Entrepreneur Incentives Of Property Right Of Human Capital And Private Enterprise Performance Research

With the deepen of the reform of China, economic development oriented by the process of marketization go a step further. The private enterprises, which are made up of the90%of the sum, are riding high. Enterprise is the main force in the market economy, the development of private enterprises not only affect the prosperity of the country, but also become a determinant of the people’s employment and life.The fuzzy property,unperfect governance structure and the unfully exerted talented and so on are restricting the development potential of private enterprises. The current population bonus gradually disappearing, labor becoming increasingly scarce, the incentive property right of human capital in entrepreneur increasingly highlight its importance. Exploring the role of human factors in private enterprises makes a significant meaning in both theory and practice. This paper attempts to investigate the influence of the shareholding by the executives and management layer on firm performance from the perspective of the incentive exerted by the property rights of human capital, to seek the advantageous and disadvantageous factors to enhance the efficiency of private enterprises. Because of the specificity, incomplete transfer and the complexity of the incentives,the property right of human capital has an insufficient value realization in the enterprise, a large number of the internal governance structure of private enterprises also has made an illustration. The prevailing familism in the private enterprises of China is blurring the dividing line of the enterprises and the family, which adversely affect the performance of private enterprises obviously. Therefore, we apply the sharing economy to make a theoretical explain on the way the incentives of property rights of human capital influence the performance of private enterprises, then make an empirical test between the corporate performance and the proportion of the shareholding of management layer or executives, based on the selected852private enterprises which has relatively complete data in A share market in2013.The results verify the fact that the incentives of property right of human capital for different managers in private enterprises performance differently.