經(jīng)理人“背叛”的機(jī)理與雇主的對(duì)策取向

經(jīng)理人“背叛”的機(jī)理與雇主的對(duì)策取向經(jīng)理人“背叛”的機(jī)理與雇主的對(duì)策取向

本文所指的背叛是經(jīng)理人的一種敗德行為，即經(jīng)理人利用企業(yè)的信息和資源另立門戶，采取不正當(dāng)?shù)氖侄闻c原企業(yè)雇主（所有者）直接競(jìng)爭(zhēng)；或者是惡意跳槽，損害企業(yè)利益，以及發(fā)泄私怨或謀取私利。對(duì)經(jīng)理人背叛行為的治理已經(jīng)成了許多企業(yè)面臨的一大難題。本文試圖在當(dāng)前中國(guó)經(jīng)理人治理制度框架下，運(yùn)用博弈理論分析經(jīng)理人背叛行為及其治理困難的原因和機(jī)理，說(shuō)明經(jīng)理人背叛的主要影響因素，進(jìn)而提出治理的對(duì)策取向和政策建議。一、內(nèi)容簡(jiǎn)介經(jīng)理人“背叛”的機(jī)理與雇主的對(duì)策取向二、國(guó)內(nèi)外主要研究成果1、國(guó)外研究成果國(guó)外學(xué)者多從制度層面研究企業(yè)內(nèi)、外部因素對(duì)經(jīng)理人行為的影響。企業(yè)外部因素產(chǎn)權(quán)制度競(jìng)爭(zhēng)環(huán)境企業(yè)內(nèi)部因素經(jīng)理人的持股權(quán)經(jīng)理人的報(bào)酬合約經(jīng)理人“背叛”的機(jī)理與雇主的對(duì)策取向F互a斜m那a閃(嚇1原9梅8暑0丑)影：熟經(jīng)搖理致市株場(chǎng)井可表以糠通沙過(guò)姓一閱種顆“箭事沸后揮處崇理霸機(jī)寶制探”褲有居效矩地癢控奸制畫代團(tuán)理俱成來(lái)本校。K輪r醫(yī)e像p商s餐和腹W雹i擊l帥s妨o秒n陽(yáng)(蛇1意9蹄8若2啟)拴：橋指藝出俯交脆易文者跟為冷了另在看重襪復(fù)餓博內(nèi)弈筑中矛獲呢取云長(zhǎng)羨期裁收示益塑，重通棗常廈需要昆塑帝造奴自配己六的挎聲罷譽(yù)熄。M揭e卡h蕩r克a敏n魚(yú)(逆1供9蒼9遼5婆)廊：紗證哈明舟了瞞公積司赤的影績(jī)歐效忍與涉以朗股趣權(quán)些為另基桶礎(chǔ)坡的涼報(bào)種酬飯之撤間烘存返在橋正揮相悅關(guān)呢關(guān)杯系勻。T括i驕t辭t越e輕n手b竹u哈r雪n固(照1憤9射9筋6擱)椒：蒜企翻業(yè)先績(jī)師效倍主蕉要咬與貸市隆場(chǎng)番競(jìng)育爭(zhēng)有程育度帶有簽關(guān)液。M染a桂r檔t絡(luò)i削n籍和緞P揭a敲r討k蒜e則r級(jí)(洪1常9場(chǎng)9滅7指)要：絲式企滾業(yè)仰績(jī)筑效谷與雁市今場(chǎng)考競(jìng)掘爭(zhēng)魄程旦度伴正哥相會(huì)關(guān)摟。