Black – Scholes econometric model
Human capital as one of the key resources of enterprises, to play an important role in enterprise development, but how reliable is the measurement of human capital costs are to be of concern. In this paper, the Black – Scholes (hereinafter referred to as BS) method, the cost of human capital based on the analysis, the cost of building the human capital measurement model to measurement of human cost of capital for enterprises to provide new ideas and methods also of their human capital cost analysis and evaluation play a reference.
Overview of Human Capital Cost
Human capital is the investment behavior of enterprises in the human form and unite in the human body, and can get in the market value of the utility or intrinsic value, the intrinsic value of such investments mainly in the knowledge, skills and experience, etc. . The cost of human capital refers to the acquisition, development, human resources, as people who reset the cost, it is a human capital investment behavior of currencies. Human capital is the volatility, profitability, non-independence and so on. The traditional measurement of human capital mainly from the cost and value of two angles, the method including: the historical cost, replacement cost method, the fair value method and the opportunity cost method. The level of investment in human capital is usually measured by income, the proceeds of specific forms for wages, salaries, stock options (ESO) and employee stock ownership plan (ESOP) and so on. Therefore, the measurement of human capital costs become the basis of analysis in human capital. This BS in building the human capital cost-based measurement model, the main virtue of academic qualifications and work experience and other indicators to reflect the cost of human capital benefits to the enterprise, and then use the wages, salaries and other indicators of measurement of the cost in human capital.
Cost of Human Capital Measurement Model – B-S method
B-S theory methods.
1.B-S theory.
2.B-S theoretical assumptions and structures.
BS in human capital cost based on econometric model building.
1.BS method in the measurement of human capital cost analysis of the operability.
2.B-S Measurement of Human Capital Model of the cost.
3.BS human capital cost model parameter estimation.
(1) human capital investment to the enterprise benefits of K estimates.
(2) Education σ estimates.
B-S method of human capital cost analysis and evaluation model
From the above analysis we can see through the BS method only measured the cost of human capital investment in its share of accounting in accordance with Xiaoyu weighted average cost, in order to be effectively used, otherwise this cost analysis will be more economical and effective way The alternative, however, this method also provides for the measurement of human capital cost of a more flexible way of thinking. BS human capital cost analysis method is applied to the options market abstract human capital market analysis, BS law with greater flexibility hypothesis, which also determines the human capital cost analysis the parameters of the non-fixed. BS Human Capital cost measurement method has its limitations, such as some of the options market in the abstract concept of the cost of human capital market factors, which is based on the cost analysis is a necessary choice, but the cost of human capital in the analysis and did not consider all the factors that influence this cost. Based on these limitations, the enterprise must be integrated into a variety of environmental changes in the market and other factors, the economy in different ways according to rational analysis and decision making.