Research On Human Capital Value Evaluation In The Enterprise Of The Securities Industry

Since the 2012,Economic Conference of China put forward the guiding ideology of "seeking progress in stability",the growth rate of total GDP and investment in fixed assets has been slowing year by year in recent years,and the development of various industries is facing the transformation from "quantity" to "quality".Financial industry has repeatedly proposed to further optimize the allocation of resources,build a multi-level capital market,the development of inclusive finance.In the context of national policy orientation and changes in the economic situation at home and abroad,the demand for the quality of financial talents in the market is becoming higher and higher,and the gap of high-quality talents is still large.In addition,in the process of changing the market environment,there is often a higher risk,which makes it complex.Specialization and integration become an additional standard to measure the quality of talents.The securities industry as the main composition of the financial industry,analysis and research and other professional work content to promote the high-educated practitioners gathered,intelligence-intensive characteristics are more prominent,naturally become a valuable resource,not only conducive to the growth and expansion of enterprises.And because of the healthy development of the securities industry is conducive to stimulate investment,economic development has a positive impact.Under such a background,human resources management schemes such as the evaluation of talent quality in the securities industry,the step salary system,the equity incentive plan and the career development channel have received extensive attention.In addition,the stock market in Shanghai and Shenzhen fell from 2017 to 2018.As well as refinancing,the reduction of new rules,and so on,the overall income of the securities industry fell,resulting in a continued decline in the salaries of the employees of the 100 securities companies.The real value of enterprise human capital and its contribution to the development of enterprise are concerned and questioned by all walks of life.Therefore,the evaluation of the value of human capital of securities enterprises will be helpful to the reasonable pricing and management of human capital.It will be of reference significance to the future pricing of human capital and the formation of equity capital.At the same time,through the study of the contribution to human capital,the value of human capital,which is often neglected in the evaluation of enterprise value,is paid attention to,and the accuracy of evaluation of enterprise value is improved.This paper first combs and summarizes the existing research results on the value of human capital at home and abroad,then discusses the concept of securities enterprises and their human capital value,and analyzes the characteristics of the industry and the composition of talents.Then it summarizes the traditional evaluation methods of human capital value,explores the applicability of various methods,and combines the securities industry and its human capital characteristics,establishes a model of human capital value evaluation of securities enterprises based on the income method.Based on the empirical analysis of the panel data of 25 A-share listed securities companies from 2009 to 2017,it is concluded that the contribution rate of human capital output of securities enterprises is about 15.46%.At the same time,the characteristics of human capital of securities enterprises are fully considered.The method of determining the parameters such as income period,discount rate and so on is defined.Finally,the representative securities,CITIC and HUATAI is selected as the evaluation case,and the linear regression method is used to predict the future income of the enterprise,and the human capital values of CITIC and Huatai are approximately 12.704 billion yuan and 9.068 billion yuan,respectively.Referring to the salary level disclosed Annual report and the current situation of industry development,the evaluation results are considered to be more reasonable,which proves that the evaluation model of human capital value of securities enterprises established in this paper has certain reference value and significance.