云南财经大学硕士学位论文资源整合能力、创业导向对创业绩效的影响研究姓名：谷宏申请学位级别：硕士专业：技术经济及管理指导教师：王建中2011-05
햪 튪 햪 튪 뷼쓪살ꎬ훐맺뒴튵믮뚯쿠떱믮풾ꎬ튻횱쫇짧믡맘힢뗄죈뗣ꆣ틔뒴탂캪놾훊뗄뒴튵돉캪벤랢뺭볃믮솦ꎬ췆뚯뺭볃퓶뎤뗄틽쟦ꆣ춬쪱ꎬ뒴튵퓚췆뚯뒴탂뫍듙쪹닺튵짽벶ꎬ뒴퓬탂뗄뻍튵믺믡뗈랽쏦랢믓ퟅ풽살풽훘튪뗄ퟷ폃ꆣ탍웚뗄훐맺ꎬ쫐뎡뺺헹죕쟷벤쇒ꎬ췢늿늻좷뚨탔럧쿕늻뛏퓶볓ꆣ캪쇋룼뫃뗘냑컕쫐뎡믺믡ꎬ탂뒴웳튵튻랽쏦펦룃쳡짽풴헻뫏쓜솦ꎬ쇭튻랽쏦ꎬ펦룃탎돉틔뒴탂탔ꆢ쿈탐탔뫍럧쿕돐떣캪쳘헷뗄뒴튵떼쿲뻶닟쒣쪽ꎬ틔웚퓚탂쪱웚톰쟳풴헻뫏쓜솦폫햽싔뻶닟ퟮ병욥엤ꎬ듓뛸쳡짽뒴튵벨킧ꆣ 맘폚풴헻뫏쓜솦죧뫎펰쿬뒴튵벨킧ꎬ믲헟쮵풴헻뫏쓜솦춨맽쓄킩ퟩ횯틲쯘살뛔뒴튵벨킧닺짺펰쿬ꎬ퓚쓄킩좨뇤틲쫽뗄펰쿬쿂뛔뒴튵벨킧뗄펰쿬룼캪쿔훸뗈ꎬ헢킩컊쳢짐캴뗃떽톧헟쏇뗄맣랺뛸짮죫뗄퇐뺿ꆣ춬쪱ꎬ틔맺췢웳튵캪퇐뺿뛔쿳쯹뗃떽뗄튻킩뒴튵샭싛뷡맻ꎬ쫇럱퓚훐맺쟩뺳쿂뮹쓜쫊폃ꎬ뮹탨뷸튻늽뗄첽쳖ꆣ떱잰ꎬ헫뛔훐맺탂뒴웳튵뛸뾪햹뗄퇐뺿뮹뷏짙ꎬ퇐뺿쓚죝뗄짮뛈뫍맣뛈뮹캴쓜폐킧뗘횸떼뒴튵쪵볹ꆣ 놾퇐뺿틔뒦폚훐맺탍웚쳘뚨쟩뺳쿂뗄탂뒴웳튵캪퇐뺿뛔쿳ꎬ첽쳖쇋뒴튵떼쿲훐뷩쿂뗄뒴튵풴헻뫏쓜솦뛔뒴튵웳튵벨킧뗄펰쿬맘쾵ꆣ쫗쿈뛔뒴튵풴ꆢ풴헻뫏쓜솦ꆢ뒴튵떼쿲뗄룅쓮폫캬뛈뮮럖ꆢ뒴튵벨킧쓚몭벰닢솿횸뇪럖샠뗈랽쏦뷸탐쇋쿠맘뗄컄쿗쫶움ꎬ퓚듋믹뒡짏ꎬ릹붨쇋풴헻뫏쓜솦ꆢ뒴튵떼쿲폫뒴튵벨킧횮볤뗄맘쾵쒣탍ꎬ룅쫶쇋룷튪쯘뗄쓚몭벰캬뛈톡퓱ꎬ쏷좷쇋튪쯘횮볤뗄싟벭맘쾵ꎬ캧죆ퟅ풴헻뫏쓜솦뛔뒴튵떼쿲뗄펰쿬ꎻ풴헻뫏쓜솦뛔뒴튵벨킧뗄펰쿬ꎻ뒴튵떼쿲뛔뒴튵벨킧뗄펰쿬죽룶믹놾맘쾵햹뾪퇐뺿늢쳡돶쇋11쳵볙짨ꆣ퓚뛔퓆쓏쪡250볒탂뒴웳튵뗄컊뻭뗷퇐믱뗃퇹놾쫽뻝뫳ꎬ닉폃틲ퟓ럖컶뫍뷡릹뮯랽돌쒣탍뗄춳볆럖컶랽램뷸탐쇋쪵횤퇐뺿ꆣ좻뫳뛔쒣탍뷸탐쇋볬퇩ꎬ뛔11쳵볙짨퇩횤뷡맻뷸탐쇋쳖싛ꆣ 뇊헟쾵춳맩쓉쇋놾컄뗄훷튪퇐뺿뷡싛ꆣ풴헻뫏쓜솦쫇웳튵뗄튻훖폐샻폚믱뗃돖뻃뺺헹폅쫆뗄뚯첬쓜솦ꆣ풴헻뫏쓜솦뻶뚨ퟅ뒴튵풴쿲ퟩ횯쓜솦뮯뗄킧싊ꎬ쯼펰쿬ퟅ웳튵뗄햽싔뻶닟ꎬ늢ퟮ훕펰쿬ퟅ뒴튵벨킧ꆣ틔뒴튵떼쿲캪훐뷩뇤솿ꎬ붫뒴튵떼쿲햹뾪캪죽캬뛈ꎬ럖뇰퇩횤쇋웤룷캬뛈뛔뒴튵벨킧뗄펰쿬ꎬ춬쪱튲볬닢쇋풴I
햪 튪 헻뫏쓜솦솽캬뛈뛔뒴튵떼쿲뗄펰쿬ꆣ뛸뫳첽쳖쇋풴헻뫏쓜솦뛔뒴튵벨킧뗄횱뷓ퟷ폃ꆣ뻍11쳵볙짨훐캴믱횧돖뗄볙짨뷸탐쳖싛ꎬ룸돶쇋퓚훐맺쳘뚨쟩뺳쿂뛔탂웳튵뗄튻킩웴쪾ꎬ틔웚쓜릻뛔뒴튵쪵볹쳡릩닎뾼뫍횸떼ꆣퟮ뫳첽쳖쇋놾퇐뺿뗄뒴탂뗣ꎬ횸돶쇋퇐뺿짏뮹듦퓚뗄튻킩좱쿝틔벰뮹폐듽뷸튻늽뷢뻶뗄샭싛뫍쪵볹랽쏦뗄컊쳢ꎬ늢쳡돶쇋캴살뗄퇐뺿랽쿲ꆣ 맘볼ퟖ:뒴튵풴ꎻ풴헻뫏쓜솦ꎻ뒴튵떼쿲ꎻ뒴튵벨킧 II
Abstract Abstract For the past few yearsꎬentrepreneurial activity in China was vigorously and it is hot spot of the society all the time. The essence of entrepreneurial activity is innovation, and that kind of entrepreneurial activity has become impetus of economic vitality and economic growth. Meanwhile, entrepreneurial activity plays increasingly important role in pushing forward innovation, urging upgrade industries and create new job opportunities. Transformation is taking place in China, market competition become intense, the risk of external uncertainty increased. As to grasp market opportunity perfectly, entrepreneurial enterprises should promote ability to integrate resources. Also, it should form decision-making mechanism in the organization and Entrepreneurial orientation decision mode with features of innovativeness, leading indicators and assumption of risk. So that the enterprise could seek the best match of ability to integrate resources and strategy decision in the new period, thereby promote entrepreneurial performance. The scholars did not research the problems about how resources integration capability affect entrepreneurial performanceꎬor rather through what organizational factors did resources integration capability affect entrepreneurial performanceꎬand under the influence of what contingency factors resources integration capability has greater effect on entrepreneurial performance widely and deep. Meanwhile, if the theoretical result based on foreign enterprise suit China’s situation need further discussion. Currently, the researches aimed to Chinese new ventures are less, the research depth and breadth could not guide venture practice effectively. This research takes new ventures in the situation of China’s transformational period as research object, discusses the relationships resources integration capability effect on entrepreneurial performance with entrepreneurial orientation as an intermediary variable. Firstly, this article makes relevant summarize of the concept of entrepreneurship resources, resources integration capability, entrepreneurial orientation, its partition of dimensionality, connotation of entrepreneurial performance and measurement indicator. On the basis of it, we built a relational model about resources integration capability, entrepreneurial orientation and entrepreneurial performance. The model overviews the connotation and dimensionality selection, confirms the logical relationship between each element. This article centered on III
Abstract resources integration capability’s influence on entrepreneurial orientation, resources integration capability’s influence on entrepreneurial performance and entrepreneurial orientation’s influence on entrepreneurial performance,11 hypotheses were raised after that .I obtained sampled data through questionnaire survey include 250 new enterprises. I adopt statistical analysis technique of factor analysis and SEM for empirical study. Afterwards, the model was tested, and I discussed about the verification results of 11 hypotheses. The writer sums up main research findings systematically Ability to integrate resources of the enterprise to obtain a sustainable competitive advantage in favor of dynamic capabilities. Resources integration capability determine the efficiency of transformation of organizational capacity, it affects the firm's strategic decision-making, and ultimately affect business performance. The entrepreneurial orientation as mediating variables, entrepreneurial orientation will start for the three degrees, respectively, the dimensions to verify its impact on business performance, but also examined the ability to integrate resources of the two dimensions of entrepreneurial orientation. Ability to integrate resources and then discussed the direct effect on business performance. To 11 to support the hypothesis assumed in the discussions has not been given a specific situation in China, a number of new businesses under the inspiration to start practice can provide reference and guidance. At last, this article discussed about innovation of the research and pointed out limitations, questions of theory and that of practice need further studying and indicate future researches. Key words: entrepreneurship resources; resources integration capability; entrepreneurial orientation; entrepreneurial performance IV
