Human capital is opposite to material capital, and there is no unified view on the concept and definition of human capital. Most experts and scholars tend to use Schultz and Becker, the founders of human capital theory, to express the concept of human capital. Schultz believes that human capital is "people's ability as producers and consumers" and "human capital is a strict economic concept … it is a kind of capital because it is the source of future income or satisfaction". Therefore, we can define human capital as: the labor ability that is formed through human capital investment, placed on workers and can bring lasting income to their users, and is intangible capital in the form of a certain number and quality of workers. Generally speaking, workers' knowledge, skills and physical strength (health status) constitute human capital. This definition includes the following aspects:
(1) Human capital refers not to the workers themselves, but to their knowledge, skills and physical strength.
(2) The acquisition of human capital or the increase of human capital stock can only be formed through conscious human capital investment.
(3) Human capital is a kind of ability that can bring a lasting source of income, that is, human capital is productive as capital.
From such a concept definition, we can get the characteristics of human capital: first, the carrier of human capital is people, and human capital and its carrier can not be separated for a moment, which is the most essential difference between human capital and all other forms of capital; Secondly, human capital is the product of investment; Third, human capital can bring benefits to its owners and users, which is reflected in an income ability.
Question 2: Who is the scholar who first used the concept of human capital? Schultz was the first scholar to use the concept of human capital.
Schultz first put forward the theory of human capital and gave a new explanation to the driving force of economic development. In his long-term agricultural economic research, he found that the important reason for the rapid growth of agricultural output in the United States is not the increase of land, labor or capital stock, but the improvement of people's skills and knowledge. At the same time, he found that the sharp increase in wages of some workers was not explained. He attributed this part to the result of human input. Therefore, Schultz put forward the theory of human capital in 1960, and its central argument is that the improvement of human resources plays a much greater role in economic growth than the increase of material capital. In the same year, Schultz's speech on "human capital investment" at the 73rd annual meeting of American economics was called "* * *", which proved the great contribution of education to economic development.
The so-called human capital refers to the knowledge, technology, innovative ideas and management methods that laborers put into enterprises. Its main feature is that human resources naturally belong to individuals and can be traded. Enterprise is the contractual relationship between financial capital and human capital.
Question 3: The specific definition of human capital theory According to the definition, human capital management can be understood from two aspects, namely: 1. Human resource external factor management-quantity. The quantitative management of human resources is to properly train, organize and coordinate human resources according to human and material resources and their changes, so that the two can always maintain the best proportion and organic combination, so that people and things can give full play to the best effect. 2. The intrinsic element of human resources-quality management. Mainly refers to the use of modern scientific methods to effectively manage people's thoughts, psychology and behavior (including the coordination, control and management of individuals and groups' thoughts, psychology and behavior), and give full play to people's subjective initiative to achieve organizational goals.
