CAJ | 학술논문

“那路奎”是早期亚述长途贸易的主融资形式。每宗“那路奎”融资规模大，投资人仅需对资金负有限责任，但可定期分红，并可自由转让投资份额；“经理人”长期自由支配资金，享有独立经营权，有助于实现投资利润的最大化。“那路奎”资金筹集和经营模式具有近代“股份公司”的某些特征。它在一定程度上修正了古代社会个人资本有限性与工商业革命性发展存在难以调和的矛盾的正统观点。
“나로규”시조기아술장도무역적주융자형식。매종“나로규”융자규모대，투자인부수대자금부유한책임，단가정기분홍，병가자유전양투자빈액；“경리인”장기자유지배자금，향유독립경영권，유조우실현투자리윤적최대화。“나로규”자금주집화경영모식구유근대“고빈공사”적모사특정。타재일정정도상수정료고대사회개인자본유한성여공상업혁명성발전존재난이조화적모순적정통관점。
Naruqqu was the dominating mode of financing the long-distance trade in Early Assyria. In every naruqqu, which could raise much money, the investors undertook limited responsibility, but they could be offered their regular dividend and could transfer their shares freely if they wished; the managers could administrate the loans for a long period of time by their own which might contribute to maximizing their profit. The mode was similar to the financing way of modern joint stock companies, and it amends the orthodoxy to some extent that there was an ever lasting eradicating controversy between the finiteness of personal capital and revolutionary development of industry and commerce in ancient world.