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If debt adds discipline to management, which of the following types of companies will most benefit from debt adding this discipline? Conservatively financed privately owned

If debt adds discipline to management, which of the following types of companies will most benefit from debt adding this discipline?

Conservatively financed privately owned business

Conservatively financed, publicly traded companies with stocks held by millions of investors, none of whom hold a large percentage of the stock

Conservatively finance, publicly traded companies, with an activist and primarily institutional holding

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