SURE: Shizuoka University REpository http://ir.lib.shizuoka.ac.jp/ Title Author(s) Citation Issue Date URL Version Basic data source for the examination of corporate dynamics under European economic integration Ando, Ken-ichi Economic review, Shizuoka University. 16(3), p. 63-73 2012-02-16 http://dx.doi.org/10.14945/00006663 publisher Rights This document is downloaded at: 2015-01-31T04:35:46Z "e cfdff&e e d fecf2cffe e f e 234() 56 7 8 ÐÓ6 9 67 :Ô; Ð Ò< :;9 ÑÒÒ=6 >8 ?6 9 8 :?:<Ð :; @:; 6 9 Ò D ÓA?6 >8 Ð 7Ô?ÓÒ;BÔ; :@Ò6 ?ÒÐ :?:>8 Ð8 ?9 ÒC; 6 9 8 :? b8ÿ=f ! ee ( )( *+ , -./0 + 1 -*) j hi¿g ` k` kl¼l ol j hl i`h¾` kln l ¿g hi_j g m ¾ hn` klj _m `¼l p _¼l x` kln l m l _n p kh¾` kl hn \ g p \_¶g i¿p hip l n ig i¿` klp hn hn _` l¼\i_g p ml p hlhn l _i¼l g n g p _jm ` ½¼g l m x_i¼hj l¼_` _ g hn ` _i`` k_il ol n x_i¼` kl \m kh½j ¼lp hi¼½p ` l ¼_m l ¼hi` klp hip n l ` l_i¼n l p g m _i¼g i¾ hn _` g hithl ol n xg `g m_j m hl j j¶ihi` k_`` kll p hihg p mn l m l _n p kp _iih`p _n n \ ½n _jm p g l ip l m t¨½n ` kl n hn l x` kl_o_g j _j l h½`` kll Êl n g l i` _jl ` kh¼g ij _hn _` hn \j g ¶li_` n i_` g hi_j ¼_` __n l8½g ` l¼g ¾ ¾ l n l i`g i8½_j g ` \hil_¾ ` l n_ih` kl n x_i¼` khm lp hip l n ig i¿` klg i` l lphih\_n lih`mhkg ¿k8½_j g ` \_m` khmlh¾¼hlm` g philmtolig ¾` kl¾ g n m`` _m¶h¾ mn l m li`_½` khng m` hp hj j l p`` kl_n hn g _` l g i` l n i_` g hi_jl p hihg p mn h¾ l mm g himj g ¶l` kg _i ¼_` __i¼g i¾ hn _` g hi¾ hn` kln l m l _n p k½n hm l x½`` kg mg mih`l _m \` _m ¶t hip l n ig i¿½n hl l p hih\x` kl½n hm ` _`g m` kl_g im h½n p lh¾m ` _` g m ` g p mg ` kg ¼ln _i¿lh¾p _` l ¿hn g l mh¾` kl _`¼_` _l p hl mp h_n _j lhn l_i¼hn l Ô l p hih\_i¼¿l il n _j_` ` l n m tMkl½n hm ` g i` klm l¼_\m` kn h½¿k½ig ¾ \g i¿` kll ` kh¼hj h¿\_i¼` kl¾ hn _` tMkl½n hm` _`¼_` __n l l ¼_`` kln l ¿g hi_jk Ôl x` kli_` g hi_j xhn` klj hp _jk m ½© i_` g hi_j lj l ol j x_i¼ ¿l il n _j j \_¿¿n l ¿_` h\l i` xg i` ln i_` g hi_j _¶l½mli_j l` h¾ hj j h ` klp k_i¿l mh¾ x¾ hnlÊ_j lxq¤xlj ` n _im _p ` g himj g ¶l` n _¼l_i¼p _g ` _j¾ j hm½i¼l n` kl¼l ol j hl i`h¾Ô g i` l ¿n _` g hithl ol n x p g l i`¾ hn` kl½n hm l` hj hh¶_`` kl¼\i_g pm_`` klp hn hn _` lj lol j x_i¼ ` kl \_n lih`m½¾ ¾ g l m` kn h½¿ko_n g h½ml ` kh¼m ` kln l m l _n p kl n m` l i¼` h½i¼l n ` _¶l` kl8½_j g ` _` g oll g n g p _jm ` ½¼g ä `g ml ` ` l n` hp hg ilm ½p k8½_j g ` _` g ol_i_j \m g m j g ¶l8½l m ` g hii_g n l m xg i` l n og l m x_i¼m h¾ hn ` kt l p ` g ol g ` k` kl8½_i` g ` _` g olhil m tl n l xlp _im ½¿¿l m `` k_`` klh` l i` g _jm h½n p l¾ hn` kg mh D ä *e e d f f d cf ffe $f f cde Z c7'e f e ÿ( ( þ © þ ü © ff ff © S #*f f fe c e f0 7 e f d f e d e f fR cb# ¦ f f d c #*e c d f2c d c Ü8 # e e 5e e f e cf Þ ¦ §bf f þ ff ¦ e d c f f f d e f d f f e c d e e e f f2c f 4 e c f ÿ'e f e d1ff#)%f f ÿ ff fe e f & f f f f e fd e c # *e f fc c ff e fde f e f % ff e f e f( ffc e e þ ffffý