人力资本投资风险的产权经济学分析

人力资本投资风险会导致投资者无法获得预期收益和收回投资成本,而人力资本的产权特征是造成这一风险发生的内在根本原因。人力资本投资主体的多元性使得投资主体与单一载体之间存在收益分配的矛盾风险,人力资本载体的自主能动性会造成使用风险,人力资本流动性低更会造成人力资本资产的转移风险和买方讹诈风险。未来防范和化解人力资本投资风险必须在产权制度、激励机制、投资方式、退出机制和保障体系等方面作出适当变革。

Analysis of Property Economics on Risk of Human Capital Investment

Risk of human capital investment can not make the investors earn expected return and recoverable cost.The characteristics of human capital are the ultimate reasons leading to risk of human capital investment.Diversification of human capital investment subject results in income distribution risk between investors and carriers of human capital.The independence of human capital carriers can bring on risk in use.Few liquidity of human capital can much more lead to risk of transfer and blackmail.In order to keep away from the risk of human capital investment,we must carry through transformation in property right system,motivate mechanism,investment way,withdrawal mechanism and security system.