Chapter 4
British Corporate Finance, 1500–1860
Outline
Impact of the Voyages of Discovery
Emergence of the Joint-Stock Company
Rise of the Secondary Market in Shares
In most economies, the process of economic growth and development leads to prosperity. Economic growth and development, in turn, require investment and therefore access to finance. Discussions about corporate finance revolve around the way financial decisions are made by business enterprises, specifically whether investment will be financed by equity, debt, or retained earnings of large corporations. Challenges to financing corporations ...
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