An Empirical Study Of Relationship Between Human Capital Investment、Physical Capital Investment And Financial Performance

How to effectively allocate limited financial capital of enterprise is a importantproblem of the enterprise financial management. Which allocation of human capitaland physical capital can be achieved to maximize the effectiveness of the enterprise isone of enterprise decision of western economics research. Marx economics haveproved that residual value (profit) is created by variable capital (enterprise humancapital investment) but did not deny the important role of constant capital investment.Marx stressed that under certain conditions, the enterprise should maintain areasonable organic composition of capital. However, the financial management of thisimportant issue is rarely discussed now.In this paper, based on corporate financial performance and human capitalinvestment theory, the study on investment in small and medium-sized enterpriseslisted on the viewing angle. Enterprise human capital and physical capital in particularcontract, so this will both human capital, physical capital investment combinedanalysis comparing enterprise human capital investment alternative variable, therelationship of the various indicators of the performance of the alternative variable ofinvestment in physical capital and corporate finance. Analysis of enterprises shouldtake the financial capital investment strategy for small and medium-sized enterprisesto provide financial management and human resources management decisionsrecommended.This research innovation lies in the sub-industry empirical studies to illustrate thecharacteristics of the industry have a certain impact on the correlation coefficient andsummed up a higher proportion of investment in human capital industry, investment inhuman capital, the impact on the financial results,the knowledge class enterprises, forexample. Existing research sample set selected state-owned enterprises or enterprisesas Shanghai and Shenzhen listed on the Main Board of the study, was poor andrapidly growing force-small plates listed companies. Sample selection, in the end of2009, listed on the SME board and announced on March20,2013Annual Report ofthe enterprise for the study, the majority of these enterprises, state-owned shares andlegal person shares lower stake, natural person holding The higher degree of markethigher. The small plates listed companies with high growth potential, with the majority of small and medium enterprises have continuity in terms of corporategovernance, shareholding structure, so the majority of small and medium enterpriseswith a scientific theoretical significance and practical significance.