This manuscript reviews the evolving literature on the pricing of assets and the structure of financial markets. It begins with the development of early stock valuation models and proceeds to a description of the efficient-market hypothesis. The survey then examines recent empirical data that...

The vigor of an economy has frequently been linked to the level of new investment. Compared to most other developed countries, the level of new investment in the UK has been relatively low and the performance of the economy on various dimensions has also been relatively poor. One possible reason...