Some companies avoid stock markets, affecting competition between financial centers. Local information can help investors beat the market. The global stock market is shaped by relationships between companies, investors, and intermediaries, impacting economies worldwide. Emerging markets are on the rise, the financial crisis had a big impact, and London and New York remain dominant. The book uses data and case studies to explore how stock markets are influenced by geography and history, contributing to the global economy. Investors, companies, exchanges, analysts, banks, and policymakers can benefit from these insights.