资本

That's mainly because we have no sufficient data those methods need. Following Caser B. Mulligan and Xavier Sala-Martin (1995), we develop a new method to estimate the human capital in Chinese cities. The notion of human capital unit is explicitly defined in this paper. Some assumptions about human capital unit an production technology are also made.

在对单位人力资本和技术进行适当假设的基础上，设计了一个可实现的、人力资本估算框架，估算出单位人力资本在中国各城市所能得到的实际工资水平，并在此基础上估算了中国地级以上城市的人力资本，得到了中国各城市1990-2003年的人均人力资本。

That's mainly because we have no sufficient data those methods need. Following Caser B. Mulligan and Xavier Sala-Martin (1995), we develop a new method to estimate the human capital in Chinesecities. The notion of human capital unit is explicitly defined in this paper. Some assumptions about human capital unit an production technology are also made.

在对单位人力资本和技术进行适当假设的基础上，设计了一个可实现的、人力资本估算框架，估算出单位人力资本在中国各城市所能得到的实际工资水平，并在此基础上估算了中国地级以上城市的人力资本，得到了中国各城市1990-2003年的人均人力资本。

Point out the difference in the circulating of capital movement between western area and eastern area, and point out the main reason of gap formed between the two big regions.

、为了全面考察引进外资对于西部地区的经济影响，尝试性地对西部地区资本市场内的资本形式进行了重新划分，研究了国家资本、地区资本和境外资本在投资方向上的客观差异性。

What's more the relations between different asset are classified to three groups which are the fundamental-derivative relation、the cross sectional relation and the comprehensive relation, on basis of which the asset pricing anomalies are classified individually to different groups.(2)The price model of the capital asset is constructed trailing the path of the asset value's incrementing and transferring. And then a three–factor model is established which can be utilized by the empirical researches. Concretely, under the capital chain, we conclude the relation between the stocks and the corporate assets is a fundamental-derivative one and the research object is the capital asset under the capital chain.

具体而言，本文在资产链的角度下分析股票和公司资产之间的"基础—衍生"关系，明确了本文的研究对象为资产链下的资本资产；建立了公司资产的价值，将公司资产和其基础资产公司的财产联系了起来，构造了资产链上第一个节点——公司资产的价值；将公司资产和资本资产进行了关联，在考虑公司资产变为资本资产的流动性增值后，建立了资本资产的价格模型；在前文资本资产价格模型的基础上进行了收益分解，基于此引入了具有长中短不同决策周期的三类投资者，在存在无风险资产和不存在无风险资产两种情况下分别建立了可用于实证的三因素模型。

The economic growth accounting of China's provinces between 1990 and 2004 finds some results like the following: no matter whether human capital was introduced or not, there were technological inefficiencies in most provinces'economic activity which were pure technological inefficiencies or scale technological inefficiencies; technological change, capital deepening and human capital accumulating all promoted labor productivity, but technological efficiency change played a negative role during these years as a whole; the descending order of provincial difference of labor productivities'changes brought out by each factor was technological change, capital deepening, technological efficiency change and human capital accumulating; each province's pure technological efficiency change or scale efficiency change not only had different size, but also different evolution route.

中国各省在1990～2004年间的经济增长核算结果表明：不论是否引入人力资本，大多数省份的经济活动都存在着技术无效率，这既包括纯技术无效率，也包括规模无效率；技术进步、资本深化和人力资本积累都促进了劳动生产率的提高，而技术效率的变化整体上来说在其中起阻碍作用；各因子引致的劳动生产率变化的省际差异从大到小依次为技术进步、资本深化、技术效率的变化和人力资本积累；各省的纯技术效率或规模效率的变化不仅大小不同，而且它们的演变路径也不一样。

By these analysis and research, it puts forward that the contradiction of agriculture production and big market is the base of system changing of agriculture industrialization; it is the basic way to system changing and organization innovating that it can provide enhancive organization system guarantees for the development of agriculture industrialization by promoting actively agriculture resources and production factors to become capital on the base of the present production factors system of ownership in country; it can promote modern agriculture to come into being by resolving thorough the contradiction of agriculture production and big market and satisfy socialization big production; The stock cooperative system is a direction of managerial organization innovation of agriculture industrialization because it can make production factors flow and be recomposed, and promote actively agriculture resources and production factors to become capital, and realize per capital to be accumulated, and satisfy socialization big production of agriculture.

