(businesses and individuals). Banks face a conflicting situation. They must respond to safety and liquidity needs holding cash or near-cash, and they have to maximize return of investments putting funds in long-term loans with a greater risk premium. However, a bank's own risk capital represents a small part of the total amount of money loaned. Consequently, they will become interesting lenders when projects will be considered relatively safe and show short term (5 years) profit possibilities. Venture Capital Venture capital will become a source of funds for companies starting new operations or reaching a new market. High-technology companies can be considered as interesting targets for venture capital. Generally, venture capital funds come from rich individuals and financial institutions. Venture capital is more likely to fund relatively small companies considered too risky for more conventional financial organizations. The General Public Underwriting houses which present potential investments which present potential investments to the public through an offering secured by a commission. This gives companies access to the investments funds of the general public. The essential function of a stock exchange is to provide a central market for purchase of shares, regardless of the size or location of the broker's firm. Securities are bought or sold on the same terms. Accepted securities (following securities rules) only can be traded on the stock exchange floor. A stock exchange cannot supply equity capital to industrial companies directly, but it offers services and facilities to permit the exchange. Once a company goes public it has to fulfill specific commitments like continuous reporting and opening of its financial statements to public scrutiny. Its shareholders become business partners. Governmental Support The comparative advantage economical concept states that no two countries are alike in business specialities and that they will try to maximize the profit that they can obtain over others countries using that advantage. An international space speciality for a specific country can be proposed as an example. Most industrialized countries have specific governmental agencies to support companies and industries to exploit that comparative advantage in providing legal, political and financial support to attain fixed goals. Help can specifically be provided through insurance, loans and guarantied programs. Manufacturer's Assistance This source of funds may seem to be unusual, but in the aerospace industry, financial burden insured by the manufacturers for research and development can be considered as a source of pressure for cooperation. Added to the high level of competition between the manufacturers in the space sector, and the selection process used by the space clients, the manufacturer has to take a variety of financial risks. Interest Interest can be defined as the cost of using other people's money to complete a transaction or a product. When a borrower accepts a fixed interest rate from a lender, the risk he encounters relates to a fall in the market interest rate, which would put him is a disadvantageous position with respect to competition. To protect themselves from those risks of rates variation, borrowers and lenders use various means, such as interest rate swap: this changes the nature of the risk by limiting interest payments from floating to fixed rate or from fixed to floating rate. Currency Risk When a corporation proposes taking on obligations in a currency other than that of its base country, a risk occurs. Three situations can be observed about currency risks: • Assets financed outside of the base country • Assets financed locally by a lender without sufficient source of local funds
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