Study On The Pricing And Incentive System Of The Top Manager's Human Capital

The separation of management right and the property rights of modern enterprise, enable operator's to obtain the unprecedented enhancement in enterprise status. At the same time, this kind of two rights separation has provided the possibility for the human capital and the material capital most superior configuration, which is propitious to improve the economic benefit of the firm, on the other hand, also has caused the principal-agent problem,which makes against the economic benefit of the firm. The key of settlement the problem rest with, how arouses operator's positivity and solves principal-agent question,which is a hot topic of the modern enterprise research,and the paper will deploy enclosing the main body,too.This article figure that there are two main modes to arouse operator's enthusiasm and solve principal-agent problem, First,pricing suitably to the operator human capital causes reward which the operator human capital obtains should be; second, establishing reasonable incentive system of the operator human capital arouses operator's positivity.Modern enterprise is composed of the human capital and the material capital, the benefit is its core, namely benefit creation and benefit assignment. Key question of Benefit creation is conjunct model of the human capital and the material capital which mainly involves to the human capital and the material capital configuration proportion as well as the human capital and the material capital in enterprise's status. In different enterprise, the human capital and the material capital configuration proportion are different, as well as the human capital and the material capital in enterprise's status. Therefore there are differences in the form and the share of enterprise benefit assignment. The paper figure that we should equally look on the the human capital and the material capital, they all are the enterprise carry on the production management to move the indispensable capital, and the human capital function has the tendency which increases, therefore the human capital also should have enterprise's property rights through certain way.The human capital price question is a theory difficult problem, at present does not have to solve completely. This article believed that, the relations of the human capital pricing and the human capital reward is very close, may decide the reward of the human capitale in the foundation to study the human capital pricing, because the human capital value might express by the present value of its future income . Because operator human capital and enterprise achievement close correlation, therefore the operator human capital decides the reward to be possible through the enterprise achievement level determination.To make sure the value of operator human capital should study firstly the constitutes of the value of it. The value of operator human capital can plot the inherence value and explicit value, and explicit value include use value and exchange value,and inherence value is the bedrock of the human capital value,and explicit value is the behave of the human capital value.The inherence value of the operator human capital value is made sure by a series of evaluate index, and the use value is made sure by the performance of the firm,and exchange value is made sure by the operator resource market.The keystone of the incentive system is how to project the compensation contract, in order to let operator wiring in for the firm. The paper figure the compensation contract should consistent to the information character.Awards the operator the stock option is one kind of incentive measure, simultaneously also is the operator human capital pricing mode, therefore this article has carried on the discussion to the stock option related question, in particular our country stock option system in reality related question, such as the nature recognizes and the tax revenue question, at the same time, the paper bring forward some mend step in allusion to the problem above.