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Question 4. [25 points] a) What is the primary source of funding for non-financial businesses in Germany and Japan? (5 points) b) Explain how the
Question 4. [25 points] a) What is the primary source of funding for non-financial businesses in Germany and Japan? (5 points) b) Explain how the problem of asymmetric information can explain your answer to question a). [10 points] c) Provide an explanation of how the problem of adverse selection can be made worse by the fact that some investors can free-ride on the research done by other market participants. (10 points]
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