第03章 资本场(讲义)简易版.docVIP

Section 3.1 Text Purpose and Participants Firms that issue capital market securities and the investors who buy them have very different motivations than they have when they operate in the money market. Firms and individuals use the money market primarily to warehouse funds for short periods of time until a more important need or a more productive use for the funds arises. By contrast, firms and individuals use the capital market for long-term investments. The capital markets provide an alternative to investment in asset such as real estate or gold. Meanwhile, the primary reason that individ