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2023年 3月 17日星期五 12時 53分 18秒 12:53:1817 March 2023 ? 1一個人即使已登上頂峰,也仍要自強(qiáng)不息。 2023年 3月 17日星期五 下午 12時 53分 18秒 12:53: ? 1最具挑戰(zhàn)性的挑戰(zhàn)莫過于提升自我。勝人者有力,自勝者強(qiáng)。 :53:1812:53Mar2317Mar23 ? 1越是無能的人,越喜歡挑剔別人的錯兒。 , March 17, 2023 ? 閱讀一切好書如同和過去最杰出的人談話。 2023年 3月 17日星期五 12時 53分 18秒 12:53:1817 March 2023 ? 1空山新雨后,天氣晚來秋。 。 :53:1812:53:18March 17, 2023 ? 1意志堅強(qiáng)的人能把世界放在手中像泥塊一樣任意揉捏。 :53:1812:53Mar2317Mar23 ? 1世間成事,不求其絕對圓滿,留一份不足,可得無限完美。 , March 17, 2023 ? 很多事情努力了未必有結(jié)果,但是不努力卻什么改變也沒有。 2023年 3月 17日星期五 12時 53分 18秒 12:53:1817 March 2023 ? 1做前,能夠環(huán)視四周;做時,你只能或者最好沿著以腳為起點的射線向前。 。 :53:1812:53:18March 17, 2023 ? 1他鄉(xiāng)生白發(fā),舊國見青山。 :53:1812:53Mar2317Mar23 ? 1故人江海別,幾度隔山川。 , March 17, 2023 ? 雨中黃葉樹,燈下白頭人。 2023 by The McGrawHill Companies, Inc. All rights reserved. 1923 Summary and Conclusions ? Larger issues have proportionately much lower costs of issuing equity than small ones. ? Firmmitment underwriting is far more prevalent for large issues than is besteffort underwriting. Smaller issues probably use best effort because of the greater uncertainty. ? Rights offering are cheaper than general cash offers. ? Shelf registration is a new method of issuing new debt and equity. ? Venture capitalists are an increasingly important influence in startup firms and subsequent financing. McGrawHill/Irwin Copyright 169。 . mezzanine financing. 6. FourthRound Financing Financing for a firm that is likely to go public within 6 months。 2023 by The McGrawHill Companies, Inc. All rights reserved. 1921 Venture Capital ? The limited partnership is the dominant form of intermediation in this market. ? There are four types of suppliers of venture capital: 1. Oldline wealthy families. 2. Private partnerships and corporations. 3. Large industrial or financial corporations have established venturecapital subsidiaries. 4. Individuals, typically with ines in excess of $100,000 and newt worth over $1,000,000. Often these “angels” have substantial business experience and are able to tolerate high risks. McGrawHill/Irwin Copyright 169。 2023 by The McGrawHill Companies, Inc. All rights reserved. 1919 The Private Equity Market ? The previous sections of this chapter assumed that a pany is big enough, successful enough, and old enough to raise capital in the public equity market. ? For startup firms and firms in financial trouble, the public equity market is often not available. McGrawHill/Irwin Copyright 169。 2023 by The McGrawHill Companies