【作者】 喻兰；

【导师】 李嘉明；

【作者基本信息】 重庆大学 ， 会计学， 2008， 硕士

【摘要】 1998年底,世界银行和国际货币基金组织在《世界发展报告(1998)》中提出应重视知识对经济、社会发展的巨大推动作用,指出发展中国家与发达国家的知识差距尤其是知识创新能力的差距大大超过财富的差距,因而在一定意义上发展中国家更需要知识更甚于需要资本。2004年在国际公共经济年会上,2000年度诺贝尔经济学奖得主詹姆斯?J?赫克曼提出“中国政府对人力资本投资的绝对量有所上升,但相对水平的国际比较只降不升。在中国,人力资本与实物资本投资的比例比其他大多数国家都要低得多。”从全球经济发展看,科技进步与人力资本存量的不断增加促使产业结构发生了重大变化,制造业在工业化国家国民生产总值中所占比重逐渐降低,更多地依托知识和能力,也就是人力资本的相关产业在一国国民生产总值中的比重逐渐上升。对企业而言,产业升级带来的后果是人力资本投入所创造的产品附加值在产品的总的附加值中所占比重越来越大,是企业盈利能力的关键因素,因此企业应当注重人力资本的投资及相关的经济规划,比如:税收筹划,以实现企业最优目标。税收通过影响资本使用成本,影响企业资本存量,进而影响企业的投资收益率,与企业追求长期内的最优目标紧密相关。迈伦?斯科尔斯以及马克?沃尔夫森提出的有效税收筹划理论提供了一个思维框架,将税收融入企业战略高度,并运用契约论的观点,提出税收筹划的原则:多边性、总交易成本和总税收负担。本文试图以有效税收筹划理论为指导,并运用一般经济学理论,对我国企业人力资本投资的税收负担进行分析,进而运用上市公司数据,实证证明相关假设,冀望能对企业人力资本投资提供一定的参考。本论文一共由五章组成。第一章对税收筹划的基本概念进行概述,主要综述了在税收筹划领域相关的研究成果、研究方法、研究领域。第二章介绍了本文所运用的相关理论。主要是:重点阐述了有效税收筹划理论的理论框架、关键思路和关键概念。隐性税收的提出是有效税收理论的一个创新点,隐性税收的提出促使人们对不同税收待遇的投资具有了更客观的比较基础和观察角度,因此在这部分,笔者对隐性税收的计量方法和计量模型(S-W模型,C-D模型)做了较为详细的阐述。此外,笔者还对人力资本投资的相关概念和原理做了阐述。对人力资源、人力资本、人力资产、人力资产投资等概念的内涵进行界定,并在此基础上,从资本投资结构角度,阐述了税收对企业人力资本投资的影响途径,提出对人力资本投资进行税收筹划的必要性。笔者希望,从经济学原理上提出企业进行人力资本投资税收筹划的必要性以后,运用有效税收筹划理论对具体筹划行为进行分析。第三章是在第二章理论准备的基础上,首先对我国人力资本投资的现实税收政策进行分析;然后,从乔根森(D?W?Jorgenson)的资本使用成本公式出发,阐述税收对人力资本投资的影响途径和作用点;接下来,运用有效税收筹划理论的思想提出企业人力资本投资税收筹划的关键点,并结合我国人力资本投资的具体税收环境进行了一定分析。第四章是本论文对理论运用和实证部分。通过对农业、医药、非金属矿制品行业、采掘行业、百货行业等五个行业上市公司2004-2006年的数据,尝试分析这五个行业人力资本的边际税负、人力资本的边际利润率并与物力资本进行比较,实证分析我国企业人力资本投资税收负担和税收筹划的必要性。第五章提出本文的结论、不足和后续研究方向更多还原

【Abstract】 Human capital has been proved that it is a key factor in the growth of economic and technique innovation.The World Bank has proposed in《World Development Report,1998》that we should pay more attention to the improvement and impetus function that knowledge makes in our economic and social development.So,in a certain sense, knowledge is more valueable than capital for a developing country .The progress of science and technology and the increase of the storage of human capital have brought a profound change in industrial structure all over the world. . Human capital is a special capital in contrast with physical capital.With the growth of the investment on human capital more and more lasting for a long time ,the marginal produce of human capital will steadily increase. So the investment on human capital helps to overcome the decrease of the marginal produce of physical capital in the progress of the development of economic.So it has a realistic meaning on the study of making a more efficient investment on human capital.The effective tax planning theory was proposed by Myron S?Scholes and Mark A?Wolfson in《Tax and corprate strategy》, 1992.The theory provides an entirely innovative perspetive on tax planning.It indicates that tax is an important infuence element during corporation operating,either in investment strategy or in financing strategy.So it is necessary to consider tax planning as a part of corporate strategy.The theory also proposed an assertion that an effective tax planning should consider all costs(tax and non-tax costs),all parties(not only the corpration itself but others parties related of tax planning) and all taxes(explicit tax and implicit tax).It describes the definition of implicit tax and a methology model of implicit tax.This paper tries to use the effective tax planning theory to analyse the investment of human capital investment in corporation perceptive.This paper utilizes a metrological model to make an analysis on this from the quantitative and qualitative perspectives.Firstly,it introduces the achivement of study on tax planning ,including analysing method,the field of study.Then it makes a systematic analysis and discuss the effective tax planning theory ,such as the theory’s framework,the theory’s analysis principle,the definition of some key concepts,the support theories on which it set on its theoretical framework.Particularly,the paper discusses two models used in measure of implicit tax, that is the S-W model and the C-D model.Then the paper dicusses the human capital and the investment of humam capital combined an econimic angle with an accouting angle.Though human capital is a special capital compared with physical captial.Human capital could be analyzed as the combination of current asset,capital assets and intangibel assets due to the transer and compensation patten of its value .The paper summarizes some models in measuring the velue of human capital on its different capital characteristic.Based on those diccusses and analysis,the paper proposes that the principle of making an effective tax planning on the investment of human capital.With the mothed of correlation analysis ,the paper measuers the marginal tax rates and marginal profit of human capital contrasted with physical capital . based on the data collected from listed companies classified from five industries.The last part of the paper is the conclusions,suggests and limits of the research.更多还原