论资本成本理论的拓展

Discussing the Development of Capital Cost Theory

资本成本是特定主体为取得和使用资本而发生或应当发生的经济利益的总流出。在工业经济时代,资本主要是指财务资本,而在当今知识经济时代,最重要的资本是人力资本,财务资本是实现资本创造价值的条件。在会计上已提出建立人力资本会计,而在财务上还没有人提出将人力资本成本挪入到资本成本中去,从而造成资本成本理论的不完善。文章针对此问题,提出拓展资本成本内涵,完善财务理论。

The capital cost is the total outflow of a firm＇s economic profit in order to obtain and use capital. In the industry - based econo- my era, financial capital is the main capital. But in the age of knowledge - based economy, human capital is the most important capital. Financial capital is the condition of creating value. The request of building human capital accounting is proposed in accounting theory. But in the financial theory, no research is about moving human capital cost into capital cost. So the content of capital cost is not consummate. In the paper, the content of capital cost and the financial theory is developed.