宁波和丰纱厂早期融资方式与利润分配研究  

The Financing Mode and Profit Distribution of Ningbo Woo-foog Cotton Mill

作　　者：张跃 孙善根[1] ZHANG Yue;SUN Shan-gen(Faculty of Humanities and Media,Ningbo University,Ningbo 315211,China)

机构地区：[1]宁波大学人文与传媒学院,浙江宁波315211

出　　处：《宁波大学学报（人文科学版）》2023年第2期11-19,共9页Journal of Ningbo University：Liberal Arts Edition

基　　金：国家社科基金重大项目“近代宁波商帮史料收集与整理研究(1840-1949)”(17ZDA201);北京用友公益基金会“商的长城”一般项目“传统信用制度在近代中国企业商号吸收社会储蓄中的历史作用与作用机制研究”(2019-Y07)。

摘　　要：以宁波和丰纺织股份公司(简称和丰纱厂)的董事会议事录为主要依据,考察了该公司早期的融资方式与利润分配情况。研究表明,早期的和丰纱厂主要通过董事垫款、红利转股、公积金提取和折旧等内源性融资方式来筹集大部分资金,这是由宁波本地特有的金融环境决定的。过度的利润分配是早期和丰纱厂经营中的另一个显著特征,这既与中国近代官利的刚性分派制度有关,也是和丰纱厂内源性融资为主、不作多余投资和管理层需要的独特性决定的。Based on the records of the board of directors of Ningbo Woo-foog Cotton Co., Ltd.(hereinafter referred to as Woofoog Cotton Mill), this paper aims to investigate the early financing methods and profit distribution of the company. The research show that Ningbo Woo-foog Cotton Mill mainly raised funds through endogenous financing methods such as directors’ advance,dividend conversion, withdrawal of provident fund and depreciation in the early stage, which was determined by the unique financial environment of Ningbo. Excessive profit distribution was a significant feature of Woo-foog Cotton Mill in the early stage,which was not only due to the mandatory provisions of official profit distribution in modern Chinese business circles, but also related to the uniqueness of Woo-foog Cotton Mill’s endogenous financing, no redundant investment and the needs of management.

关 键 词：和丰纱厂 股份制 融资方式 利润分配 

分 类 号：K29[历史地理—历史学]