Study About How To Improve The System Of Human Capital Property Rights

Enterprises are the contract organization of the human capital and material capital. There are some contradictions between enterprises and the human capital property rights in business transactions, because of the characteristics of human capital and human capital property rights. No mortgage of human capital leads to a fixed incentive in corporate contracts, besides, the private and external effects of the human capital have deepen the degree of difficulty in human capital property rights protection. So, to bring into full play the initiative of human capital must be dynamic incentives. It is explained that the state of operator's human capital property rights system from the system of human rights capital gains.In theory, first, the vector of human capital's benefit that must be in accordance with high cost investment is decided by the way of formation and characteristics of human capital. Second, the characteristics of human capital property rights determine that enormous wealth could be created when the human capital empowerment combines the material capital, as well as the bargaining power of human capital becomes stronger that also need to proceed the benefit right more seriously. Finally, after overview the problems in annual salary system as a short-term incentive system, I think it could build a long-term incentive stock options system from EVA model.Since reform and opening-up has been, it has pay more attention to the fact that how to preserve and appreciate the value of state assets with the state-owned enterprise introduced to the market and joint-stock reform. Human capital also has been paid more attention as the key of business operate. Their level of income has been a line with the market, even catching up with other private enterprises'level.In the cases, I have made a statistics on the senior management's annual salary and the shares in more than 800 state-owned or state-holding enterprises in A share market in 2007, then corresponding to the indicator of return on equity to set up regression model respectively. It was found that, the effect of short-term incentive in our state-owned enterprises on the overall was not obvious at the present stage, or no effect of long-term incentive. It means there are still some problems in the human rights system of capital gains. Then I selected the Baoshan Iron and steel shares company as the practice of stock options and annual salary system to analyze and summary the situation. Finally, I give some advices about how to improve the system of human capital property rights.