近代中国企业商号的融资方式与历史作用——基于吸收社会储蓄存款的研究

Financing Mode and Historical Role of Enterprises and Commercial Storein Modern:Research on Social Deposit-taking

在近代中国从传统经济向现代经济转型的过程中,企业商号普遍面临着资金不足的制约。企业商号发展所需的资本有相当部分是通过筹集民间资本实现的,其中吸收社会储蓄存款这一传统的筹资方式发挥着重要作用。二十世纪二三十年代中国企业商号吸收社会储蓄存款出现了新变化,同时储蓄存款在企业商号发展中的作用更为凸显:不仅可以充实企业商号的流动资金,还有相当部分被当作长期资本使用,不仅优化了企业商号的资本结构,还降低了企业商号的融资成本。在企业商号吸收社会储蓄存款的过程中,私人信用和负无限责任这些符合时代特征、具有本土特色而又历经时间检验且行之有效的传统习惯与制度有利于取信社会公众。

In the transition from traditional economy to modern economy in modern China,enterprises and Commercial Stores were generally faced with serious capital constraints.Under this historical background,private financial capital undertakes the heavy burden of capital demand in the process of industrialization in enterprise financing,in which the traditional financing habits and ways of absorbing social savings deposits play an important role.In the 1920s and 1930s,new changes have taken place in the absorption of social savings deposits by Chinese enterprises.At the same time,the role of savings and deposits in the development of enterprise firms was more prominent.They can not only enrich the liquidity of enterprises,but also use a considerable part of them to purchase fixed assets and invest in production equipment.They optimized the financing structure of modern Chinese enterprises and reduced the financing cost.In the process of enterprises absorbed social savings and deposits,with the traditional habits and systems of private credit and unlimited liability,which were in line with the characteristics of the times,have local characteristics and have been proven effective over times,were conducive to gain trust from the public.