Entrepreneur human capital of efficiency shapes core competence, that of exchange is the key to the formation of core competence, and that of motivation is the drive behind the formation.

企业家效率性人力资本是企业核心竞争力形成的基础；企业家交易性人力资本是企业核心竞争力形成的关键；企业家动力性人力资本是企业核心竞争力形成的动力。

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For example, the Securities Exchange Act (1934) and the Investment Company Act (1940) require that regulators consider the likely impact of a proposed regulation on efficiency, competition and capital formation.

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