A Study On The Human Capital Investment Game In Enterprises

The investment of special human capital in enterprises is the base of business competition advantage contrast to human capital as power of economic growth. On the bases of human capital theory, in view of the asymmetric information in the human capital market, business employment and employers training, the paper models them through game theory and agent-principal theory and analyzes the investment of human capital in enterprise.First, the characteristic of human capital property rights is explored and the feature, function, purpose and way of enterprises human capital investment are discussed distinguished from substance capital investment. Then the reason of adverse selection in the human capital market is investigated, which indicates that asymmetric information between employer and employee is the source of adverse selection and it's result from the education signaling model of Spence model losing efficacy. The education degree of employer doesn't truly display his ability, so the employee acquired the false information. Thirdly, the strategy of handing in training payment to separate worker owned the higher and lower human capital level is put forward aimed at the adverse selection in the human capital market. The paper also proved that strategy is the only separating equilibrium to avoiding the loss coming from asymmetric information. Fourthly, the best incentive contrast under the symmetric and asymmetric information is studied and compared. The result indicates that under the symmetric information, the employer will acquired the extra profit match with his effort, while under the asymmetric information the worker acquired the varied allocation of extra profit to encourage them work hard, which is connected with the extra profit of investment in human capital. Such conclusion is an important basis to the human capital decision inner the enterprise. At last, the paper explored the measure to construct and amplified the human capital market. The measure also contributes to eliminate the adverse selection action in the human capital market and foster the effective talent market. The character of effective talent market is that: the information of supply-demand is open and completely shared, the human capital is highly flowed and priced according to the market, the higher return of the human capital investment is come from higher venture.So an open, fair market can become, it also can compete and management orderly. The paper gives the scheme about the way of human capital allocation the profit such as bonus, stock-option and stock-sharing.