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In new century, the so-called "new generation of migrant workers" begin to enter adulthood, join in the labor force, and the team shows their characteristics of "migrant workers in common" and "new generation of personality". With obvious problems arised, more and more attention from governments and scholars gather on the new generation of migrant workers. In addition, with the process of age, employment discrimination, industrial transfer phenomenon promoted, the old generation of migrant workers have begun to "return", and the new generation of migrant workers has become the main force of economic development. So it is necessary to observe their flowing phenomena and problems, then to learn and analyze their working and living condition in order to better posture to deal with their problems. This paper’s starting point is from the perspective of human capital investment, and in this way analyzes the new generation of migrant workers’mobility, the reserach will have a very important theoretical and practical significance.Starting from the microscopic analysis of individual, gradually infiltrated into the macro level, this paper is based with the qualitative analysis, supplemented by data support, refered with the theories of labor migration, analyze the new generation of migrant workers’human capital investment behavior from theoretical and practical point. First, to construct a basic model from the frame of human capital theory, with the derivation of the principles of human capital investment decision-NPV and internal rate of return method, to know the individual mainly due to what factors in decision-making process? How these factors affect individual human capital investment decisions, especially in the flowing? Taking into account of the specificity of the new generation of migrant workers, to add a new factor-the spirit proceeds which is determined by individual endowments. Then to relax the assumption of the model, to ananlyze the influences of the institutional changes, policy changes and other factors change in a long time. And then combined with the reality, test the model’s goodness of fit and make the appropriate analysis and interpretation for problems and phenomena. Finally, to propose recommendations from the opinions of governments, enterprises, families and individuals.
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