An Empirical Study On Corporate Human Capital And Corporate Performance

With the ever increasing development of global economy and the unbalanced development among countries and regions, the role of human capital play in economy is becoming the focus in economy research. It has been proved that the human capital level in the first stage of a country's development and it's change has the decisive effect on the country's development by the 1980's research.The human capital is the motive power of the developing country's development. In human capital theory, corporation is a complex contract signed by human capital and material capital. Corporation is the conjuncture of human capital and material capital, it is the main organize for human capital to play it's role. Efficient deploy of human capital can not only enhance corporate performance and it's sustained development, but also has the positive effect on the deploy of the whole society's human capital. Under the fierce competition, corporations make full use of it's resources to earn competitive advantages.The possibilities to earn competitive advantages from capital and technology is becoming small because they can imitate by opponents easily, but human capital embodied in employees'learning and capabilities and the relations among employees are difficult to imitate by opponents, so it becomes the core competitions of corporations. The paper studies on China's public listed companies, research the relationship between firm's human capital and firm's performance,the relationship between human capital's flow and it's effect on firm's performance. We review the theory that which factor decide firm's performance firstly,the answer is that the corporate human capital decide corporate's performance.By empirical analysis,we find that there is not all positive correlation between firm's human capital and it's performance in all industries,the correlation is different by it's trade.The recruit of talents doesn't improve firm's performance,however, the run off of talents improve firm's performance. Firm's performance and the development of a country's economy decided not only by human capital's storage ,but also decided by it's efficiency.The conclusion of analysis reflect the facts that the efficiency of human capital is not high in our country, we put forward the suggestions to improve human capital's efficiency.The efficiency of human capital decided by it's deploy.Human capital's deploy requires human capital can be flow freely.There exits many factors to hinder human capital's flow presently.We also give some advices to promote human capital's flow at the end of the paper.