Abstract
A detailed and comprehensive study of the one-impurity multichannel Kondo model is presented. In the limit of a large number of conduction electron channels $k \gg 1$, the low energy fixed point is accessible to a renormalization group improved perturbative expansion in $1/k$. This straightforward approach enables us to examine the scaling, thermodynamics and dynamical response functions in great detail and make clear the following features: i) the criticality of the fixed point; ii) the universal non-integer degeneracy; iii) that the compensating spin cloud has the spatial extent of the order of one lattice spacing.

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