英文原文：FINANCIALCONTROLOFLARGE-SCALEENTERPRISEBTherehasbeenmuchdiscussioninrecentyearsaboutthecontrolofthelargecorporation.1Wehearagreatdealaboutconcentrationofcontrol,separationofownershipandcontrol,controlbybankingandotherfinancialinterests,andsoon.Oneofthemoststrikingcharacteristicsofthewritingsinthisfieldisthevaguenessthatsurroundsthefrequentlyverylooseuseoftheword"control."Surprisinglylittlehasbeensaidaboutthecontentandnatureofcontrol(inrelationtocorporateactivities),andlittle,ifany,attempthasbeenmadetodistinguishbetweenthepossessionofpower,ontheonehand,andtheexerciseofcontrolarisingfromthepossessionofpower,ontheother.Norhastherebeenanysystematicefforttorelatethecontrolconceptsimpliedinvariousstudiesofcorporateorganizationtotheactivecontrolfunctionoftheentrepreneurwhichissupposedlynecessarytotheefficientworkingofoureconomicsystem.Ishallattemptinthispapertodispelsomeoftheambiguitynowsur-roundingdiscussionsofcorporatecontrol.Ipropose,inparticular,toex-aminethepowerpossessedbyfinancialgroupsandtheextenttowhichthispoweristranslatedintotheexerciseofanactualandactivecontrolovertheproductiveprocess.2I.EntrepreneurialControlandtheLargeCorporation1IamindebtedtotheHarvardUniversityCommitteeonResearchintheSocialSciencesforfinancialaidincarryingonastudyofmodernbusinessleadership,oneaspectofwhichisdealtwithinthepresentpaper.2Therehasbeensomebrieftreatmentofthequestion:Whathappenstotheentrepreneurinthelargecorporationwhenownershipisdivorcedfromcontrol?Cf.R.A.Gordon,"StockholdingsofOfficersandDirectorsinAmericanIndustrialCorporations,"QuarterlyJournalofEconomics,L(1936),pp.652-55,andthereferencestherecited;alsoB.W.Lewis,"TheCorporateEntrepreneur,"ibid.,LI(1937),pp.535-44,andR.A.Gordon,"Enterprise,Profits,andtheModernCorporation,"inExplorationsinEconomics,pp.306-16.Ingeneral,specialistsincorporateorganizationhavepaidlittleattentiontothetheoreticalimplicationsoftheirwork,whiletheorists,onthispointasonothers,havenottakensufficientcognizanceofthedetailsofthecontemporaryinstitutionalsetting.Inassayingthenatureandextentof"financialcontrol,"wemusthaveclearlyinmindwhatwemeanby"control."Inparticular,whatdoes"con-trol"meanintermsofactivedirectionoftheproductiveprocess,andhowdoesitrelatetothevariousaspectsofthedynamicleadershipthathasbeenascribedtotheentrepreneurofeconomictheory?Bettertojudgetheeco-nomicsignificanceoftheinfluenceoffinancialgroupsoncorporateenter-prise,Ishallthereforefirstbrieflyconsiderthenatureofwhatmaybecalled"entrepreneurialcontrol,"particularlyassuchcontrolmaymanifestitselfinthelargecorporation.Whateverthenumberofagentsorfactorsco-operatinginproduction,andwhateverthelegalformswhichbusinessenterprisesmayassume,jointproductionforamarketinasystemcharacterizedbycomplexdivisionoflaborandcontinualchangerequiresthedirectingandunifyingforceofbusinessleadership.Thisfunctionofleadership,whichinvolvesforesight,planning,andactivedecision-makingintheformationofpolicies,Iproposetocallthefunctionofentrepreneurialcontrol.Sincetheproductiveprocessisdividedintounits-thatis,businessfirms-theexerciseofthisfunctioninvolvescontroloveranddirectionoftheactivitiesofthefirm.Entre-preneurialcontrol,asthusdefined,isanactiveconcept;itimpliestheexerciseofacertaintypeofleadership,notmerelythepossessionofcertainpowers.Theabilitytoexercisesuchcontroloveranyfirmmaybeobtainedinanumberofways,ofwhichleg...