S # f f e fe 2c f#f fÿR 7 ¤¥f ¦ §¨ ©ª ` hg iolm ` g ¿_` l` kl¼\i_g p m_`` klphn hn _` lj l ol jg m` kl¼_` _n hog ¼l ¼\` kl½n hl _i ol m_i_mm l mm l i`hi` kl[ l m ` n ½p` ½n g i¿[hig ` hnk [l tMkg mmkhn `l hn _i¼½ ¿g Y ¼_` _¾ hnh½n½i¼l n m` _i¼g i¿hi` kl¼\i_g p mh¾p hn hn _` lp k_i¿l t u ( ( )EFGH I*I+ 1 -*-JEKL .I+ I) ¨g n m `h¾_j j xg `mkh½j ¼ll k_m g ml ¼` k_`` klÔ k_mj hi¿kg m ` hn \h¾p hg ` l i`hi _` l¼\i_g p m tMkg m_¶l m` klÔ ` klm hp g _jg m m ½l m xkg p kg mp j hm l j \n l j _` l ¼g ` k` klp hn hn ¼g ¾ ¾ l n l ¼¾ n h h` kl nn l ¿g hi_jg i` l ¿n _` g him p kl l mm ½p k_m^¨Mx^x_i¼m hhik i¼hx g m kl ¼` kl½n hl_i¨h½i¼_` g hi¾ hn` klg n holl i`h¾j g og i¿ > ** ( l t i' (6 x` klÔ l m ` _j ( 6 l tMkg m _i¼hn ¶g i¿p hi¼g ` g himk ½n h¾ h½i¼l_m_h¼\` h¼l _jg ` km hp g _j_¾ ¾ _g n mk x' ` g g i¿h¾l m ` _j g m kg i¿` kl½n h¾ h½i¼g m8½g ` lg i` l n l m ` g i¿t¾ ` l n` kl¾ g n m `9g jkhp ¶g i' ( 6 H x klqhj ¼li¿lh¾p_g ` _j g m _mlj j_m` klmhh` k ½i` g jkli` klÔ k_¼li h\l¼` ¼l ol j hl i`h¾g ` mhig i` kl' ( * m xg `k_¼` h¾ _p lg ` k` klol n \¾ g n m `¿j h_jn l p l m m g hi_¾ ` l n p hi¼³ hn j ¼³ _n tMk_`j l ¼` klp hi¾ ½m g him_i¼p hi¾ j g p ` mh¾hj g p \n l _p ` g him¾ n h ` kl ` kll _` l m tMk½mx` kl_g i½n hm lh¾ n h` lp ` g hig m n l m m½n l` h` kll\il m g _i© [hil ` _n g m`¼l ` kl½n h¾ h½i¼g m` hn hog ¼l` klm p g l i` g ¾ g p¼_` _xg i¾ hn _` g hix_i¼_i_j \m g m¾ hn` klg n hol l i` ¶g i¿p hi¼g ` g him t h¾j g og i¿_i¼hn Mkl½n h¾ h½i¼g mp him ` n ½p ` l ¼g ` ko_n g h½mhn ¿_ig m _` g him_i¼_p ` g og ` g l m x_i¼hilh¾` kl g i¿ li` n lhi k_i¿lk [ l xkg pk_ml m` _j g m kl ¼g i> * *'g i g m` kl½n hl _i[hig ` hn hi_m ` kl½n h¾ h½i¼tMkl[ n hog ¼l m` klp h_i\n l m` n ½p ` ½n g i¿¼_` __i¼g i¾ hn _` g ` kl[ ¼_` _l ol n \¼_\x_j hi¿g ` kh` kl n mj g ¶l` klm l p ` hnn l m l _n p kx` kll Êp k_i¿lh¾l Êl n g l ip l x _` lg i` kll_n j \¼_\m_mj _` l n t¨hnlÊ_j lx _i¼m h¾ hn ` ktMkl[ ¼_` __mih`m h_p p ½n ` kl[ ¼_` _¼g ¼ih`n l hn `_i\p_m lh¾ hp n l _` g hig i>* * >x_i¼m khl ¼n l j _` g ol j \m _j j hp n l _` g hip _m l mp h_n l ¼g ` k hn l ¼½p ` g hig i> * * H_i¼> * * " thl ol n xih i½l nh¾ l ¼½p ` g hi_i¼p n l _` g hi_`` kll i¼ g `n l hn ` m` h` _jhn l` k_i' H x * * *p _m l mg ip j ½¼g i¿h` k hn h¾8 ½j \x> * ' 't ihn ¼l n` h_m m lm m` klm ` n l i¿` k_i¼l _¶il m mh¾[ ¼_` _xl_n l¿hg i¿` h j hh¶_`g `g ihn l¼l ` _g j t _g mn l hn ` l ¼_j hm `l ol n \¼_\x_i¼_j j` kl¼_` _g m_o_g j _j lhig ` mkhl _¿l t Mkl[ ¼_` `g mp hip ln ig i¿m hj l j \` kl h `n l hn ` m` kln l m ` n ½p ` ½n g i¿p_m l mx½`l½m `ih`g m` _¶lg Y u *f e e f e f e f d ff fd f2$5ÿ f f e e e 5ÿþ ff ¦ ¦ # # fc6f 6f 6e f&# # *fff f e 66 %%%# fc d c# fc *e f e f f2c d c f f fff ÿ%f fc/c f f d f2$5# 7 "e cfdff&e e d fecf2cffe e f e p ½` m\` klph_ig lmg i` kln g o_` lml p ` hn t_` kln x` kl[ ¼_` _g ip j ½¼l mih`hij \` kl l m ` n ½p ` ½n g i¿\` klp h_i\¾ n h o_n g h½m hn l ¼½p ` g hix½`_j m h` kl hp n l _` g hi¾ n h ` kln g hi© ' n g o_` lm l p ` hn m tMkl \g ip j ½¼l` khm lg i` kl½j g p_¼g ig m ` n _` g him l p ` hn x` hhtMklÊkg g ` m khm` klp j _m mg ¾ g p_` g hih¾l _pk¼_` _xkg p k½`g i6p_` l¿hn g lm x)` \l mh¾n l m` n ½p` ½n g i¿x h_i\n h¾ g j lg il _p kp _m lm khmhn l¼l ` _g jg i¾ hn _` g hi _i¼' "m l p ` hn m t¨½n ` kl n hn l x` klp l j \t g i` klkhl _¿l tMk½m xlp _ip hi¾ g n ` kln l m ` n ½p ` ½n g i¿p _m l_`` klp h_i\j l ol jn l p g m 2&e e e ! ¦2$5 f e f e d e e f ¦ Sc ff þSc ©S üS*fd f c c e ý Sf § S f 9 f e 0 S f 9 fc e f üS f ý S *fd f c c e f ¦ S4 f f c c e þ S c f ©S"7 c üS5< ýSd d e 68f e e §S f 0 S$f e 2 Sc ce ¦ S ec c f6d e e þ S c e © S2c e ü Se e f ef ý S)f 6 e % 7 § S) f 6 f c 0 S5cd c e D 2 S5e e 6/c e û S f f ef ¦ ff Sc e e e e ¦ ¦ S$ff f 6 ce f e e e f ¦ þ S$f e ¦ © S* 6 ce e ¦ ü S' e e e f cf-2$5 ff D b fcd c e e d c fe e fÿe f d e f f f2$5 ff# Mkl½ig 8½l il mmh¾` kl[ g m` kl¼_` _p hj j lp ` g hil ` kh¼hj h¿\xkg pkg m` kl_mg mh¾ m` kl> 6Ô l l nm` _` lm g ` mhim` n l i¿` k_i¼l_¶il m m tMklp holn _¿lh¾[ g i> * ' 'g j ½m^hn _\x_j ` kh½¿km hlp h½i` n g l ml n lg m m l ¼¼½l` h` kl¼_` _p hj j l p ` g hip n g ` l n g hitMkl g pg _jhil x½`¾ n h ` kll ¼g _n lhn ` m_`i_` g hi_j_i¼Ô ¼_` _g mih`p hj j l p ` l ¼¾ n h ` klh¾ ¾ l pg _j g ml ¼ j l ol j tMklp hn n l mhi¼li` mg il _pkp h½i` n \pkl p ¶` kl8½_j g ` \il m_l n m x` klm l phihg pn l m mx_i¼` klhij g ilm h½n pl ml oln \¼_\¾ n h >* * >tMklp n g ` l n g hi¾ hnp hj j l p` g hig m m ` g hi_¾ ¾ l p ` mhol n' * * hmhn' * Mh¾hn ¶¾ hn p lg i` klm g ` l ` k_`` kln l m ` n ½p ` ½n g i¿j _ig i8½l z j` kl¼_` _g m¾ hn _` ` l ¼g i` kl_holl i` g hil ¼p j _m m g ¾ g p _` g hi l j h\g i¿> *l hj lhnhn l tj z %e ff fe ff & f fÿ f ¦ ffff9 f e 6 f c e f f c f f # 7 Ð ¤¥f ¦ §¨ ©ª l ` kh¼t Mklm ` n l i¿` kmh¾` kl[ _n l` klm l l ¼\m ½j \h¾n l m ` n ½p ` ½n g i¿g i¾ hn _` g hixihg m m ½l l m m g i¿t h_n l ¼g ` k` klh¾ ¾ g p g _jm h½n p l m x` kl[ h¾n g o_p \x_i¼` kll _m \hij g il¼_` _n hp ¼_` _g m8½g ` l¾ _m `` hl½j g m kl ¼x_i¼g `` _¶lmhij \_¾ l ¼_\m¾ n h ` kl_iih½ipl l i` t l` kl_p` ½_j hn l ¼½p ` g hihnpn l _` g hi¼hl mih`hp p½n_`` kl` g g i¿h¾_iih½ipl l i` x g ip g m l ¼j _` l j \tMk_`_¶l mm hln hh ` kl_p ` ½_jl ¾ ¾ l p ` mh¾j _iil ¼n l m ` n ½p ` ½n g i¿h½j ¼ln l _j ¾ hnhn ¶l n £ mmg ¼l` hn l_n l¾ hng ` xl olig ¾` kl\_n lih`_j _\m_¾ ¾ l p` l¼¼g n l p ` j \tg ip l` kl n h ` kl½j g pl ¼g _x` kl n lg mih_` ` l nhin g o_p \g m m ½l mhnp hi¾ g ¼l i` g _j g ` \t ¼_` _g mp hj j l p ` l ¼¾ p hn ¼g i¿` h` klp hhip n g ` l n g _ i_¼¼g ` g hix` klhn g ¿g i_j¼_` _g mn hp l m m l ¼_i¼p _` l ¿hn g m l ¼_p _n h½i¼>)p h½i` n g lm x_i¼` kl[ ¼_` _g ml _mg j \¾ ½n ` klnn hp l mm l ¼hij g il tMk½m x` kl[ g _j` h_i_j \m l` klp h_i\¼\i_g p m` kn h½¿k` klp k_i¿lh¾ hmg ` k ¼_` _k_mm hlh` l i` ` kl_p ` ½_jp _½m l mt `` klm_l` g l xl½m `¶l lg ig