亚当·斯密：国富论·第V篇第I章·第1717段

When those companies do not trade upon a joint stock, but are obliged to admit any person, properly qualified, upon paying a certain fine, and agreeing to submit to the regulations of the company, each member trading upon his own stock, and at his own risk, they are called regulated companies. When they trade upon a joint stock, each member sharing in the common profit or loss, in proportion to his share in this stock, they are called joint-stock companies. Such companies, whether regulated or joint-stock, sometimes have, and sometimes have not, exclusive privileges.

出处： https://www.gutenberg.org/ebooks/3300
定位：Book V, Chapter I, paragraph 1717 · 核对日期：2026-10-19 · 核验：逐字核对

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