Since the early 1960s there has been a considerable increase in formalised investment analysis in the UK. This can partly be evidenced by the growth in the membership of the Society of Investment Analysts, the major professional body for practising analysts, whose numbers have grown from 100 in...

During recent years there has been a vast growth in the literature of and the study of the theory of the firm. Underlying the various different theories however is a generally acknowledged structure of a company having an objective(s) towards which it strives by laying down and implementing...

Over the past fifteen years there has been a lot of research into the behaviour of share prices. This has largely involved investigating whether share prices were predictable by mechanical means and whether any class of investors has had consistent and substantial success in investment matters....

The purpose of this paper is to discuss briefly the types of research that have been undertaken, to reference a number of American and British studies and to summarise some work in this general area that has been completed by the author whilst at Bradford University and subsequently at Stirling...