论人力资本投资及其激励性体制

在对人力资本投资的特征和形式进行理论梳理的基础上 ,本文对人力资本投资领域沿用的物质资本投入“谁投资 ,谁受益”的理念和教条提出了质疑 ,并构建了以人力资本的资产专用性、人力资本收益的外部性、人力资本投资的风险性、人力资本投资主体的负担能力和控制能力、以及现有的制度遗产和创新空间等为逻辑基础的“谁受益 ,谁投资”的人力资本投资激励体制 ,并进一步对其公平与效率问题进行了讨论。

Human capital investment and its incentive system

The features and forms of human capital investment are summarized, the traditional doctrines and myths typically expressed as "whoever pays gains" in the field are treated with a grain of salt, a brand-new incentive system of human capital investment of "whoever gains pays" is established, which is logically based on the capital appropriative character of human capital, the exteriority of human capital revenue, the risk of human capital investment, the burden and control capacity of human capital investor, and the existing institutional heritage and innovative room as well. Furthermore, the equitableness and effectiveness of human capital investment is addressed.