3. Innovations in Business Finance

For the layperson, few subjects are more daunting than business finance, which seems laden with inscrutable concepts, mysterious jargon, and mathematical formulas. Experienced practitioners might as well be speaking a language of their own.

But even the most sophisticated applications have a clear-cut principle at their core: This is the business of financing business—finding ways to propel growth, create jobs, and bring new ideas to the marketplace. Companies need to select the appropriate capital structure (a mix of various types of short- and long-term debt and equity) to finance their operations and growth. Whether the question is extending credit to an entrepreneur who wants to open a neighborhood shop ...

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