뗚35뻭뗚2웚헣붭듳톧톧놨(죋컄짧믡뿆톧냦),쓪3퓂JournalofZhejiangUniversity(HumanitiesandSocialSciences)ꆡ컒맺럧쿕춶믺릹벤샸풼쫸믺훆퇐뺿얣몣쾼(헣붭듳톧맺볊뺭볃폫쎳틗쾵,헣붭몼훝310027)[햪ꆡ튪]20쫀볍80쓪듺틔살,캪쇋뷢뻶ꆰ놾쳡릩헟ꆪ럧쿕춶볒ꆱꆰꆢ럧쿕춶볒ꆪ럧쿕웳튵ꆱ횮볤뗄벤샸풼쫸컊쳢,쏀맺뗈랢듯맺볒럧쿕춶믺릹훷튪닉좡쇋폐쿞뫏믯훆뗄ퟩ횯탎쪽ꆣ쒿잰,컒맺룷쪡쫐럧쿕춶믺릹뗄ퟩ횯탎쪽믹놾캪쫂튵탍릫쮾훆,헢튻랽쏦뫜쓑뷢뻶럧쿕춶쳡릩헟폫럧쿕춶퓋ퟷ헟횮볤뗄닺좨듺샭맘쾵;쇭튻랽쏦떼훂뷏룟뗄퓋탐돉놾,쪹듺샭헟폫놻듺샭헟쮫랽퓚춶퓋ퟷ랽쏦듦퓚탅쾢늻뛔돆ꆣ틲듋,붨솢폐쿞뫏믯훆뗄럧쿕춶믺릹,뷢뻶럧쿕춶쳡릩헟폫럧쿕춶퓋ퟷ헟횮볤뗄벤샸풼쫸컊쳢,쫇쒿잰컒맺럧쿕춶믺릹웈쟐탨튪뷢뻶뗄컊쳢ꆣ[맘볼듊]럧쿕춶믺릹;폐쿞뫏믯훆;벤샸풼쫸믺훆[훐춼럖샠뫅]F83ꆡꆡ[컄쿗뇪횾싫]Aꆡꆡꆡ[컄헂뇠뫅]1008-942X(2005)02-0082-08튻ꆢ컊쳢뗄쳡돶컒맺럧쿕춶퓚뺭샺쇋잰벸쓪뗄웰늽랢햹뫳,쿖퓚돶쿖쇋삧뺳,풭틲횮튻쫇럧쿕춶믺릹쎻폐뫏쫊뗄웳튵ퟩ횯탎쪽ꆣ쒿잰,컒맺럧쿕춶믺릹ퟩ횯탎쪽듳뛠닉폃평헾뢮믲맺폐듳웳튵돶ퟩ붨뗄쫂튵탍릫쮾ퟩ횯탎쪽ꆣ퓚뿆벼늿뗄뗷닩훐,폐쿞퓰죎릫쮾풼햼좫늿놻뗷닩믺릹뗄83%\[1\],떫헢훖웳튵ퟩ횯탎쪽캴쓜폐킧뷢뻶럧쿕춶헟뫍럧쿕춶믺릹틔벰럧쿕춶믺릹뫍럧쿕웳튵횮볤뗄벤샸풼쫸컊쳢,쓑틔탎돉뛔럧쿕춶뗄폐솦훆뫢ꆣ헾뢮ퟷ캪춶훷쳥,틗쪹닺좨훷쳥좱캻,쒣뫽럧쿕춶믺릹뗄닺좨맘쾵,뛸럧쿕춶믮뚯튲틗쫜헾뢮헾닟탔쒿뇪뗄펰쿬,쓑쏢믡돶쿖뗍킧싊\[2\]ꆣ헢쫇럧쿕춶캴쓜퓚컒맺랢믓펦폐ퟷ폃뗄훷튪풭틲횮튻,틲듋폐뇘튪뛔럧쿕춶ퟩ횯탎쪽뷸탐뒴탂,짨볆쟐쪵뿉탐뗄벤샸풼쫸믺훆ꆣ폐쿞뫏믯훆럧쿕춶믺릹ퟷ캪춶헟폫럧쿕웳튵횮볤뗄훐뷩믺릹,웤ퟩ횯탎쪽폫짏쫐릫쮾틔막뚫듳믡ꆢ뚭쫂믡ꆢ룟벶맜샭닣캪훷쳥뗄믹놾훎샭릹볜늻춬ꆣ쯤좻쯼뛔췢튲뻟폐컞쿞퓰죎,떫퓚쓚늿짨훃쇋폫웕춨뫏믯훆폐룹놾쟸뇰뗄솽샠램싉퓰죎뷘좻늻춬뗄좨틦훷좨:튻샠뫏믯죋ퟷ캪헦헽뗄춶헟,춶죫뻸듳늿럖뷰,떫늻뗃닎폫뺭펪맜샭,뛸횻틔웤춶뛮캪쿞돐떣폐쿞퓰죎,헢샠뫏믯죋돆캪폐쿞뫏믯죋;쇭튻샠뫏믯죋ퟷ캪헦헽뗄맜샭헟,횻춶죫짙솿뗄뷰,떫좫좨뢺퓰뺭펪맜샭,돆캪웕춨뫏믯죋,틠돆캪튻냣뫏믯죋믲컞쿞뫏믯죋ꆣ폐쿞뫏믯훆폐만뚨뗄짺쏼훜웚(춨뎣캪10쓪),퇓뎤짺쏼훜웚탫헷뗃폐쿞뫏믯죋뗄춬틢(춨뎣캪1ꆪ3쓪\[3\])ꆣ듓폐쿞뫏믯훆ퟩ횯탎쪽뿉틔뾴돶,폐쿞뫏믯훆?웺쇋웕춨뫏믯훆웳튵뫍릫쮾훆웳튵룷ퟔ뗄쒳킩쇓쫆,뛸볦뻟쇋뛾헟뗄폅뗣ꆣ헢튻뗣,뿉틔[쫕룥죕웚]2004-06-01[놾뾯췸횷ꆤ퓚쿟퓓횾]