톧캻싛컄풭뒴탔짹쏷 짹쏷ꎺ놾죋쯹돊붻뗄톧캻싛컄ꎬ쫇놾죋퓚떼쪦뗄횸떼쿂ꎬ뛀솢뷸탐퇐뺿릤ퟷ쯹좡뗃뗄돉맻ꆣ뺡컒쯹횪ꎬ돽컄훐틑뺭힢쏷틽폃뗄쓚죝췢ꎬ놾싛컄늻몬죎뫎웤쯻룶죋믲벯쳥틑뺭랢뇭믲킴맽뗄ퟷ욷돉맻ꆣ뛔놾컄뗄퇐뺿ퟶ돶훘튪릱쿗뗄룶죋뫍벯쳥ꎬ뻹틑퓚컄훐틔쏷좷랽쪽뇪쏷ꆣ놾죋췪좫틢쪶떽놾짹쏷뗄램싉뷡맻평놾죋돐떣ꆣ 싛컄ퟷ헟잩쏻ꎺ 죕웚ꎺ 쓪 퓂 죕 톧캻싛컄냦좨쪹폃쫚좨쫩 놾죋췪좫쇋뷢퓆쓏닆뺭듳톧폐맘놣쇴ꆢ쪹폃톧캻싛컄뗄맦뚨ꎬ벴ꎺ톧킣폐좨놣쇴늢쿲맺볒폐맘늿쏅믲믺릹쯍붻싛컄뫍싛컄뗧ퟓ냦ꎬ퓊탭톧캻싛컄놻닩퓄믲뷨퓄ꎻ톧킣뿉틔릫늼톧캻싛컄뗄좫늿믲늿럖쓚죝ꎬ뿉틔닉폃펰펡ꆢ쯵펡믲웤쯼뢴훆쫖뛎놣듦ꆢ믣뇠ꆢ랢뇭톧캻싛컄ꎻ쫚좨톧킣붫톧캻싛컄뗄좫컄믲늿럖쓚죝뇠죫ꆢ쳡릩폐맘쫽뻝뿢뷸탐볬쯷ꆣ ꎨ놣쏜뗄톧캻싛컄퓚뷢쏜뫳ퟱ톭듋맦뚨ꎩ 싛컄ퟷ헟잩쏻ꎺ 떼쪦잩쏻ꎺ 죕웚ꎺ 쓪 퓂 죕 죕웚ꎺ 쓪 퓂 죕
뗚튻헂 탷싛 탷싛?₵?믕술뗚튻뷚 퇐뺿놳뺰 20쫀볍70쓪듺틔살ꎬ좫쟲뺭볃쳥훆랢짺쇋짮뿌뗄뇤뮯ꎬ틑뺭듓ꆰ맜샭탍ꆱ뺭볃쿲ꆰ뒴튵탍ꆱ뺭볃ꆣ뒴튵돉캪췆뚯뺭볃퓶뎤뗄훘튪솦솿ꎬ쫇튻맺뺭볃믲뗘쟸랱죙뗄믹뒡ꆣ뷸죫21쫀볍ꎬ뿆톧벼쫵죕탂퓂틬ꎬ뺭볃좫쟲뮯죕틦볓짮ꎬ맺볊뮯뺺헹죕쟷벤쇒ꎬ틔뒴탂캪놾훊뗄뒴튵돉캪벤랢뺭볃믮솦ꎬ췆뚯뺭볃퓶뎤뗄틽쟦ꆣ뷼쓪살ꎬ훐맺뒴튵믮뚯쿠떱믮풾ꎬ튻횱쫇짧믡맘힢뗄죈뗣ꆣ탍웚뗄훐맺ꎬ뒴튵퓚췆뚯뒴탂뫍듙쪹닺튵짽벶ꎬ뒴퓬탂뗄뻍튵믺믡뗈랽쏦랢믓ퟅ풽살풽훘튪뗄ퟷ폃ꆣ 떱뷱ꎬ훐맺뗄뒴튵믮뚯헽타타쿲죙ꆣ룹뻝좫쟲뒴튵맛달훐맺놨룦ꎨGlobal Enterpreneurship Monitor,GEMꎩ춳볆ꎬ2007쓪ꎬ훐맺퓚ퟜ쳥뒴튵믮뚯횸쫽짏업쏻뗚컥캻ꎬ튻횱놣돖ퟅ믮풾ힴ첬ꆣ춨맽좫쟲뒴튵맛달랢늼뗄놨룦컒쏇튲뾴떽ꎬ훐맺뗄뒴튵믮뚯랢짺뗄튻킩뇤뮯ꆣ틔2007쓪좫쟲뒴튵맛달훐맺놨룦캪샽ꎬ쫽뻝쿔쪾퓚맽좥쇹쓪ꎨ2002-2007ꎩ볤ꎬ훐맺뗄뒴튵믮뚯틑뺭쪵쿖탍ꎬ듓짺듦탍캪훷쿲믺믡탍캪훷ꆣ2007쓪ꎬ컒맺뗄믺믡탍뒴튵뇈훘듓2002쓪뗄40%쳡룟떽%ꎬ뛸짺듦탍뒴튵뇈훘붵뗍떽%ꆣ틲듋ꎬ훐맺뗄뒴튵탍뿉틔쮵틑뺭췪돉ꎬ벴훐맺떱잰뗄뒴튵믮뚯훷쳥샠탍틑뺭듓풭살뗄짺듦탍뒴튵쿲믺믡탍뒴튵뇤ꆣ뺡맜죧듋ꎬ훐맺뗄뒴튵뮷뺳퓚37룶맺볒훐업쏻뗚17캻ꎬ쎻폐듯떽솼뫃ힴ뿶ꆣ퓚뒴튵뮷뺳쳵볾룄짆랽쏦ꎬ훐맺쫐뎡뾪럅돌뛈뇈뷏룟ꆢ퇐뺿뾪랢틆ꆢ헾뢮헾닟뫍헾뢮쿮쒿틔벰폐탎믹뒡짨쪩ꎻ뷏닮뗄쫇뷰죚횧돖ꆢ뷌폽뫍엠통틔벰횪쪶닺좨놣뮤ꎬퟮ닮뗄랽쏦쫇짌컱뮷뺳ꎬ벴캪뒴튵쳡릩럾컱뗄뮷뺳쳵볾ꆣ훐맺뒴튵헟퓚뒴튵뚯믺ꆢ뒴튵믺믡뫍뒴튵쓜솦랽쏦랢햹ꋙ늻욽뫢ꆣ훐맺뗄뒴튵쫴폚뒴튵틢풸잿ꆢ뒴튵믺믡뛠ꆢ뒴튵뺫짱잿ꆢ뒴튵쓜솦죵뗄ힴ뿶ꆣ뷘훁떽2007쓪뗗ꎬ뺭릤짌늿힢닡뗇볇뗄훐킡웳튵뗄쫽솿햼좫맺웳튵ퟜ쫽솿뗄%ꎬ헢킩훐킡웳튵뛔훐맺뺭볃퓶뎤틔벰뒴퓬뻍튵룚캻랢믓ퟅ훘듳ퟷ폃ꆣ 20쫀볍90쓪듺틔살ꎬ뒴튵퇐뺿튲돉캪톧쫵뷧퇐뺿뗄붹뗣ꆣ뒴튵샭싛퇐뺿뗄짮죫첽쯷쫇캪쇋룼뫃뗘럾컱뒴튵쪵볹ꎬ틔웚폐킧뗘횸떼뒴튵믮뚯ꆣ늻춬톧뿆놳뺰뗄톧헟믹폚룷ퟔ뗄퇐뺿쒿뗄ꎬ뛔뒴튵믮뚯뷸탐쇋맛달뫍퇐뺿ꎬ쯹탎돉뗄돉맻죕붥럡뢻ꆣ ꋙ 1
뗚튻헂 탷싛 떱잰뒴튵퇐뺿폐솽룶쿔훸쳘뗣ꎺ튻쫇퇐뺿컊쳢풽살풽쾸뮯ꎬ뫜뛠컄쿗닠훘폚뒴튵쒳킩뻟쳥쇬폲ꎻ뛾쫇퇐뺿쫓튰풽살풽뿭랺ꎬ닠훘뒴튵퇐뺿뗄뫪맛럖컶ꎬ냼삨뒴튵톧쫵뗘캻첽쳖ꎬ뒴튵퇐뺿랽램럖컶ꎬ뒴튵랢햹랽쿲뗈ꎬ헢훷튪폫뒴튵퇐뺿뮹뒦폚늻돉쫬뷗뛎폐맘(Lowꎬ 2001)ꆣ뒴튵ퟷ캪짧믡뿆톧뗄튻룶럖횧ꎬ쯼뇘탫폐튻룶뿲볜쳥쾵살뷢쫍뫍풤닢튻킩뺭퇩쿖쿳ꆣ쒿잰맺췢뒴튵퇐뺿헽뒦랽탋캴났ꎬ맺쓚뒴튵퇐뺿튲쿠떱믮풾ꆣ늻춬톧헟럖뇰뛔뒴튵룅쓮ꎬ뒴튵쓚틲ꎬ뒴튵믺믡ꎬ뒴튵햽싔뫍뒴튵벨킧뷸탐맽짮죫럖컶뫍퇐뺿ꎬ뛔뒴튵퇐뺿ퟶ돶쇋톧쫵릱쿗ꆣ떫늻싛맺쓚뮹쫇맺췢폐맘뒴튵퇐뺿뚼쎻폐탎돉튻룶췪헻뗄쳥쾵ꎬ뛔뒴튵퇐뺿훐뗄폐킩맘볼컊쳢튲쎻폐탎돉튻훂탔틢볻ꆣ헢뻍떼훂쇋뛔폚뒴튵퇐뺿뗄쒳춬튻릹쓮ꎬ늻춬톧헟돶폚늻춬놳뺰ꎬ퇐뺿랽램벰늻춬쒿뗄ꎬ룸돶쇋늻춬쓚몭샭뷢ꆣ 뗚뛾뷚 컊쳢뗄쳡돶 뒴튵틑돉캪췆뚯뺭볃퓶뎤뗄틽쟦ꎬ쯼퓚췆뚯닺튵짽벶폫퓶볓뻍튵믺믡뗈랽쏦뗄릱쿗튲풽살풽춻돶ꆣ떫쫇,늢럇쯹폐뗄뒴튵헟ퟮ훕뚼쓜믱뗃돉릦ꆣ훐맺뒴튵웳튵듦퓚ퟅ맘뇕싊룟뗄컊쳢ꎬ뛸쟒뒴튵샭싛퇐뺿훍뫳ꎬ늻쓜폐킧뗘횸떼뒴튵쪵볹ꆣ컒맺폖뒦폚믺믡탍뒴튵믮뚯늻뛏퓶볓뷗뛎ꎬ뛸쳘뚨뗄맦싉풴폚쳘뚨뗄뮷뺳ꎬ풴ퟔ랢듯맺볒뗄뒴튵샭싛쫇럱뮹쫊뫏펦폃폚훐맺쳘즫쿂뗄뒴튵쪵볹ꎬ헢쫇튻룶탨튪톧헟퓙짮죫퇐뺿볬퇩뗄컊쳢ꆣ떱잰컒맺탂뒴웳튵평폚쫜탂뷸죫틔벰풴풼쫸뗄펰쿬ꎬ뒴튵헟쓑틔듓췢늿뮷뺳훐믱뗃ퟣ릻뗄뒴튵풴살횧독탂웳튵좥뾪랢짌튵믺믡ꆣ퓚헢훖쳘뚨뗄뮷뺳놳뺰쿂ꎬ탂뒴웳튵죧뫎룹뻝ퟔ벺뗄쓜솦뷸탐풴헻뫏ꎬ쳡짽웳튵벨킧쫇맘볼쯹퓚ꆣ쓇쎴풴헻뫏맽돌폫탂뒴웳튵벨킧맘쾵뺿뺹죧뫎ꎿ퓵쎴퇹뷸탐풴헻뫏닅쓜룄짆웳튵벨킧ꎿ뒴튵떼쿲폖붫죧뫎펰쿬탂뒴웳튵뗄벨킧쓘ꎿ풴헻뫏쓜솦춨맽뒴튵떼쿲훐뷩ퟷ폃붫폖믡뛔뒴튵벨킧닺짺쪲쎴퇹뗄펰쿬쓘ꎿ톧쫵뷧뛔헢킩컊쳢뗄첽쳖뛠벯훐샭싛췆떼ꎬ뛸뛔탂뒴웳튵뗄뗷퇐ꎬ뾪햹쪵횤퇐뺿뫜짙ꆣ춬쪱캴쓜붫풴헻뫏쓜솦ꆢ뒴튵떼쿲폫탂뒴웳튵벨킧폐믺뗄뷡뫏살퇐뺿ꆣ 틲듋ꎬ놾컄쫔춼퓚훐맺퓆쓏쪡쟩뺳쿂릹붨튻룶풴헻뫏쓜솦ꆢ뒴튵떼쿲폫뒴튵벨킧맘쾵퇐뺿뗄쒣탍ꎬ퇩횤퓚틽죫잰훃뇤솿풴헻뫏쓜솦뫳ꎬ뒴튵떼쿲폫뒴튵벨킧맘쾵컊쳢ꎬ틔벰풴헻뫏쓜솦뛔뒴튵떼쿲ꆢ뒴튵벨킧웰떽퓵퇹뗄펰쿬ꎬ헢헽쫇놾컄튪뷢뻶뗄컊쳢ꆣ 2
뗚튻헂 탷싛 뗚죽뷚 퇐뺿뗄틢틥 튻ꆢ톧쫵틢틥 1ꆢ뇤솿캬뛈뗄뮮럖짏ꆣ맘폚풴헻뫏쓜솦캬뛈뗄뮮럖ꎬ맺쓚췢틑뺭폐톧헟뛔듋뷸탐쇋퇐뺿ꎬ듓풴헻뫏뗄맽돌살뮮럖캪죽캬뛈믲쯄캬뛈ꆣ떫맺쓚뮹쎻폐뛠짙톧헟뷸탐맽쪵횤럖컶ꆣ놾컄붫풴헻뫏쓜솦뮮럖캪풴릹붨쓜솦폫풴샻폃쓜솦솽룶캬뛈ꎬ늢춨맽쪵횤럖컶뗃떽쇋퇩횤ꎬ췘햹쇋풴헻뫏쓜솦퇐뺿샭싛ꎻ쇭췢ꎬ놾컄뗄퇐뺿뷡맻쿔쪾ꎬ뒴튵벨킧뗄믱샻탔폫돉뎤탔뻟폐룟뛈쿠맘ꎬ솽헟쫇춳튻뗄ꎬ쿠뮥듙뷸ꎬ릲춬쳡룟ꆣ헢폫틔췹뗄퇐뺿뷡싛늻튻퇹ꎬ퓚탂뒴웳튵훐ꎬ헢튻쿠뮥맘쾵룼캪쿔훸ꎬ틲캪탂뒴웳튵뿉틔춨맽뿬쯙돉뎤살믱뗃룼뫃뗄닆컱벨킧ꎬ뛸믱샻탔잿뿉틔횧독탂뒴웳튵룼뫃뗘돉뎤랢햹ꆣ 2ꆢ놾컄쪵횤럖컶닉폃쇋뷡릹랽돌쒣탍(Structural Equation ModelꎬSEM)ꆣ헢튻춳볆럖컶랽램퓚뒴튵퇐뺿훐뷏캪짙볻ꆣ쾣췻쓜릻췆뚯뷡릹랽돌쒣탍랽램퓚뒴튵샭싛퇐뺿훐뗄펦폃ꆣ 3ꆢ퇩횤쇋뒴튵떼쿲룷룶캬뛈뛔뒴튵벨킧뗄펰쿬ꆣ틔췹뗄퇐뺿룼뛠뗘쫇맘힢뒴튵떼쿲뛔뒴튵벨킧뗄횱뷓ퟷ폃ꎬ쪹뗃퇐뺿뗄뷡싛캴쓜춳튻ꆣ놾컄죏캪뒴튵떼쿲뗄죽룶캬뛈쫇쿠뮥뛀솢뗄ꎬ틲듋퇐뺿룷룶캬뛈뛔뒴튵벨킧뗄펰쿬ퟷ폃뻍쿔뗃룼폐틢틥ꆣ춬쪱놾컄튲퇩횤쇋풴헻뫏쓜솦뛔뒴튵떼쿲폫뒴튵벨킧뗄듙뷸ퟷ폃ꆣ헢샠죽룶뒴튵튪쯘뗄뒴튵쒣탍퇐뺿ꎬ퓚맺쓚뮹뫜짙ꎬ쾣췻쓜캪컒맺뒴튵퇐뺿샭싛ퟷ튻뗣뗣릱쿗ꆣ 뛾ꆢ쪵볊틢틥 탂뒴웳튵평폚쫜떽탂뷸죫좱쿝뫍풴풼쫸뗄펰쿬ꎬ쪹뗃웳튵쫙쏼뚼늻뎤ꆣ탭뛠톧헟뾼달쇋뒴튵헟뗄뒴튵탐캪뫍뻶닟ꎬ첽쳖쇋뒴튵헟헻뫏풴뗄랽쪽뫍킧싊ꎬ떫죧뫎쳡짽탂뒴웳튵뗄풴헻뫏쓜솦틔믱뗃뺺헹폅쫆ꎬ죧뫎뷸탐뒴튵떼쿲톡퓱살냚췑삧뺳돉캪탂뒴웳튵쒱쟳뎤풶랢햹뗄맘볼ꆣ놾컄퇐뺿쇋풴헻뫏쓜솦뫍뒴튵떼쿲룷룶캬뛈뛔뒴튵벨킧뗄펰쿬ퟷ폃ꎬ뛔훐맺탂뒴웳튵돉뎤랢햹폐ퟅ뷨본뫍닎뾼틢틥ꆣ퓚떱잰훐맺뺭볃탍웚ꎬ쫐뎡늻릻췪짆ꎬ뒴튵뮷뺳늻릻뿭쯉ꎬ풴헻뫏쓜솦ퟷ캪탂뒴웳튵믱뗃뺺헹폅쫆뗄뫋탄쓜솦붫랢믓ퟅ훘튪뗄ퟷ폃ꆣ쏦뛔췢늿뮷뺳뗄늻좷뚨탔ꎬ탂뒴웳튵뗄뒴튵떼쿲톡퓱붫펰쿬ퟅ뒴튵벨킧ꆣ뚯첬탔돌뛈풽룟ꎬ탂뒴웳튵닉좡튻뚨뗄쎰쿕탐캪믲헟뇈뺺헹뛔쫖쿈탐탐뚯ꎬ뚼붫믱뗃뷏뫃뗄벨킧ꆣ틲듋놾컄퇐뺿풴헻뫏쓜솦뛔뒴튵벨킧뗄펰쿬틔벰뒴튵떼쿲뛔뒴튵벨킧뗄ퟷ폃ꎬ헢뛔탂뒴웳튵뷢뻶쯹쏦뛔뗄쿖3
뗚튻헂 탷싛 쪵컊쳢뻟폐횸떼틢틥ꆣ 뗚쯄뷚 퇐뺿싟벭폫뷡릹 듓뛔듳솿뗄컄쿗ퟛ쫶퇐뺿틔벰퓚룺ퟙ맺쓚췢ퟮ탂퇐뺿돉맻믹뒡짏ꎬ컒쏇랢쿖뒴튵풴뗄훘튪탔뗃떽쇋뿏뚨ꎬ탭뛠톧헟뛔웤뷸탐쇋짮죫퇐뺿ꆣ떫쫇뛔풴헻뫏쓜솦폫돵뒴웳튵벨킧ꆢ뒴튵떼쿲횮볤뗄맘쾵ꎬ뒴튵떼쿲뛔뒴튵벨킧뗄펰쿬ퟷ폃뗈컊쳢ꎬ쒿잰뮹쎻폐쟥컺쏷좷뗄퇐뺿뿲볜ꆣ놾컄쳡돶쇋풴헻뫏쓜솦뛔뒴튵떼쿲ꆢ돵뒴웳튵벨킧뗄펰쿬뗄샭싛쒣탍뫍쿠맘볙짨ꎬ퓚샭싛뾪랢뗄믹뒡짏ꎬ뷡뫏뗷퇐쫽뻝폃맦랶뗄쪵횤럖컶뛔볙짨뷸탐퇩횤ꎬ뛔쒣탍럖컶뷡맻뷸탐쇋쳖싛ꆣퟮ뫳퓚ퟜ뷡뗄믹뒡짏횸돶쇋놾컄퇐뺿뗄뻖쿞틔벰룸돶쇋뛔캴살퇐뺿뗄붨틩ꆣ퇐뺿쮼슷죧춼쯹쪾ꎺ 춼 퇐뺿쮼슷 돽뗚튻헂탷싛췢ꎬ놾컄뗄웤쯼헂뷚쓚죝뷡릹낲업죧쿂ꎺ 뗚뛾헂ꎬ훷튪쓚죝짦벰헻룶퇐뺿뗄컄쿗믘맋ꆣ풴헻뫏쓜솦ꆢ뒴튵떼쿲뫍뒴튵벨킧뗈쿠맘튪쯘틔벰쯼쏇횮볤뗄맘쾵뷸탐쇋샭싛뗄컄쿗믘맋벰움쫶ꆣ 뗚죽헂ꎬ퇐뺿짨볆ꆣ뛔풴헻뫏쓜솦ꆢ뒴튵떼쿲뫍뒴튵벨킧쓚몭뫍캬뛈뷸탐쇋룅쫶ꎬ쳡돶쇋죽헟맘쾵쒣탍ꎬ늢룸돶쇋쿠맘볙짨ꆣ 4
뗚튻헂 탷싛 뗚쯄헂ꎬ쪵횤퇐뺿짨볆ꆣ퓚헢튻헂훐ꎬ훷튪쓚죝쫇뛔쫽뻝럖컶뗄잰웚맽돌ꎬ퇹놾톡좡ꎬ쫽뻝뗄쫕벯ꎬ뇤솿뛈솿틔벰쪵횤퇐뺿붫닉폃뗄춳볆럖컶랽램ꆣ 뗚컥헂ꎬ뷡릹랽돌쒣탍움볛럖컶ꆣ헢튻헂훷튪쓚죝쫇뛔쫽뻝뗄뒦샭뫍럖컶ꎬ뛔쒣탍볙짨뗄볬퇩ꆣ뛔뇤솿킧뛈뫍탅뛈뗄뷸탐럖컶뫍뛔쒣탍볬퇩뫍움볛럖컶ꆣ 뗚쇹헂ꎬ퇐뺿뷡싛폫햹췻ꆣ훷튪쓚죝폐놾퇐뺿뗄뷡싛ꎬ놾컄뗄뒴탂뗣틔벰놾퇐뺿뗄뻖쿞폫햹췻ꆣ5
뗚뛾헂 퇐뺿쿠맘샭싛ퟛ쫶 뗚뛾헂⃑킾뿏???뗚튻뷚 맘폚뒴튵떼쿲뗄퇐뺿 튻ꆢ뒴튵떼쿲룅쓮 듓20쫀볍70쓪듺틔살ꎬ쯦ퟅ뒴튵퇐뺿뗄짮죫ꎬ뒴튵떼쿲ퟷ캪뒴튵퇐뺿쇬폲뗄튻룶훘튪쓚죝ꎬ돉캪훚뛠톧헟맘힢뗄죈뗣ꆣ뒴튵떼쿲ퟮ퓧살풴폚햽싔톡퓱쫓뷇ꎬ뿌뮭뗄쫇웳튵캪쇋ힷ훰믺믡믲삩헅뛸닉좡뗄튻훖뢻폐잰햰탔ꆢ폂폚뒴탂뗄뻶닟쒣쪽ꆣ틽죫뒴튵떼쿲헢튻룅쓮뫳ꎬ햽싔맜샭퇐뺿훐뒴튵뗄믹놾컊쳢뻍평뒴튵뗄쓚죝훰붥쿲뒴튵탐캪톡퓱퇐뺿ꎬ첽쳖뒴튵맽돌훐폐킧뗄뒴튵뻶닟뻍돉캪퇐뺿뗄훘뗣ꆣ퇐뺿헟쏇웕뇩죏캪뒴튵떼쿲쓜릻퓶잿웳튵뺺헹솦늢듸살뻞듳쫕틦ꎬ떫뛔폚뒴튵떼쿲뗄룅쓮죧뫎뚨틥틔벰죧뫎뮮럖캬뛈뷸탐닢솿ꎬ훁뷱뮹듦퓚ퟅ헹틩ꆣ뇈뷏릫죏뗄쫇평Miller(1953)쳡돶뗄뒴튵떼쿲쓚몭늢평Lumpkin & Dess(1996)틔벰Dess & Lmpkin(2005)뷸탐탞룄늢췪짆뗄뚨틥ꆣ Miller(1983)죏캪ꎬ뻟폐뒴튵떼쿲뗄웳튵뇭쿖캪믽벫닎폫닺욷뫍쫐뎡뗄뒴탂ꆢ돐떣튻뚨돌뛈뗄럧쿕ꎬ뛸쟒쫗쿈닉좡잰짣탔뗄뒴탂탐뚯ꎬ폐솦뗘듲믷뛔쫖ꆣ틲듋뒴튵떼쿲냼몬ퟅ뒴탂탔ꆢ럧쿕돐떣뫍쿈탐탔죽룶튪쯘ꆣ 퓚첽쳖뒴튵떼쿲룅쓮쪱ꎬ뗃쟸럖웤폫뒴튵쟣쿲뫍뒴튵뺫짱뗄맘쾵ꆣ뒴튵쟣쿲쫇뒴튵헟뗄잱퓚틢쿲ꎬ쫴폚룶쳥닣쏦짏뗄탄샭톧룅쓮ꎬ쯼쫜떽룶쳥뗄뷌폽놳뺰ꆢ쿈잰횪쪶폫뺭퇩뫍쯹뒦뮷뺳뗄펰쿬ꎨ랶캡ꎬ췵훘쏹ꎬ2004ꎩꆣKrueger (1994)퇐뺿죏캪웳튵퓚뷸탐뒴튵횮잰뇘탫쿈뻟폐뒴튵뗄쟣쿲ꆣJoseph Schumpeter(1932)죏캪뒴튵뺫짱쫇튻훖뒴퓬탔뗄웆뮵믮뚯ꎬ헢웚볤ꎬ웳튵볒늻뛏뗘틔탂뗄닺욷듺쳦샏뗄닺욷ꆣ뛸뒴튵떼쿲쫇웳튵퓚퓋펪맽돌훐뗄튻쾵쇐맽돌틔벰탐캪ꎬ틲듋ꎬ폫뒴튵쟣쿲뗄쟸뇰퓚폚룅쓮쯹쫴뗄닣듎늻춬ꎬ뒴튵쟣쿲짦벰뗄쫇룶쳥닣쏦ꎬ뛸뒴튵떼쿲뮹삩햹떽ퟩ횯닣쏦ꆣ뒴튵뺫짱맘힢뗄쫇룶죋믲웳튵닣쏦쯹뾪햹뗄뒴튵탐캪뗄쳘헷뇭쿖ꎬ뛸뒴튵떼쿲뻛붹뗄쫇웳튵닣쏦뒴튵탐캪뗄놾짭ꆣ ퟛ뫏틔짏톧헟뛔뒴튵떼쿲쓚몭뗄퇐뺿뷡싛ꎬ놾컄죏캪뒴튵떼쿲쫇횸웳튵퓚돉뎤랢맽돌훐ꎬ쏦뛔탂뗄뷸죫컊쳢믲햽싔뻶닟쪱쯹쳥쿖돶뗄뒴탂탔ꆢ럧쿕돐떣뫍쿈탐탔뗄뒴튵뺫짱뫍탐캪쟣쿲ꆣ 6
뗚뛾헂 퇐뺿쿠맘샭싛ퟛ쫶 뛾ꆢ뒴튵떼쿲뗄캬뛈 맺췢듳솿뗄컄쿗뛔뒴튵떼쿲뗄캬뛈뷸탐쇋퇐뺿ꎬ떫평폚늻춬톧헟믹폚웤룷ퟔ뗄퇐뺿쒿뗄ꎬ쳡돶뗄캬뛈뮮럖랽램튲늻뺡쿠춬ꆣHart(1992)죏캪웳튵퓚훆뚨뻶닟뗄맽돌훐ꎬ폐튻쳗뛀쳘뗄탐캪쒣쪽뫍쟣쿲ꎬ뛸웳튵훆뚨햽싔뗄맽돌뻍냼몬닟싔쪶뇰ꆢ닟싔톡좡틔벰횴탐맜샭뗄튻쾵쇐탐캪믮뚯ꆣ캪쇋쓜릻쏨쫶돶헢훖뻶닟쒣쪽뗄틬훊탔뫍릲탔ꎬ톧헟쏇붫뒴튵떼쿲뮮럖쇋탭뛠캬뛈살볓틔쮵쏷ꆣ Miller(1983)죏캪ꎬ뻟폐뒴튵떼쿲뗄웳튵펦룃믽벫뗘닎폫닺욷뫍쫐뎡뗄뒴탂ꆢ돐떣튻뚨돌뛈뗄럧쿕ꎬ뛸쟒쿈폚뺺헹뛔쫖뾪햹뒴탂탔탐뚯ꎬ폐솦뗘듲믷뛔쫖ꎬ벴쳡돶뒴탂탔ꆢ럧쿕돐떣뫍쿈탐탔죽룶캬뛈ꆣ Lumpkin & Dessꎨ1996ꎩ붫뒴튵떼쿲뮮럖캪컥룶캬뛈살뿌뮭웳튵뻶닟쒣쪽뗄릲탔뫍쳘탔ꎬ냼삨뒴탂쟽뚯ꆢ럧쿕돐떣ꆢ쿈탐탔ꆢ탐뚯ퟔ훷폫뺺헹뷸좡탔ꆣ쯻쏇죏캪ꎬ떥튻캬뛈뗄닢솿늻쓜뛔룷훖샠탍뗄뒴튵믮뚯뷸탐폐킧뗄뷢쫍ꎬ뛸쟒뮹뫶싔쇋웤쯼캬뛈뛔뒴튵떼쿲룅쓮뗄릱쿗ꆣ컥룶캬뛈훐ꎬ뒴탂탔ꆢ럧쿕돐떣폫쿈탐탔쫇뫳탸퇐뺿닉폃ퟮ뛠뗄죽룶ꆣ쿖퓚뗄퇐뺿튲쪵횤퇩횤쇋헢죽룶캬뛈쒣탍퓚뿧컄뮯뫍쟸폲퇐뺿훐뿉뾿탔ꆣ 뷼쓪살ꎬ톧헟쏇뛔룷룶늻춬뗄캬뛈쒣탍뷸탐쇋퇐뺿뫍퇩횤ꎬ랢쿖폐킩캬뛈횮볤쫇훘뫏뗄ꎬ룅쓮횮볤횻쫇쏨쫶늻춬ꎬ헢쪹뗃퓚쿖쪵뗄뛔캬뛈뷸탐닢솿쪱쓑틔폐킧쟸럖ꆣ컞싛쫇붫뒴튵떼쿲뮮럖캪죽캬뛈믲컥캬뛈ꎬ퓚뛔뒴튵떼쿲뷸탐퇐뺿쪱ꎬ뚼펦붫웤냼몬쯹폐뗄튪쯘뾼싇뷸좥ꆣ뒴튵떼쿲룅쓮쫇평뛠캬뛈릹붨뗄ꎬ뛔웤뷸탐뮮럖펦쪹룷룶캬뛈횮볤뻟폐튻뚨뗄뮥돢탔ꎬ뛸늻쫇솪뚯뗄ꆣ keiseretal(2002)룼쫇쏅뒴탂탔ꆢ쿈탐탔뫍럧쿕돐떣죽룶틲쯘뗄닢솿뷸탐쇋쪵횤퇐뺿ꎬ뷡맻쿔쪾죽룶틲쯘횮볤맘솪돌뛈뫜킡ꎬ뛸쟒퇩횤돶뛀솢뗄죽캬뛈뷡릹쓜릻룼뫃뗘뷢쫍뒴튵떼쿲ꆣ맺쓚ꎬ샮쓾ꎨ2005ꎩ튲퓚훐맺쟩뺳쿂퇩횤쇋뒴튵떼쿲죽캬뛈횮볤뗄뛀솢탔틔벰룷룶캬뛈뛔ퟩ횯벨킧뗄늻춬펰쿬ꆣ 놾컄퇐뺿뗄뛔쿳훷튪쫇탂뒴웳튵ꎬ탂웳튵뗄쳘뗣퓚폚ퟩ횯뷡릹볲떥ꎬ쇩믮탔잿ꎬ뻶닟킧싊쿠뇈듳웳튵뛸퇔룼룟ꆣ탂웳튵평폚쫜탂뷸죫뫍풴풼쫸펰쿬ꎬ탨튪뾪췘뒴탂ꎬ닉좡쿈폚뛔쫖뗄탐뚯ꎬ늢돐떣튻뚨뗄럧쿕ꆣ헢퇹놾컄닉좡뒴탂탔ꆢ쿈탐탔뫍럧쿕돐떣살뫢솿뒴튵떼쿲ꆣ 1ꆢ뒴탂탔 뒴탂쫇뒴튵믮뚯뗄뫋탄쓚죝ꎬ쫇뒴튵탍ퟩ횯ퟮ믹놾뗄죎컱ꆣ뒴탂탔랴펳쇋웳튵7
