THEORY AND PRACTICE OF THE FINANCIAL REGULATION RELEVANT TO INNOVATIVE DEVELOPMENT OF HIGH SCHOOL

The consensus in the high school is valued by how much we invest in human capital which is determinant of efficiency. High school is a pillar contributor to productivity growth. There is evidence that innovation is a key player in nurturing technology change. In today’s knowledge based economy, It becomes more evident that investing in human capital has greater return for university and corporation which is more effective than that of physical assets. Simultaneously, the conceptual fundamental of human capital is based on knowledge, skills, competencies, and tools that are developed through coaching and learning activities provided by the concerned institution. This paper intend to tackle and to develop separate positions of the theory and practice of financing the innovative development of higher education (IDHE) toward the formation and development of the national economy of knowledge. Furthermore, it examines the retention of the increased globalization of higher education, while state financial obligation is in decrease, which leads to greater distinction among universities in respect of financial support and security. Financial support should be a priority to support the innovative development of higher education.