近代荣家企业投机研究——基于财务史料的视角

发布时间：2018-03-23 02:17

本文选题：近代荣家企业　切入点：冒险精神　出处：《中国经济史研究》2017年01期 　论文类型：期刊论文

【摘要】：在对近代荣家企业的研究中,关于其20世纪20年代末到30年代初大规模投机的分析甚少。仅笔者搜集的财务资料记载就显示,荣家企业的投机交易历史长达18年(1921-1938),本文把荣家企业的投机活动划分为四个阶段:钱庄时期、操纵国内市场时期、国内交易所时期、国际交易所时期。经过对与荣家企业投机相关的财务资料的梳理和分析,本文认为:20世纪30年代,荣家企业爆发大危机的直接原因是国际期货市场投机失败造成的巨额亏损;间接原因则是企业大股东和高管大规模卷入投机交易活动,进而导致实业经营的混乱。荣家企业参与投机的动机,与其对异常动荡的原料和产品市场的风险控制意图相关。但荣家在投机的路上越走越远,偏离了实业基础,最终因为在国际期货市场上的惨重损失而致申新搁浅。
[Abstract]:In the study of modern Rongjia enterprises, the analysis of large-scale speculation from the late 1920s to the early 1930s is very few. Only the financial data collected by the author show that, The speculative trading history of Rongjia enterprises is 18 years from 1921 to 1938. This paper divides the speculative activities of Rongjia enterprises into four stages: the period of money bank, the period of manipulating the domestic market, the period of domestic exchange. During the period of international exchange. After combing and analyzing the financial information related to speculation of Rong Jia enterprises, this paper holds that the direct cause of the great crisis of Rong Jia enterprises in the 1930s is the huge losses caused by the failure of speculation in the international futures market. The indirect reason is that the large shareholders and executives of the enterprises are involved in speculative trading activities on a large scale, which leads to the chaos of the business operation. It has something to do with its intention to control the risk in the unusually volatile raw materials and product markets. But the Rong family has gone further and further along the road of speculation, deviating from the industrial foundation, and finally running aground because of heavy losses in the international futures market.
【作者单位】：上海立信会计金融学院;
【基金】：上海立信会计金融学院校级项目“基于荣氏家族企业案例的近现代中国会计制度变迁研究”支持(项目号:1132IA1112KJYJ11)
【分类号】：F279.29;K25

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