A shareholder's right to inspect books and records of a corporation will be properly denied if the shareholder
A. Wants to use corporate shareholder records for a personal business.
B. Employs an agent to inspect the books and records.
C. Intends to commence a shareholder's derivative suit.
D. Is investigating management misconduct.
Answer: A. Wants to use corporate shareholder records for a personal business.
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Triangular arbitrage eliminates exchange rate differentials across three markets for three
currencies. Indicate whether the statement is true or false
Masulis (1980) documented evidence that the market generally reacts favorably to a leverage- increasing debt-for-equity swap, and unfavorably to a leverage decreasing equity-for-debt swap
Which of the following is NOT a legitimate theoretical explanation for these market reactions? a. Increasing leverage increases the tax shield of debt, while extinguishing debt decreases it. b. Increasing leverage induces an expropriation of wealth from existing creditors, while extinguishing debt accomplishes the opposite. c. Increasing leverage via a swap involves paying a dividend to shareholders while decreasing leverage via a swap forces the firm to issue equity. d. Increasing leverage disciplines management to act in shareholders' interest by absorbing free cash flow, while decreasing leverage increases management's ability to pursue self-serving activities.