i¼` kll _¶ilm m l mh¾` kl[ ¼_` _xkg p k_n l kl½n h¾ h½i¼ m hlg _m l mp _½m l ¼\` kll ` kh¼hj h¿\t!l p _½m lh¾` kl¼_` _p hj j l p ` g hil ` kh¼x` g ` m l j ¾n l p h¿ig m l m` k_`` kl[ ¼_` _k_m` kn l lg _m l m }` klm g l © g _m x` kl_i½¾ _p ` ½n g i¿© g _m x g _m tMklm g l © g _mg mp _½m l ¼\` kl' * *hnhn l hp n g ` l n g hixkg p k¿g ol m _i¼` klp h½i` n \© ll i` l n n g m l mk [m l` l i¼ ` kl` kn l m khj ¼` hp him ` n ½p `` kl¼_` _tMk½m xm _j j ©_i¼l ¼g ½© m g ih`` hlg ipj ½¼l ¼g i` kl[ ¼_` _t½l` h` klm _ln l _m hix` kl_i½¾ _p` ½n g i¿m l p` hng m l _m` klm l n og p lm l p ` hn m xg ikg p k[m_n lhn ln l n l m l i` _` g ol x hn lj g ¶l j \` hlp hol n l ¼xkl n h½j ¼lg mml¼¾ n h ` klphj j lp` g hitMkln l¾ hn lx` kl[ ¼_` _g mg _ml¼hn l¾ hn` kl _p ` ½n g i¿m l p ` hnholnh` kl n m t i_¼¼g ` g hix` kl_mhj ½` lm g lh¾'* * hm¼hlmih`k_ol _i½¾ hn l¼½p` g hig mhn l ` klm_ll_ig i¿m¾ hnl_pkph½i` n \t^_lj \x` klm_lmg lh¾ m g ¿ig ¾ g p _i`g _p `¾ hnm_j j lnp h½i` n g l m` k_ig ¿¿l nhil mxkg j l` klj _` ` l nk_olhn lg ¿ l hn l¼½p` g hi6pn l _` g hin h¿n _l` k_i` kl¾ hn l n t p h_ig l m` hp hi¼½p `' * *hnhn `` kl i¼l l ¼xg `g m¼g ¾ ¾ g p ½j `` hph_n l` kl m lh¾ ¾ ml ` ` g i¿l¾ ¾ l p ` m x½`` kg mg mj g ¶l j \` hm ½¿¿l m l Êg m ` l ip lh¾p h½i` n \© g _m t¨½n ` kl n hn l x` kln l¾ ln l iplh¾i_` g hi_jl ¼g _p hol n _¿lhi` kl hl¼g ¾ ¾ l n l i`¾ n h hilp h½i` n \` h_ih` kl n x_i¼` kg m p h_i\n l m ` n ½p ` ½n g i¿g mhg i` l ¼h½`` mx g m_j mh_p_½mlh¾ph½i` n \© g _mt¨g i_j j \x` kln lg m_ih` klnhmmg g j g ` \h¾g _mx` k_`g f& fÿf f 2 ec f f2$5 d e f9 f e f%e f 2 e ÿþ ff ¦ ff ÿ# ü û ! ý ¦ S #4 e % f e f c c e 2' d e f %f f þ ff ff þ ! þ ff ff üR f f c c f f f f df f f f e f e e d d f f f ÿ f7 f c f# 7 7 "e cfdff&e e d fecf2cffe e f e Ü_¿hh¼il Þ h© n l ¼½p ` g hig _m t!l p _½m lg `g mh¾ ` l im _g ¼` k_` m¾ hn` kll ¼g _g m__¼il m x \` k_i` kl hp n l _` g hit `g m¼g ¾ ¾ g p ½j ` ` kl hn l ¼½p ` g hig ¿k`l j jln l hn ` l ¼hn l¾ n l 8½l i` j ` h¿g ol` klp hip n l ` ll og ¼l ip l¾ hn` kg mg _m x½`` kl¾ hj j hg i¿l Ê_j lp _m l m_¶l½m` h¶l l ig i¼t ` kg mhg i`g Mkg mpk_` ln_¼lp j l _n` k_`` kl[ ¼_` _n hog ¼l m_½ig 8½l_i¼g i` l n l m ` g i¿¼_` _ l_j m hhg i` l ¼h½` thxl ¾ hn l n l ¾ j l p ` g i¿` klp h_i\£ m¼\i_g pp k_i¿l x½`m hlp hip l n im_n p himg ¼l n g i¿` klh` l i` g _jh¾[ ¼_` _xg `g mhn ` k` hp h_n lg `g ` kh` kl ng i¾ hn _` g hi pmg i` klÔt p hipl n ig i¿l j h\l i`¼\i_g ( ( ( )NIH 1 .1 + O-JEKL .I+ I) ¨hn` kl½n hm lh¾l Ê_g ig i¿` klo_j g ¼g ` \h¾[ ¼_` _xl_n ll o_j ½_` g i¿g `g ` kn l ¾ l n l ip l kl nm h½n pl xg t lt½n hl _iÈ_h½n¨hn p l½n ol \k Ȩl\` kl½n hm ` _` t ` h` kl¼_` _¾ n h h` ¶l ` x½`` klp h_n g m hi i¼l l ¼x` klȨg m` klhm `p hn l kl im g olm ` _` g m ` g p mh¾j _h½n_n l ` ll i` kl[ ¼_` __i¼` klȨg mih`_il _m\` _m ¶tMklȨ¼hlmih`n lhn `` kl h_i\j l olj xkg j l` kl[ ¼_` _g mih`` h` _jl j h\l i` l j h\l i`m g ` ½_` g hi_`` klp