股权激励作为公司经营中的一种激励手段,将公司的利益与员工的利益绑定在一起,从而有助于调动员工工作积极性和效率,实现公司效益的最大化。虚拟股份在实务操作中作为公司上市前一种股权激励的方式存在,它有一定的合理性,但在现有公司法等相关法律框架下存在空白地带,在有限公司的背景前提下,将对虚拟股份制中蕴含的人力资本出资问题进行探讨,以厘清人力资本出资是否具有可行性。 Equity incentive, as a kind of encouragement in the operation of the company, binds the interests of the company and employees’ interests, which helps to arouse the enthusiasm and efficiency of employees and maximize the benefits of the company. There is a certain degree of rationality in the actual operation of the virtual shares as a means of equity incentive before the listing of the company, but there is a gap in the legal framework of the existing company law. Under the background of the limited company, This paper discusses the issue of human capital investment in virtual shareholding system to clarify whether it is feasible to invest human capital.