Performance Analysis of Public Investment in Chinese University Education Based on Regional Differences and Influencing Factors

The main purpose of the research is to assess the current condition of public investment in higher education in various regions of China and identify the elements that influence the effectiveness of public investment in higher education. The objective is to propose recommendations for enhancing the performance management of public investments in higher education, balancing the financial expenditures of higher education in various regions, and fostering sustainable economic and social growth. This article presents the academic research findings of relevant researchers on higher education, public investment, performance, and educational performance, as well as performance management, public finance, regional economic growth, new public management, and human capital. Using the DEA data envelopment analysis model and the panel Tobit regression model, this article empirically analyzes the regional differences and influencing factors of the comprehensive efficiency (including pure technical efficiency and scale efficiency) of public investment in higher education in China from both dynamic and static perspectives, based on 29 provinces and cities and relevant statistical data from 2005 to 2017. Based on an analysis of current public investment in higher education in the eastern, central, and western regions of China, the article demonstrates that while the total amount of public investment in higher education has increased year by year, there are still significant differences between the total amounts of public investment in higher education in the eastern, central, and western regions. The scale of public investment in higher education is higher in the eastern region and lower in the central and western regions. Regarding the performance level of public investment in higher education, there is a significant gap among the three regions of eastern, central, and western China, with the central region being the highest, the eastern region being the second highest, and the western region being the lowest. There are differences in the factors affecting the performance of the public investment in higher education in the East, Central, and West. The Tobit panel regression model analysis shows that per capita regional GDP, human capital level, urbanization level, and the efficiency of public education in higher education are all positively correlated. In contrast, the student-teacher ratio and government financial resources are adversely correlated. Distinct variables influence Eastern, central, and western areas geographically. The article concludes with a summary of the research findings and policy recommendations, namely, improving the performance evaluation system of public investment in higher education, increasing government investment in higher education, balancing the financial expenditures of higher education in different regions, accelerating the reform of the higher education investment system, and expanding the sources of public investment in higher education.