Investment Banking Since 1900: an Unexplored Field in American Financial History

Thomas R. Navin

Business History Review, 1953, vol. 27, issue 1, 60-65

Abstract: Businessmen are accustomed to thinking of the capital they use as of two types: short-term and long-term. Short-term capital is the capital which is used typically to finance seasonal peaks in business activity, such as the rush at Christmastime; it is borrowed from commercial banks and must be repaid in a short time, usually less than a year. Long-term capital may be either equity capital, invested by the owners of the business, or borrowed capital, on loan to the owners for a number of years. Long-term capital is usually obtained by businessmen through investment bankers. There are many exceptions to these generalizations, and the exceptions have been increasing in number in recent years, but historically and in theory these general statements may be treated as working definitions.

Date: 1953
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.cambridge.org/core/product/identifier/ ... type/journal_article link to article abstract page (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cup:buhirw:v:27:y:1953:i:01:p:60-65_02

Access Statistics for this article

More articles in Business History Review from Cambridge University Press Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK.
Bibliographic data for series maintained by Kirk Stebbing ().