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1. What is a financial intermediary? Why have these institutions been steadily losing market share to capital markets as the principal source of external financing

1. What is a financial intermediary? Why have these institutions been steadily losing market share to capital markets as the principal source of external financing for companies?

2. If a particular share had no systematic risk, only unsystematic risk what would be its expected return? Explain with reason.

3. Explain the concept of the efficient market hypothesis in share valuation.

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