青潔木母昌譯彥犧（頌2綱0喝0理1恐）減：期對(duì)秀交萍易壟者姓背罵叛沿行宅為瞧的罪防宏范趙做置了脈分小析匹。經(jīng)廈理圓人曉“疤背戶叛頭”侵的角機(jī)國(guó)理榴與板雇必主嚴(yán)的小對(duì)逐策歉取匠向2龍、琴國(guó)谷內(nèi)填研估究玻成劃果（器1伴）礙我臟國(guó)已經(jīng)蔽理嗓人常市踩場(chǎng)近現(xiàn)抽狀我恭國(guó)無(wú)市麗場(chǎng)可經(jīng)婦濟(jì)毒尚駁在呼起得步麥階奪段財(cái)，熔經(jīng)征理減人充市砌場(chǎng)刃也蘇剛澡剛丹開(kāi)蚊始栽萌律芽集。市邀場(chǎng)胡對(duì)館經(jīng)崗理伏人勵(lì)約廈束雄較總?cè)鯃?jiān)，綠經(jīng)芹理秩人業(yè)的鳳職柳業(yè)肝規(guī)塑范悶尚小未鉛形鴉成餡；市鞠場(chǎng)情上才的敲創(chuàng)狠業(yè)偏和劍就兵業(yè)徐機(jī)更會(huì)明較薦多歉，傳經(jīng)限理戒人善無(wú)慣需循與鴉所招有辣者捆進(jìn)箏行蝴重勤復(fù)夸博梨弈廢；對(duì)藏低賢效箭企照業(yè)掉的心收滑購(gòu)講受凝到漫資現(xiàn)本辯市疼場(chǎng)桌和冊(cè)企繳業(yè)屠產(chǎn)守權(quán)蘿結(jié)爹構(gòu)口的損限急制亦，龜經(jīng)曠理勻人憐較道少照面價(jià)臨遭收梢購(gòu)裝壓旺力雇帽主鉤的兄行飯為趣不鑒規(guī)桌范茅，膠經(jīng)悔理梢人元對(duì)澆雇餐主漏的沙包叫括偶股退權(quán)斧與闊期謝權(quán)懶在遞內(nèi)胞的升長(zhǎng)繪期撫激民勵(lì)丘計(jì)棚劃返的殊信硬任勻度賺低逮下急。（得2福）承國(guó)丑內(nèi)滅學(xué)秩者剝對(duì)里經(jīng)仔理肅人拉背漁叛悼行秀為專的礙研米究國(guó)傲內(nèi)隨學(xué)皇者湖對(duì)斃經(jīng)巡壽理猾人紛背彩叛撤行睡為瘦的熟機(jī)撇理講和島原鋒因傾的希研黨究居主蜜要袋集玻中吹在胡企柏業(yè)發(fā)外芒部襪環(huán)室境甘，桶更煮多滋的興是獄描電述萄現(xiàn)飄象皺、碼提凳出丈對(duì)遮策殿，士缺題乏拾深賢入朝研槐究派，鼠提爬出暖的片對(duì)巧策格雖當(dāng)全梁面圈，污但勸沒(méi)泡有鑄重來(lái)點(diǎn)導(dǎo)。經(jīng)環(huán)理簽人匆“禾背釋叛鋸”釘?shù)哪粰C(jī)踩理蜂與淘雇蛇主概的搖對(duì)呈策山取博向國(guó)駐內(nèi)糖學(xué)哀者網(wǎng)對(duì)舟經(jīng)莊理泄人利背度叛紹的效研緩究部主靜要之是慶從羽如個(gè)下償方拌面倒來(lái)械研堆究筋的范：（包2涌0什0斧0倡）康李枕立討新付、節(jié)金色潤(rùn)協(xié)圭旱：訴研瘋究顏了課外元部誘市治場(chǎng)嬌對(duì)煎公觀司午的孔約畢束似力拔度（留2葵0務(wù)0掩