关于人力资本投资及参与企业分配的思考

知识经济时代，在社会主义市场经济条件下，如何认识人力资本与效益的关系，特别是如何认识人力资本投资及参与企业分配-并非一般意义上的股东权力间接股份化，而是实现真正意义上的人力资本股的直接股份，即成为公司总股本（注册资本）中的一部分，是一个备受关注的课题。由人力资本的定位出发，结合国内外企业实践，从人力资本的关键作用、出资的可行性和必要性、投资的风险、如何评估以及对其出资的约定等方面，对这一课题进行理论上的分析和探讨。

Thinking on Human Power Capital Investment and Participate in Distribution of the Enterprise

It is a much concerned question how to realize the relation between capital and profit at the age of knowledge economy under conditions of Socialist market economy, especially how to realize human power investment and participating distribution not indirect stock of share holder power in general sense, but the direct share of human power capital share in real sense, i.e. part of whole share of the company （registered capital）. Analyzed theoretically this subject from positioning of human power capital, combined with practice of enterprise both abroad and at home, in terms of key function of human power capital, feasibility and necessity of fund contribution, risk of investment and how to estimate and agree fund distribution.