뗚2웚얣몣쾼:컒맺럧쿕춶믺릹벤샸풼쫸믺훆퇐뺿83듓쿖쪵뗄뺭볃짺믮뗃떽펡횤,죧쏀맺1980쓪폐쿞뫏믯훆춶믹뷰닎폫럧쿕춶뛮햼럧쿕춶ퟜ뛮뗄%,떽1995쓪헢튻뇈샽듯떽쇋%ꆣ뷨본쏀맺뗈랢듯맺볒럧쿕춶뗄돉릦뺭퇩,폐쿞뫏믯훆캪컒맺럧쿕춶믺릹ퟩ횯탎쪽뒴탂쳡릩쇋탂쮼슷ꆣ쒿잰,짮붻쯹틑뺭췆돶훐킡웳튵냥뿩,헢캪럧쿕춶뗄폐킧췋돶쳡릩쇋잿폐솦뗄훆뛈횧돖,뛸폫횮엤쳗뗄웳튵ퟩ횯훆뛈튲펦뷸탐뒴탂ꆣ뛾ꆢ폐쿞뫏믯훆벤샸풼쫸믺훆짨볆럧쿕춶ퟷ캪튻훖탂탋뗄뷰죚뒴탂릤뻟,쏦쇙뗄쫇룟럧쿕ꆢ룟쫕틦뗄춶쇬폲,늻좷뚨탔벫듳,짦벰뷰죚ꆢ뿆벼ꆢ맜샭ꆢ쫐뎡뗈뛠쇬폲뛠랽쏦뗄횪쪶,뛸춶헟횻펵폐믵뇒놾,튻냣늻뻟폐럧쿕춶볒뻟폐뗄튵횪쪶ꆢ듓튵뺭퇩ꆢ맜샭닅쓜뗈죋솦놾,늻쓜퓚쫂잰ힼ좷풤볆럧쿕춶볒뗄헦쪵뺭펪쓜솦ꆢ얬솦쮮욽뫍믺믡훷틥쟣쿲,폫럧쿕춶볒횮볤뗄탅쾢늻뛔돆쿖쿳뷏웕춨웳튵퇏훘ꆣ퓙평폚춶떽럧쿕춶믺릹뗄닺뻟폐늻뿉쓦탔,죝틗닺짺뗀뗂럧쿕,튻떩웕춨뫏믯죋닉좡쇋믺믡훷틥탐캪뻍믡퓬돉컞뿉췬믘뗄뿷쯰ꆣ뛸폐쿞뫏믯훆벤샸풼쫸믺훆짨볆룼쫊펦럧쿕춶뗄쳘뗣뫍톡퓱욫뫃,쓜폐킧붵뗍럧쿕,복짙캯췐듺샭돉놾,퓶볓춶쫕틦\[4\]ꆣ틔펢쏀캪듺뇭뗄럧쿕춶믺릹쫇틔폐쿞뫏믯훆캪훷떼뗄ퟩ횯탎쪽,웤폐쿞뫏믯훆벤샸풼쫸믺훆뗄짨볆죧쿂:(튻)폐쿞뫏믯죋뫍웕춨뫏믯죋뗄좨샻뫍퓰죎쫇뛔돆뗄쿖듺웳튵샭싛죏캪,ퟩ횯뗄쪣폠쯷좡좨튪폫ퟩ횯뗄뿘훆좨뺡뿉쓜뗘욥엤,뛸폐쿞뫏믯훆뇈웤쯻웳튵ퟩ횯탎쪽룼쓜냑솽헟폐킧뷡뫏웰살ꆣ죧웕춨뫏믯죋뛔웳튵춶죫1%뗄놾,뢺퓰웳튵뗄죕뎣뺭펪맜샭믮뚯,죧맻웳튵펮샻,뿉믱뗃20%뗄펮샻럖엤뛮,떫죧맻웳튵뿷쯰쟥쯣,탫틔ퟔ벺뗄좫늿닺뛔웳튵햮컱돐떣컞쿞퓰죎;폐쿞뫏믯죋뛔웳튵춶죫99%뗄놾,늻뗃닎폫웳튵뗄죕뎣쫂컱,죧맻웳튵펮샻,뿉믱뗃웳튵80%뗄펮샻럖엤뛮,벴쪹웳튵뿷쯰쟥쯣,폐쿞뫏믯죋튲횻탫틔ퟔ벺뗄돶뇈샽캪쿞돐떣폐쿞퓰죎ꆣ폐쿞뫏믯훆웳튵훎샭뷡릹쒣쪽죧춼1쯹쪾:춼1ꆡ폐쿞뫏믯훆웳튵훎샭뷡릹쒣쪽듓춼1컒쏇뿉틔뾴돶폐쿞뫏믯훆벤샸풼쫸믺훆뗄짨볆쫇:폐쿞뫏믯훆붫럧쿕춶뗄뺭펪튵벨뇤돉폐쿞뫏믯죋뫍웕춨뫏믯죋룷ퟔ쫕죫몯쫽뗄튻룶릲춬뇤솿,듓뛸ퟷ캪튻훖뎤웚뗄벤샸믺훆쪹뗃웕춨뫏믯죋좫짭탄뗘춶죫릤ퟷ,쪵쿖춶볛횵뗄ퟮ듳뮯ꆣ1%뗄춶뛔펦폚20%뗄쪣폠쯷좡좨,쿠뛔뗘쫇틔컞쿞퓰죎캪듺볛뗄,헢훖룟잿뛈뗄ꆰ쓚훃뮯ꆱ벤샸랽낸캪웕춨뫏믯죋듓쫂쓜퓶볓웤샻죳뗄
84헣붭듳톧톧놨(죋컄짧믡뿆톧냦)뗚35뻭볛횵믮뚯쳡릩쇋쿔훸뚯솦,얬솦릤ퟷ돉쇋웕춨뫏믯죋믱좡룼룟놨돪뫍뇜쏢ퟔ짭닆닺쯰쪧뗄훷튪톡퓱,듓뛸폐훺폚틖훆뗀뗂럧쿕ꋙꆣ쇭췢폐쿞뫏믯훆뮹맦뚨쇋ꆰ믘ꆱ쳵뿮,벴죧맻춶뿷쯰,퓚웕춨뫏믯죋쫕떽뢽듸좨틦횮잰,퓊탭폐쿞뫏믯죋쿈쫕믘웤춶뫍맜샭럑ꆣ(뛾)만뚨듦탸웚쿞럧쿕춶킭틩튻냣맦뚨믹뷰듦탸웚캪7훁10쓪,떽웚뫳뿉짪쟫퇓웚,쎿듎짪쟫퇓웚캪1훁3쓪,ퟮ뛠4듎,늢탨뺭뫏믯죋믡틩뛠쫽춬틢ꆢ춨맽ꆣ듦탸웚싺,뇘탫쟥엌,냑좫늿놾뷰뫍펮샻럖룸춶헟ꆣ평폚믹뷰폐만뚨듦탸웚,떽웚뫳,폐쿞뫏믯죋펵폐늻퓙쿲웕춨뫏믯죋맜샭뗄럧쿕웳튵춶뗄좨솦,틲듋웕춨뫏믯죋쎿룴3훁5쓪튪훘탂뷸탐돯ꆣ돯벯뷰뗄뛠짙쫇폐쿞뫏믯죋뫍웕춨뫏믯죋랴뢴늩?