浅析人力资本投资风险

人力资本投资是一种高投入、高回报，同时又是高风险的投资活动。由于风险的存在，在某种程度上已经抑制了我国人力资本投资的扩展。这在人力资本作用日益重要的时代，可能会不利于经济的发展。本文就人力资本投资风险的相关问题作以浅述。     

人力资本投资结构研究综述

在新经济条件下,人力资本投资作为经济增长必不可少的投资形式越来越得到重视。文章从宏观研究思路和微观研究思路两个方面,归纳和分析了国内外人力资本投资结构的相关研究成果,并进行简要述评。     

试论健康素质与人力资本投资效益

在竞争越来越多的表现为人力资本竞争的现代社会,人的素质(知识、才能和健康)的提高,对经济增长以及竞争力起着决定的作用。而健康素质在任何时期都是最重要的个人资本和社会资本,为增进健康而进行的体育投资是人力资本投资的重要组成部分。同时,体育在有效地提升人力资本素质,增加人力资本存量,降低人力资本的投资风险,提高投资效益等方面的作用是人力资本其它投资形式所无法替代的。     

基础设施投资、人力资本积累与农业经济增长

本文利用1985-2010年的年度数据,通过构建包含基础设施投资、人力资本积累和私人资本投入的生产函数对农业经济增长的影响因素进行实证研究。研究结果表明,人力资本积累和私人资本投入对农业经济增长起到积极的促进作用,而基础设施投资阻碍了农业经济的增长;基础设施投资、人力资本积累和私人资本投入对农业经济的影响在短期内并不显著;从长期来看,人力资本积累对农业经济的影响最大。本文提出今后的农业政策应该合理配比财政支农资金,促进农民收入增长,以实现农业长期、稳定和可持续的发展。     

健康人力资本与教育人力资本投资耦合关系研究

本文通过研究我国教育人力资本投资和健康人力资本投资的耦合关系,发现我国各地区教育投资和健康投资耦合协调度偏低,教育人力资本和健康人力资本的协同作用效果因此减弱.区域间人力资本发展水平存在较大差距,西部地区健康投入、教育投入和两者耦合度都远低于东部地区.因此,为保证经济的可持续发展,应该合理的分配资源进行人力资本投资,提高资源利用率,促进健康人力资本和教育人力资本的整体协调发展.     

借鉴人力资本外部性完善国防人力资本教育投资

人力资本存在强烈的外部性特征,要使这个外部性较大的内在化,提高人力资本投资的个人收益和社会收益,就需要完善和加强对人力资本的教育投资。目前我国的国防人力资本教育投资尚不完善,应充分借鉴人力资本外部性理论,在以下四个方面加强和完善:逐步形成军队投资、社会投资、个人投资并举的格局;进一步加大国防人力资本教育经费的投入力度;提高国防人力资本教育投资的经济效益;完善国防人力资本产权保护制度。     

企业人力资本投资风险的探讨

人力资本是凝结在人体中能够使价值迅速增殖的知识、体力和技能的总和。人力资本投资可分为教育投资、培训投资、劳动力流动投资、卫生保健投资等形式，然而人们在认识人力资本投资投具有高收益性的同时，往往忽视了其高风险性。本文尝试从企业角度来探讨人力资本投资的意义、风险与规避企业人力资本投资风险的措施。     

企业人力资本投资形式差异的实证分析

企业人力资本投资包括培训、招聘、福利保障等多种形式,从投资的效果来看,可以将它们分为保值性和增值性人力资本投资两大类.在文献研究的基础上,本文通过开放式调查进一步探究了当前企业主要采用的人力资本投资形式以及差异.结果表明:一般而言,相对于保值性人力资本投资,企业更多地采用增值性人力资本投资形式;不同性质、不同行业的企业在人力资本投资的意识、偏好上存在差异,如外资企业、制造业和房地产建筑业等行业中的企业同时兼顾两种类型的投资,而其他企业则更偏重于增值性的投资形式;大多数企业主要采用的人力资本投资形式是培训和福利保障,投资形式比较单一.     

