清中后期山西票号合伙经营的多元模式及其影响  

On the Multiple Modes of Partner Operation of Shanxi Piaohao in the Middle and Late QingDynastyand Its Influence

作　　者：郝平[1] 李善靖 HAO Ping;LI Shanjing(Shcool of History and Culture,Shanxi University)

机构地区：[1]山西大学历史文化学院,太原030006

出　　处：《清史研究》2024年第5期110-119,共10页The Qing History Journal

基　　金：国家社科基金冷门“绝学”和国别史等研究专项“票号民间文献整理、释读与研究”(19VJX028)和国家社科基金重点项目“近代山西乡村账簿收集整理与研究”(22AZD122)成果。

摘　　要：山西票号内部的三种合伙经营模式分别为:以乾盛亨为代表的单一家族投资、专营金融业模式(1+1),以蔚泰厚为代表的多元投资、专营金融业模式(N+1),以大德通(同兴裕)为代表的多家族投资、兼营金融业和实体业模式(N+N)。这三类票号虽然在资本构成上均采用银人共股的股俸制及东掌制合伙形式,但资本来源和股权结构的巨大差异导致各票号的投资偏好、资本运作模式及抗风险能力均存在很大不同,并深刻影响了各自的发展命运。这三种不同类型的合伙经营模式不仅印证了不同票号群体间的发展路径差异,也表明清代中国的商业合伙经营已经演化到了相当精细的程度。The three partnership business models within the Shanxi Piaohao are:a single family investment and franchised financial industry model represented by Qian Shengheng;the diversified investment holding and franchised financial industry model represented by Wei Taihou;the model of multiple family investment,concurrent operation of financial industry and entity industry represented by Dadetong(Tongxingyu).These three types of Piaohao all implement the salary system of silver co-shares and the partnership form of east control system.However,the huge differences in their capital sources and ownership structures lead to great differences in investment preferences,capital operation modes and anti-risk capabilities of each piaohao,and have a profound impact on their respective development fate.The above three different types of partnership models not only confirm the differences in development paths between different piaohao,but also show that China's commercial partner operation has evolved to a fairly fine level during the Qing Dynasties.

关 键 词：山西票号 合伙模式 资本来源 投资偏好 抗风险能力 

分 类 号：K251[历史地理—历史学]