> The reliance on the stock markets is mostly a phenomena of the English speaking countries I know more about how it works in the US than in other English-spea

> The reliance on the stock markets is mostly a phenomena of the English speaking countries I know more about how it works in the US than in other English-speaking countries. That listed US non-financial corporations attain capital via stock issuances, initial or subsequent, is a kind of mythology. From a century back until now, less than 5% of US non-financial corporate capital expenditures are from capital raised by stock issuances. If you look at the numbers, it mostly works in the US in the same manner as Germany, France, Japan etc. To raise capital, corporations reinvest profits, they go to the banks, they sell bonds. The idea that stock exchanges are heavily involved with companies raising capital is a widespread one, but that has more to do with the aptitude of stock exchange PR departments than reality.