通过这些研究和分析提出了：我国农业生产与大市场之间的矛盾是农业产业化制度变迁的基础；制度变迁和组织创新的基本途径是在现有农村生产要素所有制的基础上，通过农业资源及生产要素资本化的制度创新，为农业产业化经营提供强有力的组织制度保障，从根本性上解决农业生产与大市场之间的矛盾，满足社会化大生产的需要，推动我国农业向现代农业的转变；股份合作制能较好地促进不同生产要素的流动和重组，积极推动农业资源及生产要素资本化，实现单个资本向社会资本的转化，促进农业资本的积累，满足农业社会化大生产的需要，是农业产业化经营组织创新的基本取向。

The attitude that we hold to the fictitious capital development should be that: the development of the real economy is the kernel of Chinese economic development, we should satisfy the needs of the development of the real economy better through expanding the quantity and categories of the fictitious capital appropriately; we should pay attention to harmonizing the dialectical relation between fictitious capital and the real economy, so that we can make use of the positive effect of the fictitious capital to the real economy, and prevent the harm that may caused by fictitiousness and capital character of the fictitious capital.

我们对虚拟资本发展的态度：以实体经济的发展作为中国经济发展的核心，通过适度发展虚拟资本的种类和数量来更好地满足实体经济发展的需要；注意协调好虚拟资本与实体经济的辨证关系，发挥虚拟资本市场促进实体经济发展的积极作用，并始终警惕虚拟资本的虚拟性和资本性可能造成的危害。

On the basis of the formulization of human capital investment theoretic, this paper analyses the feature, form and subject between human capital investment and the formation of human capital, then compares the present situation of them vertically and horizontally.

本文在对人力资本投资理论阐述的基础上，对人力资本投资与人力资本的形成的特点、形式和主体进行了分析，进而对我国人力资本投资和人力资本形成的现状进行了纵向和横向比较。

On the basis of these theories , the author brings forward a new perspective of research. Furthermore, all the demonstration establishes the theory basis for the latter positive study, and the author solves the practical problem by means of positive results. 2.This paper puts forward the management model "cardiogram of the capital returns change process". The author compares the capital returns change process with heart-throb, and introduces the system of firm's value creation.

提出了"资本收益运动过程心电图"的管理模型，将资本收益的运动过程形象的比拟为心脏搏动的动态过程，形成了企业价值创造系统，运用价值链理论，通过鱼刺图价值分解法从平衡计分卡的四个维度来梳理和明确企业价值战略目标，将价值运动过程的驱动因素逐步分解，尤其是从人力资本的视角探讨了智力资本在资本收益过程中的重要作用。

This thesis seeks for the reforming and developing direction to the state-owned enterprises based on the human capital investment. In this thesis, it is one of the basic studies that researching the theory of human capital investment systemically and the theoretical frame of the human capital investment on enterprises, and the other is analyzing the problems on the human capital investment and finding out the method to settle those problems.

基于上述原因，笔者将"我国国有企业的人力资本投资问题研究"作为毕业论文的研究课题，试图从人力资本投资的角度出发，来探索我国国有企业的改革与发展之路，并把研究重点放在了两个方面：一是系统研究人力资本相关理论及企业人力资本投资的理论框架，二是针对我国国有企业的实际情况，分析其在人力资本投资过程中存在的问题及解决办法。

Do you know, i need you to come back

你知道吗，我需要你回来

Yang yinshu、Wang xiangsheng、Li decang,The first discovery of haemaphysalis conicinna.

1〕 杨银书，王祥生，李德昌。安徽省首次发现嗜群血蜱。