0贈(zèng)）煩左務(wù)小潮德同：壟研鍵究答了櫻所置有例者俯與鍬職嫂業(yè)玩經(jīng)凈理脅人暫之允間跨的怕信禾息規(guī)不困對(duì)捉稱（祥2昂0背0她1稈）典張?zhí)J梅悼、涼柴池萬(wàn)母元竿：歷內(nèi)桂部設(shè)管識(shí)理嶄機(jī)汗制睬和榆企栗業(yè)躍家掩自羊身婦素憂質(zhì)啊、惕經(jīng)最理齒人牢市旅場(chǎng)約限束鵝、鳳法辟律辦對(duì)歐經(jīng)裂理裁人太的熱權(quán)眨限倉(cāng)設(shè)君置（漁2衰0把0刮1示）張楊池瑞燭龍蛇、爛鄭日志柏：碎產(chǎn)籠品愛(ài)競(jìng)廊爭(zhēng)秀機(jī)描制睜和感股柜票秤市狗場(chǎng)累的嚼壓陸力趣機(jī)西制余對(duì)拾經(jīng)臣營(yíng)亞者約黨束遇作河用（珠2皆0疊0化1急、呼2棉0弦0品2罪）稿張座維隊(duì)迎卻：豬法體律錦對(duì)買產(chǎn)譽(yù)權(quán)誕的勞保啞護(hù)射和裝對(duì)聞聲拜譽(yù)義機(jī)繳制懂建籃立槳的染影蜜響經(jīng)摸理誘人砍“育背藏叛浮”糾的南機(jī)捷理鴉與唱雇倡主吵的頁(yè)對(duì)特策儀取榴向三季、杜經(jīng)輪理揪人手與濃雇鎖主挪的朝兩誓階懸段賣博什弈陳模聞型模型假設(shè)行為人只有雇主與經(jīng)理人；兩者均為理性行為人經(jīng)理的行為有背叛、不背叛；雇主察覺(jué)背叛行為后會(huì)選擇懲罰與不懲罰經(jīng)理人有先發(fā)優(yōu)勢(shì)經(jīng)理人一旦選擇背叛；就會(huì)離開(kāi)企業(yè)，不與雇主再次博弈經(jīng)懷理朗人則“股背質(zhì)叛異”府的貞機(jī)磚理車與掘雇免主罩的旺對(duì)順策芬取隸向經(jīng)級(jí)理梁人較與辛雇萌主德的毀兩羞階飽段家博惜弈旅模跪型聰如時(shí)下奏所跌示午：經(jīng)理人經(jīng)理人：K0雇主：R0不背叛雇主背叛懲罰經(jīng)理人：K2雇主：R2不懲罰經(jīng)理人：K1雇主：R1經(jīng)知理誼人臟“尺背馳叛托”伏的眾機(jī)跑理奏與解雇悼主杠的銹對(duì)厲策旅取傭向1墻、陜經(jīng)菠理疏人掏策陶略械選標(biāo)擇登的么損嚷益（睡1梨）鋒經(jīng)鉛理爺人澡不伸背滲叛囑時(shí)莖的則收速益肅為造K0K0=紫M最+器(搭N全+齊O冠)杜h柄*樂(lè)pM摔是怕經(jīng)秀理艇人腫的孟貨品幣雀收優(yōu)入燭，分N濱是戶經(jīng)逝理想人藍(lán)的眠非奇貨講幣雅收辮入姓，獨(dú)O擊為哲經(jīng)尚理器人觀的磨長(zhǎng)期箱收展入尸，墳h檔為拉雇包主鹽和論經(jīng)迎理瘋?cè)藴y(cè)的碰誠(chéng)征信繭因凱子辣,傾0椒≤康h膚≤專1食，柏p污為殺企綿業(yè)蒙的處前華景手因子嘗,完0末≤能p獎(jiǎng)≤鴉1榴。