뗄뷡맻,웕춨뫏믯죋횻폐퓚잰튻룶뫏믯웚쿞쓚뒴퓬솼뫃뗄뺭펪튵벨,닅쓜믱뗃쫐뎡탅폾,퓚뫳탸죚훐좡뗃돉릦ꆣ듺샭죋캪쇋쳡룟캴살풤웚쫕죫,퓚뗚튻웚믹뷰훐뗄얬솦쮮욽듳폚튻듎탔ꆰ캯췐ꆪ듺샭ꆱ뗄얬솦쮮욽ꆣ헢쫇틲캪웕춨뫏믯죋캴살뗄만뚨쫕죫틀삵폚쫐뎡뛔웤쓜솦뗄풤웚,뛸뗚튻웚쫇춨맽얬솦뒴퓬튵벨뗄살펰쿬헢훖풤웚,헢훖짹폾뛔듺샭죋웰떽쇋벤샸ퟷ폃ꆣ짹폾돉캪뻶뚨웕춨뫏믯죋쓜럱쮳샻뗘틔뗍돉놾돯벯떽뷰뗄맘볼,떱짹폾쓜릻ힼ좷뗘춨맽쫐뎡랴펳돶살쪱,웕춨뫏믯죋뻍믡럇뎣훘쫓웤짹폾,벤샸ퟷ폃뻍믡퓶잿,헢뻍쪹뗃평쫐뎡뻶뚨웕춨뫏믯죋볛횵돉캪뿉쓜ꆣ웕춨뫏믯죋뗄짹폾뛔웤릹돉쇋벤샸뫍풼쫸ퟷ폃ꆣ(죽)틔뻟쳥쏷좷뗄킭틩풼쫸웕춨뫏믯죋뗄탐캪11춶풼쫸ꆣ웕춨뫏믯죋뇘탫뛔믹뷰쟣힢좫솦,퓚룃믹뷰춶듯떽튻뚨뇈샽뫳닅뿉틔닎폫ퟩ횯뫍퓋펪탂뗄믹뷰,뛸쿠뛔웕춨뫏믯죋랢뻲뗄탂뗄춶쿮쒿,룃믹뷰폐폅쿈춶좨ꆣ쇭췢,짨솢평폐쿞뫏믯죋횸뚨뗄캯풱ퟩ돉뗄톯캯풱믡뛔웕춨뫏믯죋톡퓱뗄춶쫂쿮뷸탐짳틩,늢맦뚨춶튻볒럧쿕웳튵뗄ퟮ룟쿞뛮,틔럀횹뛔쎻폐ퟣ릻쫕틦놣횤뗄룟럧쿕웳튵맽뛈춶ꆣ21럖엤풼쫸ꆣ폐쿞뫏믯훆킭틩춨뎣맦뚨,웕춨뫏믯죋튪벰쪱붫틑쪵쿖뗄샻죳럖엤룸춶헟;튻냣뮹맦뚨퓚믹뷰쟥엌쪱,웕춨뫏믯죋퓚폐쿞뫏믯죋쫕믘춶놾뷰뫍샻죳뫳,닅쓜쿭쫜샻죳쳡돉ꆣ헢듙쪹웕춨뫏믯죋ퟔ쪼훁훕얬솦룣뫃맜샭,쳡룟킧싊,맦뇜럧쿕,퓶볓쫕틦ꆣ31탅쾢엻슶풼쫸ꆣ폐쿞뫏믯킭틩튻냣맦뚨,ퟷ캪믹뷰뺭샭죋뗄웕춨뫏믯죋뇘탫뚨웚쿲폐쿞뫏믯죋엻슶춶퓋펪뫍쫜웳튵뺭펪뗈폐맘탅쾢;폐쿞뫏믯죋쯤좻늻닎폫폐쿞뫏믯웳튵뗄뺭펪맜샭,떫폐좨ퟔ탐믲헟캯췐듺샭죋닩퓄믡틩볇슼ꆢ닆컱믡볆놨뇭틔벰웤쯻뺭펪맜샭쇏,폐좨쇋뷢뫍볠뚽웳튵뗄뺭펪ힴ뿶늢쳡돶틢볻ꆣ(쯄)ꆰ컞맽샫믩ꆱ죴폐쿞뫏믯죋뛔웕춨뫏믯죋즥쪧탅탄,벴쪹웕춨뫏믯죋쎻폐훘듳맽듭,튲폐좨춣횹ힷ볓춶ꆣ웕춨뫏믯죋뗄얬솦뷡맻,믡룸럧쿕춶헟듸살뾴헇웚좨믲뾴뗸웚좨뗄풤웚,틔뻶뚨쫇럱볌탸춶ꆣ쎿듎럖뛎춶뚼쫇뛔웕춨뫏믯죋뗄튻듎짳닩뫍볠뚽,헢믡듙쪹웕춨뫏믯죋룼볓뫏샭뗘퓋폃뷰,듓뛸폐킧뇜쏢쇋뗀뗂럧쿕컊쳢뗄돶쿖ꆣ죽ꆢ폐쿞뫏믯훆벤샸풼쫸믺훆뗄훷튪폅쫆평폚폐쿞뫏믯훆뷏뫃뗘죚뫏쇋릫쮾훆뫍뫏믯훆뗄폅뗣,쪹뗃럧쿕춶헟뿉틔쿱릫쮾훆뗄막뚫ꋙ폐죋쾷돆,죧맻냍쇖틸탐죃샯즭돶1%,늢돐떣컞쿞퓰죎뷸탐뷰죚퇜짺닺욷춶튵컱,냍쇖틸탐튲탭믡낲좻컞ꆣ
뗚2웚얣몣쾼:컒맺럧쿕춶믺릹벤샸풼쫸믺훆퇐뺿85쓇퇹ꆰퟸ쿭웤돉ꆱ,뛸컞탫듓쫂튵탔벫잿ꆢ뢴퓓랳쯶뗄죕뎣뺭펪믮뚯;죧맻늻싺틢뮹뿉틔ꆰ폃뷅춶욱ꆱ,벴쪹웳튵뿷쯰,튲컞탫뛔웳튵햮컱돐떣컞쿞퓰죎ꆣ뛸웕춨뫏믯죋뻍쿱웕춨뫏믯훆뗄뫏믯죋튻퇹벯뻶닟좨뫍죕뎣뺭펪맜샭좨폚튻짭,뻟폐벫듳뗄ퟔ평;죧맻웳튵뿷쯰쟥쯣,웕춨뫏믯죋탫틔ퟔ벺뗄좫늿닆닺뛔웳튵햮컱돐떣컞쿞퓰죎,듓뛸듙쪹웕춨뫏믯죋쿱맜샭ퟔ벺뗄닺튻퇹맜샭폐쿞뫏믯죋뗄닺ꆣ헢훖맜샭쒣쪽벴죚뫏쇋웕춨뫏믯웳튵뗄폅쫆,폖?웺쇋릫쮾훆뢴퓓뗄훆뫢맘쾵,룼쫊틋럧쿕춶뗄쳘뗣ꆣ폐쿞뫏믯훆벤샸풼쫸믺훆훷튪폐틔쿂폅쫆:(튻)뗍퓋펪돉놾폅쫆쫗쿈,폐쿞뫏믯훆뗄쮰컱돉놾쏷쿔뗍폚릫쮾훆ꆣ내헕맺볊짏춨탐뗄쮰쫕맦퓲,횻뛔퓚램싉짏뻟폐뛀솢훷쳥룱뗄펪튵ퟩ횯,닅헷쫕웳튵쯹뗃쮰,뛸뛔늻뻟폐뛀솢램죋훷쳥룱뗄뫏믯웳튵늻헷쫕웳튵쯹뗃쮰,횻뛔춶헟헷쫕룶죋쯹뗃쮰ꆣ퓚틔펢쏀캪듺뇭뗄맺볒,폐쿞뫏믯훆럧쿕춶믺릹ퟷ캪럇뛀솢훷쳥룱뗄펪튵ퟩ횯,늻탨뷉쓉웳튵쯹뗃쮰,횻폐떱럧쿕춶믹뷰춶펮샻늢럖엤춶쫕틦쪱,쎿룶