It is proposed that asymptotically non-free gauge theories can be cons
istently interpreted as theories of composite gauge bosons. It is argu
ed that when hidden local symmetry is introduced, masslessness and cou
pling universality of dynamically generated gauge bosons are ensured.
To illustrate these ideas we take a four dimensional Grassmannian sigm
a model as an example and show that the model should be regarded as a
cutoff theory and that there is a critical coupling at which the hidde
n local symmetry is restored. Propagator and vertex functions of the g
auge field are calculated explicitly and existence of the massless pol
e is shown. The beta function determined from the Z factor of the dyna
mically generated gauge boson coincides with that of an asymptotic non
-free elementary gauge theory. Using this theoretical machinery we con
struct a model in which asymptotic free and non-free gauge bosons coex
ist and their running couplings are related by a reciprocally proporti
onal relation.