乖其呢中仆經(jīng)納理卷人投未象來(lái)浩的泳待肝遇絮和倦長(zhǎng)柔期封收孔入嶼與塊h壓和朋p庸直雞接厭相陡關(guān)橡。(帽2緒)道經(jīng)鄉(xiāng)豐理糾人六背屑叛智時(shí)位的葉損串益背拋叛夾未漂被創(chuàng)察稅覺(jué)獨(dú)或?qū)⒉煌鍪芪韫驼贾麂J懲們罰西時(shí)熊的貌收摸益K1=券(他1揮-殼s棵)卡(內(nèi)1司-濟(jì)q鍬)萬(wàn)P背發(fā)叛虧遭給到舅雇擋主遠(yuǎn)懲娘罰哨的洪成巴本擦為和：廟α昨[凍M酷+梁(抽N約+熔O輪)珠h鳳*炊p單]背退叛鞋被件觀鈔察懷到灑而葡遭蘿雇檢主劣懲宅罰從后漏的姥凈兆收騾益患為謎：K2=斬(齒1香-病s叮)靠(果1虎-季q持)秤P縣-隱α妄[個(gè)M西+伐(響N旋+卡O嚴(yán))活h究*扣p或]其等中以α侄為遲企歇業(yè)賽內(nèi)材部席機(jī)割制論的眉約謠束泳率偉,媽?duì)伶湣輹?溝。猛P脹是販經(jīng)兩理建對(duì)州外厲部墨市料場(chǎng)就期墳望收櫻入榨，s是望外跑部燒懲場(chǎng)罰線因癢子炮，種0株≤來(lái)s老≤逃1皺。遼q綿是腫外爐部博市心場(chǎng)毯風(fēng)食險(xiǎn)維因刑子旁0各≤飲q閱≤渴1塔。經(jīng)蒸理攤?cè)藢帯皢伪称张褖必浀蔫T機(jī)敵理灘與肥雇裳主乏的駕對(duì)仗策鞠取已向2壓、第雇垮主櫻策覆略貼選爐擇芽的誦損轎益(瞞1模)細(xì)雇作主貼在壯經(jīng)區(qū)理另人進(jìn)不種背寬叛依時(shí)驅(qū)的征收召益R0=桑d感k0，不其萍中壁d戚表享示棵經(jīng)幫理僵人芳不筋背汗叛擁時(shí)怪收迎益模的層倍簽數(shù)宅，漆d秒≧灑1表；(鐘2轟)唯雇珠主者不劍懲傭罰質(zhì)策跨略戒的娛凈宜收粱益迫為旨R1R艘1=院0溪-總(哲1幼-炮s見(jiàn))證(鐘1顯-秋q嗓)親P霜=帖-存(門1榴-畝s斤)討(繁1評(píng)-崗q丙)場(chǎng)P(招3歪)雇質(zhì)主檢對(duì)換經(jīng)縫理?yè)?dān)人摟懲品罰假的河成級(jí)本育為裂：I鍛(依1禾-約α海)疑+拋C證(勺1惜-斃s另)簽+督V張(轎1駕-抗q端)其鈴中狠I謊為停監(jiān)充控腐成壟本追，宵與麥內(nèi)稿部翼治盆理貝機(jī)柜制去的吩完尊善菜程濟(jì)度獄有飾關(guān)?。◥灕粮唬┐?；奔C短為隨訴訟斤成鉛本宿，踐與畝法混律箱的致健壇全印程盤度苗有脊關(guān)捆（緩s饅）郵；街V棵為和經(jīng)族理護(hù)人搖信激息啄公禽開(kāi)龍化枝成嚷本任，攔與市勝場(chǎng)量發(fā)灣育松程巷度則有薯關(guān)躲（青q少）技。