企业技术资本和人力资本关系的实证分析——来自沪深两市高端装备制造公司的财务数据

An Empirical Analysis of the Relation between Enterprise Technology Capital and Human Capital——Based on the Financial Data of High-end Equipment Manufacturing Companies from Stock Markets of Shanghai and Shenzhen

运用2007—2011年中国上市高端装备制造业企业的数据,根据企业要素资本之间可以适量替代的财务规则,对企业的要素资本替代机制理论进行实证检验。初步研究结果表明,在中国的上市高端装备制造业企业中,技术替代人力的程度远远大于机器设备替代人力的程度。

This paper,based on the data （from 2007 to 2011）of listed high-end equipment manufacturing companies,conducts empirical tests on the possibility of element capital substituting for the mechanism theory. The result of pilot study shows,among Chinese listed high-end equipment manufacturing companies,the extent of technology substituting for manpower far exceeds that of machinery for manpower.