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篇名 國立大學校務基金之資產配置與投資分析
並列篇名 The Asset Allocation and Investment Analysis of National University Fund
作者 范麗雪
中文摘要 各國政府對高等教育經費的裁減已經深刻地影響了高等教育發展。台灣也不例外,為了紓解財政緊縮的壓力與落實大學自主,國立大學於1996學年度開始實施校務基金制度,並於1999年制訂「國立大學校院校務基金設置條例」,期使透過此制度能建立大學財務經營的理念。本文檢視2002~2007年度「國立大學校院校務基金平衡彙總表」發現,53所國立大學的資產中,短期投資與長期投資金額的比例很低,大部分學校都將資金存放於銀行定存,缺乏資產配置效率。鑑於此,本文分析國內大學校務基金之投資現況,並以投資模擬的方式,模擬四種基本的投資策略及提出策略意涵,提供大學除了銀行定存之外的其他投資選擇,以做為國內各大學校務基金運用與規劃之策略參考。本文認為,在全球化的教育競爭下,國立大學應對校務基金進行良好的規劃與投資配置,以積極的管理行為來提升校務基金的經營績效。
英文摘要 The decline of government support for higher education has impacted on universities’ development in the world. In order to mitigate the burden of government expenditure and improve the university’s management, national universities in Taiwan have implemented the system of university fund since 1996. Therefore, this study investigates the management of current financial resources of the universities in Taiwan, especially in investment analysis of national university funds. After reviewing the financial statements of 53 national universities in Taiwan from 2002 to 2007, most of the university funds were invested in time deposit of bank. Besides, the ratio of short-term investment and long-term investment are extremely low, which shows the conservative asset of allocation policy of university funds. This study analyzes the income and allocation of the university funds and simulates four investment strategies, which can be an alternative investment selection. For improving the aggressive management of the university funds, we also discuss the implications of these four strategies. The main argument of this study is that we can enhance the performance of the university funds by making sound asset of allocation policy and active management.
頁次 39-65
關鍵詞 大學財務 university fund investment analysis university finance 校務基金 投資分析
卷期 4:1
日期 200906
刊名 高等教育
出版單位 台灣高等教育學會