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An Analysis Of The Substitutability Of Human And Financial Capital In High-tech New Ventures

Posted on:2009-05-16Degree:MasterType:Thesis
Country:ChinaCandidate:C ZhaoFull Text:PDF
GTID:2189360242982143Subject:Technical Economics and Management
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From the developed path of development and current situation, start the development of enterprises in the national economic growth and raising the overall national strength of the tremendous role. If the newly created enterprises to adopt a positive attitude, especially for the strong support of private small and medium enterprises, no doubt to maintain economic growth can become a bright spot. But a lot of new enterprise development, there are many problems, restricting the development of the new Year of the biggest problem lies in the shortage of funds, as the new enterprises to set up a short time, small-scale, less equity capital; property rights is not clear, the law Many obstacles to such issues, can not be used as collateral for loans; internal corporate governance structure is not perfect, low productivity, property rights are clear, causing a lack of credibility of entrepreneurial enterprises. It has led to a new venture enterprises in the initial stage, due to the lack of sufficient financial capital, thereby limiting the development of enterprises.In this case, a new enterprise resource only alternative to the strategy of relying on its own advantages in resources, and to translate them into their scarce financial capital, adopted a reasonable approach to the allocation of resources between the various production factors and the combination of alternative Technically feasible, the factors of production are fully utilized, all kinds of factors of production to the financial capital contribution to achieve the best.The population is indispensable for the economic development of human resources, economic development is an important resource, with the funds (the capital), technology, etc. together all the elements of a production. Human capital formation in the course of human labor is worth living formed the main body, physical capital is an external conditions, the results show people the level and the ability of human capital value of the production process involves two aspects: First, the consumption of production. Survival in the enjoyment of consumption and consumption in the restoration of its original value, that is, the simple reproduction of its value in the development of consumption in the expansion of its value, that is, the value of the expanded reproduction, such as through active physical exercise enhanced through active Learning, thinking enhance mental. Second, produce in the process of production. Human capital play a useful role in the process, Baker said the "learn by ding." The use of human capital is not only the process of consumption, but also the production process. This is human capital formation of the complexity of the process. Physical capital formation in the course of human labor is to make the live material in the capital value of the transfer means, the results still showed physical capital.In this paper, a new study by the scientific and technological enterprises start, a new study of the science and technology enterprises in the human capital of the characteristics of the financing conditions in difficult circumstances, a new scientific and technological enterprises how to use the advantages of their own human capital, through the use of reasonable Human capital, making human capital into financial capital.BYD Battery Co., Ltd. in the case, in the face of severe market situation, and their own shortage of venture capital, BYD Company through a rational use of human capital strategies, in different stages, relying on its own human Capital unique advantage in the competition, the ultimate realization of the company's triple jump: in the enterprise has just entered the market, BYD local companies through the use of cheap labor resources and costs, than the Japanese manufacturers and to the tens of millions of domestic capital to production lines The enterprises have greater cost advantages, and the performance has the slightest不比Japanese counterparts of poor products, in this process, BYD Company for the development of enterprises won the time and access to the further development of capital accumulation; after Paul Biya Di companies search the forefront of the personnel, the establishment of a central research department, responsible for the entire technology research, product performance and quality improvement, BYD R & D center through technical innovation to reduce the cost of production, in the competition once again in a dominant position. BYD company from a small enterprise eventually develop into BYD industrial park, it is precisely because of the reasonable use of the advantages of their own human capital, into a financial capital, reached a very good business performance.Of course, if human capital and give full play the role of value creation, the need to create a good environment and conditions. This requires from the internal environment and external environment for staff to play a role conducive to their own conditions.In market economy, people generally believe that a stock or a business good or bad, look at it is not the main existing level of profitability, but it can have more patent technologies and know-how, how much economic potential. With technological invention is not equal to innovation, at the same time it must have the courage to take risks to the invention of the introduction of these new economy entrepreneurs. Therefore, as the value of the foundation decided to continue to improve in the division of labor, knowledge production, and intelligence to create more and more independent of the production processes, knowledge workers become more and more value on the main.As Arwen Toffler in "the transfer of power," a book that, along with the development of the information revolution, knowledge is the power to replace the power of wealth the world the power of those who have more knowledge, with more advanced the right to dominate. Guangzhao Zhou, academicians also believes that the 21st century, will replace the power of knowledge and capital, has become the most important economic force. In this context, the value is through knowledge and information input to achieve. These inputs not only create high-value products (hardware and software) and with high value-added potential of the means of production, so that high-qualities, can create amazing value of the knowledge workers are emerging.In the system innovation, technological innovation and knowledge innovation has become the economic, political, cultural and social life of an important contemporary phenomenon, research on human capital has become a pressing need for theoretical and practical requirements. But we have the problem of human capital also has just started, we only played the role of a forerunner, there are many new areas to explore and open up to be, there are many new issues to be thinking and answers to many of the developing needs of the practice Theory as the guide. Key words: high-tech start-ups,human capital, financial capital,substitutability of resources.
Keywords/Search Tags:high-tech start-ups, human capital, financial capital, substitutability of resources
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