Textbook Notes (367,933)
Canada (161,513)
Economics (818)
ECON 2560 (71)
Chapter 2

Chapter 2

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ECON 2560
Nancy Bower

Chapter 2 – Notes The Stock Market  Financial Market: Market where securities are issued and traded  Primary Market: Market for the sale of new securities by corporations  Secondary Market: Market in which already issued securities are traded among investors  Stock markets are also called equity markets, since shareholders are said to own the common equity of the firm Other Financial Market  Abond is a more complex security than a share of stock  Ashare is just a proportional owndership claim on the firm, with no definite maturity  Bonds and other debt securities can vary in maturity, the degree of protection or collateral offered by the issuer and the level and timing of interest payments  Fixed-Income Market: Market for debt securities  Capital Market: Market for long-term financing  Money Market: Market for short-term finaancing (less than a year) Financial Intermediaries  Financial intermediary: An organization that raises money form investors and provides financing for individuals, corporations, or other organizations ◦ For corporations, intermediaries are important sources of financing ◦ Intermediaries are a stop on the rao
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