im khn ` x i½l nh¾` klph_i\g i8½l m` g hix½`` k_`_¾ ¾ lp ` l ¼\` kln lm ` n ½p ` ½n g i¿j _it ` kln l hn ` l ¼i½l n mp hip l n ig i¿ hm_n l¼g ¾ ¾ l n l i` j \p _` l ¿hn g m l ¼g ` kl _p kh` kl n t¼¼g ` g hi_j ½j j \p hol n[m xihn` klm l j ¾ © l j h\l ¼x½`` kl \_n lg ip j ½¼l ¼ ¼g ¾ ¾ g p ½j ` \g m` kl[ ¼hl mih`¾ klp h_n g m hix g i` klȨtMkl n l ¾ hn l xlk_ol` hn l © _n n _i¿l` kl¼_` _¾ n h h` km h½n p l m¾ hn` _i¼` kl¾ hj j hg i¿g m` kl_¼ ½m` g i¿l ` kh¼¾ hn` kg m½n hml t mhmmg j l¾ hn ¨g n m ` xlp _j p ½j _` l` kl[ ¼_` _` hlm ½g ` _j l¾ hn` klp h_n g m hit `g ` khm lj hm ` h¼½l` h` kl hn l¼½p` g hin lm ` n ½p ` ½n g i¿` h¾ g i¼h½`il hg i` klm _l\l _n t i` kl[ ¼_` _g mih`_j _\m` klm _l_m` klg ip n l _m l Mk½m x` kli½l nh¾ hn l ¼½p ` g hig h¾½il j h\l i`g i` klȨtg g j _n j \x` kli½l nh¾ hp n l _` g hig i` kl[ ¼_` _¼hl m klm _l¼l ¿n l lh¾l j h\l i`¿n h` kxm g ip l` khm lh` _g ig i¿` kl hg ip j ½¼lh` k ih`l _i` tMk½m xg ihn ¼ln` hp h_n l ` khm l¾ hn l n j \½il j h\l ¼x_i¼` khm lmkg ¾ ` l ¼¾ n h h` kl n hm ` kl_¿¿n l ¿_` l ¼lj h\li`¼_` _¾ n h ` klȨxil ` hp n l _` g hig m_n hn g _` l x_i¼l 8½_` g hi` k_`` kl hp n l _` g hig i½m` kl hn l ¼½p ` g hit ¾` kl p _ih` _g i` klo_j ½lg ` k` kll ml _im` k_`` kl` h` _j hn l ¼½p ` g hil Êp l l ¼m` kl hp n l _` g hix` klil `o_j ½lg mil ¿_` g ol tMkg l j h\l i`p h½j ¼ln l ¼½p l ¼x_`j l _m ` x_`` klj _n ¿l © m p _j ll i` l n n g m lk Èlj l ol j x¼½l` h` kl n g hitl n l xl¼hih`p h½i`` kl hp n l _` g hi_i¼n l ¼½p ` g hi_`½n hl _i ' * *hnhn l hp n g ` l m m tMkg mn hp l ¼½n lg m _i¼¿j h_jj l ol j xm g ip l` kl \_\l j jl_j m hn l hn ` l ¼g ii_` g hi_jn l 7 ; ¤¥f ¦ §¨ ©ª à ilplmm_n \` h_ohg ¼` kl¼h½j lp h½i` g i¿t^l` hpn l_` g hi¾ n h ` kg mn hpl¼½n lg m` kl kl¼_` _h¾` klȨg mih` _¿¿n l ¿_` l ¼p k_i¿lh¾l j h\l i`_`` klÈmg i` kl\l _n x½`` ` klp k_i¿l x½`` klm g ` ½_` g hig i` klm _l\l _n tMk½m xl½m `¾ ½n ` kl n¿h_¼o_ip l` h_¼ ½m ` ` klȨ¼_` _t __¼ ½m ` l i`¾ hn` klp h_n g m hig m` h` _¶l` hm ` _¿l m tMklȨg ip j ½¼l m MklȨ¼_` xl p _½ml ` kllj h\li`h` kh¾Èmx_i¼[mx_mlj j_m` klmlj ¾ © l j h\l¼thlol n h¾` kl' * *hnhn l hp n g ` l n g hix` kl[ ¼_` _¼hl mih`g ip j ½¼l` kll j h\l i`g i¾ j ½l ip l ¼ ln l hn ` l ¼` hp hol n ) Mh¾` h` _jl j h\l i` \` kl[m_i¼` klm l j ¾ © l j h\l ¼xkg p k_n g i` klÔ k [ !½m g il m mÍ ¤hj g p \l m l _n p kx> * ' * xt ' ) l t ihn ¼l n` hl m ` g _` l` kll j h\l i` n h ` klȨxl½m l` klm k_n lh¾Èmg i` h` _jl j h\l i` xH > MtMklh` _g il ¼ \Èm¾ tMklix_m` kl i½l nh¾l j h\l i`g m` kl` h` _jlj h\l i`_`Èmj lol jg il _p k\l_n m l p hi¼m ` _¿l x` kg mm kh½j ¼l¾ ½n ` kl n_¼ ½m ` l ¼` h¾ g `¾ hn` klp h_n g m hig ` k` klil ` hp n l _` g hi _g m` kl` h` _jlj h\li`i½ln x½`ih`` klpk_i¿lt g i` kl[ ¼_` _xmg ipl` kl¼_` Mkl n l ¾ hn l xlp _j p ½j _` l` kl¼g ¾ ¾ l n l ip lh¾Èm £l j h\l i`¾ n h n l og h½m\l _n_m` klp k_i¿l h¾l j h\l i` xkg pkg mp h½i` l ¼¾ n h ` kl[ ¼_` _x¾ hnl