뗚뛾헂 퇐뺿쿠맘샭싛ퟛ쫶 훂솦폚쓇킩뿉쓜닺짺탂닺욷뫍탂짺닺릤틕뗄뒴틢뫍쪵퇩맽돌뗄탐캪쟣쿲ꆣSchumpeter(1984)ퟮ쿈퇐뺿쇋뒴탂퓚뒴튵믮뚯훐쯹냧퇝뗄훘튪뷇즫ꆣ춬쪱Schumpeter(1984)쏨쫶쇋튻훖뒴탂탔뗟뢲뗄뺭볃맽돌ꎬ횸뗄쫇춨맽탂뗄닺욷믲럾컱뗄틽죫ꎬ붫풴평뻉쫐뎡쿲탂쫐뎡틆ꎬ듓뛸뒴퓬탂뗄볛횵ꆣ뛸헢튻맽돌뗄맘볼뻍쫇뒴탂ꆣDrucker죏캪뒴탂쫇뒴튵헟뿉틔샻폃뗄튻훖쳘쫢릤뻟ꎬ쯼쓜릻췆뚯닺튵뇤룯ꆣ뒴튵틔뒴탂캪놾훊ꎬ돉릦뗄뒴튵헟춨뎣믡닉좡뺺헹탔뗄닟싔퓚탂쫐뎡짏믱좡쯹탨풴ꆣ잱퓚뗄뒴튵헟죧맻쓜릻폐킧뗘탎돉헢튻뻶닟탐캪쟣쿲ꎬ붫쳥쿖돶뒴탂뺫짱뫍뒴퓬솦뗄쳘헷ꆣMiller(1982)죏캪뒴탂탔폫닮틬뮯헽쿠맘ꎬ벴뻟폐뒴탂탔웳튵췹췹쟣쿲폚퓋폃닮틬뮯햽싔ꎬ퓚늻춬쫐뎡짏춶럅늻춬닺욷뫍럾컱틔싺ퟣ뛠퇹탨쟳ꆣ뒴탂탔랴펳쇋웳튵횧돖튻킩탂쫂컯뫍훂솦폚뒴퓬탔맽돌뗄쟣쿲ꎬ뛸헢킩탂쫂컯뫍탂짨볆ퟮ훕뒴퓬돶탂뗄볛횵ꆣ쇵뎣폂(2002)죏캪뒴탂쫇붫탂뗄릹쿫뾪랢돶살늢뒴퓬탂볛횵뗄맽돌ꎬ뛸헢킩릹쿫냼삨탂닺욷ꆢ탂럾컱뫍탂릤틕뗈뒴퓬탔쫂컯ꆣ틲듋ꎬ뒴탂탔퓚뒴튵믮뚯훐랢믓ퟅ훘튪ퟷ폃ꎬ튲쫇폃살쏨쫶뒴튵떼쿲뗄튻룶훘튪릹돉튪쯘ꆣ 웳튵뗄뒴탂탐캪뻟폐뛠훖랽쪽ꎬ뫜쓑쟸럖뒴탂탔뗄탐쪽ꆣ뛔웳튵뒴탂뗄짮죫퇐뺿뷒쪾웳튵쓚늿ퟮ폐볛횵뗄뒴탂쳥쿖퓚닺욷벼쫵뒴탂뫍닺욷쫐뎡뒴탂ꆣ벼쫵뒴탂짦벰뗄쓚죝폐짺닺짨볆뗄룄뷸ꎬ닺욷뫍릤틕퇐랢틔벰뛔닺욷벼쫵뒴탂펰쿬틲쯘벰맽돌뗄맘힢ꎬ잿뗷벼쫵볒폫튵횪쪶ꎻ닺욷쫐뎡뒴탂맘탄웳튵죧뫎뛔닺욷뷸탐짨볆폫냼ힰꎬ죧뫎뾪햹쫐뎡닟뮮ꆢ뗷퇐ꆢ맣룦춶럅틔벰췆맣뗈믮뚯ꆣ퇐뺿랢쿖ꎬ뺡맜솽튪쯘뗄럖샠램틑뢲룇쿠뛔맣랺뗄웳튵뒴탂믮뚯ꎬ떫솽헟횮볤듦퓚ퟅ뫜듳뗄훘뗾ꎬ뛸폐킩뒴탂믮뚯좴컞램맩샠ꎬ뛠쫽쪱뫲쫇벼쫵뒴탂폫닺욷쫐뎡뒴탂늢폃ꆣ떫컞싛웳튵닉좡뫎훖뒴탂탔떼쿲ꎬ뚼쳥쿖웳튵캪쇋ힷ훰믺믡뫍췪돉햽싔쒿뇪뛸뷸탐뗄튻훖뒴탂탐캪뗄쟣쿲ꎬ쫇뒴튵떼쿲뗄튻룶훘튪릹돉튪쯘ꆣ캪쇋룼뫃뗘쟸럖뒴탂탔뗄탎쪽ꎬLumpkin & Dess(1996)죏캪뿉틔붫뒴탂탔ퟷ튻룶솬탸쳥ꎬ퓚튻뛋웳튵짨쿫붨짨튻룶탂뗄닺욷쿟믲뻙탐튻듎듙쿺믮뚯ꎬ쇭튻뛋퓲횴탐ퟅힷ쯦뫍헆컕ퟮ탂닺욷믲탂럾컱뗄탐뚯ꆣ Ceovin & slevin(1989)횸돶뿉틔춨맽닢쫔튻뛎쪱웚쓚웳튵틽죫탂닺욷믲럾컱뗄듎쫽틔벰웳튵쓚탂닺욷(럾컱)쿟뗄뇤룯욵싊살뛈솿뒴탂탔뗄룟뗍ꎬ헢훖랽램뗃떽맣캪펦폃ꆣ ퟛ뫏틔짏톧헟맛뗣ꎬ놾컄죏캪뒴탂탔쫇횸횧돖늢훂솦폚탂쫂컯뫍뒴퓬탔맽돌뗄튻훖틢풸ꎬ뛸ퟮ훕뾪랢돶쇋쓜싺ퟣ늻춬쫐뎡탨쟳뗄뒴탂탔탐캪ꆣ뒴탂쫇웳튵뺺헹폅쫆뗄살풴ꎬ쫇뒴튵떼쿲햽싔뗄튻룶훘튪릹돉튪쯘ꆣ 8
뗚뛾헂 퇐뺿쿠맘샭싛ퟛ쫶 2ꆢ쿈탐탔 쿈탐탔랴펳뗄쫇웳튵퓚뺺헹뛔쫖횮잰뻍쿈풤닢캴살탨쟳ꎬ톰쟳믺믡뗄튻훖잰햰탔탐뚯ꆣ듓Schumpeter뾪쪼뗄톧헟쏇뻍맘힢쫗뒴뺫짱퓚뒴튵쇬폲훐뗄훘튪ퟷ폃ꆣPenrose(1959)죏캪뒴튵탍맜샭헟탨튪폐풶볻뗄뚴달솦ꎬ쓜릻뛔쫐뎡짏짌믺뷸탐ힼ좷뗄냑컕ꎬ룹룹뮷뺳뗄뇤뮯쫊쪱뗘뗷헻햽싔ꎬ틲듋쯻쏇뛔웳튵뗄돉뎤랢햹폐ퟅ훘튪ퟷ폃ꆣLieberman뫍Mofltegomery(1988)잿뗷쿈탐탔쫇냑컕쫐뎡믺믡뗄튻룶훘튪닟싔ꆣ평폚쫐뎡뗄럇뛔돆틲쯘ꎬ쿈탐헟췹췹뿉틔믱뗃룟샻죳뫍욷없죏횪ꎬ벴쓜뎤뻃놣돖웤웳튵탎쿳튲놣폐쿈탐헟쯹믱뗃뗄쫐뎡럝뛮ꆣ틲듋ꎬ춨맽닉좡쿈탐탔닟싔ꎬ쟀쿈뷸죫잱퓚쫐뎡돉캪탐튵쿈쟽틔햼쇬쫐뎡뫍믱좡룟뛮믘놨쫇뒴튵뺫짱뗄튻룶훘튪쳥쿖랽쪽ꆣ 쿈탐탔쫇퓚ힼ좷풤웚캴살췢늿뺺헹뮷뺳뫍탨쟳뇤뮯뗄믹뒡짏ꎬ닉좡쫊떱뗄ꆢ뢻폐잰햰탔뗄튻훖탐캪쟣쿲ꎬ쯼뛔뒴튵돉릦뻟폐훘튪펰쿬ꆣ쿈탐탔냼몬쇋햽싔탔뫍탐뚯톸쯙솽듳쳘헷ꆣ퓚ힷ쟳믺믡뗄맽돌훐ꎬ뻟폐쿈탐탔쳘헷뗄웳튵룒폚쎰쿕ꎬ늢쟒럇뎣듳떨뫍벤뷸(뫍Slevinꎬ1991)ꆣ퓚짦벰떽튻킩맘볼튵컱쇬폲짏ꎬ웳튵춨맽닉좡쿈탐탔닟싔돉캪탐캪쿈쟽뛸늻쫇좥룺쯦뺺헹헟ꆣ헢튻뗣뿉틔춨맽맛달릫쮾폫뛔쫖뾪햹뺺헹뗄믽벫탔살뫢솿ꆣ쿈탐탔냼몬쇋쫗뒴뺫짱ꆢ믽벫뺺헹뫍닟싔벤뷸죽룶튪쯘ꎬ헢킩퓚뒴튵탍맜샭헟탐뚯닟싔짏뿉틔뇭쿖돶살ꆣ Milier(1983)뗄퇐뺿훐춨맽뾼달웳튵쫇늻쫇퓚쫐뎡훐뗚튻룶틽뷸탂닺욷뫍럾컱살뫢솿웳튵쫇럱뻟폐쿈탐탔닟싔쟣쿲ꆣvenkatraman(1989)죏캪쿈탐탔쫇춨맽ힷ훰탂믺믡ꎬ퓚뺺헹뛔쫖횮잰틽죫탂닺욷믲럾컱틔벰쳔청실뫳닺쓜살펦뛔캴살뗄뇤뮯ꆣ횵뗃힢틢뗄튻뗣쫇ꎬ쿈탐탔폫뒴탂탔뚼잿뗷쫗뒴탐뚯ꎬ퓚쒳킩웳튵탐캪훐ꎬ뿉틔믡듦퓚ퟅ훘뫏훐ꆣ퓚Morris & Paul(198)뗄퇐뺿훐뛔룃컊쳢뷸탐쇋싛쫶ꎬ춨맽떽뒴탂탔ꆢ쿈탐탔뫍럧쿕돐떣뗄12룶컊쿮뷸탐첽쯷탔틲ퟓ럖컶랢쿖ꎬ쳡좡솽룶틲ퟓꎬ튻룶냼몬뒴탂탔뫍쿈탐탔ꎬ쇭튻룶퓲쫇럧쿕돐떣ꎬ헢쮵쏷쇋좷쪵듦퓚ퟅ훘뫏맘쾵ꆣ떫쫇튲펦룃쟥돾ꎬ뻶닟탐캪쟣쿲쫇뾪췘탔뗄뮹쫇쒣럂뗄틔쟸럖쿈탐탔뫍뒴탂탔ꆣ틲듋쿈탐탔뫍뒴탂탔쫇뒴튵떼쿲뗄솽룶늻춬뗄캬뛈ꆣ 3ꆢ럧쿕돐떣 럧쿕돐떣랴펳뗄쫇뒴튵탍맜샭헟캪쇋ힷ훰믺믡룊풸쎰쿕뗄튻훖탐캪쟣쿲ꆣDess & Lumpkin(2005)죏캪럧쿕돐떣쫇횸웳튵힡랢햹믺믡뛸늻맋뷡맻뷸탐듳떨뫍쎰9
뗚뛾헂 퇐뺿쿠맘샭싛ퟛ쫶 쿕탐뚯뗄틢풸ꆣ퓧웚뗄뒴튵컄쿗맘힢뗄쫇룶쳥캪쪲쎴톡퓱쇋ퟔ컒맍펶ꎬ뛸늻쫇좥캪뇰죋듲릤ꎬ쫂쪵횤쏷ꎬ헢훖릤ퟷ랽쪽뗄톡퓱ꎬ훷튪붫늻좷뚨탔뫍럧쿕뚼틆떽룶쳥ꎬ평룶쳥살돐떣ꆣ틲듋ꎬ쟸럖뒴튵헟뫍럇뒴튵헟퓚폚뾼달쯻쏇뛔늻좷뚨탔뫍럧쿕뗄돐떣틢쪶ꆣ럧쿕돐떣퓚뒴튵퇐뺿놻뺭뎣쳡벰뗄룅쓮ꎬ튻룶뻟폐뒴튵떼쿲쳘헷뗄웳튵뻍쳥쿖ퟅ뫜잿뗄럧쿕돐떣틢쪶ꆣ 뒴튵쏦뛔뗄늻좷뚨탔뗄췢늿뮷뺳ꎬ쯹짦벰뗄럧쿕쫇뛠훖뛠퇹뗄ꎬ뻸뛔뗄컞럧쿕믮뚯쫇늻뿉쓜뗄ꆣ웳튵퓚햽싔맦뮮쪱믡폶떽쫇럱틽뷸탂릤틕믲탂닺욷ꎬ쫇럱뷸죫탂쫐뎡뗈컊쳢ꆣ웳튵돐떣뗄럧쿕폐뷰듳솿뗄춶죫ꎬ탂럾컱믲닺욷뗄틽죫ꎬ탂쫐뎡뗄뾪췘틔벰룟뢺햮뗈랽쏦ꆣ돐떣럧쿕튲틢캶ퟅ믺믡ꆣ퓚닆컱럖컶훐붫럧쿕폫놨돪뛔펦웰살ꎬ룟놨돪틢캶ퟅ룟럧쿕ꆣ퓚햽싔훐ꎬ럧쿕뇭쿖쎰쿕뷸죫탂쇬폲ꎬ룟뢺햮뗈쓚죝ꆣDess & Lumpkin(2005)럧쿕뮮럖캪튵컱럧쿕ꎬ닆컱럧쿕뫍룶죋럧쿕죽샠ꆣ튵컱럧쿕횸틲컞램맀볆돉릦뗄뿉쓜탔폐뛠듳뻍쿲캴횪쇬폲뾪햹탐뚯뛸듸살뗄럧쿕ꎬ쯼냼삨뷸죫늻좷뚨탔뗄쫐뎡믲헟듳솿뷰뫍풴춶죫떽캴살벼쫵퇐랢훐ꎻ닆컱럧쿕횸웳튵듦퓚ퟅ룟뷨듻뗈탐캪쯹듸살뗄럧쿕ꎻ룶죋럧쿕횸맜샭헟퓚ퟶ돶쒳쿮햽싔탐뚯쪱ꎬ늻뷶믡펰쿬떽헻룶웳튵뗄퓋펪랢햹ꎬ튲믡펰쿬쯻룶죋뗄횰튵짺퇄ꆣ웳튵뿉틔춨맽뗷닩ꆢ움맀늻좷뚨탔럧쿕틲쯘살붵뗍럧쿕믲헟퓋폃뺭맽웤쯻쇬폲틑뺭퇩횤쟐쪵뿉탐뗄벼쫵뫍쪵볹살쪹럧쿕복훁ퟮ짙틔쳡룟웳튵뗄뺺헹뗘캻ꆣ헢퇹럧쿕돐떣퓚웳튵쪵볹믮뚯훐랢믓ퟅ훘튪ퟷ폃ꎬ럧쿕돐떣튲돉캪뒴튵떼쿲뗄튻룶훘튪캬뛈ꆣ 뗚뛾뷚 맘폚뒴튵벨킧뗄퇐뺿 튻ꆢ뒴튵벨킧쓚몭 뒴튵벨킧쫇뒴튵샭싛퇐뺿뗄죈뗣ꆣ쯼쫇뛔ퟩ횯쒿뇪뗄튻훖뫢솿ꎬ춨맽벨킧살뫢솿탂뒴웳튵뗄퓋펪쮮욽뫍뒴튵믮뚯뗄돉킧ꆣ떱잰톧헟뛔뒴튵쓚몭듓늻춬쫓뷇햹뾪퇐뺿ꎬ탎돉쇋죽훖늻춬뗄샭뷢ꆣ벴ꆰ벨킧쫇뷡맻ꆱꎬꆰ벨킧쫇탐캪ꆱ틔벰ꆰ벨킧쫇쓜솦ꆱꎨ붯풾뷸ꎬ2004ꎩꆣꋙ벨킧쫇뷡맻ꆣ룃맛뗣죏캪벨킧뻍쫇ퟩ횯릤ퟷ뗄닺돶돉맻ꆣ헢훖믹폚뷡맻뗄맛뗣룼틗폚폃뿍맛뇪ힼ살뫢솿ꆣ듳뛠쫽톧헟뛔룃맛뗣뇭쪾죏춬ꆣBernadinꎨ1995ꎩ횸돶벨킧쫇릤ퟷ뗄뷡맻ꎬ틲캪헢킩릤ퟷ뷡맻폫웳튵뗄햽싔쒿뇪ퟮ캪쏜쟐ꆣꋚ벨킧쫇탐캪ꆣCampbellꎨ1990ꎩ죏캪웳튵뷡맻평폚틗쫜웤쯼늻좷뚨탔틲쯘펰쿬ꎬ듓뛸펦룃쟸럖뾪ꆣ벨킧쫇탐캪뛸늻쫇뷡맻ꆣꋛ벨킧쫇쓜솦ꆣ쓜솦쫇쪵쿖ퟩ10
뗚뛾헂 퇐뺿쿠맘샭싛ퟛ쫶 횯볛횵뗄쫖뛎ꎬ쯹틔ꎬ늻춬뗄뷡맻믡춨맽웳튵늻춬뗄쓜솦살쪵쿖ꆣ 퓚ퟩ횯샭싛훐ꎬ폐죽훖랽램폃살뚨틥ퟩ횯벨킧ꆣ뗚튻훖쫇쒿뇪움볛램ꆣ폃웳튵ퟔ짭쯹짨훃튪ힷ쟳뗄쒿뇪ퟷ캪뫢솿벨킧뗄뇪ힼꎬ벴폃웳튵쒿뇪듯돉뗄ힴ뿶살뚨틥벨킧ꎻ뗚뛾훖쫇쾵춳풴램ꆣ잿뗷뾼싇웳튵듓췢늿뮷뺳훐헻뫏뫋탄풴뗄쓜솦살움볛벨킧ꎻퟮ뫳튻훖쫇뛠훘볓좨램ꎺ폃ퟩ횯돉풱폫ퟩ횯믲돉풱볤뮥뚯탐캪뚨틥벨킧ꆣ ퟛ뫏틔짏싛쫶ꎬ놾컄죏캪ퟷ캪탂뒴웳튵ꎬ뒴튵벨킧펦룃쳥쿖돶웳튵돵뒴뫍돉뎤맽돌훐뒴튵헟뗄뒴튵믮뚯쯹닺짺룷훖뷡맻ꆣ뛸헢훖뷡맻퓚돵뒴쪱웚랴펳퓚짺듦탔짏ꎬ뻟쳥뇭쿖탂뒴웳튵뗄돉뎤탔벰믱샻탔ꆣ 뛾ꆢ뒴튵벨킧횸뇪럖샠 1ꆢ닆컱횸뇪폫럇닆컱횸뇪 톧헟쏇튻횱뚼폃닆컱횸뇪살뫢솿웳튵벨킧ꎬ틲캪닆컱횸뇪뻟폐뿍맛탔ꆣ뛸뛔뒴튵벨킧뗄움볛튲펦룃듓닆컱뗄뷇뛈살뷸탐ꆣ뛔웳튵쓄샠닆컱횸뇪닅쓜헦헽뗘랴펳ퟩ횯킧뗄퇐뺿뺭샺쇋튻룶싾뎤뗄맽돌ꎬ19쫀볍돵훁20쫀볍돵ꎬ웳튵볒뾴훘뗄쫇돉놾ꎬ떱쪱뻍닉폃돉놾벨킧움볛랽램ꆣ쯦ퟅ좫쟲뮯뺭볃뗄랢햹ꎬ룷훖샠탍뗄웳튵쿠볌돶쿖ꎬ돉놾벨킧움볛램쿔좻늻쓜퓙쫊폃ꎬ헢퇹웤쯼룷훖횸뇪뻍놻펦폃웰살ꆣ쿠떱뛠뗄닆컱횸뇪놻펦폃떽벨킧움볛쳥쾵훐ꎬ쿈뫳뺭샺쇋믹폚믡볆뗄닆컱횸뇪쳥쾵ꎬ틔벰떽쿖퓚룼쇷탐뗄믹폚쫐뎡뗄닆컱횸뇪쳥쾵ꆣ뻟쳥뛸퇔ꎬ냼삨뗄닆컱횸뇪폐ꎺ쇷뚯뇈싊ꆢ뺻쫕죫ꆢ춶믘놨싊ꆢ쿺쫛믘놨싊ꆢ욽뻹쓪쿺쫛솿ꆢ욽뻹쓪닺믘놨싊뗈ꆣ탭뛠퇐뺿헟뚼닉폃쿺쫛퓶뎤헢룶횸뇪ꆣ탂뒴웳튵뗄닆컱쒿뇪펦룃잿뗷탂쫐뎡ꆢ탂뿍뮧ꆢ탂닺욷뫍탂럾컱훐믱뗃쿺쫛뛮뗄퓶볓짏ꎨ뾨웕삼뫍억뛙ꎬ2004ꎩꆣ믱샻싊횸뇪퓚쿠맘퇐뺿튲냧퇝ퟅ럇뎣훘튪뗄뷇즫ꆣ믱샻싊냼삨ꎺ쿺쫛샻죳싊ꎬ막욱쫕틦싊ꎬ닺쫕틦싊ꎬ춶믘놨싊뗈ꆣꎨ캺쎷랼ꎬ횣톩뚫뗈ꎬ2004ꎩ쳡돶쇋쿖뷰쇷ꆢ쇷뚯뇈싊ꆢ쯙뚳뇈싊뗈ퟷ캪뒴튵벨킧뗄횸뇪ꆣ쯦ퟅ퇐뺿뗄짮죫ꎬ톧헟쏇랢쿖닆컱횸뇪늢늻쓜좫쏦뗘랴펳웳튵뺭펪쮮욽ꎬ뮹탨뾼싇튻킩럇닆컱횸뇪ꆣ냼삨맋뿍싺틢뛈ꆢ쫐뎡햼폐싊뗈쓚죝ꆣ퓚뛔ퟩ횯벨킧뗄뫢솿쪱ꎬ탨튪듓닆컱횸뇪뫍럇닆컱횸뇪솽랽쏦ퟛ뫏살뾼싇ꆣ늻쓜횻떥뒿뗘뾼싇닆컱벨킧ꎬ횻맋떱잰킧틦ꎬ뫶쫓뛔벼쫵틔벰짨놸뗄춶ꎬ쯰몦ퟩ횯뗄뎤웚뿉돖탸랢햹ꆣ횻폐솽헟쿠뷡뫏쳖싛쪱ꎬ닅쓜뷸탐좫쏦뗄ꆢ릫헽뫍뿍맛뗄움볛ꎬ닅쓜헦헽냑컕웳튵뺭펪ힴ뿶ꆣ 2ꆢ뻸뛔횸뇪폫쿠뛔횸뇪 11
뗚뛾헂 퇐뺿쿠맘샭싛ퟛ쫶 춨맽뾼달웳튵볤쫇럱뷸탐뇈뷏살쟸럖뻸뛔횸뇪뫍쿠뛔횸뇪뗄룅쓮ꆣ떱룃횸뇪럖샠쳡돶뫳ꎬ퓢떽풽살풽뛠뗄톧헟랴뛔ꎬퟮ훷튪뗄쫇랴뛔닉폃쿠뛔벨킧횸뇪ꆣ퓚헢킩톧헟뾴살ꎬ뒴튵죚뫏ퟅ뒴튵헟뗄훷맛탔뫍룶탔뮯ꎬ뛸퇐뺿웳튵볤뗄쿠뛔벨킧쎻쓜랴펳뒴튵뗄놾훊ꆣ틲듋쿠뛔벨킧횸뇪늻펦쫇탂뒴웳튵벨킧퇐뺿뗄훘뗣ꆣ뺡맜쿠뛔벨킧횸뇪퓚퇐뺿뒴튵믮뚯쪱쿔뗃뷢쫍솦뛈늻릻ꎬ캴쓜돤럖쳥쿖뒴튵뗄놾훊쳘뗣ꎬ떫웤폅뗣튲쫇쿔좻뗄ꆣ쯼뿉틔볬퇩뒦폚춬튻탐튵ꎬ춬퇹뗄뫪맛뮷뺳쿂ꎬ웳튵볤뗄벨킧닮틬ꆣ헢킩뻍뿉틔뛅뻸췢뷧뗄펰쿬ꎬ횱뷓붫벨킧뗄뫃뮵맩폚웳튵ퟔ짭ꆣ럖컶퓚춬퇹뮷뺳쿂ꎬ뒴튵믺믡놻뛠죋랢쿖ꎬ떫횻폐짙쫽죋쓜릻붫웤뾪랢ꎬ틲듋닢솿뒴튵벨킧맘힢쿠뛔벨킧횸뇪뮹쫇뻟폐튻뚨뗄틢틥뗄ꆣ뛸닉폃뻸뛔횸뇪살뫢솿벨킧쪱ꎬ튪힢틢뾼싇뗄뿘훆뇤솿ꆣ움볛튻룶횸뇪럖샠램쫇럱폐킧ꎬ훷튪뾴웤뒴튵벨킧쯹랴펳뗄쫇럱쫇뒴튵뗄놾훊ꎬ냼삨믺믡뗄쪶뇰폫뾪랢ꎬ볛횵뒴퓬뗈ꆣ 3ꆢ웤쯼샠뇰횸뇪 돽쇋틔짏횸뇪샠뇰췢ꎬ톧헟쏇튲맘힢뫍퇐뺿쇋훷맛횸뇪폫뿍맛횸뇪ꎬ떥튻횸뇪폫뛠캬횸뇪ꆣ틔쿂ퟷ볲튪싛쫶ꎺ1ꎩ훷맛횸뇪폫뿍맛횸뇪ꆣ훷맛횸뇪횸뗄쫇닉폃솿뇭ꎬ틔늻춬닣듎뗄룐뻵죧움볛웳튵벨킧ꆣ죧쪹폃ꆰ럇뎣뫃ꆱꆢꆰ튻냣ꆱꆢꆰ늻좷뚨ꆱꆢꆰ춦닮ꆱꆢꆰ럇뎣닮ꆱ뗈ꆣ뿍맛횸뇪횸뗄쫇폫웳튵뺭펪튵벨쿠맘뗄훮죧쿺쫛퓶뎤싊ꆢ쫐뎡럝뛮뗈뿍맛닆컱쫽뻝ꆣ헢튻횸뇪럖샠램뻟폐뫜듳뗄뻖쿞탔ꆣ헢쫇틲캪쯹튪쯑벯뗄쫽뻝뚼쫇웳튵뗄믺쏜ꎬ뫜쓑뻍듓뗷닩헟훐믱뗃ꆣ닉폃훷맛횸뇪뫍뿍맛횸뇪살뫢솿벨킧쪱ꎬ돽쇋쫜떽뿍맛쫽뻝쓑틔믱뗃췢ꎬ튲폐톧헟뛔훷맛횸뇪킧뛈뫍탅뛈컊쳢횸돶훊틉ꆣ2ꎩ떥튻횸뇪폫뛠캬횸뇪ꆣ퓧웚뗄ퟩ횯벨킧뫢솿뚼닉폃떥튻횸뇪ꎬ틢벴틔튻룶떥캻뛔웳튵뺭펪튵벨뷸탐움볛ꎬ죧풱릤싺틢뛈ꆢ샻죳ꆢ짺닺솦뗈ꆣ떥튻뇤솿뗄벨킧닢솿램뫃뒦퓚폚틗폚뗷닩뫍럖컶ꆣ뛔웳튵뛸퇔ꎬퟩ횯쒿뇪뻍쫇샻죳ퟮ듳뮯ꎬ떥튻뗄뺭볃뇤솿췹췹쫜떽맜샭헟뗄맘힢ꆣ뛸쟒퇐뺿튲쿔쪾ꎬ떥튻캬뛈뗄ꆰ벨킧ꆱ릹쮼늻뻟놸뇦뇰킧뛈뫍뻛뫏킧뛈ꆣ듓뛸쪹폃뛠캬횸뇪뗄훘튪탔쫜떽풽살풽뛠뗄톧헟뗄뿏뚨ꆣ벨킧닢솿튲뎯ퟅ뛠캬횸뇪닢뛈랢햹ꆣ ퟛ짏쯹쫶ꎬ쒿잰뛔탂뒴웳튵벨킧뗄뫢솿훷튪닠훘폚떥튻틲쯘짏ꎬ죧뒴튵떼쿲뛔뒴튵벨킧뗄펰쿬ꎬퟩ횯톧쾰뛔ퟩ횯뗄펰쿬ꎬ좱랦뛠틲쯘쿠뷡뫏쾵춳뗄퇐뺿ꆣ춬쪱ꎬ톧헟쏇듓룷ퟔ퇐뺿쒿뗄돶랢ꎬ퓚늻춬쟩뺳쿂뾪랢뛈솿벨킧뗄솿뇭ꆣ헢떼훂뫜쓑탎돉춳튻뗄뛈솿쳥쾵ꆣ 12
뗚뛾헂 퇐뺿쿠맘샭싛ퟛ쫶 뗚죽뷚 맘폚풴헻뫏쓜솦뗄퇐뺿 튻ꆢ뒴튵풴 뒴튵믮뚯탨튪풴뗄횧독ꆣ퓚뺭볃톧럖컶훐ꎬ죏캪풴쫇웳튵캪쇋뒴퓬탂볛횵뫍ힷ훰탂닆뢻뛸춶죫짺닺뺭펪맽돌훐쯹폐뗄짺닺튪쯘뫍횧독쳵볾ꆣ풴믹뒡샭싛ퟷ캪뒫춳햽싔맜샭뗄뫋탄샭샭ꎬ횸돶웳튵튪쿫믱뗃돖뻃뺺헹폅쫆ꎬ뻍뇘탫헆컕쓇킩쾡좱뗄ꎬ늻뿉쳦듺뗄풴ꆣ뒴튵풴쫇탂뒴웳튵돉뎤뫍랢햹맽돌훐늻뛏춶죫퓋ퟷ뗄쯹폐닺ꆣ뒴튵풴쫇탂뒴웳튵늻뿉믲좱뗄믹뒡ꎬ맡뒩ퟅ헻룶짺닺뺭펪쪼쒩ꆣ뒴튵틁쪼ꎬ뒴튵헟탨튪에뛏쫇럱뻟폐ퟣ릻쯹탨뗄풴살뾪랢뒴튵믺믡ꎬ춬쪱평폚탂웳튵뗄룟돉뎤탔탨튪룼뛠뗄풴살놣헏ꎬ뛸뫳ꎬ뒴튵볒뮹탨뛔뒴튵풴뷸탐돤럖뗄헻뫏틔놣헏ퟩ횯햽싔뗄횴탐ꆣ웳튵듓뒴솢떽돉뎤랢햹훐ꎬ튻횱냩쯦ퟅ쪶뇰뫍믱좡쯹탨뒴튵풴ꆪ샻폃틑헻뫏뫃뗄풴쟋뚯탂풴ꆪ탂뗄뒴튵풴헻뫏헢퇹튻룶맽돌ꆣ뒴튵풴뛔뒴튵믮뚯뗄늻뷶퓚솿뗄믽샛짏놣횤짺닺뺭펪ꎬ뮹퓚폚뒴튵풴뗄헻뫏쓜죃웳튵믱뗃뺺헹폅쫆ꆣ 뒴튵탨튪룷훖풴ퟩ뫏틔랢믓킧폃ꎬ헢뻍짦벰떽뛔풴뗄럖샠퇐뺿뫍풴헻뫏퇐뺿ꆣWernerfelt(1984)죏캪웳튵풴뿉틔뮮럖캪컯솦풴ꆢ죋솦풴뫍ퟩ횯풴죽듳샠ꆣGrant(1991)죏캪풴럖캪벼쫵풴ꆢ컯솦풴ꆢ닆컱풴ꆢ죋솦풴ꆢ탅폾틔벰ퟩ횯풴ꆣBarney(1991)뛔웳튵풴뗄뮮럖램폫Wernerfelt폐뗣샠쯆ꎬ튲쫇볲떥뗘럖캪죽훖ꎺ컯솦놾풴ꆢ죋솦놾풴뫍ퟩ횯놾풴ꆣ컯솦놾풴냼삨웳튵뗄뎧랿톡횷뫍벼쫵뗈ꆣ죋솦놾풴훷튪짦벰뗄쫇죋쫂ꎬ맜샭헟폫횰풱뗄엠통뗈ꆣퟩ횯놾냼삨웳튵뛔ퟩ횯쓚췢맘쾵뗄뿘훆폫킭뗷뗈랽쏦ꆣ퓚뛔풴볤췸싧맘쾵퇐뺿훐ꎬBlack & Boal(1994)퓲붫풴럖캪쓚뻛풴뫍쾵춳풴솽듳샠ꆣMiller & Shamsieꎨ1996ꎩ퓚뾼달풴뗄늻뿉쒣럂쪱죏캪쓇킩춨맽붨솢뇚생쪹뺺헹뛔쫖쓑틔쒣럂웤맜샭쇷돌믲짺닺벼쓜뗄풴돆캪횪쪶풴ꎻ뛸쓇킩횻쓜춨맽닺좨헢튻탎쪽뷸탐놣뮤뗄풴맩캪좨틦풴ꆣAmit & Schoemaker(1993)듓풴뗄샫즢탔쾵춳ힴ첬뷸탐뮮럖ꎬ죏캪풴냼몬ꆰ볲떥탔풴ꆱ뫍ꆰ뢴퓓탔풴ꆱꆣ볲떥탔풴횸뗄쫇쓇킩틔닺좨캪믹뒡뗄ꆢ폐탎뗄떫뒦폚샫즢ힴ첬뗄풴ꎻ뛸뢴퓓탔풴쫇횸틔횪쪶캪믹뒡뗄ꆢ컞탎뗄ꆢ쾵춳탔뗄풴ꆣ 훐맺훐킡뒴튵웳튵폫맺췢웳튵뗄쳘뗣듦퓚ퟅ닮틬ꎬ믹폚컒맺쳘쫢컄뮯놳뺰쿂ꎬ훐킡웳튵뗄랢햹뮷뺳ꆣ놾컄붫뒴튵풴럖캪쯄룶랽쏦ꎺꎨ튻ꎩ짧믡풴ꆣ뛔탂뒴웳13
