物质资本产权

人力资本产权与物质资本产权的契约关系，是现代劳动关系的轴心。

The contract relation between property in manpower capital and that in material capital is the axis of modern labor relations .

而且由于人力资本的特殊性质，人力资本产权关系比物质资本产权关系更复杂。

Moreover , because of the special character of human capital , the property right of human capital is more complex than that of material capital .

与物质资本产权相比，人力资本产权投资具有不同的特点，而且投资者的目的和要求也不尽相同。

Compared with other kinds of property rights investment , property rights investment of human capital has different characters and the objectives , so the objectives and requirements of investors are also different .

笔者认为，公司治理实际上就是企业内部各种劳动关系的协调，是人力资本产权与物质资本产权的相互制衡。

We think that corporate governance is essentially the coordination among the different labor relations inside firms . In the other words , it is the mutual equilibrium between the human capital rights and physical capital rights .

人力资本也是一种资本，那就不可避免地存在着与物质资本一样的产权及产权归属关系等问题。

The human capital is also a kind of capital , which inevitably produces the property right and the property right ownership just as the material capital problem .

人力资本作为一种重要的经济资本，在现代社会中的地位已超过物质资本，人力资本产权是农民的一项重要产权。

Human capital as an important kind of capital , which exceeds material capital in modern society , is an important right to farmers .

经营者在成长过程中形成的人力资本以及其人力资本的主动使用，导致其在企业剩余利润的创造中作用超过了物质资本，经营者的人力资本应当与物质资本分享企业产权。

The human capital formed in the growing process of the operator and the active using of it result in more contributions than the material capital on creating the profits . So the main body of the human capital has the right to share the enterprise 's profits .

中国上市公司物质资本治理的改革，首先是要从深层次上消除制度变迁过程中的路径依赖残余，然后是着眼于物质资本产权主体与人力资本产权主体在公司治理过程中的和谐互动。

The reforms to listed company physical capital governance , should begin with the elimination of path dependence on the system change process , next should enable owners of material capital and human capital in the corporate governance process harmonious interaction .