雇師主緩采然取劃懲跳罰伏策竿略伴的隔收尚益巡壽為污經(jīng)拴理灣人床背菊叛硬的突成災(zāi)本舉，盲即呀：哪α塵[類M仁+揉(優(yōu)N貪+割O都)獄h淹*裹p普]雇池主慚對(duì)仇經(jīng)疑理橫人陶懲摸罰邀的恭凈召收腐益屑為蛛R2R2=英α泛[薪M紡+嫩(悉N卷+賣O怕)新h煎*雀p瓣]丈-鼓I油(鴨1抹-藏α步)代-寒(氣1金-悔s屈)御-家V遇(津1嗽-差q)經(jīng)忍理須人濃“左背蜂叛牢”肆的錄機(jī)濱理牲與司雇蟻主傲的快對(duì)性策邀取腥向四羅、誰(shuí)雇峽主溉與斗經(jīng)塔理竿人柔的條行桂為繞機(jī)舒理1清、苦雇木主銀的筐策也略島分篩析由經(jīng)惡理亭人鐵與請(qǐng)雇剃主我的洲兩尼階槽段莊博效弈談模彈型可鑼以毀發(fā)欣現(xiàn)淚雇同主騰是福否小懲著罰堤經(jīng)加理際人牲的邊侮界鳥(niǎo)條升件彈為棋：斧R丙2忌=堆R床1翠。如棍果導(dǎo)有性R稱2紀(jì)>榮R閑1霞,識(shí)雇軋主冬就裕會(huì)俘采鞠取絞懲導(dǎo)罰等策指略渡。即牲：掉α?xí)r[恥M卻+走(飛N報(bào)+暈O往)身h多*防p走]灣-她I米(徒1尾-寶α橫)欠-夕C浩(遭1猴-找s耳)濾-豬V導(dǎo)(奔1臘-吹q牲)解>多-拴(峰1提-怒s托)陜(累1僚-泊q稿)邪P從義而宗有窮：據(jù)I裂(露1隊(duì)-限α勇)集-使C禁(嶼1活-籮s土)成-劇V億(后1毯-禾q娛)停<撓α踢[程M繩+陰(中N左+斯O籠)南h緣瑞*悅p曉]俗+泳(莊1梯-孕s努)杠(緞1盤-席q陷)慨P即埋：作I五(倡1培-欣α孩)團(tuán)+識(shí)C戚(濁1怨-勻s側(cè))菊+網(wǎng)V驕(喪1言-卸q逮)叔<側(cè)α脹K0+豪K1（喉記臂為款式落1湖）從過(guò)式備1唱可高以豬看汗出摔，高能災(zāi)否吹達(dá)擇到膀R午2巾>惹R就1鮮主則要帝取俯決傭于保3遍個(gè)薪因紋素熄：刪企掃業(yè)散內(nèi)究部命機(jī)制介約召束寄因庸子挽α圣，賺外輔部釀懲打罰風(fēng)因逢子俱s節(jié)和旱市間場(chǎng)殲風(fēng)閉險(xiǎn)善因殲子滾q礦。佛這胃些國(guó)因比素圍取堆值機(jī)越咬高紹，則浙雇呆主拍采孫取經(jīng)懲益罰京策屬略尿的乘可梳能贊性吩就幸越親大夕。經(jīng)表理興人名“拳背勒叛聞”仔的丟機(jī)張理百與抖雇肯主杏的影對(duì)換策叉取否向分途析岡目遭前勉我良國(guó)超現(xiàn)孝狀歌下平的敏三榨個(gè)此約千束除因幟子讓：風(fēng)跨險(xiǎn)第市傻場(chǎng)氧因散子收q晃：窗由研于觀經(jīng)悠理絹人除的憑創(chuàng)促業(yè)蠅市屆場(chǎng)輪存僑在住較逆大銹空稈間集，辟使歐得建越傅來(lái)事越嚇多責(zé)的陪經(jīng)床理聯(lián)人斗在威原爹行技業(yè)搶開(kāi)心辦負(fù)新晝企旱業(yè)得；杏經(jīng)皺理專人辛利炕用涂原都雇轟主律企禽業(yè)喝的古信叔息左和雀資駝源聯(lián)也植不盾會(huì)擔(dān)受舅到從追鄭究揉；者經(jīng)升理靈人批的厭就押業(yè)仙市邀場(chǎng)捕很拳大哥，飲更勢(shì)換貞雇宗主培的起交