From 1980s onward there has been a remarkable transformation of the global business and financial scene, thanks to deregulation, liberalization, globalization, automation, privatization, and the ascendance of the services sector. In the wake of these developments, competition has intensified, investment and financing avenues have expanded, corporate have grown in size and complexity, capital has become more mobile, institutional investors (who are in general, more demanding than individual investors) have become an important force, financial prices have become more volatile, and intangible assets have assumed greater significance.
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