以EVA为内核的人力资本产权激励制度研究  

Researching on the Incentive System of Property Rights of Human Capital Centered on EVA as the Kernel

作　　者：张志宏[1] 段兴民[2] 

机构地区：[1]西安交通大学 [2]西安交通大学管理学院

出　　处：《南开管理评论》2004年第5期77-80,86,共5页Nankai Business Review

基　　金：国家自然科学基金项目(70002007);教育部人文社会科学研究"十五"规划项目(01JA630034)资助

摘　　要：人力资本所有者凭借其贡献获得企业报酬并合理分享企业所有权是国内外公司治理领域的热点,但人力资本的价值计量难题成为对人力资本进行产权激励的制约因素。本文以公司价值管理的绩效评价指标EVA为核心,构建了总体人力资本的动态价值、“分割价值”系列模型;通过平衡记分卡(BSC)系统,结合层次分析法(AHP),计算出人力资本个体的综合相对价值,从而设计出业绩薪酬和以股权激励为主体的长期激励方案。They are hotspots of corporate governance's field at home and abroad that owners of human capital obtain corporate pays and properly share ownership of corporation relying on his contribution, but the puzzle of measuring value of human capital becomes restricted factor of making property rights' incentive to human capital. EVA that is an index of performance evaluated of corporate value based management being made core, this paper builds serial models about dynamic value and separated value of total human capital; figures out synthetic relative value of personal human capital by using the system of balanced scorecard and making use of the method of analytic hierarchy process (AHP), thereby works out performance-related pay and long term incentive scheme that shares rights' incentive is taken as main body.

关 键 词：EVA 经济增加值 人力资本价值 AHP 层次分析法 BSC 平衡记分卡 绩效评价指标 产权激励 

分 类 号：F224[经济管理—国民经济]