While the importance of venture capital to the growth of small firms has been widely discussed during the past decade, little is known about the acquisition of additional equity capital, especially internal equity capital, by the majority of small firms in the U.S. This paper utilizes the information collected in the Federal Reserve Board's 1993 and 1998 Small Business Finance Surveys to investigate the acquisition of additional equity capital by small firms. While the importance of public issue markets and venture capital investment in promoting the growth of small dynamic firms cannot be denied, the importance of external equity capital seems to be overstated. Only a very small number of small firms acquired additional external equity capital. It is the internal equity capital, not external, equity, that is one of the major financing sources for most small firms. We found that younger, lower quality firms were more likely to acquire additional internal equity capital than other firms. There appeared to be a "pecking order" of borrowing from internal sources to traditional lenders to non-traditional lenders. In addition, internal equity capital and debt acquired from traditional and non-traditional lenders appeared to be complementary financial resourc

additional question

Question 31. Who Is A More Senior Creditor, A Bondholder Or Stockholder?

Question 32. What Is Inflaition?

Question 33. What Kind Of Stocks Would You Issue For A Startup?

Question 34. What Is Trial Balance?

Question 35. What Is Your Investing Strategy?

Question 36. What Is Demat Account? What Is The Use Of It?

Question 37. What Is Retained Earnings?

Question 38. What Is The Difference Between Asset Management And Invest Management?

Question 39. Why Would An Investor Buy Preferred Stock?

Question 40. What Is Crossover Rate?