外商在华股份公司的最初发展--关于近代中国股份公司制度起源的研究

近代中国的股份公司制度是在外国资本的刺激和促动下产生的,要了解近代中国股份公司制度的起源,首先必须研究外商在华股份公司的最初发展。股份公司在近代中国的出现,与19世纪中叶世界范围的科技革命以及中外贸易方式的改变有关,也与这种形势下外商在华洋行面临着资金短缺等严重的生存压力有关。1862年,美国旗昌洋行采取种种办法在华商中募股,组建了上海轮船公司。在航运领域之后,金融、制造以及公用事业等行业也相继出现了外商洋行组建的股份公司,这些公司中都有大量的华商附股。直到19世纪70年代,中国人自主创办的股份公司正式成立。洋行在组建股份公司的过程中,曾受到中国当时的经济发展水平和传统经营习惯的制约,为了克服困难,这些股份公司纷纷采取对策,作出调整,结果导致股份公司制度发生了变异:股银分期缴纳制、官利制和有业务股东优惠分红制等外生制度就是这种变异的集中表现。

Early Development of Foreign Merchants' Stock Companies in China: A Study of the Origination of Stock Companies in Modern China

Modern Chinese stock company system appeared to the stimulation and facilitation of foreign capital.So we must first of all study the early development of foreign businessmen's stock companies if we want to know the origination of modern Chinese stock company system.That is,the appearance of modern Chinese stock company is related to the science and technology revolution and the changes of the trade methods between China and foreign countries in the middle of the 19th century world;and it is also concerned with the severe existing pressure upon the banks run by foreign businessmen who were confronted with capital shortage and other problems.In 1862,Russell & Co.under this condition set up,by all means,Shanghai Steam Navigation Company.After that,industries such as finance,manufacture and other public utilities saw the occurrence of stock companies one after another organized by foreign banks.Each of these companies possesses a large number of dependent shares invested by Chinese businessmen.Not until the 70s of the 19th century were some Chinese stock companies formally but autonomously set up.In fact,foreign banks were,while establishing their stock companies,restricted by the then economic level and the traditional operation custom;and in order to solve such problems,these stock companies tried all means to take countermeasures and adjustments,which led to variations in stock company system,for example,the subsidiary systems of share investment by terms,official profit,priority share for those who had direct business communications.