ol n \\l _n¾ n h >* * "` h> * '* t klȨ_i¼[ ¼_` _x_i¼ Êkg g ` g hi© >m khm` kln l m ½j `h¾h½np h_n g m hil ` l l i` ` klm g g j _n` n l i¼p _ilp hi¾ g n l ¼t!h` k¼_` _m khm` kl½_n ¼` n l i¼½i` g j> * * 6 x½i` g jkl i hl _ilp hih\n h½¿k`` kl¾ n ½g `h¾ h¿n h` ktp` ½_j j \x ` kln hm ln g ` \h¾¿j h_j_i¼½n kl8½_i` g ` \ ` kl_g i` kl lh¾` kl[ _ii½_jn lhn `g i>* * )g m` kl8½_j g ` \xn _` kl n` k_i` h¾ hk ½n hl _i¨h½i¼_` g hi¾ hn` kl n hol l i`h¾Èg og i¿_i¼³ hn ¶g i¿ hi¼g ` g him x> * * ) l t n g h¼thl ol n x` kl¾ g i_ip g _j_i¼l p hihg ppn g m g m_¾ ` l n Mkg mn l ¾ j l p` m` kll½khn g _g i` k_`l l _m l ` klÈl k_ikhp ¶g i> * * )m l `_p ¶` kl` n l i¼` h¼hi_n ¼tMkg m¿hl m_j hi¿g ` k` klg ip n h¾½il j h\l i`n _` lg i½n hl t!l p_½m lh¾` kl¼g ¾ ¾ l n lip lh¾` kll ` kh¼hj h¿\¾ hn¼_` _ h_n l` kl ¼g n l p ` j \x½`` kl g n p hj j l p ` g hil ` l l i` klȨ_i¼` kl[ ¼_` _xlp _iih`p m g g j _nholl i` mp_ilphi¾ g n l ¼t à 4 c f ÿ%f f ÿf e f e cf ÿ%e f2$5 f fÿ f f c c e f e /cf e #*e e e f d d f f 2c f %f f c e f f cf# e f f2$5 f e f cf f fd9 d d f f ÿ f f ecf ÿ%f 7f ff fe fd f f # 7 s "e cfdff&e e d fecf2cffe e f e 2&e e e ! þ e d232$5 R ÿ ff ff ff S cf-c : c e d f2$5 < f23 # ¨n h ` kl_holp h_n g m hixlp _iih`n l l p `` k_`` kl[ ¼_` _mkhm` kln l j _` g ol j \ l¾ ½j¾ hn½m g i¿g ` t¨hnlÊ_j lx n l _j g m ` g p` n l i¼h¾½n hl_i hm x_j ` kh½¿klk_ol` hlp _n g `n l n l m l i` m` kl hmg i¾ j ½l ip l ¼\g ¿p h_ig l m xkg j l` kl hn l ¼½p ` g hig _m_mm ½¿¿l m ` l ¼ l nm l l m` hlj _½m g j l¾ n h ` klp h_n g m hig ` k` klȨxkhm lp k_i¿l g i` klj _m `p k_` mx> * *( m ½¿¿l m ` mhn l hmp n l _` l ¼` k_i` kl[ ¼_` _mkhmxlÊp l`¾ hn` klj _m `` h\l_n _i¼> * '* t ( N)P-+ Q*+ 1 IH-J+ RQEKL .I+ I) i` kln l og h½mp k_` ln xln hol¼` kl[ _m_½ig 8½l_i¼½m l¾ ½j¼_` _m h½n pl x_i¼ hh¶_`kh g `p _il½m l ¼¾ hn` kl_i_j \m g mh¾p hn hn _` l¼\i_g p mg i` klÔt ih lg j jj l m_j n l_¼\li` g hil ¼x` klkhl _¿lh¾` kl[ _¶l m½mli_j l` hl Ê` n _p`_i¼k_i¼j ` kl¼_` _8½g ` ll_m g j \x_i¼` kg m¾ ½ip ` g hig mol n \½pk½ml ¾ ½j` h¾ hj j h ` kl hpn l _` g hi_i¼ ` _i`m h½n p lh¾j _h½n_n ¶l `p hi¼g ` g him x½` n l ¼½p ` g hit i¼l l ¼x` klȨg m` klhm `g hn g `k_mm hlj g g ` m` hp him g ¼l n` kl hp n l _` g hi_i¼n l ¼½p ` g hitMkg mg m_g ij \l p _½m l` kl \ 7 ¤¥f ¦ §¨ ©ª _n lm khi_m` klil `n l m ½j ` mh¾p hg ig i¿ hp n l _` g hi_i¼n l ¼½p ` g hit³kl i` klȨn l hn ` m g j g ` g lm¾ hn` kg m'g j j g hi ` klg ipn l_mlh¾'g j j g hilj h\li` mx` kln l_n lmhlhmmg l j h\l i` tmhilhmm g g j g ` \xlp _ip him g ¼l n` k_`` klÔ lp hih\p n l _` l m' t >g j j g hi j lh` klnm l p` hn mn l¼½pl*t >g j j g hi hm tm_ih` kl nhm mg g j g ` \x> hmg imhlm l p ` hn m xkg klm _ln l m ½j `h¾` kl g j j g hi hm_n lpn l _` l ¼x_i¼'g j j g hi hm_n lp ½` t!h` kp _m lmj l _¼` 'g j j g hi hmp n l_` g hix½`` kll phihg pg j g p_` g him_n l8½g ` l¼g ¾ ¾ l n l i`g ` kl _p kh` kl n t _in hog ¼l` kl hp n l _` g hi_i¼` kl