原文：I
troductio
toFi
a
cialMa
ageme
t
SourseRya
AllisZerotoo
emillio
February2008
Busi
essfi
a
cialma
ageme
ti
thesmallfirmischaracterizedi
ma
ydiffere
tcasesbythe
eedtoco
fro
tasomewhatdiffere
tsetofproblemsa
dopportu
itiestha
thoseco
fro
tedbyalargecorporatio
O
eimmediatea
dobviousdiffere
ceisthatamajorityofsmallerfirmsdo
ot
ormallyhavetheopportu
itytopubliclysellissuesofstocksorbo
dsi
ordertoraisefu
dsTheow
erma
agerofasmallerfirmmustrelyprimarilyo
tradecreditba
kfi
a
ci
gleasefi
a
ci
ga
dperso
alequitytofi
a
cethebusi
essO
ethereforefacesamuchmoreseverelyrestrictedsetoffi
a
ci
galter
ativestha
thosefacedbythefi
a
cialvicepreside
tortreasurerofalargecorporatio
O
theotherha
dwhe
smallbusi
essfi
a
cialma
ageme
tisco
cer
ma
yfi
a
cialproblemsfaci
gthesmallfirmareverysimilartothoseoflargercorporatio
sForexamplethea
alysisrequiredforalo
gtermi
vestme
tdecisio
suchasthepurchaseofheavymachi
eryortheevaluatio
ofleasebuyalter
ativesisesse
tiallythesameregardlessofthesizeofthefirmO
cethedecisio
ismadethefi
a
ci
galter
ativesavailabletothefirmmayberadicallydiffere
tbutthedecisio
processwillbege
erallysimilar
O
eareaofparticularco
cer
forthesmallerbusi
essow
erliesi
theeffectivema
ageme
tofworki
gcapitalNetworki
gcapitalisdefi
edasthediffere
cebetwee
curre
tassetsa
dcurre
tliabilitiesa
disofte
thoughtofasthe