风险背景下教育金融投融资决策机制的模拟实证

Simulation Empirical Study of Investment and Financing Decision of Financial Education at Risks

分成制教育金融的决策机制是分成制教育金融理论的关键环节。三种决策方法表明:收益、收益率、分成率都可以作为决策依据,但相比而言,收益更适合作为教育金融契约潜在双方是否签约的核心指标和依据。收益率、分成率则更适合作为谈判时的操作性指标,而相较而言,分成率的操作性更强。由于人力资本积累风险、市场风险、信用风险的存在,往往使投资者的操作性指标获得一个溢价。如果能采取有效方法对各种风险加以管理和消解,就会增加谈判指标的弹性,使投融资双方获得一个更大的谈判空间。实证举例,有利于推动教育金融理论的研究和实践。

Decision-making mechanism of Financial Education is important to Financial Education Theory. Three decision-making methods show that revenue, yield, divided rate can be used as basis for decision-making, but the income is more suitable as a core indicators to whether educational potential financial contract is signed by both parties or not. Yield, divided rate are more suitable as operational indicators to negotiations, but divided rate is most suitable in three indicators. However, due to the existing of human capital risk, market risk, credit risk, operational indicators can get a premium. If we can take effective methods to manage various risks, it will increase the bargaining indicator of flexibility to enable the investment and financing both sides to negotiate access to a larger space. Empirical example will help promote Financial Education in the theoretical study and practice.