摘要
利用一个调整的经济附加值模型,对我国A股市场信息技术产业上市公司2005年～2006年度的人力资本额外贡献值进行计量;在此基础上,利用修正的Ohlson模型对企业价值和人力资本额外贡献的关系进行检验。实证研究结果表明:财务资本与人力资本对于股票市价的相关性呈现相反的方向,并且具有较显著的相关关系,财务资本的规模与市价具有负相关关系。
By using an adjusted Economic Additional Value Model, this thesis measures the additional value of human capital＇ s contribution to the listed IT corporations in Market A during 2005 and 2006 ; and then based on this, we check the relationship between human capital＇ s output value and enterprise＇ s value in reference to the revised Ohlson model. The result of the empirical study suggests that financial capital and human capital have opposite correlation with stock price, and this correlation is significant. The size of financial capital bears a negative correlation with stock price.
出处
《广东商学院学报》
北大核心
2009年第1期79-83,共5页
Journal of Guangdong University of Business Studies
关键词
人力资本
额外贡献
企业价值
human capital
additional contribution
enterprise value
