金融信用与大生集团兴衰关系探略

晚清状元张謇在为大生纱厂招募股本时,由于个人资信度问题致使直接融资受挫,从而认识到信用在资本主义经济运行中的重要性,逐步确立起信用至上的理念。在大生的生产经营活动中,张謇坚决维护金融信用,使得个人和企业的资信度不断上升,成为大生走向繁荣的重要原因。近代金融业的“存迫讨”,导致张謇及大生因信用过度膨胀而陷入全面危机,这也是大生日趋衰落的潜因。

Financial Credit and the Vicissitude of Dasheng Group

An industrialist in late Qing Dynasty,Zhang Jian realized the importance of credit in economic activities from his failure in financing for his Dasheng cotton mill.From then on he firmly maintained his credit in running his factory and helped bring about Dasheng's prosperity.However,in the 1920's,its over-inflated credit partly led to its comedown.