춶헟닅내럖엤떽뗄럝뛮돐떣룶죋쯹뗃쮰틥컱ꆣ퓚폐쿞뫏믯훆럧쿕춶믹뷰듦탸웚볤튲늻랢짺뿎쮰,횱떽믹뷰뷢즢쪱닅뛔틑쪵쿖뗄쫕틦볆쯣펦쮰쫕죫ꆣ뫏믯죋죧맻틔횤좯탎쪽뗃떽춶쫕틦,튲늢늻탨튪솢벴붻쓉룶죋쯹뗃쮰,횱떽횤좯돶쫛뇤쿖쪱닅뷉쓉,헢퇹늻믡닺짺벴쪱쮰쫕,쓜웰떽뷚쮰킧맻ꆣ웤듎,폐쿞뫏믯훆닉좡쇋ꆰ돐냼쪽ꆱ뗄랽램좷뚨죕뎣뺭펪맜샭럑폃ꆣ폐쿞뫏믯훆믹뷰튻냣뚼쫇춨맽킭틩쫂쿈풼뚨,믹뷰뺭샭죋쎿쓪듓틑뷉쓉뗄믲틑춶뗄믹뷰훐쳡좡1ꆪ3%뗄뷰뛮ퟷ캪죕뎣뺭펪맜샭럑폃,폃폚맜샭죋풱뗄릤뫍냬릫럑폃뗈죕뎣뺭펪뾪횧ꆣ죧맻죕뎣뺭펪뾪횧뎬맽풼뚨뗄뷰뛮,늻퓙쇭탐횧뢶ꆣ헢훖붫죕뎣뺭펪맜샭럑폃쫂쿈만뚨쿂살뗄ꆰ돐냼쪽ꆱ랽램,믡듙쪹횰튵뺭샭죋뺫볲믺릹,샷탐뷚풼,복짙퓚횰쿻럑ꆣ쿠뇈횮쿂,릫쮾훆쓚늿짨훃뗄믺릹뇈뷏엓듳,뚭쫂믡ꆢ볠쫂믡ꆢ뺭샭쫒벰쿂쫴룷늿쏅뗄짨솢뫍퓋탐뚼탨튪듳솿뗄뺭럑뾪횧,듓뛸퓶볓쇋맜샭돉놾\[5\]ꆣ(뛾)죚폅쫆쫗쿈,폐쿞뫏믯훆평폚뷏뫃뗘뷢뻶쇋ꆰ캯췐ꆪ듺샭ꆱ컊쳢,룸웕춨뫏믯죋틔벫듳뗄벤샸뫍풼쫸,쓜ퟮ듳쿞뛈뗘놣횤웕춨뫏믯죋틔폐쿞뫏믯죋뗄쫕틦ퟮ듳뮯캪잰쳡ힷ쟳ퟔ벺뗄쫕틦ꆣ헢튲뻍벫듳뗘틖훆쇋뗀뗂럧쿕,쪹폐쿞뫏믯죋퓚놾쯹폐좨뫍뺭펪좨쿠럖샫ힴ첬쿂,뛔웕춨뫏믯죋뗄탅죎돌뛈듳듳쳡룟,캪춶헟뷢돽쇋틲웕춨뫏믯죋뗄뗀뗂럧쿕뛸떼훂놾쫜쯰뗄뫳맋횮폇,ퟮ듳쿞뛈뗘뗷뚯쇋춶헟뗄훷뚯탔뫍믽벫탔ꆣ웤듎,럧쿕춶틔룟뿆벼캪훷튪춶쇬폲,룟샻죳쫇컼틽춶헟뗄훘튪틲쯘ꆣ럧쿕웳튵튻떩퓋ퟷ돉릦,춶헟뿉틔믱뗃뇈춶뒫춳쇬폲룟탭뛠놶뗄샻죳,뛸룟뿆벼뗄늻좷뚨탔쯹듸살뗄룟럧쿕쓜놻폐쿞뫏믯훆뛀쳘뗄훆뛈짨볆뫍뫏샭뗄ퟩ횯낲업늿럖뗖쿻ꆣ퓙듎,춶헟횻탫틔돶뛮캪쿞돐떣폐쿞퓰죎,쿠뇈웰춬퇹돐떣폐쿞퓰죎뗄막럝릫쮾뫍폐쿞퓰죎릫쮾,믱뗃뗄샻죳룼뛠ꆣퟮ뫳,뫜뛠맺볒맦뚨믺릹춶헟ퟷ캪폐쿞뫏믯죋쫇쏢쮰쪵쳥,믺릹춶헟늻탨붻쓉웳튵쯹뗃쮰,헢쪹퇸샏믹뷰ꆢ놣쿕믹뷰뗈믺릹춶헟볓죫폐쿞뫏믯죋뗄탐쇐,벫듳뗘삩듳쇋폐쿞뫏믯훆뷰뗄살풴쟾뗀ꆣ쯄ꆢ쿻돽컒맺럧쿕춶믺릹쪵쪩폐쿞뫏믯훆뗄램싉헏낭ퟛ뫏뾼싇컒맺럧쿕춶믺릹쿖폐ퟩ횯탎쪽뫍폐쿞뫏믯훆벤샸풼쫸믺훆뗄폅쫆,폐뇘튪붫폐
86헣붭듳톧톧놨(죋컄짧믡뿆톧냦)뗚35뻭쿞뫏믯훆틽죫컒맺럧쿕춶믺릹,떫헦헽쪵쪩웰살좴폐뫜뛠헏낭,쳘뇰쫇램싉랽쏦뗄헏낭ꆣ컒맺뗚튻볒폐쿞뫏믯훆럧쿕춶믺릹ꆪꆪꆪ2000쓪돉솢뗄놱뺩쳬싌뒴튵춶훐탄뗄?헛,늻쫇틲캪탂붮쳬튵춶탐캪캥램,뛸쫇맺볒뗄램싉램맦쎻폐쏷좷맦뚨ꆰ폐쿞뫏믯ꆱ헢훖웳튵탎쪽,횤볠믡쎻폐램싉뿉틔풮틽,튲컞램볠맜탂붮쳬튵퓚ꆰ쳬싌ꆱ뗄춶ꆢ닆컱ꆢ쓉쮰ꆢ쫕틦럖엤ꆢ탅쾢엻슶뗈탐캪ꆣ탂붮쳬튵튲퓚웤쓪놨훐돆ꆰ평폚ꆮ폐쿞뫏믯ꆯ쎻폐쏷좷뗄램싉틀뻝,캪쇋맦랶릫쮾탐캪,뻶뚨듓놱뺩쳬싌뒴튵춶훐탄뎷ꆱꆣ평듋뿉틔뾴돶,램싉램맦풼쫸쫇ퟨ낭폐쿞뫏믯훆돉캪컒맺럧쿕춶믺릹ퟩ횯탎쪽뗄쫗튪틲쯘,틲듋폐뇘튪뛔쿖탐램싉램맦뷸탐탞룄믲뚩솢탂뗄램맦ꆣ(튻)ꆶ쏱램춨퓲ꆷ폫ꆶ뫏믯웳튵램ꆷ훐뗄램싉헏낭폐쿞뫏믯훆튪쟳뫏믯죋춨맽뚩솢쫩쏦뫏믯킭틩,쏢돽늿럖뫏믯죋뗄뺭펪맜샭좨샻뫍뛔뫏믯햮컱뗄컞쿞퓰죎,쪹웤돉캪뷶틔돶뛮캪쿞뗄폐쿞뫏믯죋ꆣ떫룹뻝컒맺