《人力资源会计》（会计08/09）考试注意事项

1. 人力资源投资主要国家投资、        、        、        、        等几方面组成。

2. 教育投资效益理论上的计算公式为：                                            。

3. 教育投资效益绝对指标的计算公式是：                                           。

4. 公式dt=（Xe﹡-Xc﹡）/SD（Ryy）^1/2中，Xe﹡为                     、Xc﹡为                     、SD为                     、Ryy为                     。

 

1. 人力资源投资

2. 人力资源流动投资

3. 人力资源投资会计

4. 高教培养的直接成本

5. 非教育性支出

 

1. 人力资源投资和其他类型的投资相比，有它的一些独特之处。主要特点表现在几个方面？

2. 何为人力资产价值的二重性，其关系如何？

 

 

阅读资料回答问题：

INVESTMENTS IN HUMAN CAPITAL IN DIFFERENT INSTITUTIONAL ENVIRONMENTS

Juha-Pekka Kallunki, Pasi Karjalainen and Minna Martikainen

ABSTRACT

This chapter investigates the proportion of labor costs that represents investments in human capital, and the rate of amortization of this asset in all six countries for which the required data are available in the Compustat Global Vantage database. The sample includes countries with different financial and legal systems, which enables us to investigate how the growth and depreciation rates of human capital and the resulting human capital asset ratio differ in different institutional environments. The results indicate that the estimated proportion of labor expenses that represents investments in human capital is large in the so-called common-law countries with a market-based financial system. On the other hand, the depreciation rate of the estimated human capital assets is lower in these countries. The results, therefore, indicate that the human capital assets are high in equity-oriented financial reporting environments. The results also indicate that the estimated ratios of the human capital asset to market value of equity are reasonably related to firm characteristics that are hypothesized to be determinants of the human capital asset ratios. Finally, these results remain the same in different industries.

 

Advances in International Accounting

Advances in International Accounting, Volume 18, 121–140

Copyright r 2005 by Elsevier Ltd.All rights of reproduction in any form reserved

ISSN: 0897-3660/doi:10.1016/S0897-3660(05)18006-4

INTRODUCTION

 

As pointed out by Amir and Lev (1996), among others, investments in intangible assets such as brand development, research and development or human capital are of crucial importance for firms in the knowledge-based economy. Consequently, valuation of intangible assets is an important issue from equity holder’s point of view, too. There is a large body of literature investigating the stock market valuation of firms’ investments in intangible assets. Bublitz and Ettredge (1989), for instance, found that the slope co- efficient of regressing stock returns on R&D costs is positive suggesting that stock market values R&D expenditures as an asset rather than a cost. Sim- ilar results are reported by Chaucin and Hirschey (1993) and Green, Stark and Thomas (1996), among others. Ballester, Livnat, and Sinha (1998) use Ohlson’s (1995) valuation approach to estimate the proportion of a firm’s labor expenses that the market views as an investment in human capital.

This chapter investigates the proportion of labor costs that represents investments in human capital, and the rate of depreciation of this asset by using the Compustat Global Vantage data from all six countries in which firms voluntarily or obligatorily report labor costs in their published financial statements. Requirements for financial reporting are set by the legal and financial environment of the country. In the so-called common-law countries with the market-based financial system, financial reporting is aimed at providing the information needed by equity-investors. In these countries, the growth/depreciation rates of the human capital can be assumed to be high/ low, because investors have broad information set available for their decision making. The uniform Compustat industry sector code is used to investigate the human capital in different industries aside from the country- specific effects. The economic relevance of the estimated human capital is assessed by examining its firm-specific determinants. The chapter contributes to the literature that investigates the market valuation of intangible assets, especially the paper by Ballester et al. (1998). While Ballester et al. (1998) investigate the market valuation of firms’ labor expenditures in U.S. where some firms voluntarily disclose these costs in their financial reports; the current chapter investigates the degree and determinants of the human capital in different countries with different financial reporting environment.

 

1.国家投资、社会投资、企业投资、家庭投资

2.教育投资效益=教育投资带来的产出量/教育总投资

3.ΔU=T×N×dt×Sd^y-N×C

4. Xe﹡为已接受教育投资者的平均工作绩效、Xc﹡为未接受教育投资者的平均工作绩、SD为为未接受教育投资者的工作绩效的标准、Ryy为工作绩效评价过程的可靠性。

1.人力资源投资是指为了使作为人力资源载体的现实和潜在的劳动者掌握必要的知识、技能，从而提高人力资源素质所进行的投资，也包括劳动者为了追求更好第体现自身所拥有的人力资源的价值或获取更满意的收益等目的而在不同地域、不同单位之间流动时所进行的投资。

2.人力资源流动投资是指人力资源载体在不同地域和不同单位之间的流动时所需支付的一些成本费用。这些费用可能由流动的人力资源载体所支付，也可能由吸引人力资源流入的企业、单位所支付，或是由两者分摊。

3.    人力资源投资会计是为了开发人力资源、提高人力资源使用效益而引起的各种人力资源投资的计量和报告。

4.    高教培养的直接成本是指学生在接受高等教育期间实际发生的有助于人力资本的形成和积累并可直接归属于特定的某位学生的有关费用支出。

5.    非教育性支出，也称为维持性支出，可具体分为生产性支出和消费性支出两部分。生产性支出是为维持人的正常生理机能而发生的支出；消费性支出是对人力资本的形成和积累影响不大的那部分支出，如用于娱乐、旅游的支出。

（一）人力资源投资和其他类型的投资相比，有它的一些独特之处。主要特点表现在几个方面？

1.投资者和受益者的非完全一致性；

人力资源投资的主体可以是国家、社会、企业、家庭和个人。人力资源的投资，可以是这五者的共同投资，也可以是由其中的几个方面甚至在一段时期内由一个方面来承担。

2.投资收益的长期性和滞后性；

对人力资源最初的投资，可能需要经过一二十年才能体现出效益来。这就是人力资源投资收益的滞后性。但是，人力资源投资在见效后，就能体现出受益的长期性，这与人力资源能够长期使用有关。

3.不同方式的人力资源投资存在着效益的差异性；

4.人力在资源投资具有高效异性；

5.人力资源投资效益具有多样性。

（二）何为人力资产价值的二重性，其关系如何？

1.内生价值，人力资源不考虑环境因素，只关系自身要素所体现出来的价值。如，学历、性格、阅历、经验、外貌等；这种价值在某一时点是静止的，是截至评价日的一种测量，对于一个特定的劳动者在特定时间是不变的。

2.外生价值，人力资源在特定的环境中所体现出里的价值，这种价值可能高于内生价值也可以低于内生价值。外生价值体现为企业的组织资本、是企业的智力资产（或知识资产）。外生价值是一种动态价值，是外在环境变量的函数。

3.两者之间的关系：外生价值建立在内生价值基础之上，内生价值是外生价值实现的基础。