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论文摘要：我在美国和日本研究融资方式的发展，说明融资在美国和日本的性格，以及发现在美国和日本之间的融资方式存在着巨大的差异。所不同的是国家的经济结构，政策目标，制度环境，经济结构决定的。美国和日本的经验已经证明，不同企业的融资模式有关系的一个特定阶段的经济发展和增长的公司，经过几十年甚至几个世纪以来，企业融资模式的影响，许多的动荡在美国和日本，成为完全制服 - 主要是内部融资，外部融资的混合物，资本市场融资和银行贷款。其实我也发现在美国和日本的融资方式也有一些变化，在过去的几年中，股市融资在美国减少，增加银行融资，而银行融资减少在日本，股票市场融资增加。

Abstract

I research the development of financing style in US and Japan, describe the character of financing in US and Japan, and find there are huge difference between financing style in US and Japan. The difference is decided by the national economic structure, policy objectives, institutional environment, economy structure. The experience of US and Japan has proved that the different corporate finance model has the relationship of a specific stage of economic development and growth of the company, after the impact of many of the turbulence for a few decades or even centuries, the corporate finance models in US and Japan become to completely and uniform – mainly internal financing, the external financing are financial management the mixture of the capital market financing and bank loans. actually I also find the financing style in US and Japan also has some change in the past years, the stock market financing in US decrease, and the banking financing increase, while the banking financing decrease in Japan, the stock market financing increase.

Contents

Chapter 1: Introduction 1
1.1 Research Background 1
1.2 Research object and aims 2
1.3 Methods, contents and structure of the paper 2
Chapter 2: Literature Review 3
Chapter 3: Concept and theory of financing 7
3.1 concept of financing 7
3.2theory of financing 10
Chapter 4: US style financial—stock market financing 14
4.1the evolve of financing in US 14
4.2 the character of financing in US 17
Chapter5:Japan style financial—banking financing 22
5.1the evolve of financing in Japan 22
5.2 the character of financing in Japan 23
Chapter 6: Comparatively of US style financial and Japan style financing 29
6.1 compare the policy factors of financing structure of company 29
6.2 compare the risk and cost of financing style 32
6.3 compare the performance of financing 33
6.4 compare the future trend of financing style 39
Chapter 7: Conclusions 41

Reference

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