遵易危成南本器相鞠對(duì)奴低勇廉胞；棵另這外兔，月經(jīng)顆理渴人宇在楊很串大鎮(zhèn)程釣度明上羅不折會(huì)江面康臨脾收俘購(gòu)常懲炭罰參的出壓座力稈；箏經(jīng)深理酷人鄙市趣場(chǎng)蛙的析發(fā)舞育粒不睜完轟善什，爽使膊得粉經(jīng)鵝理鬧人仍的北行妄為勻信蘋息運(yùn)難寄以藏實(shí)袋現(xiàn)則公鈔開(kāi)泡化滅，申雇陪主競(jìng)難天以材通冰過(guò)暮信青息泛傳挪播艙進(jìn)垮行筆懲燙罰零，因經(jīng)午理痰人摸的騰背叼叛股行見(jiàn)為查不拐會(huì)鋼影恨響殺其催今勞后遞的嫂工瘋作誰(shuí)機(jī)般會(huì)劇。郊因驗(yàn)此聾風(fēng)是險(xiǎn)痰因失子禍q翁對(duì)賀經(jīng)敵理犁人眉背鋸叛惰的掉約每束留力獎(jiǎng)薄糟弱菊。外陸部猛懲羅罰蛇因漫子s：債我炒國(guó)這關(guān)在于母職框業(yè)呢經(jīng)頁(yè)理職人響的暢立坦法磨十鐮分遵缺肌乏芳，歲已邀有底法烈律倚的蜜可技操露作屬性酷低俗。織因桑此蚊雇匠主板通黨過(guò)闖法源律茫懲材罰逐經(jīng)固理您人凡的病背侵叛堪行禮為穿交鴿易歷成襪本烤高芒昂滔。匠外控部魔懲要罰可因有子狂s容的蓄作虛用么也置十塊分懶有命限稍。企鍋業(yè)后內(nèi)屈部謎機(jī)獻(xiàn)制味約嚴(yán)束嘗因使子羞α搶：姨我碼國(guó)菊許汽多直企租業(yè)密內(nèi)板部昂治剖理蠻機(jī)扇制奸不領(lǐng)完皆善猴，興企照業(yè)吉章啊程促中片沒(méi)氣有宴約耐束巡壽經(jīng)莫理水人置的桶條轟款譽(yù)，略合啊同頃制參度薦中爆沒(méi)闖有弄設(shè)徐立捏經(jīng)轎理半人辨的俗保芽密牙條府約煉和仇名轎譽(yù)財(cái)權(quán)幣合償約餅等妖，切使循得樸雇少主偶在柄求害助詞于蜻法踢律較支金持長(zhǎng)時(shí)往無(wú)農(nóng)據(jù)夢(mèng)可境依辨(穩(wěn)章拼程端和掩合德同辯)費(fèi)。效故尚在漲實(shí)驚際浩中課α矮的道影揚(yáng)響視很色小戶。綜永上友所召述鹿，撈在羨q鹽、際s規(guī)、悶α君約頁(yè)束炸力誘都庸很江薄磨弱稈的簽情返況物下棋選瞎擇躲懲護(hù)罰半，連就示會(huì)脈出惡現(xiàn)R液2＜扔R跪1，世故齊雇橋主暢理竿性樂(lè)選防擇照只債能網(wǎng)是厚：其放灣棄衫懲他罰析。經(jīng)彼理吊人酒“扣背止叛繁”嶺的長(zhǎng)機(jī)銹理杜與歪雇換主慎的退對(duì)罵策戒取搏向2恥、久經(jīng)朋理忘人魂的扛策征略暈分雖析經(jīng)筒理董人亦在啄預(yù)遙期薦到績(jī)懲蠅罰晶行裁為擦成繪為盲雇碰主博的民絕燦對(duì)損劣疊勢(shì)想策霧略醫(yī)后業(yè)，作選片擇充策澆略磚前次只需陵要丸比拆較灑不隔背勁叛撐的鋤收喇益息K0和旱背蔑叛貼時(shí)旺的戶收坐益鎖K1。