Question 4: The main significance of human capital theory Among all the resources owned by human beings, human resources are the most precious and naturally become the core of modern management. Constantly improving the level of human resources development and management is not only the need of developing economy and improving market competitiveness, but also an important guarantee for the long-term stability of a country, a nation, a region and a unit. It is also an important measure for modern people to give full play to their potential, adapt to society and transform society. The main significance of human resource management is: 1. Through reasonable management, human resources can be lean and efficient, and the maximum use value can be obtained. And pointed out that the maximum use value of human beings = the maximum play of human effective skills. 2. By taking certain measures, fully mobilize the enthusiasm and creativity of employees, that is, give full play to people's subjective initiative. The survey found that employees who get paid on time only need to exert their 20%-30% ability every day, which is enough to keep their jobs. But if its enthusiasm and creativity are fully mobilized, its potential can be 80%-90%. 3. Cultivate people with all-round development. The development of human society, whether it is economic, political, military or cultural, has the ultimate goal of putting people first-all for their own development. Education and training are playing an increasingly important role in the development and management of human resources. Marx pointed out that education is not only the way to improve social production, but also the only way to cultivate people with all-round development. In fact, the significance of modern human resource management can be understood from three levels, namely, country, organization and individual. In fact, the national principles and policies such as "rejuvenating the country through science and education" and "improving the quality of workers in an all-round way" are related to the development and management of human resources in a country and a nation. Only when a country's human resources are fully developed and effectively managed can the country prosper and the nation revitalize. In an organization, only by seeking useful talents, rationally using talents, scientifically managing talents and effectively developing talents can we promote the realization of organizational goals and personal values. For individuals, there is a problem of developing potential, improving skills, adapting to society, integrating into organizations, creating value and contributing to society, which all depend on the management of human resources. We don't talk about human resource management from the macro and micro levels, that is, countries and individuals, but from the meso level, that is, for enterprise organizations. Therefore, pay more attention to the value and significance of modern human resource management to an enterprise. Here, I think the significance of modern human resource management to enterprises is at least reflected in the following aspects: 1. People, money, things, information, etc. It can be said that it is the main aspect of enterprise management, and people are the most important, living and first resource. Only by managing this resource well can we grasp the essence, procedure and outline of management. 2. Human resource management department. Man is not only an "object" to be managed, but also a "subject" with thoughts, feelings and subjective initiative. How to formulate scientific, reasonable and effective human resource management policies and systems and provide effective information for the decision-making of enterprise organizations has always been a topic for human resource management departments. 3. For the general manager. Any manager can't be a "universal messenger", but should play the role of "decision-making, guidance and coordination" for the work of subordinates. He not only needs to finish his business work effectively, but also needs to train his subordinates, develop the potential of employees and establish a good team organization. 4. For an ordinary employee. Everyone wants to master his own destiny, but what he is suitable for, what are the goals and values of the enterprise organization, what are the job responsibilities, how to effectively integrate himself into the organization, how to develop his own potential, how to play his own ability, and how to design his own professional life in combination with the organizational goals of the enterprise are all issues that every employee is very concerned about and deeply confused about. I believe that modern human resource management will provide effective help for every employee.
Question 5: The significance of human capital investment 1. From the constituent elements and effective production function of human capital, this paper analyzes the mechanism of human capital on economic growth. Human capital is an important factor to determine economic growth, and the key lies in its special production function. From the production process, it has two production functions: factor and efficiency. The former means that human capital is an essential prerequisite or input factor in the production process. The latter means that human capital is the key factor to improve production efficiency, and its way is:
(1) The increase of human capital investment can improve the production efficiency of human capital itself;
(2) Increasing human capital investment can improve the production efficiency of other production factors. On the one hand, as a factor of production, human capital directly contributes to economic growth, and at the same time promotes economic growth by promoting scientific and technological progress. Scientific and technological progress depends on the improvement of human capital, and technological progress is the fundamental reason why the scale return of human capital increases instead of falling. It can be seen that economic growth depends on the progress of science and technology and the increase of human capital (Li Jianmin, 1999).
2. Analyze the mechanism of human capital in economic growth from knowledge effect and external effect. The knowledge effect of human capital includes demand effect, income effect and substitution effect of knowledge progress. The demand effect of knowledge progress means that new knowledge useful for economic development needs new forms of material capital, or new labor skills, or even both. The knowledge income effect of human capital investment means that people with more knowledge and ability education and training will have higher productivity, because they have higher resolution and can seize the opportunity of profit from investment anytime and anywhere. The knowledge substitution effect of human capital first shows that we can increase resources through the progress of knowledge. Compared with various factors, the complementary and substitutive role of human capital is becoming more and more important. It is the substitution effect of knowledge that can overcome the shortage of natural resources, material capital and "primary labor" in economic development and maintain the sustainable development of the economy. The substitution effect of knowledge is also manifested in the fact that human capital can generate increasing income and eliminate the adverse effects of diminishing marginal returns of physical capital and other factors on long-term economic growth.
