文档介绍：CHAPTER1:THEINVESTMENTENVIRONMENTPROBLEMSETSUltimately,,,,thecapitalmarketneeds:asafesystemofbusinesslawsandlowprobabilityofconfiscatorytaxation/regulation;awell-developedinvestmentbankingindustry;awell-developedsystemofbrokerageandfinancialtransactions,and;well-developedmedia,(indeedmakefor)awell-;thatis,,mortgage-,financialintermediariesmustincreaseotheractivitiessuchasprovidingshort-termliquiditytoconsumersandsmallbusiness,,forexample,couldnotissuestocksorbondstothegeneralpublic,,,',ifthestockpricerisesconsiderably,managersmightconcludethatthemarketbelievesthefirm''sbusine