第一个问题是直接融资和间接融资的关系问题。从世界各国的情况看，直接融资和间接融资的比例是不一样的，拿美国这个欧美有代表性的国家来说，在它的长期投资中来自于直接融资的占70％以上，这是一种类型；第二种类型是日本，90年代前日本的资本结构中来自直接融资的比例很小 The first issue is the relationship between direct financing and indirect financing. From the perspective of the countries in the world, the proportion of direct financing and indirect financing is not the same. Taking the United States, a representative country in Europe and the United States, it accounts for more than 70% of its long-term investment from direct financing. This is a The second type is Japan. Before the 1990s, the proportion of Japan’s capital structure from direct financing was small