基于CAPM的人力成本计量模型研究

Research on Model of Human Capital Cost Measurement Based on CAPM

在人力资本产权理论下,二元资本结构已被考虑了人力资本的三元资本结构所取代,合理计量人力资本成本成为企业管理的迫切要求。本文把人力资本分为五大类型,在类型范围内计量个体人力成本,并对资本资产定价模型(CAPM)进行两个层次的修正,构建了考虑风险因素的人力资本成本计量模型,该模型对现代企业人力资本成本的合理计量具有指导作用。

According to the theory of human capital property right,the dual-capital structure of enterprise has been gradually replaced by the tri-capital structure including human capital.In this case,an exact and reasonable method to measure the human capital cost is urgently required.In this paper,human capital has been divided into 5 different types and individual human capital cost can be easily measured according to its type.Based on amended human capital assets pricing models（CAPM）,a new human capital cost measurement considering risk factor has been proposed,which has avoided the defects of traditional human capital measurement cost.The model can play a directive role on human capital cost measurement.