7. A fundamental problem in corporate finance is the asset substitution problem. The asset substitution...
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Finance
7. A fundamental problem in corporate finance is the asset substitution problem. The asset substitution problem...
a) describes one of the agency conflicts between shareholders and managers.
b) predicts that managers underinvest because of a lack of financing.
c) predicts that more high risk projects with negative NPVs may be undertaken.
d) None of the above.
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