According to Davis (1963),industrial firms need capital to expand,grow and develop.They will ?seek the most efficient means to finance this capital.In the U.S.during its period of industrialization,industrialists raised the resources needed to invest in capital accumulation by

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During the U.S. industrialization period, industrialists primarily relied on the lending power of a large number of small banks to raise resources for capital accumulation.

According to Davis (1963),industrial Firms Need Capital to Expand,grow and Develop.They