论文部分内容阅读
目前,国内许多企业经营者对资金与资本这两个本质上根本不同的概念一直存在着认识上的误区,对资本市场更是缺乏深刻的理解而只是将之简单等同于另外一种新的融资渠道。事实上,资本根本不同于资金、它以其所承担的风险要求分享企业当下及未来的权益。本刊这里特地编发耶鲁管理学院金融学教授William N.Goetzmann的这篇文章、目的即在于通过Goetzmann教授的论述,使读者对有关概念能够有更深的领会。
At present, many business operators in China have always had misunderstandings about the fundamentally different concepts of capital and capital. They lack a deep understanding of the capital market and simply equate it with another kind of new financing channel. In fact, capital is fundamentally different from money, and it shares the current and future interests of the enterprise with the risks it assumes. This issue of specially published article by William N. Goetzmann, a professor of finance at Yale School of Management, is intended to give readers a deeper understanding of the concept through Professor Goetzmann’s essay.