Research On Financing Efficiency Of Education Industry In China

To a certain extent,education determines the future of the country and is of decisive significance for the great rejuvenation of the Chinese nation.Therefore,both the state and the public attach great importance to the development of the education industry.At the same time,the educational product is actually a long-term product,which needs to be accumulated slowly to gain public recognition.However,if an enterprise wants to expand in a short time,it must embark on the road of large-scale expansion.Because of its unique educational attributes,enterprises in the education industry often encounter many difficulties in the process of expansion.These difficulties become one of the important reasons that hinder their further development.Based on this background,this paper tries to use DEA model to analyze the financing efficiency of China's education industry,and on this basis,gives some suggestions to further improve the financing efficiency in the future.The meaning of financing efficiency discussed in this paper focuses on the following three aspects: Firstly,the expression of financing efficiency in "quantity" refers to whether enterprises can use the lowest possible cost and risk to finance the funds needed for development in time,that is,the ability of enterprises to obtain funds.Secondly,the financing efficiency of enterprises is also shown in the aspect of "quality",which refers to whether the funds financed by enterprises can be effectively utilized,that is,the level of the ability of enterprises to use funds.Thirdly,we should not view the efficiency of enterprise financing statically and singly,but evaluate the efficiency of enterprise financing from a dynamic and comparative perspective.Firstly,this paper elaborates the present situation of financing in education industry in China from three aspects: the analysis of financing scale,the analysis of financing structure of education industry and the analysis of subdividing industry of education industry,and discusses the financing dilemma of education industry in China from two aspects: internal and external causes.In this paper,data envelopment analysis(DEA)is used to select panel data of 28 educational enterprises in Shanghai and Shenzhen Stock Exchanges.Three input variables and three output variables are selected for the four years from 2015 to 2018.The empirical analysis is carried out by using DEAP software.Through empirical analysis,we get the effective ratio of technical efficiency,pure technical efficiency and scale efficiency in each year of the research interval.Finally,we find that: firstly,the overall financing efficiency of Chinese educational enterprises is not high;secondly,the financing scale of some educational enterprises does not match the pure technical level;thirdly,the enterprises that fail to achieve comprehensive efficiency are mostly in the stage of increasing returns to scale.The last part of the paper,based on the previous numerical analysis,tries to put forward some suggestions for the financing dilemma of enterprises in the education industry: firstly,from the enterprise's own level,we should comprehensively improve the quality of enterprises in the education industry;secondly,from the financial market level,we should comprehensively promote the development of financial services in the education market;finally,from the government level,we should give them.Education industry enterprises,especially small and medium-sized enterprises in education industry,have certain policy support.It is believed that through the joint efforts of enterprises themselves,financial market and government,the financing efficiency of enterprises in education industry will be significantly improved.