知识型企业纳入人力资本的资本结构分析  

Analysis on the Whole Structure Including Human Capital in Knowledge Enterprises

作　　者：佟爱琴[1] 朱志敏[1] 吴泗宗[1] 

机构地区：[1]同济大学经济与管理学院,上海200092

出　　处：《科学学与科学技术管理》2008年第1期188-191,共4页Science of Science and Management of S.& T.

摘　　要：当今社会已经迈进以人力资本为核心的知识经济时代,人力资本已成为知识型企业价值的主要贡献要素,没有考虑人力资本的传统资本结构理论已显滞后。以现有财务资本结构的研究和现代企业理论为基础,将人力资本纳入知识型企业的资本结构,分析了人力资本、股权资本和债权资本三者投入量的增加对企业产出剩余的影响,并认为当债权资本处于一定范围内时,人力资本投入与债务正相关;当债务达到一定程度时,人力资本投入则与负债负相关。The contemporary society has already moved forward to the knowledge-based economy age that takes human capital as its core, thus the traditional capital theories without considering human capital have been lagged. Based on the existing financial capital structure research and the modem enterprise theory, the paper brings human capital into the capital structure of intellectual enterprises, it analyses the impact of the increase of human capital, stock capita and debt capital, and points out that the input of human capital is positively related to debt when it is under a cerrain degree, and negative relation emerges when debt goes beyond that degree.

关 键 词：知识型企业 人力资本 财务资本 资本结构 

分 类 号：F240[经济管理—劳动经济] F27[经济管理—国民经济]