Robert? Lucas believes that what is gained from production and school education is general knowledge, and these human capital can produce internal effects, that is, the contribution of investors themselves to productivity. What is gained through "learning by doing" is specialized knowledge, which can produce external effect, also called spillover effect, that is, the contribution of factors other than investors to productivity. What is important is the external effect, which enables people's average skill level or human capital level to be transmitted from person to person. As a result, not only their own productivity has increased, but also the productivity of labor and material capital, and the income from production has increased. Explaining technological progress with the spillover effect of human capital shows that economic growth is the result of the continuous accumulation of human capital. Knowledge is a form of human capital, and human capital is the "engine" of growth —— from fx678 financial channel.
With the rise of the new economy, people's contribution to economic development is increasing, and people realize that manpower is also a kind of capital. With the passage of time, the role of human capital is becoming more and more important. Human capital will be the most important capital in any economic entity. Whether it is an enterprise or a country, it is necessary to create a growth environment for talents, give full play to people's potential, maximize the transformation of human resources into human capital, and vigorously enhance China's human capital.
Question 6: The difference between human resources and human capital The difference between "human resources" and "human capital"
HC Network August 26, 2005 8: 02 Source: hc360 HC Network.
These two concepts are a little exotic, although they have existed abroad for decades and have been applied well. But in China-even many enterprises that are "practicing" and many scholars who are studying-all have their own different perspectives and viewpoints. This article embodies the idea that the more arguments the better. I'll add a messy one, and do my best for the last * * *.
After China entered the market-oriented reform, great changes have taken place in the understanding and management of "people" within enterprises. A few years ago, the concept of "human resources" was introduced to China, and both the management and the business community are eager for this brand-new concept. However, when domestic enterprises just began to accept the concept of "human resources", "human capital" came again. There is only one word difference between these two concepts, so it is not easy to distinguish the essential difference literally, let alone judge whether they are equally good or equally bad.
In fact, the management concepts of "human resources" and "human capital" are the result of American economy and management. "Human resources" and "human capital", like many methods and concepts in economics and management, have not yet come to the final distinction between the superior and the inferior, and even this may not be a problem at all. They have their own applicable environments, but they also show obvious differences in some aspects.
First, the economic explanation of the difference between "human resources" and "human capital" and its significance
The difference between human resources and human capital lies in whether human resources are regarded as resources or capital. For the difference between resources and capital, you can give an example first.
There were 1 1 sandstorms in Beijing in 2000. Scientists have found that dust mainly comes from Inner Mongolia, and grassland desertification in Inner Mongolia is one of the fundamental reasons. An important reason for grassland desertification is that grassland, as an animal husbandry resource, is over-utilized and lacks protection. After the reform and opening up, the animal husbandry in Inner Mongolia began to break the "big pot" and adopted the policy of "guaranteeing production to households" similar to planting. But the difference is that farmers not only get the property rights of crops, but also get the right to use land; Herdsmen only get the property rights of herds, and the property rights of pastures (including the right to use) are completely owned by the state. As a result of this policy, herders only care about the direct benefits of grazing, without considering the "cost" of grassland. In other words, grassland is only an available resource (not capital) for herders, and the profit and loss of grassland has no direct interest relationship with herders. When deciding whether to expand the herd, herders only need to consider whether the marginal income is greater than the unit variable cost of each sheep, that is, when the marginal income is greater than the unit variable cost, herders have the motivation to expand the herd. Just like this, the result is the serious degradation and unsustainable development of grassland. Therefore, some economists suggest that we should learn from the experience of agriculture, delegate the right to use grasslands from the state to herders, and turn grasslands from "external" resources into "internal" capital of herders. In this way, there will be a fixed cost (grassland cost) in the cost of herders. When calculating his input and output, the herder must consider the loss of grassland and the opportunity cost of sustainable development, that is, only when "marginal income > marginal cost (including marginal fixed cost)+opportunity cost" will he have the motivation to expand his herd. So as to realize the optimal allocation of social resources.
