The idea that prices in financial markets reflect all available information — also known as the efficient markets hypothesis — has many variations: Some adherents think the process is immediate and precise, while others think it’s much messier, with prices often missing true value by a significant margin. New research suggests that the latter version fits the data better — …

The great Chinese environmental cleanup, now in full swing, is shifting the corporate landscape in unexpected ways and even stoking inflationary pressure that may soon be felt in supply chains worldwide. As President Xi Jinping’s government intensifies the fight against the country’s world-class pollution problem, companies are scrambling to adapt to tighter regulation while investing in cleaner energy. In industries …

China’s largest blue chips are flying high.There’s been a seismic shift in the notoriously speculative $8.7 trillion stock market. Large-cap blue-chip companies are the new darlings, a reversal from the smaller growth stocks previously in favor. The Beautiful 50, a local term for the 50 most influential companies on the Shanghai Stock Exchange, returned 33 percent this year. The Shenzhen …