Research On The Dynamic Incentive Mechanism On The Base Of The Manager's Human Capital Value In Firm

Foundation and perfection of mechanism of incentive for managers in firms is very necessary and urgent to promote our firm reforming and development further. Measuring the manager's human capital value accurately and on the foundation of it building the manager's long-term dynamic incentive mechanism can solve short-term questions on managers' behavior.Combining our country's concrete conditions on the basis of using the foreign theory and practical experience for reference, this paper researches the problem of dynamic incentive for managers in firm. First, it analyses the human capital characteristics of managers, and establishes the assessment invest system for the managers' human capital value, selecting indexes from three aspects, i.e. .It describes the ways of assessment; it probes into managers' human nature characteristics and proposes a new human nature hypothesis for managers, i.e. " economy human -self-realization human" hypothesis. Introducing the information of human capital value of managers and output in reward contract designing, it expands the normal principle-agent model and comes to some useful conclusions. It analyses the relation of spirituality incentive and self-fulfillment; because in realism the game of owners and managers is multi-phases and managers take on many tasks, introducing comparative performance information and comparative human capital value information, it expands static single-task principle-agent model to dynamic multi-tasks model. Considering the interaction between managers' cost of producing effort and human capital investment effort, it researches the incentive problems of owners in firm to two kinds of efforts of managers. It comes to some useful conclusions. Comparing reward structure of American managers, it analyses the reward structure problem of managers in our country, and puts forwards the countermeasure and suggestion on reward structure reform to our country's managers. Finally, on the base of summing up innovation production of the whole paper, it proposes several problems that await to further be explored.