In many of the empirical papers you will be reading, the authors need to translate theor- etical propositions into testable hypotheses. Hopefully, this question will give you some perspective on how translation works by considering a specific example: R&D intensity. R(esearch)&D(evelopment) intensity is typically measured by (R&D expenses)/(Total Firm Assets). a. Everything else held equal, how will R&D intensity affect information asymmetry (i.e., the difference between insiders' and outsiders' expectations about the firm's future prospects)? [50 words or less] b. Everything else held equal how to expect R&D intensity to affect the firms need for external financing (i.e., financing for positive NPV projects that cannot be funded by the firm's financial slack)? [50 words or less] c. Everything else held equal how to expect R&D intensity to affect the the cost of financial distress. [50 words or less] In many of the empirical papers you will be reading, the authors need to translate theor- etical propositions into testable hypotheses. Hopefully, this question will give you some perspective on how translation works by considering a specific example: R&D intensity. R(esearch)&D(evelopment) intensity is typically measured by (R&D expenses)/(Total Firm Assets). a. Everything else held equal, how will R&D intensity affect information asymmetry (i.e., the difference between insiders' and outsiders' expectations about the firm's future prospects)? [50 words or less] b. Everything else held equal how to expect R&D intensity to affect the firms need for external financing (i.e., financing for positive NPV projects that cannot be funded by the firm's financial slack)? [50 words or less] c. Everything else held equal how to expect R&D intensity to affect the the cost of financial distress. [50 words or less]