An Exploration Of Executive Human Capital's Participation In Enterprise's Income Distribution In China

Modern firm theory argues that enterprise is a complicated contract composed of independent assets. Understanding the perspective of human capital theory, we would know clearly that enterprise is a complicated contract composed of independent assets such as material capital and human capital. Human capital that enters enterprises could be classified into three types: Executive human capital, technical human capital and common human capital. Of these three types of human capital, executive human capital contains the most capital, lies in the core position, and it is the most typical of all. Furthermore, executive human capital has some characters, which makes it different from other types of human capital such as the integrality of its property right, its self-determination in capital configuration, customization and its rarity. These characters bring absolute superiority for its owners in the negotiation with the capital owners, owners of executive human capital plays an key role in the enterprise relative to the capital owners, exerts "positive money" or "go-aheadism" function, especially because of its ownership of the enterprise's information advantages and the operating right of the enterprise, if the executives couldn't get the income which is based on the value of its human capital, they may possibly reduce the devotion into the enterprise, and the function of them would then decrease or even disappear. All of these may result in necessarily high running cost and bring on all kinds of corruption behaviors.At present it is normal that human capital, especially the executive human capital is looked down on and underestimated in China. The property right of executive human capital is not accepted by the enterprise, and executive human capital's residual claim is deprived. This thesis makes retrospect about some theories like the modern firm theory, the human capital theory, and the incentive theory, depicts the executive human capital's meaning and characters, reaches a conclusion, that is, we could unite these theories to study the executive human capital's income problem, and the thesis then demonstrates that the executive human capital, as an heterogeneous type of human capital which makes great contribution to the enterprise, should receive proper income which is based on the value of its human capital. Besides, in analyzing the cases of executive payment in Rockwell International Corporation and operators' salaries incentive mechanism in Xi'an Vehicle Corporation and considering the foreign developed countries' experience and based on the analysis of the actuality in China, the thesis points some problems existing in China and gives the reasons for them, constructs an fundamental framework...