【摘要】：近年來(lái),包括房屋建筑、交通設(shè)施、能源設(shè)施等基礎(chǔ)設(shè)施在內(nèi)的建筑市場(chǎng)發(fā)展迅速,建筑施工企業(yè)對(duì)項(xiàng)目經(jīng)理需求量迅速增加,但對(duì)其人力資本的投資和管理缺乏經(jīng)驗(yàn),需求和供給之間存在明顯缺口,本文旨在解決項(xiàng)目經(jīng)理人力資本價(jià)值的科學(xué)評(píng)估。 項(xiàng)目經(jīng)理人力資本是建筑企業(yè)最為核心的人力資本之一,研究其價(jià)值特性和評(píng)估方法有助于建筑企業(yè)優(yōu)化項(xiàng)目經(jīng)理人力資本投資和管理模式,提升企業(yè)人力資本價(jià)值,進(jìn)而達(dá)到提升企業(yè)整體價(jià)值的目的。本文站在企業(yè)的角度,研究了常規(guī)資產(chǎn)評(píng)估方法,即成本法、市場(chǎng)法、收益法在人力資本價(jià)值評(píng)估中存在的問(wèn)題,本文的核心內(nèi)容是采用實(shí)物期權(quán)法評(píng)估項(xiàng)目經(jīng)理人力資本,對(duì)項(xiàng)目經(jīng)理實(shí)物期權(quán)進(jìn)行定價(jià),以實(shí)現(xiàn)對(duì)建筑企業(yè)項(xiàng)目經(jīng)理人力資本進(jìn)行合理的投資與管理。 本文通過(guò)梳理前人在價(jià)值評(píng)估、人力資本等領(lǐng)域的研究成果,結(jié)合對(duì)建筑施工企業(yè)項(xiàng)目經(jīng)理現(xiàn)狀的調(diào)查發(fā)現(xiàn),項(xiàng)目經(jīng)理人力資本所有權(quán)歸項(xiàng)目經(jīng)理本人所有,企業(yè)以合約形式獲得部分使用權(quán)；項(xiàng)目經(jīng)理對(duì)建筑企業(yè)的未來(lái)收益有著決定性的作用,應(yīng)當(dāng)參與企業(yè)剩余價(jià)值的分配,以調(diào)動(dòng)其積極性和創(chuàng)造性。成本法和市場(chǎng)法不能用于項(xiàng)目經(jīng)理人力資本價(jià)值的評(píng)估,收益法可以比較全面的反映項(xiàng)目經(jīng)理人力資本的價(jià)值,但與真實(shí)價(jià)值差距較大,也沒(méi)有考慮項(xiàng)目經(jīng)理人力資本的不確定性,風(fēng)險(xiǎn)估計(jì)不足,缺點(diǎn)比較明顯。 本文采用實(shí)物期權(quán)法,不再只關(guān)注項(xiàng)目經(jīng)理本身人力資本價(jià)值的貨幣化,轉(zhuǎn)而從項(xiàng)目經(jīng)理人力資本投資和管理的角度研究其人力資本實(shí)物期權(quán)的價(jià)值。首先,對(duì)項(xiàng)目經(jīng)理人力資本進(jìn)行實(shí)物期權(quán)分析,著重分析了實(shí)物期權(quán)的適用性和特性；然后,以金融期權(quán)和實(shí)物期權(quán)為基礎(chǔ),推演出項(xiàng)目經(jīng)理實(shí)物期權(quán)及其參數(shù)；最后,建立了項(xiàng)目經(jīng)理綜合素質(zhì)評(píng)價(jià)指標(biāo)體系和人力資本實(shí)物期權(quán)定價(jià)模型,充分考慮了項(xiàng)目經(jīng)理人力資本價(jià)值的不確定性帶來(lái)的風(fēng)險(xiǎn),用價(jià)值波動(dòng)率來(lái)反映,并對(duì)相關(guān)參數(shù)的取值進(jìn)行了詳細(xì)研究,分析了價(jià)值波動(dòng)率的敏感性。最后以案例的形式對(duì)實(shí)物期權(quán)法在項(xiàng)目經(jīng)理人力資本價(jià)值評(píng)估中的應(yīng)用進(jìn)行了研究。
[Abstract]:In recent years, the construction market, including housing construction, transportation facilities, energy facilities and other infrastructure facilities, has developed rapidly, and the demand of construction enterprises for project managers has increased rapidly, but the investment and management of its human capital lacks experience. There is an obvious gap between demand and supply. The purpose of this paper is to solve the scientific evaluation of project manager's human capital value. The human capital of the project manager is one of the core human capital of the construction enterprise. It is helpful to optimize the investment and management mode of the human capital of the project manager and to enhance the value of the human capital of the enterprise by studying its value characteristics and evaluation methods. And then achieve the purpose of enhancing the overall value of the enterprise. From the point of view of enterprises, this paper studies the problems existing in the evaluation of human capital value by conventional asset evaluation methods, namely, cost method, market method and income method. The core content of this paper is to evaluate the human capital of project manager by means of physical option method. In order to realize the reasonable investment and management of the project manager's human capital, the real option of the project manager is priced. Through combing the previous research results in the fields of value evaluation, human capital and so on, combined with the investigation of the current situation of project managers in construction enterprises, this paper finds that the ownership of project managers' human capital belongs to the project manager himself. The enterprise obtains part of the right to use it in the form of contract; The project manager plays a decisive role in the future income of the construction enterprise and should participate in the distribution of the residual value of the enterprise in order to arouse its enthusiasm and creativity. The cost method and the market method can not be used to evaluate the human capital value of the project manager. The income method can reflect the value of the project manager's human capital in an all-round way, but there is a big difference between the cost method and the real value. Also does not consider the project manager human capital uncertainty, the risk estimation is insufficient, the shortcoming is obvious. In this paper, we adopt the real option law, not only pay attention to the monetization of the project manager's human capital value, but also study the value of the project manager's human capital real option from the point of view of the investment and management of the project manager's human capital. Firstly, the real option analysis of the human capital of the project manager is carried out, and the applicability and characteristics of the real option are emphatically analyzed, then, based on the financial option and the real option, the real option of the project manager and its parameters are deduced. Finally, the evaluation index system of the project manager's comprehensive quality and the real option pricing model of human capital are established. The risk caused by the uncertainty of the value of the project manager's human capital is fully considered, and the value volatility is used to reflect the uncertainty of the project manager's human capital value. The value of relevant parameters is studied in detail, and the sensitivity of value volatility is analyzed. Finally, the application of real option law in the evaluation of project manager's human capital value is studied in the form of case.
【學(xué)位授予單位】：北京交通大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2015
【分類(lèi)號(hào)】：F426.92;F272.92

