论我国高新技术企业股权激励与人力资本定价

Share Option Incentive and Human Capital Pricing in China's New High-tech Enterprises

人力资本是高新技术企业的首要资本,也是最稀缺的资本。将人力资本定价和股票期权激励相结合,提出了结合Black鄄Scholes期权定价方法和模糊综合定价方法的人力资本定价方法,使高新技术企业的人力资本定价能够更多地考虑到各方面因素,更为客观全面,从而使股权激励机制更为合理有效。

To get long-term incentive,ti its effective to adopt share option system from the vies of human capital.However,the key to effective incentive is to fix a rational price for human capital.Combining human capital pricing theory with share option incentive system as well as integrating Black-Scholes stock property pricing method with fuzzy comprehensive pricing method,the human xapital pricing approach in new high-tech enterprise will become more comprehensive,objective,effective and rational.