Abstract：Based on the academic and social dual logic of first-class discipline construction, this study explores the impact mechanism of funding on the first-class discipline construction level, and analyzes optimal allocation paths. Specifically, through the multiple intermediary effect test of 59 first-class discipline construction universities in China from 2009 to 2019, this study finds that funding can significantly improve the first-class discipline construction level, which is mainly achieved through intermediary paths of the discipline construction team and platform under the academic logic; government support under the social logic can promote the first-class discipline construction level, but the influence of social needs is not significant; on the whole, there are insufficient funds in intermediary paths, but there are great differences in the proportion of optimal allocation and adjustment directions among universities. Therefore, first-class discipline construction universities should optimize fund allocation and improve the discipline construction level by improving the distribution system of teachers′ performance salary, optimizing fund allocation for high-level talents, striving for special fund support and improving the flexibility of project fund management.