【參考文獻(xiàn)】

相關(guān)期刊論文 前10條

1 鄭潔,武向榮,賴(lài)德勝;歐洲人力資本收益率:文獻(xiàn)綜述[J];比較教育研究;2003年12期

2 劉志宏;;復(fù)合實(shí)物期權(quán)模型在人力資本價(jià)值評(píng)價(jià)中的應(yīng)用[J];北京理工大學(xué)學(xué)報(bào)(社會(huì)科學(xué)版);2009年03期

3 佟愛(ài)琴;金晶;吳泗宗;;人力資本計(jì)量及其股票期權(quán)會(huì)計(jì)創(chuàng)新[J];財(cái)會(huì)通訊(學(xué)術(shù)版);2008年01期

4 龍永保;周清;;企業(yè)家人力資本投資收益計(jì)量模型探討[J];當(dāng)代經(jīng)濟(jì);2011年05期

5 李明順;陳濤;滕敏;;交通基礎(chǔ)設(shè)施PPP項(xiàng)目實(shí)物期權(quán)定價(jià)及敏感性分析[J];系統(tǒng)工程;2011年03期

6 孫萍;史安娜;;人力資本收益計(jì)量研究述評(píng)[J];工業(yè)技術(shù)經(jīng)濟(jì);2009年04期

7 王倩;;淺析成本法在人力資本價(jià)值評(píng)估中的應(yīng)用[J];經(jīng)營(yíng)管理者;2012年24期

8 崔鴻英,張林;人力資源價(jià)值的會(huì)計(jì)計(jì)量[J];哈爾濱商業(yè)大學(xué)學(xué)報(bào)(自然科學(xué)版);2005年03期

9 王麗潔;;項(xiàng)目經(jīng)理任職特征探討[J];河南商業(yè)高等專(zhuān)科學(xué)校學(xué)報(bào);2007年06期

10 張慧慧;柯琳;;經(jīng)營(yíng)管理型人力資本定價(jià)研究——基于實(shí)物期權(quán)理論[J];經(jīng)濟(jì)師;2009年02期

，

本文編號(hào)：2434919