如詢果胡有K做1汪>擁K許0,譽(yù)經(jīng)顏理?yè)跞岁J就痰會(huì)欣選矛擇隊(duì)背魯叛介，胃反沃之勉亦倒然例。即班：錫(斤1漲-革s狠)非(騰1時(shí)-屬q譽(yù))宜P證>裕M而+挎(釘N踢+涂O乏)哄h飄*凈p從桑而汗有跳：歸P積>賤[有M渣+罰(久N絲式+車O造)與h柳*闊p聲]毛/費(fèi)(粱1諷-憤s末)熊(疑1產(chǎn)-婦q祖）殺（裙記館為濃式刺2削）分與析座式事2撐，蠢因飼為偷已鬼經(jīng)招分尖析散外隔部績(jī)約稍束堡條驕件瓣s妖、沫q艇作云用暢十梨分晚薄被弱躲，菜所托以只鴨需順外基部皇市鑄場(chǎng)地的奮期爛望碗收李入陳P犬大折于填不念背竄叛宵時(shí)購(gòu)的汪收鎖益勾K0，壤經(jīng)阿理燭人華就糧會(huì)傭選午擇兔背耀叛釀。故采得筑出裝影替響姑經(jīng)宜理礙人惰背運(yùn)叛困行珠為跡的帆障皂礙傍只扮剩顛下槳企尸業(yè)良內(nèi)秩部低激委勵(lì)殖機(jī)喬制擋（劈燕誠(chéng)豆信因逢子再h弱和葛前痛景噴因湖子烘p銀)歲。經(jīng)宴理比人牽“樸背比叛呼”婚的啊機(jī)折理徒與賞雇屬主圣的洋對(duì)撿策敢取猶向分察析艘前斧景價(jià)因甜子揭p模與樂(lè)誠(chéng)繭信怖因亞子炎h我哪國(guó)柏企拌業(yè)歇界牽存董在搜代謎理纏人霞與床委努托劣人收之貓間讀的輛雙肯向考信榆息喊不歪對(duì)廚稱己（適p銀）*紙代膚理惕人既掌孟握守企蓬業(yè)啟經(jīng)約營(yíng)亂信巾息蘇，揉委槐托色人給難愿以姿對(duì)陰其葬行挑為愚實(shí)腹施勸監(jiān)梨控*毒不香少萌企濕業(yè)箭都越設(shè)抖有猶“晚兩約本瓦帳弟”矩，側(cè)經(jīng)互理差人狂對(duì)曉雇椒主瞎的飼長(zhǎng)精期誘激憐勵(lì)姓心肯存成疑泄慮雇筒主鳴的酬誠(chéng)槳信元不株足線也抽造舍成莊經(jīng)枯理站人邁的昆誠(chéng)積信啦惡河化喊（陜h脖）*盯雇斤主膏在護(hù)財(cái)紫務(wù)覺(jué)上品的懶欺籌詐*栽鼓訪勵(lì)碼、慈縱巡壽容口經(jīng)染理皺人欣對(duì)截社類會(huì)某和逼顧螞客山的繩不殺誠(chéng)夏實(shí)妹行欄為經(jīng)俘理河人萍的陽(yáng)誠(chéng)士信勝惡哀化倍，慌降餅低劑了銷背脅叛枕的賭心彈理語(yǔ)成幅本芬（鐵h剖）*附交是易坊者鎖社懂會(huì)廣規(guī)將范里和蹲道津德荷準(zhǔn)拋則基失懶靈戲，負(fù)背猛叛絹成磚了冠經(jīng)坦理況人鋒心紅安情理蹄得桂的堡事彼情券。由昌此嫩得駛出鵝，恰我最國(guó)牲企擾業(yè)些雇蘆主旨的溫誠(chéng)愿信蘇狀沈況尤惡鹿化高，旦對(duì)待企迅業(yè)關(guān)發(fā)找展縣前鑒景重的文信僵心哄喪失膛，著也引即列誠(chéng)無(wú)信顫因此子嘆h焦與袖前陣景聽(tīng)因欣子督p屆對(duì)明經(jīng)嶄理藏人株背股叛謹(jǐn)行乏為竟的餡約騎束范力幻玉薄宜弱宿，雕使賺得經(jīng)層理送人擁背前叛接的儉外遼部聰收孟益K0大爺大腿高欺于贏不勁背室叛給的鳳收農(nóng)益K1，澤故慎經(jīng)吵理避人母的透理拒性努選擇為自麗然愉是桑：答背汪叛食。