ꆶ쏱램춨퓲ꆷ뗚30쳵맦뚨ꆰ:룶죋뫏믯쫇횸솽룶릫쏱내헕킭틩,룷ퟔ쳡릩뷰ꆢ쪵컯ꆢ벼쫵뗈뫏믯뺭펪,릲춬샍뚯ꆱ;뗚35쳵맦뚨:ꆰ뫏믯뗄햮컱,평뫏믯죋내헕돶뇈샽믲헟킭틩뗄풼뚨,틔룷ퟔ뗄닆닺돐떣쟥뎥퓰죎ꆱꆣ컒맺ꆶ뫏믯웳튵램ꆷ튲뷶쿞폚뛔웕춨뫏믯웳튵ퟶ돶맦뚨,죧뗚2쳵맦뚨ꆰ:뫏믯웳튵쫇횸틀헕놾램퓚훐맺뺳쓚짨솢뗄평룷뫏믯죋뚩솢뫏믯킭틩,릲춬돶,뫏믯뺭펪,릲쿭쫕틦,릲떣럧쿕,늢뛔뫏믯웳튵햮컱돐떣컞쿞솬듸퓰죎뗄펯샻탔ퟩ횯ꆱ;뗚19쳵맦뚨ꆰ:뫏믯웳튵뗄닆닺평좫쳥뫏믯죋틀헕놾램릲춬맜샭뫍쪹폃ꆱ;뗚39쳵맦뚨ꆰ:뫏믯웳튵뛔웤햮컱,펦쿈틔웤좫늿닆닺뷸탐쟥뎥ꆣ뫏믯웳튵닆닺늻ퟣ쟥뎥떽웚햮컱뗄,룷뫏믯죋펦떱돐떣컞쿞솬듸퓰죎ꆱꆣ평듋뿉볻,룹뻝컒맺쿖폐램싉,쯹폐뫏믯탐캪뚼횻쓜놻쫓캪웕춨뫏믯탐캪,쯹폐뫏믯죋횻쓜ퟷ캪웕춨뫏믯죋뛔뫏믯뗄햮컱뢺솬듸컞쿞퓰죎ꆣ틲듋,튪퓚컒맺럧쿕춶믺릹쪵탐폐쿞뫏믯훆,쫗쿈펦뛔ꆶ쏱램춨퓲ꆷ뫍ꆶ뫏믯웳튵램ꆷ폐맘쳵뿮뷸탐탞룄뫍늹돤,믲떥뛀훆뚨ꆶ폐쿞뫏믯웳튵램ꆷ,폫듋춬쪱,뮹펦훆뚨ꆰ폐쿞뫏믯훆킭틩랶놾ꆱ냯훺폐쿞뫏믯훆웳튵훆뚨뫏믯킭틩\[6\]ꆣ(뛾)ꆶ놣쿕램ꆷꆶꆢ짌튵틸탐램ꆷ폫ꆶ퇸샏믹뷰맜샭냬램ꆷ훐뗄램싉헏낭럧쿕춶뷰뗄살풴뷡릹,쫇뻶뚨럧쿕춶믺릹쪵탐뫎훖웳튵ퟩ횯탎쪽뗄훘튪풭틲ꆣ퓚쏀맺,퇸샏믹뷰ꆢ놣쿕믹뷰틔벰뷰죚믺릹뷰쫇럧쿕놾뗄훷튪쳡릩헟,낲좫탔ꆢ룟쫕틦탔쫇헢킩믺릹춶헟뗄튪쟳,헢뻍쪹뗃싺ퟣ헢킩튪쟳뗄폐쿞뫏믯훆돉캪쏀맺럧쿕춶믺릹뗄훷튪ퟩ횯탎쪽ꆣ떫컒맺ꆶ놣쿕램ꆷ맦뚨ꆰ:놣쿕릫쮾뗄뷰늻뗃폃폚짨솢횤좯뺭펪믺릹,늻뗃폃폚짨솢놣쿕튵틔췢뗄웳튵ꆱ,헢쪵볊짏쫇냑놣쿕믹뷰업돽퓚럧쿕춶쫐뎡횮췢ꆣ컒맺ꆶ짌튵틸탐램ꆷ뷻횹듓쫂탅췐춶튵컱ꆶ,퇸샏믹뷰맜샭냬램ꆷ튲뷻횹퇸샏믹뷰닎폫럧쿕뷏듳뗄춶쿮쒿ꆣ떱좻,컒맺짏쫶램싉맦뚨훷튪믹폚뷰낲좫탔뾼싇,떫쏀맺뗄쪵볹뇭쏷,퓊탭튻뚨뇈샽뗄퇸샏믹뷰ꆢ놣쿕뷰뫍틸탐ퟔ폐뷰(5%)닎폫럧쿕춶,늻뷶쓜럖즢럧쿕,뛸쟒욽뻹쫕틦튲룟폚틸탐듦뿮뫍릺싲맺햮ꋙꆣ틲듋,펦뛔컒맺쿖탐램싉램맦뷸탐탞뚩,좡쿻뛔헢킩믺릹춶헟뗄춶쿞훆,퓊탭튻뚨뇈샽뗄뷰닎폫럧쿕춶ꆣ(죽)탞룄풭폐램싉램맦믲뚩솢탂뗄램싉램맦뗚뻅뷬좫맺죋듳웚볤,닆뺭캯풱믡퓸룹뻝듺뇭틩낸뫍붨틩웴뚯쇋ꆶ뫏믯웳튵램ꆷ뗄탞룄릤ퟷ,쓢춨맽탞룄룃램퓶볓폐쿞뫏믯훆뗄쓚죝,뫳틲뛠랽쏦풭틲캴쓜쳡붻짳틩ꆣ뗚쪮뷬닆뺭캯풱믡돉솢뫳,ꋙ퓚1975쓪훁1997쓪헢23쓪볤,럧쿕춶뗄욽뻹믘놨싊캪1618%,풶풶룟폚쏀맺춬웚틸탐듦뿮뫍맺햮뗄샻싊ꆣ
뗚2웚얣몣쾼:컒맺럧쿕춶믺릹벤샸풼쫸믺훆퇐뺿87죔퓚볌탸헢랽쏦뗄릤ퟷ,늢붨틩붫ꆶ뫏믯웳튵램ꆷ탞룄쇐죫뗚쪮뷬죋듳뎣캯믡뗄솢램맦뮮ꆣ떫뫍뿬쯙랢햹뗄럧쿕춶쫂튵쿠뇈,램싉뗷헻늽랥뮹쫇뷏싽ꆣ뛸튻킩뗘랽틑뺭뷸탐쇋폐틦뗄뎢쫔뫍첽쯷,죧1994쓪짮?쫐죋듳뎣캯믡춨맽쇋ꆶ짮?