nvestment in foreign equity markets became common practice in the 1980s as investors became aware of the benefits of greater stability of earnings with international diversification, and offsetting business and monetary policy cycles across nations reduces the country-specific risk of any one nation. What type is/are the reason(s)?

a. Prestige or knowledge advantage.

b. Lower marginal or transaction costs.

c. Risk reduction and growth.

d. Wholesale and retail defensive strategy.