Property Rights Of Human Capital: Realization Mechanism And Economic Efficiency

The realization of property rights of human capital is not only a theory issue of great importance, but also a reality problem of urgent. To subvert the capital-oriented thinking mode of enterprise management, attach equal weight to both human and material capital, and make it come true the cooperation and sharing of both capitals under an equal circumstance is a prerequisite for the establishment of a sustainable and harmonious labor relation.This paper covers three major topics as follows:(1) the factors of macro system which may exert influence on the realization of property rights of human capital; (2) the relation between property rights of human capital and the assignment of property rights of enterprise; (3) the relations between the assignment of property rights of human capital and enterprise efficiency in different industries.The property rights of human capital, a bundle of rights, which consist of powers and benefits, reflect various relations among performers. Human capital and material capital have the same properties of exclusiveness, negotiability and finiteness. However, there are some properties unique to human capital, which include inseparability between human capital and its carrier, uncertainty in the rights of use and strong externality etc. Concerning the relation between the property rights of human capital and the arrangement of enterprise system, there is not a paper dedicating specially to the study abroad. "Capital employ labor", entrepreneurs and some other theories relating to the property rights of human capital have been probed into in some foreign papers studying enterprises. In the middle and late 90s debates between property rights of human capital and enterprise assignment sprung up in our country.China is experiencing both economic and social transformation and changes are taking place in every field. These changes were stamped with strong system meaning, for instance, influences to the realization of the property rights of human capital brought about by the transitions in economic systems, fundamental support to property rights of human capital coming from the development and improvement of human rights protection and legal infrastructure construction, and the adjustment of minimum wage is intended to increase people's income. However, some negative impacts were exerted by the changes, such as dual household registration system in urban and rural areas. This system and its derivatizations impede population's free movement and deepen still further the gap between urban and rural areas."Capital employ labor" is typical of classical enterprise. However, with the development of enterprise, lots of arrangements different from those of classical enterprise have arisen and the status of human capital have been enhancing gradually. Due to the great role human capital playing in enterprise and the facilitation from education and training, human capital has accumulated at some length. Under such circumstance, the value of human capital has been promoted, which will push forward the transition of enterprise system necessarily. Human capital can participate in sharing of the property rights of enterprise in many ways. Among them, sharing of firm residua and right of control takes the priority. The influence to economic efficiency varies in different industries due to the different realization of the property rights of human capital. And this hypothesis has been confirmed by the data from listed companies.