On The Human Capital Contribution Under The Background Of Capital System Reform

In the era of knowledge economy,talent is increasingly become the core competitiveness of enterprises,as a scarce resource,the role of human capital in both economic and social development has been more important than physical capital.Chinese corporation Law has been revised in 2013,after modifying the legal capital system,the strict control of capital has been relaxed,mainly reflected in the abolition of the minimum registered capital limit,transform the paid registration system into a subscribed registration system.etc..But an important part of the capital system-the form of investment has no changes and human capital,credit and other forms are still excluded from the statutory contribution forms.Although the revised law still takes a conservative approach to human capital investment,but in terms of theory and practice perspective,the recognition of human capital investment has been in a pressing need.From a historical point of view,China's legal capital system has learned the experience of the civil law that adhering to the statutory capital system,and advocate strict controls on capital under the guidance of capital credit system But as the capital credit theory turned into the assets credit theory,scholars increasingly recognize that the restrictions imposed on capital are difficult to play the role of creditor protection but reduces the efficiency.It is under the guidance of this concept that we reformed the system of capital.Although this reform does not modified human capital contribution in the form of being,but after the release of capital controls,allowing shareholders or promoters for self-funded content agreement,it will provides institutional possible for the human capital investment.Human capital's investment is not just a legal issue,it is an important issue in economics.Human capital sharing enterprise property has its inevitability,because corporation is essentially a special contract,human capital and non-human capital,the entrepreneur has significantly reduced the cost of market allocation of resources.From the perspective of economic of law,the contribution of human capital as a new form of contractual arrangement choices,more conducive to business ownership share of human capital.Although it takes a different approach to human capital investment worldwide,some are fully liberalized,others are restricted,but the wave of capital reform has not yet subsided.To meet the needs of modern business development,restrictions on human capital investment will become increasingly relaxed.Human Capital in the past questioned for more concentrated in its own difficulties as a capital contribution eligibility and valuation aspects.Under capital credit system,value-added feature is more important to assume debt guarantees.But the idea has been widely criticized,now most academics think the function of credit guarantee of capital is very low,it just need to be capable to add value.As a benefit capital to the company,human capital meets the eligibility requirements of subject matter.For the problem of the assessment of human capital are mainly technical difficulties,with business valuation technology developing,a wide range of various elements establishing,this problem has been insufficient to prevent human capital as a contribution in the form of the company.Following on the demonstration of the eligibility of the human capital investment,we also needs to overcome some technical obstacles,combined with China's legislation and practice to build the theory of assessment and payment of the human capital before invest and transfer and withdrawal mechanism after invest,so that human capital investment incentive system is able to give full play to its function and promote the value of human capital play.