“企业规模可以无限扩大吗?”是经济学界的一个古老谜团,新古典主义的技术观点和新制度主义的组织观点已经相对成熟。特别是现代企业理论,对生产企业的垂直一体化很有解释力,但其研究焦点始终集中于生产领域,很难解释流通企业的连锁扩张现象。流通企业横向跨区域、跨国界的分店 “Can the scale of an enterprise be unlimitedly expanded?” Is an ancient mystery in the field of economics. The viewpoint of the neoclassical technical point of view and the organizational point of neo-institutionalism are relatively mature. In particular, the modern enterprise theory is very explanatory to the vertical integration of manufacturing enterprises. However, its research focus has always been on the production area, making it very difficult to explain the phenomenon of chain expansion in circulation enterprises. Circulation enterprises horizontal cross-regional, cross-border branch