뺭볃쳘쟸뫏믯쳵샽ꆷ,룃쳵샽뗄뗚죽헂맦뚨쇋폐쿞뫏믯웳튵훆뛈,헢쫇컒맺뗘랽솢램뗚튻듎돐죏폐쿞뫏믯뗄뫏램탔;2001쓪2퓂21죕뫍10퓂26죕,놱뺩쫐뫍몼훝쫐럖뇰냤늼쇋ꆶ폐쿞뫏믯맜샭냬램ꆷ뫍ꆶ몼훝쫐헾뢮폐쿞뫏믯맜샭퓝탐냬램ꆷꆣ헢킩뗘랽솢램컞틉랴펳쇋폐쿞뫏믯훆뻟폐뷏잿뗄쿖쪵틢틥,쮵쏷퓚좫맺탔솢램훐춳튻맦랶폐쿞뫏믯훆쿔뗃폈캪훘튪ꆣ컥ꆢ볓잿폐쿞뫏믯훆솽룶훷쳥붨짨(튻)볓잿폐쿞뫏믯죋붨짨,췘뿭럧쿕놾돯쟾뗀럧쿕놾뗄살풴뷡릹쫇뻶뚨럧쿕춶믺릹쪵탐뫎훖웳튵ퟩ횯탎쪽뗄훘튪틲쯘ꆣ컒맺럧쿕놾훐80%틔짏뗄뷰살풴폚룷벶헾뢮닆헾탔늦뿮뫍맺폐웳튵춶,헢뻍뻶뚨쇋컒맺럧쿕춶믺릹ퟩ횯탎쪽듳뛠쫇쫂튵탍릫쮾ퟩ횯탎쪽ꆣ평폚럧쿕춶쫇튻훖틔펪샻캪쒿뗄뺺헹탔춶믮뚯,쫇죚뫏쇋뷰죚놾뫍죋솦놾뗄좨틦탔춶,틲듋펦틔쏱볤놾캪훷쳥ꆣ죧쏀맺퓚1978쓪뷸탐쇋놾쯹뗃쮰룄룯,쪹퇸샏믹뷰ꆢ듳톧뫍듈짆믺릹뗈춶헟돉캪쏢쮰쪵쳥,늢쟒탞룄쇋ꆶ맍풱쫕죫놣헏램ꆷ(벴ꆶERISA램낸ꆷ)훐ꆰ뷷짷춶헟ꆱ쳵뿮,뷢돽쇋뛔퇸샏믹뷰퓚럧쿕춶춶죫뷰뗄쿞훆ꆣ1979쓪,쏀맺샍릤늿뛔듋ퟶ쇋뷢쫍,횸돶횻튪늻췾킲헻룶춶ퟩ뫏뗄낲좫,믹폚춶럖즢풭퓲뗄춶탐캪쫇퓊탭뗄ꆣ폚쫇퇸샏믹뷰듳솿펿죫럧쿕춶쇬폲,룄뇤쇋럧쿕춶뗄뷰릩룸쟩뿶뫍럧쿕춶믹뷰뗄뷡릹(볻뇭1),떼훂쇋럧쿕춶뗄믺릹뮯,뗬뚨쇋폐쿞뫏믯훆퓚럧쿕춶쇬폲뗄훷떼뗘캻ꆣ뛸듓20쫀볍70쓪듺쒩떽90쓪듺쒩쏀맺럧쿕춶뷰랢짺뇤뮯뗄헢뛎쪱볤,헽쫇쏀맺럧쿕춶믺릹ퟩ횯탎쪽뇤캪폐쿞뫏믯훆햼뻸뛔훷떼뗘캻뗄쪱웚ꆣ뇭1ꆡ쏀맺럧쿕춶뷰살풴뇤뮯쟩뿶럧쿕춶뷰살풴쓪럝19781980198719911992199319941998돯뛮(냙췲쏀풪)42712455378152920112545476624300퇸샏믹뷰(%)1530394242594760릫쮾(%)룶죋뫍볒춥(%)틸탐뫍놣쿕릫쮾(%)맺췢뷰뫍웤쯻(%)뻨퓹믹뷰(%)ꆡꆡꆡ쇏살풴:PaulGompers(1999),JournalofVentureCaptital,March,1999ꋙ\[7\ꆣ]쒿잰컒맺짧놣믹뷰ꆢ놣쿕믹뷰뗈뮹캴헒떽폐킧뗄춶쟾뗀ꋚꆣ뷘횹2004쓪4퓂,컒맺짧놣믹ꋙ1978쓪떽1994쓪뗄돯뛮내헕1994쓪냙췲쏀풪볆쯣,업돽쇋춨믵엲헍뗄펰쿬ꆣꋚ죧맻내돉놾볆볛램볆쯣,2003쓪좫맺짧믡놣헏믹뷰쫕틦싊캪2171%,쯤좻룟폚춬웚틸탐듦뿮뫍맺햮쫕틦싊,떫쫇죧맻힢틢떽쒿잰뗄춨믵엲헍싊틑뺭듯떽3%,쓇쎴짧놣믹뷰뗄쫕틦싊뻍뇤캪뢺ꆣ닎볻컄,쯯붡랼ꆶ짧놣횮폇ꆷ,퓘폚ꆶ뺭볃맛달놨ꆷ,2004쓪5퓂3죕훁5퓂10죕ꆣ
88헣붭듳톧톧놨(죋컄짧믡뿆톧냦)뗚35뻭뷰틑듯떽1400틚풪,쯤좻맺볒맦뚨40%뗄럇닆헾늦뿮뷰뿉춶죫막쫐,떫퓚훐맺막쫐늻맦랶ꆢ늻뺰웸뗄쟩뿶쿂,놣횵퓶횵톹솦뫜듳ꆣ훐맺놣볠믡춳볆,떽2004쓪3퓂뗗캪횹,컒맺놣쿕ퟜ닺듯떽9980틚풪,웤훐틸탐듦뿮4844틚풪,햼ퟜ닺뗄%ꆣ쏦뛔맺췢놣쿕릫쮾뗄뷸죫뫍뺺헹,놣쿕믹뷰춬퇹쏦쇙놣횵ꆢ퓶횵뗄뻞듳톹솦,놣볠믡틑뺭돶첨쇋튻쾵쇐듫쪩뷸튻늽췘뿭놣쿕믹뷰퓋폃쟾뗀,떫좴쎻폐쏷좷뇭쪾놣쿕뷰뿉틔춶죫럧쿕춶쇬폲ꆣ쇭췢,떽2004쓪1퓂뗗,컒맺틸탐뒢탮듦뿮튲폐11163췲틚풪ꆣ죧뫎룸뻞뛮짧놣믹뷰ꆢ놣쿕믹뷰뫍뒢탮듦뿮ꆰ쿻훗ꆱ,쿠뛔늻뺰웸뗄막쫐뫍쫕틦쿠뛔뷏뗍뗄맺햮,럧쿕춶컞틉폐ퟅ뻞듳뗄폕믳ꆣ틲듋,튪탞룄쿖탐램싉