The Pillars: Issuers and Investors in Search of Growth and Profit
Georges Ugeux
A chapter in Wall Street’s Assault on Democracy, 2023, pp 43-44 from Springer
Abstract:
Abstract The heart of the financial markets is the meeting between issuers and investors. This is known as direct intermediation, where the same instrument is issued by the company or government and purchased by the investor without going through the balance sheet of a financial institution or any form of transformation. For companies, this is a crucial element of their financial stability. In fact, the bond markets make it possible to obtain fixed-rate debt as well as variations on this theme that the banking system is not able to provide. Given the amount of equity that banks must allocate to grant credit and the intermediation margin, it is financially strategic for companies not to depend solely on bank financing.
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-29094-7_7
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DOI: 10.1007/978-3-031-29094-7_7
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