The transformation of manpower from "resources" to "capital" is similar. When enterprises regard human resources as external resources, they will not have the motivation to consider the time and energy costs paid by employees while making contributions to the enterprise. Under the condition that the salary is basically unchanged, as long as the employee's marginal contribution is > 0, it will be satisfied. Theoretically speaking, enterprises have sufficient legitimate economic reasons to ignore the possibility of "overwork death" of employees in pursuit of the last penny's economic benefits.
The shortcomings of this mechanism are obvious. As far as the whole society is concerned, these costs incurred by employees are not fully displayed in the "books" of enterprise managers. Enterprises tend to only consider the explicit cost (salary) and ignore the implicit cost (extra expenses paid by employees) when using human resources, which is the first waste to the total social resources; On the other hand, a large part of employees' extra expenses (such as health losses) are transferred to social welfare accounts. As a kind of public expenditure, the efficiency of social welfare is inevitably low, which is of great significance to society ...
Question 7: Human capital in the financial sense In modern society, economic globalization has accelerated the demand of enterprises for all kinds of talents. More and more enterprises realize that the key to enterprise competition under the condition of market economy is talent competition. Therefore, enterprises should strengthen human capital investment, grasp the direction and focus of human capital investment, and obtain efficient return on investment. In China, state-owned enterprises play an important role in socialist construction and national economic development. Since the reform and opening up, although the overall strength of the state-owned economy has been continuously enhanced, the decline of the state-owned economy and the long-term large-scale losses of state-owned enterprises have become an indisputable fact. What are the reasons for the difficulties of state-owned enterprises? Therefore, at this stage, the discussion on human capital investment of state-owned enterprises in China will have more research value and far-reaching influence.
Question 8: What is the main content of human capital theory and what is the practical significance of this theory? The education situation in China is booming. But in the past 20 years, the investment in education has been insufficient. During the period of 1995, the proportion of education expenditure at all levels in GDP in China was about 2.5%. At the same time, China's investment in kind (for example, buildings, infrastructure and machinery and equipment) is relatively high, accounting for more than 30% of GDP. In the United States, the proportion of human capital and material capital investment is 5.4% and 17% respectively. In the same period, Japan's investment in education accounted for 3.6% of GDP, the Philippines for 3%, and the world average for 5.2%. The proportion of education investment in China from 65438 to 0995 is relatively low. From 199 1 to 2002, the proportion of China's education investment rose from 2.5% to 3.3%. At the same time, non-education investment increased rapidly, from 3.3% to 5.2%. In 2003, China's education input accounted for 5.3% to 5.4% of GDP, and material input accounted for more than 50% of GDP. Compared with other countries, its capital investment is in materials. The income of human capital investment is the most fundamental and the return is the greatest. The human capital I am talking about includes not only the formal education in schools, but also other input and training that can enable people to acquire some skills. At present, the growth of China's education capital investment is lower than that of other countries in the world, even lower than that of China's material investment, and there are some inequalities in human capital investment, such as regional and urban-rural differences. This inequality leads to low return on physical capital investment and loss of return. A more balanced investment in education will promote economic development and reduce the long-term imbalance of economic development. If the proportion of private investment is continuously increased, talent education will be greatly promoted. All along, we think that the education market and the labor market are separate, but in fact they are closely related. An open labor market and an effective loan market can effectively introduce resources into training, reduce various restrictions in the labor market, and ultimately reduce the cost of human capital, saving a lot of money for * * * *. Let's briefly review human capital and technology. It is an obvious law that if a person receives education, he will have skills, be able to do a lot of things, be able to adapt to this changing society quickly, and be able to effectively exercise social functions. I don't need to repeat how fast China has developed. We should realize that a skilled labor force will benefit the development of China. According to world standards, the proportion of people with university education in China is still relatively low. In order to adapt to the changes in China, to further maintain the investment of material capital, and to expand the opening of workers, people with university degrees are needed. According to the data, the population with university degree in Heilongjiang Province