뗚뛾헂 퇐뺿쿠맘샭싛ퟛ쫶 튵뛸퇔ꎬ짧믡췸싧럇뎣훘튪ꆣ헢냼삨쏦뛔뗄헾닟뮷뺳ꆢ뺭볃뮷뺳뫍짧믡ퟔ좻뮷뺳ꆣ횻폐헾닟퓊탭뗄쟩뿶쿂닅쓜뾪햹뒴튵믮뚯ꎬ횻폐폫짧믡짏룷ퟩ횯뗃뒦샭뫃맘쾵ꎬ닅쓜믱뗃뎤ퟣ랢햹ꆣꎨ뛾ꎩ탅쾢풴ꆣ떱뷱짧믡뺺헹룼캪벤쇒ꎬ웳튵튪쿫쪤돶ꎬ뻍뇘탫믱뗃벰쪱ꆢힼ좷뗄쫐뎡탅쾢틔ퟶ돶헽좷뗄뻶닟ꆣ탅쾢쫇늻뛔돆뗄ꎬ폈웤뛔폚탂뷸죫뗄웳튵ꆣ탅쾢풴뗄헻뫏냼몬폐맜샭뗄쓚몭ꎬ튲튪헻뫏맜샭뫃웳튵췢늿뗄풴ꎬ벴튪힡웳튵뫃뗄랢햹믺폶ꎬ폖튪헻뫏맜샭뫃웳튵쓚늿뗄탅쾢풴ꎬ뷸탐탅쾢풴뗄맦뮮ꆣ탅쾢풴맦뮮벴쫇횸룹뻝탨쟳럖컶붨솢벯돉뮯탅쾢쾵춳뗄릦쓜쒣탍ꆢ쫽뻝쒣탍뫍쾵춳쳥쾵뷡릹쒣탍ꎬ탎돉튻룶쾵춳뮯뗄웳튵탅쾢뮯뷢뻶랽낸ꎬ틔쪹웳튵룟훊솿ꆢ룟킧싊뗘쪵쿖뿧풽쪽랢햹ꆣꎨ죽ꎩ뷰풴ꆣ뷰풴뛔폚웳튵뗄훘튪탔늻퇔뛸폷ꎬ퓚웳튵뺭펪맽돌훐ꎬ컞싛쫇틽뷸탂닺욷믲탂럾컱ꆢ틖믲쫇뷸탐닺욷퇐랢뚼탨튪듳솿뗄뷰살횧돖ꆣ쫜탂뒴웳튵룟돉뎤탔뗄튪쟳ꎬ뒴튵헟탨튪헻뫏웳튵쓚췢늿놾틔놣헏웳튵뗄랢햹ꆣꎨ쯄ꎩ죋닅풴ꆣ웳튵뿉돖탸랢햹뗄맘볼퓚폚룟쯘훊죋닅뗄믱좡뫍뾪랢,헢튻뗣룟뿆벼뒴튵웳튵뇭쿖폈캪춻돶ꆣ훐킡웳튵쏦쇙ퟅ죋닅풴뛌좱뗄컊쳢ꆣ웳튵믲쫂튵캨튻헦헽뗄풴쫇죋ꎬ죧뫎얬솦뒴퓬컼틽죋닅뗄쳵볾ꎬ캪웳튵컼틽뫍쇴힡죋닅ꎬ샻폃ꆰ췢쓔ꆱꎬ헻뫏죋닅풴틔믱뗃뎤웚돖탸랢햹뗄쓚퓚뚯솦ꎬ틑돉캪훐킡웳튵떱잰뗄튻쿮쪮럖웈쟐뗄죎컱ꆣ 뛾ꆢ풴헻뫏쓜솦 뒴튵풴퓚캴헻뫏횮잰듳뛠쫇쇣즢뗄ꎬ튪랢믓웤ퟮ듳뗄킧폃ꎬ뮯캪뺺헹폅쫆ꎬ캪웳튵뒴퓬볛횵ꎬ뮹탨튪탂뒴웳튵퓋폃뿆톧랽램붫늻춬살풴ꆢ늻춬킧폃뗄풴뷸탐엤훃폫폅뮯ꎬ쪹폐볛횵뗄풴죚뫏웰살ꎬ랢믓ꆰ1+1>2ꆱ뗄럅듳킧펦ꆣ퓚뛔풴헻뫏쓜솦뗄뚨틥짏ꎬ늻춬톧헟믹폚늻춬뗄퇐뺿쒿뗄ꎬ틔벰늻춬뗄돶랢뗣ꎬ룸돶쇋늻춬뗄퇐뺿뷡싛ꆣ십뫨병ꎨ2008ꎩ죏캪탂뒴웳튵풴헻뫏쓜솦쫇횸퓚뒴튵맽돌훐ꎬ틔죋캪퓘쳥ꎬ퓚풴헻뫏맽돌훐쯹뇭쿖돶뗄뛔풴뗄쪶뇰ꆢ믱좡ꆢ엤훃뫍샻폃훷쳥쓜솦ꆣ늢듓뒴튵헟뫍뒴튵췅뛓솽룶랽쏦볓틔쳖싛ꆣ 쿖폐뗄퇐뺿ꎬ컞싛쫇듓뒴튵훷쳥ꆢ뮹쫇풴헻뫏맽돌뗈쫓뷇살퇐뺿풴헻뫏쓜솦ꎬ뺡맜웤룅쓮쏨쫶늻튻퇹ꎬ떫쓚몭쫇튻훂뗄ꆣ놾컄쯹첽쳖뗄풴헻뫏쓜솦쫇횸탂웳튵퓚뒴붨폫돉뎤랢햹맽돌훐뛔ퟩ횯쓚췢뿉믱뗃뗄튻쟐풴뷸탐톡퓱ꆢ컼쫕ꆢ엤훃폫샻폃뗄쓜솦ꆣ쯼냼삨뫪맛닣듎뗄햽싔풤볻쓜솦뫍뛔ퟩ횯뗄횧독폫킭뗷쓜솦ꎬ튲냼삨캢맛닣듎뗄뛔뒴튵풴뗄훃뮻폫엤훃ꆢ벤믮폫죚뫏쓜솦ꆣ풴헻뫏쓜솦펰쿬ퟅ웳14
뗚뛾헂 퇐뺿쿠맘샭싛ퟛ쫶 튵뗄풴햽싔ꎬ뻶뚨뒴튵풴쓜럱뗃틔랢믓웤킧폃ꎬퟮ훕펰쿬ퟅ탂뒴웳튵뗄뺺헹폅쫆ꆣ뫪맛닣듎짏ꎬ햽싔풤볻쓜솦쫇횸뒴튵헟뛔뒴튵뮷뺳뗄늻좷뚨탔벰쟷쫆틔벰뒴튵ퟩ횯훐쯹듦퓚뗄맜샭컊쳢ꆢퟩ횯폅쇓쫆뷸탐풤닢쯹탎돉뗄뚴달솦뫍풤볻솦ꎬ뷸뛸폐헫뛔탔뗘엤훃뒴튵풴틔펦뛔룷훖뇤뮯뗄쓜솦ꆣ뷏잿뗄햽싔풤볻쓜솦뿉ힼ좷뗘냑컕ퟩ횯쓚췢뗄뇤뮯쟩뿶ꎬ폐헫뛔뗘엤훃쪲쎴풴ꎬ엤훃뛠짙풴ꎬ듓뛸돤럖랢믓뒴튵풴뗄킧폃ꎬ뮯뷢쯹쏦뛔뗄룷훖컊쳢ꆣ횧독폫킭뗷쓜솦쫇횸뛔탂웳튵뗄햽싔틔벰ퟩ횯횴탐솦뗄횧독쓜솦ꎬ뛔탂웳튵풴뷡릹폫뒴튵햽싔쯹탎돉뗄킭뗷쓜솦ꆣ캢맛닣듎짏ꎬ훃뮻폫엤훃쓜솦쫇횸탂웳튵퓚돉뎤랢햹맽돌훐쯹탎돉뗄뛔뒴튵풴뷸탐쪶뇰ꆢ믱좡폫엤훃뗄쓜솦ꆣ훷튪뇭쿖퓚뛔뒴튵풴뗄릹붨랽쏦ꎬ냼삨풴쫽솿ꆢ뷡릹폫훊솿뗈랽쏦ꆣ뛔탂뒴웳튵살쮵ꎬ뛔뒴튵풴뗄쪶뇰폫벳좡쓜솦폈캪훘튪ꆣ벤믮폫죚뫏쓜솦쫇횸뒴튵헟죧뫎돤럖랢믓뒴튵풴뗄킧틦폫킧쓜뗄튻훖쓜솦ꆣ훷튪쳥쿖퓚뛔뒴튵풴뗄샻폃랽쪽짏ꎬ탂웳튵쓜럱돉릦늻퓚폚펵폐쯹뛠뗄풴ꎬ뛸쫇웤뛔풴뗄헻뫏랽쪽쫇럱룟킧ꎬ쫇럱랢믓쇋풴뗄킧싊뫍킧쓜ꆣ뷏잿뗄벤믮폫죚뫏쓜솦뿉틔쪹탂웳튵탎돉폫웤뒴튵풴늻췪좫쿠돆뗄뺺헹폅쫆ꆣ 풴헻뫏쓜솦쓜죃뒴튵헟뛔캴살뇤뮯쟷쫆뗄뷸탐헽좷풤닢뛸폐킧뗘쪶뇰폫믱뗃ꆢ엤훃폫샻폃뒴튵풴살쳡짽웤뺺헹솦ꆣ떱잰뛔풴헻뫏쓜솦뗄펰쿬틲쯘퇐뺿뷏짙ꎬ캪쇋룼뫃뗘퇐뺿풴헻뫏쓜솦뗄쳘헷ꎬ놾컄붫듓틔쿂죽룶늻춬뗄쫓뷇살첽쳖풴헻뫏쓜솦뗄펰쿬틲쯘ꆣ1ꎩ뒴탂뛈ꆣ탂웳튵듓뒴붨떽돉뎤랢햹뻍쫇튻룶늻뛏뒴탂뗄맽돌ꎬ뒴탂뛈쳥쿖퓚탂웳튵뛔뒴튵풴헻뫏뗄랽쪽벰킧싊짏ꆣ2ꎩ뒴튵췸싧ꆣ탂뒴웳튵듳뛠쫜떽풴뗄풼쫸ꎬ듓뛸뇘탫볓잿췢뷧솪쾵ꎬ폫췢늿훷쳥붨솢맘쾵췸싧ꎬ쳡룟뛔풴믱좡뗄뇣샻탔폫돖탸탔ꎬ춬쪱폫웤쯼믺릹붨솢햽싔춬쏋ꎬ퓚늻좷뚨탔뗄뮷뺳훐쟳뗃짺듦폫뫍랢햹ꆣ뒴튵췸싧늻뷶뷶퓚폚냯훺탂웳튵폃뷏뗍뗄돉놾믱뗃쯹탨뗄풴ꎬ뮹쓜쳡룟웳튵뗄뿉탅뛈폫뫏램탔ꆣ3ꎩ돵쪼풴?뢳ꆣ헢냼삨뒴튵헟뗄쫜뷌폽돌뛈ꆢ탐튵횪쪶ꆢ뺭퇩ꆢ췸싧맘쾵뗈ꆣ돵쪼풴?뢳펰쿬ퟅ뒴튵믺믡톡퓱뗄샠탍틔벰뒴튵풴뗄쪶뇰폫벳좡ꆣ퓚뒴튵뗄맽돌훐ꎬ뒴튵헟뗃샻폃ퟔ벺쯹펵폐뗄돵쪼풴살폫췢뷧훷쳥ꎨ뫏ퟷ헟ꆢ릩펦짌ꆢ틸탐뗈ꎩ붨솢맘쾵ꆣ돤럖샻폃돵쪼풴뗄룜룋ퟷ폃ꎬ쳡룟풴뗄샻폃킧싊ꆣ떱잰뛔풴헻뫏쓜솦캬뛈뗄퇐뺿뷏짙ꎬ듳뛠듓풴헻뫏뗄맽돌살뷸탐럖컶ꆣ놾컄쓢닉폃헢훖랽램ꎬ붫풴헻뫏쓜솦뮮럖캪풴릹붨쓜솦뫍풴샻폃쓜솦솽룶캬뛈ꆣ 15
뗚뛾헂 퇐뺿쿠맘샭싛ퟛ쫶 뗚쯄뷚 폐맘풴헻뫏쓜솦ꆢ뒴튵떼쿲폫뒴튵벨킧맘쾵뗄퇐뺿 튻ꆢ뒴튵떼쿲폫뒴튵벨킧뗄맘쾵퇐뺿 뒴튵떼쿲폫웳튵벨킧춬뗄맘쾵뫜퓧뻍쫜떽톧헟쏇뗄훘쫓ꆣ뒴튵떼쿲짦벰떽웳튵퓋펪훐햽싔뻶닟ꆢ뺺헹닟싔틔벰탂닺욷퇐랢닟싔뗈랽쏦ꎬ뛸헢킩뚼믡ퟮ훕펰쿬ퟅ웳튵뗄벨킧ꆣ본폚뒴튵떼쿲뛔폚웳튵벨킧뗄훘튪탔ꎬ퇐뺿헟쏇뛔웤햹뾪쇋짮죫뗄첽쳖뫍퇐뺿ꆣ 퓧웚뗄톧헟쏇뛔뒴튵떼쿲폫벨킧뗄맘쾵퇐뺿뇈뷏볲떥ꎬ듳뚼믹폚쮫틲쯘쒣탍살뷸탐쳖싛ꆣ헢튻쪱웚웕뇩죏캪뒴튵떼쿲뛔웳튵벨킧듦퓚ퟅ헽쿲듙뷸ퟷ폃ꎬ뒴튵떼쿲쫇웳튵믱뗃돖뻃뺺헹폅쫆뗄맘볼틲쯘ꆣ떫튲폐튻킩톧헟춨맽쪵횤퇐뺿횤쪵솽헟횮볤뗄횱뷓맘쾵쫇캢죵뗄ꎬ짵훁늻쿠맘ꆣSapienza뫍Grinun(1997)퇐뺿쿔쪾뒴튵떼쿲폫웳튵벨킧횮볤늻뻟폐쿠맘탔ꎻLee(2001)횸돶뒴튵떼쿲폫탂뒴웳튵뗄벨킧횻듦퓚ퟅ죵쿠맘ꆣ쯦ퟅ퇐뺿뗄볌탸짮죫ꎬ뒴튵떼쿲폫웳튵벨킧뗄솽틲쯘쒣탍늻쓜뷢쫍웳튵뗄튻킩쿖쿳ꎬ춬쪱룃쒣탍튲풽살풽늻쓜싺ퟣ퇐뺿뗄탨튪ꆣ헢쪱ꎬ톧헟쏇뾪쪼퓚풭폐쒣탍뗄믹뒡짏ꎬ틽죫좨뇤틲쯘ꎬ냼삨췢늿뒴튵뮷뺳ꎬퟩ횯컄뮯ꎬ풴믱뗃탔뗈뗷닩뇤솿ꆣ헢킩뗷뷚뇤솿펰쿬뒴튵떼쿲뛔뒴튵벨킧뗄ퟷ폃킧맻ꆣ틲듋ꎬ좨뇤틲쯘뗄틽죫쪹뗃뒴튵떼쿲폫벨킧횮볤맘쾵퇐뺿룼볓짮죫ꆣLumpkin뫍Dess(2001)붫뒴튵뮷뺳뗄뚯첬탔뫍뗐뛔탔솽룶캬뛈ퟷ캪뗷뷚뇤솿ꎬ웤쪵횤퇐뺿쿔쪾ꎺ췢늿뮷뺳뚯첬탔풽잿ꎬ뎬잰탐뚯폫벨킧헽쿠맘ꎻ췢늿뮷뺳뗐뛔탔풽잿쪱ꎬ쿈탐탔뫍믽벫뺺헹뻹폫벨킧헽쿠맘ꆣChowꎨ2001ꎩ퇐뺿쇋죋솦풴뗄뗷뷚ퟷ폃ꎬ횸돶풱릤뗄쫜뷌폽돌뛈폈웤훘튪ꎬ뷏듳뗘뗷뷚ퟅ뒴튵떼쿲뫍벨킧뗄맘쾵ꆣ맺쓚ꎬ킻뫩쏷(2005)뛔컒맺뮪쓏뗘쟸웳튵뷸탐뗷퇐ꎬ춨맽쪵횤퇐뺿랽램ꎬ횤쪵쇋ퟩ횯톧쾰퓚쫐뎡떼쿲폫ퟩ횯벨킧횮볤맘쾵훐뗄훐뷩ퟷ폃ꆣ헅폱샻ꎨ2005ꎩ죏캪웳튵볒쪤죎솦펰쿬뒴튵떼쿲뛔웳튵벨킧뗄듙뷸ퟷ폃ꆣ 쯤좻뒴튵떼쿲폫벨킧맘쾵뗄퇐뺿틑뺭좡뗃쇋럡뢻뗄퇐뺿돉맻ꎬ떫헢킩퇐뺿듳뛠뚼쫇믹폚맺췢웳튵ퟶ돶뗄퇐뺿ꎬ웤퇐뺿뷡맻퓚훐맺쟩뺳쿂뒴튵웳튵쫇럱뮹쫊폃ꎬ헢킩뮹폐듽뷸튻늽퇐뺿ꆣ틲듋ꎬ뫜폐뇘튪뛔컒맺뗄뒴튵웳튵뾪햹퇐뺿ꎬ뻟쳥짦벰뗄퇐뺿랽쿲ꎬ놾컄죏캪틽죫풴헻뫏쓜솦헢튻잰훃뇤솿살첽쳖뒴튵떼쿲뛔뒴튵벨킧뗄맘쾵튻퇐뺿쫓뷇뻟폐럇뎣훘튪뗄틢틥ꆣ 뛾ꆢ풴헻뫏쓜솦폫뒴튵떼쿲ꆢ뒴튵벨킧뗄맘쾵퇐뺿 톧헟쏇맘힢풴헻뫏쓜솦뛔웳튵뻶닟폫벨킧뗄펰쿬ꎬퟮ퓧풴폚뛔풴뗄짮죫퇐16
뗚뛾헂 퇐뺿쿠맘샭싛ퟛ쫶 뺿ꆣ웳튵믹뒡샭싛죏캪쓇킩뻟폐볛횵ꎬ늻뿉뢴훆쳦듺뗄풴닅쫇웳튵믱뗃룟벨킧뗄룹놾ꎬ잿뗷풴뛔웳튵돉뎤랢햹뗄훘튪탔ꆣ좻뛸ꎬ쯦ퟅ퇐뺿뗄볌탸짮죫ꎬ랢쿖풴ퟮ돵뷸죫ퟩ횯쫇뒦폚샫즢ힴ첬뗄ꎬ뷶폐풴쫇늻릻뗄ꎬ뮹탨뛔믱뗃뗄풴뷸탐폐킧엤훃폫폅뮯ꎬ쪹웤쿲쓜솦뮯ꎬퟮ훕쳡짽웳튵벨킧ꆣ 뒴튵떼쿲쫇튻훖쿻뫄풴뗄햽싔탐캪쟣쿲ꆣ웳튵뗄훷맛햽싔첬뛈ꎬ퓚웤틽랢뗄튻쾵쇐웳튵탐캪ꎬ틔쿻뫄풴캪믹뒡살닺짺웳튵벨킧ꆣ풴헻뫏뗄맽돌쫇뒴튵떼쿲뛔벨킧닺짺ퟷ폃뗄훘튪탐캪ꆣ죧맻탂웳튵퓚뒴튵맽돌뗄늻춬쪱웚샯쓜릻릹붨ퟔ벺뗄풴쳥쾵ꎬ폅뮯엤훃쟒폐킧뗘샻폃웰살ꎬ붫믱뗃맣랺뗄햽싔톡퓱ꆣ틲듋ꎬ웳튵춨맽쳡짽풴헻뫏쓜솦ꎬ웤뒴탂ꆢ쿈탐폫럧쿕돐떣쓜솦뻍믡볓잿ꆣ퓚떱뷱뺺헹죕쟷벤쇒ꎬ췢늿늻좷뚨탔퓶잿뗄뮷뺳쿂ꎬ웳튵튪쿫믱뗃돖뻃뗄뺺헹폅쫆ꎬ늻뷶퓚폚웤펵폐뫋탄풴ꎬ룼훷튪뗄쫇뛔풴뗄헻뫏쓜솦ꆣ 퓚퇐뺿풴헻뫏쓜솦뛔뒴튵벨킧뗄펰쿬랽쏦ꎬ톧헟쏇붫풴헻뫏쓜솦햹뾪ꎬ내헕맽돌뗄맛뗣ꎬ듓풴쪶뇰ꆢ벳좡ꆢ엤훃폫벤믮뗈랽쏦럖뇰쳖싛쇋풴헻뫏쓜솦뛔뒴튵벨킧ퟷ폃믺샭ꆣBrush(2001)횸돶풴뗄쪶뇰쫇웳튵돉뎤랢햹뗄훘튪잰쳡ꆣ풴뗄믱좡쫇웳튵쳡짽웤뫋탄쓜솦뫍뚯첬쓜솦뗄놣헏ꆣ엤훃쫇헻뫏뗄훐탄뮷뷚ꎬ믱좡뗄풴쫇럱뻟폐볛횵ꎬ맘볼퓚폚웳튵뛔웤죧뫎욥엤ꆣ벤믮샻폃붫ퟮ훕뻶뚨풴쓜럱랢믓ퟮ듳웤킧쓜ꎬ뒴퓬탂볛횵ꆣ웳튵풴헻뫏쓜솦뗄쳡짽ꎬ폐훺폚웤믱뗃뷏병벨킧ꆣ 17
뗚죽헂 퇐뺿릹쮼폫짨볆 뗚죽헂⃑킾뾹맋볓옠뗚튻뷚 틔췹퇐뺿뗄ퟜ뷡 뛔퓧웚뗄컄쿗뷸탐믘맋ퟜ뷡뿉틔랢쿖ꎬ틔췹뗄퇐뺿틑뛔풴헻뫏쓜솦ꆢ뒴튵떼쿲ꆢ뒴튵벨킧틔벰쯼쏇횮볤뗄맘쾵뷸탐쇋뇈뷏짮죫뗄첽쳖ꎬ볓틔룅삨ꎬ뿉틔뗃돶틔쿂튻킩훘튪뗄뷡싛ꎺ 1ꆢ뒴튵풴쫇탂뒴웳튵뾪랢믺믡뗄맽돌훐춶죫퓋펪뗄쯹폐닺ퟜ뫍ꎬ쫇뒴튵쯹틀삵뗄놾ꎬ웤뛔탂웳튵뒴붨뫍돉뎤랢햹뗄훘튪탔쫇늻퇔뛸폷뗄ꆣ떫뷶폐풴늢늻튻뚨뻍쓜믱뗃돉릦ꎬ뒴튵뻟폐룟돉뎤뗈쳘탔ꎬ퓚늻춬쪱웚ꎬ탨튪늻춬샠탍뗄풴뷸탐ퟩ뫏폫엤훃틔랢믓풴뗄ퟮ듳킧쓜ꆣ틲듋풴헻뫏쓜솦헻룶뒴튵맽돌훐랢믓ퟅ훘튪ퟷ폃ꆣ웳튵횻폐쳡짽뛔풴뗄헻뫏쓜솦ꎬ닅쓜붫ퟩ횯쓚췢쇣즢뗄풴폅뮯엤훃웰살ꎬ랢믓웤ퟮ듳킧폃ꎬ뒴퓬탂뗄볛횵ꆣ 2ꆢ뒴튵떼쿲쫇폅탣뒴튵웳튵뗄쯹뻟놸뗄튻룶훘튪쳘훊ꆣ뒴튵떼쿲틑뺭돉캪뒴튵퇐뺿쇬폲훐뗄죈뗣ꆣ죧맻쓄룶탂뒴웳튵쿫믱뗃뎤ퟣ랢햹ꎬ뻍뇘탫폐튻뚨뗄뒴튵떼쿲ꎬ틲캪헢튻뻶닟쟣쿲붫ퟮ훕뛔뒴튵벨킧닺짺믽벫ퟷ폃ꆣ 3ꆢ틔췹뗄톧헟뛔뒴튵떼쿲뷸탐쇋듳솿뗄퇐뺿ꎬ뛔웤쓚퓚릹돉튪쯘틑폐쟥뗄죏쪶ꎬ쒿잰ꎬ웕뇩횧돖뒴튵떼쿲뻟폐뒴탂탔ꆢ쿈탐탔폫럧쿕돐떣헢죽룶뛀솢캬뛈ꆣ춬쪱틑폐쿠뛔돉쫬뗄솿뇭ꎬ웤탅뛈뫍킧뛈튲퓚늻춬쟩뺳쿂뗃떽쇋퇩횤ꆣ 4ꆢ톧헟쏇뛔뒴튵떼쿲폫뒴튵벨킧횮볤뗄맘쾵뷸탐쇋짮죫뗘퇐뺿ꎬ늻춬쟩뺳쿂ꎬ듳늿럖쪵횤퇐뺿횧돖쇋뒴튵떼쿲뛔뒴튵벨킧뻟폐헽쿲믽벫뗄ퟷ폃ꆣ춬쪱튲죏쪶떽뒴튵떼쿲뛔뒴튵벨킧뗄ퟷ폃믺샭뫍춾뺶쫇튻룶쿠떱뢴퓓뗄맽돌ꆣ톧헟쏇춨맽틽죫잰훃뇤솿ꎬ퇐쳖뒴튵떼쿲뛔벨킧뗄맘쾵ꆣ 뺡맜뒴튵떼쿲퇐뺿틑좡뗃쇋럡뢻뗄샭싛돉맻ꎬ떫평폚뛔뒴튵떼쿲뗄퇐뺿쪱죕짐뛌ꎬ헢튻쇬폲듦퓚ퟅ탭뛠늻췪짆랽쏦ꎬ짵훁냼삨뗃떽뗄탭뛠뷡싛튲쫇뮥쿠쎬뛜뗄ꆣ헢킩뚼탨튪뷸튻늽짮죫뗄퇐뺿ꆣ맽좥뗄퇐뺿듳뚼쳖싛뒴튵떼쿲폫벨킧횮볤횱뷓맘쾵ꎬ샭싛쒣탍뗄릹붨쿠뛔맽폚볲떥ꎬ퓚늻춬컄뮯놳뺰쿂뷢쫍솦늻잿ꆣDess(2004)헫뛔헢훖쟩뿶ꎬ쳡돶퇐뺿헟펦룃좥쮼뾼쓇킩펰쿬뒴튵떼쿲랢믓ퟷ폃뗄잰훃뇤솿뫍훐뷩틲쯘ꎬ헢닅쓜룼짮죫뗘췚뻲뒴튵떼쿲뛔벨킧뗄ퟷ폃믺샭ꆣ 틔췹퇐뺿뒴튵떼쿲뛔벨킧펰쿬뗄튻킩뷡싛뚼쫇믹폚맺췢쟩뺳뾪햹뗄ꎬ뛔훐맺18
뗚죽헂 퇐뺿릹쮼폫짨볆 웳튵뗄퇐뺿퓲쏷쿔늻ퟣꎬ뇏뺹훐맺짧믡컄뮯잰뺰폫맺췢듦퓚ퟅ닮틬ꎬ틲듋뛔컒맺웳튵퇹놾뷸탐퇐뺿뻍쿔뗃뫜폐뇘튪ꆣ놾컄틽죫잰훃뇤솿풴헻뫏쓜솦ꎬ럖컶풴헻뫏쓜솦뛔뒴튵떼쿲뫍뒴튵벨킧뗄펰쿬ꎬ춬쪱붫뒴튵떼쿲햹뾪ꎬ퇩횤쇋탂뒴탔ꆢ쿈탐탔폫럧쿕돐떣뛔뒴튵벨킧뗄펰쿬ퟷ폃ꎬ쾣췻뛔뒴튵퇐뺿쳭볓췟ꆣ 뗚뛾뷚 룅쓮쒣탍벰뇤솿쮵쏷 쪮벸쓪살ꎬ뒴튵떼쿲톧헟쏇맘힢뗄죈뗣ꆣ퓚펦뛔췢늿뮷뺳뗄늻좷뚨탔틔벰쫐뎡벤쇒뺺헹랽쏦ꎬ뒴튵떼쿲놻쫓캪뷢뻶헢킩컊쳢뗄튻룶뺫쏷톡퓱ꆣ틔췹뗄퇐뺿뇭쏷ꎬ뒴튵떼쿲쫇돉릦웳튵뗄튻룶훘튪쳘훊ꎬ룟뒴튵떼쿲뗄웳튵뻍쓜믱뗃돉릦ꆣ뛸웳튵탎돉뒴튵떼쿲뻶닟쟣쿲쪱쓜캪릫쮾듸살룟뛮믘놨ꆣ좻뛸ꎬ폐킩톧헟늢늻죏춬ꎬ쯻쏇죏캪뒴튵떼쿲ퟷ캪튻훖햽싔뻶닟럧룱ꎬ웤뛔뒴튵벨킧쓜릻랢믓믽벫ퟷ폃ꎬ떫늢럇퓚쯹폐쟩뺳쿂뚼쫊폃ꆣ헢튲쮵쏷뷶뷶퇐뺿뒴튵떼쿲폫뒴튵벨킧솽룶뇤솿횮볤뗄맘쾵쫇풶풶늻릻뗄ꎬ뮹탨튪뾼싇쓇킩쿞훆틲쯘ꎬ훐뷩틲쯘틔벰잰훃뇤솿뗈ꆣ퓚헫뛔튻킩쳘뚨쟩뺳쿂ꎬ뒴튵떼쿲뛔벨킧펰쿬늻쏷쿔쪱ꎬ펦룃닉좡튻킩듫쪩살뢨훺뒴튵떼쿲ꆣ퓚뾼싇췢늿뮷뺳틲쯘뗄춬쪱튲펦룃맘힢ퟩ횯쓚늿틲쯘ꆣ놾컄틽죫잰훃뇤솿풴헻뫏쓜솦ꎬ퇐뺿ퟩ횯풴헻뫏쓜솦뗄잿죵죧뫎펰쿬뒴튵떼쿲뛔벨킧랢믓킧맻ꆣ룹뻝Lumpkin & Dess(l996)죏캪뒴튵떼쿲튻튻뒴튵벨킧맘쾵평폚쫜떽웳튵췢늿뮷뺳쳘탔틔벰ퟩ횯쓚늿쳘탔뗄펰쿬ꎬ쪹뗃퇐뺿뗄뷡싛믡폐닮틬ꆣ놾퇐뺿닉폃쇋풴헻뫏쓜솦뗄릹붨쓜솦폫샻폃쓜솦솽룶캬뛈ퟷ캪룉죅틲솿살뛔뒴튵떼쿲튻튻뒴튵벨킧맘쾵뷸탐퇐뺿ꆣ믹폚헢튻쮼슷뷸탐ꎬ릹붨쇋죧쿂뗄샭싛쒣탍: 풴헻뫏쓜솦 뒴튵떼쿲뒴튵벨킧 릹붨쓜솦 뒴탂탔믱샻탔 샻폃쓜솦 쿈탐탔돉뎤탔 럧쿕돐떣 춼 풴헻뫏쓜솦ꆢ뒴튵떼쿲폫뒴튵벨킧맘쾵뗄샭싛쒣탍 헫뛔틔짏쒣탍ꎬ룷룶뇤솿벰웤캬뛈쮵쏷죧쿂ꎺ 1ꆢ풴헻뫏쓜솦ꎺ횸퓚뒴튵맽돌훐ꎬ탂뒴웳튵듓ퟩ횯쓚췢릹붨쯹탨뗄풴ꎬ늢벤믮샻폃뗄쓜솦ꆣ뿉틔듓풴릹붨쓜솦뫍풴샻폃쓜솦솽랽쏦볓틔퇐뺿ꆣ풴19
뗚죽헂 퇐뺿릹쮼폫짨볆 릹붨쓜솦쫇횸웳튵듓췢늿뮷뺳훐쪶뇰뫍믱좡쯹탨뗄풴늢뷸탐엤훃폅뮯뗄튻훖뚯첬뗄훷쳥쓜솦ꎻ풴샻폃쓜솦쫇횸뛔틑욥엤뫃뗄풴뷸탐벤믮ꎬ퓋폃떽뒴튵쪵볹훐좥ꎬ쪹풴랢믓럅듳킧펦뗄튻훖웳튵쓜솦ꆣ 2ꆢ뒴튵떼쿲ꎺ웳튵퓚돉뎤랢맽돌훐ꎬ쏦뛔탂뗄뷸죫컊쳢믲햽싔뻶닟쪱쯹쳥쿖돶뗄뒴탂탔ꆢ럧쿕돐떣뫍쿈탐탔뗄뒴튵뺫짱뫍탐캪쟣쿲ꆣ틲듋놾퇐뺿튲뻍닉폃뒴탂탔ꆢ쿈탐탔폫럧쿕돐떣죽룶뛀솢캬뛈살뾼달뒴튵떼쿲뛔뒴튵벨킧뗄ퟷ폃춾뺶ꆣ웤훐뒴탂탔랴펳쇋웳튵훂솦폚쓇킩뿉쓜닺짺탂닺욷뫍탂짺닺릤틕뗄뒴틢뫍쪵퇩맽돌뗄탐캪쟣쿲ꎻ쿈탐탔랴펳뗄쫇웳튵퓚뺺헹뛔쫖횮잰뻍쿈풤닢캴살탨쟳ꎬ톰쟳믺믡뗄튻훖잰햰탔탐뚯ꎻ럧쿕돐떣랴펳뗄쫇뒴튵탍맜샭헟캪쇋ힷ훰믺믡룊풸쎰쿕뗄튻훖탐캪쟣쿲ꆣ 3ꆢ뒴튵벨킧ꎺ횸뗄쫇탂뒴웳튵췪돉ꆢ횴탐뗄탐캪ꎬ틔벰췪돉쒳쿮죎컱믲듯떽쒳룶ퟩ횯쒿뇪뗄돌뛈ꆣ뒴튵벨킧펦룃쳥쿖돶웳튵돵뒴뫍돉뎤맽돌훐뒴튵헟뗄뒴튵믮뚯쯹닺짺룷훖뷡맻ꆣ뛸헢훖뷡맻퓚돵뒴쪱웚랴펳퓚짺듦탔짏ꎬ뻟쳥뇭쿖탂뒴웳튵뗄돉뎤탔벰믱샻탔ꆣ웤훐돉뎤탔쫇횸탂뒴웳튵뗄돉뎤쓜솦ꎬ믱샻탔쫇횸탂뒴웳튵뗄믱샻쓜솦ꆣ 뗚죽뷚 퇐뺿볙짨뗄쳡돶 헫뛔잰쏦쳡돶뗄쒣탍ꎬ놾컄붫퇩횤틔뒴튵떼쿲캪훐뷩뇤솿뗄쒣탍훐ꎬ풴헻뫏쓜솦뛔뒴튵떼쿲뫍뒴튵벨킧뗄ퟷ폃ꎬ틔벰뒴튵떼쿲뛔뒴튵벨킧펰쿬ꎬ퇐뺿붫맘힢죽룶랽쏦쓚죝ꆣ퇩횤뒴튵떼쿲룷캬뛈뛔뒴튵벨킧뗄펰쿬ꎻ퇩횤풴헻뫏쓜솦솽캬뛈뗘뒴튵떼쿲뗄ퟷ폃ꎻ퇩횤풴헻뫏쓜솦솽캬뛈뛔뒴튵벨킧맘쾵뗄펰쿬ꆣ 튻ꆢ뒴튵떼쿲뛔뒴튵벨킧뗄펰쿬 춨맽뛔뒴튵떼쿲폫뒴튵벨킧맘쾵퇐뺿뗄쿠맘컄쿗뷸탐맩쓉뿉틔랢쿖ꎬ듳뛠쫽뗄퇐뺿뷡싛뚼쿔쪾뒴튵떼쿲뛔뒴튵벨킧폐ퟅ헽쿲ퟷ폃ꆣSchollhamer(1982)횸돶뒴튵떼쿲쫇웳튵믱좡돖뻃뺺헹폅쫆뫍뷏뫃벨킧늻뿉좱짙뗄풪쯘ꆣ퓚틽죫튻킩뮺돥틲쯘뫳ꎬ랢쿖퓚뺺헹벤쇒뫍늻좷뚨탔뗄뮷뺳쿂ꎬ룟뗄뒴튵떼쿲뇈뗍뗄뒴튵떼쿲뗄웳튵쓜믱뗃룼뫃뗄벨킧ꎻ뛸퓚뿭쯉탔뮷뺳훐ꎬ뒴튵떼쿲퓲쿔뗃늻쫇쓇킩뇘튪쇋ꎬ웤폫뒴튵벨킧뗄쿠맘탔뇈뷏짙ꆣWiklundꎨ1999ꎩꎬBaumꎨ2001ꎩꎬLumpkin & Dessꎨ2001ꎩ뗈톧헟퓚늻춬쪱웚ꆢ늻춬뗘쟸퇐뺿쇋뒴튵떼쿲뛔뒴튵벨킧뗄횱뷓ퟷ폃쿔20
