企业家人力资本与物质资本的合作条件

本文在分析企业家能力的几种观点的基础上,认为企业家人力资本具有战略决策与执行管理两个层次,界定了临界企业家人力资本的内涵。详细分析了意愿企业家的临界企业家人力资本与其物质资本的关系,认为意愿企业家的物质资本,对于股权/风险资本产权主体来说具有一定的显示人力资本的信号作用,对于债权资本产权主体来说则具有风险抵押的保险作用。同时,给出了意愿企业家获得物质资本差额的必要条件,即股权/风险资本风险参与和债权资本抵押参与的基本条件。

The Entrepreneurial Human Capital and the Condition for Cooperating with Material Capital

The paper proposed that entrepreneurial human capital had two levels,strategic decision-making and executing management,and defined critical entrepreneurial human capital,on analyzing several points of view about entrepreneur’s ability.The relations of critical entrepreneurial human capital of would-be entrepreneurs and their material capital were analyzed.The material capital of would-be entrepreneurs had a signaling function for human capital for stock/venture capital property owner and had an insurance function as risk guaranty for bond capital property owner.The necessary condition for would-be entrepreneurs to raise material capital margin was given,that was the basic condition of stock/venture capital risk participation and bond capital guaranty participation.