人力资本产权实现方式与公司绩效的内生性因素研究

Study of Endogenous Factors between Realization Approaches for Human Capital Property Right Based an the Corporate Performance

随着人力资本对经济效益和公司绩效的影响越发显著,人们越发重视人力资本对公司绩效的影响。基于内生性因素视角下对人力资本产权实现方式与公司绩效的影响进行的研究表明,人力资本产权实现方式驱动公司绩效的因素主要有雇佣薪酬、股权性收益、参与权、控制权,公司绩效影响人力资本产权实现方式选择的因素则有增长机会、行业竞争程度、公司规模和生命周期等。研究进一步显示:将人力资本产权实现与公司绩效相关关系具体化,可以找出更具经济效益的人力资本产权实现方式,从而促进公司绩效的提升。

As human capital increasingly influences the economic benefit and corporate performance, it attracts more attention now. From an endogenous perspective, the relationship between realization approaches of human capital property right and corporate performance is studied. The result presents that factors of realization approaches that drive the performance include employee remuneration, earnings of stock rights, participation rights, control rights; whereas the forces of corporate performance that affect the selection of the approaches in- clude growth opportunity, industrial competition degree, company scale and life cycle. The study further proves that detailing the relations between the realization approaches and the corporate performance may help find out a more economically efficient approach for the improvement of corporate performance.