4.5 Looking at Figure 4.5, describe the trend in net equity financing in the United States during the last 30 years. What does this say about the use of equity financing in U.S. corporations?

FIGURE 4.5 Net New Equity Issues, 1975-2013 Sources: Federal Reserve System, Financial Accounts of the United States,Table F213 nonfinancial corporate business, federalreserve.gov/releases/zl /current/data.htm 100 1975 1980 1985 1990 1995 2000 2005 2010 2015 0 -100 200 -300 4400 500 -600 700 800