Research On The Corporation Evaluation Model Based On Human Capitals

Corporation evaluation is based on some theories to evaluate a certain time's situations of a company which is well applied in the real economic life. It is also an emphases and difficulty at financial theories all the time. But traditional evaluations were on the basis of material capital valuation and considered financial value as enterprise's whole value which ignored some other important factors.At the highly market economy days, human capitals was one of the most important essentials in a company drawing more and more attentions. Increasingly studies indicate that human capitals are the headspring of social and economic growth and basic factors of a company's existence and development. Considering the importance of human capitals, traditional evaluation theories which ignored human capitals were unreasonable. So the dissertation looks the traditional corporation valuations as basis, inducts human capitals into corporation valuations and establishes new corporation valuation models. The structures are as follows:Chapter 1 is introductions. It mainly discusses the reasons, backgrounds and meanings of the dissertation and explains correlated conceptions about corporation valuation.Chapter 2 vividly presents several existing corporation valuation methods. Then theory foundations and deducing courses of models will be given. At last, a comparison and evaluation about the methods will be made.Chapter 3 shows the stand out contributions that human capitals have made to social and economic growth and enterprises'production development. After that, there will be a summering-up on human capitals'study productions.Chapter 4 establishes new models about corporation evaluations based on human capital. Then doing research on the models'parameter estimation and presenting the applications of the models will be given.Chapter 5 is demonstration analysis. The dissertation looks Shanghai A-share listed companies as collectivity and randomly chooses a sample as the object of demonstration analysis. Then it evaluates corporation values with established valuation models.Chapter 6 summarizes this dissertation's result and prospect.The innovations of this dissertation are that it breaks the limitation of traditional corporation valuations on financial capital values and imports another important devotion factor------human capitals to corporation valuation models. Also, the dissertation makes demonstration analysis with applied models and validates the rationality of the models.