人力资本投资与中国经济增长

人力资本已成为现代经济增长与发展的源泉和根本动力。增加人力资本投资,提高人力资源质量,已成为各国促进经济发展的重要手段。依据相关的人力资本理论,阐述人力资本对于中国经济增长的重要意义,指出人力资本投资已成为中国经济持续增长的关键因素;并在分析中国人力资本现状的基础上,提出了一些加快人力资本形成、加大热力资本投资、促进人力资源发展的政策措施及建议。     

中国银色人力资本投资的问题及对策研究

近年来,中国老龄化呈加速发展态势,给中国经济和社会带来了巨大压力。老龄化过程中产生的若干问题,迫切要求我们进行银色人力资本投资,实现潜在银色人力资本的价值。审视目前中国老年人力资本投资的现状,存在着观念陈旧,体制保障不健全,投资范围狭窄等问题。因此,着力从教育和医疗两方面,通过借鉴发达国家老年人力资本投资的经验,为中国的银色人力资本投资提出如建立多层次老年教育体系等若干对策。     

Inventory investment,investment and employment with uncertain demand

In that paper, a model of the optimal behaviour of firms with respect to the determination of capacity employment, investment and inventories is presented and estimated. Firms face an infinite horizon and an uncertain expected demand. The optimality conditions are derived, linearized and integrated. After having defined the stable optimal paths, one can proceed to the estimation of the model and to various simulations.     

Prior investment outcomes and stock investment in defined contribution plans

In this study, we employ the 2001–2013 Survey of Consumer Finances to examine how prior investment outcomes affect portfolio allocation in defined contribution (DC) plans. Results show that investors with prior gains are more likely to invest all DC plan assets in stocks. Factors such as risk tolerance and investment horizon positively affect investors’ tendency to allocate all DC assets to stocks. These findings have important implications for investors, researchers and financial professionals.     

The impact of bilateral investment treaties on foreign direct investment

This paper uses a large panel of OECD data on stocks of outward foreign direct investment (FDI) to evaluate the impact of bilateral investment treaties. For several variants of the knowledge capital model of multinationals, we demonstrate that investment treaties exert a significant positive effect on outward FDI, if they actually are implemented. Moreover, even signing a treaty has a positive, although lower and in most specifications insignificant, effect on FDI. Journal of Comparative Economics 32 (4) (2004) 788–804.     

Shared network investment

This paper discusses the case of inter-firm cost sharing in fixed-capital investment in business-related network. Such cooperation among individual firms differs in nature from the collusive conduct in pricing or production in the sense that decisions on short-term production remain independent. The model in this paper stylized a common network that reduces each member firm's variable cost of production. Firms benefit from pooling their investment in this network thanks to cost subadditivity of the investment. Different dues-assignment rules are found to affect firms' incentive in achieving collective efficiency.     

Ranking investment projects

Summary. This paper describes conditions under which one investment project dominates a second project in terms of net present value, irrespective of the choice of the discount rate. The resulting partial ordering of projects has certain similarities to stochastic dominance. However, the structure of the net present value function leads to characterizations that are quite specific to this context. Our theorems use Bernstein's (1915) innovative results on the representation and approximation of polynomials, as well as other general results from the theory of equations, to characterize the partial ordering. We also show how the ranking is altered when the range of discount rates is limited or the rate varies period by period. Received: January 5, 2002; revised version: October 29, 2002 RID="*" ID="*" We thank Robert Driskill, Andrea Maneschi, Roy Radner, and participants of seminars at NYU, Notre Dame, Purdue, and Washington University for helpful comments. The present version of the paper has benefited from comments by a referee and the editor. Foster is grateful for support from the John D. and Catherine T. MacArthur Foundation through its network on Inequality and Poverty in Broader Perspective. Correspondence to: T. Mitra     

Optimal investment sequence

Summary. This paper investigates the optimal order in which a collection of projects should be taken on if only one project can be done at a time. We associate a number called priority value with each project and show that one should order the projects in decreasing priority values. We also show that this priority value rule is equivalent to the replication rule in the literature. Finally, we compare the rankings given by the priority value rule and the ordinary present value rule.     

Investing in public investment: an index of public investment efficiency

Pritchett (J Econ Growth 5:361?C384, 2000) convincingly argued that the difference between investment cost and capital value is of first-order empirical importance especially for developing countries where public investment is the primary source of investment. This paper constructs a public investment efficiency index that captures the institutional environment underpinning public investment management across four different stages: project appraisal, selection, implementation, and evaluation. Covering 71 countries, including 40 low-income countries, the index allows for benchmarking across regions and country groups and for nuanced policy-relevant analysis and identification of specific areas where reform efforts could be prioritized. Research applications are outlined.