Research Of Hold-Up Problems In Specific Human Capital Investment Of Company

The national economy is in the process of modernization, as the knowledge economy sweeping through the world, people's value has been given more and more attentions then anyone before, and human capital has risen as an important strategic resource. Facing the attack of the international capital market of the industry and financial and also for the sustainable development of the economy and the core competencies, the businesses and industries should pay more attention to training staffs. This will also provides a huge boost as to eliminate the bottleneck of China's economic development.Williamson,2009 Nobel laureate in economics, believes that the specific assets are for the purpose of a transaction which carried out the durability of investment. It'll be losses once the transaction terminate, because such investment income is very low in other areas. Because of its special characteristics, making it have a hold-up problem during the investment process, and this also made a serious impediment to the effective level of investment. The paper based on Becker, Klein, Parsons, Williamson and others research, through the perspective of the hold-up problem in the investment, established a bilateral investment game model to analyze the specific human capital investment problems, also put forward their views. I'll provide some recommendations for China enterprises, which should establish effective governance mechanisms to promote enterprise-specific human capital investment, raise the level of competitiveness and development level.The article is divided into two parts, introduction and text. The introduction introduces the general human capital and specific human capital theories, and the development of the hold-up theory based on the above. And also give a general introduction to the limitations of human capital investment by the Chinese enterprises, the important role in shaping the core competitiveness of enterprises.Text is divided into four sections. The hold-up problems will be introduced to human capital investment at first. Second, the paper would analysis the characteristics and mechanisms of hold-up problem in specific human capital investment. And then the governance theory about hold-up will be introduced in the investment theory about specific human capital investment. Finally, analysis the results related to the governance, and give a reasonable explanation.