Assume that you buy into this agency cost hypothesis associated with capital structure theory. You believe that debt adds discipline to management. Which of the following types of companies will benefit most from borrowing more debt to add discipline to management?

	a.	Conservatively financed, publicly traded companies, with an activist on board and primarily institutional holding.
	b.	Conservatively financed (very little debt), privately owned businesses
	c.	Conservatively financed, publicly traded companies, with stocks held by millions of investors, none of whom hold a large percent of the stock.