Human Resource Value Evaluation Of Knowledge Intensive Enterprises Based On Cobb Douglas Production Function

Innovation is the primary driving force leading the development of enterprises,and human resources are an important foundation for maintaining the healthy and sustainable development of enterprises.In the industrial era,most of the value of enterprises is mainly reflected through the material resources such as land,houses,and machinery owned by the enterprise.Human resources are rarely included in the measurement range of enterprise value.Therefore,many people believe that the value of human resources must be reflected based on material resources,and the output benefits originally belonging to human resources are also included in the measurement range of material resources.However,with the advent of the knowledge economy and the rapid development of productivity,the position of human resources in enterprise output is also changing,especially in knowledge intensive enterprises closely related to the knowledge economy.In the process of realizing its value,human resources are closely related to the business output activities of enterprises,playing an important role in their business activities.It is necessary to pay attention to human resources in enterprises.Therefore,considering human resources as a special intangible asset for enterprise evaluation and accounting not only helps to enhance the importance that enterprises attach to it,but also helps to improve the content of enterprise financial statements,enhance the completeness of information,and promote the flow of human resource elements in the market in a reasonable manner.On the basis of studying the relevant theories of human resources by domestic and foreign scholars,this article first explores the concept,classification,characteristics,and influencing factors of human resources,as well as the concept,classification,characteristics,and influencing factors of human resources value.Combined with the characteristics of intangible asset value evaluation in evaluation practice,this article analyzes the special intangible asset value evaluation characteristics of human resources,and then combines the characteristics of human resources in knowledge intensive enterprises,After comparing the applicability of cost method,market method,and income method,a human resource value evaluation model based on income method was proposed.When evaluating the value of human resources in case enterprises,based on the ideas of intangible asset evaluation in evaluation practice,and assuming the premise of sustainable operation of the enterprise,the overall human resources in the enterprise are analyzed as an asset portfolio to analyze its overall value.As for the rationality of the determination of income amount,Discount rate and income period parameters in the income method,this paper analyzes the applicability of each method of parameter determination in the income method to human resources based on the characteristics of the enterprise’s human resources,selects the factor contribution method to determine the income amount of human resources,and the rate of return splitting method to determine the Discount rate of human resources,taking the continuous operation period of the enterprise as the income period of human resources.Then,based on the idea of factor contribution method,the Cobb Douglas production function is introduced for regression analysis to determine the share rate of human resources.Finally,i FLYTEK,a representative listed company among knowledge intensive enterprises,was selected and the feasibility of the above model was verified through a case study.In the process of using Cobb Douglas production function to calculate the share rate of human resources of the target enterprise,this paper first demonstrates the rationality of the model,then selects 30 listed companies in the same industry as the target enterprise as the analysis sample,and finally retains the financial data of six listed companies for regression analysis in the past five years,considering the availability and economic significance of the data obtained.The regression results show that the contribution rate of human resources in the process of enterprise economic output reaches 54.74%,and shows an increasing trend of returns to scale,which is consistent with the output characteristics of knowledge intensive enterprises,and the numerical value is reliable.After adjusting the differences based on the characteristics of the target enterprise’s own human resources,it was found that the contribution rate of human resources belonging to the target enterprise was 50.59%.Based on the evaluation approach of the income method,the value of the target enterprise’s human resources was 15.752 billion yuan.