뗚죽헂 퇐뺿릹쮼폫짨볆 쪾ꎬ뛾헟퓚튻뚨돌뛈짏듦퓚헽쿠맘ꆣ 놾퇐뺿훐쯹닉폃뗄뒴튵떼쿲죽룶캬뛈훐ꎬ뒴탂탔횸뗄쫇웳튵횧돖뫍훂솦폚쓇킩탂쿫램ꆢ탂닺욷뫍럾컱ꆢ탂벼쫵틔벰뒴틢뗈쪵퇩뫍뒴퓬탔믮뚯뗄뒴튵탐캪쟣쿲ꆣ웳튵뗄뒴탂탔뛈풽룟ꎬ웤뛔닺욷뗄퇐랢쯙뛈뻍뿬ꎬ틽죫닺욷믲럾컱뗄훜웚뻍뛌ꎬ듓뛸뿉틔냑컕뫃탂뗄믺믡ꆣLumpkin(2005)죏캪웳튵뿉틔춨맽뻟쳥뗄닺욷쫐뎡뒴탂ꆢ맜샭뒴탂틔벰벼쫵뒴탂뗈춾뺶살폐킧뗘쳡짽웳튵뗄뫋탄뺺헹솦ꎬ늢ퟮ훕믱뗃뷏병뗄벨킧ꆣ 쿈뚯탔쳥쿖뗄쫇튻룶웳튵뗄잰햰탔쫓뷇틔벰톰쟳믺믡뗄탐뚯ꎨLumpkin 1996)ꆣ쿈탐뗄웳튵췹췹뿉틔퓚뺭펪맽돌훐믱뗃쿈랢폅쫆ꎺ(l)평폚좱랦뺺헹ꎬ쎻폐뛔쫖폫웤헹뛡쫐뎡럝뛮ꎬퟷ캪탐튵쿈쟽ꎬ췹췹쓜릻퓚뛌웚쓚믱뗃뎬뛮샻죳ꆣ(2)틑뺭붨솢웰욷없횪쏻뛈뗄쿈탐웳튵늻뷶쓜릻놣돖뫃쯻쏇뗄탎쿳ꎬ뮹붫놣폐쿈탐헟펦떱뗄쫐뎡럝뛮ꆣ튻냣뛸퇔ꎬ쿈탐헟뗄쿈뚯폅쫆뮹뿉틔튻횱돖탸떽닺튵짺쏼훜웚뗄돉쫬웚(Dess뫍Lumpkinꎬ2005)ꆣ 럧쿕돐떣헢튻캬뛈쳥쿖뗄쫇웳튵늻맋뷡맻듳떨탐뚯힡쫐뎡믺믡뗄틢풸(Lumpkin뫍Dessꎬ1996)ꆣ뒴튵탍맜샭헟퓚뺭펪맽돌훐튻냣믡쏦쇙뗄럧쿕뿉틔럖캪죽샠ꎺ튵컱럧쿕ꎬ닆컱럧쿕뫍룶죋럧쿕(Dess뫍Lumpkinꎬ2005)ꆣ쯤좻듓헢튻뚨틥훐뾴늻돶럧쿕돐떣폫뒴튵벨킧횮볤뗄쏷쿔맘솪탔ꎬ떫퓚웳튵짺닺뺭펪뗄쪵볹훐ꎬ듳떨뎢쫔뗄ퟶ램믡캪웳튵듸살뷏룟뗄욽뻹벨킧(뺡맜튲믡쪹벨킧뗄랽닮뇤듳)ꆣ틲듋ꎬ럧쿕돐떣ꎬ퓚뒴튵믮뚯맽돌훐ꎬ듓뎤풶살뾴ꎬ튲뿉쓜믡듸살뷏룟뗄뒴튵벨킧ꆣ 뒴튵떼쿲뛔뒴튵벨킧뗄펰쿬튲뻍쫇웤쯹냼몬뗄캬뛈뛔뒴튵벨킧뗄ퟛ뫏펰쿬ꆣ룹뻝틔짏뗄럖컶ꎬ틔벰틔췹퇐뺿뗄뷡싛ꎬ놾컄죏캪뒴튵떼쿲틔벰쯼뗄룷룶캬뛈뛔뒴튵벨킧닺짺헽쿲펰쿬ꆣ뻝듋놾컄쳡돶틔쿂볙짨ꎺ H1ꎺ뒴탂탔뛔뒴튵벨킧폐ퟅ헽쿲펰쿬ꎻ H2ꎺ쿈탐탔뛔뒴튵벨킧폐ퟅ헽쿲펰쿬ꎻ H3ꎺ럧쿕돐떣뛔뒴튵벨킧폐ퟅ헽쿲펰쿬ꆣ 뛾ꆢ풴헻뫏쓜솦뛔뒴튵떼쿲뗄펰쿬 풴믹뒡샭싛죏캪횻폐쓇킩폐볛횵뗄ꆢ쾡좱뗄뫍늻뿉뢴훆뗄풴닅쓜쪹웳튵믱뗃뷏뫃벨킧틔벰돖뻃뗄뺺헹폅쫆ꆣ뒴튵샭싛퇐뺿돵웚ꎬ톧헟쏇튲맘힢뒴튵풴21
뗚죽헂 퇐뺿릹쮼폫짨볆 뗄샠뇰폫죚뫏ꎬ쪶뇰쓄킩닅쫇뫋탄풴ꆣ좻뛸ꎬ평폚뒴튵웳튵쫜떽탂뷸죫좱쿝ꎬ풴풼쫸뗈삧뺳ꎬ쪹웤뛔쯹탨풴뗄믱좡듦퓚튻뚨뗄삧쓑ꎬ쳘뇰쫇짦벰죚뗈랽쏦ꆣ풴믱좡폫엤훃뗈컊쳢튲돉캪뒴튵샭싛퇐뺿훐뗄붹뗣컊쳢ꎬ춨맽뛔컄쿗뗄믘맋폫맩쓉ꎬ랢쿖탭뛠톧헟뚼죏캪풴헻뫏쓜솦쫇펰쿬뒴튵떼쿲뗄튻룶훘튪틲쯘ꎬ죏캪잿풴헻뫏쓜솦뛔뒴튵웳튵뗄돉뎤랢햹폐ퟅ믽벫듙뷸ퟷ폃ꆣ Romanelli(2005)퇐뺿횸돶웳튵퓚닉좡뒴탂탔ꆢ쿈탐탔폫럧쿕돐떣뗈뒴튵뻶닟럧룱쪱붫믡떼훂뛔뒴튵풴뗄룟쿻뫄ꆣ뛸죧맻탂뒴웳튵쓜릻쳡짽풴헻뫏쓜솦ꎬ쪹웤폫뒴튵탐캪쿠욥엤ꎬ톡퓱룼맣랺폐킧뗄햽싔뻶닟랽쪽ꎬ웳튵뒴탂ꆢ뎬잰탐뚯뫍돐떣럧쿕뗄쓜솦뻍믡볓잿ꆣ뒴탂탔쫇뒴튵떼쿲뗄뫋탄튪쯘ꎬ뒴탂뗄맽돌웤쪵튲쫇튻룶풴뮯뗄맽돌ꆣ풴헻뫏쓜솦풽잿ꎬ웤믱좡쯹탨풴뻍풽틗ꎬ풴엤훃폫폅뮯뻍잿ꎬ듓뛸듙쪹풴쿲쓜솦뗄뮯ꆣ뛀쳘뗄풴엤훃뷡릹쪹뒴탂탔룼잿ꆣ뛸퓚풴헻뫏뗄맽돌훐ꎬ뻟놸뒴탂탔뗄웳튵믡틽죫탂닺욷믲탂럾컱틔믱뗃룟뛮샻죳ꆣ풴헻뫏쓜솦풽잿ꎬ붫쪹웳튵쿈뚯닟싔믱뗃쿠뛔뗄쪱볤폅쫆ꆣ퓚웳튵닉좡쿈뚯탐캪뷸죫탂쇬폲쪱ꎬ룟킧뗄풴엤훃쓜솦붫쪹웳튵쏦뛔췢늿뮷뺳늻좷뚨탔ퟨ솦복짙틔릮만웤쿈뚯폅쫆ꎬ뿬쯙햼쇬쿺쫛쟾뗀ꎬ삩듳욷없횪쏻뛈ꎬ듓뛸믱뗃뺺헹폅쫆ꆣ럧쿕돐떣쫇웳튵늻맋뷡맻듳떨탐뚯힡쫐뎡믺믡뗄틢풸ꆣ풴헻뫏쓜솦붫펰쿬ퟅ웳튵뛔췢늿럧쿕뗄첬뛈ꆣ틲캪풴헻뫏쓜솦풽잿붫쪹웳튵뗄듳떨탐캪룼쳭쪤쯣ꎬ쪹웤퓚늶ힽ짌튵믺믡쪱뻟폐ퟣ릻뗄풴살횧독ꆣ뛔풴헻뫏풽폐킧뗄웳튵췹췹믡훆뚨럧쿕뷏듳뗄떫쓜듸살룟벨킧뗄뒴튵뻶닟ꆣ 틲듋놾컄죏캪풴헻뫏쓜솦폫뒴튵떼쿲돊헽쿠맘맘쾵ꎬ늢쳡돶죧쿂볙짨ꎺ H4ꎺ뒴튵헟풴릹붨쓜솦풽잿퓲뒴탂탔풽잿 H5ꎺ뒴튵헟풴릹붨쓜솦풽잿퓲쿈탐탔풽잿 H6ꎺ뒴튵헟풴릹붨쓜솦풽잿퓲럧쿕돐떣풽잿 H7ꎺ뒴튵헟풴샻폃쓜솦풽잿퓲뒴탂탔풽잿 H8ꎺ뒴튵헟풴샻폃쓜솦풽잿퓲쿈탐탔풽잿 H9ꎺ뒴튵헟풴샻폃쓜솦풽잿퓲럧쿕돐떣풽잿 죽ꆢ풴헻뫏쓜솦뛔뒴튵벨킧뗄펰쿬 퓚웳튵풴믹뒡샭싛훐ꎬ풴놻쫓캪웳튵돉뎤ힳ듳뗄뫋탄튪쯘ꎬ룼쫇웳튵좥믱뗃룟뛮벨킧뗄룹놾ꎨBarney,1995ꎩꆣ탂뒴웳튵쫜탂뷸죫뗄좱쿝ꎬ퓚뾪랢믺믡맽22
뗚죽헂 퇐뺿릹쮼폫짨볆 돌훐췹췹듦퓚ퟅ풴풼쫸컊쳢ꎬ춬쪱쏦쇙ퟅ풴헻뫏뗄삧뺳ꆣ뒴튵돵웚ꎬ탂뒴웳튵뻟폐룟돉뎤쳘탔ꎬ듋쪱탨튪ퟣ릻뗄풴살놣헏뒴튵믮뚯뗄뾪햹ꆣ좻뛸뒴튵헟췹췹좱랦쯹탨뗄룷샠풴틔벰뛔믱좡풴뗄헻뫏쓜솦ꆣ Dougherty & Hardyꎨ1996ꎩ횸돶퓚돉쫬탍듳웳튵훐ꎬ돉릦뗄쿮쒿퓚믱뗃웳튵풴횧돖랽쏦뇈늻돉릦뗄쿮쒿튪잿ꆣ웳튵뒴붨돵웚ꎬ튻냣쯹탨뷰뫍룷훖풴뚼쫇평뒴튵헟맘쾵췸훐쟗엳뫃폑쯹쳡릩ꎬ퓚헢훖쟩뿶쿂ꎬ탂뒴웳튵뫜쓑캬돖웤돖탸탔뗘돉뎤ꆣ틲캪돵쪼풴뗄듦솿쫇벫웤폐쿞뗄ꎬ뛸쟒뫜뿬뻍믡놻폃췪ꎬ늻ퟣ틔횧독ퟩ횯뗄뎤웚랢햹ꆣ헢퇹뻍튪쟳탂뒴웳튵퓚늻뛏쳡짽뛔틑폐풴뗄샻폃킧싊쪱ꎬ뮹뗃듓췢늿쟋뚯뫍믱좡웳튵랢햹ힳ듳뫜탨뗄웤쯼풴ꆣ틲듋ꎬ풴헻뫏쓜솦뛔쳡짽탂뒴웳튵뗄벨킧틔벰듙뷸웳튵돉뎤랢햹뚼폐ퟅ믽벫듙뷸ퟷ폃ꆣ 탂웳튵풴릹붨쓜솦풽잿ꎬ뻍믡쪹ퟩ횯쓚룷샠풴뗄쇷뚯탔퓶잿ꎬ듓뛸쳡룟웳튵뗄닺돶ꆣ쳡룟풴뗄쇷뚯탔튲퓚튻뚨돌뛈짏뮺뷢풴풼쫸삧뺳ꆣ틲듋ꎬ뛔탂뒴웳튵살쮵ꎬ쳡룟풴릹붨쓜솦뛔쳡짽탂웳튵벨킧폐ퟅ믽벫펰쿬ꆣ풴릹붨맽돌훐짦벰뛔풴뗄폅뮯엤훃ꎬ벴뛔웳튵쯹쪶뇰틑믱뗃뗄럖즢풴뷸탐폐킧엤훃ꆣ뒴탂탔뗄폅뮯엤훃풴붫냾샫쓇킩컞킧풴ꎬ캪웳튵듸살탂뗄뺺헹풴ꎬ탎돉웳튵튻훖쓚뮯쓜솦ꎬ붫웳튵뗄뿉폃풴욽첨췘햹뾪살ꎬ폐샻폃탂웳튵벨킧쮮살뗄쳡짽ꆣSirmonꎬHitt & Irelandꎨ2007ꎩ춨맽붫풴헻뫏맽돌뮮럖캪죽룶뷗뛎ꎬ벴풴릹붨ꆢ풴뻛벯뫍풴샻폃ꎬ쿪쾸싛쫶쇋죽룶맽돌뛔웳튵벨킧뗄ퟷ폃믺샭ꆣ늢맩쓉쇋풴헻뫏쓜솦뛔웳튵벨킧쳡짽뗄ퟷ폃춾뺶ꆣTeece&Pisanoꎨ1994ꎩ쳡돶뚯첬쓜솦룅쓮틔살ꎬ룃샭싛풽살풽틽웰톧쫵뷧맘힢ꆣ뚯첬쓜솦뗄놾훊웤쪵뻍쫇웳튵뚯첬뗄풴헻뫏쓜솦ꎬ헢훖뚯첬쓜솦폐샻폚웳튵뛔쓚췢늿풴뷸탐쪶뇰ꆢ헻뫏ꆢ붨솢뫍퓙엤훃ꎬ뷸뛸듙뷸웳튵쪶뇰뫍샻폃풴ꎬퟮ훕듯떽쳡룟웳튵벨킧뗄ퟷ폃ꆣ 춨맽틔짏럖컶ꎬ톧헟쏇듳뛠죏춬룟킧뗄풴헻뫏쓜솦쫇돵뒴웳튵믱뗃솼뫃벨킧뗄튻룶훘튪틲쯘ꎬ웤뛔뒴튵벨킧폐ퟅ헽쿲펰쿬ꆣ믹폚헢킩럖컶ꎬ놾컄쳡돶죧쿂볙짨ꎺ 볙짨10ꎺ풴릹붨쓜솦폫탂뒴웳튵벨킧횮볤듦퓚ퟅ헽쿠맘맘쾵ꎻ 볙짨11ꎺ풴샻폃쓜솦폫탂뒴웳튵벨킧횮볤듦퓚ퟅ헽쿠맘맘쾵ꆣ 23
뗚쯄헂 컊뻭짨볆벰럖컶랽램 뗚쯄헂쪾욼낷훎붷ꠠ뗚튻뷚 퇹놾뗄톡좡 놾퇐뺿횼퓚첽쳖탂뒴웳튵풴헻뫏쓜솦ꆢ뒴튵떼쿲폫뒴튵벨킧뗄맘쾵ꆣ틲듋퇐뺿뗄뛔쿳뻍쫇탂뒴웳튵ꎬ뛸컊뻭뗄쳮듰헟퓲튪쟳쫇뒴튵헟믲뒴튵췅뛓뗄뫋탄돉풱ꎬ틲캪횻폐쯻쏇닅쓜헦헽뗘쇋뷢탂뒴웳튵뗄뒴솢벰돉뎤랢햹뗄ힴ뿶ꆣ놾컄붫퓆쓏쪡훐킡웳튵ퟷ캪훷튪뗷퇐뛔쿳ꎬ듓퓆쓏쪡2010쓪훐킡웳튵뻖믱좡쿠맘쫽뻝ꆢ쟸맜캯믡쓃떽웳튵쏻슼틔벰췸짏웳튵믆튳닩떽쿠맘웳튵튻킩탅쾢,ퟮ뫳톡뚨쇋300룶컷쓏뗘쟸훐킡웳튵뷸탐뗷닩퇐뺿ꆣ 뗚뛾뷚 뇤솿뛈솿 튻ꆢ풴헻뫏쓜솦닢솿 풴헻뫏쓜솦냼몬솽룶캬뛈ꎬ럖뇰쫇풴릹붨쓜솦뫍풴샻폃쓜솦ꆣ 춨맽잰쏦헂뷚럖컶ꎬ놾컄붫풴헻뫏쓜솦뮮럖캪솽룶캬뛈럻뫏웤쓚몭튪쟳ꆣ뛔풴헻뫏쓜솦뛈솿뗄퇐뺿뇈뷏짙ꎬ톧헟쏇믹폚룷ퟔ퇐뺿쒿뗄ꎬ듓늻춬쫓뷇뛔풴헻뫏쓜솦뷸탐쇋뛈솿ꎬ떫짐좱짙돉쫬뗄횸뇪쳥쾵ꆣ십뫨병ꎨ2008ꎩ퓚웤늩쪿싛컄훐듓뒴튵헟폫뒴튵췅뛓솽룶닣듎살뛈솿풴헻뫏쓜솦ꎬ웤닢솿횸뇪냼삨ꎺ뒴튵헟뛔ퟔ벺풴?뢳뗄싺틢뛈ꆢ뛔쯹퓚ퟩ횯훐쯹탨풴뗄췘햹폫뾪랢뗄싺틢뛈ꆢ쿖폐풴쓜럱쳡룟뒴튵헟췪돉룶죋죎컱ꆢ뛔ퟩ횯돉풱횮볤뗄풴릲쿭맜샭쫇럱싺틢ꆢퟩ횯샻폃쿖폐풴좥뾪랢탂풴뗄킧싊뗈벸룶랽쏦살닢솿ꆣ놾퇐뺿죏캪풴헻뫏쓜솦쫇탂뒴웳튵퓚뒴솢벰돉뎤랢햹맽돌훐쯹뻟폐뗄톡퓱ꆢ믱좡ꆢ엤훃뫍벤믮샻폃ퟩ횯쓚췢늻춬훖샠풴뗄쓜솦ꎬ쯼뻶뚨ퟅ탂뒴웳튵풴뗄킧쓜쫇럱뗃틔돤럖랢믓ꎬ펰쿬ퟅ탂뒴웳튵뗄뺺헹폅쫆ꆣ뻝듋놾컄붫풴헻뫏쓜솦뮮럖캪풴릹붨뫍풴샻폃쓜솦솽룶캬뛈ꎬ벴탂뒴웳튵쓜ퟩ횯쓚췢뮷뺳훐풴쪶뇰ꆢ믱떽틔벰폅뮯엤훃뗄풴릹붨쓜솦뫍뛔틑ퟩ횯뫃뗄뒴튵풴뷸탐벤믮뗄풴샻폃쓜솦ꆣ놾컄쯹닉폃뗄닢솿횸뇪죧뇭4-쯹쪾ꆣ 24
뗚쯄헂 컊뻭짨볆벰럖컶랽램 뇭 풴헻뫏쓜솦뗄닢솿횸뇪 뇠싫 캬뛈 컊쿮 resbui1 쓜릻쪶뇰떽쯹탨뗄뒴튵풴 풴 resbui2 쓜릻믱좡떽쯹탨뗄뒴튵풴 릹붨 resbui3 쓜릻ퟩ뫏쿖폐뗄뒴튵풴 쓜솦 resbui4 쓜릻붫탂풴뫍쿖폐풴죚뫏엤훃 resuse1 쓜릻폐킧뗘벤믮틑릹붨뗄풴 풴 뷏룟쮮욽 resuse2 풴쪹폃킧싊듯떽쇋탐튵샻폃 resuse3 풴뗄샻폃싊룟 쓜솦 샻폃쿖폐뗄풴뾪랢뫍췘햹쯹탨뗄웤쯼풴 resuse4 뛾ꆢ뒴튵떼쿲닢솿 뒴튵떼쿲쫇웳튵퓚뷸탐뻶닟맽돌훐쯹뻟폐뗄튻훖뒴튵뺫짱뗄햽싔뻶닟럧룱ꎬ뇭쿖캪캪쇋ힷ쟳웳튵룟킧틦뫍룟랢햹ꎬ뛸럇뎣뻟놸뒴탂틢쪶ꆢ폂폚돐떣럧쿕틔벰룒ퟶ쫐뎡뗄쿈탐헟뫍뾪췘헟ꎬ뒴튵떼쿲튲돤럖랴펳쇋탂뒴웳튵뗄뫋탄뺺헹솦ꆣ룹뻝뇤솿쓚몭ꎬ놾컄붫뒴튵떼쿲럖캪뒴탂탔ꆢ쿈탐탔뫍럧쿕돐떣죽룶캬뛈ꆣ헢죽룶캬뛈뗄닢솿틑폐돉쫬뿉폃뗄솿뇭ꎬ퓧웚뗄퇐뺿훐ꎬ톧헟쏇뛠닉폃Miller뫍 Friesen(1982)뗄랽램살닢솿ꎬ헢럝컊뻭뗃떽맣랺펦폃ꆣ놾컄닉폃Covin(1989)쯹짨볆뗄맘폚뒴튵떼쿲닢솿뗄컊뻭ꎬ틔9룶쳢쿮살뫢솿뒴튵떼쿲ꆣ뻟쳥쳢쿮죧뇭4-쯹쪾ꆣ 뇭 풴헻뫏쓜솦뗄닢솿횸뇪 뇠싫 캬뛈 컊쿮 inn1 릫쮾잿뗷퇐랢ꆢ벼쫵쇬쿈뫍뒴탂 뒴탂탔 퓚ퟮ뷼죽쓪폐뫜뛠탂닺욷짏쿟 inn2 릫쮾inn3 릫쮾탂닺욷ꎨ럾컱ꎩ듳뛠쫇듳럹뛈뗄뒴탂 pro1 쏦뛔춬탐뺺헹쪱ꎬ춨뎣쫇릫쮾쿈닉좡탐뚯 pro2 쟣쿲폚ퟷ캪ꆰ쇬떼헟ꆱꎬ뺭뎣뇈춬탐쇬쿈췆돶탂닺욷믲쟀쿈뷸죫쿈탐탔 탂쫐뎡믲싊쿈틽폃탂뗄맜샭쒣쪽ꆢ탂벼쫵 pro3 룟닣훷맜뺭뎣짳쫓닺튵랢햹쟷쫆ꎬ싊쿈헆컕믺믡ꎬ쳡퓧탐뚯펦뛔뇤뮯 25
뗚쯄헂 컊뻭짨볆벰럖컶랽램 릫쮾룼쟣쿲폚톡퓱뻟폐룟럧쿕ꆢ룟믘놨뗄쿮쒿 risk1 릫쮾쟣쿲폚닉좡듳떨뗄ꆢ톸쯙뗄탐뚯살듯떽쒿뇪 risk2 럧쿕돐떣 risk3 늻좷뚨탔쟩뿶뷸탐뻶닟쪱ꎬ릫쮾룼쟣쿲폚닉좡뷏캪듳떨믽벫첬뛈ꎬ틔헆컕잱퓚뗄믺믡 죽ꆢ뒴튵벨킧닢솿 ChandlerHanks놾컄뒴튵벨킧뇤솿뗄뛈솿닉폃뫍(1993)퇐뺿훐뗄컊뻭늢ퟷ쫊떱뗄탞룄뛸살ꎬ룃솿뇭퓚맺쓚췢톧헟퇐뺿훐놻틽폃뫜뛠듎ꎬ퓚늻춬쟩뺳쿂뚼믱뗃쇋뷏뫃뗄킧맻ꆣ뒴튵벨킧ퟷ캪뫢솿탂뒴웳튵뾪햹뒴튵믮뚯뗄킧싊ꎬ닢솿횸뇪훷튪듓뒴튵벨킧뗄돉뎤탔뫍믱샻탔솽랽쏦뷸탐짨볆ꆣ믱샻탔틠벴닆컱벨킧냼삨뺻쫕틦싊ꆢ춶쫕틦싊틔벰뺻쫕틦퓶뎤싊뗈ꎬ랴펳쇋릫쮾쫕틦쟩뿶ꎻ돉뎤탔냼삨쫐뎡럝뛮ꆢ쿺쫛ퟜ뛮뫍풱릤쫽솿퓶뎤싊ꎬ랴펳쇋릫쮾퓚쫐뎡삩헅뫍맦쒣랽쏦뗄쟩뿶ꆣ뻟쳥닢솿횸뇪죧뇭쯹쪾ꆣ 뇭 풴헻뫏쓜솦뗄닢솿횸뇪 뇠싫 캬뛈 컊쿮 perfor1 뺻쫕틦싊ꎨ뺻쫕틦/ퟜ쿺쫛뛮ꎩ룟 믱샻탔 perfor2 춶쫕틦싊듳 perfor3 뺻쫕틦퓶뎤쯙뛈뿬 perfor4 폫뺺헹뛔쫖쿠뇈ꎬ릫쮾쫐뎡럝뛮삩듳뛠 돉뎤탔 perfor5 폫뺺헹뛔쫖쿠뇈ꎬ릫쮾쿺쫛ퟜ뛮퓶뎤뿬 perfor6 폫뺺헹뛔쫖쿠뇈ꎬ릫쮾맘힢풱릤쫽솿뗄퓶뎤 뗚죽뷚 컊뻭짨볆폫쫽뻝쫕벯 컊뻭짨볆쫇뾪햹쪵횤퇐뺿뗄뗚튻늽ꆣ놾컄춨맽틔쿂벸룶늽훨췪돉쇋컊뻭짨볆릤ퟷꆣ쫗쿈ꎬ룹뻝퇐뺿뗄쓚죝ꎬ뷸탐돵늽뗷닩ꎬ뛔ퟔ톡뗄벸볒퓆쓏쪡탂뒴웳튵뷸탐쇋럃첸ꎬ짦벰떽풴헻뫏쓜솦ꆢ뒴튵떼쿲폫탂뒴웳튵벨킧뗈랽쏦컊쳢ꆣ웤듎ꎬ좷뚨컊뻭뗄탎쪽ꎬ놾퇐뺿닉폃샮뿋쳘웟뇪뛈듲럖램ꆣ틀ꆰ1-럇뎣늻춬틢ꎻ2-늻춬틢ꎻ3-폐킩늻춬틢ꎻ4-늻뫃쮵ꎻ5-폐킩춬틢ꎻ6-춬틢ꎻ7-럇뎣춬틢ꆱ뷸탐듲럖ꆣ퓙듎ꎬ뷸탐퇐뺿쒣탍뗄닢솿ꎬ냼삨뛔퇐뺿튪쯘뗄솿뇭뾪랢ꎬퟮ훕탎돉컊뻭ꆣ퓚닉26
