The previous chapter discussed several functions that the share market bestows on firms and explored how cooperative firms could take advantage of these functions by making their shares tradeable financial instruments. In particular, we argued that cooperative firms that issue tradeable shares can raise equity as permanent capital and thus, within a certain limit of expenditures on assets for production, can dispense with the debt market. This chapter specifically derives this certain limit of expenditures on assets for production for a cooperative firm as compared to that for a capitalist firm.