經(jīng)路理趕人朱“恒背孝叛去”依的遲機(jī)堆理相與紀(jì)雇光主染的估對(duì)基策咐取冤向總炕結(jié)狀以稀上晌分完析胡，門可脖得韻出鍵我歡國(guó)輕現(xiàn)名狀掃下晨的冊(cè)經(jīng)亮理晉人償和播雇脫主蝕在歷背費(fèi)叛原—語(yǔ)懲率罰柳博薯弈中遼的興納礦什老均究衡旦：洞經(jīng)鴉理襯人貧背亮叛鉛，泉雇鴉主麻不傷懲對(duì)罰萬(wàn)。摧這傭是和一球種被低畢效納率逼的乒非蜻合牧作他均衡尤，臘這巨種剃均爹衡奶形彈成禍了血一頓種楊鼓糠勵(lì)天機(jī)遮制置，那導(dǎo)減致注背徹叛陽(yáng)行唯為探屢矩屢叼發(fā)逃生根。經(jīng)縮慧理木人化：K2雇積主春：R2經(jīng)些理堵人耗：K0雇惜主淡：R0經(jīng)思理篇人弦：K1雇貨主悶：R1經(jīng)盈理她人不盡背孩叛雇盲主背述叛懲僑罰不攪懲瞞罰經(jīng)校理辣人訊背穴叛雇排主腦不感懲尋罰納擠什核均癥衡經(jīng)煎理象人摟“細(xì)背枝叛扁”槳的猴機(jī)紫理蜜與條雇既主洲的政對(duì)爆策治取月向五蔑、悅對(duì)轎策階及域發(fā)各展1須、倒對(duì)顛策因改為團(tuán)我悼們碼分桃析責(zé)得運(yùn)出激的令納榜什冠均懶衡居是葬一我種危低愁效顧率販的僵非砌合窮作怨均斷衡荒，牲這脆種均甩衡掏形揪成拋了暴一趕種福鼓抵勵(lì)躍機(jī)籃制哥，尚導(dǎo)添致裝背光叛貨行掩為赴屢益屢朝發(fā)答生滴。橡為擾了化改蠶變叢這蹤蝶種邊低攝效率姥的穿均香衡乒，圓就怠必寺須祝對(duì)虜經(jīng)彩理侵人外背我叛埋進(jìn)冤行族治讀理肅，漫但陶由報(bào)于氏外桂部慶環(huán)瘡境帽是估企腫業(yè)劍不集可控劑因尼素率，鈔因愉此炒我飼們卸更抱傾秧向觀于憐企田業(yè)哭在研現(xiàn)攔有含條跨件攝下山從蓮內(nèi)灣部鑄完姥善荷激雷勵(lì)井和席治厭理抹機(jī)制坑來(lái)紡進(jìn)好行孤治蝕理株:內(nèi)威部浩激悶勵(lì)嘗機(jī)賞制換方竄面(捧1快)容建醬立龜和煙恢核復(fù)演雇侵主談的世自飽我該誠(chéng)糖信(野2紙)刃企遇業(yè)隱規(guī)義范街財(cái)扶務(wù)衰制刺度撞，熱履自行次對(duì)做社紫會(huì)物和凝員壩工點(diǎn)的對(duì)承分諾內(nèi)寨部架約跳束章機(jī)賤制至方家面(殘1氏)痕完碗善內(nèi)公追司冒章煎程(火2掉)姜完復(fù)善烏合喘同抹約幕束(笨3排)縫完逃善韻組暑織茂機(jī)挪構(gòu)傳約鍬束(伍4破)鉗完常善揉偏算好淡約倘束(牌5遼)徑完耀善青激塘勵(lì)渾性搏約馳束(購(gòu)6頓)腫建