1. What we call the capitalization rate is, enterprise by enterprise, a ratio of financial autonomy.
As discussed in the chapter on capitalan enterprise's capitalization ratio is more important than the amount of capital.
2. What applies to an enterprise on this point applies to all enterprises domiciled in a country, whether they carry out their activities in whole or in part.
Enterprises that are more or less completely owners of other enterprises mean that, for such a group, the addition of capital and those of the balance sheet totals (assets or liabilities) are not relevant. The relationship between these two sums is no less significant of what the national average capitalization rate (NCCT) is in this country.
3. For the CNMR to rise, one national stock must increase faster than another.
The national stock of corporate capital must grow faster than the national stock of corporate debt for the CNTR to rise. If, on the other hand, it is the second of these stocks (that of debt) that increases faster than the first (that of capital), the NMCR falls.
4. Wanting a strong CNTC is the result of a choice of economic regime.
In this regime, the preference for capital over credit in corporate finance plays a major role. Under the impetus of the legislator, commercial enterprises distribute all of their periodic profits while accompanying this distribution, as a general rule, with an offer for an increase in capital.
5. A characteristic of this scheme is that it is directly financed.
At the limit, all the savings invested are invested directly in capital on the one hand, and in interest-bearing savings accounts on the other.
6. Direct funding redistributes powers.
Under the direct financing system, the powers of guidance and arbitration, previously monopolized jointly by financial intermediation and the public authority, are vested in the population itself. It then exercises its governance according to what it appears to be its interests, in an economic system whose normal circuits it better understands. It makes up too little of the savings it has invested to finance job creation and to obtain a further increase in per capita income. It understands better why monetary unbridling and the stimulation of consumption are at the forefront of the means of robbing it of its economic powers.