The Correlation Between Enterprise Information Disclosure Of Human Capital And Technical Innovation Performance

As the heterogeneous resource,human capital is the critical factor which can drive the technical innovation and sustainable development.Information disclosure becomes an important way for investors to know about human capital,and it decreases the asymmetric information efficiently.Clearing the importance of human capital information disclosure on the technical innovation performance can help perfecting the theory of human capital and technical innovation.And it also does some favor to perfect the multi-level system.Therefore,the research of the correlation between human capital information disclosure and technical innovation performance is of great significance.This paper reviews and combs some relevant papers,and presents the questions.Based on human capital,capital market efficiency,and information asymmetry,the paper explores the influence of information disclosure on technical innovation performance preliminarily.And then this paper raises hypotheses based on the research,builds the conceptual model for empirical analysis.By the methods of descriptive statistics,correlational research and the analysis of regression,this paper finds some conclusions.The research on the electrical instrument manufacture verifies the positive correlation between information disclosure of human capital and technical innovation performance.And it also verifies the intermediary effect of external financing.The research of communication equipment manufacture shows their indirect correlation,and the external financing has nothing use.The result of the medical research shows that there is no correlation between the information disclosure of human capital and technology innovation performance.Finally,this paper analyzes the conclusion from the market procession,absorbing ability of investors and the uncertain of technical innovation.At last,this paper puts forward some proposals and looks forward to the future researches.