垄断性质、国有产权与企业人力资本贡献

企业是人力资本与非人力资本的特别契约，企业人力资本对于企业产出到底带来怎样的效应却并不确定，本文利用上市公司年报披露数据研究企业职工教育水平与企业业绩的关系。研究发现：在我国上市公司，企业职工的综合教育水平对于企业业绩有着正向的影响，人力资本对于业绩有着较大贡献，且中等学历（大专及本科）对于企业业绩的贡献最大，低等学历的职工对于企业业绩贡献为负。进一步研究发现。企业性质和行业垄断性影响着二者的关系：国有企业，特别是垄断行业的国有企业，职工教育水平对于业绩的贡献并不明显。这从侧面显示了国有企业特别是国有垄断企业人力资源配置的不合理性。

Monopoly, State-owned Property and Human Capital Contribution

An enterprise is a contract between human capital and other fix assets, but there are few literatures which focus on the outcome of human resource. This paper finds that： there is a positive relationship between the workers＇ educational level and performance, what＇s more, the higher the level, the more it contributes; we also find that the relationship is less significant in state-owned companies, especially in monopolized industries.