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1-Explain how managers allocate cash to post spin-off parent and subsidiary firms based on the trade-off theory. {Support your answer by explaining what are the

1-Explain how managers allocate cash to post spin-off parent and subsidiary firms based on the trade-off theory. {Support your answer by explaining what are the spin-off and trade-off theory}.

2-Discuss whether the treasury markets are efficient based on their reactions to macroeconomic news announcements.

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