hn l ¼½p ` g hi¼_` _ 9i` klh` kl nk_i¼xm g ip l` kl[ p \t m l_n _` l j \_`` klphn hn _` lj l olj xlp_i½i¼ln m` _i¼` kl¼\i_g pp k_i¿lg ihn l¼ll j [hn l hol n x` kl n lg m¾ ½n ` klnh` l i` g _jh¾` kl[ ¼_` _¾ hn` kln l m l_n p ktMkl[ ¼_` _ m½ml i_j l` hl m ` _j g m k` klg i` l n l m ` g i¿ g mp hj j l p ` l ¼_`` klp h_i\j l ol j¼_` _x_i¼` kg m_¶l ¼_` __m lm l ` t9ilh¾` klhm `g i` l n l m ` g i¿hm m g g j g ` g l mg m` hn l p hj j l p `_i¼n hp l m m` kl[ kl½n hmlh¾p him ` n ½p` g i¿` kl_il j¼_` __`` klph_i\j l olj tÊkg g ` g hi© Hg m ¼_` _¾ hn` il l n g i¿p h_i\x!!x _il Ê_j l¾ hn` kg m` n g _j t³ lg p ¶l ¼½_l ¼l i© g ` l n j _i¼l i¿g n g l ¼` hl Ê` n _p `` kln l m ` n ½p ` ½n g i¿¼_` _p hg j l ¼g i` kl[ ¼_` _tMkl ix _m_il Ê_j l x_i¼` khm` kl¼\i_g p mh¾!!x ` kl n l_n l> 'p _m l mp hip l n ig i¿!!tm_il Ê_j l xÊkg g ` g hi© Hm 2 j ¼© g ¼ln l m ` n ½p ` ½n g i¿ _i¼g `n l hn ` m> *p _m l mh¾n l m ` n ½p ` ½n g i¿g i½n hl _ip h½i` n g l mx_i¼'hn ä4 _ml m xhij \"p_m l m_n l hpn l_` g hig ` k` h` _j6 *il hm xkg j lhn l p _m l t hi¿>*p ½n g i¿thl ol n x` kl_i¶n ½` p \_i¼ ` k_i x * * * hm_n lj hm `` kn h½¿k hn l ¼½p ` g hin l m ` n ½p ` ` klpj hm ½n l_n lhij \` kn l lp_m l m x>g i n l j _i¼x_i¼'g i¨n _ip l tMkl hp n l_` g hip _m l m_n l iil l l nm ` _` l mh¾` klÔt ` _j g _im ½m g ¼g _n \n l hn ` m hp n l _` g hig i> * * ) x½` _g ij \g ¾\l _nj _` l n tMk½m xlp _i ` klm _lm ½m g ¼g _n \_iih½ip l ¼` klj _\© h¾ ¾hn l hmhil_i¼k_j p hi¾ g n ` kll _m ` l n im kg ¾ `h¾ hg i_p h_i\¿n h½t *f f f e d""e f fd e e f fe f f f d f e e e f e f d f'b*8f f #*ff f f f & fd'b*8R þ ff ¦ ff S ÿ%e f f ÿ f e f f ÿ e 6 6 %%%# c # 6 *f f 6 f # ïe 4 f 4 87 þ ü ü © < 7 ¦ #'d c C 3ÿ fd ce f2$5 # 2 e f""e %f f ! %e Z f ÿ f f c c e f e f ÿ%e Z f ÿ f f f 2' f f f #*e %f f f %f 7f d f e f2$5 %ef f ! 2$5 # ä 4 *fd f fd f2$5 ff f e % ! %e f f f f¦ © ÿ ffff ff9 ÿc ff e f e e f¦ ©ÿ ffff 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þff ¦ ff f "" 4 $ 5d ¦ ý § þ ff ff 0 ! ¦ ff ! þff ¦ ff Zf $fc e "" "2 5d þ ¦ þ 0 ! ffý ! þff ¦ ¦ "" 4 $ 5d e ¦ ff ff û û cf-2$5 ff b f-*fd f c c e ÿ"2-"ce ff &e ÿ"$-"7 cÿ3- c fÿ4 $-4 f f c! c e ÿ8-d d e 68f e e ÿ$3-$f e ÿ5d -5cd c e # j ` kh½¿k` kln l hn ` l ¼p _` l ¿hn g l mg i` kg mÊkg g ` g hi_n lj g g ` l ¼` h` kl¾ g n m `m ` _¿ll Ê` n _p ` g hi j l mg ipj ½¼g i¿` klhn l¼l ` _g j ¾ n h ` kl[ khl _¿l xl _p kh¾` kl k_mg ` mhip_m l¾ g g i¼½m ` n g _jp j _mm g ¾ g p _` g hi` h` klj hp _` g hih¾` klg i¾ j ½l ip l ¼lm ` _j g mkl i` mtMk½m xg ¾l` _¶l _g jh¾l _p kp _m lxg `h½j ¼l_k½¿l_il j¼_` _m l ` xkg p kn l p g m lj \m khm h½`` kl¾ ½j j¼l` h¿n _kg p¼½n _` g him t ` kl hp n l _` g hi_i¼n l ¼½p ` g hi_`` klp h_i\j l ol jg ` km hl` g l_i¼¿l hl ol n xg `m kh½j ¼ln l g i¼l ¼` k_`` kg mh` l i` g _jk_mg ` mhik½n ¼j l tMklhn g ¿g i_j¼_` _ kl_il j¼_` _¾ hn _` tMkl n l ¾ hn l xl½m `g p ¶½l _p kh¾ h¾` kl[ g mih`n hog ¼l ¼¾ hn` ; ¤¥f ¦ §¨ ©ª hn l` k_i' H x * * *¼_` _¾ n h ` kl[ khl _¿l xm h` k_`lp _ip him` n ½p `` kl_il j¼_` _ p hihg pg i` l ¿n _` g hitMkg mil l ¼m ¾ hnhn l¼l ` _g j_i_j \m g mh¾ h¼\i_g p m½i¼l n½n hl _il ` g l_i¼n l m h½n p lp him½g i¿l ¾ ¾ hn ` m x½`g mm ` g j jhn ` k` h` n \t N)S-*0 H /.1 *T, Q UI, VW ) l ¿g hi_jl p hihg pg i` l ¿n _` g hix` klg iol m ` g ¿_` g hihi` kl j hi¿g ` k` kl¼l ol j hl i`h¾n m n l_p` g hi\o_n g h½mlphihg p_p` hn mg ipn l_mlm` klg hn ` _iplhn l_i¼hn ltMkg l hn _i¼½ m ½¿¿l m ` m` klp _m l` h½m l` kl[ ¼_` _x_i¼` hn l © l m ` _j g m khn l_n hn g _` l m¿hg i¿hi` kg m¼g n lp ` g hi` hp him` n ½p ` ¼_` __m lm l `¾ hn` kg m½n hm ltMkg mn lm l i`_½` khng ` kl[ ¼_` __mlx_i¼g i` li¼m` h_i_j \ml` klphn hn _` l¼\i_g pm½i¼ln½n hl_i g i` l ¿n _` g hit j ½¼g i¿n l _n ¶xlh½j ¼j g ¶l` h_¼¼` klg hn ` _ip lh¾` kl[ ¼_` _g i m` klp hip ¾ g p _i` ` klphi` l Ê`h¾p h_i\n l m` n ½p ` ½n g i¿tml i` g hil ¼l ¾ hn l xhilh¾` klhm`m g ¿ig _¼o_i` _¿l mg m` k_`` kl[ ¼_` _p _in hog ¼l` klo_j ½_j l¼_` __i¼g i¾ hn _` g hiol n \8½g p ¶j \t g ` g hih¾j _h½nm g ¼l_`` klil ¿h` g _` g hi` _j l t Mkg m_\l j jp hi` n g ½` l` hm ` n l i¿` kl i` klhm g hi Mkl½ig 8½lg im ` g ` ½` g hi_jp hi¾ g ¿½n _` g hig i` klÔ g mih`m l l ig ih` kl nl p hihg pg i` l ¿n _` m pkl l tMkl¿hol n i_iplh¾m hp g _jg mm ½l m_`½n hl _ij l oljg m_ih` klng i` l n l m ` g i¿n lm l_n p k k` kl[ ¼_` _m l` t ` kl lg i` kl¾ ½` ½n l_j hi¿g ` k` kl_i_j \m g mg ` ; « "e cfdff&e e d fecf2cffe e f e X1 YH 1 -T, IGRO) i¼hxli© g pkgk > ** l% °¯° ¿ ü· æ ± °æ ± °· ¿± í ¯ À« ç诰 ± ¿ »æ º«æ è ± · À kl j ` l ik_xÔá^hn ` k_` hix[xÔz¼_n ¼j ¿_n t °¡º° è° æ ± °·® ¡¿ æ ± ¿ m lp ` g ol i¼hxl i© g p kgk > * *( lÜl¿g hi_j g m _` g hi_i¼l ¿g hi_j g m g i½n hl¾ n h ` kl¤ln h¾[½j ` g i_` g hi_j mÞ xg i^_¶_½n _xM_g hk l¼t lû é°·0± ¿ ± »ªæ í°¿ æ«¿ ± ° é± °· ± ¿ èÀ9Êhizh½` j l ¼¿l xt ) © ' * pmk >*'*l® 诰 æ»í¼ 6æ 1° ¡ª7® Àª± °· ¯ æ À hlik_¿liz hlik_¿liphihg hl ik_¿l ip hihg p m t > * '* lí ¯ °¬üí¿¡ ¿ ¿ À«°· ¯ æ [ !½m g il m mÍ ¤hj g p \lm l _n p kk í¼ ¿ è°· ·°¡è ¡± è ¿ ± Z ¡ æ ¯ ± ¿ ¿êëë%À^l` kln j _i¼mz [ !½mg ilmmÍ ¤hj g p\ l_n pkt lm Ül ½n hl _ip hihg p h½ig ` \k lk ' ( 6 l ¿½j _` g hik l^h' H 66 h¾` kl h½ip g j hl _i¨h½i¼_` g hi¾ hn` klg n hol l i`h¾j g og i¿ h¾> [_\' ( 6 hi` klp n l _` g hih¾_½n Þ6%ûì _i¼hn ¶g i¿p hi¼g ` g him x [%ÀH * t t ' (6 xt ' t l i`h¾Èg og i¿_i¼³ hn ¶g i¿ hi¼g ` g himk > * * ) líü ½n hl _i¨h½i¼_` g hi¾ hn` kl n hol g iz ¯ æêëëµÀü °¡ æ æ \ ¿ ]°æ æ ¿ » 请 & è æ ¾ ¯°¿ ± ± í ¯ À½j ½n hl_i¨h½i¼_` g hi¾ hn` kl n hol l i`h¾Èg og i¿_i¼³ hn ¶g i¿ hi¼g ` g him ' * l · ¡® ¿ æ è æ Ôig ` l ¼^_` g him hi¾ l n l ip lhiMn _¼l_i¼l ol j hl i`k Ô^ Mlk > * ¯ æ Àêëì ëÀ® ¿ æ ± é± °· 1 ° è& À^l $hn ¶_i¼ql il o_zÔ^ Mt í ¯ ° ¿ æ æ ± éü ± æ «°· ¯ æ Ào_n g h½mg m m½l m t í ¯ ° ¿ æ æ ± éü ± æ ^° æ · & Ào_n g h½mg m m ½l mt ;
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