(A) avoid taxes
(B) reduce management cost
(C) raise more cash
(D) get merge

(A) managers
(B) board of directors
(C) shareholders
(D) venture capitalists

(A) 3.1%
(B) 3.4%
(C) 3.7%
(D) 4.0%

(A) $12000
(B) $12450
(C) $12810
(D) $13705

(A) spinning
(B) underwriters
(C) venture capitalists
(D) venture capital firms

(A) angel investors
(B) corporate investors
(C) venture capitalists
(D) venture capital firms

(A) –1
(B) 0
(C) 1
(D) risk cannot be eliminated

(A) regression
(B) correlation
(C) cross-section
(D) spread

(A) variance
(B) covariance
(C) skewness
(D) kurtosis

(A) horizontal
(B) vertical
(C) straight
(D) conglomerate