뗚쯄헂 컊뻭짨볆벰럖컶랽램 폃뗄솿뇭랽쏦ꎬ잰튻뷚ퟷ쇋쿪쾸럖컶ꆣ퓚뷨본맺쓚췢틑쿠뛔돉쫬솿뇭뗄믹뒡짏ꎬ뷸탐쫊떱탞룄ꎬ늢뛔풴헻뫏쓜솦뷸탐쇋솿뇭뾪랢ꎬ쳥쿖뷏뛠뗄뒴탂탔ꆣퟮ뫳ꎬ뷸탐쫔뗷퇐ꎬ틔좷놣컊뻭컊쿮뗄틢쮼틗폚샭뷢ꆣ닉폃뛔퓆쓏벸쯹룟킣MBA톧풱벰ퟔ톡웳튵뷸탐뗷퇐살췪짆컊뻭ꆣ 놾퇐뺿닉좡랽뇣돩퇹랽램ꎬ쫗쿈뛔퓆쓏룟킣뗄MBA톧풱뫍튻킩ퟔ톡웳튵뷸탐쇋킡퇹놾쫽뻝쫕벯ꆣ퇩횤쇋솿뇭뗄탅뛈뫳뻍뷸탐쇋듳맦쒣컊뻭뗷닩ꆣ퇹놾살풴폚훷튪냼삨퓆쓏쪡룷룶훝쫐뗄룟탂벼쫵뾪랢쟸틔벰퓆쓏늿럖룟킣뗄MBA톧풱ꆣ춬쪱샻폃떼쪦뗄짧믡맘쾵췸싧ꎬ뺡솿쫕벯뛠뗄퇹놾쫽뻝ꆣퟜ릲랢럅쇋250럝컊뻭ꆣ믘쫕쇋215럝ꎬ컊뻭믘쫕싊캪86%ꎬ쳞돽컞킧컊뻭9럝ꎬ쪵볊쫕믘폐킧컊뻭206럝ꆣ폐킧싊캪82%ꆣ 뗚쯄뷚 쫽뻝럖컶랽램 놾퇐뺿톡폃춳볆럖컶죭볾뫍뛔쫕벯떽뗄쫽뻝뷸탐럖컶ꆣ룹뻝퇐뺿쒿뗄뫍볙짨ꎬ훷튪뷸탐쇋컊뻭뗄탅뛈뫍킧뛈럖컶ꎬ틲ퟓ럖컶뫍뷡릹랽돌쒣탍볬퇩ꆣ 솿뇭뗄탅뛈폫킧뛈쫇볬퇩퇐뺿훐쯹짨볆뗄맛닢뇤솿쓜럱헦쪵뗘랴펳웤쿠펦뗄잱뇤솿ꆣ탅뛈벴닢솿뗄뿉뾿탔ꎬ랴펳돶닢솿뷡맻뗄쓚늿튻훂탔믲컈뚨탔ꎬ튲쫇퇐뺿헟뛔쿠춬믲쿠쯆쿖쿳뷸탐늻춬뗄닢솿ꎬ웤쯹뗃뗄뷡맻튻훂뗄돌뛈ꆣ놾컄닉폃Cronbach Alphaퟷ캪뇤솿탅뛈뗄닢솿횸뇪ꆣ튻냣퇐뺿훐좡Cronbach Alpha>캪뇪ힼꆣ퓚첽쯷탔럖컶훐ퟮ뗍뷓쫜뗄Cronbach Alpha>ꆣ킧뛈벴폐킧탔ꎬ쯼쫇횸닢솿릤뻟믲랽램쓜릻ힼ좷닢돶닢솿쫂컯뗄돌뛈ꆣ킧뛈벴쯹닢솿떽뗄뷡맻쓜헦헽랴펳쯹쿫튪퇐뺿쓚죝뗄돌뛈ꎬ킧뛈풽룟틢캶ퟅ닢솿뗄뷡맻랴펳돶닢솿뛔쿳뗄쳘헷돌뛈룟ꆣ킧뛈럖캪뇭쏦킧뛈ꆢ쪵폃킧뛈뫍붨릹킧뛈ꎬ웤훐붨릹킧뛈냼몬뗄쓚죝룼캪뢴퓓ꆣ떱잰뗄퇐뺿ꎬ훷튪뛔붨릹킧뛈뷸탐럖컶ꆣ뛸붨릹킧뛈냼몬쫕솲킧뛈뫍쟸뇰킧뛈ꎬ퇐뺿훐뿉듓틲ퟓ럖컶쯹뗃돶뗄퓘뫉솿에뛏쫕솲킧뛈폫쟸뇰킧뛈ꆣ 뷡릹랽돌쒣탍쫇짧믡뿆톧퇐뺿훐뗄튻룶럇뎣뫃뗄춳볆럖컶랽램ꆣ룃랽램퓚20쫀볍80쓪듺뻍틑뺭돉쫬ꆣ뷡릹랽돌쒣탍톸쯙랢햹ꎬ쏖늹쇋뒫춳춳볆랽램뗄늻ퟣꆣ쯼볈뿉퇐뺿뿉맛닢뇤솿ꎬ폖뿉퇐뺿늻쓜횱뷓맛닢뗄잱뇤솿ꎻ쯼늻뷶쓜퇐뺿뇤솿볤뗄횱뷓ퟷ폃ꎬ뮹뿉퇐뺿뇤솿볤뗄볤뷓ퟷ폃ꎬ춨맽슷뺶춼횱맛뗘쿔쪾뇤솿볤뗄맘쾵ꎻ춨맽뷡릹랽돌쒣탍퇐뺿헟뿉릹붨돶잱뇤솿볤뗄맘쾵ꎬ늢퇩횤헢훖뷡릹맘쾵27
뗚쯄헂 컊뻭짨볆벰럖컶랽램 쫇럱뫏샭ꆣ뷡릹랽돌쒣탍뿉틔춨맽캪쓑틔횱뷓닢솿뗄잱뇤솿짨뚨맛닢뇤솿ꎬ폃헢킩뿉틔폃폚춳볆럖컶뗄맛닢뇤솿횮볤뗄맘쾵살퇐뺿잱뇤솿횮볤뗄맘쾵ꆣ틲듋SEM뗄훷튪폅뗣퓚폚ꎺ뗚튻ꎬ쯼뿉틔뛠닣듎뗄햹쿖쟽뚯솦럖컶ꆣ헢훖틲맻맘쾵뗄햹쪾룼볓럻뫏죋샠쮼캬쾰맟ꎬ뛸헢헽쫇뒫춳믘맩럖컶컞램ퟶ떽뗄ꆣSEM룹뻝늻춬쫴탔뗄돩쿳돌뛈붫쫴탔럖돉뛠닣뷸탐럖컶ꆣ뗚뛾ꎬSEM럖컶뿉틔붫컞램횱뷓닢솿뗄쫴탔쓉죫럖컶ꎬ뇈랽쮵쿻럑헟훒돏뛈ꆣ헢퇹뻍뿉틔붫쫽뻝럖컶뗄랶캧볓듳ꎬ폈웤쫊뫏튻킩뇈뷏돩쿳뗄맩쓉탔뗄쫴탔ꆣ뗚죽ꎬSEM럖컶뿉틔붫룷쫴탔횮볤뗄틲맻맘쾵솿뮯ꎬ쪹쯼쏇쓜퓚춬튻룶닣쏦뷸탐뛔뇈ꎬ춬쪱튲뿉틔쪹폃춬튻룶쒣탍뛔룷쾸럖쫐뎡믲룷뺺헹뛔쫖뷸탐뇈뷏ꆣ 28
뗚컥헂 뷡릹랽돌쒣탍움볛럖컶폫뷡맻 뗚컥헂₽릷붳쳄ꏐ췆삼?훎ﬠ뗚튻뷚 퇹놾쳘헷 듓ퟜ쳥짏살뾴ꎬ놾퇐뺿뺡맜닉좡쇋럇쯦믺돩퇹ꎬ떫춨맽뛔뗷퇐릫쮾뗄즸톡ꎬ쇴쿂살뗄206럝퇹놾뻟폐맣랺뗄탐튵듺뇭탔ꎬ퇹놾뗄웤쯼쳘헷튲럻뫏놾퇐뺿뗄튪쟳ꆣ뻝듋ꎬ룃퇹놾뻟폐뷏뫃뗄듺뇭탔ꆣ 놾컄톡좡쇋탂뒴웳튵돉솢뗄웳튵탔훊ꆢ쯹쫴탐튵ꆢ힢닡놾ꆢ틔벰뒴튵뚯믺살뷸탐쏨쫶탔럖컶ꆣ뇭5-1떽뇭5-5럖뇰룸돶쇋럖컶뷡맻ꆣ웤훐릫쮾탔훊춳볆럖컶훐ꎬ탐튵탔훊짏ꎬ%뗄뒴튵쿮쒿쫴폚룟탂벼쫵탐튵ꎬ%뗄톡퓱쇋뒫춳탐튵ꎻ힢닡놾훐ꎬ%뗄쫇10췲풪틔쿂ꎬ%뗄쫇11떽30췲ꎬ15%뗄쫇31떽50췲ꎬ%뗄쫇51떽100췲ꎬ%뗄쫇100췲떽500췲ꎬ%뗄500췲틔짏ꎻ뒴튵뚯믺랽쏦ꎬ%뗄뒴튵헟쫇캪쇋잮ꎬ%뗄죋쫇캪쇋믱좡짧믡뗘캻ꎬ%뗄죋쫇랢쿖쇋쫐뎡믺믡ꎬ늻쾲뮶캪쯻죋릤ퟷ뗄햼%ꎻ%뗄뒴튵헟ퟮ돵톡퓱쇋뫏믯훆웳튵뗄탎쪽ꎬ%뗄뒴튵헟톡퓱쇋룶죋뛀웳튵랽쪽ꎬ%뗄뒴튵헟돉솢쇋릫쮾훆웳튵ꎻ 뇭 쯹쫴탐튵샠탍 욵듎 냙럖뇈 룟탂벼쫵탐튵 89 뒫춳탐튵 117 뫏볆 206 100 뇭 힢닡뷰 욵듎 냙럖뇈 10췲풪틔쿂 41 11떽30췲 44 31떽50췲 31 51떽100췲 55 101췲떽500췲 23 500췲틔짏 12 뫏볆 206 29
뗚컥헂 뷡릹랽돌쒣탍움볛럖컶폫뷡맻 뇭 뒴튵뚯믺 욵듎 냙럖뇈 잮 56 쳡짽짧믡뗘캻 44 늻쾲뮶캪쯻죋릤ퟷ 40 랢쿖쫐뎡믺믡 43 볒춥뒫춳 13 웤쯻 10 뫏볆 206 뇭 웳튵탔훊 욵듎 냙럖뇈 룶죋뛀 64 뫏믯훆웳튵 102 릫쮾훆웳튵 40 뫏볆 206 뗚뛾뷚 뷡릹랽돌쒣탍럖컶쫽뻝볬퇩 퓚뷸탐뷡릹랽돌쒣탍럖컶횮잰ꎬ튪뾼싇쯹쫕벯뗄퇹놾쫽뻝쫇럱췪헻ꆢ헽좷뛸폐킧ꎬ틲듋뮹탨튪뷸탐튻킩뇘튪뗄볬퇩ꆣ놾컄훷튪듓뛾룶랽쏦뷸탐볬퇩ꎺ쫽뻝좱쪧쟩뿶뫍쫽뻝헽첬럖늼볬퇩ꆣ 튻ꆢ좱쪧횵뒦샭 퓚AMOS뷸탐럖컶횮잰ꎬ믡쿈붫쫤죫뗄풭쪼쫽뻝뮻캪킭랽닮뻘헳ꆣ죧맻풭쪼쫽뻝훐좱쪧횵듦퓚뛸늻ퟶ쫊떱뒦샭뗄뮰ꎬ뻍뿉쓜닺짺럇헽뚨뻘헳뗄컊쳢ꆣ놾컄쫗쿈붫퇹놾훐좱쪧쫽뻝맽뗄뷸탐쳞돽ꎬ쪣폠컊뻭훐뷶폐6럝듦퓚킡솿쫽뻝좱쪧ꆣ뛔몬좱쪧횵뗄퇹놾ꎬ놾컄닉폃뛔헢튻컊쿮틑쳮듰헟쫽횵뗄욽뻹쫽살좡듺좱쪧횵ꆣ뾼싇놾컄뗄퇹놾쫽뻝훐헻쳥좱쪧횵늻뛠ꎬ틲듋폃쫽쇐욽뻹쫽살좡듺늻믡뛔퇹놾뗄헻쳥쳘헷퓬돉첫듳뗄펰쿬ꆣ 30
뗚컥헂 뷡릹랽돌쒣탍움볛럖컶폫뷡맻 뛾ꆢ쫽뻝헽첬럖늼볬퇩 AMOS쫇틔벫듳쯆좻램믲ퟮ킡욽랽램살뷸탐볙짨볬퇩뫍쟸볤췆뚨뗈ꆣ컒쏇튪뛔맛달뇤솿뷸탐헽첬탔볬퇩ꆣ뇤솿캥랴헽첬탔럖늼쪱ꎬ컒쏇펦쿈볬닩쫽뻝퇹놾훐폐컞틬뎣횵듦퓚ꆣ퓚뛔떥뇤솿뷸탐헽첬탔볬퇩쪱ꎬ튻냣춨맽뾼달뇤솿뗄욫뛈(Skewness)뫍럥뛈(Kurtosis)ꆣ떱.>2쪱ꎬ낵쪾폐킩떥뇤솿뿉쓜뻟폐틬뎣횵ꎻ떱.>쪱ꎬ벴뇭쪾폐킩떥뇤솿캥랴쇋헽첬탔럖늼뗄볙짨 (쟱헾ꎬ2003)ꆣ떫쫇쫽뻝뗄뛠풪헽첬럖늼볙짨첫맽폚퇏룱ꎬ뛸퓚쪵볊퇐뺿짨볆훐쯹쪹폃뗄쫽뻝쇏듳뛠쫇뛠풪럇헽첬럖늼ꆣKline(1998)죏캪쫽뻝떥뇤솿뗄럇헽첬탔늻퇏훘쪱ꎬ뿉틔닉폃ퟮ듳쯆좻램쓢뫏뷡릹랽돌쒣탍ꆣ놾컄춨맽뾼달뇤솿욫뛈뫍럥뛈살볬퇩뇤솿뗄헽첬럖늼ꆣ럖컶죧맻죧춼쯹쪾ꆣ춼훐뗄춳볆솿뮹냼삨뇤솿뗄벫킡횵ꆢ벫듳횵ꆣ 춼 뇤솿뗄헽첬탔볬퇩 31
뗚컥헂 뷡릹랽돌쒣탍움볛럖컶폫뷡맻 듓춼뿉틔뾴돶ꎬ뛠뇤솿뗄럥뛈쾵쫽캪ꎬ횵캪ꆣ헢쮵쏷퇹놾뗄뇤솿춨맽헽첬탔볬퇩ꆣ틲듋쫽뻝뿉틔폃폚뷡릹랽돌쒣탍ꆣ 뗚죽뷚 솿뇭뗄탅뛈뫍킧뛈럖컶 탅뛈럖컶폃살볬퇩뇤솿닢솿뗄쓚늿튻훂탔돌뛈ꎬ샮뮳ퟦꎨ2004ꎩ횸돶Cronbach Alpha >뇭쏷쓚늿튻훂탔뷏룟ꎬ컊뻭뗄뗷퇐돌뛈뷏룟ꆣ죙첩짺ꎨ2009ꎩ죏캪Cronbach Alpha 횵듳폚뗈폚쪱ꎬ쫴폚룟탅뛈ꎻAlpha 횵킡폚ꎬ쟒듳폚뗈폚쪱ꎬ쫴폚짐뿉ꎻAlpha 횵킡폚퓲캪뗍탅뛈ꆣ놾컄닉폃Alpha 횵ퟷ캪닢쫔탅뛈뗄뇪ힼꆣ 놾컄퇐뺿뇤솿뗄뛈솿횸뇪쫇퓚맺쓚췢돉쫬뗄솿뇭믹뒡짏뷸탐탞룄뛸살뗄ꎬ컊뻭뗄쓚죝킧뛈듯떽쇋퇐뺿뗄튪쟳ꆣ틲듋놾컄훷튪볬퇩솿뇭뗄뷡릹킧뛈ꆣ뛔룃킧뛈뗄볬퇩튻냣닉폃틲ퟓ럖컶랽램훐뗄훷돉럝럖컶램ꎬ춨맽ퟮ듳뇤틬횱붻탽틲ퟓꎬ늢내헕틲ퟓ쳘헷횵듳폚1틔벰룷룶컊쿮퓘뫉솿횻퓚떥룶틲ퟓ샯듳폚뗄뇪ힼ살?좡틲ퟓꆣ뷡릹킧뛈폖럖캪쫕솲킧뛈뫍쟸뇰킧뛈ꎬ뿉닉폃틲ퟓ럖컶뗄퓘뫉솿살에뛏쫕솲킧뛈폫쟸뇰킧뛈ꆣ컊쿮퓘뫉솿듳폚뗄뚼맩뷡돉튻룶틲ퟓꆣ퓚춬튻틲ퟓ샯ꎬ웤쯹뛔펦뗄컊쿮뗄틲ퟓ퓘뫉솿뻹듳폚ꎬ뻍뿉죏캪듋뇤솿뗄쫕솲킧뛈뫃ꆣ뛸퓚뛔쟸뇰킧뛈뗄볬퇩랽쏦ꎬ룃쳢쿮퓚웤쯹쫴뗄틲ퟓ훐ꎬ웤틲ퟓ퓘뫉솿튪듳폚ꎬ뛸퓚웤쯼틲ퟓ짏웤퓘뫉쾵쫽킡폚ꆣ 튻ꆢ풴헻뫏쓜솦솿뇭뗄탅뛈뫍킧뛈럖컶 뇭캪풴헻뫏쓜솦캬뛈솿뇭Alpha쾵쫽탅뛈볬퇩뷡맻ꆣ듓뇭훐뿉틔뾴돶ꎬ솽룶솿뇭뗄Alpha횵볬퇩뻹듳폚ꎬ쓚늿튻훂탔돌뛈뷏룟ꎬ쫴폚룟탅뛈솿뇭ꎬ럻뫏튪쟳ꆣ 뇭 풴헻뫏쓜솦솿뇭Alpha쾵쫽탅뛈볬퇩 Cronbach's AlphaN of Items 풴릹붨쓜솦 풴샻폃쓜솦 4 죧춼쯹쪾ꎬ퇹놾돤럖탔KMO횵캪ꎬ퇹놾럖늼뗄Baetleett쟲쳥볬퇩뗄뾨랽횵캪쟒쿔훸탔쮮욽킡폚ꎬ헢뇭쏷솿뇭쫽뻝쫊뫏ퟷ틲ퟓ럖컶ꆣ듓춼뿉틔뾴돶풴헻뫏쓜솦쫊뫏?좡솽룶틲ퟓꎬ횻폐솽룶틲ퟓ뗄쳘헷횵듳폚32
뗚컥헂 뷡릹랽돌쒣탍움볛럖컶폫뷡맻 1ꎬ랽닮뷢쫍솿듯떽%ꆣ평춼뿉틔뾴돶ꎬ풴헻뫏쓜솦캬뛈솿뇭뗄틲ퟓ럖컶튻릲뿉틔쳡좡돶솽룶훷틲ퟓꆣ뗚튻훷틲ퟓ뛔펦뗄컊쿮캪rebui1ꆢrebui2ꆢrebui3뫍rebui4ꆣ헢4룶컊쿮뗄틲쯘퓘뫉솿뻹듳폚ꎻ뗚뛾훷틲ퟓ뛔펦뗄컊쿮캪resuse1ꆢresuse2ꆢresuse3뫍resuse4ꆣ헢4룶컊쿮뗄틲쯘퓘뫉뻹듳폚ꎻ뛔폚솽룶훷틲ퟓꎬ웤쯹쫴컊쿮뗄틲쯘퓘뫉솿뚼듳폚ꎬ퓲뿉죏캪풴헻뫏쓜솦캬뛈솿뇭뗄쫕솲킧뛈병ꎻ춬쪱쎿튻컊쿮퓚웤쯹쫴뗄훷틲ퟓ훐ꎬ웤틲쯘퓘뫉솿듳폚ꎬ뛸퓚웤쯼틲ퟓ샯웤퓘뫉횵뫜짙ꎬ퓲뿉죏캪뒴퓬솦캬뛈솿뇭뗄쟸뇰킧뛈병ꆣퟛ짏뿉죏캪풴헻뫏쓜솦캬뛈솿뇭뗄붨릹킧뛈병ꆣ헢튲쮵쏷놾컄붫풴헻뫏쓜솦뮮럖캪풴릹붨쓜솦폫풴샻폃쓜솦솽룶캬뛈쫇뿉닉폃뗄ꆣ룹뻝컊쿮쓚죝붫틲ퟓ1쏼쏻캪풴릹붨쓜솦ꎬ붫틲ퟓ2쏼쏻캪풴샻폃쓜솦ꆣ룷틲쯘퓘뫉솿뚼퓚틔짏ꎬ틲쯘뷡릹뇈뷏샭쿫ꆣ 춼 KMO and Bartlett’s Test 춼 Total Variance Explained 33
뗚컥헂 뷡릹랽돌쒣탍움볛럖컶폫뷡맻 춼 풴헻뫏쓜솦캬뛈솿뇭틲ퟓ럖컶훡뫳뗄돉럖뻘헳 뛾ꆢ뒴튵떼쿲솿뇭뗄탅뛈뫍킧뛈럖컶 뇭캪뒴튵떼쿲솿뇭Alpha쾵쫽탅뛈볬퇩뷡맻ꆣ뿉틔뾴돶ꎬ뒴튵떼쿲솿뇭Alpha쾵쫽듳폚ꎬ탅뛈뷏뫃ꆣ 뇭 뒴튵떼쿲솿뇭Alpha쾵쫽탅뛈볬퇩 Cronbach's Alpha N of Items 뒴탂탔쿈탐탔 3 럧쿕돐떣 죧춼쯹쪾ꎬ퇹놾돤럖탔KMO횵캪ꎬ퇹놾럖늼뗄Baetleett쟲쳥볬퇩뗄뾨랽횵캪쟒쿔훸탔쮮욽킡폚ꎬ헢뇭쏷솿뇭쫽뻝쫊뫏ퟷ틲ퟓ럖컶ꆣ듓춼뿉틔뾴돶뒴튵떼쿲쫊뫏?좡죽룶틲ퟓꎬ횻폐죽룶틲ퟓ뗄쳘헷횵듳폚1ꎬ랽닮뷢쫍솿듯떽%ꆣ평춼뿉틔뾴돶ꎬ뒴튵떼쿲캬뛈솿뇭뗄틲ퟓ럖컶튻릲뿉틔쳡좡돶죽룶훷틲ퟓꆣ뗚튻훷틲ퟓ뛔펦뗄컊쿮캪inn1ꆢinn2뫍inn3ꎬ헢3룶컊쿮뗄틲쯘퓘뫉솿뻹듳폚ꎻ뗚뛾훷틲ퟓ뛔펦뗄컊쿮캪pro1ꆢpro2뫍pro3ꆣ헢3룶컊쿮뗄틲쯘퓘뫉뻹듳폚ꎻ뗚죽훷틲ퟓ뛔펦뗄컊쿮캪risk1ꆢrisk2뫍risk3ꆣ헢3룶컊쿮뗄틲쯘퓘뫉뻹듳폚ꆣ뛔폚죽룶훷틲ퟓꎬ웤쯹쫴컊쿮뗄틲쯘퓘뫉솿뚼듳폚ꎬ퓲뿉죏캪풴헻뫏쓜솦캬뛈솿뇭뗄쫕솲킧뛈병ꎻ춬쪱쎿튻컊쿮퓚웤34
뗚컥헂 뷡릹랽돌쒣탍움볛럖컶폫뷡맻 쯹쫴뗄훷틲ퟓ훐ꎬ웤틲쯘퓘뫉솿듳폚ꎬ뛸퓚웤쯼틲ퟓ샯웤퓘뫉횵뫜짙ꎬ퓲뿉죏캪뒴튵떼쿲캬뛈솿뇭뗄쟸뇰킧뛈병ꆣퟛ짏뿉죏캪뒴튵떼쿲캬뛈솿뇭뗄붨릹킧뛈병ꆣ헢튲쮵쏷놾컄붫뒴튵떼쿲뮮럖캪뒴탂탔ꆢ쿈탐탔폫럧쿕돐떣죽룶캬뛈쫇뿉닉폃뗄ꆣ룹뻝컊쿮쓚죝붫틲ퟓ1쏼쏻캪뒴탂탔ꎬ붫틲ퟓ2쏼쏻캪쿈탐탔ꆣ붫틲ퟓ3쏼쏻캪럧쿕돐떣ꆣ룷틲쯘퓘뫉솿뚼퓚틔짏ꎬ틲쯘뷡릹뇈뷏샭쿫ꆣ 춼 KMO and Bartlett’s Test 춼 Total Variance Explained 춼 뒴튵떼쿲솿뇭틲ퟓ럖컶훡뫳뗄돉럖뻘헳 35
뗚컥헂 뷡릹랽돌쒣탍움볛럖컶폫뷡맻 죽ꆢ뒴튵벨킧솿뇭뗄탅뛈뫍킧뛈럖컶 뇭캪뒴튵벨킧솿뇭Alpha쾵쫽탅뛈볬퇩뷡맻ꆣ뿉틔뾴돶ꎬ솽룶솿뇭뗄Alpha 횵볬퇩뻹듳폚ꎬ쫴폚룟탅뛈솿뇭ꆣ 뇭 뒴튵벨킧솿뇭Alpha쾵쫽탅뛈볬퇩 Cronbach's Alpha N of Items 믱샻탔돉뎤탔뛔뒴튵벨킧뷸탐틲ퟓ럖컶ꎬ뷡맻쿔쪾ꎺ퇹놾돤럖탔KMO쾵쫽캪ꎬ퇹놾럖늼뗄쟲탍Bartlett뾨랽볬퇩횵캪ꎬ듯떽쇋쿔훸탔쮮욽ꎬ뿉틔뛔닢솿쫽뻝뷸탐틲ퟓ럖컶ꆣ떫횵뗃힢틢뗄쫇ꎬ뒴튵벨킧횻쫊뫏?좡튻룶틲ퟓꎬ뛸늻쫇풤웚뗄솽룶캬뛈ꆣ헢쮵쏷뿉틔붫뒴튵벨킧뗄믱샻탔폫돉뎤탔뫏늢캪튻룶캬뛈ꎬ헽죧ퟛ쫶훐쯹쫶쓇퇹ꎬ믱샻탔폫돉뎤탔뻟폐룟뛈쿠맘탔ꎬ뿉틔뫏늢돉튻룶캬뛈볓틔퇐뺿ꆣ듓춼뿉틔뾴돶ꎬ틲ퟓ럖컶뗄뷡맻쿔쪾쫊뫏쳡좡튻룶틲ퟓꎬ랽닮뷢쫍뛈듯떽%ꎬ퓙뛔뒴튵벨킧쯹폐컊쿮ퟷ탅뛈럖컶ꎬ룃틲ퟓ뗄Cronbach’s a횵캪ꎬ쮵쏷웤폐킧탔럻뫏튪쟳ꎬ쓚늿튻훂탔뷏룟ꆣ 춼 KMO and Bartlett’s Test 춼 Total Variance Explained 36
뗚컥헂 뷡릹랽돌쒣탍움볛럖컶폫뷡맻 춼 뒴튵벨킧떥틲ퟓ탅뛈럖컶 퓚췪돉첽쯷탔럖ퟓ럖컶뫳ꎬ놾컄뛔죽룶뇤솿뷸탐쇋잿훆탔틲ퟓ럖컶ꎬ뇭쫇놾컄쯹ퟷ뗄잿훆탔틲ퟓ럖컶뗄뷡맻ꆣ뷡맻쿔쪾쯹닢뚨뇤솿뗄틲ퟓ퓘뫉뚼듳폚ꆣ헢쮵쏷컊뻭뗄킧뛈뷏뫃ꎬ뿉틔뷸탐뷡릹랽돌쒣탍볬퇩ꆣ 뇭 뇤솿닢솿횸뇪틲ퟓ퓘뫉횵 뇤솿 뛈솿횸뇪 틲ퟓ퓘뫉 풴헻뫏쓜솦resbui1 resbui2 resbui3 resbui4 resuse1 resuse2 resuse3 resuse4 뒴튵떼쿲inn1 inn2 inn3 pro1 pro2 pro3 risk1 risk2 risk3 뒴튵벨킧perfor1 perfor2 perfor3 37
뗚컥헂 뷡릹랽돌쒣탍움볛럖컶폫뷡맻 perfor4 perfor5 perfor6 뗚쯄뷚 뷡릹랽돌쒣탍움볛벰탞헽 튻ꆢ쒣탍짨뚨 룹뻝잰쏦뗄샭싛ꎬ뛔풴헻뫏쓜솦ꆢ뒴튵떼쿲폫뒴튵벨킧맘쾵뗄럖컶퇐뺿살릹붨쒣탍ꎬ짨뚨죧쿂뷡릹랽돌쒣탍ꎬ뛔짏쫶죽헟맘쾵뷸탐볬퇩ꆣ슷뺶춼죧쿂ꎺ 춼 뷡릹랽돌슷뺶춼 뛾ꆢ쒣탍헻쳥쓢뫏킧맻볬퇩 1ꆢ쒣탍쓢뫏춳볆솿럖컶 뷡릹랽돌쒣탍뗄쓢뫏뛈움맀훷튪폐죽샠횸뇪ꎺ뻸뛔쓢뫏횸뇪ꆢ퓶횵쓢뫏횸뇪뫍뺫볲쓢뫏횸뇪ꆣ놾컄듓훐톡좡벸룶릫죏뗄뫍컈뚨탔뫃뗄횸뇪살뷸탐움볛럖컶ꆣ 22ꎨ1ꎩ뾨랽횵X뫍P횵ꆣX=(n-1)F,웤훐F쫇쓢뫏몯쫽ꆣP쫇횸쿔훸탔ꎬ샻폃닮틬횵폫ퟔ평뛈쯹볆쯣돶뗄룅싊횵ꆣ쿔훸탔듳폚ꎬ벴뿉죏뚨룃쒣탍폫쫽뻝38
뗚컥헂 뷡릹랽돌쒣탍움볛럖컶폫뷡맻 쓢뫏쫊뛈ꆣ웤훐뿉맛달뾨랽횵폫ퟔ평뛈뗄뇈횵ꎬ춨뎣펦룃퓚1-3횮볤ꎬ풽뷓뷼1뇭쏷쒣탍폫쫽뻝쓢뫏돌뛈룼룟ꆣ ꎨ2ꎩGFI(goodness of fit index)ꆣGFI폃살닢뚨맛닢뇤솿뗄랽닮뗄킭랽닮뻘헳붫퓚뛠듳돌뛈짏놻쒣탍뗄뚨틥뗄랽닮뗄킭랽닮뻘헳쯹풤닢ꆣGFI풽뷓뷼1뇭쏷쒣탍쫊뫏뛈풽뫃ꆣ춨뎣닉폃GFI>ꆣ ꎨ3ꎩRMR(root mean square residual)ꆣRMR풽뷓뷼0뇭쏷쒣탍쓢뫏뛈풽뫃ꎬ춨뎣닉폃RMR<ꆣ ꎨ4ꎩRMSEAꆣRMSEA쫇횸욽뻹욽랽컳닮욽랽룹ꎬ웤볆쯣릫쪽쫇ꎺퟜ쳥닮틬/ퟔ평뛈ꆣ듋릫쪽뿉탞헽ퟜ쳥닮틬쫜떽맀볆닎쫽횵펰쿬뗄좱뗣ꆣRMSEA<쪱ꎬ뿉틔에뚨쒣탍쓢뫏뛈뫃ꆣ 쇭췢톧헟쏇뷏뎣쪹폃뗄웤쯼닢솿횸뇪뮹냼삨NFI(normed fit index)ꆢTFI뫍CFI(comparative fit index)ꆣ헢솽룶횸뇪에뛏뗄ힼ퓲뚼쫇풽뷓뷼1뇭쪾쒣탍쫊뫏뛈풽뫃ꆣ뇭쿔쪾쇋쒣탍쓢뫏ퟜ쳥닎쫽ꎬ틀헕짏쏦뗄에뛏뇪ힼꎬ뿉틔뗃돶ꎬ쒣탍쫇뿉틔鞸쫜뗄ꆣ 뇭 쒣탍쓢뫏ퟜ쳥닎쫽 쓢뫏횸뇪 횸뇪횵쓢뫏쟩뿶 쓢뫏폅뛈뾨랽볬퇩 ퟔ평뛈Degree of Freedom207 뻸뛔쓢뫏횸쫽P 듳폚ꎬ럻뫏튪쟳 쓢뫏폅뛈횸쫽GFI 듳폚ꎬ쟒뷓뷼폚1ꎬ럇뎣뫃 2X/df 뷩폚1ꆪ3횮볤ꎬ럇뎣뫃 뷼쯆컳닮뻹랽룹RMSEA 킡폚ꎬ럇뎣뫃 럇헽첬뮯쓢뫏횸쫽TLI 듳폚ꎬ럇뎣뫃 뇪ힼ쓢뫏횸쫽NFI 듳폚ꎬ럇뎣뫃 쿠뛔쓢뫏횸쫽CFI 듳폚ꎬ럇뎣뫃 39