램맦,쪹짧놣믹뷰ꆢ놣쿕믹뷰뗈쓜틔폐쿞뫏믯죋뗄짭럝볓죫럧쿕춶믺릹,늢쟒돉캪쏢쮰쪵쳥ꆣ뛸틑뺭췆돶뗄훐킡웳튵냥뿩,캪럧쿕춶뗄췋돶쳡릩쇋폐킧뗄춾뺶,복짙쇋럧쿕춶뗄럧쿕,캪짧놣믹뷰ꆢ놣쿕믹뷰뗈믺릹춶헟뷢돽쇋뫳맋횮폇ꆣ듋췢,컒맺럧쿕춶짐뒦폚웰늽뷗뛎,죋쏇뛔럧쿕춶짐캴폐뷏캪좫쏦뗄죏쪶,헢쫇ퟨ낭쏱볤놾뷸죫럧쿕춶쇬폲뗄쮼쿫,뇘탫춨맽튻뚨듫쪩볓틔뷢뻶ꆣ(뛾)볓잿웕춨뫏믯죋붨짨,엠퇸뫏룱뗄럧쿕춶볒웕춨뫏믯죋쫇폐쿞뫏믯훆럧쿕춶믺릹뗄죕뎣뺭펪맜샭헟,뒦폚럧쿕춶솴쳵뗄훐탄뮷뷚,솽춷럖뇰솬뷡ퟅ럧쿕춶헟뫍럧쿕웳튵,웤쯘훊룟뗍쫇뻶뚨럧쿕춶돉릦폫럱뗄맘볼틲쯘ꆣ틲듋,튪췆맣폐쿞뫏믯훆뻍뇘탫붨솢럧쿕춶횰튵뺭샭죋쫐뎡,엠퇸뫏룱뗄웕춨뫏믯죋ꆣ튻냣살쮵,웕춨뫏믯죋뇘탫펵폐틔쿂쯘훊:솼뫃뗄탅폾ꆢ컈뚨뗄탄샭쯘훊;잿쇒뗄쫂튵탄뫍퓰죎룐;쏴죱뗄뚴달솦뫍ힼ좷뗄에뛏솦;솼뫃뗄맜샭뫍킭뗷쓜솦;뿭맣뗄횪쪶쏦;뻟폐풤볻캴살뗄쓜솦;튪폐ힷ쟳룟믘놨뗄폻췻뫍돐떣룟럧쿕뗄쓜솦뗈ꆣ헢퇹뗄죋닅퓚컒맺뮹쿠떱?랦,펦믽벫엠퇸ꆣ뛔듋뿉틔닉좡틔쿂듫쪩:11컼틽췢맺폅탣뗄럧쿕춶횰튵뺭샭죋볓죫컒맺럧쿕춶믺릹,춬쪱톡엉튻엺폐튻뚨쪵볹뺭퇩뫍랢햹잰춾뗄맜샭죋풱돶맺뷓쫜엠통ꆣ21듳솦랢햹럧쿕춶톯뫍맜샭릫쮾,캪럧쿕춶헟움맀뫍췆볶럧쿕춶쿮쒿,늢뷓쫜춶헟캯췐,뛔쿮쒿뷸탐맜샭ꆣ31붨솢럧쿕춶횰튵뺭샭죋쫐뎡ꆣ횰튵뺭샭죋쫐뎡뿉틔뛔뺭샭죋탎돉췢늿짹폾풼쫸,쪹헦헽폅탣뗄맜샭죋닅췑펱뛸돶ꆣ[닎ꆡ뾼ꆡ컄ꆡ쿗]\[1]샮뫃뫃,쯯뿋죎.럧쿕춶톧\[M\]첫.풭:즽컷뺭볃돶냦짧,2002.\[2]놫횾킧.럧쿕춶쒣쪽뗄뇈뷏폫톡퓱\[J\]춶.퇐뺿.2003,(2):33-38.\[3]돉쮼캣,엋돉쇒,헅뗂.럧쿕춶폫탂뺭볃놦뗤\[M\]놱.뺩:훐맺퇔쪵돶냦짧,2000.\[4]튦ퟴ컄,돂쿾붣.폐쿞뫏믯럧쿕춶쒣쪽쿂뗄캯췐듺샭맘쾵럖컶\[J\]풤.닢,2003,(2):59-61.\[5]폡ퟔ평,샮쯉쳎,헔죙탅.럧쿕춶샭싛폫쪵볹\[M\]짏.몣:짏몣닆뺭듳톧돶냦짧,2001.\[6]헅폂.컒맺럧쿕춶믺릹뗄탎쪽톡퓱뫍뛔닟\[J\]춶.퇐뺿,2003,(7):28-31.\[7]PaulGomper,\[J\].JournalofFinancialEconomics,1999,(51):3-44.[퓰죎뇠벭ꆡ탬샶뺲]
뗚2웚얣몣쾼:컒맺럧쿕춶믺릹벤샸풼쫸믺훆퇐뺿89AStudyofIncentiveandConstraintMechanismofVentureCapitalInvestmentInstitutionsinChinaNIUHai2xia(DepartmentofInternationlEconomyandTrade,ZhejiangUniversity,Hangzhou310027,China)Abstract:Inordertosolveincentiveandconstraintproblemsbetweencapitalprovidersandventurecapitalists,venturecapitalistsandventurefirms,;limitedpartnershiphasfixedduration;andthereareexplicitcontractprovisionstoconstrainthebehaviorofgeneralpartners;,combinedwithadvantagesofgeneralpartnershipfirms,havecircumventedsophisticatedbalancemechanismofcorporateinstitutions,therefore,,,venturecapitalinvestmentinstitutionsinChinaarebasicallybusinesscorporateunderpublicundertakingsystem,whichnotonlymakesitdifficulttoresolvepropertyrightsagencyrelationshipbetweenventurecapitalprovidersandventurecapitalists,,mainsolutiontoincentiveandconstraintproblemsbetweenventurecapitalprovidersandventurecapitalistsistoestablishlimitedpartnershipsystem,,legalbarrierswhichwouldaffecttheestablishmentoflimitedpartnershipsystemofventurecapitalinvestmentinstitutionssuchasthosefoundinGeneralRulesofCivilLaw,PartnershipEnterpriseLaw,InsuranceLaw,CommercialBanksLawandAdministrationMeasuresofPensionFunds,,:VentureCapitalInvestmentInstitutions;LimitedPartnership;IncentiveandConstraintMechanismꆡꆡ놾뾯톶:2004쓪12퓂17죕ꆰ,램톧좺펢믡ꆱ톧쫵싛첳퓚헣붭듳톧컷쾪킣쟸뻙탐ꆣ맺볒볬달맙톧풺뢱풺뎤헅횾쏺뷌쫚ꆢ뮪쓏샭릤듳톧램톧풺풺뎤룰뫩틥뷌쫚ꆢ훐맺짧믡뿆톧풺램톧퇐뺿쯹쇵ퟷ쿨퇐뺿풱ꆢ맣컷쪦랶듳톧램짌톧풺쫩볇볦뢱풺뎤훜쫀훐뷌쫚ퟷ캪쳘퇻볎뇶돶쾯쇋싛첳,늢ퟷ쇋퇝붲ꆣ톧쫵싛첳평헣붭듳톧램톧풺쿄솢낲뷌쫚훷돖,닎폫놾듎톧쫵싛첳뗄뮹폐헣붭듳톧램톧풺뢱풺뎤쯯킦쿀뷌쫚ꆢ헣붭듳톧퇇훞램싉퇐뺿훐탄훷죎쇖살뷌쫚틔벰헣붭듳톧램톧풺뗄늿럖뷌쪦ꆣ쳘퇻볎뇶뻍ꆰ램훎뛔훐맺쿖듺뮯뗄틢틥ꆱꆢꆰ램훎뗄뺫짱폫쳘헷ꆱꆢꆰ퓚훐맺쪵쿖램훎뗄슷뺶폫랽램ꆱꆰꆢ훐맺에샽훆뛈뗄룄룯ꆱ뗈컊쳢ퟷ쇋훷쳢랢퇔,폫믡쪦짺튲뻍헢킩컊쳢뷸탐쇋짮죫뛸맣랺뗄랢컊폫첽쳖ꆣ
