| In times of knowledge-based economy, the role human capital plays in knowledge-based enterprises is increasingly important, so important that it may substitute for physical capital to be the key factor of enterprises' productivity. However, because of the lag of the system, human capita owners have not yet got the main-body status in the enterprises, and the administration's structure presents obvious limitations, thus human capital dose not get what it deserves, and the accounting system which stems form the traditional industrial economy also faces the unprecedented challenge. The innovation of enterprises' systems should be carried out earnestly so as to protect the rights of the human capital owners that they deserve to have. Based on modern economic theories, the paper associates and combines the subjects of economics, financing, accounting, law and so on, conducts a systematic and multi-subject research on the innovation of the bringing human capital into the administration of the knowledge-based enterprises, the measurement of human capital, and the innovation of the relevant systems, in order to establish systems which are well adapted to the operation of the knowledge-based enterprises. Through innovation of the systems, the enterprises can establish a highly efficient operation mechanism to take full advantage of human capital, which is the key factor in the development of productivity. The innovation of the property right system, the distribution system and the accounting system is based on the measurement of human capital, so that the innovation could accord with the request of the shift from industrial economy to knowledge-based economy. Therefore, the research on and discussion of the participation of human capital into administration, together with the measurement of human capital and the relevant system innovation, not only is profoundly meaningful in theory, but also has great application value in reality.The paper takes the knowledge-based enterprises as the main body of research, and takes the property right thoughts as the foundation of logic. From the angle of the right to demand the enterprises' surplus, it puts forward the theory of duality of the main body in knowledge-based enterprises in terms of enterprises' ownership, shifting from the physical paramountcy to the theory of together administration, and conducts research on indirect measurement of human capital on the basis of that, establishes the mode of theory based on the administration structure of human capital property right, the income's distribution mode and the accounting calculation mode. The paper brings forward that the rational measurement of human capital is prerequisite and the technological precondition of enterprises' system innovation, among them, the property right system acts as the basement, the distribution system is the purpose, and the accounting system provides technological support.The main content and innovation points of the paper could be concluded as following:(1)By analyzing the distribution of enterprises' residual rights and the arrangement of human capital's demand for residual rights, the paper makes a conclusion that it is just a special case that all the surplus rights are owned by physical capital stock holders, and the inner factors which really decide the proportion of the distribution between the interest relevant owners are the degree of scarcity of their capital on the market, the difference of the risk they themselves shoulder and the arrangement of the capital income by the enterprises. The conclusion is that human capital owners will enjoy an increasing proportion of surplus income with the development of productivity. (2)In terms of the definition of human capital, the existing papers lack comprehensiveness and rationality, thus the extension of human capital theory becomes ambiguous, which sets obstacles for the development of human capital theories. The paper takes the adscription of the capital property right as the masterstroke of logic, analyses that human capital should be defined as a generalized concept, which means that the broad-sense human capital comprises intellectual capital and other derived capital, thus paves the road leading to the development of human capital theory research.(3)Consider the human capital theory in the background of knowledge-based economy theories, the paper concludes that human capital is sure to and certainly will participate into the distribution of knowledge-based enterprises' proprietorship. The crucial role that human capital plays in knowledge-based enterprises leads to a new transit which occurs in consign-agent relationship in knowledge-based enterprises, thus human capital should have stocks to share the proprietorship of enterprises, and the paper claims that human capital, together with physical capital, should administer the enterprise, and proposes the duality administration theory.(4)The paper proposes a set of human capital measurement models which are innovative and easy to operate. The paper insists that human capital measurement acts as the foundation and prerequisite of enterprises' system innovation. The paper points out that on the one hand, the logic mistakes made by the current mainstream researchers made about the output measurement for human capital, on the other hand, the output (performance) helps to judge how efficient the inner value of human capital is during the actual operation. The paper insists that the measurement of the value of human capital should apply indirect pricing mode which is based on market bargaining, that is, the basic value of human capital is determined by labor market, and the increment sector of human capital which is related to stock price is measured dynamically by stock option models. The paper points out that the call option model measures the Potential Value of human capital, while the put option model measures the Internal Value as a whole. The paper proposes that the put option model is the right stock option model to measure human capital value, and we should also use Ambiguous Measurement to rectify the outcome of the put option value, the Internal Value as a whole, so as to get the Practical Value of human capital, the sector that really functions. On the base of the above mentioned Practical Value, the paper points out to exercise the theory of negotiation and control, in order to measure the value of individual human capitals, tries to address the problem of measurement of the individual human capital, a problem that rarely paid attention to.(5)Thc definition of human capital's property right is the prerequisite and foundation of the innovation of the distribution system. The existing papers can not consider at the same time the rights and interests of human capital property. The paper analyses human capital's features from two points of view, further concludes that we should also have the right to arrange the property system, we should also establish a new theory mode which is based on human capital property, which should mainly embody the equal status human capital shares with physical capital, thus the enterprise should be an agreement of equality between human capital property and physical capital property. The control right should belong to both the owners of human capital and physical capital, the interest of both sides should be realized by reasonable distribution of the surplus rights, and both of the two sides should restrict each other by such a distribution.(6)The paper establishes a new distribution mode for surplus incomes in the view of common administration. The paper uses the economic theory of the interest related ones for reference, breaks through the traditional financial theory which defines enterprises' surplus income as the income after tax. On the basis of saving human capital from damage, the paper defines surplus income, under the logic of common administration in the view of a broad capital income. The increment income of human capital should be distributed as surplus income, together with the dividend of physical capital owners and the interest of debt capital. Besides, the order of its tax deduction should be behind income tax, thus the debt capital's income, or the interest, has not the function of tax reduction any more any stands at the same status as other income from the capital owners in terms of tax, in order to reflect the distribution of surplus income under the theory of common administration.(7)The paper improves the existing accounting equations, balance sheet and income statement, to conform them to the theory of common administration. The paper proposes that the innovation of accounting system should be extended to uncertain accounting patterns in virtue of the measurement function of the capital market; measurement in times of the knowledge-based economy should take fair value as basis of measurement. The paper proposes that a new accounting system should be established, in which human capital should be brought into consideration and the new accounting equations should be the basement; the thought of Gradual Improvement is relatively appropriate choice for the accounting patterns' innovation; human capital's value variation should be the starting point to advance that the human capital under the theory of common administration needs reasonable amortizing, the design of the accounting system and the reform of the existing accounting and financing systems should emphasize the Common Administration by both the human capital and the physical capital; in terms of the accounting system of human capital, the paper combines the exercise of some cases and examples to build a relatively integrate structure of accounting and calculation.Since the measurement of human capital under the logic of Duality of Main Body is a considerably difficult task, so dose admitting human capital to the enterprises' systems, there are few research results that are gradually mature for our reference. However, nowadays confusion in reality, together with the weak theories, makes the above problems crying for settlement. Limited from the writer's research ability and academic level, the paper is just a possible try to innovate and research, it is hard to avoid many shortcomings and limitations. The paper should be regarded for an ask for attention and the interested researchers and men of insight are warmly welcomed to lucubrate, so as to enrich and consummate the research of human capital's participation into the administration of the knowledge-based enterprises and the research of its relevant system innovation.
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