我國私立大專校院財務預警指標之建構與應用

The Construction and Application of a Financial Warning Indicators for Private Universities and Colleges in Taiwan

隨著少子女化效應向上延伸，臺灣私立大專校院的經營危機也逐漸浮出檯面。從2014年至2020年，已有6所私立學校陸續走上退場之路，遂讓外界開始關注私立學校經營狀態，進而發現目前國內的確缺少一套能清楚呈現私立大專校院財務情形的預警系統。因此，本研究旨在參考美國實務經驗，並運用教育部「大專校院校務資訊公開平臺」數據來計算我國私立大專校院綜合財務指數，藉此辨識財務卓越學校與危機學校。研究結果指出，本文所提出的四個財務預警指標（包括可用資金比率、生存率、淨資產投資報酬率，與淨營業收益率）以及綜合財務指數在臺灣也具有辨識度與預測力；且經實際運用後發現，國內私立大專校院已有三成比率在個別財務指標上表現不佳，兩成比率在綜合財務指數上表現堪憂，值得各界持續關注。最後根據研究發現，除建議主管機關可運用綜合財務指數落實共同治理和分級監管目標之外，也鼓勵大學經營者將本研究所發展的四個財務預警指標和依不同權重合併後的綜合財務指數納入校務研究分析模式中，藉由自我檢視、長期分析和不斷改進來提升學校辦學成效。

As the declining birthrate begins to have an impact on higher educational levels, private universities and colleges in Taiwan have gradually begun to experience an operational crisis. Six private universities or colleges ceased in turn to operate from 2014 to 2020, which drew public attention to the financial situations of private universities and colleges, and made us further aware of the need to develop a financial warning system that would reflect the current financial situation in Taiwan. Therefore, this research study looks at some of the relevant practical experiences undergone in the U.S., and utilizes data from the Information Disclosure Platform for College and University Affairs set up by the Ministry of Education in Taiwan to calculate the Composite Financial Index of local private universities and colleges for identifying each institution's financial status as being either excellent or in a state of crisis. The test results indicated that the early warning financial indicators, including the ratio of available funds, the viability rate, the return on net assets ratio, and the net operating revenues ratio, developed from this research and the Composite Financial Index in universities, were recognizable and predictable. In addition, the research further utilized the indicators to analyze the data and found that 30% of the private universities and colleges were performing not so well in each financial sector, and that 20% of private universities and colleges also performed not so well according to the composite financial index. According to research findings, competent authorities could utilize the Composite Financial Index in universities in order to realize the goals of co-governance and hierarchical supervision. Furthermore, the research encouraged operators in universities and colleges to incorporate the four early warning financial indicators and the Composite Financial Index after consolidating them into an analytical model of institutional research, in order to enhance their performance through self-examination, long-term analysis, and ongoing improvement.