accounts for 4.87% of the total population, 20.49% in Beijing and 15.07% in Shanghai. It can be seen that the distribution of talent market in China is uneven. As far as China as a whole is concerned, this ratio is quite low, only 4.7%. In the United States, the proportion is 25% to 30%. Constantly introducing new technologies requires skilled and educated people to operate. An economic principle is that in order to get the best return, human capital investment and physical capital investment must be balanced, and all geographical fields need investment balance. The problem is that China has not invested enough in human capital. The investment in one region is less than that in another, and the overall investment in education is less than that in other countries. Another problem in China is that the public has little investment in education, and the funds mainly come from * * *. The investment in education varies greatly between regions, and the forms of education are also different. According to the data of education investment in China in 200 1 year, the cost of education per student in Beijing is nearly 1 10,000 yuan, while in some provinces it is only 1 10,000 yuan, which is one sixth of that in Beijing. Because of different geographical locations, the investment in education has changed greatly. Beijing and Shanghai have a high GDP, so it is necessary to increase investment in education, while areas with low GDP have less investment in education, which shows the importance of birthplace. A good policy should change the phenomenon of "being born in a richer area and getting higher investment in education". At the same time, even in the same rich area, the proportion of education investment is very different. Next, it is discussed that relying on private investment to promote education is very important to solve the unfair and inefficient education, but it needs to be treated with caution. If tuition is charged, part of the resources can be used for teaching, but it needs to establish a good loan system, and students can pay back the money according to their own income in the future. Pay attention to the inequality of family education expenses between urban and rural areas. It can be seen from the expenditure table of urban households in China of 1999 that the investment of urban households in their children is 1 ... >; & gt
Question 9: What does the basic model of human capital investment mean in economics? Investment is the acquisition of some assets that are expected to increase their net profit flow in the future. Compared with physical capital investment, the cost and benefit of human capital investment are more complicated. The profit analysis model of human capital investment is the decision model of human capital investment.
First of all, we need to understand a concept, which is about discount.
Discount: Convert future currency into present value, that is, present value. This process is called discounting.
If the current interest rate is 10% and someone lends 1 yuan now, this person will get 1. 10 yuan one year later, where 1 yuan is the original capital and 0. 10 yuan is the interest. If this relationship is expressed by a general formula, it is:
B0×( 1+r)= b 1( 1)
Here B0 represents the current value of the currency, B 1 represents the value of the current currency after one year, and r is the interest rate. (1+r) means that not only the original value or principal can be recovered, but also interest can be added. If you want to express the monetary value after two years, you can deduce it from the formula (1):
B0( 1+r)( 1+r)= B0( 1+r)2 = B2(2)
So we can get the general formula, that is, the value of a certain amount of currency in circulation after n years:
B0×( 1+r)n=Bn (3)
Formula (3) shows how to calculate the value of a sum of money at some time in the future. If we want to convert a sum of money in the future into the present value, we can get the discount formula we need by slightly changing formula (3):
Bn/( 1+r)n=B0 (4)
The human capital investment model assumes that people compare the recent investment cost with the present value of future income based on lifelong income (income scattered over several years) when making education and training choices.
We use c to represent the total cost of human capital investment in the current period. As long as the present value of future income is compared with the current cost, we can know whether human capital investment is worthwhile. That is to say, human capital investment is worthwhile and only if the following formula holds: formula: b1(1+r)1+B2/(1+r) 2+B3/(1+r) 3+. C (5)
Where r stands for interest rate or discount rate, and the left side of the formula represents the sum of discounted income of human capital over the years.
Conclusion: As long as R is positive, future income will be discounted gradually. The greater R, the lower the present value of future income.
There are two ways to measure whether the above formula is satisfied.
One is the present value method, that is, first specify the value of r, and then see if the values at both ends of the equation can make the formula hold.
The second is the internal rate of return method, which calculates the value of R by making the present value of income equal to the cost, and then compares this rate of return with the rate of return of other investments (such as bank interest rates). If the highest discount rate is greater than the return rate of other investments, the human capital investment plan is feasible, otherwise it will not work.