高校预算软约束的制度成因及其治理

A wide range of financial distress has emerged in Chinese higher education sector, and this paper aims to explain it. We pointed out that soft budget constraint is the root cause of the financial distress; our main tasks are to identify the institutional causality of soft budget constraint and its applications for governance. We concluded three institutional causalities: quasi-public goods nature of higher educational serves; affiliated relationship between government and colleges; misaligned of the objection-incentive arrangement for college chairman. Based on the above three points, we provided some solutions to hardening the budget constraints.