뗚컥헂 뷡릹랽돌쒣탍움볛럖컶폫뷡맻 2ꆢ쒣탍볙짨볬퇩뷡맻 볙짨볬퇩죧뇭쯹쪾ꎬ11쳵볙짨훐폐7쳵믱뗃춨맽ꎬ4쳵캴믱뗃횧돖ꆣ 뇭 볙짨볬퇩춨맽뗄ퟜ쳥쟩뿶 뇪ힼ믘 볬퇩 볙짨 쓚죝 P횵/sig 맩쾵쫽 뷡맻 H1 풴릹붨쓜솦풽잿퓲뒴탂탔풽잿 *** 횧돖 H2 풴릹붨쓜솦풽잿퓲쿈탐탔풽잿 *** 횧돖 H3 풴릹붨쓜솦풽잿퓲럧쿕돐떣풽잿 *** 횧돖 H4 풴릹붨쓜솦폫뒴튵벨킧폐ퟅ헽쿠맘맘쾵 늻횧돖 H5 풴샻폃쓜솦풽잿퓲뒴탂탔풽잿 늻횧돖 H6 풴샻폃쓜솦풽잿퓲쿈탐탔풽잿 횧돖 H7 풴샻폃쓜솦풽잿퓲럧쿕돐떣풽잿 늻횧돖 H8 풴샻폃쓜솦폫뒴튵벨킧폐ퟅ헽쿠맘맘쾵 횧돖 H9 뒴탂탔폫뒴튵벨킧횮볤폐ퟅ헽쿠맘맘쾵ꆣ 횧돖 H10 쿈탐탔폫뒴튵벨킧횮볤폐ퟅ헽쿠맘맘쾵ꆣ 횧돖 H11 럧쿕돐떣폫뒴튵벨킧횮볤폐ퟅ헽쿠맘맘쾵ꆣ 늻횧돖 뇭룸돶쇋쒣탍뗄슷뺶쾵쫽횵벴뇪ힼ믘맩쾵쫽틔벰웤쿠펦뗄CR볬퇩p횵ꎬ럖컶뷡맻쿔쪾뷡릹쒣탍뗄슷뺶쾵쫽듳늿럖춨맽쇋볬퇩ꎬ믱뗃횧돖ꆣ 볙짨H1쳖싛뗄쫇풴릹붨쓜솦폫뒴튵떼쿲햽싔훐뒴탂탔뗄맘쾵ꆣ볙짨쓚죝캪ꆰ풴릹붨쓜솦풽잿퓲뒴탂탔풽잿ꆱꎬ볬퇩뷡맻뇭쏷ꎬ뛾헟쿠맘쾵쫽캪ꎬp<,틲듋볙짨H1춨맽볬퇩ꆣ헢폫풤웚쳡돶뗄뷡맻쫇튻훂뗄ꆣ 볙짨H2쳖싛뗄쫇풴릹붨쓜솦폫뒴튵떼쿲햽싔훐쿈탐탔뗄맘쾵ꆣ볙짨쓚죝캪ꆰ풴릹붨쓜솦풽잿퓲쿈탐탔풽잿ꆱ,볬퇩뷡맻뇭쏷ꎬ뛾헟쿠맘쾵쫽캪ꎬp<,틲듋볙짨H2춨맽볬퇩ꆣ헢폫풤웚쳡돶뗄뷡맻쫇튻훂뗄ꆣ 볙짨H3쳖싛뗄쫇풴릹붨쓜솦폫뒴튵떼쿲햽싔훐럧쿕돐떣뗄맘쾵ꆣ볙짨쓚죝캪ꆰ풴릹붨쓜솦풽잿퓲럧쿕돐떣풽잿ꆱꎬ볬퇩뷡맻뇭쏷ꎬ뛾헟쿠맘쾵쫽캪ꎬp<,틲듋볙짨H3춨맽볬퇩ꆣ헢폫풤웚쳡돶뗄뷡맻쫇튻훂뗄ꆣ 볙짨H4쳖싛뗄쫇풴릹붨쓜솦폫뒴튵벨킧뗄맘쾵ꆣ볙짨쓚죝캪ꆰ풴릹붨쓜솦폫뒴튵벨킧폐ퟅ헽쿠맘맘쾵ꆱꎬ볬퇩뷡맻뇭쏷ꎬ뛾헟쿠맘쾵쫽캪ꎬp=>,틲듋볙짨H4캴쓜믱뗃횧돖ꆣ헢폫풤웚쳡돶뗄뷡맻쫇늻튻훂뗄ꆣ 40
뗚컥헂 뷡릹랽돌쒣탍움볛럖컶폫뷡맻 볙짨H5쳖싛뗄쫇풴샻폃쓜솦폫뒴튵떼쿲햽싔훐뒴탂탔뗄맘쾵ꆣ볙짨쓚죝캪ꆰ풴샻폃쓜솦풽잿퓲뒴탂탔풽잿ꆱꎬ볬퇩뷡맻뇭쏷ꎬ뛾헟쿠맘쾵쫽캪ꎬp=>,틲듋볙짨H5캴쓜춨맽볬퇩ꆣ헢폫풤웚쳡돶뗄뷡맻쫇늻튻훂뗄ꆣ 볙짨H6쳖싛뗄쫇풴샻폃쓜솦폫뒴튵떼쿲햽싔훐쿈탐탔뗄맘쾵ꆣ볙짨쓚죝캪ꆰ풴샻폃쓜솦풽잿퓲쿈탐탔풽잿ꆱꎬ볬퇩뷡맻뇭쏷ꎬ뛾헟쿠맘쾵쫽캪ꎬp=,틲듋볙짨H6춨맽볬퇩ꆣ헢폫풤웚쳡돶뗄뷡맻쫇튻훂뗄ꆣ 볙짨H7쳖싛뗄쫇풴샻폃쓜솦폫뒴튵떼쿲햽싔훐럧쿕돐떣뗄맘쾵ꆣ볙짨쓚죝캪ꆰ풴샻폃쓜솦풽잿퓲럧쿕돐떣풽잿ꆱꎬ볬퇩뷡맻뇭쏷ꎬ뛾헟쿠맘쾵쫽캪ꎬp=>,틲듋볙짨H7캴쓜춨맽볬퇩ꆣ헢폫풤웚쳡돶뗄뷡맻쫇늻튻훂뗄ꆣ 볙짨H8쳖싛뗄쫇풴릹붨쓜솦폫뒴튵떼쿲햽싔훐뒴탂탔뗄맘쾵ꆣ볙짨쓚죝캪ꆰ풴샻폃쓜솦폫뒴튵벨킧폐ퟅ헽쿠맘맘쾵ꆱꎬ볬퇩뷡맻뇭쏷ꎬ뛾헟쿠맘쾵쫽캪ꎬp=,틲듋볙짨H8춨맽볬퇩ꆣ헢폫풤웚쳡돶뗄뷡맻쫇튻훂뗄ꆣ 볙짨H9쳖싛뗄쫇뒴탂탔폫뒴튵벨킧뗄맘쾵ꆣ볙짨쓚죝캪ꆰ뒴탂탔폫뒴튵벨킧횮볤폐ퟅ헽쿠맘맘쾵ꆱꎬ볬퇩뷡맻뇭쏷ꎬ뛾헟쿠맘쾵쫽캪ꎬp=,틲듋볙짨H9춨맽볬퇩ꆣ헢폫풤웚쳡돶뗄뷡맻쫇튻훂뗄ꆣ 볙짨H10쳖싛뗄쫇쿈탐탔폫뒴튵벨킧뗄맘쾵ꆣ볙짨쓚죝캪ꆰ쿈탐탔폫뒴튵벨킧횮볤폐ퟅ헽쿠맘맘쾵ꆱꎬ볬퇩뷡맻뇭쏷ꎬ뛾헟쿠맘쾵쫽캪ꎬp=,틲듋볙짨H10춨맽볬퇩ꆣ헢폫풤웚쳡돶뗄뷡맻쫇튻훂뗄ꆣ 볙짨H11쳖싛뗄쫇럧쿕돐떣폫뒴튵벨킧뗄맘쾵ꆣ볙짨쓚죝캪ꆰ럧쿕돐떣폫뒴튵벨킧횮볤폐ퟅ헽쿠맘맘쾵ꆱꎬ볬퇩뷡맻뇭쏷ꎬ뛾헟쿠맘쾵쫽캪ꎬp=,틲듋볙짨H11캴쓜춨맽볬퇩ꆣ헢폫풤웚쳡돶뗄뷡맻쫇늻튻훂뗄ꆣ 3ꆢ볬퇩뷡맻쳖싛 춨맽틔짏뛔쒣탍뗄볬퇩ꎬ랢쿖웤훐7쳵볙짨믱뗃쇋춨맽ꎬ럻뫏횮잰쯹뷸탐뗄샭싛볙짨튪쟳ꆣ뮹폐쇭췢쯄쳵캴믱뗃춨맽ꆣ풴릹붨쓜솦풽잿퓲웳튵닉좡뒴탂탔ꆢ쿈탐탔폫럧쿕돐떣뗈뒴튵떼쿲쟣쿲뻍풽쏷쿔ꆣ탂웳튵풴릹붨쓜솦풽잿ꎬ뻍믡쪹ퟩ횯쓚룷샠풴뗄쇷뚯탔퓶잿ꎬ듓뛸쳡룟웳튵뗄닺돶ꆣ쳡룟풴뗄쇷뚯탔튲퓚튻뚨돌뛈짏뮺뷢풴풼쫸삧뺳ꆣ틲듋ꎬ뛔탂뒴웳튵살쮵ꎬ쳡룟풴릹붨쓜솦뛔탂웳튵틽죫탂닺욷믲닉폃탂릤틕뗈뒴튵떼쿲탐캪뻟폐횧독ퟷ폃ꆣ풴릹붨맽돌훐짦벰41
뗚컥헂 뷡릹랽돌쒣탍움볛럖컶폫뷡맻 뛔풴뗄폅뮯엤훃ꎬ벴뛔웳튵쯹쪶뇰틑믱뗃뗄럖즢풴뷸탐폐킧엤훃ꆣ뒴탂탔뗄폅뮯엤훃풴붫냾샫쓇킩컞킧풴ꎬ캪웳튵듸살탂뗄뺺헹풴ꎬ탎돉웳튵튻훖쓚뮯쓜솦ꎬ붫웳튵뗄뿉폃풴욽첨췘햹뾪살ꆣ풴샻폃쓜솦쓜릻쳡룟뒴튵풴뗄쪹폃킧싊ꎬ쪹탂웳튵믱뗃뺺헹폅쫆ꎬ쯼쓜릻펰쿬탂웳튵쫇럱닉좡쿈폚뺺헹뛔쫖뗄뎬잰탐뚯ꎬ붫풴폫햽싔폐킧욥엤웰살ꎬퟮ훕쳡짽탂뒴웳튵뗄벨킧ꆣ뒴튵떼쿲캬뛈훐뗄뒴탂탔폫쿈탐탔햽싔탐캪쓜릻헽쿲펰쿬뒴튵벨킧ꆣ웳튵뗄뒴탂탔뛈풽룟ꎬ웤뛔닺욷뗄퇐랢쯙뛈뻍뿬ꎬ틽죫닺욷믲럾컱뗄훜웚뻍뛌ꎬ듓뛸뿉틔냑컕뫃탂뗄믺믡ꆣ웳튵뿉틔춨맽뻟쳥뗄닺욷쫐뎡뒴탂ꆢ맜샭뒴탂틔벰벼쫵뒴탂뗈춾뺶살폐킧뗘쳡짽웳튵뗄뫋탄뺺헹솦ꎬ늢ퟮ훕믱뗃뷏병뗄벨킧ꆣ쿈뚯탔쳥쿖뗄쫇튻룶웳튵뗄잰햰탔쫓뷇틔벰톰쟳믺믡뗄탐뚯ꆣ쿈탐뗄웳튵췹췹뿉틔퓚뺭펪맽돌훐믱뗃쿈랢폅쫆ꆣ평폚좱랦뺺헹ꎬ쎻폐뛔쫖폫웤헹뛡쫐뎡럝뛮ꎬퟷ캪탐튵쿈쟽ꎬ췹췹쓜릻퓚뛌웚쓚믱뗃뎬뛮샻죳ꆣ 풴릹붨쓜솦뛔뒴튵벨킧뗄펰쿬캴쓜믱뗃횧돖ꆣ캴쓜믱뗃춨맽뗄풭틲뿉쓜쫇ꎺ쫗쿈탂뒴웳튵돉솢틔뫳ꎬ쏦뛔풴풼쫸뗄삧뺳ꎬ믱뗃풴횻쫇뗚튻늽ꎬ떫헢늻쓜죃웳튵뻍믱샻ꎬ횻폐붫풴뮯캪ퟩ횯쓜솦뫳ꎬ닅쓜폐킧쳡짽벨킧ꆣ웤듎튲쮵쏷ꎬ뷶뷶듓췢늿뮷뺳훐믱뗃쯹탨뗄풴뮹쫇늻릻뗄ꎬ뮹탨붫풴엤훃폅뮯뫃ꎬ뮯캪쓜솦ꎬ폫웳튵햽싔쿠욥엤ꎬ춨맽닉좡뒴탂탔ꆢ쿈탐탔폫럧쿕돐떣뗈뒴튵떼쿲햽싔살캪웳튵듸살샻죳ꆣ풴샻폃쓜솦뛔뒴탂탔폫럧쿕돐떣캴쓜믱뗃춨맽ꆣ웳튵퓚탎돉ퟔ벺쓜솦뫳ꎬ뻟폐튻뚨뗄룕탔ꎬ뛸뒴탂탔폫럧쿕돐떣뚼탨튪닉좡듳떨ꎬ쎰쿕뗄탐캪좥냑컕믺믡ꎬ뛔쓜솦쳡돶탂뗄튪쟳ꎬ탨튪웳튵뗷헻ퟔ벺뗄쓜솦ꆣ뛸웳튵쿖폐뗄쓜솦늢늻쓜퓚뛌쪱볤쓚뻍쫊펦헢훖햽싔쟣쿲ꆣ럧쿕돐떣뛔뒴튵벨킧뗄헽쿲펰쿬캴쓜춨맽ꆣ뷶뷶룒폚돐떣럧쿕뛸닉좡쎰쿕탐캪ꎬ쯤좻룟믘놨ꎬ떫튲쫇룟럧쿕뗄ꎬ튪쿫믱뗃돉릦ꎬ뮹탨뾼싇웳튵웤쯼ퟩ횯틲쯘ꆣ 42
뗚쇹헂 뷡맻폫붨틩 뗚쇹헂₽ﯓ꣒뗚튻뷚 퇐뺿뷡싛 놾컄듓믹폚풴뗄웳튵햽싔맜샭쫓뷇ꎬ뎢쫔퇐뺿쇋풴헻뫏쓜솦폫뒴튵떼쿲뛔뒴튵벨킧뗄펰쿬ꎬ캪컒맺탂뒴웳튵퓚뺭볃탍웚쏦뛔췢늿뮷뺳늻좷뚨탔퓶잿ꎬ쫐뎡뺺헹죕쟷벤쇒뗄놳뺰쿂ꎬ죧뫎뷢뻶탂뷸죫좱쿝뫍풴풼쫸ꆢ퓶잿탂웳튵뛔췢늿뮷뺳뗄쫊펦쓜솦뫍믱뗃돖뻃뺺헹폅쫆쳡릩쇋폐틦뗄쮼뾼뫍웴쪾ꆣ 뗚튻ꎬ뒴튵떼쿲뗄뒴탂탔폫쿈탐탔캬뛈뛔뒴튵벨킧폐헽쿲ퟷ폃ꆣ웳튵닉폃뒴탂탔폫쿈탐탔닟싔붫폐샻폚쳡짽웤벨킧쮮욽ꆣ뛸럧쿕돐떣뛔뒴튵벨킧뗄헽쿲듙뷸ퟷ폃퓲늻쿔훸ꆣ풴헻뫏쓜솦뛔뒴튵떼쿲듦퓚ퟅ펰쿬맘쾵ꎬ쳘뇰쫇릹붨쓜솦뛔뒴탂탔ꆢ쿈탐탔폫럧쿕돐떣뚼폐ퟅ믽벫뛸쿔훸뗄펰쿬ꆣ뛸풴샻폃쓜솦뛔뒴튵떼쿲뗄펰쿬늻쏷쿔ꎬ헢뿉쓜쫇평폚풴헻뫏쓜솦쫜떽웳튵쓚늿쒳킩틲쯘뗄펰쿬ꆣ 뗚뛾ꎬ놾컄퇐뺿쇋탂웳튵풴헻뫏쓜솦뛔뒴튵벨킧뗄펰쿬맘쾵ꆣ뷡맻쿔쪾ꎬ풴샻폃쓜솦뛔뒴튵벨킧폐ퟅ믽벫쿔훸뗄펰쿬ꎬ헢쫇틲캪풴샻폃쓜솦쓜릻쳡룟뒴튵풴뗄폐킧샻폃ꎬ쪹웤랢믓ퟮ듳킧폃ꎬ붫풴뮯캪ퟩ횯쓜솦살쳡짽벨킧ꆣ뛸풴릹붨쓜솦뛔탂웳튵벨킧펰쿬ퟷ폃늻쏷쿔ꎬ퓚놾컄뗄쒣탍볬퇩훐캴쓜춨맽ꎬ헢뿉틔쫇평폚풴릹붨쓜솦뮹탨ퟩ횯햽싔쿠욥엤닅쓜쳡짽벨킧ꆣ헢튲쮵쏷ꎬ웳튵폐쓜솦좥믱좡쯹탨뗄풴늢늻쓜듸살뷏뫃뗄벨킧ꎬ횻폐붫풴폐킧샻폃뫃닅쓜쳡짽벨킧ꆣ틲듋ꎬ탂뒴웳튵펦룃ퟅ훘엠퇸뛔풴뗄샻폃뫍뮯쓜솦ꆣ 뗚죽ꎬ놾컄뾪랢쇋탂뒴웳튵뗄풴헻뫏쓜솦뗄닢뛈솿뇭ꎬ늢쟒웤탅뛈폫킧뛈뷏뫃뗘뗃떽쇋퇩횤ꎬ뿉폃폚웳튵닢솿ퟔ짭풴헻뫏쓜솦쳡릩닎뾼ꎬ춬쪱튲캪톧헟쏇뛔풴헻뫏쓜솦뗄뷸튻늽퇐뺿쳡릩쇋샭싛믹뒡ꆣ 뗚뛾뷚 뒴탂뗣 퓚췪돉놾퇐뺿뗄뚨탔폫쪵횤뗷퇐럖컶뫳ꎬퟜ뷡맩쓉ꎬ놾컄훷튪폐틔쿂벸룶샭싛뒴탂뗣ꎺ 1ꆢ붫잰훃뇤솿풴헻뫏쓜솦틽죫떽뒴튵떼쿲폫뒴튵벨킧맘쾵쒣탍훐ꆣ쒿잰뗄컄쿗뛔뒴튵떼쿲폫벨킧맘쾵뗄퇐뺿뇈뷏뛠ꎬ듓ퟮ돵퇐뺿솽헟횮볤뗄횱뷓맘쾵떽틽죫좨뇤틲쯘ꆣ퓚퇐뺿뒴튵떼쿲뛔뒴튵벨킧펰쿬쪱ꎬ톧헟쏇뗃돶뗄뷡싛늻튻훂ꆣ43
뗚쇹헂 뷡맻폫붨틩 틲듋놾컄붫풴헻뫏쓜솦ퟷ캪뒴튵떼쿲폫뒴튵벨킧맘쾵쒣탍뗄잰훃뇤솿ꎬ뻟폐샭싛틢틥ꆣ춬쪱ꎬ풴뛔탂뒴웳튵뗄돉뎤랢햹뻟폐훘튪ퟷ폃ꎬ뒴튵떼쿲폖쫇튻훖풴쿻뫄뗄햽싔떼쿲ꎬ틲듋첽쳖풴헻뫏쓜솦ꆢ뒴튵떼쿲폫뒴튵벨킧뗄맘쾵뛔탂웳튵뷢뻶풴풼쫸ꎬ쳡짽벨킧쮮욽폖뻟폐쿖쪵틢틥ꆣ 2ꆢ놾컄붫풴헻뫏쓜솦뮮럖캪풴릹붨쓜솦폫풴샻폃쓜솦솽룶캬뛈ꎬ늢짨볆쇋풴헻뫏쓜솦헢튻뇤솿뗄닢솿횸뇪ꆣ춨맽놾컄뗄믹뒡탔쪵횤릤ퟷꎬ횤쏷룃솿뇭뻟폐뷏뫃뗄탅뛈폫킧뛈ꆣ놾퇐뺿샻폃헢튻솿뇭뷸탐쇋뷡릹랽돌쒣탍럖컶ꆣ헢쫇뛔풴헻뫏쓜솦닢솿랽램뗄튻듎샭싛뫍쪵볹쳡짽ꆣ 3ꆢ뒴튵떼쿲뗄죽룶캬뛈횮볤뻟폐뛀솢탔ꎬ놾컄럖컶쇋룷룶뒴튵떼쿲ퟓ캬뛈뛔뒴튵벨킧뗄ퟷ폃춾뺶ꆣ뇋듋볤춨맽뮥늹뗄맘쾵펰쿬ퟅ뒴튵벨킧ꆣ뷡맻뇭쏷ꎬ뒴탂탔폫쿈탐탔뛔벨킧폐ퟅ헽쿲펰쿬ꎬ뛸럧쿕돐떣뛔벨킧뗄헽쿲맘쾵캴쓜믱뗃횧돖ꆣ 뗚죽뷚 뻖쿞탔 놾컄뺡맜퓚샭싛짏폐쯹뒴탂ꎬ튲뻟폐쿖쪵틢틥ꎬ떫평폚쫜훷맛짏쓜솦뗄뻖쿞틔벰튻킩뿍맛쳵볾뗄펰쿬ꎬ쪹뗃퇐뺿뗄뻖쿞튲쏷쿔듦퓚ꎬ뻟쳥뗄뻖쿞뫍늻ퟣ횮뒦훷튪쳥쿖퓚틔쿂랽쏦ꎬ헢킩퓚캴살뗄톧쫵퇐뺿릤ퟷ훐폐듽뿋럾ꆣ 1ꆢ뒴튵떼쿲폫벨킧맘쾵쒣탍뗄잰훃뇤솿뗄짮죫퇐뺿ꆣ놾컄췘햹쇋솽틲쯘쒣탍ꎬ틽죫쇋풴헻뫏쓜솦헢튻잰훃뇤솿ꎬ떫평폚뒴튵믮뚯뗄뢴퓓탔ꎬ캴쓜짮죫럖컶쓄킩틲쯘붫펰쿬뒴튵떼쿲뛔벨킧뗄ퟷ폃ꆣ쯤좻릹붨쇋죽룶뒴튵튪쯘뗄맘쾵쒣탍ꎬ떫튲뫶싔쇋탭뛠웤쯼랽쏦ꎬ쒣탍뮹듦퓚ퟅ뫜듳뗄룄뷸횮뒦ꆣ 2ꆢ놾컄퇏룱ퟱ톭쪵횤퇐뺿랽낸뗄짨볆쇷돌ꎬ떫평폚쪱볤뫍뺫솦뗈풼쫸ꎬ쓑쏢듦퓚ퟅ폐듽룄짆횮뒦ꆣ퓚솿뇭짨볆짏ꎬ닉폃쇋맺쓚췢쿠뛔뇈뷏돉쫬뗄솿뇭볓짏킡랶캧럃첸ퟛ뫏뗃살ꆣ쯤좻뷨본틑폐뗄솿뇭뻟폐뷏룟뗄탅뛈폫킧뛈ꎬ떫평폚맺췢뫍맺쓚뗄컄뮯닮틬ꎬ붫쪹솿뇭뗄쫊폃탔듳듲헛뿛ꆣ헢킩죔탨룼뛠톧헟볓틔퇩횤ꆣ 3ꆢ퓚돩퇹랽쪽짏ꎬ뻖쿞퓚퓆쓏쪡뗄탂뒴웳튵ꎬ쫽뻝쫕벯뗄랶캧폐쿞ꎬ뿉듺뇭탔뿉쓜뻍폐뗣욫닮ꆣ퇹놾쫽뻝튲늻릻뛠ꎬ캴쓜뷸탐뿧쟸쯦믺돩좡퇹놾ꎬ퇹놾쫽늻ퟣ뿉쓜믡펰쿬쪵횤뷡맻ꆣ퓚퇐뺿쪱뗣짏ꎬ놾컄횻닉폃뺲첬뷘쏦쫽뻝ퟶ쇋뫡쿲퇐뺿ꎬ캴쓜퓚쿠뛔뎤뗄쪱볤샯뾼달죽헟횮볤뗄맘쾵ꆣ 44
뗚쇹헂 뷡맻폫붨틩 뗚쯄뷚 뛔캴살퇐뺿뗄햹췻 본폚놾퇐뺿훐듦퓚뗄늻ퟣꎬ놾컄쳡돶쇋뛔캴살퇐뺿뿉틔룄뷸뗄뗘랽ꎺ 1ꆢ볓잿쪵횤퇐뺿뗄뺫좷탔ꆣ퓚퇹놾쫽솿짏ꎬ죧맻폐쓜솦뗄뮰ꎬ펦뺡뿉쓜짦벰룷탐튵뫍룷뗘쟸ꎬ퓶볓뗷퇐뗄헦쪵탔뫍듺뇭탔ꆣ 2ꆢ퓚솿뇭닢솿짏ꎬ뿉닉폃훷맛움닢폫뿍맛쫽뻝쿠뷡뫏뗄랽램ꎬ폐킧뇜쏢훷맛움닢뗄욫닮ꆣ 3ꆢ쯦ퟅ뒴튵샭싛뗄짮죫퇐뺿ꎬ놾컄뗄샭싛쒣탍뗃볓틔탞헽ꎬ뿉틔짦벰웤쯼튻킩뇤솿ꎬ뇈죧뒴튵뮷뺳ꎬퟩ횯컄뮯뗈ꆣ헢퇹퇐뺿뷡맻닅쓜룼뫃뗘횸떼뒴튵쪵볹ꆣ 45
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뢽 슼 뢽†슼?탂뒴웳튵뗷닩컊뻭 ퟰ뺴뗄얮쪿/쿈짺: 쓺뫃!럇뎣룐킻쓺춬틢뷓쫜컒쏇뗄뗷닩ꎬ놾뗷닩쫇삥쏷샭릤듳톧맜샭벰뺭볃톧풺ꆢ퓆쓏닆뺭듳톧뒴튵퇐뺿벰톯훐탄뗄튻룶쳢뗷퇐ꎬ컊뻭뷶ퟶ톧쫵퇐뺿횮폃ꆣ듋듎뗷닩믮뚯뛔쿳캪웳튵뒴쪼죋믲헟닎볓웳튵돵듎뒴냬뗄뫏믯죋ꆣ헻룶뗷닩쫇쓤쏻뗄ꎬ늢폫웤쯻웳튵뗄뗷닩쫽뻝뫏늢쪹폃ꎬ늻믡떥뛀퇐뺿죎뫎튻볒웳튵ꎬ늻믡뛔쓺룶죋뫍릫쮾퓬돉죎뫎펰쿬ꎬ춬쪱뛔놾듎뗷퇐뗄ퟮ훕뷡맻컒쏇풸틢폫닎폫웳튵릲쿭ꎬ쾣췻놾듎퇐뺿돉맻뛔쓺릫쮾튲폐튻뚨뗄닎뾼볛횵ꆣ쟫쓺룹뻝쓺쯹쏦쇙뗄쪵볊쟩뿶헦쪵믘듰ꎬ퓚쓺죏캪뫏쫊뗄톡쿮짏듲ꆰꇌꆱꆣ 솪쾵랽쪽ꎺ췵붨훐 퓆쓏닆뺭듳톧릤짌맜샭톧풺 뗧뮰ꎺ13808723698 Email:wangvp@ 룐킻쓺뗄횧돖ꎡ 뗚튻늿럖:룶죋/웳튵놳뺰탅쾢 1.쓺릫쮾돉솢쓪쫽: ꇵ6룶퓂틔쿂 ꇵ6룶퓂ꆪ4쓪 ꇵ5ꆪ8쓪 ꇵ8쓪틔짏 3.쓺뗄탔뇰: ꇵ쓐 ꇵ얮 4.쓺뗄쓪쇤: ꇵ25쯪틔쿂 ꇵ25훁29쯪 ꇵ30훁39쯪 ꇵ40훁49쯪 ꇵ50쯪벰틔짏 5.쓺뒴튵쪱뗄톧샺: ꇵ돵훐벰틔쿂 ꇵ룟훐 ꇵ뿆 ꇵ듳톧놾뿆 ꇵ쮶쪿 ꇵ늩쪿 쯹톧튵: ꇵ샭뿆 ꇵ릤뿆 ꇵ튽쇆 ꇵ뺭볃맜샭 ꇵ컄쪷 ꇵ얩튵 ꇵ웤쯻 6.쓺뒴튵쪱뗄횰튵:ꇵ얩쏱 ꇵ튻냣릤죋 ꇵ떳헾룉늿 ꇵ웳튵벼쫵죋풱 ꇵ웳튵믹닣맜샭죋풱 ꇵ톧킣뷌쪦 ꇵ뎧뎤뺭샭 ꇵ뿆퇐죋풱 ꇵ웤쯻 7.쓺릫쮾돵뒴쪱뗄샠탍: ꇵ룶죋뛀 ꇵ뫏믯훆웳튵 ꇵ릫쮾훆웳튵 8.쓺릫쮾훷튪듓쫂틔쿂쓄훖튵컱? ꇵ훆퓬 ꇵ럾컱 ꇵ틻쪳튵 ꇵ엺랢벰쇣쫛 ꇵ붻춨뫍춨톶 ꇵ붨훾 ꇵ탞샭튵 ꇵ웤쯻 9.쓺릫쮾쯹쫴탐튵탔훊: ꇵ룟탂벼쫵탐튵 ꇵ뒫춳탐튵 10.쓺릫쮾힢닡놾ꎨ췲풪ꎩ:ꇵ10틔쿂 ꇵ11ꆪ30 ꇵ31ꆪ50 ꇵ51ꆪ100 ꇵ101ꆪ500 ꇵ500틔짏 11.쓺릫쮾쒿잰풱릤쫽: ꇵ1-20 ꇵ21-50 ꇵ51-100 ꇵ100틔짏 12.쓺뒴튵뗄ퟮ훷튪뚯믺쫇: 뿚잮 뿚쳡짽짧믡뗘캻 뿚늻쾲뮶캪쯻죋릤ퟷ 뿚랢쿖쫐뎡믺믡 뿚볒춥뒫춳 뿚웤쯻 뗚뛾늿럖:뒴튵뮷뺳움볛솿뇭 뒴튵뮷뺳움볛쫇놾퇐뺿뗄튻룶랽쏦ꎬ훷튪냼삨뻶닟맽돌훐뗄쯹폐췢늿틲쯘ꆣ뮷뺳룹뻝웤쳘탔럖캪뢴퓓탔ꆢ뿭쯉탔ꆢ뚯첬탔ꆣ틔쿂컊쳢폃폚닢솿웳튵뗄뒴튵뮷뺳ힴ뿶ꎬ쟫룹뻝틔쿂쳢쿮ꎬ룸돶ퟔ벺뗄뾴램ꆣ 뚯첬탔 럇뎣늻춬틢 늻춬틢 폐킩늻춬틢 늻뫃쮵 폐킩춬틢 춬틢 럇뎣춬틢 1.닺욷췋뮯싊뫜룟 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 2.뺺헹헟탐캪뿉풤닢탔뫃 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 3.탨쟳폫맋뿍욫뫃뿉풤닢탔뫃 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 4.닺튵벼쫵뇤룯싊뫜룟 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 뿭쯉탔 럇뎣늻춬틢 늻춬틢 폐킩늻춬틢 늻뫃쮵 폐킩춬틢 춬틢 럇뎣춬틢 1.맽좥죽쓪쫐뎡퓶뎤쯙뛈뫜뿬 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 2.탐튵캴살뎤웚컥쓪믲룼뛠쫐뎡뿉쓜 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 뗄퓶뎤쯙뛈뫜뿬 3.헻룶닺튵쒿잰뗄펯샻탔뫜뫃 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 4.헻룶닺튵뎤웚ꎨ컥쓪믲룼뛠ꎩ뗄풤웚 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 펯샻탔뫜뫃 뢴퓓탔 럇뎣늻춬틢 늻춬틢 폐킩늻춬틢 늻뫃쮵 폐킩춬틢 춬틢 럇뎣춬틢 49
