The impact of unclear definition of property rights in human capital

Theory of Human Capital Property Rights:

Property rights refer to people's rights to property, which includes ownership, control, and income rights to property. Property rights are a core concept in the field of enterprise efficiency, which is not only related to practical issues such as corporate governance and income distribution, but also an important basis for studying basic theoretical issues such as enterprise nature, goals and environment.

The theory of human capital property rights is based on the theory of human capital and the theory of property rights. Human capital can be simply defined as human resources that can obtain surplus value, and when human resources are invested in the enterprise, the human capital of the enterprise is formed. In other words, the ownership and control of human capital belong to the individual as the carrier of human capital, which obviously has the characteristics of property rights.

Hence the concept of human capital property rights. The property rights of human capital cannot be divided and transferred, and it is difficult to substantively decompose various powers among different subjects.

Under the market economy, the separation of human capital ownership, use and control rights is a typical feature of human capital property rights arrangement. However, for the owners of human capital elements such as labor, technology, and management, the ultimate purpose of their investment in human capital or ownership of human capital is not only to pursue the ownership of a certain element, but to realize certain economic interests on the basis of such ownership, that is, to require those who demand human capital to pay remuneration, and the level of remuneration is determined according to the quantity and quality of the human capital they possess and consume. In this way, the property rights owned by the owners of human capital include two aspects, one is to have the full property rights of human capital, and the other is to have the right to distribute residual income similar to physical capital.

Human capital refers to the sum of qualitative factors such as knowledge, skills, and physical strength (health status) that are economically valuable in the human body. In the 60s of the 20th century, the American economists Schultz and Becker first created a relatively complete theory of human capital, which has two core views: first, in economic growth, the role of human capital is greater than the role of physical capital; Second, the core of human capital is to improve the quality of the population, and investment in education is the main part of human investment.

Human capital has greater value-added space than hard capital such as material and currency, especially in today's post-industrial period and the early stage of the knowledge economy, human capital will have greater value-added potential. Because human capital, as "living capital", is innovative and creative, and has the ability to effectively allocate resources and adjust enterprise development strategies. Investing in human capital contributes more to GDP growth.

Property Characteristics of Human Capital:

Human capital property rights are a special bundle of property rights owned by people as owners of their human capital, as well as the mutually recognized behavioral relationships introduced by owners of different human capital when using human capital. The basic characteristics of human capital property rights are: the inseparability of human capital ownership and its carrier; the natural privatization of ownership of human capital; the separability of property rights in human capital; The closure of human capital property rights.

Correctly understanding and grasping the characteristics of human capital property rights is the basis for building an effective human capital property rights system, and is conducive to establishing an incentive mechanism for people.

Human capital, by its very nature, is embodied in the intelligence, knowledge, experience, skills, and health of workers, among other things. 1. The ownership rights covered by human capital property rights can only act on the intangible resources attached to the workers, but not on the workers themselves; The right to dispose of human capital is also the right to dispose of these intangible resources, not the right to dispose of workers, i.e., the bearers of human capital. 2. The subject of human capital property rights is diverse, and the bearer of human capital himself is one of the inevitable owners of human capital.

This is determined by the diversification of human capital investors and the fact that human capital bearers are "natural" investors in human capital. 3. Not all human capital investors have recourse to the property rights of human capital, such as social or ** investment in human capital pays more attention to the social benefits and overall economic benefits of human capital, focuses on the improvement of the quality of the whole people, and is an investment in the nature of welfare; The "due" property rights of the family's investment in human capital are naturally transferred to the human capital bearer himself, and the contribution of the human capital bearer to his family falls within the scope of ethics and relevant legal provisions. At present, the contradiction in the definition of human capital property rights is mainly concentrated between the bearers of human capital and the owners of human capital engaged in utilitarian investments.

The so-called utilitarian investment in human capital refers to the investment for the purpose of directly obtaining economic or social benefits, and its investors include individuals, enterprises and other social groups. 4. The human capital property rights owned by any subject of human capital property rights are incomplete, in other words, no subject of human capital property rights can have complete human capital property rights. For other property rights subjects who are not the bearers of human capital, it is impossible to possess the intelligence, health status, etc. of human capital.

The right to use human capital also requires the active cooperation of the bearer of human capital, otherwise the realization of its ownership will encounter great obstacles. For the bearer of human capital, although he is the inevitable owner of human capital, his right to earn, use and dispose of human capital must be restricted by the relevant property rights subject, such as the right to use, the human capital bearer uses his knowledge, experience and skills to seek benefits for other subjects and himself without the permission of the relevant property rights subject, and will be resisted or even punished by the relevant property rights subject. 5. The will and behavior of human capital bearers play a decisive role in the realization and efficiency of human capital property rights.

The effectiveness of human capital is affected by the subjective initiative and enthusiasm of the bearer of human capital, and without the support of the will and behavior of the bearer of human capital, the efficiency of human capital cannot be exerted, and the property rights of human capital will lose its meaning. 6. The property rights of human capital are not inheritable. Any property rights of human capital, including ownership, use, income and disposal, will be meaningless or extinguished with the loss of the working ability, retirement and death of the bearer of human capital.

I agree that the second floor feels very professional.

Human capital refers to the accumulation of knowledge and skills acquired by workers through investment in education, training, practical experience, migration, health care, etc., also known as "non-material capital". Because this knowledge and skills can generate benefits such as wages for its owners, a specific type of capital --- human capital is formed.

Human capital property rights focus on the relationship between the people who own this human capital and their human capital, as well as the relationship between different owners of human capital. There are four main characteristics of human capital property rights:

1) Human capital and its owners are naturally integrated and inseparable. It is well known that non-human capital can be separated from its owners, and that non-human capital is relatively easy to transfer between different owners, while human capital cannot do this. Zhou Qiren (1996) has shown that the inseparable status of human capital and its owners cannot be changed in any society.

2) The value of human capital is difficult to measure, and value information is easy to conceal. First of all, whether it is non-human capital in the form of physical form, such as machinery and equipment, or non-human capital in the form of value, if it is valuable, its value can be measured by a certain scale, and human capital, such as management ability, knowledge, etc., is difficult to measure with generally recognized standards. (3) Diversity and specificity of human capital.

Like the rich and diverse non-human capital, human capital is an organic combination of diversity and specificity. Everyone has their own hobbies and specialties, each university has its own different majors, and each enterprise also has its own different types of work, which shows the diversity of human capital in general and the specificity of human capital from the individual. It is precisely this specificity of human capital that determines that the scope of application of a person's human capital is very narrow.

A kind of human capital that is valuable in one area becomes worthless once it is transferred to another, unrelated field. (4) Collaboration in the use of human capital. The specificity of human capital determines that the use of human capital must be dependent on other specialized human capital, and the role of human capital must rely on the cooperation between its owners.

Generally speaking, collaboration can make the value of human capital "1 1 2" effect. Conversely, without collaboration, the value of human capital will be greatly disrupted. The reason why enterprises replace market transactions with team production is largely related to the cooperative benefits brought by this collaborative production.