Joint stock capital

Japanese: 株式資本 - かぶしきしほん（英語表記）joint‐stock capital

In general, it refers to the equity capital of a corporation, paid in by multiple investors in exchange for stock certificates, i.e., combined social capital, as opposed to private capital owned by individuals. However, in a narrower sense, it refers to fictitious capital that has been capitalized as a special commodity that generates interest, as opposed to real capital that functions in the reproduction process and generates profits. When ownership interests (stocks) in real capital (corporate assets) can be divided and transferred at will on the securities market, shareholders are differentiated into two classes: a small number of large shareholders who concentrate and control the company as executives, and the majority of general shareholders who are excluded from management.

Source: Heibonsha World Encyclopedia, 2nd Edition Information

Japanese:

一般には，個人所有の私的資本に対して，複数の出資者が株券と引換えに払い込んだ株式会社の自己資本，すなわち結合された社会資本をいう。しかし狭義には，再生産過程で機能しながら利潤を生む現実資本に対して，利子を生む特殊な商品として資本還元された擬制資本をさす。証券市場で現実資本(企業資産)に対する所有持分(株式)が任意に分割譲渡されうるようになると，重役として会社の経営権を集中して支配する少数の大株主と経営からは排除された大多数の一般株主とへ，株主が2層に分化される。

出典　株式会社平凡社世界大百科事典第２版について　情報

<<: Mutual shareholding

>>: Stock market - Kabushikishijo (English spelling) stock market