Four implications of market efficiency for corporate finance are: a. Managers cannot fool the market through creative
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Four implications of market efficiency for corporate finance are:
a. Managers cannot fool the market through creative accounting.
b. Firms cannot successfully time issues of debt and equity.
c. Managers cannot profitably speculate in foreign currencies and other instruments.
d. Managers can reap many benefits by paying attention to market prices. LO.1
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