뢽 슼 1펰쿬웳튵뒴솢뗄틲쯘뫜뛠 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 2.룷룶틲쯘뗄풤닢돌뛈뫜쓑 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 3.룷룶틲쯘뗄뮥쿠펰쿬돌뛈뫜듳 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 뗚죽늿럖ꎺ뒴튵믺믡쳘헷캬뛈닢뚨 쫐뎡캬뛈ꎺ 럇뎣늻춬틢 늻춬틢 폐킩늻춬틢 늻뫃쮵 폐킩춬틢 춬틢 럇뎣춬틢 1.쫐뎡돉뎤싊뫜룟 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 2.잱퓚쫐뎡맦쒣듳 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 3.듳늿럖쫐뎡럝뛮뮹캴놻햼쇬 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 4.쫴폚탂탋탐튵 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 5.쫴폚탐튵룼탂뮻듺쯹듸살뗄탂쫐뎡 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 6.쫴폚탂뗄쾸럖쫐뎡 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 7.쫐뎡훐늻듦퓚펰쿬웳튵짺듦랢햹뗄췾킲 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 8.쫐뎡틗폚닙ퟷꆢ틗폚랢믓ퟔ짭폅쫆 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 9.탐튵쫐뎡펵폐뷸죫뇚생 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 10.쫐뎡뺺헹짐늻돤럖 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 닺욷캬뛈ꎺ 럇뎣늻춬틢 늻춬틢 폐킩늻춬틢 늻뫃쮵 폐킩춬틢 춬틢 럇뎣춬틢 1.닺욷폐횪쪶닺좨랽쏦뗄놣뮤 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 2.닺욷뒴틢뛀쳘 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 3.닺욷욷훊룟 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 4.뿍뮧쪹폃닺욷뮻돉놾뷏뗍 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 5.닺욷뻟놸돉놾폅쫆 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 6.붫튪뾪랢뗄닺욷뫜쓍폃 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 7.닺욷벼쫵뻟폐춻웆탔 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 8.닺욷닉폃좫탂뗄짺닺쿟 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 9.닺욷닉폃좫탂뗄짨볆 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 10.닺욷닉폃좫탂뗄짺닺릤틕 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 뗚쯄늿럖ꎺ풴헻뫏쓜솦캬뛈닢솿 풴릹붨쓜솦 럇뎣늻춬틢 늻춬틢 폐킩늻춬틢 늻뫃쮵 폐킩춬틢 춬틢 럇뎣춬틢 1.쓜릻쪶뇰떽쯹탨뗄뒴튵풴 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 2.쓜릻믱좡떽쯹탨뗄뒴튵풴 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 3.쓜릻ퟩ뫏쿖폐뗄뒴튵풴 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 4.쓜릻붫탂풴뫍쿖폐풴죚뫏튻웰 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 5.쓜릻뛔풴ퟩ뫏뷸탐폐킧뗷헻 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 풴샻폃쓜솦 럇뎣늻춬틢 늻춬틢 폐킩늻춬틢 늻뫃쮵 폐킩춬틢 춬틢 럇뎣춬틢 1.쓜릻폐킧뗘벤믮틑릹붨뗄풴 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 2.풴쪹폃킧싊듯떽쇋탐튵뷏룟쮮욽 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 3.풴뗄샻폃싊룟 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 4.쓜릻샻폃쿖폐뗄풴뾪랢뫍췘햹쯹탨뗄1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 웤쯼풴 뗚컥늿럖: 뒴튵햽싔캬뛈닢솿 쫐뎡떼쿲 맋뿍떼쿲 럇뎣늻춬틢 늻춬틢 폐킩늻춬틢 늻뫃쮵 폐킩춬틢 춬틢 럇뎣춬틢 1.ힷ쟳맋뿍싺틢쫇릫쮾훘튪쒿뇪 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 2.룸맋뿍폅훊뗄닺욷볛횵 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 3.쾸캢뗄맛달살움맀맋뿍뗄탨쟳 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 뺺헹헟떼쿲 럇뎣늻춬틢 늻춬틢 폐킩늻춬틢 늻뫃쮵 폐킩춬틢 춬틢 럇뎣춬틢 1.튵컱죋풱폫웤쯻늿쏅럖쿭뺺헹헟탅쾢 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 2.뺭샭죋뎣뮥쿠쳖싛뺺헹헟폅쇓쫆 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 50
뢽 슼 3.뛔뺺헹헟뗄듙쿺탐뚯믘펦쿠떱톸쯙 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 뿧ퟩ횯킭뗷 럇뎣늻춬틢 늻춬틢 폐킩늻춬틢 늻뫃쮵 폐킩춬틢 춬틢 럇뎣춬틢 1.틀뻝릫쮾ퟜ쳥닟싔뷸탐늿쏅볤헻뫏 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 2.룷늿쏅볤뇋듋럖쿭룷쿮풴 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 3.룷늿쏅뚼냧퇝늻뿉믲좱뗄뷇즫 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 뒴튵떼쿲 뒴탂탔 럇뎣늻춬틢 늻춬틢 폐킩늻춬틢 늻뫃쮵 폐킩춬틢 춬틢 럇뎣춬틢 1.릫쮾잿뗷퇐랢ꆢ벼쫵쇬쿈뫍뒴탂 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 2.릫쮾퓚ퟮ뷼죽쓪폐뫜뛠탂닺욷 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 ꎨ럾컱쿟ꎩ짏십 3.릫쮾탂닺욷ꎨ럾컱ꎩ듳뛠쫇듳 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 럹뛈뗄뒴탂 뎬잰탐뚯 럇뎣늻춬틢 늻춬틢 폐킩늻춬틢 늻뫃쮵 폐킩춬틢 춬틢 럇뎣춬틢 1.쏦뛔춬탐뺺헹쪱ꎬ춨뎣쫇릫쮾쿈닉 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 좡탐뚯ꎬ춬탐퓙룺뷸믲믘펦 2.쟣쿲폚ퟷ캪ꆰ쇬떼헟ꆱꎬ뺭뎣뇈춬탐 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 쇬쿈췆돶탂닺욷믲쟀쿈뷸죫탂쫐뎡ꎬ 믲싊쿈틽폃탂뗄맜샭쒣쪽ꆢ탂벼쫵ꆣ 3.룟닣훷맜뺭뎣짳쫓닺튵랢햹쟷쫆ꎬ 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 싊쿈헆컕믺믡ꎬ쳡퓧탐뚯펦뛔뇤뮯 럧쿕돐떣 럇뎣늻춬틢 늻춬틢 폐킩늻춬틢 늻뫃쮵 폐킩춬틢 춬틢 럇뎣춬틢 1.릫쮾룼쟣쿲폚톡퓱뻟폐룟럧쿕ꆢ룟 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 믘놨뗄쿮쒿 2.믹폚췢늿뺭펪뮷뺳ꎬ릫쮾쟣쿲폚닉좡 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 듳떨뗄ꆢ톸쯙뗄탐뚯살듯떽릫쮾쒿뇪 3.쏦뛔늻좷뚨탔쟩뿶뷸탐뻶닟쪱ꎬ릫쮾 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 룼쟣쿲폚닉좡뷏캪듳떨믽벫뗄첬뛈ꎬ 틔헆컕잱퓚뗄믺믡 뗚쇹늿럖: 웳튵벨킧움볛솿뇭 ퟮ뷼죽쓪쓚ꎬ쓺릫쮾뗄튵벨폫춬탐튵웤쯻릫쮾쿠뇈쟩뿶죧뫎?쟫쓺룹뻝쪵볊쟩뿶ꎬ뛔쿂쇐쿮쒿ퟶ돶뿍맛움볛ꆣ쟫내헕쿂쏦뗄뇪ힼ돟뛈퓚폒뇟뗄쫽ퟖ훐톡돶ퟮ쓜듺뇭쓺틢볻뗄쫽ퟖꆣ톡퓱뗄쫽ퟖ풽듳ꎬ뇭쏷룃쏨쫶폫쓺릫쮾뗄쪵볊쟩뿶컇뫏돌뛈풽룟ꆣ 럇뎣늻춬틢 늻춬틢 폐킩늻춬틢 늻뫃쮵 폐킩춬틢 춬틢 럇뎣춬틢 l.뺻쫕틦싊ꎨ뺻쫕틦/ퟜ쿺쫛뛮ꎩ룟 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 2.춶쫕틦싊듳 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 3.뺻쫕틦퓶뎤쯙뛈뿬 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 4.릫쮾쫐뎡럝뛮삩듳뛠 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 5.릫쮾쿺쫛ퟜ뛮퓶뎤뿬 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 6.릫쮾맘힢풱릤쫽솿뗄퓶뎤 1뿚 2뿚 3뿚 4뿚 5뿚 6뿚 7뿚 51
훂킻 훂†킻?퓚뇏튵싛컄췪돉횮볊ꎬ컒뗃쿲쯹폐퓚놾컄킴맽돌훐냯훺ꆢ횧돖뫍맄샸컒뗄죋쏇뇭쪾훔탄뗄룐킻ꆣ 놾욪싛컄뗃틔췪돉ꎬ쫗쿈훔탄룐킻컒뗄떼쪦췵붨훐뷌쫚ꎬ듓싛컄톡쳢ꆢ뾪쳢떽킴ퟷ췪돉ꎬ뒦뒦뚼뷾춸ퟅ췵샏쪦뗄탄톪뫍몹쮮ꆣ퓚폫췵샏쪦쿠뒦뗄죽쓪샯ꎬ늻싛쫇퓚톧쾰짏뮹쫇짺믮짏ꎬ췵샏쪦쪼훕룸폨컒맘탄폫냯훺ꎬ떼쪦잫뫍뛸듳웸뗄죋욷ꆢ첤쪵뗄릤ퟷퟷ럧ꆢ퇏뷷뗄훎톧ꆢ뿭틔듽죋뗄돧룟욷훊ꆢ맄샸뒴탂뗄톧쫵ퟷ럧벰믥죋늻뻫뗄쪦뇭럧랶짮짮컼틽늢펰쿬ퟅ컒ꎬ쪹컒쫜틦훕짭ꆣ떼쪦늻뷶퓚컒뗄톧튵짏룸폨컒횸뗣ꎬ룼뛔컒죋짺몽쿲뗄톡퓱쳡릩쇋냯훺ꆣ 춬쪱튪룐킻컒뗄샏쪦쯎맢탋뷌쫚ꎬ룸쇋컒퇐뺿랽램잰퇘쮼캬폫랽램뗄웴뗏ꎬ캪컒릹붨싛컄뗄퇐뺿뿲볜뗬뚨쇋볡쪵뗄믹뒡ꎻ룐킻컒뗄샏쪦쇵샙뷌쫚ꎬ캪놾컄퇐뺿쳡릩쇋훐뿏뗄틢볻뫍붨틩ꎻ룐킻쯹폐뷌쫚컒횪쪶뗄샏쪦ꎬ쯻쏇캪컒횪쪶쳥쾵뗄릹붨쳡릩쇋훘튪뗄놣횤ꆣ 룐킻퓚퓆쓏닆뺭듳톧쟳톧웚볤룷캻춬뒰뫃폑뗄죈쟩냯훺뫍맄샸ꎬ엣냩컒뛈맽솽쓪럡뢻뛠닊뗄킣풰짺믮ꆣퟮ뫳쿲쯹폐맘탄ꆢ냯훺뫍횧돖컒췪돉싛컄뗄엳폑쏇뇭쪾훔탄룐킻ꆣ 마 뫪 뛾쇣튻튻쓪쯄퓂컥죕 52
릥뛁쮶쪿톧캻웚볤뗄뿆퇐돉맻 릥뛁쮶쪿톧캻웚볤뗄뿆퇐돉맻?[1] 마뫪, 췵붨훐. 풴헻뫏쓜솦뛔뒴튵맽돌뗄펰쿬퇐뺿. ꆶ훐맺벯쳥뺭볃ꆷ.웚. 53
