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The last few years of the twentieth century witnessedsignificant developments in information and communicationtechnology taking the form of an e-revolution that is transformingthe global economy from a low-productive, manufacture-based old oneto a knowledge-based, highly-productive, new economy withsignificant growth potential coming from irreversible advancementin knowledge. With e-revolution, the new-economy sector is addingsignificant values to Indian stock market. This book inquireswhether the underlying economic fundamentals could justify thestock market valuations of the sector. Moreover, it exploreswhether new-economy stock price movements show similar patternsirrespective of the level of financial development and the factorsexplaining such movements. It finds new-economy stocks to havebubble-determined prices and to possess a special character holdingacross countries. With functional instability embedded in the stockmarket, this is perhaps the initiation of a new era of changedstock price behavior at least for the new-economy stocks that thestandard pricing models cannot explain. This analysis would be ofinterest to researchers and academicians.