Study On Influence Of Tax Upon Enterprise Human Capital Investment

Human capital has been proved that it is a key factor in the growth of economic and technique innovation.The World Bank has proposed in《World Development Report,1998》that we should pay more attention to the improvement and impetus function that knowledge makes in our economic and social development.So,in a certain sense, knowledge is more valueable than capital for a developing country .The progress of science and technology and the increase of the storage of human capital have brought a profound change in industrial structure all over the world. . Human capital is a special capital in contrast with physical capital.With the growth of the investment on human capital more and more lasting for a long time ,the marginal produce of human capital will steadily increase. So the investment on human capital helps to overcome the decrease of the marginal produce of physical capital in the progress of the development of economic.So it has a realistic meaning on the study of making a more efficient investment on human capital.The effective tax planning theory was proposed by Myron S?Scholes and Mark A?Wolfson in《Tax and corprate strategy》, 1992.The theory provides an entirely innovative perspetive on tax planning.It indicates that tax is an important infuence element during corporation operating,either in investment strategy or in financing strategy.So it is necessary to consider tax planning as a part of corporate strategy.The theory also proposed an assertion that an effective tax planning should consider all costs(tax and non-tax costs),all parties(not only the corpration itself but others parties related of tax planning) and all taxes(explicit tax and implicit tax).It describes the definition of implicit tax and a methology model of implicit tax.This paper tries to use the effective tax planning theory to analyse the investment of human capital investment in corporation perceptive.This paper utilizes a metrological model to make an analysis on this from the quantitative and qualitative perspectives.Firstly,it introduces the achivement of study on tax planning ,including analysing method,the field of study.Then it makes a systematic analysis and discuss the effective tax planning theory ,such as the theory's framework,the theory's analysis principle,the definition of some key concepts,the support theories on which it set on its theoretical framework.Particularly,the paper discusses two models used in measure of implicit tax, that is the S-W model and the C-D model.Then the paper dicusses the human capital and the investment of humam capital combined an econimic angle with an accouting angle.Though human capital is a special capital compared with physical captial.Human capital could be analyzed as the combination of current asset,capital assets and intangibel assets due to the transer and compensation patten of its value .The paper summarizes some models in measuring the velue of human capital on its different capital characteristic.Based on those diccusses and analysis,the paper proposes that the principle of making an effective tax planning on the investment of human capital.With the mothed of correlation analysis ,the paper measuers the marginal tax rates and marginal profit of human capital contrasted with physical capital . based on the data collected from listed companies classified from five industries.The last part of the paper is the conclusions,suggests and limits of the research.