secondly,the three theories applied in the article are discussed,namely,education resource allocation theory,input-output model,DEA measurement model.They provide a theoretical basis for the following analysis.Thirdly,the status quo and trend of higher education investment in Liaoning Province are described and analyzed.Fourthly,an empirical analysis of the investment and efficiency of higher education in Liaoning Province is conducted.Finally,it is the conclusions and policy recommendations of this article.The main conclusions of this paper include: Firstly,from the perspective of DEA effectiveness,the utilization of resources in Liaoning Province in 2004,2005,2006,2011,2015,2016,DEA is effective,but in 2007 to 2010,2012,2013,2014,2017,DEA is not effective,there is a waste phenomenon and the investment of educational resources should be effectively utilized;Secondly,from the perspective of scale efficiency,most of the years showed an increasing scale efficiency in 2004-2009,2011,and 2013-2016.When the investment in higher education in Liaoning Province increased,the proportion of output increased.Therefore,in order to obtain greater educational output,the proportion of educational investment can be appropriately increased while paying attention to the rational use of educational resources.In some of the following years,such as 2010,2012,and 2017,the scale efficiency shows a declining state opposite to the previous one,and the proportion of output increase is smaller than the proportion of input increase.An increase in input may reduce the efficiency value.Thirdly,from the perspective of input redundancy,the input redundancy values in 2004,2005,2006,2011,2015,and 2016 are positive.In these years,the investment in educational resources can be appropriately increased to promote production.In 2007 to 2010,2012,2013,2014,2017,the input redundancy value is negative,there is a certain redundancy,and the input should be reduced to a slightly smaller target value.In these years,the investment of Liaoning province in higher education has not been fully utilized,and there is a certain amount of waste of resources.Fourthly,in terms of insufficient output,in 2009,2013,2014,and 2017,the output of award indicators is insufficient.Correspondingly,the policy recommendations are: Firstly,the relevant state departments should establish a database of input data and output efficiency data of universities,and provide accurate information for the evaluation of the efficiency of higher education.Secondly,relevant national departments should establish effective efficiency evaluation.The system provides guidance for the provinces and cities to improve the resources utilization of higher education.Thirdly,the internal control mechanism of each university should be further established and improved,the investment and output of education should be followed up,and the financial funds,equipment and teachers should be invested to a more suitable place,avoid waste of educational resources,and reduce input redundancy.The possible innovations of this paper are based on the four dimensions: DEA effectiveness,scale efficiency state,input redundancy and output deficiency.The comprehensive and in-depth analysis of the investment efficiency of higher education in Liaoning province is carried out to comprehensively evaluate the efficiency of education.The problem provides an actionable analysis method.The shortcoming of this paper is that it has certain subjectivity in the selection of higher education output indicators,and in the future it needs to strive to find more scientific and objective indicators both in work and study.