Research On The Efficiency Of Heterogeneous Human Capital Investment Of International Financial Center

Different from the previous research on the construction of China's international financial center usually from the macro perspective of international comparison,reference method and historical experience of the existing international financial center,this paper adopts a micro perspective of the heterogeneity of human capital investment efficiency in New York,London,Singapore,Hong kong,Tokyo,the 5 major international financial center and Shanghai,this paper tries to provide some suggestions from the heterogeneity of human capital investment for the construction of international financial center in Shanghai.Firstly,on the basis of summarizing the previous theories of human capital,this paper divides the human capital investment into three types:the basic model,the knowledge-skill type,and the institutional model from the perspective of heterogeneous human capital investment.The interaction mechanism between heterogeneous human capital investment and financial center construction is demonstrated.Secondly,based on the2011-2013 cross section data of 5 international financial centers and Shanghai were standardized,using principal component analysis DEA model combined with the financial center of the city in three kinds of heterogeneous human capital investment level and efficiency difference,analyzes three different roles to play in the heterogeneity of human capital the construction of international financial center.It is found that there is a big gap between Shanghai and the 5 major financial centers in terms of knowledge skill and institutional human capital investment.Therefore,this paper argues that Shanghai needs to do the following three points: 1.Increasing the heterogeneity of human capital investment;2.Enhancing the heterogeneity of human capital investment efficiency;3.Coordinating the relationship with other domestic financial centers.