摘要
我国民办高校上市融资行为经历了限制资本介入、向资本市场开放和分类管理提供政策空间三个不同阶段的制度环境演变。在实践探索中主要采用“借壳上市”、上市企业投资创办或兼并收购民办高校以及“协议控制”三种模式达到上市目的。上市有利于民办高校拓展融资渠道、提升办学声誉、提高治理水平和促进内涵发展,但也潜藏着政策法规风险、办学质量风险和治理结构风险。稳步推进分类管理制度改革、加强教育质量保障机制建设和多方联动建立综合执法机制,是引导与规范我国民办高校上市融资行为的可行策略。
Financing by listing on the stock market for non-governmental institutions of higher learning has experienced three different states of institutional environment evolution in China:restricting capital market intervention,opening up to the capital market,and providing policy space for classified management.In practical exploration,three modes have been mainly adopted to achieve the goal of listing:“backdoor listing”,listed enterprises investing in the establishment,or merging and acquiring non-governmental institutions of higher learning,and VIE model.Listing is beneficial to non-governmental institutions of higher learning to expand financing channels,enhance reputation,improve governance and promote connotation development.However,there are also potential policy and regulation risks,school quality risks and governance structure risks.Steadily promoting the reform of classified management system,strengthening the construction of education quality assurance mechanism and establishing a comprehensive law enforcement mechanism are feasible strategies to guide and regulate the listing and financing behavior of non-governmental institutions of higher learning in China.
作者
周朝成
韩晓敏
ZHOU Chaocheng;HAN Xiaomin(China Non-governmental Higher Education Research Institute,Zhejiang Shuren University,Hangzhou,Zhejiang,310015,China)
出处
《浙江树人大学学报》
2022年第6期20-26,83,共8页
Journal of Zhejiang Shuren University
基金
浙江省哲学社会科学规划课题(19NDJC264YB)
关键词
民办高等教育
民办高校
上市融资
制度变迁
风险防范
non-governmental higher education
non-governmental institutions of higher learning
financing by listing on the stock market
institutional change
risk prevention