创业企业家的人力资本管理激励

Venture Entrepreneur Human Capital Management Incentive

创业投资中的人力资本对创业企业成长贡献越来越大,充分发挥创业企业家人力资本的作用是创业投资成功的关键因素,人力资本管理激励已经成为控制创业企业投资风险的主要手段。文中深入分析了创业企业家的人力资本特性:特殊重要性、较差担保性、产出主观性和逐步显现性,基于企业家的这些特性以及绩效的股份调整、采用分阶段投资与可转换优先股、剩余索取权、股票期权、声誉的需要等探讨了创业投资中的人力资本管理激励。

The contribution of human capital to venture enterprise is getting increasingly great. And the key factor of venture capital success is to bring the function of human capital of entrepreneur into full play. Human capital management incentive becomes the main manner that can control investment risk. The paper analyses characteristics of human capital of entrepreneur that are especial importance,less security,output subjectivity and emerging step by step. And based on these,it makes a study on human capital management incentive mechanism of venture capital from many points of view, such as adopting stock adjust based on performance, staging of venture capital investment, convertible preferred stock, surplus demand right, stock option, reputation mechanism.