期刊名称：International Business & Economics Research Journal
印刷版ISSN：1535-0754
电子版ISSN：2157-9393
出版年度：2012
卷号：11
期号：12
页码：1325-1332
语种：English
出版社：The Clute Institute for Academic Research
摘要：The capital markets, like all areas of business, evolve over time. This evolution is often made possible by the application of technology. In particular, stock and bond markets, as well as options, commodities and derivatives markets, have all undergone enormous and rapid transformations due to the application of technology (Gurbaxani & Whang, 1991; Carlsson & Stankiewicz, 1995). These transformations, because of economies of scale, have benefited large businesses more than small businesses. This article 1) outlines the development of a new form of financing for small business that has become possible as a result of technological innovation, 2) describes why it has advantages in some circumstances over existing forms of financing, and 3) examines why the existence of this form of financing may have positive effects in terms of job creation.
关键词：Merchant Advance;Innovation in Capital Markets
